Alaska Air Group, Inc. (ALK) stock
ALKNYSEAir Transportation, ScheduledFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 5/3048% below fair value
$39.05−1.98 (-4.83%)
Close on Nov 12, 2026Market cap $4.36BP/E –Yield –
Alaska Air operating margin
Operating margin is operating income as a percentage of revenue.
Alaska Air's operating margin for the twelve months ending Sep 30, 2026 was -1.9%. For fiscal 2025 it was 2.1%, against 4.9% the year before. The highest annual figure on record is 22.0% in fiscal 2016.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 2.1% | −2.7 |
| FY2024 | Dec 31, 2024 | 4.9% | +1.1 |
| FY2023 | Dec 31, 2023 | 3.8% | +3.1 |
| FY2022 | Dec 31, 2022 | 0.7% | −10.4 |
| FY2021 | Dec 31, 2021 | 11.1% | +60.9 |
| FY2020 | Dec 31, 2020 | -49.8% | −61.9 |
| FY2019 | Dec 31, 2019 | 12.1% | +4.3 |
| FY2018 | Dec 31, 2018 | 7.8% | −7.5 |
| FY2017 | Dec 31, 2017 | 15.3% | −6.7 |
| FY2016 | Dec 31, 2016 | 22.0% | +9.8 |
| FY2010 | Dec 31, 2010 | 12.3% | +4.4 |
| FY2009 | Dec 31, 2009 | 7.9% | +12.6 |
| FY2008 | Dec 31, 2008 | -4.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 1.9% | −2.0 |
| Q2 FY2026 | Jun 30, 2026 | -4.1% | −11.6 |
| Q1 FY2026 | Mar 31, 2026 | -8.5% | −2.2 |
| Q4 FY2025 | Dec 31, 2025 | 2.1% | −0.0 |
| Q3 FY2025 | Sep 30, 2025 | 3.9% | −7.2 |
| Q2 FY2025 | Jun 30, 2025 | 7.5% | −3.6 |
| Q1 FY2025 | Mar 31, 2025 | -6.3% | +1.2 |
| Q4 FY2024 | Dec 31, 2024 | 2.1% | +0.8 |
| Q3 FY2024 | Sep 30, 2024 | 11.1% | +3.7 |
| Q2 FY2024 | Jun 30, 2024 | 11.1% | −0.8 |
| Q1 FY2024 | Mar 31, 2024 | -7.4% | +1.0 |
| Q4 FY2023 | Dec 31, 2023 | 1.3% | +0.3 |
| Q3 FY2023 | Sep 30, 2023 | 7.4% | +5.2 |
| Q2 FY2023 | Jun 30, 2023 | 11.9% | +4.8 |
| Q1 FY2023 | Mar 31, 2023 | -8.5% | +3.5 |
| Q4 FY2022 | Dec 31, 2022 | 0.9% | −1.1 |
| Q3 FY2022 | Sep 30, 2022 | 2.2% | −11.0 |
| Q2 FY2022 | Jun 30, 2022 | 7.0% | −28.9 |
| Q1 FY2022 | Mar 31, 2022 | -12.0% | +8.2 |
| Q4 FY2021 | Dec 31, 2021 | 2.1% | +75.7 |
| Q3 FY2021 | Sep 30, 2021 | 13.2% | +94.7 |
| Q2 FY2021 | Jun 30, 2021 | 36.0% | +104.4 |
| Q1 FY2021 | Mar 31, 2021 | -20.2% | −0.6 |
| Q4 FY2020 | Dec 31, 2020 | -73.6% | −84.9 |
| Q3 FY2020 | Sep 30, 2020 | -81.5% | −99.1 |
| Q2 FY2020 | Jun 30, 2020 | -68.4% | −84.3 |
| Q1 FY2020 | Mar 31, 2020 | -19.6% | −21.0 |
| Q4 FY2019 | Dec 31, 2019 | 11.3% | +9.1 |
| Q3 FY2019 | Sep 30, 2019 | 17.7% | +4.2 |
| Q2 FY2019 | Jun 30, 2019 | 15.9% | +3.3 |
| Q1 FY2019 | Mar 31, 2019 | 1.3% | −0.3 |
| Q4 FY2018 | Dec 31, 2018 | 2.2% | −4.8 |
| Q3 FY2018 | Sep 30, 2018 | 13.4% | −6.8 |
| Q2 FY2018 | Jun 30, 2018 | 12.6% | −10.6 |
| Q1 FY2018 | Mar 31, 2018 | 1.6% | −7.4 |
| Q4 FY2017 | Dec 31, 2017 | 7.1% | −6.0 |
| Q3 FY2017 | Sep 30, 2017 | 20.2% | – |
| Q2 FY2017 | Jun 30, 2017 | 23.2% | – |
| Q1 FY2017 | Mar 31, 2017 | 9.0% | – |
| Q4 FY2016 | Dec 31, 2016 | 13.0% | – |
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