Allegiant Travel CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Allegiant Travel CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2023	FY2024	FY2025
Revenue	1,379	1,511	1,667	1,841	990	1,708	2,302	2,510	2,513	2,607
Selling and marketing	34.6	56.7	73.5	78.9	43.5	72.7	101	115	106	99.4
Operating expenses	1,006	1,281	1,424	1,477	1,271	1,445	2,210	2,289	2,753	2,569
Operating income	373	231	243	364	-281	263	91.6	221	-240	37.2
Interest expense	28.8	42.2	56.1	76.8	61.7	68.5	116	153	156	150
Interest income	3.01	5.81	9.23	12.5	5.51	1.81	16.5	46.6	44	41.7
Other non-operating income	-24.6	-31.6	-44.1	62.7	-80.1	-66.5	-86.7	-61.9	-68.5	-92
Pre-tax income	348	199	199	301	-361	197	4.95	159	-308	-54.9
Income tax	127	0.86	37.5	69.1	-177	44.8	2.46	41.5	-68.2	-10.2
Net income to minority interests	0	0
Net income	221	198	162	232	-184	152	2.49	118	-240	-44.7
EBITDA	478	352	373	520	-105	444	289	444	18.3	286
EPS, basic	13.31	12.14	10.02	14.27	-11.53	8.69	0.14	6.32	-13.49	-2.48
EPS, diluted	13.29	12.13	10.00	14.26	-11.53	8.68	0.14	6.29	-13.49	-2.48
Shares, basic (weighted)	16.5	16.1	15.9	16	16	17.2	18	17.9	17.9	18.1
Shares, diluted (weighted)	16.5	16.1	16	16	16	17.2	18	18	17.9	18.1
Dividend per share	2.40	2.80	2.80	2.80	0.70	0.00	0.00	1.20	1.20	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2023	FY2024	FY2025
Cash and equivalents	64.7	59.4	81.5	122	153	363	230	143	286	173
Short-term investments			314	336	532	819	725	671	495	633
Receivables	40.7	71.1	36	25.5	192	62.7	107	70.7	90.4	57.1
Other current assets	2.69	5.32	0.22	1.01	24.6	28.1	162	63.1	67.6	52.4
Total current assets	422	541	495	562	944	1,338	1,274	1,001	992	968
Property, plant and equipment	1,095	1,512	1,847	2,237	2,050	2,260	2,811	3,430	3,070	2,948
Lease right-of-use assets			0	22.1	116	130	112	101	81.2	63.4
Long-term investments	125	78.6	51.5	15.5	0	2.23	63.3	56	51.7	32.8
Other non-current assets	12	16.6	36.8	44.5	21.6	114	93.9	98.7	61.5	49.5
Total assets	1,672	2,180	2,499	3,011	3,259	3,991	4,511	4,857	4,430	4,209
Accounts payable	16	20.1	27.5	27.7	34.2	43.6	58.3	54.5	62.1	64.5
Accrued liabilities	96.7	105	122	159	116	163	226	292	181	186
Deferred revenue				250	308	307	379	353	371	363
Short-term debt	86.2	215	152	173	217	130	153	440	455	118
Total current liabilities	393	544	514	613	689	663	870	1,200	1,277	1,018
Long-term debt	722	950	1,119	1,249	1,442	1,612	1,944	1,820	1,612	1,682
Lease liabilities				21.3	102	115	95	82.4	62.4	54.2
Other non-current liabilities	7.67	13.4	10.9	12.3	24.4	30.8	11.7	9.45	34.1	59.2
Total liabilities	1,198	1,627	1,808	2,127	2,560	2,768	3,291	3,528	3,340	3,157
Total debt	808	1,165	1,272	1,422	1,659	1,766	2,120	2,282	2,084	16.6
Paid-in capital	238	254	271	290	330	692	709	741	761	772
Retained earnings	753	908	1,025	1,211	1,016	1,167	1,170	1,265	1,003	959
Treasury stock	-518	-606	-605	-618	-646	-638	-660	-682	-678	-683
Other comprehensive income	-0.23	-2.84	-0.66	0.1	-0.03	2.06	1.26	3.99	3.95	4.64
Shareholders' equity	474	553	690	884	699	1,224	1,221	1,329	1,089	1,053
Total equity	474	548	690	884	699	1,224	1,221	1,329	1,089	1,053
Total liabilities and equity	1,672	2,180	2,499	3,011	3,259	3,991	4,511	4,857	4,430	4,209
Shares outstanding	16.6	16.1	16.2	16.3	16.4	18.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2023	FY2024	FY2025
Net income	221	198	162	232	-184	152	2.49	118	-240	-44.7
Depreciation and amortization	105	122	129	156	176	181	198	223	258	249
Stock-based compensation	9.39	13.9	15.1	18.2	19.3	16.1	15.2	29.7	22.6	10.9
Deferred income tax	30.6	42.7	38.2	68.5	69.3	43.8	2.18	38.2	-69	-10.2
Change in receivables	-18.2	-30.6	35.6	10.5	4.39	-14.7	-33.9	29.4	4.36	12.2
Change in payables	9.21	4.8	8.63	-2.1	7.02	10.4	14.8	-5.03	8.74
Cash from operations	348	391	357	442	235	538	303	423	338	390
Capital expenditures	-200	-580	-335	-507	-281	-244	-435	-528	-300	-315
Purchases of investments					-687	-1,249	-1,267	-891	-567	-949
Cash from investing	-402	-619	-269	-476	-366	-593	-491	-722	5.58	-220
Debt issued	321	498	211	875	428	282	864	643	387	639
Debt repaid	-154	-139	-232	-706	-218	-301	-702	-481	-586	-906
Stock issued	0.6	1	1.6	0	0	335	0	0
Share buybacks	-66.4	-90.5	-3.65	-18.6	-33.8	0	-29.9	-30.1	-6.03	-13.6
Dividends paid	-67.5	-45.7	-45.2	-45.6	-11.4	0	0	-22.1	-21.9	0
