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Allegiant Travel cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$264M in Q3 2026 · −$25.7M over twelve months

Operating cash flow−$211M
Capital spending−$53.2M
Free cash flow−$264M

Analysis

In Q3 2026, Allegiant Travel generated −$211M of operating cash flow and spent $53.2M on capital projects, leaving free cash flow of −$264M. That is $129M less than in Q3 2025 (−$135M).

Over the twelve months to Sep 30, 2026, operating cash flow was $215M; the largest uses were other financing ($832M), other investing ($288M), capital spending ($241M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.1B), asset & business sales ($55.7M); the cash balance rose by $46.0M.

Operating cash flow was −$211M against net income of −$15.2M. The largest differences: depreciation & amortization +$81.2M.

Free cash flow

Allegiant Travel: free cash flow by quarterAllegiant Travel: free cash flow by quarter$24.0MQ4 2024$108MQ1 2025−$46.5MQ2 2025−$135MQ3 2025$55.5MQ4 2025$92.1MQ1 2026−$74.6MQ2 2026−$264MQ3 2026
Operating cash flow less capital spending.
Allegiant Travel: operating cash flow against capital spendingAllegiant Travel: operating cash flow against capital spendingOperating cash flowCapital spending$84.4M$60.3MQ4 2024$191M$83.5MQ1 2025$92.2M$139MQ2 2025−$6.1M$129MQ3 2025$112M$56.7MQ4 2025$268M$176MQ1 2026$46.1M$121MQ2 2026−$211M$53.2MQ3 2026
Latest (Q3 2026): Operating cash flow −$211M, Capital spending $53.2M.

Capital allocation, year by year

Allegiant Travel: where the cash came from (up) and went (down), by fiscal yearAllegiant Travel: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $538MFY2021: Net borrowing −$34.1MFY2021: Shares issued $335MFY2021: Capital spending −$361M$873MFY2021FY2022: Operating cash flow $303MFY2022: Net borrowing $145MFY2022: Asset sales $1.3MFY2022: Capital spending −$764MFY2022: Buybacks −$29.9M$450MFY2022FY2023: Operating cash flow $423MFY2023: Net borrowing $123MFY2023: Asset sales $26.5MFY2023: Capital spending −$889MFY2023: Buybacks −$30.1MFY2023: Dividends −$22.1M$572MFY2023FY2024: Operating cash flow $338MFY2024: Net borrowing −$224MFY2024: Asset sales $86.2MFY2024: Capital spending −$300MFY2024: Buybacks −$6.0MFY2024: Dividends −$21.9M$425MFY2024FY2025: Operating cash flow $390MFY2025: Net borrowing −$499MFY2025: Asset sales $267MFY2025: Capital spending −$408MFY2025: Buybacks −$13.6M$657MFY2025
Over these 5 years operating cash flow totalled $2.0B; the largest uses were capital spending ($2.7B) and net borrowing ($757M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$854M
Debt$2.9B
Net debt$2.1B
Due within a year$118M

Allegiant Travel's operations bring cash in ($215M over twelve months), and it spends more than that on capital projects: a gap of $25.7M funded from its $854M of cash and investments and from borrowing ($2.9B of debt, $118M due within a year). That is a choice to invest, not a cash runway running down.

Allegiant Travel: debt maturities by year (FY2025)Allegiant Travel: debt maturities by year (FY2025)$118MYear 1$527MYear 2$170MYear 3$203MYear 4$177MYear 5$603MAfter year 5
Principal due in each year as disclosed in the annual report, against $854M of cash and investments now.

Where the cash came from and went

Allegiant Travel: sources (+) and uses (−) of cash, Q3 2026Allegiant Travel: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$211MNet borrowing (+) / repaid (−)$161MCash drawn (+) / kept (−)$154MCapital spending−$53.2MOther investing−$38.6MBuybacks−$6.6MOther financing−$5.5M
Allegiant Travel: sources (+) and uses (−) of cash, TTM to Q3 2026Allegiant Travel: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$1.1BOther financing−$832MOther investing−$288MCapital spending−$241MOperating cash flow$215MAsset & business sales$55.7MCash drawn (+) / kept (−)−$46.0MBuybacks−$8.1M

From profit to cash

Allegiant Travel: net income to operating cash flow, Q3 2026Allegiant Travel: net income to operating cash flow, Q3 2026Net income−$15.2MDepreciation & amortization$81.2MOperating cash flow−$211M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$211M−$53.2M−$6.6M$161M$154M−$264M
Q2 2026$46.1M−$121M−$783K$430M−$240M−$74.6M
Q1 2026$268M−$176M−$55K−$8.9M−$114M$92.1M
Q4 2025$112M−$56.7M−$632K—$154M$55.5M
Q3 2025−$6.1M−$129M−$1.5M$101M−$117M−$135M
Q2 2025$92.2M−$139M−$350K−$52.7M$74.9M−$46.5M
Q1 2025$191M−$83.5M−$11.1M−$56.2M−$469K$108M
Q4 2024$84.4M−$60.3M−$886K$293M−$11.4M$24.0M

Allegiant Travel: income statement and cash flow

Allegiant Travel, Q3 2026: revenue $962M (+71% year over year), operating margin 1.1%. The chart follows the revenue to costs, profit and cash.

Allegiant Travel: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.