Mesa Air Group, Inc. (MESA) 10-Year Financial Performance & Capital Metrics

MESA • • Industrial / General

IndustrialsAirlines & AirportsRegional AirlinesUS Regional Carriers

AboutMesa Air Group, Inc. operates as the holding company for Mesa Airlines, Inc. that provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. It also engages in leasing aircrafts to third parties. As of September 30, 2021, the company operated a fleet of 167 aircraft, which include 153 owned aircrafts and 14 leased aircrafts with approximately 507 daily departures to 129 cities in the United States and Mexico. Mesa Air Group, Inc. was founded in 1982 and is headquartered in Phoenix, Arizona.Show more

Revenue $476M -4.3%
EBITDA -$26M -7.5%
Net Income -$91M +24.2%
EPS (Diluted) -497.25 +27.3%
Gross Margin 12.46% +310.8%
EBITDA Margin -5.41% -12.4%
Operating Margin -13.82% +18.4%
Net Margin -19.1% +20.8%
ROE -58.67% -24.1%
ROIC -8.8% -10.8%
Debt/Equity 2.90 +7.3%
Interest Coverage -1.71 -1.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 99 (top 1%)
✓Trading near 52-week high
✓Trading at only 0.0x book value

✗Weaknesses

✗High debt to equity ratio of 2.9x
✗Sales declining 8.0% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-9.54%

5Y-8.01%

3Y-1.83%

TTM-19.93%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-82.89%

EPS CAGR

10Y-

5Y-

3Y-

TTM-82.35%

ROCE

10Y Avg0.39%

5Y Avg-5.78%

3Y Avg-13.71%

Latest-12.5%

Peer Comparison

US Regional Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SKYWSkyWest, Inc.	4.01B	100.11	12.88	20.18%	10.92%	16.23%	9.07%	1.15
MESAMesa Air Group, Inc.	879.48M	21.00	-0.04	-4.35%	-43.64%	-58.67%	1.58%	2.90

