Sun Country Airlines Holdings, Inc. (SNCY) 10-Year Financial Performance & Capital Metrics

SNCY • • Industrial / General

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

AboutSun Country Airlines Holdings, Inc., an air carrier company, provides scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. As of December 31, 2021, the company operated a fleet of 48 aircraft, including 36 passenger and 12 cargo aircraft. Sun Country Airlines Holdings, Inc. was founded in 1983 and is headquartered in Minneapolis, Minnesota.Show more

Revenue $1.08B +2.5%
EBITDA $203M -6.6%
Net Income $53M -26.7%
EPS (Diluted) 0.96 -22.0%
Gross Margin 69.62% +171.5%
EBITDA Margin 18.84% -8.8%
Operating Margin 9.85% -18.9%
Net Margin 4.92% -28.5%
ROE 9.75% -32.0%
ROIC 7% -19.7%
Debt/Equity 1.09 -20.0%
Interest Coverage 2.39 -20.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 86 (top 14%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 5.9% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y8.93%

3Y19.97%

TTM4.27%

Profit (Net Income) CAGR

10Y-

5Y2.8%

3Y-13.33%

TTM28.79%

EPS CAGR

10Y-

5Y3.46%

3Y-11.18%

TTM28.69%

ROCE

10Y Avg8.4%

5Y Avg7.75%

3Y Avg8.2%

Latest8.78%

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 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	582.38M	701.38M	401.49M	623.01M	894.44M	1.05B	1.08B
Revenue Growth %	-	0.2%	-0.43%	0.55%	0.44%	0.17%	0.02%
Cost of Goods Sold+	527.44M	512.6M	383.38M	487.79M	716.71M	780.45M	326.77M
COGS % of Revenue	0.91%	0.73%	0.95%	0.78%	0.8%	0.74%	0.3%
Gross Profit+	54.95M	188.79M	18.11M	133.17M	177.74M	269.17M	748.96M
Gross Margin %	0.09%	0.27%	0.05%	0.21%	0.2%	0.26%	0.7%
Gross Profit Growth %	-	2.44%	-0.9%	6.35%	0.33%	0.51%	1.78%
Operating Expenses+	28.03M	110.67M	725K	21.22M	122.03M	141.67M	642.98M
OpEx % of Revenue	0.05%	0.16%	0%	0.03%	0.14%	0.13%	0.6%
Selling, General & Admin	28.03M	35.39M	16.57M	22.06M	31.05M	34.1M	34.94M
SG&A % of Revenue	0.05%	0.05%	0.04%	0.04%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	0	75.28M	-15.85M	-839K	90.98M	107.56M	608.04M
Operating Income+	26.91M	78.12M	17.39M	111.95M	55.71M	127.5M	105.99M
Operating Margin %	0.05%	0.11%	0.04%	0.18%	0.06%	0.12%	0.1%
Operating Income Growth %	-	1.9%	-0.78%	5.44%	-0.5%	1.29%	-0.17%
EBITDA+	43.84M	113M	65.47M	185.5M	123.35M	216.95M	202.69M
EBITDA Margin %	0.08%	0.16%	0.16%	0.3%	0.14%	0.21%	0.19%
EBITDA Growth %	-	1.58%	-0.42%	1.83%	-0.34%	0.76%	-0.07%
D&A (Non-Cash Add-back)	16.93M	34.88M	48.09M	73.55M	67.64M	89.45M	96.7M
EBIT	26.91M	77.33M	17.39M	126.66M	55M	136.79M	113.87M
Net Interest Income+	0	-16.23M	-21.7M	-26.24M	-26.49M	-32.45M	-36.47M
Interest Income	6.04M	937K	377K	85K	4.53M	10.18M	7.83M
Interest Expense	0	17.17M	22.07M	26.33M	31.02M	42.63M	44.3M
Other Income/Expense	-1.21M	-17.96M	-22.07M	-11.62M	-31.73M	-33.34M	-36.41M
Pretax Income+	25.7M	60.16M	-4.68M	100.33M	23.98M	94.16M	69.57M
