ALASKA AIR GROUP, INC.
ALK · Air Transportation, Scheduled · 111.4M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $52M (gross $137M, SBC $85M)
Reference price $56.63 · est. market cap ~$6.3B — last insider sale, 2026-02-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Airline working through the Hawaiian integration posted near-breakeven returns despite strong merger-driven revenue growth.
Strengths
- Revenue +21% (74th) with integration synergies on/ahead of plan; OCF margin 8.8% (55th)
- Strong loyalty franchise and major hub network as fourth-largest U.S. carrier
Risks
- Net margin 0.7%, ROE 2.4%, ROA 0.5% — near-zero returns; net income -75%
- Debt/equity 1.16 (90th), current ratio 0.50, plus integration, IT-outage and shutdown disruptions
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
2.1%
Net margin
0.7%
Return on equity
2.4%
Return on assets
0.5%
ROIC
2.7%
Revenue growth (QoQ)
-9.1%
Net-income growth
-74.7%
Debt / equity
1.2×
Net debt / EBITDA
2.4×
Current ratio
0.5×
EBITDA
$1.1B
Tangible book value
$580M
Cash & investments
$2.1B
Stock comp / revenue
0.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | SIEVERT G MICHAEL | Grant | 4.3K | $44.52 |
| 2026-05-13 | Shimer Peter A | Grant | 5.2K | $38.56 |
| 2026-05-13 | YEAMAN ERIC K | Grant | 5.2K | $38.56 |
| 2026-05-13 | Bedient Patricia M | Grant | 6.5K | $38.56 |
| 2026-05-13 | Hogan Kathleen T | Grant | 5.2K | $38.56 |
| 2026-05-13 | SANDVIK HELVI KAY | Grant | 5.2K | $38.56 |
| 2026-05-13 | Conner Raymond L. | Grant | 5.2K | $38.56 |
| 2026-05-13 | BEER JAMES A | Grant | 5.2K | $38.56 |
| 2026-05-13 | LOFTON ADRIENNE ROCHELLE | Grant | 5.2K | $38.56 |
| 2026-05-13 | ELWELL DANIEL KEVIN | Grant | 2.6K | $38.56 |
| 2026-05-13 | ELWELL DANIEL KEVIN | Grant | 2.6K | $38.56 |
| 2026-03-20 | Berry Jason M | Tax withheld | 279 | $36.91 |
| 2026-03-20 | Berry Jason M | Option exercise | 697 | — |
| 2026-02-18 | HARRISON ANDREW R | Sell | 5.5K | $56.63 |
| 2026-02-18 | TACKETT SHANE R | Sell | 24K | $57.15 |
| 2026-02-13 | BIRKETT RAKOW DIANA | Option exercise | 4.1K | — |
| 2026-02-13 | BIRKETT RAKOW DIANA | Tax withheld | 1.6K | $55.27 |
| 2026-02-13 | SCHNEIDER ANDREA L | Option exercise | 7.6K | — |
| 2026-02-13 | SCHNEIDER ANDREA L | Tax withheld | 2.9K | $55.27 |
| 2026-02-13 | SCHNEIDER ANDREA L | Option exercise | 4.5K | — |
| 2026-02-13 | SCHNEIDER ANDREA L | Tax withheld | 1.7K | $55.27 |
| 2026-02-13 | LEVINE KYLE B | Option exercise | 7.7K | — |
| 2026-02-13 | LEVINE KYLE B | Tax withheld | 3.1K | $55.27 |
| 2026-02-13 | LEVINE KYLE B | Option exercise | 5.9K | — |
| 2026-02-13 | HARRISON ANDREW R | Sell | 14K | $54.81 |
| 2026-02-13 | HARRISON ANDREW R | Option exercise | 17K | — |
| 2026-02-13 | HARRISON ANDREW R | Tax withheld | 6.4K | $55.27 |
| 2026-02-13 | HARRISON ANDREW R | Option exercise | 8.9K | — |
| 2026-02-13 | HARRISON ANDREW R | Tax withheld | 3.3K | $55.27 |
| 2026-02-13 | TACKETT SHANE R | Option exercise | 18K | — |
