Spirit Aviation Holdings, Inc. (FLYY) 10-Year Financial Performance & Capital Metrics

FLYY • • Industrial / General

IndustrialsAirlines & AirportsLow-Cost & Ultra-Low-Cost CarriersUS Low-Cost Carriers

AboutSpirit Aviation Holdings, Inc. engages in providing passenger air transportation services. The company serves destinations throughout the United States, Latin America and the Caribbean with its all-Airbus Fit Fleet. The company was founded in 1964 and is based in Dania Beach, Florida.Show more

Revenue $4.91B -8.4%
EBITDA -$780M -346.1%
Net Income -$1.23B -174.8%
EPS (Diluted) -11.23 -174.6%
Gross Margin 4.26% -61.4%
EBITDA Margin -15.88% -386.8%
Operating Margin -22.5% -143.3%
Net Margin -25.02% -199.9%
ROE -233.25% -605.3%
ROIC -12.72% -133.3%
Debt/Equity -
Interest Coverage -5.92 -46.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.79%

5Y5.11%

3Y15%

TTM-11.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-174.11%

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg4.38%

5Y Avg-7.47%

3Y Avg-9.58%

Latest-14.2%

Peer Comparison

US Low-Cost Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LUVSouthwest Airlines Co.	22.29B	43.10	57.47	5.34%	1.38%	4.87%		0.78
SNCYSun Country Airlines Holdings, Inc.	925.67M	17.56	18.29	2.49%	5.25%	9.52%	12.7%	1.09
ULCCFrontier Group Holdings, Inc.	1.16B	5.08	13.37	5.18%	-3.65%	-31.34%		7.40
FLYYSpirit Aviation Holdings, Inc.		0.38	-0.03	-8.38%	-28.55%	-277.97%
JBLUJetBlue Airways Corporation	1.81B	4.98	-2.17	-3.49%	-5.16%	-20.66%		3.46
ALGTAllegiant Travel Company	1.63B	88.87	-6.59	0.11%	-11.36%	-28.84%	2.35%	1.97

