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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and ARKO Corp. (ARKO). Click either name above to swap in a different company.
ALASKA AIR GROUP, INC. is the larger business by last-quarter revenue ($3.3B vs $1.8B, roughly 1.8× ARKO Corp.). ARKO Corp. runs the higher net margin — 0.1% vs -5.8%, a 6.0% gap on every dollar of revenue. On growth, ALASKA AIR GROUP, INC. posted the faster year-over-year revenue change (5.2% vs -9.9%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs -7.0%).
Alaska Air Group, Inc. is an American airline holding company based in SeaTac, Washington, United States. The group owns two mainline carriers, Alaska Airlines and Hawaiian Airlines, along with a regional airline, Horizon Air. Alaska Airlines in turn wholly owns an aircraft ground handling company, McGee Air Services.
ARKO Corp. is a leading U.S. operator of convenience stores and fuel retail locations, primarily serving consumers across multiple states. It offers a wide range of products including fresh food, beverages, daily essentials, and motor fuels, alongside wholesale fuel distribution services for commercial partners.
ALK vs ARKO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $1.8B |
| Net Profit | $-193.0M | $1.9M |
| Gross Margin | — | — |
| Operating Margin | -8.5% | 1.2% |
| Net Margin | -5.8% | 0.1% |
| Revenue YoY | 5.2% | -9.9% |
| Net Profit YoY | — | 180.9% |
| EPS (diluted) | $-1.69 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $1.8B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.1B | $1.8B | ||
| Q4 24 | $3.5B | $2.0B | ||
| Q3 24 | $3.1B | $2.3B | ||
| Q2 24 | $2.9B | $2.4B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $1.9M | ||
| Q3 25 | $73.0M | $13.5M | ||
| Q2 25 | $172.0M | $20.1M | ||
| Q1 25 | $-166.0M | $-12.7M | ||
| Q4 24 | $71.0M | $-2.3M | ||
| Q3 24 | $236.0M | $9.7M | ||
| Q2 24 | $220.0M | $14.1M |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 1.2% | ||
| Q3 25 | 3.9% | 1.8% | ||
| Q2 25 | 7.5% | 2.8% | ||
| Q1 25 | -6.3% | -0.6% | ||
| Q4 24 | 2.1% | 0.7% | ||
| Q3 24 | 11.1% | 1.8% | ||
| Q2 24 | 11.1% | 1.8% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | 1.9% | 0.7% | ||
| Q2 25 | 4.6% | 1.0% | ||
| Q1 25 | -5.3% | -0.7% | ||
| Q4 24 | 2.0% | -0.1% | ||
| Q3 24 | 7.7% | 0.4% | ||
| Q2 24 | 7.6% | 0.6% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.01 | ||
| Q3 25 | $0.62 | $0.10 | ||
| Q2 25 | $1.42 | $0.16 | ||
| Q1 25 | $-1.35 | $-0.12 | ||
| Q4 24 | $0.58 | $-0.03 | ||
| Q3 24 | $1.84 | $0.07 | ||
| Q2 24 | $1.71 | $0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $451.0M | $311.5M |
| Total DebtLower is stronger | $5.3B | $912.1M |
| Stockholders' EquityBook value | $3.7B | $267.2M |
| Total Assets | $20.3B | $3.5B |
| Debt / EquityLower = less leverage | 1.43× | 3.41× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $311.5M | ||
| Q3 25 | $2.3B | $313.2M | ||
| Q2 25 | $2.1B | $299.7M | ||
| Q1 25 | $2.5B | $271.1M | ||
| Q4 24 | $2.5B | $267.1M | ||
| Q3 24 | $2.5B | $296.8M | ||
| Q2 24 | $2.5B | $236.5M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $912.1M | ||
| Q3 25 | $5.0B | $911.6M | ||
| Q2 25 | $4.9B | $916.4M | ||
| Q1 25 | $4.8B | $880.1M | ||
| Q4 24 | $4.5B | $881.0M | ||
| Q3 24 | $4.6B | $884.7M | ||
| Q2 24 | $2.7B | $889.9M |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $267.2M | ||
| Q3 25 | $4.0B | $273.1M | ||
| Q2 25 | $3.9B | $264.8M | ||
| Q1 25 | $4.1B | $255.2M | ||
| Q4 24 | $4.4B | $276.9M | ||
| Q3 24 | $4.5B | $280.0M | ||
| Q2 24 | $4.2B | $273.1M |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $3.5B | ||
| Q3 25 | $20.0B | $3.6B | ||
| Q2 25 | $19.9B | $3.6B | ||
| Q1 25 | $19.8B | $3.6B | ||
| Q4 24 | $19.8B | $3.6B | ||
| Q3 24 | $19.6B | $3.7B | ||
| Q2 24 | $15.3B | $3.7B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 3.41× | ||
| Q3 25 | 1.24× | 3.34× | ||
| Q2 25 | 1.26× | 3.46× | ||
| Q1 25 | 1.16× | 3.45× | ||
| Q4 24 | 1.04× | 3.18× | ||
| Q3 24 | 1.03× | 3.16× | ||
| Q2 24 | 0.63× | 3.26× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $229.0M | $44.6M |
| Free Cash FlowOCF − Capex | — | $14.9M |
| FCF MarginFCF / Revenue | — | 0.8% |
| Capex IntensityCapex / Revenue | 10.2% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 23.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $65.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $44.6M | ||
| Q3 25 | $229.0M | $49.4M | ||
| Q2 25 | $376.0M | $55.2M | ||
| Q1 25 | $459.0M | $43.4M | ||
| Q4 24 | $274.0M | $22.7M | ||
| Q3 24 | $318.0M | $109.2M | ||
| Q2 24 | $580.0M | $77.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $24.5M | ||
| Q2 25 | — | $9.8M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $-13.4M | ||
| Q3 24 | — | $79.9M | ||
| Q2 24 | — | $57.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | -0.7% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | — | 2.4% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.8% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 23.98× | ||
| Q3 25 | 3.14× | 3.67× | ||
| Q2 25 | 2.19× | 2.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.86× | — | ||
| Q3 24 | 1.35× | 11.28× | ||
| Q2 24 | 2.64× | 5.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
ARKO
| Fuel Products | $1.4B | 79% |
| Merchandise Products | $338.1M | 19% |
| Other Product | $33.6M | 2% |
