Recent News
On November 25, 2025 Allegiant published preliminary October traffic showing scheduled-service passengers up 27.4% year-over-year and a load factor of 81.9%. On November 19–late November 2025 the airline announced route growth including multiple new nonstop services to Gulf Shores and resumed service at Huntsville International Airport, with additional new routes planned for 2026. Subsequent coverage detailed a broader network expansion spanning dozens of nonstop routes and promotional fares for 2026 schedules.
Technical Analysis
ADX / DI+/DI-: ADX at 36.45 signals a strong directional move. DI+ sits at 30.67 but shows a peak-and-reverse, which indicates a shift away from prior bullish dominance; DI- at 11.29 shows a dip-and-reverse that also points toward increasing downside pressure. Together, the directional indicators argue that the current trend carries measurable strength while momentum has begun to tilt toward sellers, which raises the risk of a pullback against the stock’s recent gains.
MACD: MACD reads 4.81 versus a signal line at 4.30, so momentum remains above its trigger, but the MACD trend shows a peak-and-reversal, signaling that bullish momentum has started to roll over. That combination often precedes short-term momentum losses even when the indicator sits above its signal line.
MRO: MRO at 37.59 (positive) indicates the market price trades above the regression target and therefore carries downside potential toward the model target; the MRO trend also peaked and reversed, reinforcing the immediate risk of mean reversion into nearer-term valuation levels.
RSI: RSI at 61.2 and rising reflects continued buying pressure without crossing extreme overbought levels; rising RSI alongside signals that argue for weakening momentum suggests a probable consolidation phase rather than a clean breakout continuation.
Price vs Moving Averages and Bands: Closing price $85.74 sits above the 12-day EMA ($83.13, increasing), the 20-day average ($82.78) and well above the 50-day ($70.50) and 200-day ($58.79) averages. Price trades near the 1x Bollinger upper band ($86.79), indicating short-term upside exhaustion. Ichimoku lines show the TenkanSen above the KijunSen, which supports trend bias, but several momentum indicators imply limited near-term follow-through.
Volatility & Volume: Beta reads ~2.0 and 42-day volatility higher than 52-week, signaling above-average price swings. Recent session volume (215,589) fell below 10-, 50- and 200-day averages, which weakens the conviction behind the latest price levels and increases the probability of volatility-driven retracement.
Fundamental Analysis
Profitability & Margins: Total revenue for the period registers $561,932,000 with gross margin at 5.862% and operating margin at -4.221%; EBIT at -$17,204,000 produces an EBIT margin of -3.062%. QoQ, EBIT margin contracted by 63.206%; YoY, EBIT margin improved by 5.623%.
Earnings Per Share: Reported EPS came in at -$2.09 versus an estimate of -$1.80, an EPS surprise of -16.111%, reflecting a larger-than-expected loss for the period.
Cash Flow & Liquidity: Operating cash flow stood negative at -$6,051,000 with free cash flow of -$121,733,000 and a free cash flow yield of -10.835%. Cash and short-term investments total $956,716,000 while beginning-period cash flow and end-period cash flow moved from $227,901,000 to $344,830,000, indicating cash inflow dynamics within the period but persistent free-cash outflow. Current ratio 0.97633 (97.633%) and cash ratio 0.83799 (83.799%) remain below conventional cushion thresholds, though short-term liquidity includes sizeable cash holdings.
Leverage: Total debt approximates $2,125,870,000 with net debt at $1,740,223,000; debt-to-assets equals 48.401% and debt-to-equity equals 209.372% (2.09x). Debt-to-EBITDA sits at about 50.92x, while interest coverage reads -0.492 (negative), indicating earnings insufficient to cover interest expense and signalling material leverage strain relative to EBITDA generation.
Revenue & Growth: YoY revenue growth measures 18.346%; QoQ revenue growth presented at 1,233.911% (per supplied metric). Reported revenue-per-share $30.666. Overall earnings growth declined by 42.265% and YoY earnings growth fell by 80.261%, highlighting volatile profit dynamics despite passenger traffic gains.