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.14B	2.32B	2.64B	3.32B	3.83B	1.81B	3.23B	5.07B	5.36B	4.91B
Revenue Growth %	0.11%	0.08%	0.14%	0.26%	0.15%	-0.53%	0.78%	0.57%	0.06%	-0.08%
Cost of Goods Sold+	1.34B	1.47B	1.78B	2.36B	2.67B	2.18B	3B	4.31B	4.77B	4.7B
COGS % of Revenue	0.62%	0.63%	0.67%	0.71%	0.7%	1.2%	0.93%	0.85%	0.89%	0.96%
Gross Profit+	805.54M	846.92M	862.91M	965.95M	1.16B	-368.01M	232.06M	756.65M	590.87M	209.21M
Gross Margin %	0.38%	0.37%	0.33%	0.29%	0.3%	-0.2%	0.07%	0.15%	0.11%	0.04%
Gross Profit Growth %	0.38%	0.05%	0.02%	0.12%	0.21%	-1.32%	1.63%	2.26%	-0.22%	-0.65%
Operating Expenses+	296.42M	405.46M	478.09M	615.04M	663.27M	139.75M	288.93M	1.36B	1.09B	1.31B
OpEx % of Revenue	0.14%	0.17%	0.18%	0.19%	0.17%	0.08%	0.09%	0.27%	0.2%	0.27%
Selling, General & Admin	86.58M	96.89M	113.47M	137M	153.77M	85.06M	132.5M	177.56M	190.89M	197.2M
SG&A % of Revenue	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.04%	0.04%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	209.85M	308.57M	364.62M	478.04M	509.5M	54.69M	156.43M	1.18B	895.74M	1.12B
Operating Income+	509.12M	441.46M	384.82M	350.91M	501.05M	-507.76M	-56.87M	-598.92M	-495.76M	-1.11B
Operating Margin %	0.24%	0.19%	0.15%	0.11%	0.13%	-0.28%	-0.02%	-0.12%	-0.09%	-0.22%
Operating Income Growth %	0.43%	-0.13%	-0.13%	-0.09%	0.43%	-2.01%	0.89%	-9.53%	0.17%	-1.23%
EBITDA+	583.03M	542.59M	524.98M	527.64M	726.31M	-229.17M	240.34M	-285.83M	-174.88M	-780.11M
EBITDA Margin %	0.27%	0.23%	0.2%	0.16%	0.19%	-0.13%	0.07%	-0.06%	-0.03%	-0.16%
EBITDA Growth %	0.45%	-0.07%	-0.03%	0.01%	0.38%	-1.32%	2.05%	-2.19%	0.39%	-3.46%
D&A (Non-Cash Add-back)	73.91M	101.14M	140.15M	176.73M	225.26M	278.59M	297.21M	313.09M	320.87M	325.27M
EBIT	511.23M	446.21M	393.19M	278.91M	525.3M	-501.66M	-399.23M	-599.95M	-436.09M	-1.1B
Net Interest Income+	-6.7M	-23.67M	-34.77M	-54.83M	-63.75M	-112.21M	-131.24M	-97M	-74.18M	-152.68M
Interest Income	2.13M	5.28M	8.74M	19.11M	25.13M	6.31M	5.37M	20.15M	65.42M	48.32M
Interest Expense	8.83M	28.95M	43.51M	73.94M	88.88M	118.53M	121.09M	100.79M	122.5M	186.57M
Other Income/Expense	-6.72M	-24.2M	-35.14M	-145.94M	-64.62M	-112.42M	-463.45M	-101.82M	-62.84M	-184.32M
Pretax Income+	502.4M	417.26M	349.69M	204.98M	436.43M	-620.18M	-520.32M	-700.74M	-558.6M	-1.29B
Pretax Margin %	0.23%	0.18%	0.13%	0.06%	0.11%	-0.34%	-0.16%	-0.14%	-0.1%	-0.26%
Income Tax+	185.18M	153.77M	-65.84M	49.23M	101.17M	-191.48M	-47.75M	-146.59M	-111.13M	-60.21M
Effective Tax Rate %	0.63%	0.63%	1.19%	0.76%	0.77%	0.69%	0.91%	0.79%	0.8%	0.95%
Net Income+	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Net Margin %	0.15%	0.11%	0.16%	0.05%	0.09%	-0.24%	-0.15%	-0.11%	-0.08%	-0.25%
Net Income Growth %	0.41%	-0.17%	0.58%	-0.63%	1.15%	-2.28%	-0.1%	-0.17%	0.19%	-1.75%
Net Income (Continuing)	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.00	0.00	0.00	0.00	0.00	-3.92	-4.32	-5.06	-4.09	-11.23
EPS Growth %	-	-	-	-	-	-	-0.1%	-0.17%	0.19%	-1.75%
EPS (Basic)	0.00	0.00	0.00	0.00	0.00	-3.92	-4.32	-5.06	-4.09	-11.23
Diluted Shares Outstanding	0	0	0	0	0	109.5M	109.5M	109.5M	109.5M	109.5M
Basic Shares Outstanding	0	0	0	0	0	109.5M	109.5M	109.5M	109.5M	109.5M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.03B	975.85M	1.28B	1.35B	1.39B	2.36B	1.84B	1.99B	1.51B	2.11B
