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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Block, Inc. is the larger business by last-quarter revenue ($6.3B vs $3.3B, roughly 1.9× ALASKA AIR GROUP, INC.). Block, Inc. runs the higher net margin — 1.9% vs -5.8%, a 7.7% gap on every dollar of revenue. On growth, ALASKA AIR GROUP, INC. posted the faster year-over-year revenue change (5.2% vs 3.6%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
ALK vs XYZ — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $6.3B |
| Net Profit | $-193.0M | $115.8M |
| Gross Margin | — | 45.9% |
| Operating Margin | -8.5% | 7.8% |
| Net Margin | -5.8% | 1.9% |
| Revenue YoY | 5.2% | 3.6% |
| Net Profit YoY | — | -94.1% |
| EPS (diluted) | $-1.69 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $3.8B | $6.1B | ||
| Q2 25 | $3.7B | $6.1B | ||
| Q1 25 | $3.1B | $5.8B | ||
| Q4 24 | $3.5B | $6.0B | ||
| Q3 24 | $3.1B | $6.0B | ||
| Q2 24 | $2.9B | $6.2B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $115.8M | ||
| Q3 25 | $73.0M | $461.5M | ||
| Q2 25 | $172.0M | $538.5M | ||
| Q1 25 | $-166.0M | $189.9M | ||
| Q4 24 | $71.0M | $1.9B | ||
| Q3 24 | $236.0M | $283.8M | ||
| Q2 24 | $220.0M | $195.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 43.5% | ||
| Q2 25 | — | 41.9% | ||
| Q1 25 | — | 39.7% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 36.3% |
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 7.8% | ||
| Q3 25 | 3.9% | 6.7% | ||
| Q2 25 | 7.5% | 8.0% | ||
| Q1 25 | -6.3% | 5.7% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 11.1% | 5.4% | ||
| Q2 24 | 11.1% | 5.0% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 1.9% | ||
| Q3 25 | 1.9% | 7.5% | ||
| Q2 25 | 4.6% | 8.9% | ||
| Q1 25 | -5.3% | 3.3% | ||
| Q4 24 | 2.0% | 32.3% | ||
| Q3 24 | 7.7% | 4.7% | ||
| Q2 24 | 7.6% | 3.2% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.19 | ||
| Q3 25 | $0.62 | $0.74 | ||
| Q2 25 | $1.42 | $0.87 | ||
| Q1 25 | $-1.35 | $0.30 | ||
| Q4 24 | $0.58 | $3.06 | ||
| Q3 24 | $1.84 | $0.45 | ||
| Q2 24 | $1.71 | $0.31 |
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 | $6.6B |
| Total DebtLower is stronger | $5.3B | — |
| Stockholders' EquityBook value | $3.7B | $22.2B |
| Total Assets | $20.3B | $39.5B |
| Debt / EquityLower = less leverage | 1.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $6.6B | ||
| Q3 25 | $2.3B | $8.3B | ||
| Q2 25 | $2.1B | $6.4B | ||
| Q1 25 | $2.5B | $7.1B | ||
| Q4 24 | $2.5B | $8.1B | ||
| Q3 24 | $2.5B | $8.3B | ||
| Q2 24 | $2.5B | $7.8B |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | — | ||
| Q3 25 | $5.0B | $7.3B | ||
| Q2 25 | $4.9B | $5.1B | ||
| Q1 25 | $4.8B | $5.1B | ||
| Q4 24 | $4.5B | $6.1B | ||
| Q3 24 | $4.6B | $6.1B | ||
| Q2 24 | $2.7B | $6.1B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $22.2B | ||
| Q3 25 | $4.0B | $22.5B | ||
| Q2 25 | $3.9B | $22.2B | ||
| Q1 25 | $4.1B | $21.5B | ||
| Q4 24 | $4.4B | $21.3B | ||
| Q3 24 | $4.5B | $19.9B | ||
| Q2 24 | $4.2B | $19.3B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $39.5B | ||
| Q3 25 | $20.0B | $39.2B | ||
| Q2 25 | $19.9B | $36.9B | ||
| Q1 25 | $19.8B | $36.4B | ||
| Q4 24 | $19.8B | $36.8B | ||
| Q3 24 | $19.6B | $36.4B | ||
| Q2 24 | $15.3B | $37.5B |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | — | ||
| Q3 25 | 1.24× | 0.32× | ||
| Q2 25 | 1.26× | 0.23× | ||
| Q1 25 | 1.16× | 0.24× | ||
| Q4 24 | 1.04× | 0.29× | ||
| Q3 24 | 1.03× | 0.31× | ||
| Q2 24 | 0.63× | 0.32× |
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 | $621.0M |
| Free Cash FlowOCF − Capex | — | $579.8M |
| FCF MarginFCF / Revenue | — | 9.3% |
| Capex IntensityCapex / Revenue | 10.2% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $621.0M | ||
| Q3 25 | $229.0M | $1.5B | ||
| Q2 25 | $376.0M | $374.3M | ||
| Q1 25 | $459.0M | $133.3M | ||
| Q4 24 | $274.0M | $13.8M | ||
| Q3 24 | $318.0M | $684.8M | ||
| Q2 24 | $580.0M | $519.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $579.8M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $343.0M | ||
| Q1 25 | — | $101.5M | ||
| Q4 24 | — | $-13.2M | ||
| Q3 24 | — | $628.2M | ||
| Q2 24 | — | $481.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | -0.2% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 7.8% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 5.36× | ||
| Q3 25 | 3.14× | 3.14× | ||
| Q2 25 | 2.19× | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 3.86× | 0.01× | ||
| Q3 24 | 1.35× | 2.41× | ||
| Q2 24 | 2.64× | 2.66× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
