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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and SONIC AUTOMOTIVE INC (SAH). Click either name above to swap in a different company.
SONIC AUTOMOTIVE INC is the larger business by last-quarter revenue ($3.7B vs $3.3B, roughly 1.1× ALASKA AIR GROUP, INC.). SONIC AUTOMOTIVE INC runs the higher net margin — 1.6% vs -5.8%, a 7.5% gap on every dollar of revenue. On growth, ALASKA AIR GROUP, INC. posted the faster year-over-year revenue change (5.2% vs 1.0%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs 3.4%).
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.
Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States as measured by total revenues. The company was founded by O Bruton Smith and completed its initial public offering on the NYSE in 1997.
ALK vs SAH — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $3.7B |
| Net Profit | $-193.0M | $60.8M |
| Gross Margin | — | 16.2% |
| Operating Margin | -8.5% | 3.1% |
| Net Margin | -5.8% | 1.6% |
| Revenue YoY | 5.2% | 1.0% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-1.69 | $1.79 |
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 | $3.7B | ||
| Q4 25 | $3.6B | $3.9B | ||
| Q3 25 | $3.8B | $4.0B | ||
| Q2 25 | $3.7B | $3.7B | ||
| Q1 25 | $3.1B | $3.7B | ||
| Q4 24 | $3.5B | $3.9B | ||
| Q3 24 | $3.1B | $3.5B | ||
| Q2 24 | $2.9B | $3.5B |
| Q1 26 | $-193.0M | $60.8M | ||
| Q4 25 | $21.0M | $46.9M | ||
| Q3 25 | $73.0M | $46.8M | ||
| Q2 25 | $172.0M | $-45.6M | ||
| Q1 25 | $-166.0M | $70.6M | ||
| Q4 24 | $71.0M | $58.6M | ||
| Q3 24 | $236.0M | $74.2M | ||
| Q2 24 | $220.0M | $41.2M |
| Q1 26 | — | 16.2% | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 15.5% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 15.6% |
| Q1 26 | -8.5% | 3.1% | ||
| Q4 25 | 2.1% | 3.2% | ||
| Q3 25 | 3.9% | 3.1% | ||
| Q2 25 | 7.5% | -0.6% | ||
| Q1 25 | -6.3% | 4.0% | ||
| Q4 24 | 2.1% | 3.4% | ||
| Q3 24 | 11.1% | 3.3% | ||
| Q2 24 | 11.1% | 3.1% |
| Q1 26 | -5.8% | 1.6% | ||
| Q4 25 | 0.6% | 1.2% | ||
| Q3 25 | 1.9% | 1.2% | ||
| Q2 25 | 4.6% | -1.2% | ||
| Q1 25 | -5.3% | 1.9% | ||
| Q4 24 | 2.0% | 1.5% | ||
| Q3 24 | 7.7% | 2.1% | ||
| Q2 24 | 7.6% | 1.2% |
| Q1 26 | $-1.69 | $1.79 | ||
| Q4 25 | $0.14 | $1.39 | ||
| Q3 25 | $0.62 | $1.33 | ||
| Q2 25 | $1.42 | $-1.34 | ||
| Q1 25 | $-1.35 | $2.04 | ||
| Q4 24 | $0.58 | $1.67 | ||
| Q3 24 | $1.84 | $2.13 | ||
| Q2 24 | $1.71 | $1.18 |
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 | — |
| Total DebtLower is stronger | $5.3B | — |
| Stockholders' EquityBook value | $3.7B | — |
| Total Assets | $20.3B | — |
| Debt / EquityLower = less leverage | 1.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $6.3M | ||
| Q3 25 | $2.3B | $89.4M | ||
| Q2 25 | $2.1B | $110.4M | ||
| Q1 25 | $2.5B | $64.6M | ||
| Q4 24 | $2.5B | $44.0M | ||
| Q3 24 | $2.5B | $17.6M | ||
| Q2 24 | $2.5B | $67.2M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $1.6B | ||
| Q3 25 | $5.0B | $1.5B | ||
| Q2 25 | $4.9B | $1.5B | ||
| Q1 25 | $4.8B | $1.6B | ||
| Q4 24 | $4.5B | $1.6B | ||
| Q3 24 | $4.6B | $1.7B | ||
| Q2 24 | $2.7B | $1.7B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $1.1B | ||
| Q3 25 | $4.0B | $1.1B | ||
| Q2 25 | $3.9B | $1.0B | ||
| Q1 25 | $4.1B | $1.1B | ||
| Q4 24 | $4.4B | $1.1B | ||
| Q3 24 | $4.5B | $1.0B | ||
| Q2 24 | $4.2B | $944.7M |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $6.0B | ||
| Q3 25 | $20.0B | $6.0B | ||
| Q2 25 | $19.9B | $5.9B | ||
| Q1 25 | $19.8B | $5.9B | ||
| Q4 24 | $19.8B | $5.9B | ||
| Q3 24 | $19.6B | $5.8B | ||
| Q2 24 | $15.3B | $5.8B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 1.51× | ||
| Q3 25 | 1.24× | 1.39× | ||
| Q2 25 | 1.26× | 1.48× | ||
| Q1 25 | 1.16× | 1.44× | ||
| Q4 24 | 1.04× | 1.49× | ||
| Q3 24 | 1.03× | 1.67× | ||
| Q2 24 | 0.63× | 1.81× |
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 | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 10.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $66.9M | ||
| Q3 25 | $229.0M | $167.9M | ||
| Q2 25 | $376.0M | $136.8M | ||
| Q1 25 | $459.0M | $195.8M | ||
| Q4 24 | $274.0M | $87.7M | ||
| Q3 24 | $318.0M | $87.8M | ||
| Q2 24 | $580.0M | $-136.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-195.6M | ||
| Q3 25 | — | $134.4M | ||
| Q2 25 | — | $102.7M | ||
| Q1 25 | — | $150.8M | ||
| Q4 24 | — | $-245.5M | ||
| Q3 24 | — | $34.5M | ||
| Q2 24 | — | $-185.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | -5.1% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | -6.3% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | -5.4% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 1.43× | ||
| Q3 25 | 3.14× | 3.59× | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | — | 2.77× | ||
| Q4 24 | 3.86× | 1.50× | ||
| Q3 24 | 1.35× | 1.18× | ||
| Q2 24 | 2.64× | -3.31× |
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% |
SAH
| Retail new vehicles | $1.6B | 44% |
| Used vehicles | $1.3B | 34% |
| Parts, service and collision repair | $516.6M | 14% |
| Finance, insurance and other, net | $202.4M | 5% |
| Wholesale vehicles | $71.8M | 2% |
| Fleet new vehicles | $20.7M | 1% |