Cash & Short-Term Investments	803.63M	801.05M	901.79M	1.11B	1.08B	1.9B	1.44B	1.45B	977.71M	1.02B
Cash Only	803.63M	700.9M	800.85M	1B	978.96M	1.79B	1.33B	1.35B	865.21M	902.06M
Short-Term Investments	0	100.16M	100.94M	102.79M	105.32M	106.34M	106.31M	107.11M	112.5M	118.33M
Accounts Receivable	28.27M	41.14M	119.17M	47.66M	94.82M	190.4M	166.72M	233.54M	205.47M	178.96M
Days Sales Outstanding	4.82	6.47	16.45	5.23	9.04	38.4	18.84	16.82	13.99	13.29
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	71.4M	95.4M	119.39M	328.95M	909.78M
Total Non-Current Assets+	1.5B	2.18B	2.86B	3.82B	5.66B	6.04B	6.7B	7.19B	7.91B	7.49B
Property, Plant & Equipment	1.34B	1.99B	2.64B	3.49B	5.26B	5.66B	6.29B	6.94B	7.56B	7.19B
Fixed Asset Turnover	1.60x	1.17x	1.00x	0.95x	0.73x	0.32x	0.51x	0.73x	0.71x	0.68x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	166.67M	185.76M	220.92M	328.47M	398.5M	384.03M	405.6M	254.17M	344.24M	296.05M
Total Assets+	2.53B	3.15B	4.15B	5.17B	7.04B	8.4B	8.54B	9.18B	9.42B	9.6B
Asset Turnover	0.85x	0.74x	0.64x	0.64x	0.54x	0.22x	0.38x	0.55x	0.57x	0.51x
Asset Growth %	0.59%	0.25%	0.32%	0.25%	0.36%	0.19%	0.02%	0.08%	0.03%	0.02%
Total Current Liabilities+	466.24M	531.95M	664.33M	834.53M	1.11B	1.34B	1.28B	1.6B	1.67B	1.77B
Accounts Payable	17.04M	15.19M	22.82M	39.32M	43.6M	28.45M	44.95M	75.45M	42.1M	32.38M
Days Payables Outstanding	4.66	3.76	4.68	6.09	5.97	4.77	5.47	6.39	3.22	2.51
Short-Term Debt	49.64M	84.35M	115.43M	163.56M	258.85M	384.2M	208.95M	346.89M	315.58M	436.53M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	14.36M	21.44M	23.12M	25.74M	34.71M	31.47M	32.82M	29.19M	104.05M	47.51M
Current Ratio	2.20x	1.83x	1.93x	1.61x	1.25x	1.76x	1.44x	1.25x	0.90x	1.19x
Quick Ratio	2.20x	1.83x	1.93x	1.61x	1.25x	1.76x	1.44x	1.25x	0.90x	1.19x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	839M	1.23B	1.72B	2.4B	3.67B	4.81B	5.15B	6.02B	6.61B	7.91B
Long-Term Debt	596.69M	897.36M	1.39B	2.02B	1.96B	3.07B	2.98B	3.2B	3.06B	1.76B
Capital Lease Obligations	0	0	0	0	1.22B	1.25B	1.75B	2.46B	3.3B	4.34B
Deferred Tax Liabilities	221.48M	308.14M	308.81M	355.14M	469.29M	439.89M	375.47M	226.84M	107.76M	51.93M
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	1.76B
Total Liabilities	1.31B	1.76B	2.38B	3.24B	4.78B	6.15B	6.43B	7.61B	8.28B	9.68B
Total Debt+	670.34M	992.09M	1.52B	2.2B	3.58B	4.9B	5.12B	6.21B	6.93B	6.81B
Net Debt	-133.29M	291.19M	719.07M	1.2B	2.6B	3.11B	3.78B	4.87B	6.07B	5.91B
Debt / Equity	0.55x	0.71x	0.86x	1.14x	1.58x	2.18x	2.42x	3.95x	6.11x	-
Debt / EBITDA	1.15x	1.83x	2.90x	4.18x	4.93x	-	21.29x	-	-	-
Net Debt / EBITDA	-0.23x	0.54x	1.37x	2.27x	3.58x	-	15.75x	-	-	-
Interest Coverage	57.66x	15.25x	8.84x	4.75x	5.64x	-4.28x	-0.47x	-5.94x	-4.05x	-5.92x
Total Equity+	1.23B	1.39B	1.76B	1.93B	2.26B	2.25B	2.11B	1.57B	1.13B	-80.13M
Equity Growth %	0.22%	0.14%	0.26%	0.09%	0.17%	-0.01%	-0.06%	-0.26%	-0.28%	-1.07%
Book Value per Share	-	-	-	-	-	20.55	19.31	14.35	10.36	-0.73
Total Shareholders' Equity	1.23B	1.39B	1.76B	1.93B	2.26B	2.25B	2.11B	1.57B	1.13B	-80.13M
Common Stock	7K	7K	7K	7K	7K	10K	11K	11K	11K	11K
Retained Earnings	798.75M	1.06B	1.47B	1.63B	1.96B	1.52B	1.06B	504.22M	56.76M	-1.17B
