vs
Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Cushman & Wakefield Ltd. (CWK). 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 $2.9B, roughly 1.1× Cushman & Wakefield Ltd.). Cushman & Wakefield Ltd. runs the higher net margin — -0.8% vs -5.8%, a 5.1% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs 5.2%). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 6.7%).
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.
Cushman & Wakefield Inc. is an American global commercial real estate and property management services firm. The company's corporate headquarters is located in Chicago, Illinois. It is named after co-founders J. Clydesdale Cushman and Bernard Wakefield.
ALK vs CWK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.9B |
| Net Profit | $-193.0M | $-22.4M |
| Gross Margin | — | — |
| Operating Margin | -8.5% | 6.1% |
| Net Margin | -5.8% | -0.8% |
| Revenue YoY | 5.2% | 10.8% |
| Net Profit YoY | — | -119.8% |
| EPS (diluted) | $-1.69 | $-0.10 |
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 | $2.9B | ||
| Q3 25 | $3.8B | $2.6B | ||
| Q2 25 | $3.7B | $2.5B | ||
| Q1 25 | $3.1B | $2.3B | ||
| Q4 24 | $3.5B | $2.6B | ||
| Q3 24 | $3.1B | $2.3B | ||
| Q2 24 | $2.9B | $2.3B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $-22.4M | ||
| Q3 25 | $73.0M | $51.4M | ||
| Q2 25 | $172.0M | $57.3M | ||
| Q1 25 | $-166.0M | $1.9M | ||
| Q4 24 | $71.0M | $112.9M | ||
| Q3 24 | $236.0M | $33.7M | ||
| Q2 24 | $220.0M | $13.5M |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 6.1% | ||
| Q3 25 | 3.9% | 4.1% | ||
| Q2 25 | 7.5% | 4.9% | ||
| Q1 25 | -6.3% | 2.0% | ||
| Q4 24 | 2.1% | 6.6% | ||
| Q3 24 | 11.1% | 3.2% | ||
| Q2 24 | 11.1% | 3.1% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | -0.8% | ||
| Q3 25 | 1.9% | 2.0% | ||
| Q2 25 | 4.6% | 2.3% | ||
| Q1 25 | -5.3% | 0.1% | ||
| Q4 24 | 2.0% | 4.3% | ||
| Q3 24 | 7.7% | 1.4% | ||
| Q2 24 | 7.6% | 0.6% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $-0.10 | ||
| Q3 25 | $0.62 | $0.22 | ||
| Q2 25 | $1.42 | $0.25 | ||
| Q1 25 | $-1.35 | $0.01 | ||
| Q4 24 | $0.58 | $0.49 | ||
| Q3 24 | $1.84 | $0.14 | ||
| Q2 24 | $1.71 | $0.06 |
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 | $784.2M |
| Total DebtLower is stronger | $5.3B | $2.7B |
| Stockholders' EquityBook value | $3.7B | $2.0B |
| Total Assets | $20.3B | $7.7B |
| Debt / EquityLower = less leverage | 1.43× | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $784.2M | ||
| Q3 25 | $2.3B | $634.4M | ||
| Q2 25 | $2.1B | $618.2M | ||
| Q1 25 | $2.5B | $623.2M | ||
| Q4 24 | $2.5B | $793.3M | ||
| Q3 24 | $2.5B | $775.4M | ||
| Q2 24 | $2.5B | $567.3M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $2.7B | ||
| Q3 25 | $5.0B | $2.8B | ||
| Q2 25 | $4.9B | $3.0B | ||
| Q1 25 | $4.8B | $3.0B | ||
| Q4 24 | $4.5B | $3.0B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $2.7B | $3.1B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $2.0B | ||
| Q3 25 | $4.0B | $2.0B | ||
| Q2 25 | $3.9B | $1.9B | ||
| Q1 25 | $4.1B | $1.8B | ||
| Q4 24 | $4.4B | $1.8B | ||
| Q3 24 | $4.5B | $1.7B | ||
| Q2 24 | $4.2B | $1.6B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $7.7B | ||
| Q3 25 | $20.0B | $7.7B | ||
| Q2 25 | $19.9B | $7.6B | ||
| Q1 25 | $19.8B | $7.4B | ||
| Q4 24 | $19.8B | $7.5B | ||
| Q3 24 | $19.6B | $7.5B | ||
| Q2 24 | $15.3B | $7.3B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 1.40× | ||
| Q3 25 | 1.24× | 1.45× | ||
| Q2 25 | 1.26× | 1.57× | ||
| Q1 25 | 1.16× | 1.70× | ||
| Q4 24 | 1.04× | 1.73× | ||
| Q3 24 | 1.03× | 1.81× | ||
| Q2 24 | 0.63× | 1.91× |
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 | $257.3M |
| Free Cash FlowOCF − Capex | — | $234.3M |
| FCF MarginFCF / Revenue | — | 8.0% |
| Capex IntensityCapex / Revenue | 10.2% | 0.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $293.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $257.3M | ||
| Q3 25 | $229.0M | $235.5M | ||
| Q2 25 | $376.0M | $9.6M | ||
| Q1 25 | $459.0M | $-162.0M | ||
| Q4 24 | $274.0M | $115.2M | ||
| Q3 24 | $318.0M | $196.1M | ||
| Q2 24 | $580.0M | $21.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $234.3M | ||
| Q3 25 | — | $225.0M | ||
| Q2 25 | — | $300.0K | ||
| Q1 25 | — | $-166.6M | ||
| Q4 24 | — | $105.9M | ||
| Q3 24 | — | $186.7M | ||
| Q2 24 | — | $10.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 8.6% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | -7.3% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | 0.4% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | — | ||
| Q3 25 | 3.14× | 4.58× | ||
| Q2 25 | 2.19× | 0.17× | ||
| Q1 25 | — | -85.26× | ||
| Q4 24 | 3.86× | 1.02× | ||
| Q3 24 | 1.35× | 5.82× | ||
| Q2 24 | 2.64× | 1.61× |
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% |
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