Profit & Loss

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	1.33B	587.84M	643.58M	681.6M	723.36M	545.07M	503.59M	531M	498.06M	476.41M
Revenue Growth %	0.02%	-0.56%	0.09%	0.06%	0.06%	-0.25%	-0.08%	0.05%	-0.06%	-0.04%
Cost of Goods Sold+	1.22B	488.9M	504.29M	540.19M	542.15M	492.46M	501.98M	497.46M	482.95M	417.04M
COGS % of Revenue	0.92%	0.83%	0.78%	0.79%	0.75%	0.9%	1%	0.94%	0.97%	0.88%
Gross Profit+	104.39M	98.94M	139.29M	141.4M	181.2M	52.61M	1.62M	33.54M	15.11M	59.37M
Gross Margin %	0.08%	0.17%	0.22%	0.21%	0.25%	0.1%	0%	0.06%	0.03%	0.12%
Gross Profit Growth %	-0.26%	-0.05%	0.41%	0.02%	0.28%	-0.71%	-0.97%	19.75%	-0.55%	2.93%
Operating Expenses+	94.39M	42.18M	39M	68.76M	60.07M	-27.56M	-61.58M	218.54M	99.46M	125.19M
OpEx % of Revenue	0.07%	0.07%	0.06%	0.1%	0.08%	-0.05%	-0.12%	0.41%	0.2%	0.26%
Selling, General & Admin	87.8M	42.18M	39M	53.65M	50.53M	52.25M	49.85M	43.97M	48.77M	44.25M
SG&A % of Revenue	0.07%	0.07%	0.06%	0.08%	0.07%	0.1%	0.1%	0.08%	0.1%	0.09%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	6.59M	0	0	15.11M	9.54M	-79.81M	-111.44M	174.57M	50.69M	80.95M
Operating Income+	10.01M	56.76M	100.29M	72.65M	121.14M	80.17M	63.2M	-185M	-84.35M	-65.82M
Operating Margin %	0.01%	0.1%	0.16%	0.11%	0.17%	0.15%	0.13%	-0.35%	-0.17%	-0.14%
Operating Income Growth %	1.14%	4.67%	0.77%	-0.28%	0.67%	-0.34%	-0.21%	-3.93%	0.54%	0.22%
EBITDA+	47.66M	102.78M	161.34M	137.68M	199.13M	162.46M	146.04M	-103.49M	-23.99M	-25.78M
EBITDA Margin %	0.04%	0.17%	0.25%	0.2%	0.28%	0.3%	0.29%	-0.19%	-0.05%	-0.05%
EBITDA Growth %	2.02%	1.16%	0.57%	-0.15%	0.45%	-0.18%	-0.1%	-1.71%	0.77%	-0.07%
D&A (Non-Cash Add-back)	37.66M	46.02M	61.05M	65.03M	77.99M	82.3M	82.85M	81.51M	60.36M	40.04M
EBIT	34.67M	57.46M	99.81M	72.7M	119M	81.11M	57.15M	-199.38M	-78.94M	-52.04M
Net Interest Income+	-29.57M	-32.29M	-46.08M	-56.75M	-54.22M	-44.02M	-34.37M	-35.15M	-49.77M	-38.39M
Interest Income	6.51M	325K	32K	114K	1.5M	105K	365K	139K	146K	68K
Interest Expense	36.08M	32.62M	46.11M	56.87M	55.72M	44.12M	34.73M	35.29M	49.92M	38.45M
Other Income/Expense	-11.42M	-31.91M	-46.59M	-56.82M	-57.85M	-43.17M	-40.78M	-49.67M	-44.52M	-24.68M
Pretax Income+	-1.41M	24.85M	53.7M	15.83M	63.29M	36.99M	22.42M	-234.67M	-128.86M	-90.5M
Pretax Margin %	-0%	0.04%	0.08%	0.02%	0.09%	0.07%	0.04%	-0.44%	-0.26%	-0.19%
Income Tax+	4.32M	9.93M	20.87M	-17.43M	15.71M	9.53M	5.83M	-51.99M	-8.74M	519K
Effective Tax Rate %	20.65%	0.6%	0.61%	2.1%	0.75%	0.74%	0.74%	0.78%	0.93%	1.01%
Net Income+	-29.16M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
Net Margin %	-0.02%	0.03%	0.05%	0.05%	0.07%	0.05%	0.03%	-0.34%	-0.24%	-0.19%
Net Income Growth %	0.64%	1.51%	1.2%	0.01%	0.43%	-0.42%	-0.4%	-12.01%	0.34%	0.24%
Net Income (Continuing)	-5.74M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
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)+	-240.75	139.50	315.00	297.00	306.00	175.50	96.75	-1138.50	-684.00	-497.25
EPS Growth %	0.59%	1.58%	1.26%	-0.06%	0.03%	-0.43%	-0.45%	-12.77%	0.4%	0.27%
EPS (Basic)	-240.75	351.00	677.25	297.00	308.25	175.50	103.50	-1138.50	-684.00	-497.25
Diluted Shares Outstanding	120.64K	107.03K	103.94K	111.87K	155.84K	156.92K	172.64K	160.59K	175.4K	182.83K
Basic Shares Outstanding	120.64K	42.48K	48.53K	111.87K	154.51K	156.61K	158.72K	160.59K	175.4K	182.83K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	335.05M	105.17M	145.84M	197.92M	157.84M	155.59M	158.39M	98.33M	138.59M	61.28M
Cash & Short-Term Investments	50.99M	37.69M	56.79M	123.23M	68.86M	99.39M	120.52M	57.68M	32.94M	15.62M
Cash Only	50.76M	37.69M	56.79M	103.31M	68.86M	99.39M	120.52M	57.68M	32.94M	15.62M
Short-Term Investments	224K	0	0	19.92M	0	0	0	0	0	0
Accounts Receivable	33.16M	9.3M	8.85M	14.29M	23.08M	13.71M	3.17M	3.98M	8.25M	5.26M
Days Sales Outstanding	9.13	5.77	5.02	7.65	11.65	9.18	2.3	2.73	6.05	4.03
Inventory	31.07M	12.15M	15.11M	15.66M	21.34M	22.97M	24.47M	26.71M	29.25M	28.27M
Days Inventory Outstanding	9.28	9.07	10.94	10.58	14.37	17.03	17.79	19.6	22.1	24.74
Other Current Assets	57.13M	13.23M	11.44M	14.47M	8.78M	17.12M	4.4M	4.76M	63.62M	9.35M
Total Non-Current Assets+	624.16M	1.18B	1.21B	1.27B	1.29B	1.35B	1.3B	1.02B	759.88M	535.58M
Property, Plant & Equipment	577.18M	1.16B	1.19B	1.25B	1.28B	1.34B	1.25B	914.43M	709.36M	434.87M
Fixed Asset Turnover	2.30x	0.51x	0.54x	0.54x	0.57x	0.41x	0.40x	0.58x	0.70x	1.10x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	12.11M	11.72M	11.34M	9.53M	8.03M	6.79M	3.84M	0	0
Long-Term Investments	13.7M	0	0	0	0	0	25.15M	15.18M	20.32M	300K
Other Non-Current Assets	33.28M	8.36M	5.69M	9.7M	8.79M	742K	14.47M	83.82M	30.2M	100.41M
Total Assets+	959.21M	1.28B	1.36B	1.47B	1.45B	1.5B	1.46B	1.12B	898.47M	596.86M
Asset Turnover	1.38x	0.46x	0.47x	0.46x	0.50x	0.36x	0.35x	0.48x	0.55x	0.80x