Treasury Stock	-116.18M	-218.69M	-65.85M	-67.02M	-72.45M	-74.12M	-75.64M	-78M	-80.64M	-81.28M
Accumulated OCI	-1.55M	-1.34M	-1.46M	-1.19M	-787K	-618K	-532K	-596K	-67K	188K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	472.99M	471.76M	425.24M	506.46M	551.32M	-225.27M	208.89M	-89.02M	-246.66M	-758.09M
Operating CF Margin %	0.22%	0.2%	0.16%	0.15%	0.14%	-0.12%	0.06%	-0.02%	-0.05%	-0.15%
Operating CF Growth %	0.81%	-0%	-0.1%	0.19%	0.09%	-1.41%	1.93%	-1.43%	-1.77%	-2.07%
Net Income	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Depreciation & Amortization	73.91M	101.14M	140.15M	176.73M	225.26M	278.59M	297.21M	313.09M	320.87M	325.27M
Stock-Based Compensation	9.22M	7.11M	8.52M	11.02M	8.15M	11.57M	12.54M	11.48M	11.96M	7.21M
Deferred Taxes	155.61M	85.34M	-492K	46.3M	115.69M	-46.09M	-49.5M	-148.61M	-119.24M	-58.22M
Other Non-Cash Items	5.12M	47.75M	25.4M	108.69M	25.5M	23.27M	350M	409.32M	61.49M	384.35M
Working Capital Changes	-88.09M	-33.05M	-163.87M	7.98M	-158.54M	-63.93M	71.21M	-120.16M	-74.28M	-187.21M
Change in Receivables	-5.59M	-12.95M	-77.98M	71.52M	-47.16M	-95.96M	23.77M	-66.71M	27.91M	26.7M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	2.71M	-6.82M	6.03M	15.32M	569K	-17.05M	13.06M	9.03M	-34.05M	-40.12M
Cash from Investing+	-701.28M	-824.36M	-792M	-783.71M	-456.93M	-554M	-352.44M	-265.44M	-36.51M	463.6M
Capital Expenditures	-691.12M	-713.16M	-628.88M	-784.39M	-436.64M	-536.6M	-333.12M	-426.49M	-341.81M	-117.43M
CapEx % of Revenue	0.32%	0.31%	0.24%	0.24%	0.11%	0.3%	0.1%	0.08%	0.06%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-10.16M	-10.78M	-161.78M	2.17M	-18.71M	-16.18M	-18.46M	162.24M	307.36M	582.42M
Cash from Financing+	399.14M	249.86M	466.71M	481.13M	-120.17M	1.66B	-288.66M	391.3M	-197.96M	380.32M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-6.31M	-485K	-13.7M	-6.81M	2.71M	-36.36M	-319.68M	-3.47M	-315.3M	-156.77M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-228.3M	-252.22M	-215.95M	-286.66M	103.91M	-774.1M	-141.49M	-533.68M	-610.33M	-889.99M
FCF Margin %	-0.11%	-0.11%	-0.08%	-0.09%	0.03%	-0.43%	-0.04%	-0.11%	-0.11%	-0.18%
FCF Growth %	-4.45%	-0.1%	0.14%	-0.33%	1.36%	-8.45%	0.82%	-2.77%	-0.14%	-0.46%
FCF per Share	-	-	-	-	-	-7.07	-1.29	-4.87	-5.57	-8.13
FCF Conversion (FCF/Net Income)	1.49x	1.79x	1.02x	3.25x	1.64x	0.53x	-0.44x	0.16x	0.55x	0.62x
Interest Paid	7.06M	39.96M	37.9M	65.12M	80.25M	80.84M	135.5M	107.44M	138.38M	176.19M
Taxes Paid	95.93M	0	5.83M	0	5.84M	17.79M	112.46M	82K	0	3.55M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.47%	20.11%	26.32%	8.44%	16%	-19.01%	-21.66%	-30.07%	-33.07%	-233.25%
Return on Invested Capital (ROIC)	47.2%	23.84%	13.85%	9.38%	9.41%	-7.45%	-0.76%	-7.28%	-5.45%	-12.72%
Gross Margin	37.62%	36.5%	32.64%	29.07%	30.4%	-20.33%	7.18%	14.93%	11.02%	4.26%
Net Margin	14.81%	11.36%	15.72%	4.69%	8.75%	-23.68%	-14.63%	-10.93%	-8.34%	-25.02%
Debt / Equity	0.55x	0.71x	0.86x	1.14x	1.58x	2.18x	2.42x	3.95x	6.11x	-
Interest Coverage	57.66x	15.25x	8.84x	4.75x	5.64x	-4.28x	-0.47x	-5.94x	-4.05x	-5.92x
FCF Conversion	1.49x	1.79x	1.02x	3.25x	1.64x	0.53x	-0.44x	0.16x	0.55x	0.62x
Revenue Growth	10.87%	8.34%	13.95%	25.7%	15.27%	-52.75%	78.49%	56.88%	5.8%	-8.38%

