Corporate Webpages Allegiant Travel Company
Allegiant Travel Co. (ALGT) runs an airline and is generally
considered to be an airline stock. It also maintains tourist
facilities in popular vacation spots. Most of the news on this
company consists of PR announcements of establishing new flight
routes and airport connections, often with abandoned air force
base strips, in various parts of the U.S. It offers reduced
fares from place to place on non-stop routes where larger airlines fail
to service.
One thing we noted were a bevy of class action lawsuits related
to a charge that management failed to report failures to
maintain its aircraft properly and was getting citations from
the FAA. The company is not affected by the Boeing 737 Max
ordered shutdowns from the FAA because it doesn't have any.
We think it has a good website and letter from CEO to
shareholders, pays a moderate dividend, and shows concern for
investors. Executives seem reasonably modestly compensated,
indicating good corporate governance, except for who is on the Board
of Directors. It has an acceptable Zenith Index.
Researchers are neutral to negative on the stock, for reasons we
find not always consistent. The p/e ratio is below its recent averagefor
this stock, a very rare condition in the American-based stocks
these days after the long bull market run. This may be due to
pullbacks associated with neutral to negative reviews from
several prominent research organizations including Standard & Poor's.
Earnings growth outpaced revenue growth, a trend that is not sustainable.
This is a common situation right now in airline industry stocks.
Debt is somewhat high for this company but it should be able to
comfortably repay debt based upon recent financials.
The stock may have entered into a new $140 - $150 trading range
but is at the top of that range. It shows signs of trending higher.
10-12-2019: Allegiant Travel Company (ALGT): Flying High on Low Fares to Less Traveled Places
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Intrinsic Value (Disc. CashFlow)
Fair Value Estimator
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation
Corporate Wepages
Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
Allegiant Travel Company (ALGT) Exchange: Nasdaq
1201 North Town Center Drive
Las Vegas, NV 89144 Sector: Industrials
United States Industry: Airlines
Allegiant Travel Company, a leisure travel company, provides travel
services and products to residents of under-served cities in the United
States. The company offers scheduled air transportation on
limited-frequency, nonstop flights between under-served cities and
leisure destinations. As of February 15, 2019, it operated a fleet of 79
Airbus A320 series aircraft. The company also provides air-related
services and products in conjunction with air transportation, including
convenience fees, baggage fees, advance seat assignments, travel
protection products, change fees, priority boarding, food and beverage
purchases on board, and other air-related services, as well as use of
its call center for purchases. In addition, it offers third party travel
products, such as hotel rooms and ground transportation, such as rental
cars and hotel shuttle products; and air transportation services through
fixed fee agreements and charter service on a year-round and ad-hoc
basis. Further, the company leases spare engines to a third party; and
offers management solutions to golf courses. Allegiant Travel Company
was founded in 1997 and is based in Las Vegas, Nevada.
Last Trade: 147.78 52-Week Range: 157.50 - 98.18
Employees: 4,179 Avg.Volume: 184,506 Shares
Corporate Governance:
Pillar scores are Audit: 2; Board: 8; Shareholder Rights: 2; Compensation: 4.
(A lower number means less governance risk.)
