Allegiant Travel Company
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The business demonstrably carries its own weight: the airline segment was profitable throughout 2023, 2024 and 2025 ($251.5 million, $142.2 million and $143.9 million of operating income), operating cash flow reached $389.8 million in 2025, the cost position is documented at 8.04 cents per available seat mile excluding fuel and special charges, and cash plus short-term investments stood at $902.2 million on March 31, 2026 with equity positive and rising ($1,096.1 million, a 24.8 percent equity ratio). Two real questions remain open: capital allocation — the resort cost $562.0 million pre-tax from 2023 to 2025 and returned only $189.9 million on the sale — and the load of $3,713.8 million in contractual obligations (December 31, 2025), including $1,303.3 million for 34 aircraft on order, against free cash flow of $2.2 million last year. Red would require a substance finding, and there is none: no covenant breach, no going-concern doubt, an undrawn $150.0 million revolving facility. Green is out of reach while the balance sheet is unfinished, especially with bond debt back up by roughly $247 million at 7.125 percent since June 2026 and the Sun Country integration only just beginning. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Allegiant is the turnaround story where you have to look closely at what actually turned. The airline never ran badly — it earned money throughout 2023 to 2025 ($251.5 million, $142.2 million and $143.9 million of operating income). What lost money was a resort that cost $562.0 million pre-tax and went to Blackstone affiliates for $189.9 million on September 4, 2025. Since then the healthy core has stood alone for the first time — but only for a few months: since May 13, 2026 Sun Country Airlines belongs to the group, paid for with $222.6 million in cash, roughly 47 percent more shares and $650 million of notes at 7.125 percent. Investing here is not a bet on the airline; it is a bet that the same management handles the next large commitment better than the last one. Not investment advice.
Earning power of the core business
The airline segment was profitable in each of 2023, 2024 and 2025: $251.5 million, $142.2 million and $143.9 million of operating income, and $188.1 million, $94.3 million and $75.3 million pre-tax. In the first quarter of 2026 — the first without the resort — it produced $81.1 million of operating income and $42.5 million of net income despite fuel costing 16.5 percent more.
Cost position and business model
Operating cost of 8.04 cents per available seat mile excluding fuel and special charges (2025, after 8.56 cents in 2024), 92.3 percent direct distribution through its own website and $76.35 of ancillary revenue per passenger make the model durable. The credit card partnership added $139.6 million in 2025 with 21 million loyalty members.
Capital allocation
The Sunseeker resort cost $562.0 million pre-tax between 2023 and 2025, after a $350 million construction loan and a $321.8 million impairment; the September 4, 2025 sale returned only $189.9 million. Barely was the space free when the next large bet followed — the acquisition of Sun Country for a preliminary $976.0 million.
Balance sheet and obligations
Against $1,096.1 million of shareholders' equity (March 31, 2026, a 24.8 percent equity ratio) stand contractual obligations of $3,713.8 million (December 31, 2025), including $1,303.3 million for 34 aircraft on order with $632.2 million due in 2026 alone. Free cash flow in 2025 was $2.2 million; the June notes add roughly $247 million of bond debt at 7.125 percent.
Data quality and metrics
The Piotroski score of 8 out of 9 and the Altman Z of 4.30 carried in our data set (as of July 24, 2026) do not survive a check against the annual accounts: our reconstruction gives 6 out of 9 and roughly 1.6 on the classic formula. What is reliable are the equity ratio (24.8 percent), liquidity ($902.2 million) and cash flow — for airlines the Altman Z is distorted anyway by customer prepayments.
Sun Country integration
The combination closed on May 13, 2026, three Sun Country representatives joined a board expanded to eleven, and the June 30, 2026 outlook (at least $1.25 of adjusted earnings per share for the second quarter) came in far above the April 30 standalone guidance. What is documented so far is the start, not the synergy — a single operating certificate is still outstanding.
Worth Noting
Allegiant reached our research list through our in-house stock scanner "Turnaround Candidates" (U.S. selection, as of July 27, 2026, 60 hits). The stock scores 6 of 8 on the turnaround check — exactly like 44 of the 60 hits; 15 score 7 and one scores 8. Within that tie group the order is an arbitrary database sort, and only the 25 strongest names are displayed: Allegiant is currently not among them. The lists are recalculated daily.
Metric caveat: the Piotroski score (8 of 9) and Altman Z (4.30) from our data set could not be confirmed against the annual accounts, so the text uses balance sheet ratios we computed ourselves (equity ratio 25.0 percent at December 31, 2025 and 24.8 percent at March 31, 2026, classic Altman Z roughly 1.6, Piotroski reconstruction 6 of 9). For airlines the Altman Z is structurally distorted because customers pay for tickets months in advance.
