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SKYW

SkyWest, Inc.

SKYW

SkyWest, Inc. • NASDAQ
$101.52 ▲ 0.30% (+0.30)
Market Cap $4.10 B
52w High $135.57
52w Low $74.70
Dividend Yield 0%
P/E 9.7
Volume 140.90K
Outstanding Shares 40.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.05B ▲ $77.708M ▼ $116.358M ▼ 11.081% ▼ $2.88 ▼ $275.254M ▼
Q2-2025 $1.035B ▲ $91.246M ▲ $120.269M ▲ 11.618% ▲ $2.98 ▲ $279.832M ▲
Q1-2025 $948.455M ▲ $80.91M ▲ $100.551M ▲ 10.602% ▲ $2.48 ▲ $183.046M ▼
Q4-2024 $944.402M ▲ $74.695M ▼ $97.377M ▲ 10.311% ▲ $2.42 ▲ $255.877M ▲
Q3-2024 $912.786M $175.559M $89.709M 9.828% $2.23 $228.097M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $753.359M ▲ $7.214B ▲ $4.536B ▼ $2.678B ▲
Q2-2025 $727.021M ▼ $7.174B ▲ $4.592B ▼ $2.582B ▲
Q1-2025 $750.884M ▼ $7.114B ▼ $4.64B ▼ $2.474B ▲
Q4-2024 $801.628M ▼ $7.14B ▲ $4.731B ▲ $2.409B ▲
Q3-2024 $836.042M $6.957B $4.645B $2.311B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 $0 ▼ $0 ▲ $0 ▲ $0 ▲ $0 ▼
Q2-2025 $0 $257.06M ▲ $-306.549M ▼ $-81.154M ▲ $-130.643M ▼ $62.614M ▼
Q1-2025 $0 $171.023M ▼ $-66.109M ▲ $-153.303M ▼ $-48.389M ▼ $92.573M ▲
Q4-2024 $0 ▼ $185.897M ▲ $-109.626M ▼ $-26.518M ▲ $49.753M ▲ $11.178M ▼
Q3-2024 $89.709M $183.603M $-43.008M $-104.746M $35.849M $87.051M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Airport customer service and other revenue
Airport customer service and other revenue
 $20.00M ▲$10.00M ▼$20.00M ▲$10.00M ▼
Flying agreements
Flying agreements
 $1.69Bn ▲$920.00M ▼$990.00M ▲$1.01Bn ▲
Lease airport services and other
Lease airport services and other
 $60.00M ▲$30.00M ▼$50.00M ▲$40.00M ▼

Five-Year Company Overview

Income Statement

Income Statement SkyWest’s income statement shows a company that has moved from pandemic‑era weakness to solid profitability. Revenue has climbed steadily over the last five years, and profit margins have improved from barely breaking even to clearly positive. Operating income has swung from losses earlier in the period to healthy profits more recently, and net income has risen meaningfully, indicating better cost control and higher utilization of its fleet. The very sharp jump in earnings per share in the most recent year suggests one‑off factors or a smaller share count may be amplifying the recovery, so investors should treat that spike as potentially less repeatable than the underlying trend. Overall, the direction is positive: higher revenue, better margins, and a clear turnaround from earlier losses.

Balance Sheet

Balance Sheet The balance sheet looks relatively stable and gradually strengthening. Total assets have been fairly steady, reflecting a mature, capital‑intensive business with a large aircraft base. Debt levels, while still significant, have been edging down from earlier peaks, which eases financial risk and interest burden. Shareholders’ equity has trended upward, signaling the business has been rebuilding its capital base and retaining earnings. Cash on hand is modest relative to total assets, which is normal for an airline but means liquidity depends heavily on ongoing cash generation and access to financing. Overall, the company appears to be slowly deleveraging and improving its financial foundation, though it still carries the typical leverage of an airline operator.

Cash Flow

Cash Flow Cash flow is a clear strength. SkyWest has consistently generated solid cash from its operations over the past five years, even in tougher periods. This steady inflow has funded heavy investment in aircraft and related equipment, which shows up as sizable capital spending. Free cash flow has been positive in most years, with one notable dip when investment outpaced operating cash – a sign of a reinvestment phase rather than a structural problem. Recently, free cash flow has been comfortably positive again, indicating that the company is now enjoying both strong operations and more balanced capital spending. This pattern supports the view that SkyWest can fund fleet renewal and technology upgrades mostly from internal cash, reducing pressure to take on new debt.

Competitive Edge

Competitive Edge SkyWest’s competitive position is anchored in its role as a contract regional airline for the major U.S. carriers. Its capacity purchase agreements mean the big airlines handle ticket sales, pricing, and fuel risk, while SkyWest is paid fixed fees to operate flights. This model tends to smooth out revenue and protect margins from swings in travel demand and fuel prices, giving SkyWest a more stable profile than traditional airlines. As one of the largest regional operators, it benefits from scale, cost efficiencies, and deep, long‑standing relationships with partners like Delta, United, American, and Alaska. At the same time, it is highly dependent on these partners’ strategies and contract renewals, and it faces industry‑wide challenges such as pilot shortages and wage pressure. Overall, SkyWest combines a strong niche position and relative earnings stability with meaningful reliance on a small number of powerful counterparties.

Innovation and R&D

Innovation and R&D Innovation at SkyWest is mostly operational and strategic rather than consumer‑facing. The company is upgrading its core systems through a partnership with CAE, adopting next‑generation software for flight and crew management, which should improve scheduling, on‑time performance, and cost efficiency. It is pursuing broader digital transformation using data, automation, and early artificial‑intelligence tools to streamline operations and maintenance, which can reduce delays and unplanned downtime. On the fleet side, SkyWest is focusing on more efficient regional jets and has taken an early stake in a developer of hybrid‑electric regional aircraft, securing potential launch customer rights. That move is long‑term and carries technological and regulatory uncertainty, but it positions the company to benefit if cleaner aircraft become viable at scale. Expansion into charter services and aircraft leasing adds incremental innovation on the business‑model side, diversifying revenue beyond its traditional contracts.

Summary

SkyWest today looks like a regional airline that has successfully transitioned from crisis management during the pandemic to a more solid, profit‑generating footing. Its income statement shows a marked shift from narrow margins and occasional losses to healthier profitability, while the balance sheet reflects gradual deleveraging and rebuilding of equity. Strong and steady operating cash flow underpins the business and funds ongoing fleet and technology investments. Competitively, SkyWest’s fixed‑fee contract model and scale provide a degree of earnings stability uncommon in aviation, though dependence on a handful of large airline partners and exposure to labor constraints remain key structural risks. The company’s focus on digital operations, more efficient aircraft, and selective bets on emerging technologies and new revenue streams suggests it is not standing still. Overall, SkyWest appears to be a more resilient, better‑positioned regional airline than it was a few years ago, albeit still tied to the cyclical and highly regulated nature of the airline industry.

NEWS

October 30, 2025 · 4:01 PM UTC

SkyWest, Inc. Announces Third Quarter 2025 Profit

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October 9, 2025 · 4:01 PM UTC

SkyWest, Inc. Announces Third Quarter 2025 Results Call Date

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September 15, 2025 · 9:00 AM UTC

SkyWest Signs Strategic Investment Agreement with Maeve Aerospace

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