vs
Side-by-side financial comparison of JETBLUE AIRWAYS CORP (JBLU) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
JETBLUE AIRWAYS CORP is the larger business by last-quarter revenue ($2.2B vs $997.0M, roughly 2.3× Frontier Group Holdings, Inc.). Frontier Group Holdings, Inc. runs the higher net margin — 5.3% vs -7.9%, a 13.2% gap on every dollar of revenue. On growth, Frontier Group Holdings, Inc. posted the faster year-over-year revenue change (-0.5% vs -1.4%). Frontier Group Holdings, Inc. produced more free cash flow last quarter ($-113.0M vs $-287.0M). Over the past eight quarters, Frontier Group Holdings, Inc.'s revenue compounded faster (7.4% CAGR vs 0.8%).
JetBlue Airways Corporation, stylized as jetBlue, is an American low-cost airline headquartered in Long Island City, in Queens, New York City. Primarily a point-to-point carrier, JetBlue's network features six focus cities including its main hub at New York City's John F. Kennedy International Airport, with destinations across the Americas and Europe. Although not a member of any global airline alliances, JetBlue has codeshare agreements with airlines from Oneworld, SkyTeam, and Star Alliance.
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
JBLU vs ULCC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $997.0M |
| Net Profit | $-177.0M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | -4.5% | 4.9% |
| Net Margin | -7.9% | 5.3% |
| Revenue YoY | -1.4% | -0.5% |
| Net Profit YoY | -302.3% | -1.9% |
| EPS (diluted) | $-0.47 | $0.24 |
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 | $2.2B | $997.0M | ||
| Q3 25 | $2.3B | $886.0M | ||
| Q2 25 | $2.4B | $929.0M | ||
| Q1 25 | $2.1B | $912.0M | ||
| Q4 24 | $2.3B | $1.0B | ||
| Q3 24 | $2.4B | $935.0M | ||
| Q2 24 | $2.4B | $973.0M | ||
| Q1 24 | $2.2B | $865.0M |
| Q4 25 | $-177.0M | $53.0M | ||
| Q3 25 | $-143.0M | $-77.0M | ||
| Q2 25 | $-74.0M | $-70.0M | ||
| Q1 25 | $-208.0M | $-43.0M | ||
| Q4 24 | $-44.0M | $54.0M | ||
| Q3 24 | $-60.0M | $26.0M | ||
| Q2 24 | $25.0M | $31.0M | ||
| Q1 24 | $-716.0M | $-26.0M |
| Q4 25 | -4.5% | 4.9% | ||
| Q3 25 | -4.3% | -8.7% | ||
| Q2 25 | 0.3% | -8.1% | ||
| Q1 25 | -8.1% | -5.0% | ||
| Q4 24 | 0.7% | 4.5% | ||
| Q3 24 | -1.6% | 2.0% | ||
| Q2 24 | 2.3% | 2.6% | ||
| Q1 24 | -32.5% | -3.6% |
| Q4 25 | -7.9% | 5.3% | ||
| Q3 25 | -6.2% | -8.7% | ||
| Q2 25 | -3.1% | -7.5% | ||
| Q1 25 | -9.7% | -4.7% | ||
| Q4 24 | -1.9% | 5.4% | ||
| Q3 24 | -2.5% | 2.8% | ||
| Q2 24 | 1.0% | 3.2% | ||
| Q1 24 | -32.4% | -3.0% |
| Q4 25 | $-0.47 | $0.24 | ||
| Q3 25 | $-0.39 | $-0.34 | ||
| Q2 25 | $-0.21 | $-0.31 | ||
| Q1 25 | $-0.59 | $-0.19 | ||
| Q4 24 | $-0.09 | $0.24 | ||
| Q3 24 | $-0.17 | $0.11 | ||
| Q2 24 | $0.07 | $0.14 | ||
| Q1 24 | $-2.11 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.2B | $671.0M |
| Total DebtLower is stronger | $7.7B | $620.0M |
| Stockholders' EquityBook value | $2.1B | $491.0M |