Frequently Asked Questions

Growth & Financials

Spirit Aviation Holdings, Inc. (FLYY) reported $4.67B in revenue for fiscal year 2024. This represents a 336% increase from $1.07B in 2011.

Spirit Aviation Holdings, Inc. (FLYY) saw revenue decline by 8.4% over the past year.

Spirit Aviation Holdings, Inc. (FLYY) reported a net loss of $1.33B for fiscal year 2024.

Dividend & Returns

Spirit Aviation Holdings, Inc. (FLYY) has a return on equity (ROE) of -233.3%. Negative ROE indicates the company is unprofitable.

Spirit Aviation Holdings, Inc. (FLYY) had negative free cash flow of $949.8M in fiscal year 2024, likely due to heavy capital investments.

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Spirit Aviation Holdings, Inc. (FLYY) 10-Year Financial Performance & Capital Metrics

FLYY • • Industrial / General

IndustrialsAirlines & AirportsLow-Cost & Ultra-Low-Cost CarriersUS Low-Cost Carriers

Revenue $4.91B -8.4%
EBITDA -$780M -346.1%
Net Income -$1.23B -174.8%
EPS (Diluted) -11.23 -174.6%
Gross Margin 4.26% -61.4%
EBITDA Margin -15.88% -386.8%
Operating Margin -22.5% -143.3%
Net Margin -25.02% -199.9%
ROE -233.25% -605.3%
ROIC -12.72% -133.3%
Debt/Equity -
Interest Coverage -5.92 -46.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.79%

5Y5.11%

3Y15%

TTM-11.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-174.11%

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg4.38%

5Y Avg-7.47%

3Y Avg-9.58%

Latest-14.2%

Peer Comparison

US Low-Cost Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LUVSouthwest Airlines Co.	22.29B	43.10	57.47	5.34%	1.38%	4.87%		0.78
SNCYSun Country Airlines Holdings, Inc.	925.67M	17.56	18.29	2.49%	5.25%	9.52%	12.7%	1.09
ULCCFrontier Group Holdings, Inc.	1.16B	5.08	13.37	5.18%	-3.65%	-31.34%		7.40
FLYYSpirit Aviation Holdings, Inc.		0.38	-0.03	-8.38%	-28.55%	-277.97%
JBLUJetBlue Airways Corporation	1.81B	4.98	-2.17	-3.49%	-5.16%	-20.66%		3.46
ALGTAllegiant Travel Company	1.63B	88.87	-6.59	0.11%	-11.36%	-28.84%	2.35%	1.97

