NASDAQ : SKYW
SkyWest, Inc. — Financial statements
Industrials · Airlines · United States
Last price 96.54 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.75B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
SkyWest, Inc. (SKYW) reported revenue of 4.26B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.26B | 4.06B | 3.53B | 2.94B | 3.00B | 2.71B |
| Cost of Revenue | 2.96B | 2.75B | 2.35B | 2.15B | 2.11B | 2.08B |
| Gross Profit | 1.29B | 1.31B | 1.18B | 780.81M | 893.86M | 633.92M |
| Other Operating Expenses | 352.79M | 330.77M | 303.72M | 291.31M | 266.76M | 255.93M |
| Operating Expenses | 704.21M | 695.26M | 687.60M | 674.42M | 661.31M | 696.13M |
| Operating Income | 589.74M | 617.85M | 490.50M | 106.39M | 232.55M | -62.21M |
| Interest Expense | -99.18M | -104.44M | -114.34M | -130.93M | -127.08M | -123.12M |
| Interest & Investment Income | 37.10M | 43.33M | 47.96M | 43.93M | 17.61M | 1.11M |
| Earnings From Equity Investments | 2.20M | 2.20M | 2.30M | |||
| Other Non Operating Income (Expenses) | -4.45M | 287.00K | 135.00K | 9.43M | 1.57M | -7.83M |
| EBT Excluding Unusual Items | 525.42M | 559.21M | 426.56M | 28.81M | 124.64M | -192.05M |
| Gain (Loss) on Sale of Investments | -2.80M | -1.70M | -6.82M | -479.00K | 11.38M | |
| Gain (Loss) on Sale of Assets | 8.08M | 8.08M | 8.24M | 14.29M | 7.95M | 4.59M |
| Asset Writedown | 4.16M | -2.32M | -51.38M | -84.59M | ||
| Other Unusual Items | 422.67M | |||||
| Pretax Income | 530.70M | 565.59M | 432.14M | 40.31M | 92.58M | 150.61M |
| Income Tax Expense | 117.63M | 137.26M | 109.18M | 5.97M | 19.63M | 38.70M |
| Net Income | 413.07M | 428.33M | 322.96M | 34.34M | 72.95M | 111.91M |
| Net Income to Common | 413.07M | 428.33M | 322.96M | 34.34M | 72.95M | 111.91M |
| Shares Outstanding (Basic) | 39.51M | 40.31M | 40.26M | 43.94M | 50.55M | 50.35M |
| Shares Outstanding (Diluted) | 40.09M | 41.40M | 41.55M | 44.60M | 50.64M | 50.75M |
| EPS (Basic) | 10.45 | 10.62 | 8.02 | 0.78 | 1.44 | 2.22 |
| EPS (Diluted) | 10.30 | 10.35 | 7.77 | 0.77 | 1.44 | 2.20 |
| Free Cash Flow | 125.11M | 287.00M | 364.18M | 420.01M | -202.22M | 150.42M |
| Free Cash Flow Per Share | 3.12 | 6.93 | 8.77 | 9.42 | -3.99 | 2.96 |
| Gross Margin | 30.39% | 32.36% | 33.39% | 26.60% | 29.75% | 23.36% |
| Operating Margin | 13.85% | 15.22% | 13.90% | 3.62% | 7.74% | -2.29% |
| Profit Margin | 9.70% | 10.55% | 9.15% | 1.17% | 2.43% | 4.12% |
| Free Cash Flow Margin | 2.94% | 7.07% | 10.32% | 14.31% | -6.73% | 5.54% |
| EBITDA | 941.16M | 982.34M | 874.38M | 489.50M | 627.10M | 377.99M |
| EBITDA Margin | 22.11% | 24.21% | 24.79% | 16.68% | 20.87% | 13.93% |
| D&A For EBITDA | 351.42M | 364.50M | 383.88M | 383.12M | 394.55M | 440.20M |
| EBIT | 589.74M | 617.85M | 490.50M | 106.39M | 232.55M | -62.21M |
| EBIT Margin | 13.85% | 15.22% | 13.90% | 3.62% | 7.74% | -2.29% |
| Effective Tax Rate | 22.17% | 24.27% | 25.26% | 14.80% | 21.20% | 25.70% |