Asset Growth %	-0.22%	0.34%	0.06%	0.08%	-0.01%	0.03%	-0.03%	-0.23%	-0.19%	-0.34%
Total Current Liabilities+	272.41M	191.85M	218.21M	251.38M	256.71M	353.33M	258.19M	214.48M	267.91M	174.46M
Accounts Payable	28.9M	52.96M	44.74M	54.31M	49.93M	53.23M	61.48M	59.39M	58.96M	72.1M
Days Payables Outstanding	8.63	39.54	32.38	36.69	33.62	39.45	44.7	43.57	44.56	63.1
Short-Term Debt	145.85M	109.9M	140.47M	155.17M	165.9M	189.27M	111.71M	97.22M	163.55M	50.45M
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	1000K	385K	1000K	1000K
Other Current Liabilities	39.62M	11.3M	11.74M	17.68M	18.12M	29.32M	19.32M	17.68M	18.22M	21.29M
Current Ratio	1.23x	0.55x	0.67x	0.79x	0.61x	0.44x	0.61x	0.46x	0.52x	0.35x
Quick Ratio	1.12x	0.48x	0.60x	0.73x	0.53x	0.38x	0.52x	0.33x	0.41x	0.19x
Cash Conversion Cycle	9.78	-24.69	-16.42	-18.46	-7.6	-13.24	-24.61	-21.24	-16.41	-34.32
Total Non-Current Liabilities+	577.14M	902.23M	917.21M	846.54M	769.34M	690.75M	710.36M	592.95M	430.52M	312.16M
Long-Term Debt	420.88M	803.12M	803.87M	760.18M	677.42M	542.46M	539.7M	502.52M	364.73M	259.82M
Capital Lease Obligations	0	0	0	0	0	62.53M	40.35M	17.78M	9.13M	7.91M
Deferred Tax Liabilities	15.73M	35.92M	56.44M	39.8M	55.3M	64.28M	69.94M	17.72M	8.41M	8.17M
Other Non-Current Liabilities	140.53M	63.19M	56.9M	46.57M	36.62M	7.11M	32.17M	31.25M	32.09M	30.55M
Total Liabilities	849.55M	1.09B	1.14B	1.1B	1.03B	1.04B	968.55M	807.43M	698.43M	486.62M
Total Debt+	566.73M	913.02M	944.34M	915.35M	843.32M	838.19M	727.73M	634.85M	540.91M	319.87M
Net Debt	515.97M	875.33M	887.55M	812.04M	774.47M	738.79M	607.21M	577.16M	507.98M	304.24M
Debt / Equity	5.17x	4.83x	4.25x	2.44x	1.98x	1.83x	1.49x	2.06x	2.70x	2.90x
Debt / EBITDA	11.89x	8.88x	5.85x	6.65x	4.24x	5.16x	4.98x	-	-	-
Net Debt / EBITDA	10.83x	8.52x	5.50x	5.90x	3.89x	4.55x	4.16x	-	-	-
Interest Coverage	0.28x	1.74x	2.18x	1.28x	2.17x	1.82x	1.82x	-5.24x	-1.69x	-1.71x
Total Equity+	109.66M	189.15M	222.22M	374.47M	425.87M	457.86M	488.05M	308.17M	200.04M	110.24M
Equity Growth %	-0.24%	0.72%	0.17%	0.69%	0.14%	0.08%	0.07%	-0.37%	-0.35%	-0.45%
Book Value per Share	908.93	1767.25	2138.04	3347.31	2732.73	2917.71	2827.03	1919.00	1140.46	602.97
Total Shareholders' Equity	109.66M	189.15M	222.22M	374.47M	425.87M	457.86M	488.05M	308.17M	200.04M	110.24M
Common Stock	0	114.21M	114.46M	234.68M	238.5M	242.77M	256.37M	259.18M	271.15M	272.38M
Retained Earnings	3.79M	74.94M	107.77M	139.78M	187.36M	215.09M	231.68M	49M	-71.12M	-162.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	41.67M	104.49M	74.73M	118.94M	151.68M	174.66M	132.87M	13.36M	-24.09M	34.24M
Operating CF Margin %	0.03%	0.18%	0.12%	0.17%	0.21%	0.32%	0.26%	0.03%	-0.05%	0.07%
Operating CF Growth %	-0.59%	1.51%	-0.28%	0.59%	0.28%	0.15%	-0.24%	-0.9%	-2.8%	2.42%
Net Income	-29.16M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
Depreciation & Amortization	37.66M	46.02M	61.05M	65.03M	77.99M	82.3M	82.85M	81.51M	60.36M	40.04M
Stock-Based Compensation	0	1.55M	1.29M	12.93M	5.51M	4.41M	3.13M	2.76M	2.27M	1.33M
Deferred Taxes	1.16M	9.51M	20.52M	-17.87M	15.5M	9.23M	5.67M	-52.22M	-9.3M	-242K
Other Non-Cash Items	127.66M	-6.59M	-7.07M	9.19M	7.16M	15.23M	19.85M	190.91M	53.37M	70.59M
Working Capital Changes	-95.65M	39.09M	-33.88M	16.41M	-2.07M	36.02M	4.79M	-26.92M	-10.68M	13.54M
Change in Receivables	-62.91M	1.91M	530K	-5.44M	-9.28M	38.19M	-8.09M	-811K	-4.28M	2.99M
Change in Inventory	3.35M	-1.68M	-3.38M	-744K	-6.31M	-1.53M	-1.86M	-2.88M	-2.53M	-1.33M
Change in Payables	-4.83M	29.67M	-17.34M	2.43M	12.12M	3.42M	7.86M	-2.77M	496K	13.74M
Cash from Investing+	7.02M	-491.13M	-84.12M	-138.83M	-104.84M	-26.67M	-33.47M	1.36M	142.28M	148.79M
Capital Expenditures	-3.48M	-490.08M	-84.5M	-117.99M	-125.35M	-26.67M	-17.15M	-48.44M	-36.64M	-20.31M
CapEx % of Revenue	0%	0.83%	0.13%	0.17%	0.17%	0.05%	0.03%	0.09%	0.07%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.08M	-491.13M	-84.12M	-917K	-124.92M	0	-6.32M	50M	282K	159.48M
Cash from Financing+	-70.3M	365.85M	28.5M	66.41M	-81.47M	-117.66M	-78.37M	-77.57M	-143.15M	-200.47M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11K	-10.09M	-3.38M	-12.54M	185K	0	0	0	-363K	-1.06M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	38.2M	-385.59M	-9.77M	950K	26.33M	148M	109.4M	-35.07M	-60.73M	13.93M
FCF Margin %	0.03%	-0.66%	-0.02%	0%	0.04%	0.27%	0.22%	-0.07%	-0.12%	0.03%
FCF Growth %	-0.09%	-11.1%	0.97%	1.1%	26.71%	4.62%	-0.26%	-1.32%	-0.73%	1.23%
FCF per Share	316.60	-3602.59	-94.03	8.49	168.93	943.10	633.70	-218.40	-346.25	76.20
FCF Conversion (FCF/Net Income)	-1.43x	7.00x	2.28x	3.58x	3.19x	6.36x	8.01x	-0.07x	0.20x	-0.38x
Interest Paid	35.89M	28.69M	43.8M	50.67M	53.5M	41.5M	32.77M	24.89M	38.41M	0
Taxes Paid	1.77M	196K	332K	385K	419K	398K	404K	487K	419K	0

