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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and JBG SMITH Properties (JBGS). Click either name above to swap in a different company.

JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $92.1M, roughly 1.4× FLYEXCLUSIVE INC.). FLYEXCLUSIVE INC. runs the higher net margin — -4.6% vs -35.7%, a 31.1% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs -2.5%). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs -6.3%).

FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.

JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.

FLYX vs JBGS — Head-to-Head

Bigger by revenue
JBGS
JBGS
1.4× larger
JBGS
$127.6M
$92.1M
FLYX
Growing faster (revenue YoY)
FLYX
FLYX
+22.2% gap
FLYX
19.8%
-2.5%
JBGS
Higher net margin
FLYX
FLYX
31.1% more per $
FLYX
-4.6%
-35.7%
JBGS
Faster 2-yr revenue CAGR
FLYX
FLYX
Annualised
FLYX
21.9%
-6.3%
JBGS

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
FLYX
FLYX
JBGS
JBGS
Revenue
$92.1M
$127.6M
Net Profit
$-4.3M
$-45.5M
Gross Margin
13.7%
Operating Margin
-12.3%
-47.5%
Net Margin
-4.6%
-35.7%
Revenue YoY
19.8%
-2.5%
Net Profit YoY
32.0%
24.0%
EPS (diluted)
$-0.25
$-0.76

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
FLYX
FLYX
JBGS
JBGS
Q4 25
$127.6M
Q3 25
$92.1M
$123.9M
Q2 25
$91.3M
$126.5M
Q1 25
$88.1M
$120.7M
Q4 24
$130.8M
Q3 24
$76.9M
$136.0M
Q2 24
$79.0M
$135.3M
Q1 24
$80.0M
$145.2M
Net Profit
FLYX
FLYX
JBGS
JBGS
Q4 25
$-45.5M
Q3 25
$-4.3M
$-28.6M
Q2 25
$-4.8M
$-19.2M
Q1 25
$-5.4M
$-45.7M
Q4 24
$-59.9M
Q3 24
$-6.3M
$-27.0M
Q2 24
$-5.2M
$-24.4M
Q1 24
$-5.8M
$-32.3M
Gross Margin
FLYX
FLYX
JBGS
JBGS
Q4 25
Q3 25
13.7%
Q2 25
15.0%
Q1 25
12.8%
Q4 24
Q3 24
11.3%
Q2 24
7.9%
Q1 24
7.2%
Operating Margin
FLYX
FLYX
JBGS
JBGS
Q4 25
-47.5%
Q3 25
-12.3%
-27.5%
Q2 25
-13.5%
-18.4%
Q1 25
-16.7%
-44.7%
Q4 24
-53.6%
Q3 24
-27.2%
-22.4%
Q2 24
-27.6%
-24.3%
Q1 24
-34.3%
-30.1%
Net Margin
FLYX
FLYX
JBGS
JBGS
Q4 25
-35.7%
Q3 25
-4.6%
-23.1%
Q2 25
-5.2%
-15.2%
Q1 25
-6.2%
-37.9%
Q4 24
-45.8%
Q3 24
-8.2%
-19.8%
Q2 24
-6.5%
-18.0%
Q1 24
-7.3%
-22.2%
EPS (diluted)
FLYX
FLYX
JBGS
JBGS
Q4 25
$-0.76
Q3 25
$-0.25
$-0.48
Q2 25
$-0.26
$-0.29
Q1 25
$-0.30
$-0.56
Q4 24
$-0.70
Q3 24
$-0.32
$-0.32
Q2 24
$-0.32
$-0.27
Q1 24
$-0.35
$-0.36

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FLYX
FLYX
JBGS
JBGS
Cash + ST InvestmentsLiquidity on hand
$18.7M
$75.3M
Total DebtLower is stronger
$123.9M
Stockholders' EquityBook value
$-434.2M
$1.2B
Total Assets
$448.1M
$4.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FLYX
FLYX
JBGS
JBGS
Q4 25
$75.3M
Q3 25
$18.7M
$64.4M
Q2 25
$15.8M
$61.4M
Q1 25
$14.7M
$81.3M
Q4 24
$145.8M
Q3 24
$18.7M
$137.0M
Q2 24
$9.3M
$163.5M
Q1 24
$5.3M
$220.5M
Total Debt
FLYX
FLYX
JBGS
JBGS
Q4 25
Q3 25
$123.9M
Q2 25
$111.6M
Q1 25
$121.6M
Q4 24
Q3 24
$197.9M
Q2 24
$206.3M
Q1 24
$209.4M
Stockholders' Equity
FLYX
FLYX
JBGS
JBGS
Q4 25
$1.2B
Q3 25
$-434.2M
$1.2B
Q2 25
$-261.4M
$1.3B
Q1 25
$-281.5M
$1.6B
Q4 24
$1.8B
Q3 24
$-192.0M
$1.9B
Q2 24
$-149.7M
$2.0B
Q1 24
$-149.5M
$2.1B
Total Assets
FLYX
FLYX
JBGS
JBGS
Q4 25
$4.4B
Q3 25
$448.1M
$4.4B
Q2 25
$443.4M
$4.5B
Q1 25
$466.8M
$4.7B
Q4 24
$5.0B
Q3 24
$487.1M
$5.2B
Q2 24
$494.7M
$5.3B
Q1 24
$524.1M
$5.4B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FLYX
FLYX
JBGS
JBGS
Operating Cash FlowLast quarter
$-209.0K
$73.3M
Free Cash FlowOCF − Capex
$-11.0M
FCF MarginFCF / Revenue
-12.0%
Capex IntensityCapex / Revenue
11.7%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-51.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FLYX
FLYX
JBGS
JBGS
Q4 25
$73.3M
Q3 25
$-209.0K
$8.9M
Q2 25
$363.0K
$18.8M
Q1 25
$-10.5M
$12.9M
Q4 24
$129.4M
Q3 24
$-12.3M
$26.4M
Q2 24
$-16.2M
$23.8M
Q1 24
$-26.0M
$37.0M
Free Cash Flow
FLYX
FLYX
JBGS
JBGS
Q4 25
Q3 25
$-11.0M
Q2 25
$353.0K
Q1 25
$-14.6M
Q4 24
Q3 24
$-25.7M
Q2 24
$-26.6M
Q1 24
$-64.5M
FCF Margin
FLYX
FLYX
JBGS
JBGS
Q4 25
Q3 25
-12.0%
Q2 25
0.4%
Q1 25
-16.5%
Q4 24
Q3 24
-33.5%
Q2 24
-33.7%
Q1 24
-80.6%
Capex Intensity
FLYX
FLYX
JBGS
JBGS
Q4 25
Q3 25
11.7%
Q2 25
0.0%
Q1 25
4.7%
Q4 24
Q3 24
17.5%
Q2 24
13.2%
Q1 24
48.2%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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