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Side-by-side financial comparison of SKYWEST INC (SKYW) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
SKYWEST INC is the larger business by last-quarter revenue ($1.0B vs $997.0M, roughly 1.0× Frontier Group Holdings, Inc.). SKYWEST INC runs the higher net margin — 10.0% vs 5.3%, a 4.7% gap on every dollar of revenue. On growth, SKYWEST INC posted the faster year-over-year revenue change (6.8% vs -0.5%). Over the past eight quarters, SKYWEST INC's revenue compounded faster (8.1% CAGR vs 7.4%).
SkyWest, Inc. is the holding company for SkyWest Airlines, a North American regional airline, as well as an aircraft leasing company. It is headquartered in St. George, Utah, United States.
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.
SKYW vs ULCC — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $997.0M |
| Net Profit | $101.7M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | 12.2% | 4.9% |
| Net Margin | 10.0% | 5.3% |
| Revenue YoY | 6.8% | -0.5% |
| Net Profit YoY | 1.1% | -1.9% |
| EPS (diluted) | $2.50 | $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.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $997.0M | ||
| Q3 25 | $1.1B | $886.0M | ||
| Q2 25 | $1.0B | $929.0M | ||
| Q1 25 | $948.5M | $912.0M | ||
| Q4 24 | $944.4M | $1.0B | ||
| Q3 24 | $912.8M | $935.0M | ||
| Q2 24 | $867.1M | $973.0M |
| Q1 26 | $101.7M | — | ||
| Q4 25 | $91.2M | $53.0M | ||
| Q3 25 | $116.4M | $-77.0M | ||
| Q2 25 | $120.3M | $-70.0M | ||
| Q1 25 | $100.6M | $-43.0M | ||
| Q4 24 | $97.4M | $54.0M | ||
| Q3 24 | $89.7M | $26.0M | ||
| Q2 24 | $75.6M | $31.0M |
| Q1 26 | 12.2% | — | ||
| Q4 25 | 13.1% | 4.9% | ||
| Q3 25 | 16.6% | -8.7% | ||
| Q2 25 | 16.4% | -8.1% | ||
| Q1 25 | 14.7% | -5.0% | ||
| Q4 24 | 15.3% | 4.5% | ||
| Q3 24 | 14.4% | 2.0% | ||
| Q2 24 | 13.8% | 2.6% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 8.9% | 5.3% | ||
| Q3 25 | 11.1% | -8.7% | ||
| Q2 25 | 11.6% | -7.5% | ||
| Q1 25 | 10.6% | -4.7% | ||
| Q4 24 | 10.3% | 5.4% | ||
| Q3 24 | 9.8% | 2.8% | ||
| Q2 24 | 8.7% | 3.2% |
| Q1 26 | $2.50 | — | ||
| Q4 25 | $2.21 | $0.24 | ||
| Q3 25 | $2.81 | $-0.34 | ||
| Q2 25 | $2.91 | $-0.31 | ||
| Q1 25 | $2.42 | $-0.19 | ||
| Q4 24 | $2.34 | $0.24 | ||
| Q3 24 | $2.16 | $0.11 | ||
| Q2 24 | $1.82 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $671.0M |
| Total DebtLower is stronger | $1.8B | $620.0M |
| Stockholders' EquityBook value | $2.7B | $491.0M |
| Total Assets | $7.3B | $7.2B |
| Debt / EquityLower = less leverage | 0.66× | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $122.7M | $671.0M | ||
| Q3 25 | $44.5M | $566.0M | ||
| Q2 25 | $48.3M | $563.0M | ||
| Q1 25 | $179.0M | $686.0M | ||
| Q4 24 | $227.4M | $740.0M | ||
| Q3 24 | $177.6M | $576.0M | ||
| Q2 24 | $141.8M | $658.0M |
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $620.0M | ||
| Q3 25 | $2.4B | $673.0M | ||
| Q2 25 | $2.5B | $565.0M | ||
| Q1 25 | $2.6B | $512.0M | ||
| Q4 24 | $2.7B | $507.0M | ||
| Q3 24 | $2.7B | $474.0M | ||
| Q2 24 | $2.8B | $455.0M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $491.0M | ||
| Q3 25 | $2.7B | $434.0M | ||
| Q2 25 | $2.6B | $506.0M | ||
| Q1 25 | $2.5B | $570.0M | ||
| Q4 24 | $2.4B | $604.0M | ||
| Q3 24 | $2.3B | $549.0M | ||
| Q2 24 | $2.2B | $520.0M |
| Q1 26 | $7.3B | — | ||
| Q4 25 | $7.4B | $7.2B | ||
| Q3 25 | $7.2B | $6.7B | ||
| Q2 25 | $7.2B | $6.5B | ||
| Q1 25 | $7.1B | $6.5B | ||
| Q4 24 | $7.1B | $6.2B | ||
| Q3 24 | $7.0B | $5.8B | ||
| Q2 24 | $7.0B | $5.7B |
| Q1 26 | 0.66× | — | ||
| Q4 25 | — | 1.26× | ||
| Q3 25 | 0.89× | 1.55× | ||
| Q2 25 | 0.97× | 1.12× | ||
| Q1 25 | 1.03× | 0.90× | ||
| Q4 24 | 1.11× | 0.84× | ||
| Q3 24 | 1.17× | 0.86× | ||
| Q2 24 | 1.25× | 0.88× |
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 | — | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $231.5M | $-91.0M | ||
| Q3 25 | $280.8M | $-215.0M | ||
| Q2 25 | $257.1M | $-133.0M | ||
| Q1 25 | $171.0M | $-86.0M | ||
| Q4 24 | $185.9M | $87.0M | ||
| Q3 24 | $183.6M | $-156.0M | ||
| Q2 24 | $165.3M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | $224.3M | $-113.0M | ||
| Q3 25 | $269.9M | $-217.0M | ||
| Q2 25 | $251.5M | $-166.0M | ||
| Q1 25 | $162.6M | $-104.0M | ||
| Q4 24 | $162.7M | $73.0M | ||
| Q3 24 | $172.1M | $-170.0M | ||
| Q2 24 | $159.4M | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | 21.9% | -11.3% | ||
| Q3 25 | 25.7% | -24.5% | ||
| Q2 25 | 24.3% | -17.9% | ||
| Q1 25 | 17.1% | -11.4% | ||
| Q4 24 | 17.2% | 7.3% | ||
| Q3 24 | 18.9% | -18.2% | ||
| Q2 24 | 18.4% | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 2.2% | ||
| Q3 25 | 1.0% | 0.2% | ||
| Q2 25 | 0.5% | 3.6% | ||
| Q1 25 | 0.9% | 2.0% | ||
| Q4 24 | 2.5% | 1.4% | ||
| Q3 24 | 1.3% | 1.5% | ||
| Q2 24 | 0.7% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.54× | -1.72× | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | 2.14× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.91× | 1.61× | ||
| Q3 24 | 2.05× | -6.00× | ||
| Q2 24 | 2.19× | 0.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
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% |
