ALK Alaska Air Group margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 25

Gross margin

49.5%

Operating margin

-1.9%

EBITDA margin

4.4%

Net margin

-2.6%

At present, Alaska Air Group reports a gross margin of 49.5%, an operating margin of -1.9%, an EBITDA margin of 4.4%, and a net margin of -2.6%; its operating margin is negative at -1.9%, and its net margin is negative at -2.6%. Gross margin had the largest decline, decreasing by 5.2 percentage points, while the other available margins also declined.

ALK margin history

Gross, operating, EBITDA and net margin trends

Alaska Air Group's margins averaged 54.11% gross, 2.64% operating, 8.64% EBITDA, and 1.4% net during the last 3 years. The current gross, operating, EBITDA, and net margins are each below their three-year averages.

ALK margin expansion

Year-over-year margin changes in percentage points

The biggest contraction was in gross margin, which fell by 5.2 percentage points. The other available margins also declined.

Gross margin expansion

-5.2pp

Operating margin expansion

-4pp

EBITDA margin expansion

-4.4pp

Net margin expansion

-3.7pp

ALK Gross margin

Alaska Air Group's gross margin averaged 54.11% in the last 3 years. Compared with its three-year average, Alaska Air Group's current gross margin is 49.5% and is 4.6 percentage points below its three-year average. Over the last 3 years, Alaska Air Group's gross margin peaked at 55.7% in Mar 2025 and reached a low of 49.5% in Sep 2026.

ALK Operating margin

Over the last 3 years, Alaska Air Group's operating margin averaged 2.64%. Right now, Alaska Air Group's current operating margin is -1.9%, which is 4.5 percentage points below its three-year average. During this period, operating margin reached a high of 4.9% in Dec 2024 and a low of -1.9% in Sep 2026.

ALK EBITDA margin

Over the last 3 years, Alaska Air Group's EBITDA margin averaged 8.64%. The current EBITDA margin of 4.4% is 4.2 percentage points below its three-year average. During this period, EBITDA margin reached a high of 11.1% in Dec 2024 and a low of 4.4% in Sep 2026.

ALK Net margin

Over the last 3 years, Alaska Air Group had an average net margin of 1.4%. The latest net margin for Alaska Air Group is -2.6%, 4 percentage points below its three-year average. Looking back over the last 3 years, Alaska Air Group's net margin reached 3.4% at its highest point in Dec 2024 and -2.6% at its lowest in Sep 2026.

ALK margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 49.5%, ALK ranks higher than the Industrials sector and the industry average but lower than its peers average. In comparison with the Industrials sector average of 32.5%, Alaska Air Group's gross margin is 52% higher.

ALK margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Alaska Air Group's gross margin?

As of Sep 30, 2026, ALK has a gross margin of 49.5%.

What is Alaska Air Group's operating margin?

As of Sep 30, 2026, ALK has a negative operating margin of -1.9%.

What is Alaska Air Group's EBITDA margin?

For the period ending Sep 30, 2026, ALK recorded an EBITDA margin of 4.4%.

What is Alaska Air Group's net margin?

The current net margin for ALK is -2.6% as of Sep 30, 2026.

What are the average margins of ALK?

Alaska Air Group's gross, operating, EBITDA, and net margins averaged 54.1% gross, 2.6% operating, 8.6% EBITDA, and 1.4% net over the last 3 years.

What are the highest historical margins of ALK?

Alaska Air Group's highest recorded margins during the past 5 years were 55.7% gross in Mar 2025, 11.1% operating in Dec 2021, 18.6% EBITDA in Dec 2021, and 7.7% net in Dec 2021.

What are the lowest historical margins of ALK?

Over the last 5 years, Alaska Air Group's lowest margins were 49.5% gross in Sep 2026, -1.9% operating in Sep 2026, 4.4% EBITDA in Sep 2026, and -2.6% net in Sep 2026.