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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Ovintiv Inc. (OVV). 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 $2.1B, roughly 1.6× Ovintiv Inc.). Ovintiv Inc. runs the higher net margin — 46.1% vs -5.8%, a 51.9% gap on every dollar of revenue. On growth, ALASKA AIR GROUP, INC. posted the faster year-over-year revenue change (5.2% vs -6.0%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs -7.2%).
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.
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
ALK vs OVV — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.1B |
| Net Profit | $-193.0M | $946.0M |
| Gross Margin | — | — |
| Operating Margin | — | 21.2% |
| Net Margin | -5.8% | 46.1% |
| Revenue YoY | 5.2% | -6.0% |
| Net Profit YoY | -16.3% | 1676.7% |
| EPS (diluted) | $-1.69 | $3.64 |
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 | $2.1B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.1B | $2.4B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $2.9B | $2.2B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $946.0M | ||
| Q3 25 | $73.0M | $148.0M | ||
| Q2 25 | $172.0M | $307.0M | ||
| Q1 25 | $-166.0M | $-159.0M | ||
| Q4 24 | $71.0M | $-60.0M | ||
| Q3 24 | $236.0M | $507.0M | ||
| Q2 24 | $220.0M | $340.0M |
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 21.2% | ||
| Q3 25 | 3.9% | 13.5% | ||
| Q2 25 | 7.5% | 23.1% | ||
| Q1 25 | -6.3% | -3.7% | ||
| Q4 24 | 2.1% | 0.1% | ||
| Q3 24 | 11.1% | 24.2% | ||
| Q2 24 | 11.1% | 25.4% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 46.1% | ||
| Q3 25 | 1.9% | 7.3% | ||
| Q2 25 | 4.6% | 13.9% | ||
| Q1 25 | -5.3% | -6.7% | ||
| Q4 24 | 2.0% | -2.7% | ||
| Q3 24 | 7.7% | 23.3% | ||
| Q2 24 | 7.6% | 15.5% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $3.64 | ||
| Q3 25 | $0.62 | $0.57 | ||
| Q2 25 | $1.42 | $1.18 | ||
| Q1 25 | $-1.35 | $-0.61 | ||
| Q4 24 | $0.58 | $-0.22 | ||
| Q3 24 | $1.84 | $1.92 | ||
| Q2 24 | $1.71 | $1.27 |
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 | $280.0M |
| Total DebtLower is stronger | $5.3B | $5.2B |
| Stockholders' EquityBook value | $3.7B | $11.2B |
| Total Assets | $20.3B | $20.4B |
| Debt / EquityLower = less leverage | 1.43× | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $280.0M | ||
| Q3 25 | $2.3B | $25.0M | ||
| Q2 25 | $2.1B | $20.0M | ||
| Q1 25 | $2.5B | $8.0M | ||
| Q4 24 | $2.5B | $42.0M | ||
| Q3 24 | $2.5B | $9.0M | ||
| Q2 24 | $2.5B | $8.0M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $5.2B | ||
| Q3 25 | $5.0B | $5.2B | ||
| Q2 25 | $4.9B | $5.3B | ||
| Q1 25 | $4.8B | $5.5B | ||
| Q4 24 | $4.5B | $5.5B | ||
| Q3 24 | $4.6B | $5.9B | ||
| Q2 24 | $2.7B | $6.1B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $11.2B | ||
| Q3 25 | $4.0B | $10.2B | ||
| Q2 25 | $3.9B | $10.4B | ||
| Q1 25 | $4.1B | $10.1B | ||
| Q4 24 | $4.4B | $10.3B | ||
| Q3 24 | $4.5B | $10.7B | ||
| Q2 24 | $4.2B | $10.3B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $20.4B | ||
| Q3 25 | $20.0B | $19.4B | ||
| Q2 25 | $19.9B | $19.7B | ||
| Q1 25 | $19.8B | $19.6B | ||
| Q4 24 | $19.8B | $19.3B | ||
| Q3 24 | $19.6B | $19.9B | ||
| Q2 24 | $15.3B | $19.8B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 0.46× | ||
| Q3 25 | 1.24× | 0.51× | ||
| Q2 25 | 1.26× | 0.51× | ||
| Q1 25 | 1.16× | 0.55× | ||
| Q4 24 | 1.04× | 0.53× | ||
| Q3 24 | 1.03× | 0.55× | ||
| Q2 24 | 0.63× | 0.59× |
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 | $954.0M |
| Free Cash FlowOCF − Capex | — | $489.0M |
| FCF MarginFCF / Revenue | — | 23.8% |
| Capex IntensityCapex / Revenue | 10.2% | 22.6% |
| Cash ConversionOCF / Net Profit | — | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $954.0M | ||
| Q3 25 | $229.0M | $812.0M | ||
| Q2 25 | $376.0M | $1.0B | ||
| Q1 25 | $459.0M | $873.0M | ||
| Q4 24 | $274.0M | $1.0B | ||
| Q3 24 | $318.0M | $1.0B | ||
| Q2 24 | $580.0M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | $489.0M | ||
| Q3 25 | — | $268.0M | ||
| Q2 25 | — | $492.0M | ||
| Q1 25 | — | $256.0M | ||
| Q4 24 | — | $468.0M | ||
| Q3 24 | — | $484.0M | ||
| Q2 24 | — | $398.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 23.8% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.2% | ||
| Q2 24 | — | 18.1% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 26.9% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 26.0% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 28.4% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 1.01× | ||
| Q3 25 | 3.14× | 5.49× | ||
| Q2 25 | 2.19× | 3.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.86× | — | ||
| Q3 24 | 1.35× | 2.02× | ||
| Q2 24 | 2.64× | 3.00× |
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% |
OVV
| Product And Service Revenue | $1.7B | 84% |
| Sales Of Purchased Product | $338.0M | 16% |