| Revenue as Reported | 4.26B | 4.06B | 3.53B | 2.94B | 3.00B | 2.71B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 71.75M | 122.67M | 227.36M | 148.28M | 102.98M | 258.42M |
| Short-Term Investments | 497.18M | 584.24M | 574.27M | 686.95M | 944.23M | 601.99M |
| Cash & Short-Term Investments | 568.93M | 706.91M | 801.63M | 835.22M | 1.05B | 860.41M |
| Accounts Receivable | 184.07M | 160.94M | 123.91M | 84.05M | 110.42M | 65.35M |
| Receivables | 184.07M | 160.94M | 123.91M | 84.05M | 110.42M | 65.35M |
| Inventory | 205.06M | 168.55M | 139.00M | 127.11M | 123.21M | 104.09M |
| Other Current Assets | 52.56M | 54.80M | 52.53M | 85.50M | 90.43M | 38.74M |
| Total Current Assets | 1.01B | 1.09B | 1.12B | 1.13B | 1.37B | 1.07B |
| Property, Plant & Equipment | 6.05B | 5.82B | 5.61B | 5.49B | 5.68B | 5.61B |
| Long-Term Investments | 11.50M | 39.90M | 32.10M | 15.40M | ||
| Long-Term Accounts Receivable | 31.27M | 26.66M | 14.03M | 6.10M | 10.00M | |
| Other Long-Term Assets | 384.22M | 403.58M | 367.14M | 380.49M | 356.80M | 445.20M |
| Total Assets | 7.51B | 7.39B | 7.14B | 7.03B | 7.41B | 7.13B |
| Accounts Payable | 711.96M | 633.63M | 527.35M | 470.25M | 422.00M | 496.33M |
| Accrued Expenses | 260.65M | 263.65M | 249.35M | 220.96M | 206.76M | 179.45M |
| Current Portion of Long-Term Debt | 645.91M | 546.81M | 535.59M | 443.87M | 438.50M | 391.80M |
| Current Portion of Leases | 22.02M | 19.63M | 20.47M | 19.34M | 71.73M | 78.89M |
| Current Unearned Revenue | 78.94M | 163.89M | 54.79M | 61.00M | 5.20M | 24.50M |
| Other Current Liabilities | 35.52M | 39.99M | 42.04M | 38.88M | 28.35M | 23.65M |
| Total Current Liabilities | 1.75B | 1.67B | 1.43B | 1.25B | 1.17B | 1.19B |
| Long-Term Debt | 1.72B | 1.85B | 2.14B | 2.56B | 2.94B | 2.72B |
| Long-Term Leases | 62.12M | 62.31M | 67.26M | 67.39M | 88.62M | 158.27M |
| Long-Term Unearned Revenue | 145.79M | 128.51M | 282.75M | 313.60M | 139.50M | 79.40M |
| Long-Term Deferred Tax Liabilities | 993.44M | 910.73M | 787.97M | 687.60M | 687.06M | 663.24M |
| Other Long-Term Liabilities | 23.35M | 25.38M | 26.73M | 27.72M | 37.42M | 45.48M |
| Total Liabilities | 4.70B | 4.64B | 4.73B | 4.91B | 5.07B | 4.86B |
| Common Stock | 813.34M | 798.47M | 777.09M | 754.36M | 734.43M | 722.31M |
| Retained Earnings | 3.34B | 3.02B | 2.59B | 2.27B | 2.24B | 2.16B |
| Treasury Stock | -1.35B | -1.07B | -962.65M | -912.40M | -619.86M | -618.71M |
| Comprehensive Income & Other | -866.00K | 278.00K | 168.00K | 325.00K | -3.80M | |
| Shareholders' Equity | 2.81B | 2.75B | 2.41B | 2.11B | 2.35B | 2.27B |
| Total Liabilities & Equity | 7.51B | 7.39B | 7.14B | 7.03B | 7.41B | 7.13B |
| Total Debt | 2.45B | 2.47B | 2.76B | 3.09B | 3.54B | 3.35B |
| Net Cash (Debt) | -1.88B | -1.77B | -1.96B | -2.26B | -2.49B | -2.49B |
| Net Cash Per Share | -46.89 | -42.68 | -47.14 | -50.62 | -49.23 | -48.98 |
| Filing Date Shares Outstanding | 38.03M | 40.41M | 40.33M | 40.23M | 50.44M | 50.52M |