Key Ratios

Metric	2008	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-22.89%	9.99%	15.96%	11.15%	11.89%	6.22%	3.51%	-45.89%	-47.27%	-58.67%
Return on Invested Capital (ROIC)	1.12%	5.04%	6.92%	4.75%	7.61%	5.02%	4.14%	-14.01%	-7.94%	-8.8%
Gross Margin	7.87%	16.83%	21.64%	20.75%	25.05%	9.65%	0.32%	6.32%	3.03%	12.46%
Net Margin	-2.2%	2.54%	5.1%	4.88%	6.58%	5.04%	3.29%	-34.4%	-24.12%	-19.1%
Debt / Equity	5.17x	4.83x	4.25x	2.44x	1.98x	1.83x	1.49x	2.06x	2.70x	2.90x
Interest Coverage	0.28x	1.74x	2.18x	1.28x	2.17x	1.82x	1.82x	-5.24x	-1.69x	-1.71x
FCF Conversion	-1.43x	7.00x	2.28x	3.58x	3.19x	6.36x	8.01x	-0.07x	0.20x	-0.38x
Revenue Growth	2.16%	-55.67%	9.48%	5.91%	6.13%	-24.65%	-7.61%	5.44%	-6.2%	-4.35%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Contract Revenue	359.47M	376.51M	506.59M	434.52M	478.48M	421.3M	404.32M
Contract Revenue Growth	-	4.74%	34.55%	-14.23%	10.12%	-11.95%	-4.03%
Pass Through And Other Revenue	-	-	-	69.07M	52.52M	76.77M	72.09M
Pass Through And Other Revenue Growth	-	-	-	-	-23.97%	46.17%	-6.10%
Pass Through And Other	6.63M	7.26M	38.48M	-	-	-	-
Pass Through And Other Growth	-	9.49%	430.25%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Mesa Air Group, Inc. (MESA) reported $381.4M in revenue for fiscal year 2024. This represents a 57% decrease from $896.8M in 2004.

Mesa Air Group, Inc. (MESA) saw revenue decline by 4.3% over the past year.

Mesa Air Group, Inc. (MESA) reported a net loss of $166.5M for fiscal year 2024.

Dividend & Returns

Mesa Air Group, Inc. (MESA) has a return on equity (ROE) of -58.7%. Negative ROE indicates the company is unprofitable.