| Total Assets | $16.6B | $7.2B |
| Debt / EquityLower = less leverage | 3.65× | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2B | $671.0M | ||
| Q3 25 | $2.6B | $566.0M | ||
| Q2 25 | $3.1B | $563.0M | ||
| Q1 25 | $3.5B | $686.0M | ||
| Q4 24 | $3.6B | $740.0M | ||
| Q3 24 | $4.0B | $576.0M | ||
| Q2 24 | $1.5B | $658.0M | ||
| Q1 24 | $1.6B | $622.0M |
| Q4 25 | $7.7B | $620.0M | ||
| Q3 25 | $7.8B | $673.0M | ||
| Q2 25 | $7.7B | $565.0M | ||
| Q1 25 | $8.1B | $512.0M | ||
| Q4 24 | $8.1B | $507.0M | ||
| Q3 24 | $7.9B | $474.0M | ||
| Q2 24 | $5.0B | $455.0M | ||
| Q1 24 | $4.7B | $469.0M |
| Q4 25 | $2.1B | $491.0M | ||
| Q3 25 | $2.3B | $434.0M | ||
| Q2 25 | $2.4B | $506.0M | ||
| Q1 25 | $2.4B | $570.0M | ||
| Q4 24 | $2.6B | $604.0M | ||
| Q3 24 | $2.6B | $549.0M | ||
| Q2 24 | $2.7B | $520.0M | ||
| Q1 24 | $2.6B | $484.0M |
| Q4 25 | $16.6B | $7.2B | ||
| Q3 25 | $16.6B | $6.7B | ||
| Q2 25 | $16.9B | $6.5B | ||
| Q1 25 | $17.1B | $6.5B | ||
| Q4 24 | $16.8B | $6.2B | ||
| Q3 24 | $16.6B | $5.8B | ||
| Q2 24 | $14.0B | $5.7B | ||
| Q1 24 | $13.7B | $5.2B |
| Q4 25 | 3.65× | 1.26× | ||
| Q3 25 | 3.42× | 1.55× | ||
| Q2 25 | 3.21× | 1.12× | ||
| Q1 25 | 3.31× | 0.90× | ||
| Q4 24 | 3.08× | 0.84× | ||
| Q3 24 | 2.98× | 0.86× | ||
| Q2 24 | 1.86× | 0.88× | ||
| Q1 24 | 1.78× | 0.97× |
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 | $49.0M | $-91.0M |
| Free Cash FlowOCF − Capex | $-287.0M | $-113.0M |
| FCF MarginFCF / Revenue | -12.8% | -11.3% |
| Capex IntensityCapex / Revenue | 15.0% | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.2B | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $-91.0M | ||
| Q3 25 | $-142.0M | $-215.0M | ||
| Q2 25 | $-115.0M | $-133.0M | ||
| Q1 25 | $114.0M | $-86.0M | ||
| Q4 24 | $-17.0M | $87.0M | ||
| Q3 24 | $-29.0M | $-156.0M | ||
| Q2 24 | $-14.0M | $9.0M | ||
| Q1 24 | $204.0M | $-22.0M |
| Q4 25 | $-287.0M | $-113.0M | ||
| Q3 25 | $-411.0M | $-217.0M | ||
| Q2 25 | $-412.0M | $-166.0M | ||
| Q1 25 | $-62.0M | $-104.0M | ||
| Q4 24 | $-368.0M | $73.0M | ||
| Q3 24 | $-302.0M | $-170.0M | ||
| Q2 24 | $-441.0M | $-22.0M | ||
| Q1 24 | $-223.0M | $-39.0M |
| Q4 25 | -12.8% | -11.3% | ||
| Q3 25 | -17.7% | -24.5% | ||
| Q2 25 | -17.5% | -17.9% | ||
| Q1 25 | -2.9% | -11.4% | ||
| Q4 24 | -16.2% | 7.3% | ||
| Q3 24 | -12.8% | -18.2% | ||
| Q2 24 | -18.2% | -2.3% | ||
| Q1 24 | -10.1% | -4.5% |
| Q4 25 | 15.0% | 2.2% | ||
| Q3 25 | 11.6% | 0.2% | ||
| Q2 25 | 12.6% | 3.6% | ||
| Q1 25 | 8.2% | 2.0% | ||
| Q4 24 | 15.4% | 1.4% | ||
| Q3 24 | 11.5% | 1.5% | ||
| Q2 24 | 17.6% | 3.2% | ||
| Q1 24 | 19.3% | 2.0% |
| Q4 25 | — | -1.72× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | -6.00× | ||
| Q2 24 | -0.56× | 0.29× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBLU
| Passenger | $2.1B | 91% |
| Other | $191.0M | 9% |
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