| Total Common Shares Outstanding | 38.21M | 39.87M | 40.33M | 40.23M | 50.60M | 50.38M |
| Working Capital | -744.38M | -576.41M | -312.52M | -122.40M | 198.74M | -126.03M |
| Book Value Per Share | 73.54 | 68.88 | 59.73 | 52.54 | 46.40 | 45.01 |
| Tangible Book Value | 2.81B | 2.75B | 2.41B | 2.11B | 2.35B | 2.27B |
| Tangible Book Value Per Share | 73.54 | 68.88 | 59.73 | 52.54 | 46.40 | 45.01 |
| Buildings | 346.11M | 328.40M | 292.68M | 282.40M | 265.02M | 256.60M |
| Machinery | 9.75B | 9.30B | 8.77B | 8.32B | 8.14B | 7.85B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 413.07M | 428.33M | 322.96M | 34.34M | 72.95M | 111.91M |
| Depreciation & Amortization | 351.42M | 364.50M | 383.88M | 383.12M | 394.55M | 440.20M |
| Loss (Gain) From Sale of Assets | -8.08M | -8.08M | -12.40M | -11.98M | 43.44M | -4.59M |
| Asset Writedown & Restructuring Costs | 84.59M | |||||
| Loss (Gain) From Sale of Investments | 1.05M | 1.05M | 6.82M | 479.00K | -11.38M | |
| Stock-Based Compensation | 18.73M | 18.73M | 19.86M | 17.12M | 9.16M | 8.69M |
| Provision & Write-off of Bad Debts | 7.52M | 7.52M | -3.63M | -185.00K | -4.59M | -4.25M |
| Other Operating Activities | 9.86M | 122.76M | 100.37M | 539.00K | 23.82M | 37.30M |
| Change in Accounts Receivable | -66.25M | -66.25M | -49.04M | 32.42M | -44.45M | -38.50M |
| Change in Inventory | -29.55M | -29.55M | -11.89M | -3.90M | -16.63M | -12.90M |
| Change in Accounts Payable | 152.08M | 152.08M | -3.14M | 80.96M | -42.03M | 231.18M |
| Change in Unearned Revenue | -48.47M | -48.47M | -40.01M | 229.86M | 40.81M | -6.83M |
| Change in Income Taxes | -2.25M | -2.25M | -7.50M | 997.00K | 7.82M | -5.57M |
| Change in Other Net Operating Assets | -21.00K | -21.00K | -13.81M | -27.44M | 6.91M | -9.42M |
| Operating Cash Flow | 799.12M | 940.36M | 692.46M | 736.33M | 480.38M | 831.82M |
| Capital Expenditures | -674.01M | -653.37M | -328.28M | -316.33M | -682.59M | -681.40M |
| Sale of Property, Plant & Equipment | 10.61M | 15.59M | 5.15M | 15.88M | 16.98M | 7.12M |
| Investment in Securities | 210.45M | -9.86M | 112.52M | 261.41M | -377.67M | 8.20M |
| Other Investing Activities | 666.00K | -4.20M | -18.02M | 15.81M | 138.38M | -32.43M |
| Investing Cash Flow | -452.30M | -651.83M | -228.63M | -23.23M | -904.89M | -698.52M |
| Long-Term Debt Issued | 208.84M | 116.17M | 69.69M | 684.50M | 450.03M | |
| Long-Term Debt Repaid | -491.90M | -452.86M | -447.60M | -415.05M | -540.54M | |
| Net Debt Issued (Repaid) | -21.91M | -283.06M | -336.69M | -377.92M | 269.45M | -90.50M |
| Issuance of Common Stock | 2.82M | 2.65M | 2.86M | 2.81M | 2.96M | 3.15M |
| Repurchase of Common Stock | -299.15M | -112.17M | -50.25M | -292.53M | -1.15M | -1.58M |
| Other Financing Activities | -1.36M | -634.00K | -670.00K | -175.00K | -2.18M | -1.67M |
| Financing Cash Flow | -319.60M | -393.22M | -384.75M | -667.81M | 269.08M | -90.60M |