Mesa Air Group, Inc. (MESA) had negative free cash flow of $53.3M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Mesa Air Group, Inc. (MESA) 10-Year Financial Performance & Capital Metrics

MESA • • Industrial / General

IndustrialsAirlines & AirportsRegional AirlinesUS Regional Carriers

Revenue $476M -4.3%
EBITDA -$26M -7.5%
Net Income -$91M +24.2%
EPS (Diluted) -497.25 +27.3%
Gross Margin 12.46% +310.8%
EBITDA Margin -5.41% -12.4%
Operating Margin -13.82% +18.4%
Net Margin -19.1% +20.8%
ROE -58.67% -24.1%
ROIC -8.8% -10.8%
Debt/Equity 2.90 +7.3%
Interest Coverage -1.71 -1.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 99 (top 1%)
✓Trading near 52-week high
✓Trading at only 0.0x book value

✗Weaknesses

✗High debt to equity ratio of 2.9x
✗Sales declining 8.0% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-9.54%

5Y-8.01%

3Y-1.83%

TTM-19.93%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-82.89%

EPS CAGR

10Y-

5Y-

3Y-

TTM-82.35%

ROCE

10Y Avg0.39%

5Y Avg-5.78%

3Y Avg-13.71%

Latest-12.5%

Peer Comparison

US Regional Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SKYWSkyWest, Inc.	4.01B	100.11	12.88	20.18%	10.92%	16.23%	9.07%	1.15
MESAMesa Air Group, Inc.	879.48M	21.00	-0.04	-4.35%	-43.64%	-58.67%	1.58%	2.90

