vs
Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Workday, Inc. (WDAY). 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 $2.4B, roughly 1.4× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs -5.8%, a 16.2% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 5.2%). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% 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.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
ALK vs WDAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.4B |
| Net Profit | $-193.0M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | -8.5% | 10.6% |
| Net Margin | -5.8% | 10.4% |
| Revenue YoY | 5.2% | 12.6% |
| Net Profit YoY | — | 30.6% |
| EPS (diluted) | $-1.69 | $0.94 |
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 | $2.4B | ||
| Q3 25 | $3.8B | $2.3B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.1B | $2.2B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $2.9B | $2.0B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $252.0M | ||
| Q3 25 | $73.0M | $228.0M | ||
| Q2 25 | $172.0M | $68.0M | ||
| Q1 25 | $-166.0M | $94.0M | ||
| Q4 24 | $71.0M | $193.0M | ||
| Q3 24 | $236.0M | $132.0M | ||
| Q2 24 | $220.0M | $107.0M |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 10.6% | ||
| Q3 25 | 3.9% | 10.6% | ||
| Q2 25 | 7.5% | 1.7% | ||
| Q1 25 | -6.3% | 3.4% | ||
| Q4 24 | 2.1% | 7.6% | ||
| Q3 24 | 11.1% | 5.3% | ||
| Q2 24 | 11.1% | 3.2% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 10.4% | ||
| Q3 25 | 1.9% | 9.7% | ||
| Q2 25 | 4.6% | 3.0% | ||
| Q1 25 | -5.3% | 4.3% | ||
| Q4 24 | 2.0% | 8.9% | ||
| Q3 24 | 7.7% | 6.3% | ||
| Q2 24 | 7.6% | 5.4% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.94 | ||
| Q3 25 | $0.62 | $0.84 | ||
| Q2 25 | $1.42 | $0.25 | ||
| Q1 25 | $-1.35 | $0.34 | ||
| Q4 24 | $0.58 | $0.72 | ||
| Q3 24 | $1.84 | $0.49 | ||
| Q2 24 | $1.71 | $0.40 |
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 | $6.8B |
| Total DebtLower is stronger | $5.3B | — |
| Stockholders' EquityBook value | $3.7B | $8.9B |
| Total Assets | $20.3B | $17.8B |
| Debt / EquityLower = less leverage | 1.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $6.8B | ||
| Q3 25 | $2.3B | $8.2B | ||
| Q2 25 | $2.1B | $8.0B | ||
| Q1 25 | $2.5B | $8.0B | ||
| Q4 24 | $2.5B | $7.2B | ||
| Q3 24 | $2.5B | $7.4B | ||
| Q2 24 | $2.5B | $7.2B |
| 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 | $3.0B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $8.9B | ||
| Q3 25 | $4.0B | $9.2B | ||
| Q2 25 | $3.9B | $8.9B | ||
| Q1 25 | $4.1B | $9.0B | ||
| Q4 24 | $4.4B | $8.6B | ||
| Q3 24 | $4.5B | $8.3B | ||
| Q2 24 | $4.2B | $8.2B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $17.8B | ||
| Q3 25 | $20.0B | $18.0B | ||
| Q2 25 | $19.9B | $17.2B | ||
| Q1 25 | $19.8B | $18.0B | ||
| Q4 24 | $19.8B | $16.4B | ||
| Q3 24 | $19.6B | $16.2B | ||
| Q2 24 | $15.3B | $15.9B |
| 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× | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | — | $550.0M |
| FCF MarginFCF / Revenue | — | 22.6% |
| Capex IntensityCapex / Revenue | 10.2% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $588.0M | ||
| Q3 25 | $229.0M | $616.0M | ||
| Q2 25 | $376.0M | $457.0M | ||
| Q1 25 | $459.0M | $1.1B | ||
| Q4 24 | $274.0M | $406.0M | ||
| Q3 24 | $318.0M | $571.0M | ||
| Q2 24 | $580.0M | $372.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $550.0M | ||
| Q3 25 | — | $588.0M | ||
| Q2 25 | — | $421.0M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $359.0M | ||
| Q3 24 | — | $516.0M | ||
| Q2 24 | — | $291.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 46.4% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 14.6% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 2.33× | ||
| Q3 25 | 3.14× | 2.70× | ||
| Q2 25 | 2.19× | 6.72× | ||
| Q1 25 | — | 11.83× | ||
| Q4 24 | 3.86× | 2.10× | ||
| Q3 24 | 1.35× | 4.33× | ||
| Q2 24 | 2.64× | 3.48× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
