ULCCNasdaqAir Transportation, ScheduledFiscal year ends December 31
Frontier Group Holdings, Inc.
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$4.61−0.11 (-2.33%)
Close on Oct 19, 2026
- Market cap
- $1.06B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
-4.0%+25.2 pts over 5 years
Net margin
-3.7%+14.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.4% | +3.8% | +24.4% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -52.8% | -25.0% | |
| Return on assets | – | – | -2.0% | |
| Current ratio | – | 0.65 | 0.46 | |
| Debt to equity | – | 1.12 | 1.25 | |
| Net debt to EBITDA | – | 0.09× | 0.98× | |
| Interest coverage | – | – | -3.2× | |
| Capex to revenue | – | 1.3% | 2.0% | |
| Diluted shares | – | 199M | 228M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Frontier Group generated $1.16B from operations and spent $272.00M on capital expenditure, dividends and share buybacks. 99% of that went back into the business.
Generated
$1.16B
Used
$272.00M
Capital expenditure$270.00M99%Dividends$2.00M1%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.7%
×Asset turnover0.56×
×Equity multiplier12.21×
=Return on equity, FY2025-25.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -3.7% | 0.56× | 12.21× | -25.0% |
| FY2024 | 2.3% | 0.68× | 10.03× | 15.3% |
| FY2023 | -0.3% | 0.76× | 9.34× | -2.2% |
| FY2022 | -1.1% | 0.76× | 8.41× | -7.1% |
| FY2021 | -5.0% | 0.53× | 9.27× | -24.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
0of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$137.00M
- Cash generatingOperating cash flow above zero-$525.00M
- Return on assets improvedROA up on the prior year1.7% → -2.2%
- Earnings backed by cashOperating cash flow above net income-$525.00M vs -$137.00M
- Less leverageLong-term debt to assets fell3.9% → 4.3%
- Better liquidityCurrent ratio rose0.53 → 0.46
- No dilutionShare count did not rise226M → 228M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.76 → 0.61