Profit & Loss

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	1.33B	587.84M	643.58M	681.6M	723.36M	545.07M	503.59M	531M	498.06M	476.41M
Revenue Growth %	0.02%	-0.56%	0.09%	0.06%	0.06%	-0.25%	-0.08%	0.05%	-0.06%	-0.04%
Cost of Goods Sold+	1.22B	488.9M	504.29M	540.19M	542.15M	492.46M	501.98M	497.46M	482.95M	417.04M
COGS % of Revenue	0.92%	0.83%	0.78%	0.79%	0.75%	0.9%	1%	0.94%	0.97%	0.88%
Gross Profit+	104.39M	98.94M	139.29M	141.4M	181.2M	52.61M	1.62M	33.54M	15.11M	59.37M
Gross Margin %	0.08%	0.17%	0.22%	0.21%	0.25%	0.1%	0%	0.06%	0.03%	0.12%
Gross Profit Growth %	-0.26%	-0.05%	0.41%	0.02%	0.28%	-0.71%	-0.97%	19.75%	-0.55%	2.93%
Operating Expenses+	94.39M	42.18M	39M	68.76M	60.07M	-27.56M	-61.58M	218.54M	99.46M	125.19M
OpEx % of Revenue	0.07%	0.07%	0.06%	0.1%	0.08%	-0.05%	-0.12%	0.41%	0.2%	0.26%
Selling, General & Admin	87.8M	42.18M	39M	53.65M	50.53M	52.25M	49.85M	43.97M	48.77M	44.25M
SG&A % of Revenue	0.07%	0.07%	0.06%	0.08%	0.07%	0.1%	0.1%	0.08%	0.1%	0.09%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	6.59M	0	0	15.11M	9.54M	-79.81M	-111.44M	174.57M	50.69M	80.95M
Operating Income+	10.01M	56.76M	100.29M	72.65M	121.14M	80.17M	63.2M	-185M	-84.35M	-65.82M
Operating Margin %	0.01%	0.1%	0.16%	0.11%	0.17%	0.15%	0.13%	-0.35%	-0.17%	-0.14%
Operating Income Growth %	1.14%	4.67%	0.77%	-0.28%	0.67%	-0.34%	-0.21%	-3.93%	0.54%	0.22%
EBITDA+	47.66M	102.78M	161.34M	137.68M	199.13M	162.46M	146.04M	-103.49M	-23.99M	-25.78M
EBITDA Margin %	0.04%	0.17%	0.25%	0.2%	0.28%	0.3%	0.29%	-0.19%	-0.05%	-0.05%
EBITDA Growth %	2.02%	1.16%	0.57%	-0.15%	0.45%	-0.18%	-0.1%	-1.71%	0.77%	-0.07%
D&A (Non-Cash Add-back)	37.66M	46.02M	61.05M	65.03M	77.99M	82.3M	82.85M	81.51M	60.36M	40.04M
EBIT	34.67M	57.46M	99.81M	72.7M	119M	81.11M	57.15M	-199.38M	-78.94M	-52.04M
Net Interest Income+	-29.57M	-32.29M	-46.08M	-56.75M	-54.22M	-44.02M	-34.37M	-35.15M	-49.77M	-38.39M
Interest Income	6.51M	325K	32K	114K	1.5M	105K	365K	139K	146K	68K
Interest Expense	36.08M	32.62M	46.11M	56.87M	55.72M	44.12M	34.73M	35.29M	49.92M	38.45M
Other Income/Expense	-11.42M	-31.91M	-46.59M	-56.82M	-57.85M	-43.17M	-40.78M	-49.67M	-44.52M	-24.68M
Pretax Income+	-1.41M	24.85M	53.7M	15.83M	63.29M	36.99M	22.42M	-234.67M	-128.86M	-90.5M
Pretax Margin %	-0%	0.04%	0.08%	0.02%	0.09%	0.07%	0.04%	-0.44%	-0.26%	-0.19%
Income Tax+	4.32M	9.93M	20.87M	-17.43M	15.71M	9.53M	5.83M	-51.99M	-8.74M	519K
Effective Tax Rate %	20.65%	0.6%	0.61%	2.1%	0.75%	0.74%	0.74%	0.78%	0.93%	1.01%
Net Income+	-29.16M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
Net Margin %	-0.02%	0.03%	0.05%	0.05%	0.07%	0.05%	0.03%	-0.34%	-0.24%	-0.19%
Net Income Growth %	0.64%	1.51%	1.2%	0.01%	0.43%	-0.42%	-0.4%	-12.01%	0.34%	0.24%
Net Income (Continuing)	-5.74M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
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)+	-240.75	139.50	315.00	297.00	306.00	175.50	96.75	-1138.50	-684.00	-497.25
EPS Growth %	0.59%	1.58%	1.26%	-0.06%	0.03%	-0.43%	-0.45%	-12.77%	0.4%	0.27%
EPS (Basic)	-240.75	351.00	677.25	297.00	308.25	175.50	103.50	-1138.50	-684.00	-497.25
Diluted Shares Outstanding	120.64K	107.03K	103.94K	111.87K	155.84K	156.92K	172.64K	160.59K	175.4K	182.83K
Basic Shares Outstanding	120.64K	42.48K	48.53K	111.87K	154.51K	156.61K	158.72K	160.59K	175.4K	182.83K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	335.05M	105.17M	145.84M	197.92M	157.84M	155.59M	158.39M	98.33M	138.59M	61.28M
Cash & Short-Term Investments	50.99M	37.69M	56.79M	123.23M	68.86M	99.39M	120.52M	57.68M	32.94M	15.62M
Cash Only	50.76M	37.69M	56.79M	103.31M	68.86M	99.39M	120.52M	57.68M	32.94M	15.62M
Short-Term Investments	224K	0	0	19.92M	0	0	0	0	0	0
Accounts Receivable	33.16M	9.3M	8.85M	14.29M	23.08M	13.71M	3.17M	3.98M	8.25M	5.26M
Days Sales Outstanding	9.13	5.77	5.02	7.65	11.65	9.18	2.3	2.73	6.05	4.03
Inventory	31.07M	12.15M	15.11M	15.66M	21.34M	22.97M	24.47M	26.71M	29.25M	28.27M
Days Inventory Outstanding	9.28	9.07	10.94	10.58	14.37	17.03	17.79	19.6	22.1	24.74
Other Current Assets	57.13M	13.23M	11.44M	14.47M	8.78M	17.12M	4.4M	4.76M	63.62M	9.35M
Total Non-Current Assets+	624.16M	1.18B	1.21B	1.27B	1.29B	1.35B	1.3B	1.02B	759.88M	535.58M
Property, Plant & Equipment	577.18M	1.16B	1.19B	1.25B	1.28B	1.34B	1.25B	914.43M	709.36M	434.87M
Fixed Asset Turnover	2.30x	0.51x	0.54x	0.54x	0.57x	0.41x	0.40x	0.58x	0.70x	1.10x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	12.11M	11.72M	11.34M	9.53M	8.03M	6.79M	3.84M	0	0
Long-Term Investments	13.7M	0	0	0	0	0	25.15M	15.18M	20.32M	300K
Other Non-Current Assets	33.28M	8.36M	5.69M	9.7M	8.79M	742K	14.47M	83.82M	30.2M	100.41M
Total Assets+	959.21M	1.28B	1.36B	1.47B	1.45B	1.5B	1.46B	1.12B	898.47M	596.86M
Asset Turnover	1.38x	0.46x	0.47x	0.46x	0.50x	0.36x	0.35x	0.48x	0.55x	0.80x
