ALK vs UAL
Alaska AIR Group, Inc. and United Airlines Holdings, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | ALK | UAL |
|---|---|---|
| Revenue | $14.2B | $59.1B |
| Net income | $100.0M | $3.4B |
| Gross margin | · | · |
| Net margin | 0.7% | 5.7% |
| Return on equity | 2.4% | 24.0% |
| Diluted EPS | $0.83 | $10.20 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | · | $2.6B |
| Equity | $4.1B | $15.3B |
| Net debt / equity | 1.14× | 1.00× |
| Current ratio | 0.50× | 0.65× |
| Revenue CAGR 5y | 31.9% | 30.9% |
| Profit CAGR 5y | · | · |
UAL bills 4.1× the revenue of ALK, and keeps more of each dollar of revenue as profit (5.7% against 0.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | ALK | UAL |
|---|---|---|
| FY2025 | $14.2B | $59.1B |
| FY2024 | $11.7B | $57.1B |
| FY2023 | $10.4B | $53.7B |
| FY2022 | $9.6B | $45.0B |
| FY2021 | $6.2B | $24.6B |
| FY2020 | $3.6B | $15.4B |
| FY2019 | $8.8B | $43.3B |
| FY2018 | $8.3B | $41.3B |
| FY2017 | $7.9B | $37.8B |
| FY2016 | $5.9B | $36.6B |
Bottom line
| Fiscal year | ALK | UAL |
|---|---|---|
| FY2025 | $100.0M | $3.4B |
| FY2024 | $395.0M | $3.1B |
| FY2023 | $235.0M | $2.6B |
| FY2022 | $58.0M | $737.0M |
| FY2021 | $478.0M | $-2.0B |
| FY2020 | $-1.3B | $-7.1B |
| FY2019 | $769.0M | $3.0B |
| FY2018 | $437.0M | $2.1B |
| FY2017 | $960.0M | $2.1B |
| FY2016 | $797.0M | $2.2B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$44,831,000,000 | UAL |
| FY2024 | −$45,328,000,000 | UAL |
| FY2023 | −$43,291,000,000 | UAL |
| FY2022 | −$35,309,000,000 | UAL |
| FY2021 | −$18,458,000,000 | UAL |
| FY2020 | −$11,789,000,000 | UAL |
| FY2019 | −$34,478,000,000 | UAL |
| FY2018 | −$33,039,000,000 | UAL |
| FY2017 | −$29,890,000,000 | UAL |
| FY2016 | −$30,633,000,000 | UAL |
| FY2015 | −$37,864,000,000 | UAL |
| FY2014 | −$38,901,000,000 | UAL |
| FY2013 | −$38,279,000,000 | UAL |
| FY2012 | −$37,152,000,000 | UAL |
| FY2011 | −$37,110,000,000 | UAL |
| FY2010 | −$19,493,000,000 | UAL |
| FY2009 | −$12,935,200,000 | UAL |
| FY2008 | −$16,531,400,000 | UAL |
UAL has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −5.0 pp | UAL |
| FY2024 | −2.2 pp | UAL |
| FY2023 | −2.6 pp | UAL |
| FY2022 | −1.0 pp | UAL |
| FY2021 | +15.7 pp | ALK |
| FY2020 | +8.9 pp | ALK |
| FY2019 | +1.8 pp | ALK |
| FY2018 | +0.2 pp | ALK |
| FY2017 | +6.5 pp | ALK |
| FY2016 | +7.3 pp | ALK |
| FY2010 | +5.5 pp | ALK |
| FY2009 | +7.6 pp | ALK |
| FY2008 | +23.0 pp | ALK |
The higher net margin has changed hands between ALK and UAL over this period.
13 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UAL's net margin has been more volatile than ALK's over the 13 comparable fiscal years — 15.2 percentage points of standard deviation against 12.1.
13 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ALK and UAL over these 13 fiscal years — ALK led in 9 and UAL in 4.
13 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UAL's return on equity has been more volatile than ALK's over the 15 comparable fiscal years — 47.5 percentage points of standard deviation against 17.6.
15 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between ALK and UAL over these 15 fiscal years — ALK led in 5 and UAL in 10.
15 of 18 comparable fiscal years — a year missing data on either side is not counted.