Pretax Margin %	0.04%	0.09%	-0.01%	0.16%	0.03%	0.09%	0.06%
Income Tax+	161K	14.09M	-778K	19.08M	6.31M	21.98M	16.67M
Effective Tax Rate %	0.99%	0.77%	0.83%	0.81%	0.74%	0.77%	0.76%
Net Income+	25.54M	46.07M	-3.9M	81.25M	17.68M	72.18M	52.9M
Net Margin %	0.04%	0.07%	-0.01%	0.13%	0.02%	0.07%	0.05%
Net Income Growth %	-	0.8%	-1.08%	21.81%	-0.78%	3.08%	-0.27%
Net Income (Continuing)	25.54M	46.07M	-3.9M	81.25M	17.68M	72.18M	52.9M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	0.45	0.81	-0.07	1.37	0.29	1.23	0.96
EPS Growth %	-	0.8%	-1.08%	21.06%	-0.79%	3.24%	-0.22%
EPS (Basic)	0.45	0.81	-0.07	1.47	0.31	1.30	1.00
Diluted Shares Outstanding	57.15M	57.15M	57.15M	59.32M	61.05M	58.52M	55.06M
Basic Shares Outstanding	57.15M	57.15M	57.15M	55.18M	57.95M	55.51M	52.91M
Dividend Payout Ratio	0.41%	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	81.42M	112.53M	126.74M	375.44M	345.49M	271.35M	266.58M
Cash & Short-Term Investments	35.55M	56.7M	67.65M	315.62M	271.02M	187.41M	187.27M
Cash Only	29.6M	51.01M	62.03M	309.34M	92.09M	46.28M	83.22M
Short-Term Investments	5.95M	5.69M	5.62M	6.28M	178.94M	141.13M	104.05M
Accounts Receivable	11.06M	22.41M	28.69M	30.16M	35.12M	38.17M	35.3M
Days Sales Outstanding	6.93	11.66	26.08	17.67	14.33	13.27	11.98
Inventory	4.83M	5.27M	5.41M	5.41M	7.66M	7.79M	10.47M
Days Inventory Outstanding	3.34	3.75	5.15	4.04	3.9	3.64	11.69
Other Current Assets	17.18M	18.46M	13.89M	10.24M	19.02M	21.12M	19.19M
Total Non-Current Assets+	594.41M	895.35M	926.53M	1B	1.18B	1.35B	1.36B
Property, Plant & Equipment	190.66M	510.19M	546.04M	640.18M	816.98M	993.46M	994.91M
Fixed Asset Turnover	3.05x	1.37x	0.74x	0.97x	1.09x	1.06x	1.08x
Goodwill	222.22M	222.22M	222.22M	222.22M	222.22M	222.22M	222.22M
Intangible Assets	101.11M	97.11M	93.11M	89.11M	85.11M	83.55M	77.84M
Long-Term Investments	0	28.27M	0	-330.07M	0	0	0
Other Non-Current Assets	80.42M	2.13M	28.94M	362.15M	41.65M	53.04M	68.62M
Total Assets+	675.83M	1.01B	1.05B	1.38B	1.52B	1.62B	1.63B
Asset Turnover	0.86x	0.70x	0.38x	0.45x	0.59x	0.65x	0.66x
Asset Growth %	-	0.49%	0.05%	0.31%	0.1%	0.07%	0%
Total Current Liabilities+	222.92M	353.55M	253.74M	281.65M	377.13M	418.58M	422.29M
Accounts Payable	28.67M	43.9M	34.03M	39.8M	62.37M	59.01M	56.03M
Days Payables Outstanding	19.84	31.26	32.4	29.78	31.76	27.6	62.59
Short-Term Debt	8.61M	13.2M	26.12M	29.41M	57.55M	74.18M	87.58M
Deferred Revenue (Current)	0	1000K	1000K	1000K	0	0	0
Other Current Liabilities	155.02M	26.52M	24.31M	23.67M	186.48M	183.77M	186.03M
Current Ratio	0.37x	0.32x	0.50x	1.33x	0.92x	0.65x	0.63x
Quick Ratio	0.34x	0.30x	0.48x	1.31x	0.90x	0.63x	0.61x
Cash Conversion Cycle	-9.56	-15.84	-1.17	-8.07	-13.53	-10.68	-38.92
Total Non-Current Liabilities+	217.26M	370.6M	515.71M	608.18M	654.57M	690.64M	637.51M
Long-Term Debt	49.82M	73.72M	256.35M	248.01M	294.69M	327.47M	239.54M
Capital Lease Obligations	85.7M	246.92M	208.42M	239.26M	253.14M	249.16M	268.46M
