Alaska Air Group Inc (ALK)

Return on total capital

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before interest and tax (EBIT) US$ in thousands -126,000 889,000 818,000 706,000 -257,000
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands — 4,372,000 4,113,000 3,816,000 3,801,000
Return on total capital — 20.33% 19.89% 18.50% -6.76%

December 31, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $-126,000K ÷ ($—K + $—K)
= —