| 2026-02-13 | TACKETT SHANE R | Tax withheld | 7.2K | $55.27 |
| 2026-02-13 | TACKETT SHANE R | Option exercise | 10K | — |
| 2026-02-13 | TACKETT SHANE R | Tax withheld | 4.1K | $55.27 |
| 2026-02-13 | MINICUCCI BENITO | Option exercise | 39K | — |
| 2026-02-13 | MINICUCCI BENITO | Tax withheld | 15K | $55.27 |
| 2026-02-13 | MINICUCCI BENITO | Option exercise | 23K | — |
| 2026-02-13 | MINICUCCI BENITO | Tax withheld | 8.6K | $55.27 |
| 2026-02-13 | LEVINE KYLE B | Tax withheld | 2.4K | $55.27 |
| 2026-02-13 | Berry Jason M | Option exercise | 2.4K | — |
| 2026-02-13 | Berry Jason M | Tax withheld | 608 | $55.27 |
| 2026-02-13 | Berry Jason M | Option exercise | 2.7K | — |
| 2026-02-13 | Berry Jason M | Tax withheld | 1.1K | $55.27 |
| 2026-02-13 | HALVERSON EMILY | Option exercise | 2.5K | — |
| 2026-02-13 | HALVERSON EMILY | Tax withheld | 638 | $55.27 |
| 2026-02-13 | HALVERSON EMILY | Option exercise | 2.4K | — |
| 2026-02-13 | HALVERSON EMILY | Tax withheld | 597 | $55.27 |
| 2026-02-13 | VON MUEHLEN CONSTANCE E | Option exercise | 13K | — |
| 2026-02-13 | VON MUEHLEN CONSTANCE E | Tax withheld | 5.0K | $55.27 |
| 2026-02-13 | VON MUEHLEN CONSTANCE E | Option exercise | 8.9K | — |
| 2026-02-13 | VON MUEHLEN CONSTANCE E | Tax withheld | 3.3K | $55.27 |
| 2026-02-13 | BIRKETT RAKOW DIANA | Option exercise | 5.2K | — |
| 2026-02-13 | BIRKETT RAKOW DIANA | Tax withheld | 1.9K | $55.27 |
| 2026-02-11 | Berry Jason M | Tax withheld | 754 | $57.50 |
| 2026-02-11 | HALVERSON EMILY | Option exercise | 1.2K | — |
| 2026-02-11 | HALVERSON EMILY | Tax withheld | 295 | $57.50 |
| 2026-02-11 | VON MUEHLEN CONSTANCE E | Option exercise | 5.1K | — |
| 2026-02-11 | VON MUEHLEN CONSTANCE E | Tax withheld | 1.2K | $57.50 |
| 2026-02-11 | BIRKETT RAKOW DIANA | Option exercise | 2.5K | — |
| 2026-02-11 | BIRKETT RAKOW DIANA | Tax withheld | 603 | $57.50 |
| 2026-02-11 | SCHNEIDER ANDREA L | Option exercise | 2.8K | — |
| 2026-02-11 | SCHNEIDER ANDREA L | Tax withheld | 632 | $57.50 |
| 2026-02-11 | LEVINE KYLE B | Option exercise | 3.7K | — |
| 2026-02-11 | LEVINE KYLE B | Tax withheld | 1.0K | $57.50 |
| 2026-02-11 | HARRISON ANDREW R | Option exercise | 5.5K | — |
| 2026-02-11 | Berry Jason M | Option exercise | 3.1K | — |
| 2026-02-11 | HARRISON ANDREW R | Tax withheld | 2.1K | $57.50 |
| 2026-02-11 | TACKETT SHANE R | Option exercise | 6.4K | — |
| 2026-02-11 | TACKETT SHANE R | Tax withheld | 2.5K | $57.50 |
| 2026-02-11 | MINICUCCI BENITO | Option exercise | 15K | — |
| 2026-02-11 | MINICUCCI BENITO | Tax withheld | 5.8K | $57.50 |
| 2026-02-10 | TACKETT SHANE R | Grant | 18K | — |
| 2026-02-10 | Berry Jason M | Grant | 2.4K | — |
| 2026-02-10 | Berry Jason M | Tax withheld | 704 | $59.14 |
| 2026-02-10 | HALVERSON EMILY | Grant | 2.5K | — |
| 2026-02-10 | HALVERSON EMILY | Tax withheld | 760 | $59.14 |
| 2026-02-10 | VON MUEHLEN CONSTANCE E | Grant | 13K | — |
| 2026-02-10 | VON MUEHLEN CONSTANCE E | Tax withheld | 3.4K | $59.14 |
| 2026-02-10 | BIRKETT RAKOW DIANA | Grant | 5.1K | — |
