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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and CDW Corporation (CDW). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $3.3B, roughly 1.7× ALASKA AIR GROUP, INC.). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 5.2%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs 6.3%).
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.
CDW Corporation is an American multi-brand provider of information technology services, serving business, government, education, and healthcare sectors across the United States, the United Kingdom, and Canada. Headquartered in Vernon Hills, Illinois, CDW is a Fortune 500 and generated $21 billion in annual net sales in 2023.
ALK vs CDW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $5.5B |
| Net Profit | $-193.0M | — |
| Gross Margin | — | 22.8% |
| Operating Margin | -8.5% | 7.8% |
| Net Margin | -5.8% | — |
| Revenue YoY | 5.2% | 6.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-1.69 | $2.13 |
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 | $5.5B | ||
| Q3 25 | $3.8B | $5.7B | ||
| Q2 25 | $3.7B | $6.0B | ||
| Q1 25 | $3.1B | $5.2B | ||
| Q4 24 | $3.5B | $5.2B | ||
| Q3 24 | $3.1B | $5.5B | ||
| Q2 24 | $2.9B | $5.4B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | — | ||
| Q3 25 | $73.0M | $291.0M | ||
| Q2 25 | $172.0M | $271.2M | ||
| Q1 25 | $-166.0M | $224.9M | ||
| Q4 24 | $71.0M | — | ||
| Q3 24 | $236.0M | $316.4M | ||
| Q2 24 | $220.0M | $281.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.8% | ||
| Q3 25 | — | 21.9% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 21.8% |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 7.8% | ||
| Q3 25 | 3.9% | 7.7% | ||
| Q2 25 | 7.5% | 7.0% | ||
| Q1 25 | -6.3% | 7.0% | ||
| Q4 24 | 2.1% | 7.9% | ||
| Q3 24 | 11.1% | 8.7% | ||
| Q2 24 | 11.1% | 8.0% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.9% | 5.1% | ||
| Q2 25 | 4.6% | 4.5% | ||
| Q1 25 | -5.3% | 4.3% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 7.7% | 5.7% | ||
| Q2 24 | 7.6% | 5.2% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $2.13 | ||
| Q3 25 | $0.62 | $2.21 | ||
| Q2 25 | $1.42 | $2.05 | ||
| Q1 25 | $-1.35 | $1.69 | ||
| Q4 24 | $0.58 | $1.97 | ||
| Q3 24 | $1.84 | $2.34 | ||
| Q2 24 | $1.71 | $2.07 |
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 | $618.7M |
| Total DebtLower is stronger | $5.3B | — |
| Stockholders' EquityBook value | $3.7B | $2.6B |
| Total Assets | $20.3B | $16.0B |
| Debt / EquityLower = less leverage | 1.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $618.7M | ||
| Q3 25 | $2.3B | $452.9M | ||
| Q2 25 | $2.1B | $481.0M | ||
| Q1 25 | $2.5B | $688.1M | ||
| Q4 24 | $2.5B | $717.7M | ||
| Q3 24 | $2.5B | $1.2B | ||
| Q2 24 | $2.5B | $665.3M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.7B | — |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $2.6B | ||
| Q3 25 | $4.0B | $2.5B | ||
| Q2 25 | $3.9B | $2.5B | ||
| Q1 25 | $4.1B | $2.3B | ||
| Q4 24 | $4.4B | $2.4B | ||
| Q3 24 | $4.5B | $2.3B | ||
| Q2 24 | $4.2B | $2.2B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $16.0B | ||
| Q3 25 | $20.0B | $15.2B | ||
| Q2 25 | $19.9B | $15.3B | ||
| Q1 25 | $19.8B | $15.0B | ||
| Q4 24 | $19.8B | $14.7B | ||
| Q3 24 | $19.6B | $14.4B | ||
| Q2 24 | $15.3B | $13.6B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | 1.16× | — | ||
| Q4 24 | 1.04× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.63× | — |
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 | $433.8M |
| Free Cash FlowOCF − Capex | — | $395.9M |
| FCF MarginFCF / Revenue | — | 7.2% |
| Capex IntensityCapex / Revenue | 10.2% | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $433.8M | ||
| Q3 25 | $229.0M | $328.3M | ||
| Q2 25 | $376.0M | $155.9M | ||
| Q1 25 | $459.0M | $287.2M | ||
| Q4 24 | $274.0M | $345.3M | ||
| Q3 24 | $318.0M | $342.1M | ||
| Q2 24 | $580.0M | $149.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $395.9M | ||
| Q3 25 | — | $298.5M | ||
| Q2 25 | — | $133.4M | ||
| Q1 25 | — | $260.3M | ||
| Q4 24 | — | $316.7M | ||
| Q3 24 | — | $308.5M | ||
| Q2 24 | — | $119.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.2% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 2.2% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | — | ||
| Q3 25 | 3.14× | 1.13× | ||
| Q2 25 | 2.19× | 0.57× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | 3.86× | — | ||
| Q3 24 | 1.35× | 1.08× | ||
| Q2 24 | 2.64× | 0.53× |
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% |
CDW
Segment breakdown not available.
