# Allegiant Travel Company (ALGT)

> Source: Nexqual · https://nexqual.com/ALGT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Allegiant Travel Company (ALGT), nexqual.com/ALGT" · informational, not investment advice.

**Price:** USD 70.36 (+0.44% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 70.05 · day 67.55–72.21 · 52w 57.11–123.63 · market cap $1.92B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.89B, net income $26.0M (0.9% margin), free cash flow $103M (SEC filings).
- Valuation: P/E 74.0x (avg 12.7x at the last 1 fiscal year-ends), EV/EBITDA 9.4x, net debt $1.73B.
- Earnings quality: non-operating income -$89.3M vs operating income $142M over the last four quarters; P/E excluding non-operating income ≈22.9x (estimate: non-operating income taxed at the company's 35% effective rate).
- 1 of 80 tracked superinvestors hold ALGT (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 2.07 on a 1–5 scale) (14 analysts), mean target USD 117.43 (range 85–165).
- Total return with dividends: 1Y +8.6% vs S&P 500 +14.9%; 5Y -60.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -0.5, revenue estimate $945M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.71B | $2.30B | $2.51B | $2.51B | $2.61B | $2.89B |
| Operating income | $263M | $91.6M | $221M | -$240M | $37.2M | $142M |
| Net income | $152M | $2.5M | $118M | -$240M | -$44.7M | $26.0M |
| EPS (diluted) | $8.68 | $0.14 | $6.29 | -$13.49 | -$2.48 | — |
| Free cash flow | $295M | -$132M | -$105M | $38.3M | $75.1M | $103M |
| Operating margin | 15.4% | 4.0% | 8.8% | -9.6% | 1.4% | 4.9% |
| Net margin | 8.9% | 0.1% | 4.7% | -9.6% | -1.7% | 0.9% |
| Revenue growth | +72.5% | +34.8% | +9.0% | +0.1% | +3.7% | — |
| Cash + short-term investments | $1.18B | $955M | $815M | $781M | $806M | — |
| Total debt | $1.74B | $2.10B | $2.26B | $2.07B | $1.80B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 74.0x · P/E ex non-operating (est.) ≈22.9x · P/S 0.7x · EV/EBITDA 9.4x · EV/Sales 1.3x · P/FCF 18.7x · P/B 1.1x · FCF yield 5.36% · Earnings yield 1.35% · Buyback yield (TTM) 0.15% · Net debt $1.73B · EV $3.65B
P/E at fiscal year-ends: Dec 2023 12.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ALGT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Pacific Advisors |  | 0.05% | $4.0M | Unchanged |

## Analysts
Consensus Buy (mean 2.07 on a 1–5 scale), 14 analysts; mean target USD 117.43 (low 85, high 165).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | Susquehanna | Target lowered | Neutral | $110 → $85 |
| 2026-09-14 | UBS | Upgrade | Neutral → Buy | $111 → $107 |
| 2026-09-11 | Barclays | Target lowered | Overweight | $145 → $115 |
| 2026-08-24 | Raymond James | Upgrade | Outperform → Strong Buy | $138 → $116 |
| 2026-08-07 | Susquehanna | Target lowered | Neutral | $132 → $110 |
| 2026-08-05 | UBS | Target raised | Neutral | $103 → $111 |
| 2026-07-07 | Melius Research | Upgrade | Hold → Buy | $160 |
| 2026-07-07 | Susquehanna | Target raised | Neutral | $85 → $132 |
| 2026-07-06 | Morgan Stanley | Target raised | Equal-Weight | $100 → $115 |
| 2026-07-02 | Goldman Sachs | Target raised | Buy | $125 → $142 |
| 2026-07-01 | B of A Securities | Target raised | Neutral | $100 → $120 |
| 2026-07-01 | JP Morgan | Initiated | Overweight | $156 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +8.6% | -60.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +8.6% | -16.9% |
| Volatility (annualized) | 61.6% | 52.9% |
| Max drawdown | -44.4% (Jul 2026→Oct 2026) | -79.1% (Nov 2021→Aug 2024) |

## Peers (Airlines)
AERO (Grupo Aeromexico, S.A.B. de C.V) USD 15.21 -0.33% · ULCC (Frontier Group Holdings, Inc.) USD 5.3 +5.16% · AZUL (Azul S.A.) USD 6 -4.15% · JBLU (JetBlue Airways Corporation) USD 2.65 -9.56% · SKYW (SkyWest, Inc.) USD 95.73 +1.57% · ALK (Alaska Air Group, Inc.) USD 35.38 +5.49%

## More
Full page: https://nexqual.com/ALGT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ALGT's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1362468/000136246826000008/algt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Expedia (EXPE) | "We seek to sell our product directly to our customers as opposed to through outside sales channels, thus largely avoiding the fees charged by travel websites (Expedia, Orbitz or Travelocity) and traditional global distri…" |
| Partner | Boeing (BA) | "In 2021, we opportunistically entered into an agreement with The Boeing Company ("Boeing") and CFM International to purchase 50 newly manufactured 737 MAX aircraft with options to purchase additional 737 MAX aircraft." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Passenger Revenue | $822.5M | 87.2% | +33.1% | — | — |
| Allegiant Air | $776.2M | 82.3% | +25.6% | $30.1M | 3.9% |
| Sun Country Airlines | $167.3M | 17.7% | — | -$9.0M | -5.4% |
| Total revenue | $943.5M | 100% | — | $21.1M | 2.2% |
The lines above cover 187.2% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Scheduled service | $411.5M | 43.6% | +66.4% |
| Ancillary air-related charges | $390.5M | 41.4% | +10.7% |
| Loyalty redemptions | $20.5M | 2.2% | +14.9% |
| Total revenue | $943.5M | 100% | — |
The lines above cover 87.2% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.50 | $0.03 | -1954.6% | $945.4M | 13 |
| Next quarter (ends 2026-12-31) | $0.82 | $2.88 | -71.4% | $1.11B | 13 |
| Current fiscal year (ends 2026-12-31) | $5.50 | $7.56 | -27.2% | $3.72B | 14 |
| Next fiscal year (ends 2027-12-31) | $9.85 | $12.24 | -19.6% | $4.55B | 14 |