| 2026-02-10 | BIRKETT RAKOW DIANA | Tax withheld | 1.4K | $59.14 |
| 2026-02-10 | SCHNEIDER ANDREA L | Grant | 7.5K | — |
| 2026-02-10 | SCHNEIDER ANDREA L | Tax withheld | 2.0K | $59.14 |
| 2026-02-10 | HARRISON ANDREW R | Grant | 17K | — |
| 2026-02-10 | HARRISON ANDREW R | Tax withheld | 4.5K | $59.14 |
| 2026-02-10 | TACKETT SHANE R | Tax withheld | 4.9K | $59.14 |
| 2026-02-10 | MINICUCCI BENITO | Grant | 39K | — |
| 2026-02-10 | MINICUCCI BENITO | Tax withheld | 13K | $59.14 |
| 2026-02-10 | LEVINE KYLE B | Grant | 7.7K | — |
| 2026-02-10 | LEVINE KYLE B | Tax withheld | 2.0K | $59.14 |
| 2026-02-09 | LEVINE KYLE B | Sell | 2.9K | $60.02 |
| 2026-02-05 | TACKETT SHANE R | Sell | 10K | $55.00 |
| 2025-11-05 | MINICUCCI BENITO | Option exercise | 3.9K | — |
| 2025-11-05 | MINICUCCI BENITO | Tax withheld | 1.6K | $41.86 |
| 2025-11-02 | HALVERSON EMILY | Option exercise | 970 | — |
| 2025-11-02 | HALVERSON EMILY | Tax withheld | 243 | $41.73 |
| 2025-11-02 | LEVINE KYLE B | Option exercise | 4.9K | — |
| 2025-11-02 | LEVINE KYLE B | Tax withheld | 1.9K | $41.73 |
| 2025-09-23 | Berry Jason M | Option exercise | 2.0K | — |
| 2025-09-23 | Berry Jason M | Tax withheld | 805 | $54.14 |
| 2025-08-18 | LEVINE KYLE B | Sell | 5.9K | $57.75 |
| 2025-08-13 | TACKETT SHANE R | Sell | 5.0K | $57.06 |
| 2025-07-28 | HARRISON ANDREW R | Sell | 7.6K | $53.22 |
| 2025-06-05 | HALVERSON EMILY | Sell | 790 | $51.26 |
| 2025-06-05 | HALVERSON EMILY | Sell | 2.2K | $51.37 |
| 2025-05-19 | HARRISON ANDREW R | Sell | 7.5K | $53.51 |
| 2025-05-08 | LOFTON ADRIENNE ROCHELLE | Grant | 2.7K | $52.77 |
| 2025-05-08 | ELWELL DANIEL KEVIN | Grant | 1.3K | $52.77 |
| 2025-05-08 | ELWELL DANIEL KEVIN | Grant | 1.3K | $52.77 |
| 2025-05-08 | BEER JAMES A | Grant | 2.7K | $52.77 |
| 2025-05-08 | Bedient Patricia M | Grant | 2.7K | $52.77 |
| 2025-05-08 | Shimer Peter A | Grant | 2.7K | $52.77 |
| 2025-05-08 | Hogan Kathleen T | Grant | 2.7K | $52.77 |
| 2025-05-08 | SANDVIK HELVI KAY | Grant | 2.7K | $52.77 |
| 2025-05-08 | Conner Raymond L. | Grant | 2.7K | $52.77 |
| 2025-05-08 | YEAMAN ERIC K | Grant | 2.7K | $52.77 |
| 2025-05-07 | VON MUEHLEN CONSTANCE E | Option exercise | 143 | — |
| 2025-05-07 | VON MUEHLEN CONSTANCE E | Sell | 33 | $50.16 |
| 2025-04-18 | HALVERSON EMILY | Option exercise | 960 | — |
| 2025-04-18 | HALVERSON EMILY | Tax withheld | 241 | $45.18 |
| 2025-03-20 | Berry Jason M | Option exercise | 697 | — |
| 2025-03-20 | Berry Jason M | Tax withheld | 170 | $52.85 |
| 2025-02-23 | VON MUEHLEN CONSTANCE E | Option exercise | 280 | — |
| 2025-02-23 | VON MUEHLEN CONSTANCE E | Tax withheld | 62 | $70.18 |
| 2025-02-20 | HARRISON ANDREW R | Sell | 6.6K | $76.28 |
| 2025-02-18 | VON MUEHLEN CONSTANCE E | Option exercise | 2.5K | $39.18 |
| 2025-02-18 | VON MUEHLEN CONSTANCE E | Option exercise | 10K | $55.36 |
| 2025-02-18 | VON MUEHLEN CONSTANCE E | Sell | 22K | $75.12 |
| 2025-02-13 | Berry Jason M | Option exercise | 2.7K | — |
