Alaska Air (ALK) Operating Margin (2009 - 2026)
Alaska Air (ALK) reported Operating Margin of 8.45% for Q1 2026, down 217.0% year-over-year from 7.23% in Q1 2025, and down 509.43% quarter-over-quarter from 2.06% in Q4 2025.
Alaska Air (ALK) Operating Margin (2009 - 2026) Analysis & Trends
Alaska Air (ALK) has 18 years of Operating Margin data on file, last reported at 8.45% in Q1 2026.
- Operating Margin for Q1 2026 came in at 8.45%, down 217.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 1.53% (down 55.0% YoY), and the FY2025 annual result was 2.13%, down 273.0% from the prior year.
- Operating Margin eased to 8.45% in Q1 2026 per ALK's latest filing, from 2.06% in the prior quarter.
- Over five years, Operating Margin peaked at 11.87% in Q2 2023 and troughed at 54.74% in Q3 2024.
- A 5-year average of 1.98% and a median of 2.06% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 6217 bps in 2024, then jumped 5867 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 0.93% in 2022, then jumped by 35 bps to 1.25% in 2023, then surged by 570 bps to 8.4% in 2024, then sank by 75 bps to 2.06% in 2025, then plunged by 509 bps to 8.45% in 2026.
- Business Quant data shows ALK's Operating Margin at 8.45% in Q1 2026, 2.06% in Q4 2025, and 3.93% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ryanair Holdings | 453.97 Bn | 448.50 Bn | 1.55 Bn | -20.08% |
| 2 | Delta Air Lines | 54.89 Bn | 49.84 Bn | 15.19 Bn | 3.16% |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 47.52 Bn | 46.49 Bn | -239.00 Mn | 186.84% |
| 4 | Southwest Airlines | 23.88 Bn | 20.55 Bn | 6.21 Bn | 4.55% |
| 5 | Copa Holdings | 6.22 Bn | 4.88 Bn | 713.71 Mn | 21.77% |
| 6 | Alaska Air | 5.64 Bn | 3.87 Bn | 3.20 Bn | -8.45% |
| 7 | Skywest | 3.71 Bn | 3.08 Bn | 924.11 Mn | 12.21% |
| 8 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 2.23 Bn | 2.23 Bn | - | -2.73% |
| 9 | Jetblue Airways | 2.11 Bn | -62.86 Mn | 1.87 Bn | -10.00% |
| 10 | Allegiant Travel | 1.82 Bn | 921.81 Mn | 651.87 Mn | 12.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -8.45% |
| Dec 31, 2025 | 2.06% |
| Sep 30, 2025 | 3.93% |
| Jun 30, 2025 | 7.48% |
| Mar 31, 2025 | -6.28% |
| Dec 31, 2024 | 8.40% |
| Sep 30, 2024 | -54.74% |
| Jun 30, 2024 | 11.11% |
| Mar 31, 2024 | -7.44% |
| Dec 31, 2023 | 1.25% |
| Sep 30, 2023 | 7.43% |
| Jun 30, 2023 | 11.87% |
| Mar 31, 2023 | -8.47% |
| Dec 31, 2022 | 0.93% |
| Sep 30, 2022 | 2.19% |
| Jun 30, 2022 | 7.04% |
| Mar 31, 2022 | -12.02% |
| Dec 31, 2021 | 2.05% |
| Sep 30, 2021 | 13.21% |
| Jun 30, 2021 | 35.95% |