Valuation & Peer Context: Price-to-book sits at 1.1065, price-to-sales at 1.9994, and the enterprise value to revenue multiple and other valuation signals led WMDST to classify the stock as over-valued. Compared with the industry peer mean for EBIT margin (23.415% mean, 27.275% median), Allegiant’s EBIT margin at -3.062% sits well below peer benchmarks, indicating material margin shortfall relative to typical passenger-airline peers. The company’s leverage metrics and negative free cash flow weigh on intrinsic valuation despite improving traffic trends.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-04 |
| NEXT REPORT DATE: | 2026-02-03 |
| CASH FLOW | Begin Period Cash Flow | $ 227.9 M |
| Operating Cash Flow | $ -6.05 M | |
| Capital Expenditures | $ -115.68 M | |
| Change In Working Capital | $ -2.58 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 116.9 M | |
| End Period Cash Flow | $ 344.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 561.9 M | |
| Forward Revenue | $ -92.93 M | |
| COSTS | ||
| Cost Of Revenue | $ 529.0 M | |
| Depreciation | $ 59.0 M | |
| Depreciation and Amortization | $ 59.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 585.6 M | |
| PROFITABILITY | ||
| Gross Profit | $ 32.9 M | |
| EBITDA | $ 41.7 M | |
| EBIT | $ -17.20 M | |
| Operating Income | $ -23.72 M | |
| Interest Income | $ 10.1 M | |
| Interest Expense | $ 35.0 M | |
| Net Interest Income | $ -24.84 M | |
| Income Before Tax | $ -52.15 M | |
| Tax Provision | $ -8.58 M | |
| Tax Rate | 16.5 % | |
| Net Income | $ -43.57 M | |
| Net Income From Continuing Operations | $ -43.57 M | |
| EARNINGS | ||
| EPS Estimate | $ -1.80 | |
| EPS Actual | $ -2.09 | |
| EPS Difference | $ -0.29 | |
| EPS Surprise | -16.111 % | |
| Forward EPS | $ 1.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.4 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.0 B | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 956.7 M | |
| Cash | $ 316.2 M | |
| Net Receivables | $ 57.2 M | |
| Inventory | $ 33.8 M | |
| Long-Term Investments | $ 48.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 55.3 M | |
| Short-Term Debt | $ 270.6 M | |
| Total Current Liabilities | $ 1.1 B | |
| Net Debt | $ 1.7 B | |
| Total Debt | $ 2.1 B | |
| Total Liabilities | $ 3.4 B | |
| EQUITY | ||
| Total Equity | $ 1.0 B | |
| Retained Earnings | $ 926.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.41 | |
| Shares Outstanding | 18.324 M | |
| Revenue Per-Share | $ 30.67 | |
| VALUATION | Market Capitalization | $ 1.1 B |
| Enterprise Value | $ 2.3 B | |
| Enterprise Multiple | 54.917 | |
| Enterprise Multiple QoQ | -71.891 % | |
| Enterprise Multiple YoY | 311.22 % | |
| Enterprise Multiple IPRWA | high: 128.246 ALGT: 54.917 mean: 39.654 median: 27.904 low: -116.264 |
|
| EV/R | 4.08 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.326 | |
| Asset To Liability | 1.301 | |
| Debt To Capital | 0.677 | |
| Debt To Assets | 0.484 | |
| Debt To Assets QoQ | 4.457 % | |
| Debt To Assets YoY | 450.637 % | |
| Debt To Assets IPRWA | high: 0.836 ALGT: 0.484 mean: 0.367 median: 0.342 low: 0.09 |
|
| Debt To Equity | 2.094 | |
| Debt To Equity QoQ | 8.705 % | |
| Debt To Equity YoY | 546.649 % | |
| Debt To Equity IPRWA | high: 20.972 mean: 2.482 ALGT: 2.094 median: 1.115 low: -9.102 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.107 | |
| Price To Book QoQ | 18.371 % | |
| Price To Book YoY | 47.633 % | |
| Price To Book IPRWA | high: 10.814 mean: 3.528 median: 2.197 ALGT: 1.107 low: -3.452 |
|
| Price To Earnings (P/E) | -29.337 | |
| Price To Earnings QoQ | 96.06 % | |
| Price To Earnings YoY | 11.686 % | |
| Price To Earnings IPRWA | high: 192.156 mean: 36.296 median: 33.289 ALGT: -29.337 low: -71.163 |
|
| PE/G Ratio | 0.694 | |
| Price To Sales (P/S) | 1.999 | |
| Price To Sales QoQ | 39.639 % | |
| Price To Sales YoY | 15.371 % | |
| Price To Sales IPRWA | high: 11.583 median: 8.817 mean: 6.669 ALGT: 1.999 low: 0.583 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 40.631 | |
| Forward PE/G | -0.961 | |
| Forward P/S | -13.139 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.787 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.128 | |
| Asset Turnover Ratio QoQ | -17.454 % | |
| Asset Turnover Ratio YoY | 10.318 % | |
| Asset Turnover Ratio IPRWA | high: 0.318 median: 0.211 mean: 0.206 ALGT: 0.128 low: 0.022 |
|
| Receivables Turnover | 8.509 | |