Deferred Tax Liabilities	0	0	0	0	0	9.15M	23.57M
Other Non-Current Liabilities	81.74M	49.97M	50.95M	120.91M	106.74M	104.87M	105.95M
Total Liabilities	440.19M	724.15M	769.45M	889.83M	1.03B	1.11B	1.06B
Total Debt+	150.25M	456.76M	536.83M	545.62M	629.66M	697.78M	619.03M
Net Debt	120.65M	405.76M	474.8M	236.28M	537.58M	651.5M	535.82M
Debt / Equity	0.64x	1.61x	1.89x	1.11x	1.28x	1.36x	1.09x
Debt / EBITDA	3.43x	4.04x	8.20x	2.94x	5.10x	3.22x	3.05x
Net Debt / EBITDA	2.75x	3.59x	7.25x	1.27x	4.36x	3.00x	2.64x
Interest Coverage	-	4.55x	0.79x	4.25x	1.80x	2.99x	2.39x
Total Equity+	235.65M	283.72M	283.82M	490.59M	492.71M	514.4M	570.37M
Equity Growth %	-	0.2%	0%	0.73%	0%	0.04%	0.11%
Book Value per Share	4.12	4.96	4.97	8.27	8.07	8.79	10.36
Total Shareholders' Equity	235.65M	283.72M	283.82M	490.59M	492.71M	514.4M	570.37M
Common Stock	239.14M	239.14M	468K	579K	582K	589K	595K
Retained Earnings	-367K	42.23M	38.32M	4.37M	22.05M	94.23M	147.13M
Treasury Stock	0	0	0	0	-17.61M	-94.34M	-105.87M
Accumulated OCI	-3.5M	-3.5M	-3.5M	0	-807K	-62K	-92K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	18.35M	63.27M	374K	152M	127.44M	174.12M	164.86M
Operating CF Margin %	0.03%	0.09%	0%	0.24%	0.14%	0.17%	0.15%
Operating CF Growth %	-	2.45%	-0.99%	405.42%	-0.16%	0.37%	-0.05%
Net Income	25.54M	46.07M	-3.9M	77.47M	17.68M	72.18M	52.9M
Depreciation & Amortization	16.93M	34.88M	48.09M	55.02M	67.64M	89.45M	96.7M
Stock-Based Compensation	373K	0	2.11M	5.56M	2.77M	9.27M	6.02M
Deferred Taxes	147K	14.02M	-789K	1.08M	9.89M	21.55M	14.43M
Other Non-Cash Items	-5.2M	11.82M	31.47M	3.09M	4.92M	6.79M	459K
Working Capital Changes	-18.57M	-43.52M	-76.6M	9.78M	24.53M	-25.13M	-5.65M
Change in Receivables	21.51M	-11.35M	-6.28M	-481K	-3.31M	-2.67M	11.22M
Change in Inventory	-137K	-869K	-614K	-484K	-3.01M	-1.46M	-5.04M
Change in Payables	11.98M	9.04M	-7.17M	5.82M	17.62M	-3.03M	-2.96M
Cash from Investing+	-83.42M	-69.56M	-96.03M	-117M	-349.33M	-171.23M	8.4M
Capital Expenditures	-81.26M	-69.82M	-96.3M	-116.3M	-187.92M	-218.16M	-47.33M
CapEx % of Revenue	0.14%	0.1%	0.24%	0.19%	0.21%	0.21%	0.04%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-2.15M	0	0	-700K	12.55M	4.95M	18.01M
Cash from Financing+	91.51M	27.33M	101.54M	212.4M	7.03M	-42.14M	-136.47M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-10.55M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	47.87M	-557K	-4.19M	-6.69M	-636K	-1.59M	-2.87M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-62.92M	-6.54M	-95.92M	35.7M	-60.48M	-44.04M	117.53M
FCF Margin %	-0.11%	-0.01%	-0.24%	0.06%	-0.07%	-0.04%	0.11%
FCF Growth %	-	0.9%	-13.66%	1.37%	-2.69%	0.27%	3.67%
FCF per Share	-1.10	-0.11	-1.68	0.60	-0.99	-0.75	2.13
FCF Conversion (FCF/Net Income)	0.72x	1.37x	-0.10x	1.87x	7.21x	2.41x	3.12x
Interest Paid	0	0	20.3M	23.6M	24.05M	41.45M	42.78M
Taxes Paid	0	0	47K	172K	1.69M	1.5M	392K