EPS: 11.34 Dividend Amount: $ 2.80 Yield: 1.88%
Ex-Dividend Date: Sep 18, 2019 Payout Ratio: 24.73
Key Statistics:
Trailing P/E: 13.11 Forward P/E (est.): 9.82
Target Price: 165.58
Qrtly Stock Price Growth (yoy): 28.95% Beta: 1.71
Qrtly S&P Index Growth (yoy): 12.60% Short Ratio: 5.08%
Qrtly Revenue Growth (yoy): 52.00% Shares Out: 16310000
Qrtly Earnings Growth (yoy): 41.00%
Book Value: 49.94 Debt/Equity: 189.30%
Price/Book Value: 2.98 Operating Profit Margin: 16.24%
Price/Sales: 1.39 Profit Margin: 10.54%
Market Cap: 2,423,000,000 Return on Equity: 25.43%
Enterprise Value: 3,230,000,000 Return on Assets: 6.69%
Operating Cash Flow: 356,500
Free Cash Flow: 25,160
Annual Income Statement: (All numbers in thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Total Revenue 1,667,447 1,503,778 1,362,831
Cost of Revenue 1,249,959 1,095,805 890,568
Gross Profit 417,488 407,973 472,263
Operating Expenses:
Research & Development 0 0 0
Selling, General & Administrative 73,514 52,711 20,527
Total Operating Expenses 174,029 145,551 101,705
Operating Income or Loss 243,459 262,422 370,558
Income from Continuing Operations:
Total Other Income/Expenses Net 395 -33,694 1,226
Interest Expense 53,762 38,990 28,836
Income Before Taxes 199,318 195,546 345,958
Income Tax Expense 37,516 644 126,368
Net Income from Continuing Op.s 161,802 194,902 219,590
Non-recurring Events:
Extraordinary Items 0 0 0
Net Income 161,802 194,902 219,590
Net Income Avail to Common Shares 159,696 194,902 219,590
Annual Cash Flow Statement: (All numbers in thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Net Income 161,802 194,902 219,590
Operating Activities:
Depreciation 129,351 121,713 105,216
Changes in Accounts Recv'bls 35,624 -30,568 -18,201
Changes in Liabilities 21,700 -177,308 147,118
Changes in Inventories 0 0 0
Changes in other Oper'g Acts 5,238 -32,333 -26,447
Total Cash Flow f Operations 356,500 391,131 346,861
Investing Activities:
Capital Exenditures -334,800 -568,439 -199,743
Investments 0 0 0
Other Cash Flows fr Investing 677 -6,695 -118,644
Total Cash Flows from Investing -268,977 -618,519 -401,837
Financing Activities:
Dividends Paid -45,247 -45,720 -67,540
Sale of Purchase of Stock -3,700 -3,700 -3,700
Other Cash Flows fr Financing 7,536 -379 -118,644
Total Cash Flows from Financing -62,363 222,126 32,575
Change in Cash & Cash Equiv. 25,272 -5,262 -22,401
Annual Balance Sheets: (All Numbers in Thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Current Assets:
Cash & Cash Equivalents 59,449 64,711 87,112
Short Term Investments 352,681 269,269 245,583
Net Receivables 71,057 40,667 15,146
Inventory 17,647 16,797 15,583
Other Current Assets 5,320 2,686 3,185
Total Current Assets 541,275 422,054 395,243
Long-Term Investments 1,788,963 1,561,465 1,273,393
Property, Plant & Equipt 1,512,415 1,095,314 885,942
Goodwill 0 0 0
Intangible Assets 0 0 0
Other Assets 16,571 12,027 5,725
Total Assets 2,180,157 1,671,576 1,351,662
Current Liabilities:
Accounts Payable 20,108 16,010 6,801
Current Portion LT Debt 96,829 96,267 80,319
Other Current Liabilities 210,184 194,001 198,136
Total Current Liabilities 550,180 392,898 388,468
Long Term Debt 950,131 722,048 567,609
Other Liabilities 13,407 7,670 0
Total Liabilities 1,632,210 1,197,954 1,001,657
Stockholder Equity:
Common Stock 23 22 22
Retained Earnings 902,579 753,397 573,619
Capital Surplus -2,840 -230 834
Total Stockholder Equity 547,947 473,622 350,005
Allegiant Travel Company (ALGT) [Indices near +3.0, near zero,
