Also trades as: 0HC3.L (LSE) · $vol 0M
ALK NYSE
Alaska Air Group, Inc.
1W: +4.5%
1M: -9.5%
3M: -21.6%
YTD: -30.3%
1Y: -17.9%
3Y: +12.2%
5Y: -36.9%
$35.91
+0.96 (+2.75%)
After Hours: $36.37 (+0.46, +1.27%)
Weekly Expected Move ±5.8%
$30
$32
$34
$36
$38
Credit Risk of going bust: higher than 80% of companies Debt: 65.2% of company value Bonds: $206.3M held by 222 funds, 134 bp over Treasuries → details ▾
Of US companies ranked in the third-riskiest tenth, about 1 in 140 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $4.14 (down 88%), Alaska Air Group, Inc. would be worth roughly what it owes.
Total debt $7.30B against a stock market value of $3.90B.
Distance to default 2.61 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $3.52B (short-term plus half of long-term), stock volatility 52.0%; Altman Z'' -0.43. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $4.14 (down 88%), Alaska Air Group, Inc. would be worth roughly what it owes.
Total debt $7.30B against a stock market value of $3.90B.
Distance to default 2.61 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $3.52B (short-term plus half of long-term), stock volatility 52.0%; Altman Z'' -0.43. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$1.2B
-14.7% ▼
Capital Expenditures
$1.6B
-24.0% ▼
5Y CAGR: +50.5%
Free Cash Flow
-$339M
-285.2% ▼
Dividends Paid
$0
+0.0% ▲
Buybacks
$570M
-82.7% ▼
Net Change in Cash
-$573M
-160.4% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $478M | $58M | $235M | $395M | $100M |
| Depreciation & Amort. | $394M | $415M | $451M | $583M | $0 |
| Stock-Based Comp. | $51M | $35M | $59M | $63M | $0 |
| Change in Working Capital | $118M | $407M | -$286M | $492M | $293M |
| Other Non-Cash Items | $434M | $481M | $591M | -$69M | $856M |
| Operating Cash Flow | $1.0B | $1.4B | $1.1B | $1.5B | $1.2B |
| — Investing Activities — | |||||
| Capital Expenditures | -$292M | -$1.7B | -$1.5B | -$1.3B | -$1.6B |
| Acquisitions (Net) | $2M | $4M | $0 | -$659M | $0 |
| Investment Purchases | -$4.3B | -$1.8B | $0 | -$832M | $0 |
| Investment Sales | $3.6B | $2.3B | $0 | $1.8B | $0 |
| Other Investing | -$10M | -$6M | $530M | $377M | -$35M |
| Investing Cash Flow | -$1.0B | -$1.2B | -$964M | -$634M | -$1.6B |
| — Financing Activities — | |||||
| Net Debt Issuance | -$971M | -$385M | $129M | $395M | $289M |
| Stock Repurchased | $0 | $0 | -$137M | -$312M | -$570M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | $57M | $60M | -$139M | $36M | $82M |
| Financing Cash Flow | -$914M | -$325M | -$147M | $119M | -$199M |
| Net Change in Cash | -$892M | -$125M | -$61M | $949M | -$573M |
| Cash End of Period | $494M | $369M | $308M | $1.3B | $684M |
| Free Cash Flow | $738M | -$253M | -$444M | $183M | -$339M |