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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Avery Dennison (AVY). 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 $2.3B, roughly 1.4× Avery Dennison). Avery Dennison runs the higher net margin — 7.3% vs -5.8%, a 13.2% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs 5.2%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs 1.4%).
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.
Avery Dennison Corporation is an American multinational manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. The company is a member of the Fortune 500 and is headquartered in Mentor, Ohio.
ALK vs AVY — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.3B |
| Net Profit | $-193.0M | $168.1M |
| Gross Margin | — | 28.9% |
| Operating Margin | — | 10.7% |
| Net Margin | -5.8% | 7.3% |
| Revenue YoY | 5.2% | 7.0% |
| Net Profit YoY | -16.3% | 1.1% |
| EPS (diluted) | $-1.69 | — |
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 | $2.3B | ||
| Q4 25 | $3.6B | $2.3B | ||
| Q3 25 | $3.8B | $2.2B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $2.9B | $2.2B |
| Q1 26 | $-193.0M | $168.1M | ||
| Q4 25 | $21.0M | $166.4M | ||
| Q3 25 | $73.0M | $166.3M | ||
| Q2 25 | $172.0M | $189.0M | ||
| Q1 25 | $-166.0M | $166.3M | ||
| Q4 24 | $71.0M | $174.0M | ||
| Q3 24 | $236.0M | $181.7M | ||
| Q2 24 | $220.0M | $176.8M |
| Q1 26 | — | 28.9% | ||
| Q4 25 | — | 28.7% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 28.9% | ||
| Q4 24 | — | 27.9% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.6% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | 2.1% | 9.1% | ||
| Q3 25 | 3.9% | 10.6% | ||
| Q2 25 | 7.5% | 11.5% | ||
| Q1 25 | -6.3% | 10.6% | ||
| Q4 24 | 2.1% | 11.0% | ||
| Q3 24 | 11.1% | 11.0% | ||
| Q2 24 | 11.1% | 10.7% |
| Q1 26 | -5.8% | 7.3% | ||
| Q4 25 | 0.6% | 7.3% | ||
| Q3 25 | 1.9% | 7.5% | ||
| Q2 25 | 4.6% | 8.5% | ||
| Q1 25 | -5.3% | 7.7% | ||
| Q4 24 | 2.0% | 8.0% | ||
| Q3 24 | 7.7% | 8.3% | ||
| Q2 24 | 7.6% | 7.9% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $2.16 | ||
| Q3 25 | $0.62 | $2.13 | ||
| Q2 25 | $1.42 | $2.41 | ||
| Q1 25 | $-1.35 | $2.09 | ||
| Q4 24 | $0.58 | $2.17 | ||
| Q3 24 | $1.84 | $2.25 | ||
| Q2 24 | $1.71 | $2.18 |
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 | $255.1M |
| Total DebtLower is stronger | $5.3B | $3.2B |
| Stockholders' EquityBook value | $3.7B | $2.3B |
| Total Assets | $20.3B | $9.0B |
| Debt / EquityLower = less leverage | 1.43× | 1.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | $255.1M | ||
| Q4 25 | $627.0M | $202.8M | ||
| Q3 25 | $2.3B | $536.3M | ||
| Q2 25 | $2.1B | $215.9M | ||
| Q1 25 | $2.5B | $195.9M | ||
| Q4 24 | $2.5B | $329.1M | ||
| Q3 24 | $2.5B | $212.7M | ||
| Q2 24 | $2.5B | $208.8M |
| Q1 26 | $5.3B | $3.2B | ||
| Q4 25 | $4.8B | $3.2B | ||
| Q3 25 | $5.0B | $3.2B | ||
| Q2 25 | $4.9B | $2.6B | ||
| Q1 25 | $4.8B | $2.6B | ||
| Q4 24 | $4.5B | $2.6B | ||
| Q3 24 | $4.6B | $2.0B | ||
| Q2 24 | $2.7B | $2.0B |
| Q1 26 | $3.7B | $2.3B | ||
| Q4 25 | $4.1B | $2.2B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $3.9B | $2.2B | ||
| Q1 25 | $4.1B | $2.2B | ||
| Q4 24 | $4.4B | $2.3B | ||
| Q3 24 | $4.5B | $2.4B | ||
| Q2 24 | $4.2B | $2.3B |
| Q1 26 | $20.3B | $9.0B | ||
| Q4 25 | $20.4B | $8.8B | ||
| Q3 25 | $20.0B | $8.9B | ||
| Q2 25 | $19.9B | $8.6B | ||
| Q1 25 | $19.8B | $8.4B | ||
| Q4 24 | $19.8B | $8.4B | ||
| Q3 24 | $19.6B | $8.5B | ||
| Q2 24 | $15.3B | $8.3B |
| Q1 26 | 1.43× | 1.38× | ||
| Q4 25 | 1.17× | 1.43× | ||
| Q3 25 | 1.24× | 1.45× | ||
| Q2 25 | 1.26× | 1.19× | ||
| Q1 25 | 1.16× | 1.19× | ||
| Q4 24 | 1.04× | 1.11× | ||
| Q3 24 | 1.03× | 0.85× | ||
| Q2 24 | 0.63× | 0.89× |
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 | — |
| Free Cash FlowOCF − Capex | — | $104.4M |
| FCF MarginFCF / Revenue | — | 4.5% |
| Capex IntensityCapex / Revenue | 10.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $869.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $376.8M | ||
| Q3 25 | $229.0M | $312.1M | ||
| Q2 25 | $376.0M | $208.8M | ||
| Q1 25 | $459.0M | $-16.3M | ||
| Q4 24 | $274.0M | $351.2M | ||
| Q3 24 | $318.0M | $270.1M | ||
| Q2 24 | $580.0M | $197.7M |
| Q1 26 | — | $104.4M | ||
| Q4 25 | — | $309.7M | ||
| Q3 25 | — | $276.2M | ||
| Q2 25 | — | $178.8M | ||
| Q1 25 | — | $-52.3M | ||
| Q4 24 | — | $281.7M | ||
| Q3 24 | — | $227.1M | ||
| Q2 24 | — | $150.2M |
| Q1 26 | — | 4.5% | ||
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | -2.4% | ||
| Q4 24 | — | 12.9% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 6.7% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 2.26× | ||
| Q3 25 | 3.14× | 1.88× | ||
| Q2 25 | 2.19× | 1.10× | ||
| Q1 25 | — | -0.10× | ||
| Q4 24 | 3.86× | 2.02× | ||
| Q3 24 | 1.35× | 1.49× | ||
| Q2 24 | 2.64× | 1.12× |
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% |
AVY
| Materials Group | $1.6B | 72% |
| Solutions Group | $649.2M | 28% |