Cash from financing	32.6	222	-62.4	75.1	165	285	33.1	213	-201	-281
Net change in cash	-22.4	-5.26	25.3	40.9	33.5	230	-155	-85.9	143	-112
Free cash flow	148	-190	21.8	-64.6	-46.5	295	-132	-105	38.3	75.1
Interest paid	26.5	36	52.3	65.2	48	43.5	82.9	112	107	122
Income taxes paid	111	-18	-41.6	2.16	95.2	129	-0.31	1.01	8.74	-15.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $79.09 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	4.9%	Operating income / revenue.
EBITDA margin	13.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.8%	Pre-tax income / revenue.
Net margin	0.9%	Net income / revenue.
FCF margin	3.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	14.5%	Cash from operations / revenue.
Effective tax rate	50.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.4%	Net income / average total assets.
Return on invested capital (ROIC)	2.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	11.0%	Capital expenditures / revenue.
D&A / revenue	8.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-26.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	1,467.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-0.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	15.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	96.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	-100.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-3.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-4.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.83x	Current assets / current liabilities.
Quick ratio	0.71x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.65x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.56x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.1%	Total debt / total assets.
Liabilities / assets	72.4%	Total liabilities / total assets.
Net debt	$1.73B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.45x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$274.2M	Current assets - current liabilities.
Tangible book value	$1.78B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.45x	Revenue / average total assets.
Fixed asset turnover	0.68x	Revenue / average property, plant and equipment.
Receivables turnover	27.0x	Revenue / average receivables.
Days sales outstanding	14 days	365 x average receivables / revenue.
FCF conversion	396.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	75.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.14	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$126.64	Revenue / diluted weighted shares.
FCF per share	$4.51	Free cash flow / diluted weighted shares.
Operating cash flow per share	$18.39	Cash from operations / diluted weighted shares.
Book value per share	$77.78	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$77.78	Tangible book value / shares outstanding.
Cash per share	$46.10	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	2.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.16B	Share price x shares outstanding.
Enterprise value	$3.89B	Market cap + total debt - cash - short-term investments.
P/E	83.2x	Market cap / net income. Only when net income is positive.
P/S	0.75x	Market cap / revenue.
P/B	1.22x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.22x	Market cap / tangible book value, when positive.
P/FCF	21.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.14x	Market cap / cash from operations, when positive.
EV/Sales	1.34x	Enterprise value / revenue.
EV/EBIT	27.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	37.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.8%	Free cash flow / market cap.
Earnings yield	1.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.1%	(Dividends paid + share buybacks) / market cap.

What was Allegiant Travel CO's revenue in fiscal 2025?

Allegiant Travel CO reported revenue of $2.61B for fiscal 2025, 3.7% higher than the year before.

Was Allegiant Travel CO profitable in fiscal 2025?

No. It reported a net loss of $44.7M.

How much free cash flow did Allegiant Travel CO generate in fiscal 2025?

Cash from operations of $389.8M minus capital expenditures of $314.7M left free cash flow of $75.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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