Alaska Air (ALK) Gross Margin (2009 - 2026)
Alaska Air (ALK) posted quarterly Gross Margin of 97.0% for Q1 2026, up 19.0% year-over-year from 81.51% in Q1 2025, and up 22.07% quarter-over-quarter from 79.46% in Q4 2025.
Alaska Air (ALK) Gross Margin (2009 - 2026) Analysis & Trends
Alaska Air (ALK) has reported Gross Margin for 18 consecutive years, with 97.0% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 19.0% year-over-year to 97.0%; the TTM figure through Mar 2026 stood at 90.64% (down 305.0% YoY), while the FY2025 annual figure was 92.57%, down 15.0% from the prior year.
- Gross Margin improved to 97.0% in Q1 2026 per ALK's latest filing, from 79.46% in the prior quarter.
- Across five years, Gross Margin topped out at 109.72% in Q4 2022 and bottomed at 69.97% in Q4 2024.
- Historically, Gross Margin has averaged 93.75% across 5 years, with a median of 96.55% in 2022.
- Annual changes were most pronounced in 2024 — Gross Margin slumped 2721 bps — and 2025, when it surged 949 bps.
- Alaska Air's Gross Margin stood at 109.72% in 2022, then decreased by 11 bps to 97.18% in 2023, then slipped by 28 bps to 69.97% in 2024, then climbed by 14 bps to 79.46% in 2025, then rose by 22 bps to 97.0% in 2026.
- Business Quant data shows ALK's Gross Margin at 97.0% in Q1 2026, 79.46% in Q4 2025, and 93.2% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.88 Bn | 49.22 Bn | 19.07 Bn | 96.52% |
| 2 | Ryanair Holdings | 29.17 Bn | 25.96 Bn | - | - |
| 3 | Southwest Airlines | 19.73 Bn | 15.94 Bn | 7.33 Bn | 86.94% |
| 4 | Copa Holdings | 5.34 Bn | 4.08 Bn | 1.03 Bn | 97.11% |
| 5 | Alaska Air | 4.54 Bn | 1.88 Bn | 3.76 Bn | 92.57% |
| 6 | Skywest | 4.00 Bn | 3.40 Bn | 1.01 Bn | 91.70% |
| 7 | Allegiant Travel | 1.81 Bn | 761.20 Mn | 902.77 Mn | 95.68% |
| 8 | Jetblue Airways | 1.78 Bn | -240.11 Mn | 2.32 Bn | 85.95% |
| 9 | Frontier Group Holdings | 1.33 Bn | 376.57 Mn | - | - |
| 10 | Republic Airways Holdings | 867.09 Mn | 589.49 Mn | 487.40 Mn | 85.34% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 92.57% |
| Mar 31, 2026 | 97.00% |
| Dec 31, 2025 | 79.46% |
| Sep 30, 2025 | 93.20% |
| Jun 30, 2025 | 93.33% |
| Mar 31, 2025 | 96.81% |
| Dec 31, 2024 | 69.97% |
| Sep 30, 2024 | 97.33% |
| Jun 30, 2024 | 93.58% |
| Mar 31, 2024 | 96.55% |
| Dec 31, 2023 | 97.18% |
| Sep 30, 2023 | 97.04% |
| Jun 30, 2023 | 93.59% |
| Mar 31, 2023 | 91.94% |
| Dec 31, 2022 | 109.72% |
| Sep 30, 2022 | 97.10% |
| Jun 30, 2022 | 93.34% |
| Mar 31, 2022 | 96.55% |
| Dec 31, 2021 | 105.42% |
| Sep 30, 2021 | 93.55% |