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SkyWest Inc (SKYW) stock analysis

SKYWNasdaqAir Transportation, ScheduledFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 30, 2026Score 14/3044% below fair value
$82.50−2.91 (-3.41%)

Close on Nov 12, 2026Market cap $3.14BP/E 8.0Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value6Growth2Performance3Health3Dividend0

Mixed14 of 30 checks passed

SkyWest passes 14 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
6/6
Growth
2/6
Past performance
3/6
Financial health
3/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 43.8% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $85.41 is below our fair value estimate of $152.02.

  • Return on capital over 10%

    Return on invested capital was 10.3%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 10.5% a year over the last three fiscal years.

What to watch

  • High debt

    Debt is 84.2% of shareholders' equity, above the 40% we consider low.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.75; above 3 is the safe zone and below 1.8 the distress zone.

  • Growing slower than the industry

    Revenue grew 7.0% over the last twelve months; the Air Transportation, Scheduled, and Air Courier median is 11.0%.

  • Short-term assets don't cover short-term debts

    Current assets are 0.58 times current liabilities.

Valuation6/6

  • P/E below its 5-year median

    SkyWest's P/E of 8.3 is below its own 5-year median of 12.4.

  • P/E below the industry

    SkyWest's P/E of 8.3 is below the Air Transportation, Scheduled, and Air Courier median of 17.7.

  • EV/EBITDA below its 5-year median

    SkyWest's EV/EBITDA of 5.4 is below its 5-year median of 6.3.

  • P/B below the industry

    SkyWest's price-to-book of 1.16 is below the Air Transportation, Scheduled, and Air Courier median of 1.77.

  • Trading below fair value

    The share price of $85.41 is below our fair value estimate of $152.02.

  • Margin of safety over 20%

    The price is 43.8% below fair value, more than the 20% cushion we look for.

Growth2/6

  • Revenue growing 10%+ a year

    Revenue grew 10.5% a year over the last three fiscal years.

  • EPS growing 10%+ a year

    Diluted EPS grew 93.0% a year over the last three fiscal years.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 7.0% over the last twelve months; the Air Transportation, Scheduled, and Air Courier median is 11.0%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin trend

    This company does not report gross profit.

Past performance3/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital over 10%

    Return on invested capital was 10.3%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    SkyWest's return on equity of 15.1% is above the Air Transportation, Scheduled, and Air Courier median of 13.9%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin above the industry

    SkyWest's net margin of 9.7% is above the Air Transportation, Scheduled, and Air Courier median of 4.6%.

Financial health3/6

  • High debt

    Debt is 84.2% of shareholders' equity, above the 40% we consider low.

  • Debt falling against equity

    Debt to equity fell from 150% five years ago to 84.2%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 33.8% of total debt.

  • Interest well covered

    Operating income covers interest expense 5.9 times.

  • Short-term assets don't cover short-term debts

    Current assets are 0.58 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.75; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    SkyWest has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$152.02

The share price is 44% below this estimate.

20%+ below
Near fair value
20%+ above
$85.41Price$152.02Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E15.1×12.4×17.7×$155.5540%
EV/EBITDA7.7×6.3×9.1×$143.2335%
P/B1.6×1.3×1.8×$114.7410%
Earnings power10.6% cost of equity––$188.0215%
Fair value$152.02100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 12.4
  • Air Transportation, Scheduled, and Air Courier median 17.7

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$30.09M
Value traded per 1% price move
$17.02M

Downside

Medium risk

Typical loss in a bad month
17.1%
Volatility (annualized)
40%
Sharpe ratio, 1 year
-0.44
Beta to the S&P 500 (5Y)
1.15

Typical bad-month loss, week by week

25%: high

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%

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