Timing: the most recent periodic report is the quarterly report (10-Q) as of March 31, 2026, filed May 6, 2026. The Sun Country closing (May 13, 2026), the notes issuance (June 24, 2026) and the raised outlook (June 30, 2026) came afterwards and are taken from current reports (8-K). Do not confuse the names: Sun Country Airlines Holdings (formerly Nasdaq: SNCY) has been a wholly owned subsidiary since May 13, 2026 and no longer trades on its own.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at ALGT since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 58.00 $ to 119.20 $ · Last price: 79.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Airlines
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Allegiant Travel Company ALGT | 2.1 | – | 17.2 | 22.8 | 14.9 | 3.7 | 27.5 |
| Delta Air Lines Inc DAL | 51.8 | 12.0 | 11.9 | 18.7 | 3.2 | 2.8 | 36.5 |
| United Airlines Holdings Inc UAL | 34.1 | 10.0 | 9.4 | 31.8 | 4.4 | 3.5 | 2.0 |
| Southwest Airlines Company LUV | 19.7 | 27.4 | 8.1 | 22.4 | 4.6 | 2.1 | 27.8 |
| LATAM Airlines Group S.A. LTM | 15.1 | 9.5 | 9.3 | 27.0 | 5.3 | 11.2 | 6.7 |
| American Airlines Group AAL | 8.5 | 42.6 | 28.1 | 21.2 | -0.1 | 0.8 | 3.7 |
| Copa Holdings SA CPA | 5.3 | 8.6 | 8.0 | 37.7 | 8.6 | 5.0 | 16.0 |
| Alaska Air Group Inc ALK | 4.5 | 84.1 | 13.7 | 17.7 | -7.6 | 21.3 | -31.6 |
| SkyWest Inc SKYW | 3.8 | 9.4 | 8.8 | 30.9 | 12.2 | 15.0 | -7.7 |
| Median of companies shown | 8.5 | 11.0 | 9.4 | 22.8 | 4.6 | 3.7 | 6.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,363 | 371 | 220 | 13.32 | 347 | 474 | 1,672 |
| 2017 | 1,504 | 227 | 195 | 12.11 | 391 | 553 | 2,180 |
| 2018 | 1,667 | 243 | 162 | 10.13 | 357 | 690 | 2,499 |
| 2019 | 1,841 | 364 | 232 | 14.47 | 441 | 884 | 3,011 |
| 2020 | 990 | -281 | -184 | -11.51 | 235 | 699 | 3,259 |
| 2021 | 1,708 | 263 | 152 | 8.81 | 538 | 1,224 | 4,010 |
| 2022 | 2,302 | 92 | 2 | 0.14 | 303 | 1,221 | 4,511 |
| 2023 | 2,510 | 221 | 118 | 6.53 | 423 | 1,329 | 4,921 |
| 2024 | 2,513 | -240 | -240 | -13.46 | 338 | 1,089 | 4,547 |
| 2025 | 2,607 | 175 | -45 | -2.48 | 390 | 1,053 | 4,209 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -12.00 | – | 628 | 2.70 | -34.40 | 84 | 24 |
| 2025: Q1 | 1.78 | – | 699 | 6.50 | 4.60 | 191 | 117 |
| 2025: Q2 | -3.62 | -572.40 | 689 | 3.50 | -9.50 | 92 | -11 |
| 2025: Q3 | -2.41 | – | 562 | 0.00 | -7.80 | -6 | -122 |
| 2025: Q4 | 1.76 | – | 656 | 4.50 | 4.90 | 112 | 90 |
| 2026: Q1 | 2.33 | 30.90 | 732 | 4.80 | 5.80 | 268 | 223 |
| 2026: Q2 | -0.21 | 94.20 | 944 | 36.90 | -0.50 | 46 | -75 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 13 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Character Change (CC)
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Oliver Kell: Strength on Down Day
- Power Trend
- Stage 2 Leader
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 6.16 | 4.88 – 7.05 | 3,698 | 62.1% | 13 |
| 12/31/2027 | 11.19 | 6.80 – 15.64 | 4,415 | 81.7% | 14 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 6.4% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $116.7M |
|---|---|
| Market cap | $2.12B |
| Free cash flow in year ten | $217.6M |
| Terminal value as a share of market value | 54.0% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Allegiant hat laut Geschäftsbericht 2025 einen firmeninternen „AI Council“ eingerichtet, der KI-Lösungen im Betrieb einführen und Routineprozesse automatisieren soll; KI ist erklärter Teil der Wachstumsstrategie, aber nachweislich keine eigene Umsatzquelle.
