Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: ALK stock price vs NE: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at NE's multiple
Needs NE P/E.
Implied fair value · at ALK's multiple
Needs ALK P/E.
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ALK FY 2025 (ended Dec 31, 2025) · NE FY 2025 (ended Dec 31, 2025).
Trendline
Six 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 79% equity / 21% debt · EV / Revenue 2.67x · EV / EBITDA 20.18x
ALK carries the larger enterprise value at $9.91B against $8.79B; ALK trades on the lower EV / Revenue multiple (0.70x vs 2.67x); ALK on the lower EV / EBITDA (19.59x vs 20.18x).
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.
Noble Corporation plc · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
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.
Debt / equity
Total debt against shareholders' equity
1.42x
0.43x
Net debt / EBITDA
Leverage against operating earnings
10.32x
3.46x
Cash and equivalents
Liquid reserves on the balance sheet
$627.00M
$471.40M
Total debt
Interest-bearing obligations outstanding
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.
DELTA AIR LINES, INC.
ALK vs DAL
American Airlines Group Inc.
ALK vs AAL
SOUTHWEST AIRLINES CO
ALK vs LUV
JETBLUE AIRWAYS CORP
ALK vs JBLU
Allegiant Travel CO
ALK vs ALGT
Transocean Ltd.
ALK vs RIG
Valaris Ltd
ALK vs VAL
Seadrill Ltd
ALK vs SDRL
VALERO ENERGY CORP/TX
ALK vs VLO
ONEOK INC /NEW/
ALK vs OKE
HALLIBURTON CO
ALK vs HAL
$5.85B
$1.98B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.
