Alaska Air Group, Inc.
$9.91B- Market cap
- $4.69B
- Debt
- +$5.85B
- Cash
- −$627.00M
Capital structure 45% equity / 55% debt · EV / Revenue 0.70x · EV / EBITDA 19.59x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt cap
Decision snapshot: ALK stock price at premium vs KEY $42.05 current versus $12.12 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at KEY's multiple
Implied fair value · at ALK's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ALK FY 2025 (ended Dec 31, 2025) · KEY FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 45% equity / 55% debt · EV / Revenue 0.70x · EV / EBITDA 19.59x
Capital structure 70% equity / 30% debt · EV / Revenue 3.12x · EV / EBITDA 3.84x
KEY carries the larger enterprise value at $23.43B against $9.91B; ALK trades on the lower EV / Revenue multiple (0.70x vs 3.12x); KEY on the lower EV / EBITDA (3.84x vs 19.59x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
ALASKA AIR GROUP, INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
KeyCorp · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
1.42x
0.49x
Net debt / EBITDA
Leverage against operating earnings
10.32x
-0.04x
Cash and equivalents
Liquid reserves on the balance sheet
$627.00M
$10.16B
Total debt
Interest-bearing obligations outstanding
$5.85B
$9.92B
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
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