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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $92.1M, roughly 4.1× FLYEXCLUSIVE INC.). Bristow Group Inc. runs the higher net margin — 4.9% vs -4.6%, a 9.5% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs 6.7%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $-11.0M). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
FLYX vs VTOL — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $377.3M |
| Net Profit | $-4.3M | $18.4M |
| Gross Margin | 13.7% | — |
| Operating Margin | -12.3% | 8.5% |
| Net Margin | -4.6% | 4.9% |
| Revenue YoY | 19.8% | 6.7% |
| Net Profit YoY | 32.0% | -42.1% |
| EPS (diluted) | $-0.25 | $0.61 |
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.
| Q4 25 | — | $377.3M | ||
| Q3 25 | $92.1M | $386.3M | ||
| Q2 25 | $91.3M | $376.4M | ||
| Q1 25 | $88.1M | $350.5M | ||
| Q4 24 | — | $353.5M | ||
| Q3 24 | $76.9M | $365.1M | ||
| Q2 24 | $79.0M | $359.7M | ||
| Q1 24 | $80.0M | $337.1M |
| Q4 25 | — | $18.4M | ||
| Q3 25 | $-4.3M | $51.5M | ||
| Q2 25 | $-4.8M | $31.7M | ||
| Q1 25 | $-5.4M | $27.4M | ||
| Q4 24 | — | $31.8M | ||
| Q3 24 | $-6.3M | $28.2M | ||
| Q2 24 | $-5.2M | $28.2M | ||
| Q1 24 | $-5.8M | $6.6M |
| 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% | — |
| Q4 25 | — | 8.5% | ||
| Q3 25 | -12.3% | 13.1% | ||
| Q2 25 | -13.5% | 11.3% | ||
| Q1 25 | -16.7% | 9.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -27.2% | 9.1% | ||
| Q2 24 | -27.6% | 12.4% | ||
| Q1 24 | -34.3% | 6.8% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | -4.6% | 13.3% | ||
| Q2 25 | -5.2% | 8.4% | ||
| Q1 25 | -6.2% | 7.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -8.2% | 7.7% | ||
| Q2 24 | -6.5% | 7.8% | ||
| Q1 24 | -7.3% | 2.0% |
| Q4 25 | — | $0.61 | ||
| Q3 25 | $-0.25 | $1.72 | ||
| Q2 25 | $-0.26 | $1.07 | ||
| Q1 25 | $-0.30 | $0.92 | ||
| Q4 24 | — | $1.07 | ||
| Q3 24 | $-0.32 | $0.95 | ||
| Q2 24 | $-0.32 | $0.96 | ||
| Q1 24 | $-0.35 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.7M | $286.2M |
| Total DebtLower is stronger | $123.9M | $671.5M |
| Stockholders' EquityBook value | $-434.2M | $1.1B |
| Total Assets | $448.1M | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $286.2M | ||
| Q3 25 | $18.7M | $245.5M | ||
| Q2 25 | $15.8M | $251.8M | ||
| Q1 25 | $14.7M | $191.1M | ||
| Q4 24 | — | $247.5M | ||
| Q3 24 | $18.7M | $200.3M | ||
| Q2 24 | $9.3M | $178.6M | ||
| Q1 24 | $5.3M | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | $123.9M | $675.0M | ||
| Q2 25 | $111.6M | $705.2M | ||
| Q1 25 | $121.6M | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | $197.9M | $629.1M | ||
| Q2 24 | $206.3M | $594.2M | ||
| Q1 24 | $209.4M | $544.1M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $-434.2M | $1.0B | ||
| Q2 25 | $-261.4M | $984.4M | ||
| Q1 25 | $-281.5M | $931.7M | ||
| Q4 24 | — | $891.7M | ||
| Q3 24 | $-192.0M | $899.2M | ||
| Q2 24 | $-149.7M | $849.1M | ||
| Q1 24 | $-149.5M | $820.7M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $448.1M | $2.3B | ||
| Q2 25 | $443.4M | $2.3B | ||
| Q1 25 | $466.8M | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $487.1M | $2.1B | ||
| Q2 24 | $494.7M | $2.0B | ||
| Q1 24 | $524.1M | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-209.0K | $76.9M |
| Free Cash FlowOCF − Capex | $-11.0M | $47.8M |
| FCF MarginFCF / Revenue | -12.0% | 12.7% |
| Capex IntensityCapex / Revenue | 11.7% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $76.9M | ||
| Q3 25 | $-209.0K | $23.1M | ||
| Q2 25 | $363.0K | $99.0M | ||
| Q1 25 | $-10.5M | $-603.0K | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | $-12.3M | $66.0M | ||
| Q2 24 | $-16.2M | $33.7M | ||
| Q1 24 | $-26.0M | $26.7M |
| Q4 25 | — | $47.8M | ||
| Q3 25 | $-11.0M | $-6.2M | ||
| Q2 25 | $353.0K | $67.4M | ||
| Q1 25 | $-14.6M | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | $-25.7M | $9.0M | ||
| Q2 24 | $-26.6M | $-16.7M | ||
| Q1 24 | $-64.5M | $-37.9M |
| Q4 25 | — | 12.7% | ||
| Q3 25 | -12.0% | -1.6% | ||
| Q2 25 | 0.4% | 17.9% | ||
| Q1 25 | -16.5% | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | -33.5% | 2.5% | ||
| Q2 24 | -33.7% | -4.6% | ||
| Q1 24 | -80.6% | -11.2% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | 11.7% | 7.6% | ||
| Q2 25 | 0.0% | 8.4% | ||
| Q1 25 | 4.7% | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | 17.5% | 15.6% | ||
| Q2 24 | 13.2% | 14.0% | ||
| Q1 24 | 48.2% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYX
Segment breakdown not available.
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
