Alaska Air (ALK) Operating Margin (2009 - 2026)

Alaska Air (ALK) has 18 years of Operating Margin data on file, last reported at 8.45% in Q1 2026.

• On a quarterly basis, Operating Margin fell 217.0% year-over-year to 8.45% in Q1 2026; TTM through Mar 2026 was 1.53%, a 387.0% decrease from a year earlier, with the FY2025 full-year figure at 2.13%, down 273.0% from the prior year.
• Operating Margin for Q1 2026 stood at 8.45%, down from 2.06% in the prior quarter.
• Over the last five years, Operating Margin for ALK reached as high as 11.87% in Q2 2023 and fell as low as 12.02% in Q1 2022.
• Historically, Operating Margin has averaged 1.89% across 5 years, with a median of 2.19% in 2022.
• On a YoY basis, Operating Margin climbed as much as 818 bps in 2022 and fell as far as 2892 bps in 2022.
• Year by year, Operating Margin 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 slumped by 75 bps to 2.06% in 2025, then sank by 509 bps to 8.45% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 8.45% in Q1 2026, 2.06% in Q4 2025, and 3.93% in Q3 2025.