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.84%	17.74%	-1.38%	20.98%	3.6%	14.33%	9.75%
Return on Invested Capital (ROIC)	5.67%	11.21%	1.8%	11.3%	4.76%	8.71%	7%
Gross Margin	9.43%	26.92%	4.51%	21.37%	19.87%	25.64%	69.62%
Net Margin	4.39%	6.57%	-0.97%	13.04%	1.98%	6.88%	4.92%
Debt / Equity	0.64x	1.61x	1.89x	1.11x	1.28x	1.36x	1.09x
Interest Coverage	-	4.55x	0.79x	4.25x	1.80x	2.99x	2.39x
FCF Conversion	0.72x	1.37x	-0.10x	1.87x	7.21x	2.41x	3.12x
Revenue Growth	-	20.43%	-42.76%	55.18%	43.57%	17.35%	2.49%

Revenue by Segment

	2021	2022	2023	2024
Passenger	523.95M	792.43M	920.12M	914.09M
Passenger Growth	-	51.24%	16.11%	-0.66%
Scheduled service	279.38M	438.31M	453.86M	409.13M
Scheduled service Growth	-	56.89%	3.55%	-9.86%
Ancillary	117.24M	192.51M	276.13M	307.91M
Ancillary Growth	-	64.20%	43.44%	11.51%
Charter service	127.33M	161.62M	190.13M	197.04M
Charter service Growth	-	26.93%	17.64%	3.64%
Cargo and Freight	-	90.35M	99.73M	107.17M
Cargo and Freight Growth	-	-	10.39%	7.46%
Service, Other	-	11.66M	29.76M	54.48M
Service, Other Growth	-	-	155.23%	83.05%
Cargo	91.43M	-	-	-
Cargo Growth	-	-	-	-
Other	7.64M	-	-	-
Other Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	857.76M	1.01B	1.04B
UNITED STATES Growth	-	-	17.58%	3.05%
Latin America	24.65M	36.54M	40.55M	36.4M
Latin America Growth	-	48.25%	10.98%	-10.23%
Other Countries	1.36M	143K	490K	-
Other Countries Growth	-	-89.52%	242.66%	-
Domestic	597M	-	-	-
Domestic Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Sun Country Airlines Holdings, Inc. (SNCY) has a price-to-earnings (P/E) ratio of 18.3x. This is roughly in line with market averages.

Growth & Financials

Sun Country Airlines Holdings, Inc. (SNCY) reported $1.11B in revenue for fiscal year 2024. This represents a 90% increase from $582.4M in 2018.

Sun Country Airlines Holdings, Inc. (SNCY) grew revenue by 2.5% over the past year. Growth has been modest.

Yes, Sun Country Airlines Holdings, Inc. (SNCY) is profitable, generating $58.1M in net income for fiscal year 2024 (4.9% net margin).

