Alaska Air Group, Inc. (ALK) Income Statement
ALK 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsALK revenue and net income
Where ALK's revenue goes
2025Each bar shows an amount and its share of revenue. ALK kept 0.7% of revenue as net income.
ALK profit margins
ALK growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +21.3% | +13.9% | +31.9% | +9.8% |
| Gross profit | +196.9% | +58.5% | — | +14.0% |
| Operating income | −46.8% | +63.0% | — | −13.5% |
| Net income | −74.7% | +19.9% | — | −19.2% |
| EPS (diluted) | −48.7% | −16.7% | — | −9.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ALK quarterly EPS vs estimates
Alaska Air beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 20, 2026 (estimate $0.35).
ALK income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.24B | $11.73B | $10.43B | $9.65B | $6.18B | $3.57B | $8.78B | $8.26B | $7.89B | $5.93B |
| Cost of revenue | $5.74B | $8.87B | $7.96B | $7.51B | $5.36B | $4.35B | $6.42B | $6.17B | $5.27B | $3.46B |
| Gross profit | $8.49B | $2.86B | $2.46B | $2.13B | $817.0M | −$783.0M | $2.37B | $2.09B | $2.63B | $2.46B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $5.84B | $698.0M | $611.0M | $3.19B | $2.54B | $202.0M | $626.0M | $3.39B | $3.16B | $2.35B |
| Total operating expenses | $8.19B | $2.29B | $2.07B | $2.06B | $132.0M | $992.0M | $1.30B | $1.45B | $1.42B | $1.16B |
| Operating income | $303.0M | $570.0M | $394.0M | $70.0M | $685.0M | −$1.77B | $1.06B | $643.0M | $1.21B | $1.31B |
| Interest income | $141.0M | $101.0M | $80.0M | $41.0M | $92.0M | $31.0M | $42.0M | $38.0M | $34.0M | $27.0M |
| Interest expense | $243.0M | $142.0M | $121.0M | $94.0M | $117.0M | $87.0M | $63.0M | $73.0M | $86.0M | $30.0M |
| Income before taxes | $146.0M | $545.0M | $323.0M | $79.0M | $629.0M | −$1.84B | $1.02B | $585.0M | $1.16B | $1.32B |
| Income taxes | $46.0M | $150.0M | $88.0M | $21.0M | $151.0M | −$516.0M | $247.0M | $148.0M | $199.0M | $519.0M |
| Net income | $100.0M | $395.0M | $235.0M | $58.0M | $478.0M | −$1.32B | $769.0M | $437.0M | $960.0M | $797.0M |
| EBITDA | $1.29B | $1.47B | $1.27B | $1.12B | $137.0M | −$1.92B | $1.49B | $1.19B | $1.70B | $1.77B |
| EPS (diluted) | $2.49 | $4.85 | $4.51 | $4.31 | −$2.10 | −$10.14 | $6.43 | $4.46 | $6.63 | $7.33 |
| Gross margin | 59.7% | 24.4% | 23.6% | 22.1% | 13.2% | −22.0% | 26.9% | 25.3% | 33.3% | 41.5% |
| Operating margin | 2.1% | 4.9% | 3.8% | 0.7% | 11.1% | −49.8% | 12.1% | 7.8% | 15.3% | 22.0% |
| Net margin | 0.7% | 3.4% | 2.3% | 0.6% | 7.7% | −37.1% | 8.8% | 5.3% | 12.2% | 13.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.07B | $3.30B | $3.63B | $3.77B | $3.70B | $3.14B | $3.53B | $3.07B | $2.90B | $2.23B | $2.55B | $2.84B |
| Cost of revenue | $434.0M | $212.0M | $208.0M | $151.0M | $2.76B | $2.63B | $2.76B | $2.19B | $1.99B | $1.93B | $2.07B | $2.09B |
| Gross profit | $3.63B | $3.30B | $3.42B | $3.62B | $946.0M | $510.0M | $771.0M | $878.0M | $906.0M | $307.0M | $482.0M | $751.0M |
| Sales, general & admin | $230.0M | $198.0M | $1.51B | $214.0M | $1.33B | $200.0M | $212.0M | $164.0M | $168.0M | $154.0M | $72.0M | $911.0M |