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.14B	2.32B	2.64B	3.32B	3.83B	1.81B	3.23B	5.07B	5.36B	4.91B
Revenue Growth %	0.11%	0.08%	0.14%	0.26%	0.15%	-0.53%	0.78%	0.57%	0.06%	-0.08%
Cost of Goods Sold+	1.34B	1.47B	1.78B	2.36B	2.67B	2.18B	3B	4.31B	4.77B	4.7B
COGS % of Revenue	0.62%	0.63%	0.67%	0.71%	0.7%	1.2%	0.93%	0.85%	0.89%	0.96%
Gross Profit+	805.54M	846.92M	862.91M	965.95M	1.16B	-368.01M	232.06M	756.65M	590.87M	209.21M
Gross Margin %	0.38%	0.37%	0.33%	0.29%	0.3%	-0.2%	0.07%	0.15%	0.11%	0.04%
Gross Profit Growth %	0.38%	0.05%	0.02%	0.12%	0.21%	-1.32%	1.63%	2.26%	-0.22%	-0.65%
Operating Expenses+	296.42M	405.46M	478.09M	615.04M	663.27M	139.75M	288.93M	1.36B	1.09B	1.31B
OpEx % of Revenue	0.14%	0.17%	0.18%	0.19%	0.17%	0.08%	0.09%	0.27%	0.2%	0.27%
Selling, General & Admin	86.58M	96.89M	113.47M	137M	153.77M	85.06M	132.5M	177.56M	190.89M	197.2M
SG&A % of Revenue	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.04%	0.04%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	209.85M	308.57M	364.62M	478.04M	509.5M	54.69M	156.43M	1.18B	895.74M	1.12B
Operating Income+	509.12M	441.46M	384.82M	350.91M	501.05M	-507.76M	-56.87M	-598.92M	-495.76M	-1.11B
Operating Margin %	0.24%	0.19%	0.15%	0.11%	0.13%	-0.28%	-0.02%	-0.12%	-0.09%	-0.22%
Operating Income Growth %	0.43%	-0.13%	-0.13%	-0.09%	0.43%	-2.01%	0.89%	-9.53%	0.17%	-1.23%
EBITDA+	583.03M	542.59M	524.98M	527.64M	726.31M	-229.17M	240.34M	-285.83M	-174.88M	-780.11M
EBITDA Margin %	0.27%	0.23%	0.2%	0.16%	0.19%	-0.13%	0.07%	-0.06%	-0.03%	-0.16%
EBITDA Growth %	0.45%	-0.07%	-0.03%	0.01%	0.38%	-1.32%	2.05%	-2.19%	0.39%	-3.46%
D&A (Non-Cash Add-back)	73.91M	101.14M	140.15M	176.73M	225.26M	278.59M	297.21M	313.09M	320.87M	325.27M
EBIT	511.23M	446.21M	393.19M	278.91M	525.3M	-501.66M	-399.23M	-599.95M	-436.09M	-1.1B
Net Interest Income+	-6.7M	-23.67M	-34.77M	-54.83M	-63.75M	-112.21M	-131.24M	-97M	-74.18M	-152.68M
Interest Income	2.13M	5.28M	8.74M	19.11M	25.13M	6.31M	5.37M	20.15M	65.42M	48.32M
Interest Expense	8.83M	28.95M	43.51M	73.94M	88.88M	118.53M	121.09M	100.79M	122.5M	186.57M
Other Income/Expense	-6.72M	-24.2M	-35.14M	-145.94M	-64.62M	-112.42M	-463.45M	-101.82M	-62.84M	-184.32M
Pretax Income+	502.4M	417.26M	349.69M	204.98M	436.43M	-620.18M	-520.32M	-700.74M	-558.6M	-1.29B
Pretax Margin %	0.23%	0.18%	0.13%	0.06%	0.11%	-0.34%	-0.16%	-0.14%	-0.1%	-0.26%
Income Tax+	185.18M	153.77M	-65.84M	49.23M	101.17M	-191.48M	-47.75M	-146.59M	-111.13M	-60.21M
Effective Tax Rate %	0.63%	0.63%	1.19%	0.76%	0.77%	0.69%	0.91%	0.79%	0.8%	0.95%
Net Income+	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Net Margin %	0.15%	0.11%	0.16%	0.05%	0.09%	-0.24%	-0.15%	-0.11%	-0.08%	-0.25%
Net Income Growth %	0.41%	-0.17%	0.58%	-0.63%	1.15%	-2.28%	-0.1%	-0.17%	0.19%	-1.75%
Net Income (Continuing)	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.00	0.00	0.00	0.00	0.00	-3.92	-4.32	-5.06	-4.09	-11.23
EPS Growth %	-	-	-	-	-	-	-0.1%	-0.17%	0.19%	-1.75%
EPS (Basic)	0.00	0.00	0.00	0.00	0.00	-3.92	-4.32	-5.06	-4.09	-11.23
Diluted Shares Outstanding	0	0	0	0	0	109.5M	109.5M	109.5M	109.5M	109.5M
Basic Shares Outstanding	0	0	0	0	0	109.5M	109.5M	109.5M	109.5M	109.5M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.03B	975.85M	1.28B	1.35B	1.39B	2.36B	1.84B	1.99B	1.51B	2.11B
Cash & Short-Term Investments	803.63M	801.05M	901.79M	1.11B	1.08B	1.9B	1.44B	1.45B	977.71M	1.02B
Cash Only	803.63M	700.9M	800.85M	1B	978.96M	1.79B	1.33B	1.35B	865.21M	902.06M
