Comparison

ALASKA AIR GROUP, INC. (ALK) vs United Airlines Holdings, Inc. (UAL)

The same filed metrics for both companies, side by side.

What each names as a risk in its own annual report, how each is priced against its own history, and the tracked managers whose latest 13F reports a position in both.

Financials

ALK

ALASKA AIR GROUP, INC.

Airlines

Revenue, FY25: $14.24B
Net income: $100M
Operating cash flow: $1.25B
Free cash flow: -
Net margin: 0.70%
Operating margin: 2.13%
Gross margin: -

UAL

United Airlines Holdings, Inc.

Airlines

Revenue, FY25: $59.07B
Net income: $3.35B
Operating cash flow: $8.43B
Free cash flow: $2.56B
Net margin: 5.68%
Operating margin: 7.98%
Gross margin: -

Head-to-head

Filed growth, quality and valuation, read against each company’s own history rather than against the other side.

Metric	ALK	UAL
Revenue growth, latest filed year	+21.34%	+3.52%
Piotroski F-score	5 of 8	7 of 8
P/E against its own history	-	about normal

What each says it is exposed to

From Item 1A of each company’s most recent 10-K.

ALK

Goodwill impairment
Labour
Cybersecurity
Debt covenants
Litigation
Climate

And 9 more.

UAL

Cybersecurity
Labour
Climate
Litigation
Debt covenants
Goodwill impairment

And 17 more.

Tracked managers holding both

Joel Greenblatt Gotham Asset Management 0.07% · 0.03%

Updated Aug 4, 2026 · the newer of the two companies' filings