| Total operating expenses | $3.80B | $3.58B | $3.35B | $3.47B | $669.0M | $707.0M | $698.0M | $537.0M | $584.0M | $473.0M | $450.0M | $540.0M |
| Operating income | −$168.0M | −$279.0M | $75.0M | $148.0M | $277.0M | −$197.0M | $73.0M | $341.0M | $322.0M | −$166.0M | $32.0M | $211.0M |
| Interest income | $21.0M | $19.0M | $39.0M | $23.0M | $35.0M | $26.0M | $32.0M | $28.0M | $24.0M | $17.0M | — | $4.0M |
| Interest expense | $238.0M | $76.0M | $70.0M | $62.0M | $57.0M | $54.0M | $46.0M | $37.0M | $30.0M | $29.0M | $31.0M | $27.0M |
| Income before taxes | −$214.0M | −$317.0M | $30.0M | $111.0M | $238.0M | −$233.0M | $79.0M | $328.0M | $316.0M | −$178.0M | $4.0M | $193.0M |
| Income taxes | −$138.0M | −$124.0M | $9.0M | $38.0M | $66.0M | −$67.0M | $8.0M | $92.0M | $96.0M | −$46.0M | $6.0M | $54.0M |
| Net income | −$76.0M | −$193.0M | $21.0M | $73.0M | $172.0M | −$166.0M | $71.0M | $236.0M | $220.0M | −$132.0M | −$2.0M | $139.0M |
| EBITDA | $58.0M | −$94.0M | $301.0M | $376.0M | $533.0M | $84.0M | $350.0M | $550.0M | $592.0M | −$19.0M | $185.0M | $445.0M |
| EPS (diluted) | −$0.92 | −$1.68 | $0.43 | $1.05 | $1.78 | −$0.77 | $0.97 | $2.25 | $2.55 | −$0.92 | $0.30 | $1.83 |
| Gross margin | 89.3% | 100.0% | 94.3% | 96.0% | 25.5% | 16.3% | 21.8% | 28.6% | 31.3% | 13.8% | 18.9% | 26.5% |
| Operating margin | −4.1% | −8.5% | 2.1% | 3.9% | 7.5% | −6.3% | 2.1% | 11.1% | 11.1% | −7.4% | 1.3% | 7.4% |
| Net margin | −1.9% | −5.8% | 0.6% | 1.9% | 4.6% | −5.3% | 2.0% | 7.7% | 7.6% | −5.9% | −0.1% | 4.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ALK's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ALK financial results
In fiscal year 2025 (ended December 31, 2025), Alaska Air reported revenue of $14.2 billion, up 21.3% from the year before. It had net income of $100.0 million (down 74.7%), a net profit margin of 0.7%. Diluted earnings per share came to $2.49. Over five years revenue grew at an average rate of 31.9% a year.
See the ALK stock overview for the latest quote and news, or the ALK chart for price history and technical indicators.
ALK income statement FAQ
What is Alaska Air's annual revenue?
Alaska Air reported total revenue of $14.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 21.3% from $11.7 billion the previous year.
Is Alaska Air profitable?
Yes. Alaska Air reported net income of $100.0 million in fiscal 2025, a net profit margin of 0.7%; its operating margin was 2.1%.
What is Alaska Air's gross margin?
Alaska Air's gross margin was 59.7% in fiscal 2025: for every $100 of revenue, Alaska Air kept $60 after the direct cost of its products and services.
How fast is Alaska Air growing?
Revenue grew 31.9% a year on average over the last five fiscal years, from $3.6 billion to $14.2 billion.
What are Alaska Air's earnings per share?
Alaska Air earned $2.49 per diluted share in fiscal 2025, compared with $4.85 a year earlier.
When will Alaska Air report its next earnings?
Alaska Air is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 after the market closes.
When does Alaska Air's fiscal year end?
Alaska Air's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.