View the full file — quotes, sources, reviewed filings
„We have established an Artificial Intelligence (“AI”) Council to explore and implement AI-driven solutions across various business operations. This Council, composed of cross-functional leaders and experts, is focused on automating routine processes, enhancing data analytics capabilities, and improving decision-making frameworks."
Wir haben einen Rat für Künstliche Intelligenz („AI Council“) eingerichtet, der KI-gestützte Lösungen in verschiedenen Geschäftsbereichen prüfen und einführen soll. Dieser Rat aus bereichsübergreifenden Führungskräften und Fachleuten konzentriert sich darauf, Routineprozesse zu automatisieren, die Datenanalyse zu verbessern und Entscheidungsgrundlagen zu schärfen.
10-K · 2026-02-26 · View SEC filing
„taking advantage of the foundational technology we now have in place to leverage and embrace advancing technology (such as AI) to offer increased value to our customers and be able to scale more productively"
die vorhandene technische Grundlage nutzen, um fortschreitende Technologie (etwa KI) einzusetzen und aufzugreifen — damit wir unseren Kunden mehr Wert bieten und produktiver wachsen können
10-K · 2026-02-26 · View SEC filing
Filings Reviewed: 10-Q 2026-05-06 · 10-K 2026-02-26 · 10-Q 2025-11-06 · 10-Q 2025-08-06 · 10-Q 2025-05-07 · 10-K 2025-03-03
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 4.2%
- More than 10% revenue growth is expected for the coming year 33.2%
- Share count grows by less than 3% a year 0.0%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 6.6%
- Gross margin at 40% or higher and without meaningful erosion 15.4%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 3.2 x EBITDA
- Operating cash flow covers the profits of the last three years 1,319 m
- Return on capital at 15% or higher, or up versus two years ago 5.5%
- Insiders hold at least 10% or are net buyers 9.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 7.5%
- Exp. sales growth 3Y > 5% 30.1%
- EBIT growth 10Y > 5% -8.0%
- Exp. EBIT growth 3Y > 5% 30.1%
- Net debt < 4x EBIT 6.1x
- EBIT positive, 10Y straight 8
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% -4.2%
- ROCE > 15% 5.5%
- Expected return > 10% 34.7%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 4, 2026 | Hollingsworth Tyler Jay | SVP, Chief Operating Officer | Other | 195 | 105.09 | 20,493 |
| Aug 4, 2026 | Wells Drew Allen | EVP, Chief Commercial Officer | Other | 260 | 105.09 | 27,323 |
| Aug 4, 2026 | Neal Robert James | President & CFO | Other | 260 | 105.09 | 27,323 |
| Aug 4, 2026 | Aretos Rebecca | SVP, Chief Accounting Officer | Other | 220 | 105.09 | 23,120 |
The company
About the Company
Allegiant Travel Company, ein Freizeitreiseunternehmen, bietet Reise- und Freizeitdienstleistungen und -produkte für Bewohner unterversorgter Städte in den USA an. Das Unternehmen bietet planmäßigen Lufttransport auf Direktflügen mit geringer Frequenz zwischen unterversorgten Städten und Freizeitdestinationen.
- Employees
- 8,484
- Headquarters
- Las Vegas, NV
- Address
- 1201 North Town Center Drive, 89144 Las Vegas, United States
- Phone
- 702 851 7300
- Website
- allegiantair.com
- IPO Date
- 12/08/2006
- ISIN
- US01748X1028
Management
| Name | Title | Birth Year |
|---|---|---|
| Gregory Clark Anderson CPA | CEO & Director | 1982 |
| Robert J. Neal | President & CFO | 1984 |
| Tyler J. Hollingsworth | Executive VP & COO | 1981 |
| Drew A. Wells | Executive VP & Chief Commercial Officer | 1987 |
| Maurice J. Gallagher Jr. | Executive Chairman | 1950 |
| Rebecca J. Aretos | Senior VP of Finance & Chief Accounting Officer | 1976 |
| Asad Shaikh | Senior VP of Corporate Finance & Treasurer | – |
| Sherry Wilson | Managing Director of Investor Relations | – |
| Robert B. Goldberg Esq. | Senior VP, Senior Counsel & Secretary | – |
| Colton M. Snow | Senior VP of Marketing & Loyalty | 1990 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/04/2026 Allegiant Travel CO (ALGT): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 08/03/2026 Allegiant Travel CO (ALGT): Regulation FD Disclosure SEC ↗
- 07/30/2026 Allegiant Travel CO (ALGT): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.