Asset Growth %	-0.22%	0.34%	0.06%	0.08%	-0.01%	0.03%	-0.03%	-0.23%	-0.19%	-0.34%
Total Current Liabilities+	272.41M	191.85M	218.21M	251.38M	256.71M	353.33M	258.19M	214.48M	267.91M	174.46M
Accounts Payable	28.9M	52.96M	44.74M	54.31M	49.93M	53.23M	61.48M	59.39M	58.96M	72.1M
Days Payables Outstanding	8.63	39.54	32.38	36.69	33.62	39.45	44.7	43.57	44.56	63.1
Short-Term Debt	145.85M	109.9M	140.47M	155.17M	165.9M	189.27M	111.71M	97.22M	163.55M	50.45M
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	1000K	385K	1000K	1000K
Other Current Liabilities	39.62M	11.3M	11.74M	17.68M	18.12M	29.32M	19.32M	17.68M	18.22M	21.29M
Current Ratio	1.23x	0.55x	0.67x	0.79x	0.61x	0.44x	0.61x	0.46x	0.52x	0.35x
Quick Ratio	1.12x	0.48x	0.60x	0.73x	0.53x	0.38x	0.52x	0.33x	0.41x	0.19x
Cash Conversion Cycle	9.78	-24.69	-16.42	-18.46	-7.6	-13.24	-24.61	-21.24	-16.41	-34.32
Total Non-Current Liabilities+	577.14M	902.23M	917.21M	846.54M	769.34M	690.75M	710.36M	592.95M	430.52M	312.16M
Long-Term Debt	420.88M	803.12M	803.87M	760.18M	677.42M	542.46M	539.7M	502.52M	364.73M	259.82M
Capital Lease Obligations	0	0	0	0	0	62.53M	40.35M	17.78M	9.13M	7.91M
Deferred Tax Liabilities	15.73M	35.92M	56.44M	39.8M	55.3M	64.28M	69.94M	17.72M	8.41M	8.17M
Other Non-Current Liabilities	140.53M	63.19M	56.9M	46.57M	36.62M	7.11M	32.17M	31.25M	32.09M	30.55M
Total Liabilities	849.55M	1.09B	1.14B	1.1B	1.03B	1.04B	968.55M	807.43M	698.43M	486.62M
Total Debt+	566.73M	913.02M	944.34M	915.35M	843.32M	838.19M	727.73M	634.85M	540.91M	319.87M
Net Debt	515.97M	875.33M	887.55M	812.04M	774.47M	738.79M	607.21M	577.16M	507.98M	304.24M
Debt / Equity	5.17x	4.83x	4.25x	2.44x	1.98x	1.83x	1.49x	2.06x	2.70x	2.90x
Debt / EBITDA	11.89x	8.88x	5.85x	6.65x	4.24x	5.16x	4.98x	-	-	-
Net Debt / EBITDA	10.83x	8.52x	5.50x	5.90x	3.89x	4.55x	4.16x	-	-	-
Interest Coverage	0.28x	1.74x	2.18x	1.28x	2.17x	1.82x	1.82x	-5.24x	-1.69x	-1.71x
Total Equity+	109.66M	189.15M	222.22M	374.47M	425.87M	457.86M	488.05M	308.17M	200.04M	110.24M
Equity Growth %	-0.24%	0.72%	0.17%	0.69%	0.14%	0.08%	0.07%	-0.37%	-0.35%	-0.45%
Book Value per Share	908.93	1767.25	2138.04	3347.31	2732.73	2917.71	2827.03	1919.00	1140.46	602.97
Total Shareholders' Equity	109.66M	189.15M	222.22M	374.47M	425.87M	457.86M	488.05M	308.17M	200.04M	110.24M
Common Stock	0	114.21M	114.46M	234.68M	238.5M	242.77M	256.37M	259.18M	271.15M	272.38M
Retained Earnings	3.79M	74.94M	107.77M	139.78M	187.36M	215.09M	231.68M	49M	-71.12M	-162.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2008	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	41.67M	104.49M	74.73M	118.94M	151.68M	174.66M	132.87M	13.36M	-24.09M	34.24M
Operating CF Margin %	0.03%	0.18%	0.12%	0.17%	0.21%	0.32%	0.26%	0.03%	-0.05%	0.07%
Operating CF Growth %	-0.59%	1.51%	-0.28%	0.59%	0.28%	0.15%	-0.24%	-0.9%	-2.8%	2.42%
Net Income	-29.16M	14.92M	32.83M	33.26M	47.58M	27.46M	16.59M	-182.68M	-120.12M	-91.02M
Depreciation & Amortization	37.66M	46.02M	61.05M	65.03M	77.99M	82.3M	82.85M	81.51M	60.36M	40.04M
Stock-Based Compensation	0	1.55M	1.29M	12.93M	5.51M	4.41M	3.13M	2.76M	2.27M	1.33M
Deferred Taxes	1.16M	9.51M	20.52M	-17.87M	15.5M	9.23M	5.67M	-52.22M	-9.3M	-242K
Other Non-Cash Items	127.66M	-6.59M	-7.07M	9.19M	7.16M	15.23M	19.85M	190.91M	53.37M	70.59M
Working Capital Changes	-95.65M	39.09M	-33.88M	16.41M	-2.07M	36.02M	4.79M	-26.92M	-10.68M	13.54M
Change in Receivables	-62.91M	1.91M	530K	-5.44M	-9.28M	38.19M	-8.09M	-811K	-4.28M	2.99M
Change in Inventory	3.35M	-1.68M	-3.38M	-744K	-6.31M	-1.53M	-1.86M	-2.88M	-2.53M	-1.33M
Change in Payables	-4.83M	29.67M	-17.34M	2.43M	12.12M	3.42M	7.86M	-2.77M	496K	13.74M
Cash from Investing+	7.02M	-491.13M	-84.12M	-138.83M	-104.84M	-26.67M	-33.47M	1.36M	142.28M	148.79M
Capital Expenditures	-3.48M	-490.08M	-84.5M	-117.99M	-125.35M	-26.67M	-17.15M	-48.44M	-36.64M	-20.31M
CapEx % of Revenue	0%	0.83%	0.13%	0.17%	0.17%	0.05%	0.03%	0.09%	0.07%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.08M	-491.13M	-84.12M	-917K	-124.92M	0	-6.32M	50M	282K	159.48M
Cash from Financing+	-70.3M	365.85M	28.5M	66.41M	-81.47M	-117.66M	-78.37M	-77.57M	-143.15M	-200.47M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11K	-10.09M	-3.38M	-12.54M	185K	0	0	0	-363K	-1.06M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	38.2M	-385.59M	-9.77M	950K	26.33M	148M	109.4M	-35.07M	-60.73M	13.93M
FCF Margin %	0.03%	-0.66%	-0.02%	0%	0.04%	0.27%	0.22%	-0.07%	-0.12%	0.03%
FCF Growth %	-0.09%	-11.1%	0.97%	1.1%	26.71%	4.62%	-0.26%	-1.32%	-0.73%	1.23%
FCF per Share	316.60	-3602.59	-94.03	8.49	168.93	943.10	633.70	-218.40	-346.25	76.20
FCF Conversion (FCF/Net Income)	-1.43x	7.00x	2.28x	3.58x	3.19x	6.36x	8.01x	-0.07x	0.20x	-0.38x
Interest Paid	35.89M	28.69M	43.8M	50.67M	53.5M	41.5M	32.77M	24.89M	38.41M	0
Taxes Paid	1.77M	196K	332K	385K	419K	398K	404K	487K	419K	0