or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28? 2.1358 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 3.0000 Forward P/E Ratio < 28? 2.8513
Price/Sales Ratio < 2.3? 1.6547 Inventory/Sales < 5%? 3.0000
Sales < $1 Billion? 0.5997 Operating Margin < 7.5%? 0.4618
Balance Sheet Tests:
Debt/Equity < 0.40? 0.2113 Long-Term Debt Service: 0.5767
LTD Being Reduced? -3.0000 Short-Term Debt Service: 0.0000
Current Ratio > 2? 0.4919 Working Capital >= 1.5? 1.5450
Leverage Ratio < 20%? 0.1139 Debt/Assets < 1? 2.2946
Quick Ratio > 1? 3.0000 Inventory Turnover > 1? 0.1014
Share Equity Increase: 2.5101 Market Cap.< 1.5 Billion? 0.6191
Intangibles < 3% Assets? 3.0000
Income Tests:
Profit Margin < 7.5%? 1.4053 EPS Annual Growth > 10%? 0.1220
Dividend Yield > 2.0%? 1.0638 EPS 3-yr Growth > 15? 0.2063
Enterprise Value/Revenue 1.4537 EPS Growth Consistent? -2.0000
Enterprise Value/EBITDA: 3.0000 Collection < 45 days? 2.8931
EPS Qrtly Growth > 10%? 0.0024 Gross Pft/Cur. LTD > 1? 3.0000
Borrowing Int. Rate < 6%? 1.0604
Stock Performance Tests:
Volatility > 25%? 1.5065 % Held by Insiders < 5%? 0.2400
Beta > 1.25? 1.3680 % Held by Institut. < 50? 0.6136
50 Da MA > 200 Da MA? 0.0814 % Held by Institut. > 30? 2.7160
52-Wk Change vs. S&P 500: 0.5567 Short Ratio > 5? 1.0160
Price/Book Value < 3? 3.0000 Short % of Float > 20? 0.4810
Return on Assets > 17%? 0.3935 Average Volume > 100,000? 1.8451
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 3.0000 Positive Free Cash Flow? 3.0000
Positive Oper. Cash Flow? 3.0000 Price to C.F.Ratio < 14?: 3.0000
Cash Flow / Assets > 10%? 3.0000
ALGT Allegiant Travel Company Overall Zenith Index: 1.3715
Financial Statements |
ALLEGIANT TRAVEL CO (ALGT) INCOME STATEMENT Fiscal year ends in December. USD in thousan 2014-12 2015-12 2016-12 2017-12 2018-12 TTM Revenue 1,137,046 1,262,188 1,362,831 1,503,778 1,667,447 1,748,604 Cost of revenue 852,363 803,488 890,568 1,095,805 1,249,959 1,281,658 Gross profit 284,683 458,700 472,263 407,973 417,488 466,946 Operating expenses Sales, General and administrative 28,492 21,349 20,527 52,711 73,514 77,554 Other operating expenses 55,566 65,649 81,178 92,840 100,515 100,942 Total operating expenses 84,058 86,998 101,705 145,551 174,029 178,496 Operating income 200,625 371,702 370,558 262,422 243,459 288,450 Interest Expense 21,205 26,510 28,836 38,990 53,762 64,366 Other income (expense) -42,289 1,527 4,236 -27,886 9,621 8,508 Income before income taxes 137,131 346,719 345,958 195,546 199,318 232,592 Provision for income taxes 50,828 126,389 126,368 644 37,516 48,332 Net income from continuing ops 86,303 220,330 219,590 194,902 161,802 184,260 Other 386 44 0 0 0 0 Net income 86,689 220,374 219,590 194,902 161,802 184,260 Preferred dividend 0 0 0 2,917 2,106 2,106 Net income available to common shareholders 86,689 220,374 219,590 191,985 159,696 182,154 Earnings per share Basic 4.87 12.97 13.23 11.94 10.02 11.34 Diluted 4.86 12.94 13.21 11.93 10.00 11.32 Weighted average shares outstanding Basic 17,729 16,923 16,465 16,073 15,941 16,010 Diluted 17,782 16,962 16,489 16,095 15,967 16,035 ____________________________________________________________________________________________________________________________________________ ALLEGIANT TRAVEL CO (ALGT) BALANCE SHEET Fiscal year ends in December. USD in thousan 2014-12 2015-12 2016-12 2017-12 2018-12 Assets Current assets Cash Short-term investments 269,817 245,583 269,269 352,681 314,464 Total cash 359,427 332,695 333,980 412,130 395,984 Restricted cash 12,021 10,358 11,647 11,190 14,391 