Short-Term Investments	0	100.16M	100.94M	102.79M	105.32M	106.34M	106.31M	107.11M	112.5M	118.33M
Accounts Receivable	28.27M	41.14M	119.17M	47.66M	94.82M	190.4M	166.72M	233.54M	205.47M	178.96M
Days Sales Outstanding	4.82	6.47	16.45	5.23	9.04	38.4	18.84	16.82	13.99	13.29
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	71.4M	95.4M	119.39M	328.95M	909.78M
Total Non-Current Assets+	1.5B	2.18B	2.86B	3.82B	5.66B	6.04B	6.7B	7.19B	7.91B	7.49B
Property, Plant & Equipment	1.34B	1.99B	2.64B	3.49B	5.26B	5.66B	6.29B	6.94B	7.56B	7.19B
Fixed Asset Turnover	1.60x	1.17x	1.00x	0.95x	0.73x	0.32x	0.51x	0.73x	0.71x	0.68x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	166.67M	185.76M	220.92M	328.47M	398.5M	384.03M	405.6M	254.17M	344.24M	296.05M
Total Assets+	2.53B	3.15B	4.15B	5.17B	7.04B	8.4B	8.54B	9.18B	9.42B	9.6B
Asset Turnover	0.85x	0.74x	0.64x	0.64x	0.54x	0.22x	0.38x	0.55x	0.57x	0.51x
Asset Growth %	0.59%	0.25%	0.32%	0.25%	0.36%	0.19%	0.02%	0.08%	0.03%	0.02%
Total Current Liabilities+	466.24M	531.95M	664.33M	834.53M	1.11B	1.34B	1.28B	1.6B	1.67B	1.77B
Accounts Payable	17.04M	15.19M	22.82M	39.32M	43.6M	28.45M	44.95M	75.45M	42.1M	32.38M
Days Payables Outstanding	4.66	3.76	4.68	6.09	5.97	4.77	5.47	6.39	3.22	2.51
Short-Term Debt	49.64M	84.35M	115.43M	163.56M	258.85M	384.2M	208.95M	346.89M	315.58M	436.53M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	14.36M	21.44M	23.12M	25.74M	34.71M	31.47M	32.82M	29.19M	104.05M	47.51M
Current Ratio	2.20x	1.83x	1.93x	1.61x	1.25x	1.76x	1.44x	1.25x	0.90x	1.19x
Quick Ratio	2.20x	1.83x	1.93x	1.61x	1.25x	1.76x	1.44x	1.25x	0.90x	1.19x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	839M	1.23B	1.72B	2.4B	3.67B	4.81B	5.15B	6.02B	6.61B	7.91B
Long-Term Debt	596.69M	897.36M	1.39B	2.02B	1.96B	3.07B	2.98B	3.2B	3.06B	1.76B
Capital Lease Obligations	0	0	0	0	1.22B	1.25B	1.75B	2.46B	3.3B	4.34B
Deferred Tax Liabilities	221.48M	308.14M	308.81M	355.14M	469.29M	439.89M	375.47M	226.84M	107.76M	51.93M
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	1.76B
Total Liabilities	1.31B	1.76B	2.38B	3.24B	4.78B	6.15B	6.43B	7.61B	8.28B	9.68B
Total Debt+	670.34M	992.09M	1.52B	2.2B	3.58B	4.9B	5.12B	6.21B	6.93B	6.81B
Net Debt	-133.29M	291.19M	719.07M	1.2B	2.6B	3.11B	3.78B	4.87B	6.07B	5.91B
Debt / Equity	0.55x	0.71x	0.86x	1.14x	1.58x	2.18x	2.42x	3.95x	6.11x	-
Debt / EBITDA	1.15x	1.83x	2.90x	4.18x	4.93x	-	21.29x	-	-	-
Net Debt / EBITDA	-0.23x	0.54x	1.37x	2.27x	3.58x	-	15.75x	-	-	-
Interest Coverage	57.66x	15.25x	8.84x	4.75x	5.64x	-4.28x	-0.47x	-5.94x	-4.05x	-5.92x
Total Equity+	1.23B	1.39B	1.76B	1.93B	2.26B	2.25B	2.11B	1.57B	1.13B	-80.13M
Equity Growth %	0.22%	0.14%	0.26%	0.09%	0.17%	-0.01%	-0.06%	-0.26%	-0.28%	-1.07%
Book Value per Share	-	-	-	-	-	20.55	19.31	14.35	10.36	-0.73
Total Shareholders' Equity	1.23B	1.39B	1.76B	1.93B	2.26B	2.25B	2.11B	1.57B	1.13B	-80.13M
Common Stock	7K	7K	7K	7K	7K	10K	11K	11K	11K	11K
Retained Earnings	798.75M	1.06B	1.47B	1.63B	1.96B	1.52B	1.06B	504.22M	56.76M	-1.17B
Treasury Stock	-116.18M	-218.69M	-65.85M	-67.02M	-72.45M	-74.12M	-75.64M	-78M	-80.64M	-81.28M
Accumulated OCI	-1.55M	-1.34M	-1.46M	-1.19M	-787K	-618K	-532K	-596K	-67K	188K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	472.99M	471.76M	425.24M	506.46M	551.32M	-225.27M	208.89M	-89.02M	-246.66M	-758.09M
Operating CF Margin %	0.22%	0.2%	0.16%	0.15%	0.14%	-0.12%	0.06%	-0.02%	-0.05%	-0.15%
Operating CF Growth %	0.81%	-0%	-0.1%	0.19%	0.09%	-1.41%	1.93%	-1.43%	-1.77%	-2.07%