| Receivables Turnover Ratio QoQ | -0.957 % | |
| Receivables Turnover Ratio YoY | 5.035 % | |
| Receivables Turnover Ratio IPRWA | high: 13.463 ALGT: 8.509 mean: 4.85 median: 4.526 low: 1.615 |
|
| Inventory Turnover | 15.652 | |
| Inventory Turnover Ratio QoQ | -7.706 % | |
| Inventory Turnover Ratio YoY | 8.026 % | |
| Inventory Turnover Ratio IPRWA | high: 44.946 ALGT: 15.652 mean: 8.567 median: 6.892 low: 0.194 |
|
| Days Sales Outstanding (DSO) | 10.724 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 6.166 | |
| Cash Conversion Cycle Days QoQ | 26.818 % | |
| Cash Conversion Cycle Days YoY | -6.757 % | |
| Cash Conversion Cycle Days IPRWA | high: 339.481 ALGT: 6.166 mean: 5.092 median: -13.786 low: -237.665 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -20.793 | |
| CapEx To Revenue | -0.206 | |
| CapEx To Depreciation | -1.962 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.8 B | |
| Net Invested Capital | $ 3.1 B | |
| Invested Capital | $ 3.1 B | |
| Net Tangible Assets | $ 1.0 B | |
| Net Working Capital | $ -27.02 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.838 | |
| Current Ratio | 0.976 | |
| Current Ratio QoQ | -11.517 % | |
| Current Ratio YoY | 29.521 % | |
| Current Ratio IPRWA | high: 5.843 mean: 1.364 ALGT: 0.976 median: 0.714 low: 0.25 |
|
| Quick Ratio | 0.947 | |
| Quick Ratio QoQ | -11.734 % | |
| Quick Ratio YoY | 30.591 % | |
| Quick Ratio IPRWA | high: 3.287 mean: 1.113 ALGT: 0.947 median: 0.713 low: 0.269 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 50.921 | |
| Cost Of Debt | 1.403 % | |
| Interest Coverage Ratio | -0.492 | |
| Interest Coverage Ratio QoQ | -73.235 % | |
| Interest Coverage Ratio YoY | -18.033 % | |
| Interest Coverage Ratio IPRWA | high: 15.361 mean: 6.112 median: 5.514 ALGT: -0.492 low: -14.2 |
|
| Operating Cash Flow Ratio | 0.017 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 9.959 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.071 % | |
| Revenue Growth | -18.488 % | |
| Revenue Growth QoQ | 1233.911 % | |
| Revenue Growth YoY | 18.346 % | |
| Revenue Growth IPRWA | high: 26.335 % mean: 10.5 % median: 0.15 % ALGT: -18.488 % low: -33.703 % |
|
| Earnings Growth | -42.265 % | |
| Earnings Growth QoQ | -85.912 % | |
| Earnings Growth YoY | -80.261 % | |
| Earnings Growth IPRWA | high: 152.941 % mean: 22.825 % median: -8.257 % ALGT: -42.265 % low: -118.681 % |
|
| MARGINS | ||
| Gross Margin | 5.862 % | |
| Gross Margin QoQ | -65.857 % | |
| Gross Margin YoY | -31.173 % | |
| Gross Margin IPRWA | high: 77.926 % median: 37.307 % mean: 33.256 % ALGT: 5.862 % low: -3.273 % |
|
| EBIT Margin | -3.062 % | |
| EBIT Margin QoQ | -63.206 % | |
| EBIT Margin YoY | 5.623 % | |
| EBIT Margin IPRWA | high: 42.202 % median: 27.275 % mean: 23.415 % ALGT: -3.062 % low: -82.339 % |
|
| Return On Sales (ROS) | -4.221 % | |
| Return On Sales QoQ | -157.695 % | |
| Return On Sales YoY | 45.602 % | |
| Return On Sales IPRWA | high: 46.549 % median: 23.25 % mean: 22.635 % ALGT: -4.221 % low: -56.561 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -121.73 M | |
| Free Cash Flow Yield | -10.835 % | |
| Free Cash Flow Yield QoQ | 918.327 % | |
| Free Cash Flow Yield YoY | 267.662 % | |
| Free Cash Flow Yield IPRWA | high: 3.783 % median: -0.267 % mean: -0.367 % ALGT: -10.835 % low: -26.041 % |
|
| Free Cash Growth | 1059.031 % | |
| Free Cash Growth QoQ | -1071.749 % | |
| Free Cash Growth YoY | -308.286 % | |
| Free Cash Growth IPRWA | ALGT: 1059.031 % high: 214.882 % mean: -74.717 % median: -109.135 % low: -287.931 % |
|
| Free Cash To Net Income | 2.794 | |
| Cash Flow Margin | 3.379 % | |
| Cash Flow To Earnings | -0.436 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.992 % | |
| Return On Assets QoQ | -32.333 % | |
| Return On Assets YoY | 30.698 % | |
| Return On Assets IPRWA | high: 9.974 % mean: 4.03 % median: 1.793 % ALGT: -0.992 % low: -8.463 % |
|
| Return On Capital Employed (ROCE) | -0.529 % | |
| Return On Equity (ROE) | -0.043 | |
| Return On Equity QoQ | -30.449 % | |
| Return On Equity YoY | 51.661 % | |
| Return On Equity IPRWA | high: 0.466 mean: 0.136 median: 0.075 ALGT: -0.043 low: -0.514 |
|
| DuPont ROE | -4.207 % | |
| Return On Invested Capital (ROIC) | -0.468 % | |
| Return On Invested Capital QoQ | -66.548 % | |
| Return On Invested Capital YoY | -111.471 % | |
| Return On Invested Capital IPRWA | high: 5.629 % mean: 3.228 % median: 2.917 % ALGT: -0.468 % low: -5.447 % |
|