Dividend & Returns

Sun Country Airlines Holdings, Inc. (SNCY) has a return on equity (ROE) of 9.8%. This is below average, suggesting room for improvement.

Sun Country Airlines Holdings, Inc. (SNCY) generated $134.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Sun Country Airlines Holdings, Inc. (SNCY) 10-Year Financial Performance & Capital Metrics

SNCY • • Industrial / General

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

Revenue $1.08B +2.5%
EBITDA $203M -6.6%
Net Income $53M -26.7%
EPS (Diluted) 0.96 -22.0%
Gross Margin 69.62% +171.5%
EBITDA Margin 18.84% -8.8%
Operating Margin 9.85% -18.9%
Net Margin 4.92% -28.5%
ROE 9.75% -32.0%
ROIC 7% -19.7%
Debt/Equity 1.09 -20.0%
Interest Coverage 2.39 -20.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 86 (top 14%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 5.9% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y8.93%

3Y19.97%

TTM4.27%

Profit (Net Income) CAGR

10Y-

5Y2.8%

3Y-13.33%

TTM28.79%

EPS CAGR

10Y-

5Y3.46%

3Y-11.18%

TTM28.69%

ROCE

10Y Avg8.4%

5Y Avg7.75%

3Y Avg8.2%

Latest8.78%

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 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	582.38M	701.38M	401.49M	623.01M	894.44M	1.05B	1.08B
Revenue Growth %	-	0.2%	-0.43%	0.55%	0.44%	0.17%	0.02%
Cost of Goods Sold+	527.44M	512.6M	383.38M	487.79M	716.71M	780.45M	326.77M
COGS % of Revenue	0.91%	0.73%	0.95%	0.78%	0.8%	0.74%	0.3%
Gross Profit+	54.95M	188.79M	18.11M	133.17M	177.74M	269.17M	748.96M
Gross Margin %	0.09%	0.27%	0.05%	0.21%	0.2%	0.26%	0.7%
Gross Profit Growth %	-	2.44%	-0.9%	6.35%	0.33%	0.51%	1.78%
Operating Expenses+	28.03M	110.67M	725K	21.22M	122.03M	141.67M	642.98M
OpEx % of Revenue	0.05%	0.16%	0%	0.03%	0.14%	0.13%	0.6%
Selling, General & Admin	28.03M	35.39M	16.57M	22.06M	31.05M	34.1M	34.94M
SG&A % of Revenue	0.05%	0.05%	0.04%	0.04%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	0	75.28M	-15.85M	-839K	90.98M	107.56M	608.04M
Operating Income+	26.91M	78.12M	17.39M	111.95M	55.71M	127.5M	105.99M
Operating Margin %	0.05%	0.11%	0.04%	0.18%	0.06%	0.12%	0.1%
Operating Income Growth %	-	1.9%	-0.78%	5.44%	-0.5%	1.29%	-0.17%
EBITDA+	43.84M	113M	65.47M	185.5M	123.35M	216.95M	202.69M
EBITDA Margin %	0.08%	0.16%	0.16%	0.3%	0.14%	0.21%	0.19%
EBITDA Growth %	-	1.58%	-0.42%	1.83%	-0.34%	0.76%	-0.07%
D&A (Non-Cash Add-back)	16.93M	34.88M	48.09M	73.55M	67.64M	89.45M	96.7M
EBIT	26.91M	77.33M	17.39M	126.66M	55M	136.79M	113.87M
Net Interest Income+	0	-16.23M	-21.7M	-26.24M	-26.49M	-32.45M	-36.47M
Interest Income	6.04M	937K	377K	85K	4.53M	10.18M	7.83M
Interest Expense	0	17.17M	22.07M	26.33M	31.02M	42.63M	44.3M
Other Income/Expense	-1.21M	-17.96M	-22.07M	-11.62M	-31.73M	-33.34M	-36.41M
Pretax Income+	25.7M	60.16M	-4.68M	100.33M	23.98M	94.16M	69.57M
Pretax Margin %	0.04%	0.09%	-0.01%	0.16%	0.03%	0.09%	0.06%