Net Income	317.22M	263.48M	415.52M	155.75M	335.25M	-428.7M	-472.57M	-554.15M	-447.46M	-1.23B
Depreciation & Amortization	73.91M	101.14M	140.15M	176.73M	225.26M	278.59M	297.21M	313.09M	320.87M	325.27M
Stock-Based Compensation	9.22M	7.11M	8.52M	11.02M	8.15M	11.57M	12.54M	11.48M	11.96M	7.21M
Deferred Taxes	155.61M	85.34M	-492K	46.3M	115.69M	-46.09M	-49.5M	-148.61M	-119.24M	-58.22M
Other Non-Cash Items	5.12M	47.75M	25.4M	108.69M	25.5M	23.27M	350M	409.32M	61.49M	384.35M
Working Capital Changes	-88.09M	-33.05M	-163.87M	7.98M	-158.54M	-63.93M	71.21M	-120.16M	-74.28M	-187.21M
Change in Receivables	-5.59M	-12.95M	-77.98M	71.52M	-47.16M	-95.96M	23.77M	-66.71M	27.91M	26.7M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	2.71M	-6.82M	6.03M	15.32M	569K	-17.05M	13.06M	9.03M	-34.05M	-40.12M
Cash from Investing+	-701.28M	-824.36M	-792M	-783.71M	-456.93M	-554M	-352.44M	-265.44M	-36.51M	463.6M
Capital Expenditures	-691.12M	-713.16M	-628.88M	-784.39M	-436.64M	-536.6M	-333.12M	-426.49M	-341.81M	-117.43M
CapEx % of Revenue	0.32%	0.31%	0.24%	0.24%	0.11%	0.3%	0.1%	0.08%	0.06%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-10.16M	-10.78M	-161.78M	2.17M	-18.71M	-16.18M	-18.46M	162.24M	307.36M	582.42M
Cash from Financing+	399.14M	249.86M	466.71M	481.13M	-120.17M	1.66B	-288.66M	391.3M	-197.96M	380.32M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-6.31M	-485K	-13.7M	-6.81M	2.71M	-36.36M	-319.68M	-3.47M	-315.3M	-156.77M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-228.3M	-252.22M	-215.95M	-286.66M	103.91M	-774.1M	-141.49M	-533.68M	-610.33M	-889.99M
FCF Margin %	-0.11%	-0.11%	-0.08%	-0.09%	0.03%	-0.43%	-0.04%	-0.11%	-0.11%	-0.18%
FCF Growth %	-4.45%	-0.1%	0.14%	-0.33%	1.36%	-8.45%	0.82%	-2.77%	-0.14%	-0.46%
FCF per Share	-	-	-	-	-	-7.07	-1.29	-4.87	-5.57	-8.13
FCF Conversion (FCF/Net Income)	1.49x	1.79x	1.02x	3.25x	1.64x	0.53x	-0.44x	0.16x	0.55x	0.62x
Interest Paid	7.06M	39.96M	37.9M	65.12M	80.25M	80.84M	135.5M	107.44M	138.38M	176.19M
Taxes Paid	95.93M	0	5.83M	0	5.84M	17.79M	112.46M	82K	0	3.55M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.47%	20.11%	26.32%	8.44%	16%	-19.01%	-21.66%	-30.07%	-33.07%	-233.25%
Return on Invested Capital (ROIC)	47.2%	23.84%	13.85%	9.38%	9.41%	-7.45%	-0.76%	-7.28%	-5.45%	-12.72%
Gross Margin	37.62%	36.5%	32.64%	29.07%	30.4%	-20.33%	7.18%	14.93%	11.02%	4.26%
Net Margin	14.81%	11.36%	15.72%	4.69%	8.75%	-23.68%	-14.63%	-10.93%	-8.34%	-25.02%
Debt / Equity	0.55x	0.71x	0.86x	1.14x	1.58x	2.18x	2.42x	3.95x	6.11x	-
Interest Coverage	57.66x	15.25x	8.84x	4.75x	5.64x	-4.28x	-0.47x	-5.94x	-4.05x	-5.92x
FCF Conversion	1.49x	1.79x	1.02x	3.25x	1.64x	0.53x	-0.44x	0.16x	0.55x	0.62x
Revenue Growth	10.87%	8.34%	13.95%	25.7%	15.27%	-52.75%	78.49%	56.88%	5.8%	-8.38%

Frequently Asked Questions

Growth & Financials

Spirit Aviation Holdings, Inc. (FLYY) reported $4.67B in revenue for fiscal year 2024. This represents a 336% increase from $1.07B in 2011.

Spirit Aviation Holdings, Inc. (FLYY) saw revenue decline by 8.4% over the past year.

Spirit Aviation Holdings, Inc. (FLYY) reported a net loss of $1.33B for fiscal year 2024.

Dividend & Returns

Spirit Aviation Holdings, Inc. (FLYY) has a return on equity (ROE) of -233.3%. Negative ROE indicates the company is unprofitable.

Spirit Aviation Holdings, Inc. (FLYY) had negative free cash flow of $949.8M in fiscal year 2024, likely due to heavy capital investments.