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Side-by-side financial comparison of Frontier Group Holdings, Inc. (ULCC) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Frontier Group Holdings, Inc. is the larger business by last-quarter revenue ($997.0M vs $625.1M, roughly 1.6× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 5.3%, a 8.1% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs -0.5%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $-113.0M). Over the past eight quarters, Frontier Group Holdings, Inc.'s revenue compounded faster (7.4% CAGR vs 4.6%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
ULCC vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.0M | $625.1M |
| Net Profit | $53.0M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | 4.9% | 18.2% |
| Net Margin | 5.3% | 13.4% |
| Revenue YoY | -0.5% | 15.7% |
| Net Profit YoY | -1.9% | 24.0% |
| EPS (diluted) | $0.24 | $2.50 |
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 | $997.0M | $625.1M | ||
| Q3 25 | $886.0M | $611.7M | ||
| Q2 25 | $929.0M | $643.7M | ||
| Q1 25 | $912.0M | $558.0M | ||
| Q4 24 | $1.0B | $540.4M | ||
| Q3 24 | $935.0M | $543.6M | ||
| Q2 24 | $973.0M | $597.3M | ||
| Q1 24 | $865.0M | $570.9M |
| Q4 25 | $53.0M | $83.7M | ||
| Q3 25 | $-77.0M | $82.2M | ||
| Q2 25 | $-70.0M | $100.9M | ||
| Q1 25 | $-43.0M | $74.0M | ||
| Q4 24 | $54.0M | $67.5M | ||
| Q3 24 | $26.0M | $69.1M | ||
| Q2 24 | $31.0M | $82.0M | ||
| Q1 24 | $-26.0M | $72.6M |
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | 4.9% | 18.2% | ||
| Q3 25 | -8.7% | 18.2% | ||
| Q2 25 | -8.1% | 21.0% | ||
| Q1 25 | -5.0% | 15.7% | ||
| Q4 24 | 4.5% | 16.5% | ||
| Q3 24 | 2.0% | 17.1% | ||
| Q2 24 | 2.6% | 18.7% | ||
| Q1 24 | -3.6% | 16.9% |
| Q4 25 | 5.3% | 13.4% | ||
| Q3 25 | -8.7% | 13.4% | ||
| Q2 25 | -7.5% | 15.7% | ||
| Q1 25 | -4.7% | 13.3% | ||
| Q4 24 | 5.4% | 12.5% | ||
| Q3 24 | 2.8% | 12.7% | ||
| Q2 24 | 3.2% | 13.7% | ||
| Q1 24 | -3.0% | 12.7% |
| Q4 25 | $0.24 | $2.50 | ||
| Q3 25 | $-0.34 | $2.45 | ||
| Q2 25 | $-0.31 | $3.01 | ||
| Q1 25 | $-0.19 | $2.21 | ||
| Q4 24 | $0.24 | $2.02 | ||
| Q3 24 | $0.11 | $2.06 | ||
| Q2 24 | $0.14 | $2.44 | ||
| Q1 24 | $-0.12 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | $620.0M | — |
| Stockholders' EquityBook value | $491.0M | $2.0B |
| Total Assets | $7.2B | $2.9B |
| Debt / EquityLower = less leverage | 1.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $671.0M | $405.5M | ||
| Q3 25 | $566.0M | $457.7M | ||
| Q2 25 | $563.0M | $369.3M | ||
| Q1 25 | $686.0M | $336.8M | ||
| Q4 24 | $740.0M | $386.9M | ||
| Q3 24 | $576.0M | $303.9M | ||
| Q2 24 | $658.0M | $279.4M | ||
| Q1 24 | $622.0M | $237.1M |
| Q4 25 | $620.0M | — | ||
| Q3 25 | $673.0M | — | ||
| Q2 25 | $565.0M | — | ||
| Q1 25 | $512.0M | — | ||
| Q4 24 | $507.0M | — | ||
| Q3 24 | $474.0M | — | ||
| Q2 24 | $455.0M | — | ||
| Q1 24 | $469.0M | — |
| Q4 25 | $491.0M | $2.0B | ||
| Q3 25 | $434.0M | $2.0B | ||
| Q2 25 | $506.0M | $1.9B | ||
| Q1 25 | $570.0M | $1.8B | ||
| Q4 24 | $604.0M | $1.7B | ||
| Q3 24 | $549.0M | $1.7B | ||
| Q2 24 | $520.0M | $1.6B | ||
| Q1 24 | $484.0M | $1.6B |
| Q4 25 | $7.2B | $2.9B | ||
| Q3 25 | $6.7B | $2.7B | ||
| Q2 25 | $6.5B | $2.6B | ||
| Q1 25 | $6.5B | $2.5B | ||
| Q4 24 | $6.2B | $2.4B | ||
| Q3 24 | $5.8B | $2.4B | ||
| Q2 24 | $5.7B | $2.4B | ||
| Q1 24 | $5.2B | $2.3B |
| Q4 25 | 1.26× | — | ||
| Q3 25 | 1.55× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 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 | $-91.0M | $154.7M |
| Free Cash FlowOCF − Capex | $-113.0M | $140.3M |
| FCF MarginFCF / Revenue | -11.3% | 22.4% |
| Capex IntensityCapex / Revenue | 2.2% | 2.3% |
| Cash ConversionOCF / Net Profit | -1.72× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $-600.0M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-91.0M | $154.7M | ||
| Q3 25 | $-215.0M | $122.4M | ||
| Q2 25 | $-133.0M | $69.7M | ||
| Q1 25 | $-86.0M | $55.2M | ||
| Q4 24 | $87.0M | $139.5M | ||
| Q3 24 | $-156.0M | $90.7M | ||
| Q2 24 | $9.0M | $85.3M | ||
| Q1 24 | $-22.0M | $45.6M |
| Q4 25 | $-113.0M | $140.3M | ||
| Q3 25 | $-217.0M | $110.9M | ||
| Q2 25 | $-166.0M | $59.5M | ||
| Q1 25 | $-104.0M | $45.6M | ||
| Q4 24 | $73.0M | $127.5M | ||
| Q3 24 | $-170.0M | $84.3M | ||
| Q2 24 | $-22.0M | $78.5M | ||
| Q1 24 | $-39.0M | $35.5M |
| Q4 25 | -11.3% | 22.4% | ||
| Q3 25 | -24.5% | 18.1% | ||
| Q2 25 | -17.9% | 9.2% | ||
| Q1 25 | -11.4% | 8.2% | ||
| Q4 24 | 7.3% | 23.6% | ||
| Q3 24 | -18.2% | 15.5% | ||
| Q2 24 | -2.3% | 13.1% | ||
| Q1 24 | -4.5% | 6.2% |
| Q4 25 | 2.2% | 2.3% | ||
| Q3 25 | 0.2% | 1.9% | ||
| Q2 25 | 3.6% | 1.6% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 1.4% | 2.2% | ||
| Q3 24 | 1.5% | 1.2% | ||
| Q2 24 | 3.2% | 1.1% | ||
| Q1 24 | 2.0% | 1.8% |
| Q4 25 | -1.72× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.61× | 2.07× | ||
| Q3 24 | -6.00× | 1.31× | ||
| Q2 24 | 0.29× | 1.04× | ||
| Q1 24 | — | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
WTS
Segment breakdown not available.