| Net Cash Flow | 27.22M | -104.69M | 79.08M | 45.29M | -155.44M | 42.70M |
| Free Cash Flow | 125.11M | 287.00M | 364.18M | 420.01M | -202.22M | 150.42M |
| Free Cash Flow Margin | 2.94% | 7.07% | 10.32% | 14.31% | -6.73% | 5.54% |
| Free Cash Flow Per Share | 3.12 | 6.93 | 8.77 | 9.42 | -3.99 | 2.96 |
| Levered Free Cash Flow | -21.55M | 209.52M | 374.24M | 224.74M | -390.47M | -132.63M |
| Unlevered Free Cash Flow | 40.44M | 274.80M | 445.70M | 306.57M | -311.04M | -55.68M |
| Cash Interest Paid | 103.58M | 105.88M | 113.57M | 128.29M | 125.32M | 124.92M |
| Cash Income Tax Paid | 8.16M | 16.86M | 18.59M | 13.61M | 1.17M | 6.59M |
| Change in Working Capital | 5.55M | 5.55M | -125.40M | 312.90M | -47.58M | 157.97M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.13B | 4.03B | 4.04B | 2.14B | 835.38M | 1.98B |
| Enterprise Value | 5.01B | 5.74B | 5.98B | 4.48B | 3.43B | 4.28B |
| Last Close Price | 82.33 | 100.41 | 100.13 | 52.20 | 16.51 | 39.30 |
| PE Ratio | 7.99 | 9.40 | 12.50 | 62.23 | 11.45 | 17.69 |
| Forward PE | 7.77 | 9.23 | 11.82 | 11.71 | 27.18 | 15.72 |
| PS Ratio | 0.74 | 0.99 | 1.15 | 0.73 | 0.28 | 0.73 |
| PB Ratio | 1.12 | 1.47 | 1.68 | 1.01 | 0.36 | 0.87 |
| P/TBV Ratio | 1.11 | 1.47 | 1.68 | 1.01 | 0.36 | 0.87 |
| P/FCF Ratio | 25.03 | 14.03 | 11.09 | 5.09 | 13.16 | |
| P/OCF Ratio | 3.92 | 4.28 | 5.83 | 2.90 | 1.74 | 2.38 |
| PEG Ratio | 1.19 | 0.70 | 0.09 | 0.19 | 2.07 | 2.07 |
| EV/Sales Ratio | 1.18 | 1.42 | 1.70 | 1.53 | 1.14 | 1.58 |
| EV/EBITDA Ratio | 5.32 | 5.85 | 6.84 | 9.15 | 5.48 | 11.33 |
| EV/EBIT Ratio | 8.50 | 9.29 | 12.19 | 42.11 | 14.77 | |
| EV/FCF Ratio | 40.06 | 20.01 | 16.42 | 10.67 | 28.47 | |
| Debt / Equity Ratio | 0.87 | 0.90 | 1.15 | 1.46 | 1.51 | 1.48 |
| Debt / EBITDA Ratio | 2.49 | 2.43 | 3.07 | 5.78 | 4.45 | 7.18 |
| Debt / FCF Ratio | 19.57 | 8.62 | 7.58 | 7.36 | 22.25 | |
| Net Debt / Equity Ratio | 0.67 | 0.64 | 0.81 | 1.07 | 1.06 | 1.10 |
| Net Debt / EBITDA Ratio | 2.00 | 1.80 | 2.24 | 4.61 | 3.98 | 6.58 |
| Net Debt / FCF Ratio | 15.03 | 6.16 | 5.38 | 5.38 | -12.33 | 16.53 |
| Asset Turnover | 0.58 | 0.56 | 0.50 | 0.41 | 0.41 | 0.39 |
| Inventory Turnover | 16.46 | 17.85 | 17.66 | 17.21 | 18.57 | 21.30 |
| Quick Ratio | 0.43 | 0.52 | 0.65 | 0.73 | 0.99 | 0.78 |
| Current Ratio | 0.58 | 0.65 | 0.78 | 0.90 | 1.17 | 0.90 |
| Return on Equity (ROE) | 15.05% | 16.62% | 14.28% | 1.54% | 3.16% | 5.08% |
| Return on Assets (ROA) | 5.01% | 5.32% | 4.33% | 0.92% | 2.00% | -0.56% |
| Return on Invested Capital (ROIC) | 9.94% | 10.54% | 8.39% | 1.97% | 3.82% | -0.97% |
| Return on Capital Employed (ROCE) | 10.20% | 10.80% | 8.60% | 1.80% | 3.70% | -1.00% |
| Earnings Yield | 12.52% | 10.64% | 8.00% | 1.61% | 8.73% | 5.65% |
| FCF Yield | 4.00% | 7.13% | 9.02% | 19.65% | -24.21% | 7.60% |
| Buyback Yield / Dilution | 3.41% | 0.35% | 6.84% | 11.94% | 0.21% | -1.11% |
| Total Shareholder Return | 3.41% | 0.35% | 6.84% | 11.94% | 0.21% | -1.11% |