Company Valuation: Alaska Air Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,529 5,446 5,003 8,220 5,834 4,692 - -
Change - -16.58% -8.14% 64.29% -29.02% -19.58% - -
Enterprise Value (EV) 1 7,499 6,904 7,030 10,649 9,266 9,864 9,367 8,490
Change - -7.92% 1.82% 51.47% -12.98% 6.45% -5.04% -9.36%
P/E 13.8x 95.4x 21.3x 21x 60.6x -26x 9.44x 5.61x
PBR 1.73x 1.44x 1.2x 1.82x 1.41x 1.16x 0.99x 0.79x
PEG - -1.1x 0x 0.3x -0.8x 0x -0x 0.1x
Capitalization / Revenue 1.06x 0.56x 0.48x 0.7x 0.41x 0.3x 0.28x 0.26x
EV / Revenue 1.21x 0.72x 0.67x 0.91x 0.65x 0.62x 0.55x 0.47x
EV / EBITDA 20.8x 4.82x 4.65x 6.45x 5.81x 10x 4.44x 3.55x
EV / EBIT -26.1x 9.51x 8.24x 12.4x 16.8x -84.9x 9.15x 6x
EV / FCF 10.2x -27.3x -15.8x 58.2x -27.3x -27.1x 13.1x 9.59x
FCF Yield 9.84% -3.66% -6.32% 1.72% -3.66% -3.69% 7.62% 10.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 3.77 0.45 1.83 3.08 0.83 -1.615 4.453 7.5
Distribution rate - - - - - - - -
Net sales 1 6,176 9,646 10,426 11,735 14,239 15,810 16,974 17,895
EBITDA 1 361 1,432 1,512 1,651 1,595 986.4 2,108 2,389
EBIT 1 -287 726 853 861 550 -116.2 1,024 1,416
Net income 1 478 58 235 395 100 -172 520.6 824.4
Net Debt 1 970 1,458 2,027 2,429 3,432 5,172 4,675 3,798
Reference price 2 52.10 42.94 39.07 64.75 50.30 42.04 42.04 42.04
Nbr of stocks (in thousands) 125,311 126,838 128,053 126,945 115,989 111,603 - -
Announcement Date 1/27/22 1/26/23 1/25/24 1/22/25 1/22/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-25.63x0.62x9.93x-.--% 4.62B
12.35x0.89x6.89x0.99% 51.51B
9.82x0.78x6.41x-.--% 35.27B
13.14x1.31x5.94x1.91% 27.5B
8.18x0.8x3.76x2.21% 25.44B
65.67x2.26x13.15x0.07% 20.37B
27.93x1.09x5.81x3.68% 16.79B
-11.19x1.66x11.42x-.--% 15.7B
-12.24x1.62x10.22x0.25% 11.8B
8.18x0.96x4.73x5.84% 11.12B
Average 9.62x 1.20x 7.83x 1.49% 22.01B
Weighted average by Cap. 13.68x 1.15x 7.29x 1.32%

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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