| 2025-02-13 | Berry Jason M | Tax withheld | 664 | $72.54 |
| 2025-02-13 | HALVERSON EMILY | Option exercise | 2.4K | — |
| 2025-02-13 | HALVERSON EMILY | Tax withheld | 581 | $72.54 |
| 2025-02-13 | VON MUEHLEN CONSTANCE E | Option exercise | 8.9K | — |
| 2025-02-13 | VON MUEHLEN CONSTANCE E | Tax withheld | 3.3K | $72.54 |
| 2025-02-13 | BIRKETT RAKOW DIANA | Option exercise | 4.1K | — |
| 2025-02-13 | BIRKETT RAKOW DIANA | Tax withheld | 1.6K | $72.54 |
| 2025-02-13 | SCHNEIDER ANDREA L | Option exercise | 4.5K | — |
| 2025-02-13 | SCHNEIDER ANDREA L | Tax withheld | 1.7K | $72.54 |
| 2025-02-13 | LEVINE KYLE B | Option exercise | 5.9K | — |
| 2025-02-13 | LEVINE KYLE B | Tax withheld | 2.3K | $72.54 |
| 2025-02-13 | SPRAGUE JOSEPH A | Option exercise | 4.5K | — |
| 2025-02-13 | SPRAGUE JOSEPH A | Tax withheld | 1.7K | $72.54 |
| 2025-02-13 | HARRISON ANDREW R | Option exercise | 8.9K | — |
| 2025-02-13 | HARRISON ANDREW R | Tax withheld | 3.5K | $72.54 |
| 2025-02-13 | TACKETT SHANE R | Option exercise | 10K | — |
| 2025-02-13 | TACKETT SHANE R | Tax withheld | 4.0K | $72.54 |
| 2025-02-13 | MINICUCCI BENITO | Option exercise | 23K | — |
| 2025-02-13 | MINICUCCI BENITO | Tax withheld | 8.4K | $72.54 |
| 2025-02-11 | LEVINE KYLE B | Tax withheld | 2.9K | $72.85 |
| 2025-02-11 | HALVERSON EMILY | Grant | 392 | — |
| 2025-02-11 | HALVERSON EMILY | Tax withheld | 96 | $72.85 |
| 2025-02-11 | VON MUEHLEN CONSTANCE E | Grant | 13K | — |
| 2025-02-11 | VON MUEHLEN CONSTANCE E | Tax withheld | 5.1K | $72.85 |
| 2025-02-11 | BIRKETT RAKOW DIANA | Grant | 4.7K | — |
| 2025-02-11 | BIRKETT RAKOW DIANA | Tax withheld | 1.6K | $72.85 |
| 2025-02-11 | SCHNEIDER ANDREA L | Grant | 7.3K | — |
| 2025-02-11 | SCHNEIDER ANDREA L | Tax withheld | 2.9K | $72.85 |
| 2025-02-11 | LEVINE KYLE B | Grant | 7.3K | — |
| 2025-02-11 | SPRAGUE JOSEPH A | Grant | 6.8K | — |
| 2025-02-11 | SPRAGUE JOSEPH A | Tax withheld | 2.4K | $72.85 |
| 2025-02-11 | HARRISON ANDREW R | Grant | 17K | — |
| 2025-02-11 | HARRISON ANDREW R | Tax withheld | 6.6K | $72.85 |
| 2025-02-11 | TACKETT SHANE R | Grant | 17K | — |
| 2025-02-11 | TACKETT SHANE R | Tax withheld | 6.6K | $72.85 |
| 2025-02-11 | MINICUCCI BENITO | Grant | 34K | — |
| 2025-02-11 | MINICUCCI BENITO | Tax withheld | 13K | $72.85 |
| 2025-02-10 | TACKETT SHANE R | Option exercise | 276 | $65.63 |
| 2025-02-10 | TACKETT SHANE R | Option exercise | 8.5K | $39.18 |
| 2025-02-10 | TACKETT SHANE R | Sell | 23K | $75.74 |
| 2025-02-10 | TACKETT SHANE R | Option exercise | 925 | $65.37 |
| 2025-02-10 | TACKETT SHANE R | Option exercise | 13K | $55.36 |
| 2025-02-07 | HARRISON ANDREW R | Tax withheld | 2.9K | $75.92 |
| 2025-02-07 | TACKETT SHANE R | Option exercise | 7.4K | — |
| 2025-02-07 | TACKETT SHANE R | Tax withheld | 2.9K | $75.92 |
| 2025-02-07 | LEVINE KYLE B | Tax withheld | 1.2K | $75.92 |
| 2025-02-07 | HALVERSON EMILY | Option exercise | 1.1K | — |
| 2025-02-07 | SPRAGUE JOSEPH A | Option exercise | 3.0K | — |
