Allegiant Travel Company

Worth knowing

• Returning more cash than it generates. Paid out $94M vs $8M of free cash flow over the 3 fiscal years to 2025.

  Allegiant Travel returned $94M to shareholders over three years, 1147% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

• Stock pay outran buybacks. Stock-based pay expense $63M vs $50M spent repurchasing shares over the 3 fiscal years to 2025.

  Over three fiscal years Allegiant Travel recorded $63M of stock-based pay expense and spent $50M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Allegiant Travel recorded $63M of stock-based pay expense and spent $50M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

• Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

  Allegiant Travel made a profit per share in its latest year after a loss the year before.

• Valuation signals disagree. Cheaper than 69% of peers on operating cash profit (EBITDA), but only 27% on earnings.Cheaper than 69% of peers on operating cash profit, but only 27% on earnings.

  Relative to its operating cash profit (EBITDA), Allegiant Travel looks cheaper than 69% of peers; relative to its earnings, cheaper than only 27%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Allegiant Travel looks cheaper than 69% of peers; relative to its earnings, cheaper than only 27%. The valuation score blends the two, so look at which measure fits this business best.