ALASKA AIR GROUP, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $14.2B | $11.7B | $10.4B | $9.6B | $6.2B |
| Operating expenses | — | $11.2B | $10.0B | $9.6B | $5.5B |
| Operating income | $303.0M | $570.0M | $394.0M | $70.0M | $685.0M |
| Interest expense | $272.0M | $171.0M | $121.0M | $108.0M | $128.0M |
| Pretax income | $146.0M | $545.0M | $323.0M | $79.0M | $629.0M |
| Income tax expense | $46.0M | $150.0M | $88.0M | $21.0M | $151.0M |
| Net income | $100.0M | $395.0M | $235.0M | $58.0M | $478.0M |
| Balance Sheet | |||||
| Cash and equivalents | $627.0M | $1.2B | $281.0M | $338.0M | $470.0M |
| Current assets | $3.3B | $3.8B | $2.7B | $3.0B | $3.9B |
| Total assets | $20.4B | $19.8B | $14.6B | $14.2B | $14.0B |
| Current liabilities | $6.6B | $6.1B | $4.5B | $4.5B | $4.0B |
| Total debt | $5.4B | $5.0B | $2.5B | $2.2B | $2.6B |
| Stockholders' equity | $4.1B | $4.4B | $4.1B | $3.8B | $3.8B |
| Cash Flow Statement | |||||
| Cash from operations | $1.2B | $1.5B | $1.1B | $1.4B | $1.0B |
| Depreciation and amortization | $795.0M | $583.0M | $451.0M | $415.0M | $394.0M |
| Stock-based compensation | $10.0M | $63.0M | $85.0M | $42.0M | $51.0M |
| Capital expenditure | $309.0M | $293.0M | $1.5B | $1.7B | $292.0M |
| Free cash flow | $940.0M | $1.2B | -$444.0M | -$253.0M | $738.0M |
| Dividends paid | — | — | — | $0 | $0 |
| Share repurchases | $570.0M | $312.0M | $137.0M | $0 | $0 |
| Impairments | — | — | — | $481.0M | — |
Shares outstanding 111.4M · Free float 89.3%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.