Receivables 14,216 15,146 40,667 71,057 36,014 Inventories 16,980 15,583 16,797 17,647 19,516 Deferred income taxes 6,271 0 0 0 0 Prepaid expenses 24,306 18,276 16,277 23,931 29,122 Other current assets 406 3,185 2,686 5,320 221 Total current assets 433,627 395,243 422,054 541,275 495,248 Non-current assets Property, plant and equipment Gross property, plant and equipment 1,047,998 1,273,393 1,561,465 1,788,963 2,221,245 Accumulated Depreciation -309,215 -387,451 -466,151 -276,548 -373,977 Net property, plant and equipment 738,783 885,942 1,095,314 1,512,415 1,847,268 Equity and other investments 59,201 64,752 124,834 78,570 51,526 Other long-term assets 7,774 5,725 29,374 47,897 104,626 Total non-current assets 805,758 956,419 1,249,522 1,638,882 2,003,420 Total assets 1,239,385 1,351,662 1,671,576 2,180,157 2,498,668 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt 53,819 74,069 86,226 214,761 152,287 Accounts payable 13,232 6,801 16,010 20,108 27,452 Taxes payable 705 1,415 394 8,298 18,999 Accrued liabilities 66,394 80,319 96,267 96,829 103,028 Deferred revenues 185,315 198,136 194,001 210,184 212,230 Other current liabilities 43,703 27,728 0 0 0 Total current liabilities 363,168 388,468 392,898 550,180 513,996 Non-current liabilities Long-term debt 539,280 567,609 722,048 950,131 1,119,446 Deferred taxes liabilities 42,872 45,580 75,338 118,492 164,027 Minority interest 1,188 0 0 0 0 Other long-term liabilities 0 0 7,670 13,407 10,878 Total non-current liabilities 583,340 613,189 805,056 1,082,030 1,294,351 Total liabilities 946,508 1,001,657 1,197,954 1,632,210 1,808,347 Stockholders' equity Common stock 22 22 22 23 23 Additional paid-in capital 221,257 228,945 238,236 253,840 270,935 Retained earnings 395,783 573,619 753,397 902,579 1,025,061 Treasury stock -325,396 -453,415 -517,803 -605,655 -605,037 Accumulated other comprehensive income 1,211 834 -230 -2,840 -661 Total stockholders' equity 292,877 350,005 473,622 547,947 690,321 Total liabilities and stockholders' equity 1,239,385 1,351,662 1,671,576 2,180,157 2,498,668 ____________________________________________________________________________________________________________________________________________ ALLEGIANT TRAVEL CO (ALGT) Statement of CASH FLOW Fiscal year ends in December. USD in thousan 2014-12 2015-12 2016-12 2017-12 2018-12 TTM Cash Flows From Operating Activities Depreciation & amortization 83,409 98,097 105,216 121,713 129,351 146,044 Investment/asset impairment charges 43,280 0 0 35,253 0 0 Deferred income taxes -7,353 8,979 29,846 42,473 38,222 48,615 Stock based compensation 16,723 10,474 9,389 13,856 15,098 18,120 Accounts receivable 2,641 -930 -18,201 -30,568 35,624 -11,335 Inventory 1,147 0 0 0 0 0 Prepaid expenses 8,591 6,030 1,999 -7,654 -5,191 1,068 Accounts payable 851 -6,431 9,209 4,798 8,633 5,451 Accrued liabilities 11,309 13,910 7,596 9,251 12,005 5,827 Other working capital 15,706 11,440 -27,050 -8,160 -45,833 -51,221 Other non-cash items 93,477 223,798 228,857 210,169 168,703 188,320 Net cash provided by operating activities 269,781 365,367 346,861 391,131 356,612 350,889 Cash Flows From Investing Activities Investments in property, plant, and equipmen -279,418 -252,686 -199,743 -568,439 -334,774 -381,787 Property, plant, and equipment reductions 390 0 0 0 0 0 Acquisitions, net -156 0 0 0 0 0 Purchases of investments -334,538 -357,546 -444,532 -363,300 -371,461 -333,165 Sales/Maturities of investments 297,968 373,816 361,082 319,915 436,581 495,363 Other investing activities 