Allegiant Travel ALGT
Nasdaq · Air Transportation, Scheduled · $2.2BNo closes on file for ALGT yet.
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$2.2B
EV / True FCF59.7x
Revenue$2.6B +3.7%
True FCF (ex-SBC)$64.2M +96.1%
Rule of 406.6%
ROIC1.1%
True FCF Yield2.9%
EPS, diluted$-2.48 +81.6%
Modern Valuation (EOD)
Market Cap$2.2B
Enterprise Value$3.8B
EV / True FCF59.74
EV / FCF51.10
EV / Gross Profit—
EV / EBIT103.26
EV / Sales1.47
P / E (GAAP)—
P / FCF29.68
P / Oper. CF5.72
P / Book2.12
Owner & Cash Yields
True FCF Yield2.9%
FCF Yield3.4%
Owner Earn. Yield-5.4%
Earnings Yield-2.0%
Shareholder Yield+0.1%
Buyback Yield0.6%
Dividend Yield—
Dividend / sh$0.00
Payout Ratio0%
FCF / sh$2.75
EPS (diluted)$-2.48
Compounder & Returns
Rule of 406.6%
ROIC1.1%
Cash ROIC (CROIC)2.8%
GP / Assets—
ROE-4.2%
ROA-1.1%
Gross Margin—
Oper. Margin1.4%
Net Margin-1.7%
FCF Margin2.9%
True FCF Margin2.5%
Quality & Dilution
Cash Conversion—
Accrual Ratio−10.3%
SBC % of FCF14.5%
SBC % of Rev0.4%
Reinvest. Rate81%
Sales Growth Y/Y+3.7%
Sales 3Y CAGR+4.2%
EPS Growth Y/Y+81.6%
FCF Growth Y/Y+96.1%
FCF 3Y CAGR—
Share Change Y/Y+1.1%
Balance Sheet & Scale
Revenue (FY)$2.6B
Gross Profit (FY)—
Oper. Income (FY)$37.2M
GAAP Net Income$-44.7M
True FCF (ex-SBC)$64.2M
Cash & Equiv$190.8M
Total Debt$1.8B
Net Cash (Debt)$-1.6B
Net Cash % MCap−72.2%
Debt / FCF (yrs)24.0y
Current Ratio0.9527.34M sh
Price & Technicals (EOD)
Perf Week—
Perf Month—
Perf Quarter—
Perf Half Y—
Perf YTD—
SMA 20 Dist—
SMA 50 Dist—
SMA 100 Dist—
Window High—
Window Low—
RSI (14) · Vol—
Income Distribution & Cash Flow ConversionHow every dollar of ALGT revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$0 ($0.0 / $100)
Operating Expenses$2.6B ($98.6 / $100)
Tax & Non-Operating$81.9M ($3.1 / $100)
Net Profit Kept$-44.7M ($0.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$-44.7M (-1.7% margin)
Operating Cash Flow (OCF)$389.8M(15.0% of rev)
Less: Capital Expenditures−$314.7M(12.1% of rev)
Standard Free Cash Flow (FCF)$75.1M(2.9% margin)
Less: Stock-Based Comp (SBC)−$10.9M(14.5% of FCF)
True FCF (Owner Cash ex-SBC)$64.2M(2.5% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $1.7B | $2.3B | $2.5B | $2.5B | $2.6B | +3.7% | +11.1% | |
| Total Operating Expenses | $1.4B | $2.2B | $2.3B | $2.8B | $2.6B | −6.7% | +15.5% | |
| Operating Income (EBIT) | $263.1M | $91.6M | $221.0M | $-240.0M | $37.2M | +115.5% | −38.7% | |
| Interest Expense | $68.5M | $115.7M | $153.2M | $156.4M | $150.2M | −4.0% | +21.7% | |
| Income Tax Expense | $44.8M | $2.5M | $41.5M | $-68.2M | $-10.2M | +85.1% | — | |
| GAAP Net Income | $151.9M | $2.5M | $117.6M | $-240.2M | $-44.7M | +81.4% | — | |
| Diluted EPS | $8.68 | $0.14 | $6.29 | $-13.49 | $-2.48 | +81.6% | — | |
| Diluted Shares | 17.2M | 18.0M | 18.0M | 17.9M | 18.1M | +1.1% | +1.2% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $400.7M | $245.4M | $159.6M | $302.3M | $190.8M | −36.9% | −16.9% | |
| Total Current Assets | $1.3B | $1.3B | $1.0B | $991.6M | $967.7M | −2.4% | −7.8% | |
| Total Assets | $4.0B | $4.5B | $4.9B | $4.4B | $4.2B | −5.0% | +1.3% | |
| Total Current Liabilities | $663.0M | $869.8M | $1.2B | $1.3B | $1.0B | −20.3% | +11.3% | |
| Total Debt (Short + Long Term) | $1.7B | $2.1B | $2.3B | $2.1B | $1.8B | −12.9% | +0.8% | |
| Total Liabilities | $2.8B | $3.3B | $3.5B | $3.3B | $3.2B | −5.5% | +3.3% | |
| Stockholders' Equity | $1.2B | $1.2B | $1.3B | $1.1B | $1.1B | −3.4% | −3.7% | |
| Net Cash / (Net Debt) | $-1.3B | $-1.9B | $-2.1B | $-1.8B | $-1.6B | +8.8% | — | |
| Invested Capital | $2.6B | $3.1B | $3.4B | $2.9B | $2.7B | −6.7% | +0.9% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $538.2M | $303.1M | $423.1M | $338.5M | $389.8M | +15.2% | −7.7% | |
| Depreciation & Amortization (D&A) | $181.0M | $197.5M | $223.1M | $258.3M | $249.2M | −3.5% | +8.3% | |
| Stock-Based Compensation (SBC) | $16.1M | $15.2M | $29.7M | $22.6M | $10.9M | −51.8% | −9.4% | |
| Capital Expenditures (CapEx) | $243.6M | $434.7M | $528.3M | $300.2M | $314.7M | +4.8% | +6.6% | |
| Free Cash Flow (FCF) | $294.6M | $-131.6M | $-105.2M | $38.3M | $75.1M | +96.1% | −28.9% | |
| True FCF (ex-SBC Owner Cash) | $278.5M | $-146.8M | $-135.0M | $15.7M | $64.2M | +308.3% | −30.7% | |
| Share Repurchases (Buybacks) | $0 | $29.9M | $30.1M | $6.0M | $13.6M | +125.3% | — | |
| Dividends Paid | $0 | $0 | $22.1M | $21.9M | $0 | −100.0% | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
On the Wire
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