How Alaska Air Group (ALK) Makes Money: A Visual Guide
Alaska Air Group (ALK) generated $14.40B in revenue, earning $73.00M in net profit (0.5% margin). Its largest revenue source is Alaska Airlines Segment (63.4% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.
In TTM through Q1 2026, Alaska Air Group (ALK) generated revenue across 3 reportable product segments; the largest contributor was Alaska Airlines Segment at 63.4%, followed by Hawaiian Airlines Segment (22.7%) and Regional Segment (13.9%). Geographically, Alaska Mainline accounted for 63.9% of revenue, followed by Hawaiian Airlines Segment (23.1%) and Alaska Regional (13%).
Alaska Air Group (ALK) Income Statement Flow — TTM through Q1 2026
Calculated from the four most recent reported quarters, ending (reported ).
Alaska Air Group (ALK) Revenue by Product Segment — TTM through Q1 2026
Revenue contribution by product segment for Alaska Air Group (ALK) in TTM through Q1 2026.
Alaska Airlines Segment
- Revenue
- $9.12B
- % of total
- 63.4%
Hawaiian Airlines Segment
- Revenue
- $3.27B
- % of total
- 22.7%
Regional Segment
- Revenue
- $2.00B
- % of total
- 13.9%
Total
- Revenue
- $14.40B
- % of total
- 100%
| Segment | Revenue | % of total |
|---|---|---|
| Alaska Airlines Segment | $9.12B | 63.4% |
| Hawaiian Airlines Segment | $3.27B | 22.7% |
| Regional Segment | $2.00B | 13.9% |
| Total | $14.40B | 100% |
Alaska Air Group (ALK) Revenue by Geography — FY 2025 (period end December 31, 2025)
Quarterly geographic data is unavailable for this period, so the table reflects the company's last annual disclosure (FY 2025 (period end December 31, 2025)). The income statement above uses TTM through Q1 2026, so regional dollars and percentages will not match line-for-line.
Revenue contribution by geographic region for Alaska Air Group (ALK), FY 2025 (period end December 31, 2025).
Alaska Mainline
- Revenue
- $9.09B
- % of total
- 63.9%
Hawaiian Airlines Segment
- Revenue
- $3.28B
- % of total
- 23.1%
Alaska Regional
- Revenue
- $1.85B
- % of total
- 13%
Total
- Revenue
- $14.23B
- % of total
- 100%
| Region | Revenue | % of total |
|---|---|---|
| Alaska Mainline | $9.09B | 63.9% |
| Hawaiian Airlines Segment | $3.28B | 23.1% |
| Alaska Regional | $1.85B | 13% |
| Total | $14.23B | 100% |
Frequently asked questions
How does Alaska Air Group (ALK) make money?
Alaska Air Group (ALK) primarily makes money through Alaska Airlines Segment, which accounts for 63.4% of total revenue. For TTM through Q1 2026, Alaska Air Group generated $14.40B in total revenue with a net profit margin of 0.5%.
What is Alaska Air Group (ALK) gross profit margin?
Alaska Air Group (ALK) reported a gross profit margin of 78.4% for TTM through Q1 2026, equivalent to $11.29B in gross profit. This means Alaska Air Group retains 78.4% of each revenue unit after direct costs of production.
What is Alaska Air Group (ALK) operating profit margin?
Alaska Air Group (ALK) reported an operating profit margin of 1.5% for TTM through Q1 2026, equivalent to $221.00M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Alaska Air Group (ALK) net profit margin?
Alaska Air Group (ALK) reported a net profit margin of 0.5% for TTM through Q1 2026, equivalent to $73.00M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Alaska Air Group (ALK) spend on capital expenditures?
Alaska Air Group (ALK) spent $1.69B on capital expenditures in TTM through Q1 2026 (11.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Alaska Air Group (ALK) free cash flow?
Alaska Air Group (ALK) generated −$477.00M in free cash flow for TTM through Q1 2026 (-3.3% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What are Alaska Air Group (ALK) main revenue segments?
Alaska Air Group (ALK) reports revenue across 3 reportable product segments, led by Alaska Airlines Segment at 63.4% of total revenue in TTM through Q1 2026. The full segment-by-segment breakdown is shown in the revenue-by-segment table on this page.
Where does Alaska Air Group (ALK) generate most of its revenue?
Geographically, 63.9% of Alaska Air Group (ALK) revenue came from Alaska Mainline in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.
Data & methodology
What is a Sankey diagram?
A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?
We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
Where do segment and geographic numbers come from?
Product-segment shares come from the same TTM income statement that powers the Sankey chart. Geographic splits are first rebuilt from the four most recent quarterly geographic-segmentation filings so they align with the same TTM window; if quarterly geo data is missing, we fall back to the latest annual disclosure (the table heading shows which one is in use).
When was this data last updated?
Based on company filings through TTM through Q1 2026.
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