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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and UGI CORP (UGI). 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× UGI CORP). UGI CORP runs the higher net margin — 14.4% vs -5.8%, a 20.2% gap on every dollar of revenue. On growth, ALASKA AIR GROUP, INC. posted the faster year-over-year revenue change (5.2% vs 3.9%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs -7.5%).
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.
UGI Corporation is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe.
ALK vs UGI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.1B |
| Net Profit | $-193.0M | $297.0M |
| Gross Margin | — | — |
| Operating Margin | -8.5% | 22.0% |
| Net Margin | -5.8% | 14.4% |
| Revenue YoY | 5.2% | 3.9% |
| Net Profit YoY | — | -20.8% |
| EPS (diluted) | $-1.69 | $1.34 |
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 | $1.2B | ||
| Q2 25 | $3.7B | $1.4B | ||
| Q1 25 | $3.1B | $2.6B | ||
| Q4 24 | $3.5B | $2.0B | ||
| Q3 24 | $3.1B | $1.2B | ||
| Q2 24 | $2.9B | $1.4B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $297.0M | ||
| Q3 25 | $73.0M | $-13.0M | ||
| Q2 25 | $172.0M | $-163.0M | ||
| Q1 25 | $-166.0M | $479.0M | ||
| Q4 24 | $71.0M | $375.0M | ||
| Q3 24 | $236.0M | $-273.0M | ||
| Q2 24 | $220.0M | $-48.0M |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 22.0% | ||
| Q3 25 | 3.9% | 1.1% | ||
| Q2 25 | 7.5% | -6.8% | ||
| Q1 25 | -6.3% | 26.6% | ||
| Q4 24 | 2.1% | 24.5% | ||
| Q3 24 | 11.1% | -20.4% | ||
| Q2 24 | 11.1% | 5.0% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 14.4% | ||
| Q3 25 | 1.9% | -1.1% | ||
| Q2 25 | 4.6% | -12.0% | ||
| Q1 25 | -5.3% | 18.2% | ||
| Q4 24 | 2.0% | 18.9% | ||
| Q3 24 | 7.7% | -22.6% | ||
| Q2 24 | 7.6% | -3.6% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $1.34 | ||
| Q3 25 | $0.62 | $-0.08 | ||
| Q2 25 | $1.42 | $-0.76 | ||
| Q1 25 | $-1.35 | $2.19 | ||
| Q4 24 | $0.58 | $1.74 | ||
| Q3 24 | $1.84 | $-1.26 | ||
| Q2 24 | $1.71 | $-0.23 |
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 | $251.0M |
| Total DebtLower is stronger | $5.3B | $6.0B |
| Stockholders' EquityBook value | $3.7B | $5.0B |
| Total Assets | $20.3B | $15.8B |
| Debt / EquityLower = less leverage | 1.43× | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $251.0M | ||
| Q3 25 | $2.3B | $335.0M | ||
| Q2 25 | $2.1B | $350.0M | ||
| Q1 25 | $2.5B | $426.0M | ||
| Q4 24 | $2.5B | $240.0M | ||
| Q3 24 | $2.5B | $213.0M | ||
| Q2 24 | $2.5B | $183.0M |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $6.0B | ||
| Q3 25 | $5.0B | $6.5B | ||
| Q2 25 | $4.9B | $5.7B | ||
| Q1 25 | $4.8B | $6.6B | ||
| Q4 24 | $4.5B | $6.6B | ||
| Q3 24 | $4.6B | $6.4B | ||
| Q2 24 | $2.7B | $6.3B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $5.0B | ||
| Q3 25 | $4.0B | $4.8B | ||
| Q2 25 | $3.9B | $4.9B | ||
| Q1 25 | $4.1B | $5.0B | ||
| Q4 24 | $4.4B | $4.6B | ||
| Q3 24 | $4.5B | $4.3B | ||
| Q2 24 | $4.2B | $4.7B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $15.8B | ||
| Q3 25 | $20.0B | $15.5B | ||
| Q2 25 | $19.9B | $15.4B | ||
| Q1 25 | $19.8B | $15.7B | ||
| Q4 24 | $19.8B | $15.4B | ||
| Q3 24 | $19.6B | $15.1B | ||
| Q2 24 | $15.3B | $15.1B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 1.19× | ||
| Q3 25 | 1.24× | 1.37× | ||
| Q2 25 | 1.26× | 1.17× | ||
| Q1 25 | 1.16× | 1.32× | ||
| Q4 24 | 1.04× | 1.44× | ||
| Q3 24 | 1.03× | 1.48× | ||
| Q2 24 | 0.63× | 1.34× |
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 | $66.0M |
| Free Cash FlowOCF − Capex | — | $-155.0M |
| FCF MarginFCF / Revenue | — | -7.5% |
| Capex IntensityCapex / Revenue | 10.2% | 10.7% |
| Cash ConversionOCF / Net Profit | — | 0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $282.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $66.0M | ||
| Q3 25 | $229.0M | $90.0M | ||
| Q2 25 | $376.0M | $289.0M | ||
| Q1 25 | $459.0M | $684.0M | ||
| Q4 24 | $274.0M | $164.0M | ||
| Q3 24 | $318.0M | $151.0M | ||
| Q2 24 | $580.0M | $390.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-155.0M | ||
| Q3 25 | — | $-168.0M | ||
| Q2 25 | — | $67.0M | ||
| Q1 25 | — | $538.0M | ||
| Q4 24 | — | $-47.0M | ||
| Q3 24 | — | $-115.0M | ||
| Q2 24 | — | $185.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -7.5% | ||
| Q3 25 | — | -14.4% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | — | -9.5% | ||
| Q2 24 | — | 13.7% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 22.1% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | — | 15.2% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 0.22× | ||
| Q3 25 | 3.14× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | 3.86× | 0.44× | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 2.64× | — |
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% |
UGI
Segment breakdown not available.