Key Ratios

Metric	2008	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-22.89%	9.99%	15.96%	11.15%	11.89%	6.22%	3.51%	-45.89%	-47.27%	-58.67%
Return on Invested Capital (ROIC)	1.12%	5.04%	6.92%	4.75%	7.61%	5.02%	4.14%	-14.01%	-7.94%	-8.8%
Gross Margin	7.87%	16.83%	21.64%	20.75%	25.05%	9.65%	0.32%	6.32%	3.03%	12.46%
Net Margin	-2.2%	2.54%	5.1%	4.88%	6.58%	5.04%	3.29%	-34.4%	-24.12%	-19.1%
Debt / Equity	5.17x	4.83x	4.25x	2.44x	1.98x	1.83x	1.49x	2.06x	2.70x	2.90x
Interest Coverage	0.28x	1.74x	2.18x	1.28x	2.17x	1.82x	1.82x	-5.24x	-1.69x	-1.71x
FCF Conversion	-1.43x	7.00x	2.28x	3.58x	3.19x	6.36x	8.01x	-0.07x	0.20x	-0.38x
Revenue Growth	2.16%	-55.67%	9.48%	5.91%	6.13%	-24.65%	-7.61%	5.44%	-6.2%	-4.35%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Contract Revenue	359.47M	376.51M	506.59M	434.52M	478.48M	421.3M	404.32M
Contract Revenue Growth	-	4.74%	34.55%	-14.23%	10.12%	-11.95%	-4.03%
Pass Through And Other Revenue	-	-	-	69.07M	52.52M	76.77M	72.09M
Pass Through And Other Revenue Growth	-	-	-	-	-23.97%	46.17%	-6.10%
Pass Through And Other	6.63M	7.26M	38.48M	-	-	-	-
Pass Through And Other Growth	-	9.49%	430.25%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Mesa Air Group, Inc. (MESA) reported $381.4M in revenue for fiscal year 2024. This represents a 57% decrease from $896.8M in 2004.

Mesa Air Group, Inc. (MESA) saw revenue decline by 4.3% over the past year.

Mesa Air Group, Inc. (MESA) reported a net loss of $166.5M for fiscal year 2024.

Dividend & Returns

Mesa Air Group, Inc. (MESA) has a return on equity (ROE) of -58.7%. Negative ROE indicates the company is unprofitable.

Mesa Air Group, Inc. (MESA) had negative free cash flow of $53.3M in fiscal year 2024, likely due to heavy capital investments.