Stocks Comparison
Alaska Air vs Southwest Airlines: revenue, profit, margins and growth compared
Alaska Air brought in $14.2B of revenue in fiscal 2025, Southwest Airlines $28.1B in fiscal 2025. Revenue changed by +21.3% at Alaska Air and +2.1% at Southwest Airlines on the year before, so Alaska Air grew faster. Alaska Air kept 0.7% of its revenue as net profit, Southwest Airlines 1.6%.
Side by side, latest fiscal year
| ALK | LUV | |
|---|---|---|
| Fiscal year ended | FY2025 (December 31, 2025) | FY2025 (December 31, 2025) |
| Revenue | $14.2B | $28.1B |
| Revenue growth | +21.3% | +2.1% |
| Net income | $100M | $441M |
| Net margin | 0.7% | 1.6% |
| Free cash flow | n/a | -$831M |
| Free cash flow margin | n/a | -3.0% |
| Earnings per share (diluted) | $0.83 | $0.79 |
| Cash | $627M | $3.2B |
| Debt | $5.3B | $4.9B |
| Price to earnings | 49.3 | 54.0 |
| Market value | $4.6B | $20.9B |
| Dividend yield | n/a | 1.69% |
| Rank by revenue in sector | #95 of 778 · Consumer discretionary | #36 of 778 · Consumer discretionary |
Over the years
Questions about Alaska Air and Southwest Airlines
Which is bigger by revenue, Alaska Air or Southwest Airlines?
Southwest Airlines is bigger by revenue: $28.1B in fiscal 2025, against $14.2B for Alaska Air in fiscal 2025.
Which keeps more of its revenue as profit, Alaska Air or Southwest Airlines?
Alaska Air had a net margin of 0.7% in fiscal 2025; Southwest Airlines had 1.6% in fiscal 2025.
Which grew revenue faster, Alaska Air or Southwest Airlines?
In their latest fiscal years revenue changed by +21.3% at Alaska Air and +2.1% at Southwest Airlines.
Where do these numbers come from?
From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.