Filing Flows › Alaska Air Group (ALK) › Q4 2025
Alaska Air Group (ALK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Alaska Air Group (ALK) reported revenue of $3.6B for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -4% from the quarter before. Operating margin was 2.1%, net earnings $21.0M (0.6% of revenue).
Alaska Air Group, Q4 2025: revenue $3.6B (+3% year over year), operating margin 2.1%, net earnings $21.0M, operating cash flow $185M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | -4% | +3% |
| Operating profit | $75.0M | -49% | +3% |
| Net earnings | $21.0M | -71% | -70% |
| Operating cash flow | $185M | -19% | -32% |
| Free cash flow | $95.0M | -31% | -48% |
What changed
Revenue was $3.6B in Q4 2025, up 3% year over year and down 4% from the previous quarter.
Operating profit was $0.07B, a 2.1% margin (unchanged year over year). Of the extra revenue versus a year earlier, 2% reached operating profit, below the 2% margin then. Total costs grew 3% against revenue growth of 3%. Net earnings were $0.02B, down 70% year over year. The effective tax rate was 30.0%.
Operating cash flow was $0.18B (down 32% year over year), 881% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.11B. Capital expenditures of $0.09B left free cash flow of $0.10B.
Questions
What was Alaska Air Group's revenue in the fourth quarter 2025?
Alaska Air Group (ALK) reported revenue of $3.6B for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -4% from the quarter before.
Was Alaska Air Group profitable in the fourth quarter 2025?
Operating profit was $75.0M (2.1% of revenue) and net earnings $21.0M.
Source: Alaska Air Group 10-K on SEC EDGAR.