Company Valuation: Alaska Air Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,529 5,446 5,003 8,220 5,834 4,116 - -
Change - -16.58% -8.14% 64.29% -29.02% -29.45% - -
Enterprise Value (EV) 1 7,499 6,904 7,030 10,649 9,266 8,852 8,536 7,872
Change - -7.92% 1.82% 51.47% -12.98% -4.47% -3.57% -7.79%
P/E ratio 13.8x 95.4x 21.3x 21x 60.6x -28.4x 6.17x 4.66x
PBR 1.73x 1.44x 1.2x 1.82x 1.41x 1.03x 0.87x 0.7x
PEG - -1.1x 0x 0.3x -0.8x 0x -0x 0.1x
Capitalization / Revenue 1.06x 0.56x 0.48x 0.7x 0.41x 0.26x 0.25x 0.23x
EV / Revenue 1.21x 0.72x 0.67x 0.91x 0.65x 0.56x 0.51x 0.44x
EV / EBITDA 20.8x 4.82x 4.65x 6.45x 5.81x 8.16x 3.73x 3.21x
EV / EBIT -26.1x 9.51x 8.24x 12.4x 16.8x -6,614x 7.61x 5.64x
EV / FCF 10.2x -27.3x -15.8x 58.2x -27.3x -24x 16x 8.57x
FCF Yield 9.84% -3.66% -6.32% 1.72% -3.66% -4.17% 6.26% 11.7%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 3.77 0.45 1.83 3.08 0.83 -1.313 6.053 8.025
Distribution rate - - - - - - - -
Net sales 1 6,176 9,646 10,426 11,735 14,239 15,767 16,720 17,753
EBITDA 1 361 1,432 1,512 1,651 1,595 1,084 2,289 2,450
EBIT 1 -287 726 853 861 550 -1.338 1,122 1,396
Net income 1 478 58 235 395 100 -84 669.6 878.8
Net Debt 1 970 1,458 2,027 2,429 3,432 4,736 4,420 3,755
Reference price 2 52.10 42.94 39.07 64.75 50.30 37.36 37.36 37.36
Nbr of stocks (in thousands) 125,311 126,838 128,053 126,945 115,989 111,429 - -
Announcement Date 27/01/22 26/01/23 25/01/24 22/01/25 22/01/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-28.13x0.56x8.16x-.--% 4.12B
14.95x0.87x7.41x1.1% 45.89B
9.47x0.7x6.18x-.--% 30.14B
10.71x1.35x5.58x2.11% 26.87B
7.54x0.71x3.44x2.4% 22.27B
-305.83x2.29x12.1x0.23% 17.39B
25.02x1.06x5.23x4.1% 15.8B
-22.66x1.51x10.2x-.--% 15.35B
8.77x1.09x4.49x3.41% 13.64B
-67.62x1.52x9.73x-.--% 12.97B
Average -34.78x 1.17x 7.25x 1.34% 20.44B
Weighted average by Cap. -23.07x 1.12x 6.96x 1.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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