Company Analysis

Alaska Air Group, Inc. (ALK)

NYSE: ALK · Air Transportation, Scheduled · Seattle, WA · filing with the SEC since 1994
Grade6.7
◀ Past 8.2● Present 6.0▶ Future 6.1

The grade of Alaska Air Group, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.7/10
◀ Past8.230% of the headline
● Present6.040% of the headline
▶ Future6.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

8.2/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
6.5/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 65th percentile among 17 sector filers · read for itself

From the record

Alaska Air Group, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
9.5/10

What has it actually done, year after year?

+13.9% a year over 4 filed years; profitable in 4 of 4.

weight 45% of this tense · 95th percentile among 14 sector filers · read for its customers

From the record

Alaska Air Group, Inc.'s 4 filed years say what it did: revenue went from $9.6 billion in fiscal 2022 to $14 billion in fiscal 2025, up 13.9% a year; it rose in 3 of 3 years; it never fell from a peak; net income was positive in 4 of 4 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span13.9%top 11% of its family
  • the share of years revenue rosetop 4% of its family
  • the share of filed years with a profittop 4% of its family
  • the deepest fall from a revenue peak0.0%top 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
8.3/10

How has it treated the people who own it?

Share count shrank 2.1% a year. 27% of cash flow returned. Insiders: 6 sales, 1 purchases.

weight 22% of this tense · 83rd percentile among 13 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Alaska Air Group, Inc.'s diluted share count shrank about 2.1% a year, and dividends and buybacks returned about 27% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 6 sales and 1 purchase of their own stock on the open market in the year to 2026-11-09, buying about $1 million (their Form 4 filings).

What it rests on

  • the share count over the yearstop 23% of its family
  • cash returned against operating cash flowtop 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.0/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.4/10

Is it financially healthy right now?

ROE 2%: 2¢ of profit per shareholder dollar. Leverage 80%: owes 80¢ per asset dollar.

weight 33% of this tense · 54th percentile among 15 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Alaska Air Group, Inc. earned about 2 cents of profit for every dollar of shareholders' money. Leverage: it owed about 80 cents per dollar of assets, and net share issuance: its share count shrank 6.6% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 47% of its family
  • return on equitybottom 32% of its family
  • the share count against the year beforetop 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.8/10

How strong is its position in its industry?

top 41% of 14 in its family; net margin 0.7%.

weight 45% of this tense · 59th percentile among 14 sector filers · read for its customers

From the record

Alaska Air Group, Inc.'s standing among 14 graded names in its industry family: revenue of $14 billion in fiscal 2025 ranks in the top 46% by size; a net margin of 0.7% ranks in the bottom 39%; revenue growth of 13.9% a year over the last 3 filed years ranks in the top 18% (its annual reports).

What it rests on

  • revenue against the family$14.24Btop 46% of its family
  • net margin0.7%bottom 39% of its family
  • three-year revenue growth13.9%top 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
7.1/10

What are the people in charge doing?

top 29% of 10 in its family for leadership; chief executive since 2021.

weight 22% of this tense · 71st percentile among 10 sector filers · read for its shareholders

From the record

Alaska Air Group, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Minicucci, Benito (CEO AND PRESIDENT, as filed), filing under that title since 2021-10-04, 5.1 years (top 45% of its family); the 22 officers and directors filing in the last fifteen months have been on the record a median of 8 years (top 28%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 22 people in charge now (top 14%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge4 in three years among 22 peopletop 14% of its family
  • the median years the people in charge have filed8.0 yearstop 28% of its family
  • the chief executive's years on the record5.1 yearstop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

6.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
6.0/10

How much room does it have to grow?

top 40% of 14 in its family for room to expand.

weight 22% of this tense · 60th percentile among 14 sector filers · read for itself

From the record

Alaska Air Group, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $627 million against debt of $4.8 billion leaves -20.3% of its assets as net cash, top 47% of its family; cash from operations less capital spending is 8.8% of revenue (top 32%) (its annual report).

What it rests on

  • cash less debt against assets-20.3%top 47% of its family
  • cash from operations less capital spending against revenue8.8%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
7.5/10

What could actually drive growth from here?

top 25% of 14 in its family for growth drivers.

weight 45% of this tense · 75th percentile among 14 sector filers · read for its customers

From the record

Alaska Air Group, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 13.9% a year over the last three filed years against 13.9% over all 4, speeding up (bottom 32% of its family); the newest year grew 21.4% (top 4%); capital spending grew 88.9% a year (top 4%) (its annual reports). Alaska Air Group, Inc. reported 3 lines of business in fiscal 2025: Alaska Airlines at $9.1 billion, Hawaiian Airlines at $3.3 billion, Regional at $1.9 billion. 3 of 3 grew in the latest filed year, and the largest line is 64% of revenue (its annual report).

What it rests on

  • three-year growth against the whole span+0.0 points a yearbottom 32% of its family
  • the newest year's revenue growth21.4%top 4% of its family
  • three-year growth of capital spending88.9%top 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.2/10

Did its newest year beat what its own record pointed to?

bottom 42% of 14 in its family for expectations against reality.

weight 33% of this tense · 42nd percentile among 14 sector filers · read for its shareholders

From the record

Alaska Air Group, Inc.'s newest year against its own record: revenue of $14 billion in fiscal 2025 came in 10% above the $13 billion its prior three years' pace pointed to (top 11% of its family); net income of $100 million against a prior three-year average of $229 million (bottom 18%); a net margin of 0.7% against 2.1% before (bottom 18%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace10.0%top 11% of its family
  • net income against the prior three years' average-56%bottom 18% of its family
  • net margin against its prior average-1.4 pointsbottom 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ALK · research, not advice