Income Tax+	161K	14.09M	-778K	19.08M	6.31M	21.98M	16.67M
Effective Tax Rate %	0.99%	0.77%	0.83%	0.81%	0.74%	0.77%	0.76%
Net Income+	25.54M	46.07M	-3.9M	81.25M	17.68M	72.18M	52.9M
Net Margin %	0.04%	0.07%	-0.01%	0.13%	0.02%	0.07%	0.05%
Net Income Growth %	-	0.8%	-1.08%	21.81%	-0.78%	3.08%	-0.27%
Net Income (Continuing)	25.54M	46.07M	-3.9M	81.25M	17.68M	72.18M	52.9M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	0.45	0.81	-0.07	1.37	0.29	1.23	0.96
EPS Growth %	-	0.8%	-1.08%	21.06%	-0.79%	3.24%	-0.22%
EPS (Basic)	0.45	0.81	-0.07	1.47	0.31	1.30	1.00
Diluted Shares Outstanding	57.15M	57.15M	57.15M	59.32M	61.05M	58.52M	55.06M
Basic Shares Outstanding	57.15M	57.15M	57.15M	55.18M	57.95M	55.51M	52.91M
Dividend Payout Ratio	0.41%	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	81.42M	112.53M	126.74M	375.44M	345.49M	271.35M	266.58M
Cash & Short-Term Investments	35.55M	56.7M	67.65M	315.62M	271.02M	187.41M	187.27M
Cash Only	29.6M	51.01M	62.03M	309.34M	92.09M	46.28M	83.22M
Short-Term Investments	5.95M	5.69M	5.62M	6.28M	178.94M	141.13M	104.05M
Accounts Receivable	11.06M	22.41M	28.69M	30.16M	35.12M	38.17M	35.3M
Days Sales Outstanding	6.93	11.66	26.08	17.67	14.33	13.27	11.98
Inventory	4.83M	5.27M	5.41M	5.41M	7.66M	7.79M	10.47M
Days Inventory Outstanding	3.34	3.75	5.15	4.04	3.9	3.64	11.69
Other Current Assets	17.18M	18.46M	13.89M	10.24M	19.02M	21.12M	19.19M
Total Non-Current Assets+	594.41M	895.35M	926.53M	1B	1.18B	1.35B	1.36B
Property, Plant & Equipment	190.66M	510.19M	546.04M	640.18M	816.98M	993.46M	994.91M
Fixed Asset Turnover	3.05x	1.37x	0.74x	0.97x	1.09x	1.06x	1.08x
Goodwill	222.22M	222.22M	222.22M	222.22M	222.22M	222.22M	222.22M
Intangible Assets	101.11M	97.11M	93.11M	89.11M	85.11M	83.55M	77.84M
Long-Term Investments	0	28.27M	0	-330.07M	0	0	0
Other Non-Current Assets	80.42M	2.13M	28.94M	362.15M	41.65M	53.04M	68.62M
Total Assets+	675.83M	1.01B	1.05B	1.38B	1.52B	1.62B	1.63B
Asset Turnover	0.86x	0.70x	0.38x	0.45x	0.59x	0.65x	0.66x
Asset Growth %	-	0.49%	0.05%	0.31%	0.1%	0.07%	0%
Total Current Liabilities+	222.92M	353.55M	253.74M	281.65M	377.13M	418.58M	422.29M
Accounts Payable	28.67M	43.9M	34.03M	39.8M	62.37M	59.01M	56.03M
Days Payables Outstanding	19.84	31.26	32.4	29.78	31.76	27.6	62.59
Short-Term Debt	8.61M	13.2M	26.12M	29.41M	57.55M	74.18M	87.58M
Deferred Revenue (Current)	0	1000K	1000K	1000K	0	0	0
Other Current Liabilities	155.02M	26.52M	24.31M	23.67M	186.48M	183.77M	186.03M
Current Ratio	0.37x	0.32x	0.50x	1.33x	0.92x	0.65x	0.63x
Quick Ratio	0.34x	0.30x	0.48x	1.31x	0.90x	0.63x	0.61x
Cash Conversion Cycle	-9.56	-15.84	-1.17	-8.07	-13.53	-10.68	-38.92
Total Non-Current Liabilities+	217.26M	370.6M	515.71M	608.18M	654.57M	690.64M	637.51M
Long-Term Debt	49.82M	73.72M	256.35M	248.01M	294.69M	327.47M	239.54M
Capital Lease Obligations	85.7M	246.92M	208.42M	239.26M	253.14M	249.16M	268.46M