506 2,198 -118,644 -6,695 677 12,346 Net cash used for investing activities -315,248 -234,218 -401,837 -618,519 -268,977 -207,243 Cash Flows From Financing Activities Debt issued 385,300 121,000 321,160 497,540 211,225 970,863 Debt repayment -168,794 -67,930 -154,080 -138,858 -232,227 -612,444 Excess tax benefit from stock based compe 3,442 3,865 0 0 0 0 Repurchases of treasury stock -139,105 -129,455 -66,371 -90,457 -3,650 0 Cash dividends paid -41,787 -62,439 -67,540 -45,720 -45,247 -45,447 Other financing activities -1,690 1,312 -594 -379 7,536 -30,682 Net cash provided by (used for) financing 37,366 -133,647 32,575 222,126 -62,363 282,290 Net change in cash -8,101 -2,498 -22,401 -5,262 25,272 425,936 Cash at beginning of period 97,711 89,610 87,112 64,711 70,639 42,234 Cash at end of period 89,610 87,112 64,711 59,449 95,911 468,170 Free Cash Flow Operating cash flow 269,781 365,367 346,861 391,131 356,612 350,889 Capital expenditure -279,418 -252,686 -199,743 -568,439 -334,774 -381,787 Free cash flow -9,637 112,681 147,118 -177,308 21,838 -30,898 ____________________________________________________________________________________________________________________________________________
Average to Current P/E Ratios |
(ALGT) Allegiant Travel Co.
2014 2015 2016 2017 2018
Annual Earnings: 4.86 12.94 13.21 12.13 10.00
Average Price During Year: 114.56 187.37 154.21 147.68 146.90
P/E Ratio: 23.57 14.48 11.67 12.17 14.69
Average 5-Year P/E Ratio = 15.32
Current Price = 148.58
Previous 5 Quarter Earnings: 3.10 0.94 2.56 3.52 4.33
Current Annualized (Last Four Quarters) Earnings = 10.41
________
Average PE / Current PE = 1.07
--------
...a number above 1.00 is good
1.00 or below is bad
Financial Ratios |
. . . . . . . . . . . . Lowest to Highest, Compared to Industry
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Fair Value Estimator |
Fair Value Estimate:
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Ownership:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Standard & Poor's |
Management's Discussion of Results of Operations Excerpts |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for ALLEGIANT TRAVEL CO.:
Symbol? ALGT
Total Months Available: 25
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
139.37 98.18 148.80 120.91 157.50 133.62
RANGE = 157.50 TO 98.18 Close = 148.58
CHANNEL = 139.37 TO 133.62 Degree = 1
Volatility = 3.87% Index = 0
MACD Histogram Divergence |
The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.
Intraday Chart |
2 Days:
Val Idea |
4 out of 7 favorable, (positive opinion.)
Stock Consultant |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
2 out of 3 of the ultimate systems favor an upmove.
System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | + 1 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings | - 1 |
| Cash Flow | + 1 |
| Average to Current P/E | + 1 |
| Ratios | + 1 |
| Intrinsic Value DCF | + 1 |
| Fair Value Estimator | + 1 |
| Projected Earnings | + 1 |
| Research Reports | + 1 |
| Analysts | + 1 |
| Executive Perquisites | + 1 |
| Insider Activity | - 1 |
| Institutional Activity | - 1 |
| Management Reporting | + 1 |
| Short Interest | + 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| MACD Histogram Divergence | + 1 |
| Val Idea | + 1 |
| Stock Consultant | + 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | + 1 |
| Neural Network | - 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | + 1 |
| Total | + 18 |
Place 200 shares of Allegiant Travel Company (ALGT) on the Active List.
