Alaska Air Group, Inc.

ALKNYSEIndustrials● Active

$42.82

+$0.13(+0.30%)

Market Cap$4.8B

P/E Ratio—

52W High$65.88

52W Low$33.03

Avg Volume4.5M

Open$42.62

Beta1.31

Free Cash Flow Financials Revenue

Alaska Air Group, Inc. (ALK) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ALK · free cash flow · updated Jun 8, 2026

Core FCF metrics

ALK · FCF · TTM · margin & CAGR

Free cash flow was −$339.0M for FY2025 (fiscal year ending 2025-12-31), down 285.2% year-over-year The FCF margin was -2.4%.

FY2025 Free Cash Flow−$339.0M▼ -285.2% YoY

Trailing 12M (TTM)−$477.0Mtrailing 4 quarters sum

FCF Margin-2.4%−$339.0M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ALK · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.25B(1.59B)−$339.0M▼ 285.2%-2.4%

FY2024$1.46B(1.28B)$183.0M▲ +141.2%1.6%

FY2023$1.05B(1.49B)−$444.0M▼ 75.5%-4.3%

FY2022$1.42B(1.67B)−$253.0M▼ 134.3%-2.6%

FY2021$1.03B(292M)$738.0M▲ +267.7%11.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ALK · P/FCF · FCF yield · FCF per share

Alaska Air Group, Inc. (ALK) reported negative free cash flow of −$0.34B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ALK · cash flow statement · operating / investing / financing

For FY2025, Alaska Air Group, Inc. generated $1.25B in operating cash flow and spent 1.59B in capital expenditures, yielding −$339.0M in free cash flow.

Operating Activities

+$1.25B

Cash from core business operations

2025-12-31

Investing Activities

−$1.62B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$199.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.25B) − |CapEx| (1.59B) = FCF (−$339.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

ALK vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Alaska Air Group, Inc.YOU

ALK

−$339.0M-285.2%-2.4%

Loss

Union Pacific Corporation

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Alaska Air Group, Inc. (ALK) reported free cash flow of −$339.0M for FY2025 (fiscal year ending 2025-12-31), down 285.2% year-over-year. The FCF margin was -2.4%.

Based on available data, Alaska Air Group, Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $1.03B in FY2019.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ALK free cash flow · 8 questions

Alaska Air Group, Inc. free cash flow was −$339.0M for FY2025, down 285.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$477.0M.

ALK free cash flowALK FCFALK FCF 2025ALK free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Alaska Air Group, Inc. · Alaska Air Group, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026