Deferred Tax Liabilities	0	0	0	0	0	9.15M	23.57M
Other Non-Current Liabilities	81.74M	49.97M	50.95M	120.91M	106.74M	104.87M	105.95M
Total Liabilities	440.19M	724.15M	769.45M	889.83M	1.03B	1.11B	1.06B
Total Debt+	150.25M	456.76M	536.83M	545.62M	629.66M	697.78M	619.03M
Net Debt	120.65M	405.76M	474.8M	236.28M	537.58M	651.5M	535.82M
Debt / Equity	0.64x	1.61x	1.89x	1.11x	1.28x	1.36x	1.09x
Debt / EBITDA	3.43x	4.04x	8.20x	2.94x	5.10x	3.22x	3.05x
Net Debt / EBITDA	2.75x	3.59x	7.25x	1.27x	4.36x	3.00x	2.64x
Interest Coverage	-	4.55x	0.79x	4.25x	1.80x	2.99x	2.39x
Total Equity+	235.65M	283.72M	283.82M	490.59M	492.71M	514.4M	570.37M
Equity Growth %	-	0.2%	0%	0.73%	0%	0.04%	0.11%
Book Value per Share	4.12	4.96	4.97	8.27	8.07	8.79	10.36
Total Shareholders' Equity	235.65M	283.72M	283.82M	490.59M	492.71M	514.4M	570.37M
Common Stock	239.14M	239.14M	468K	579K	582K	589K	595K
Retained Earnings	-367K	42.23M	38.32M	4.37M	22.05M	94.23M	147.13M
Treasury Stock	0	0	0	0	-17.61M	-94.34M	-105.87M
Accumulated OCI	-3.5M	-3.5M	-3.5M	0	-807K	-62K	-92K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	18.35M	63.27M	374K	152M	127.44M	174.12M	164.86M
Operating CF Margin %	0.03%	0.09%	0%	0.24%	0.14%	0.17%	0.15%
Operating CF Growth %	-	2.45%	-0.99%	405.42%	-0.16%	0.37%	-0.05%
Net Income	25.54M	46.07M	-3.9M	77.47M	17.68M	72.18M	52.9M
Depreciation & Amortization	16.93M	34.88M	48.09M	55.02M	67.64M	89.45M	96.7M
Stock-Based Compensation	373K	0	2.11M	5.56M	2.77M	9.27M	6.02M
Deferred Taxes	147K	14.02M	-789K	1.08M	9.89M	21.55M	14.43M
Other Non-Cash Items	-5.2M	11.82M	31.47M	3.09M	4.92M	6.79M	459K
Working Capital Changes	-18.57M	-43.52M	-76.6M	9.78M	24.53M	-25.13M	-5.65M
Change in Receivables	21.51M	-11.35M	-6.28M	-481K	-3.31M	-2.67M	11.22M
Change in Inventory	-137K	-869K	-614K	-484K	-3.01M	-1.46M	-5.04M
Change in Payables	11.98M	9.04M	-7.17M	5.82M	17.62M	-3.03M	-2.96M
Cash from Investing+	-83.42M	-69.56M	-96.03M	-117M	-349.33M	-171.23M	8.4M
Capital Expenditures	-81.26M	-69.82M	-96.3M	-116.3M	-187.92M	-218.16M	-47.33M
CapEx % of Revenue	0.14%	0.1%	0.24%	0.19%	0.21%	0.21%	0.04%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-2.15M	0	0	-700K	12.55M	4.95M	18.01M
Cash from Financing+	91.51M	27.33M	101.54M	212.4M	7.03M	-42.14M	-136.47M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-10.55M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	47.87M	-557K	-4.19M	-6.69M	-636K	-1.59M	-2.87M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-62.92M	-6.54M	-95.92M	35.7M	-60.48M	-44.04M	117.53M
FCF Margin %	-0.11%	-0.01%	-0.24%	0.06%	-0.07%	-0.04%	0.11%
FCF Growth %	-	0.9%	-13.66%	1.37%	-2.69%	0.27%	3.67%
FCF per Share	-1.10	-0.11	-1.68	0.60	-0.99	-0.75	2.13
FCF Conversion (FCF/Net Income)	0.72x	1.37x	-0.10x	1.87x	7.21x	2.41x	3.12x
Interest Paid	0	0	20.3M	23.6M	24.05M	41.45M	42.78M
Taxes Paid	0	0	47K	172K	1.69M	1.5M	392K

