ALLEGIANT TRAVEL COMPANY
ALGT · Industrials · FY2025 filings · Shallow moat ·
Doesn't clear the bar
The five investor questions
2009–2025: revenue 557940000.00 to 2324348000.00, increasing; diluted EPS 3.76 to -2.48, decreasing.
Not enough years of gross-margin data to score pricing power.
Median ROIC 18.7%, above the 12% hurdle in 60% of years.
Net debt/EBITDA n/ax, interest coverage 0x.
Owner earnings trend unclear, share count growing (dilution).
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
Price vs. owner-earnings value range
- Owner earnings (normalized)
- $2.5M
- Value range / share
- —
- Conservative high estimate / share
- —
- Recent price
- $102.17
- Price vs. high estimate
- No price data
Conservative range under moat-index@2.0.0: low end 11.1×, high end capped at 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
18 years of fundamentals
The business, in plain English
Across the filed record, revenue grew from $557.9M (FY2009) to $2.3B (FY2025) — about 9.3% a year compounded over 16 years.
It earned 3.3% on invested capital in FY2025, with a median of 27.7% across 17 filed years. The Returns on Capital filter above scores it 80/100.
The balance sheet carried $234.3M of total debt in FY2013. Balance-Sheet Safety scores it 28/100.
The share count fell 4.7% between FY2010 and FY2021 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 26/100.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Not disclosed in ALGT’s filings for these years — we don’t estimate it.
Gaps in a line mean that item isn’t in ALGT’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Moat Score history
Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.
Track record
How ALLEGIANT TRAVEL COMPANY’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored ALGT on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the 5 years ALGT rated Wide-moat (2014, 2016, 2017, 2018 and 2020), the median forward total return that followed — measured only after each year’s filings were public — was:
- 1 year 9% vs the S&P 500’s 19% (price basis) · median over 5 years
- 3 years 12% vs the S&P 500’s 37% (price basis) · median over 5 years
- 5 years −19% vs the S&P 500’s 85% (price basis) · median over 5 years
These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.
Industrials context
#179 of 423 scored Industrials companies, ranked by Moat Score.
Nearest peers by Moat Score
- #177NHTC Natural Health Trends Corp.48.3 out of 100, Shallow moatShallow moat
- #178AXON Axon Enterprise, Inc.48.2 out of 100, Shallow moatShallow moat
- #180SWK STANLEY BLACK & DECKER, INC.48.0 out of 100, Shallow moatShallow moat
- #181XPO XPO, Inc.48.0 out of 100, Shallow moatShallow moat
Compare ALGT with its nearest peers →All Industrials companies on the Index →
Common questions about ALGT
- Does ALLEGIANT TRAVEL COMPANY have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores ALLEGIANT TRAVEL COMPANY (ALGT) 48.2 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 59, pricing power not measurable from the filings, returns on capital 80, balance-sheet safety 28, capital discipline 26.
- How has ALGT's Moat Score changed over time?
- The record logs 9 readings since Jul 17, 2026; the latest reads 48.2 out of 100 (shallow moat). No tier changes on record yet. (A methodology upgrade on Jul 20, 2026 re-based the score; readings across engine versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.