SKYWNasdaqAir Transportation, ScheduledFiscal year ends December 31
SKYWEST INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 24, 2026
$90.45−1.06 (-1.16%)
Close on Oct 19, 2026
- Market cap
- $3.58B
- P/E (TTM)
- 9.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
15.2%+10.1 pts over 5 years
Net margin
10.6%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.0% | +10.5% | +13.8% | +2.7% | |
| Operating income | +24.9% | +50.5% | +41.5% | +10.2% | |
| Net income | +32.6% | – | – | – | |
| EPS, diluted | +33.2% | +93.0% | – | +16.4% | |
| Free cash flow | +40.3% | +24.8% | +7.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 16.6% | |
| Return on assets | – | – | 5.9% | |
| Current ratio | 1.23 | 1.04 | 0.65 | |
| Debt to equity | 1.88 | 1.50 | 0.87 | |
| Net debt to EBITDA | 21.36× | 5.12× | 2.31× | |
| Interest coverage | -2.2× | 0.9× | 5.9× | |
| Capex to revenue | 0.5% | 0.6% | 0.8% | |
| Diluted shares | 52M | 50M | 41M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Skywest generated $3.68B from operations and spent $121.33M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$3.68B
Used
$121.33M
Capital expenditure$121.33M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.6%
×Asset turnover0.56×
×Equity multiplier2.82×
=Return on equity, FY202516.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.6% | 0.56× | 2.82× | 16.6% |
| FY2024 | 9.2% | 0.50× | 3.13× | 14.3% |
| FY2023 | 1.2% | 0.41× | 3.24× | 1.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$428.33M
- Cash generatingOperating cash flow above zero$940.36M
- Return on assets improvedROA up on the prior year4.6% → 6.0%
- Earnings backed by cashOperating cash flow above net income$940.36M vs $428.33M
- Less leverageLong-term debt to assets fell29.9% → 25.0%
- Better liquidityCurrent ratio rose0.78 → 0.65
- No dilutionShare count did not rise42M → 41M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.50 → 0.57