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.84%	17.74%	-1.38%	20.98%	3.6%	14.33%	9.75%
Return on Invested Capital (ROIC)	5.67%	11.21%	1.8%	11.3%	4.76%	8.71%	7%
Gross Margin	9.43%	26.92%	4.51%	21.37%	19.87%	25.64%	69.62%
Net Margin	4.39%	6.57%	-0.97%	13.04%	1.98%	6.88%	4.92%
Debt / Equity	0.64x	1.61x	1.89x	1.11x	1.28x	1.36x	1.09x
Interest Coverage	-	4.55x	0.79x	4.25x	1.80x	2.99x	2.39x
FCF Conversion	0.72x	1.37x	-0.10x	1.87x	7.21x	2.41x	3.12x
Revenue Growth	-	20.43%	-42.76%	55.18%	43.57%	17.35%	2.49%

Revenue by Segment

	2021	2022	2023	2024
Passenger	523.95M	792.43M	920.12M	914.09M
Passenger Growth	-	51.24%	16.11%	-0.66%
Scheduled service	279.38M	438.31M	453.86M	409.13M
Scheduled service Growth	-	56.89%	3.55%	-9.86%
Ancillary	117.24M	192.51M	276.13M	307.91M
Ancillary Growth	-	64.20%	43.44%	11.51%
Charter service	127.33M	161.62M	190.13M	197.04M
Charter service Growth	-	26.93%	17.64%	3.64%
Cargo and Freight	-	90.35M	99.73M	107.17M
Cargo and Freight Growth	-	-	10.39%	7.46%
Service, Other	-	11.66M	29.76M	54.48M
Service, Other Growth	-	-	155.23%	83.05%
Cargo	91.43M	-	-	-
Cargo Growth	-	-	-	-
Other	7.64M	-	-	-
Other Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	857.76M	1.01B	1.04B
UNITED STATES Growth	-	-	17.58%	3.05%
Latin America	24.65M	36.54M	40.55M	36.4M
Latin America Growth	-	48.25%	10.98%	-10.23%
Other Countries	1.36M	143K	490K	-
Other Countries Growth	-	-89.52%	242.66%	-
Domestic	597M	-	-	-
Domestic Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Sun Country Airlines Holdings, Inc. (SNCY) has a price-to-earnings (P/E) ratio of 18.3x. This is roughly in line with market averages.

Growth & Financials

Sun Country Airlines Holdings, Inc. (SNCY) reported $1.11B in revenue for fiscal year 2024. This represents a 90% increase from $582.4M in 2018.

Sun Country Airlines Holdings, Inc. (SNCY) grew revenue by 2.5% over the past year. Growth has been modest.

Yes, Sun Country Airlines Holdings, Inc. (SNCY) is profitable, generating $58.1M in net income for fiscal year 2024 (4.9% net margin).

Dividend & Returns

Sun Country Airlines Holdings, Inc. (SNCY) has a return on equity (ROE) of 9.8%. This is below average, suggesting room for improvement.

Sun Country Airlines Holdings, Inc. (SNCY) generated $134.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.