| 2025-02-07 | SPRAGUE JOSEPH A | Tax withheld | 710 | $75.92 |
| 2025-02-07 | HARRISON ANDREW R | Option exercise | 7.4K | — |
| 2025-02-07 | MINICUCCI BENITO | Option exercise | 15K | — |
| 2025-02-07 | MINICUCCI BENITO | Tax withheld | 5.6K | $75.92 |
| 2025-02-07 | HALVERSON EMILY | Tax withheld | 259 | $75.92 |
| 2025-02-07 | VON MUEHLEN CONSTANCE E | Option exercise | 5.8K | — |
| 2025-02-07 | VON MUEHLEN CONSTANCE E | Tax withheld | 2.1K | $75.92 |
| 2025-02-07 | BIRKETT RAKOW DIANA | Option exercise | 2.1K | — |
| 2025-02-07 | BIRKETT RAKOW DIANA | Tax withheld | 509 | $75.92 |
| 2025-02-07 | SCHNEIDER ANDREA L | Option exercise | 3.2K | — |
| 2025-02-07 | SCHNEIDER ANDREA L | Tax withheld | 885 | $75.92 |
| 2025-02-07 | LEVINE KYLE B | Option exercise | 3.2K | — |
| 2025-01-30 | SCHNEIDER ANDREA L | Sell | 1.8K | $73.32 |
| 2025-01-30 | LEVINE KYLE B | Gift | 30 | — |
| 2025-01-30 | SCHNEIDER ANDREA L | Option exercise | 1.8K | $65.37 |
| 2025-01-29 | LEVINE KYLE B | Sell | 1.6K | $72.54 |
| 2025-01-29 | LEVINE KYLE B | Sell | 2.8K | $72.59 |
| 2025-01-29 | LEVINE KYLE B | Option exercise | 1.6K | $65.37 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 20K | $66.57 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 8.8K | $55.36 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 14K | $55.74 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 18K | $66.89 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 5.5K | $65.63 |
| 2025-01-28 | HARRISON ANDREW R | Sell | 92K | $71.14 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 3.1K | $65.37 |
| 2025-01-28 | HARRISON ANDREW R | Option exercise | 23K | $64.55 |
| 2025-01-24 | MINICUCCI BENITO | Sell | 9.9K | $69.93 |
| 2025-01-24 | SPRAGUE JOSEPH A | Sell | 9.5K | $68.90 |
| 2025-01-24 | MINICUCCI BENITO | Option exercise | 9.9K | $65.37 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-06-03 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-14 | Shareholder vote | filing ↗ |
| 2026-05-12 | Material agreementDebt obligation | filing ↗ |
| 2026-05-07 | OtherExhibits | filing ↗ |
| 2026-05-06 | OtherExhibits | filing ↗ |
| 2026-04-20 | Material agreementResultsReg FDExhibits | filing ↗ |
| 2026-03-30 | Reg FD | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-17 | 0000766421-26-000032 ↗ |
| 8-K | 2026-06-03 | 2026-06-03 | 0000766421-26-000029 ↗ |
| 8-K | 2026-05-14 | 2026-05-14 | 0000766421-26-000027 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0000766421-26-000025 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000766421-26-000023 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000766421-26-000021 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000766421-26-000019 ↗ |
| 8-K | 2026-04-20 | 2026-04-20 | 0000766421-26-000015 ↗ |
| 8-K | 2026-03-30 | 2026-03-30 | 0000766421-26-000012 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0000766421-26-000010 ↗ |
| 8-K | 2026-01-22 | 2026-01-22 | 0000766421-26-000007 ↗ |
| 8-K | 2026-01-07 | 2025-12-31 | 0000766421-26-000004 ↗ |