Sky Harbour Group Corporation (SKYH) 10-Year Financial Performance & Capital Metrics

SKYH • • Industrial / General

IndustrialsAerospace & DefenseMRO & Aftermarket ServicesAviation MRO Services

AboutSky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company was founded in 2017 and is based in White Plains, New York.Show more

Revenue $15M +94.9%
EBITDA -$18M -20.3%
Net Income -$45M -179.6%
EPS (Diluted) -1.76 -79.6%
Gross Margin 38.22% +611.4%
EBITDA Margin -119.96% +38.2%
Operating Margin -138.3% +38.4%
Net Margin -306.42% -43.5%
ROE -30.97% -120.8%
ROIC -4.06% +0.3%
Debt/Equity 2.02 +10.8%
Interest Coverage -28.55 +9.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 2.0x
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 56.4% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y110.7%

TTM95.23%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM89.84%

EPS CAGR

10Y-

5Y-

3Y-

TTM97.56%

ROCE

10Y Avg-4.97%

5Y Avg-4.74%

3Y Avg-5.14%

Latest-4.45%

Peer Comparison

Aviation MRO Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SAROStandardAero, Inc.	10.89B	32.55	858.84	14.77%	3.15%	7.15%		1.02
AIRAAR Corp.	4.18B	105.74	302.11	19.91%	3.17%	6.03%	0.03%	0.86
VSECVSE Corporation	4.94B	211.34	248.64	25.53%	2.39%	2.7%		0.49
HEIHEICO Corporation	19.74B	358.04	73.07	16.26%	15.39%	14.24%	4.36%	0.45
SKYHSky Harbour Group Corporation	320.54M	9.40	-5.34	94.86%	-17.82%	-2.62%		2.02

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	685.6K	1.58M	1.84M	7.58M	14.76M
Revenue Growth %	-	-	1.3%	0.17%	3.11%	0.95%
Cost of Goods Sold+	0	1.94M	5.04M	5.74M	7.17M	9.12M
COGS % of Revenue	-	2.83%	3.19%	3.11%	0.95%	0.62%
Gross Profit+	0	-1.26M	-3.46M	-3.9M	407K	5.64M
Gross Margin %	-	-1.83%	-2.19%	-2.11%	0.05%	0.38%
Gross Profit Growth %	-	-	-1.76%	-0.13%	1.1%	12.86%
Operating Expenses+	1.56M	837.34K	8.74M	14.71M	17.4M	26.06M
OpEx % of Revenue	-	1.22%	5.54%	7.98%	2.3%	1.77%
Selling, General & Admin	993.5K	837.34K	8.74M	14.71M	15.12M	19.4M
SG&A % of Revenue	-	1.22%	5.54%	7.98%	2%	1.31%
Research & Development	0	0	0	248K	0	0
R&D % of Revenue	-	-	-	0.13%	-	-
Other Operating Expenses	564.34K	0	0	-248K	2.28M	6.66M
Operating Income+	-1.56M	-2.09M	-12.2M	-18.61M	-16.99M	-20.41M
Operating Margin %	-	-3.05%	-7.73%	-10.09%	-2.24%	-1.38%
Operating Income Growth %	-	-0.34%	-4.83%	-0.53%	0.09%	-0.2%
EBITDA+	-1.39M	-2M	-9M	-15.96M	-14.71M	-17.71M
EBITDA Margin %	-	-2.92%	-5.7%	-8.65%	-1.94%	-1.2%
EBITDA Growth %	-	-0.44%	-3.5%	-0.77%	0.08%	-0.2%
D&A (Non-Cash Add-back)	171.86K	93.46K	3.2M	2.65M	2.28M	2.71M
EBIT	0	-2.14M	-12.45M	-13.68M	-24.9M	-52.97M
Net Interest Income+	-198.5K	-395.7K	-1.16M	0	-541K	-715K
Interest Income	0	0	0	0	0	0
Interest Expense	198.5K	395.7K	1.16M	0	541K	715K
Other Income/Expense	-198.5K	-442.72K	-1.41M	4.93M	-8.45M	-33.27M
Pretax Income+	-1.76M	-2.54M	-13.61M	-13.68M	-25.44M	-53.68M
Pretax Margin %	-	-3.7%	-8.62%	-7.41%	-3.36%	-3.64%
Income Tax+	198.5K	0	0	0	0	0
Effective Tax Rate %	1.11%	1%	1%	0.23%	0.64%	0.84%
Net Income+	-1.95M	-2.54M	-13.61M	-3.18M	-16.18M	-45.23M
Net Margin %	-	-3.7%	-8.62%	-1.73%	-2.14%	-3.06%
Net Income Growth %	-	-0.3%	-4.37%	0.77%	-4.08%	-1.8%
Net Income (Continuing)	-1.95M	-2.54M	-13.61M	-13.68M	-25.44M	-53.68M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	72.1M	63.09M	55.72M
EPS (Diluted)+	-0.14	-0.18	-0.91	-0.23	-0.98	-1.76
EPS Growth %	-	-0.29%	-4.06%	0.75%	-3.26%	-0.8%
EPS (Basic)	-0.14	-0.18	-0.91	-0.23	-0.98	-1.76
Diluted Shares Outstanding	13.6M	17M	14.96M	13.96M	16.46M	25.74M
Basic Shares Outstanding	13.6M	17M	14.96M	13.96M	16.46M	25.74M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.02M	140.24M	204.38M	70.74M	164.53M	127.16M
Cash & Short-Term Investments	1.02M	1.12M	6.8M	27.07M	72.12M	42.44M
Cash Only	1.02M	1.12M	6.8M	2.17M	60.26M	42.44M
Short-Term Investments	0	0	0	24.89M	11.87M	0
Accounts Receivable	0	0	103K	83K	367K	8.62M
Days Sales Outstanding	-	-	23.82	16.42	17.68	213.25
Inventory	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-
Other Current Assets	0	138.72M	197.13M	39.22M	86.4M	76.1M
Total Non-Current Assets+	27.31M	0	99.51M	260.46M	237.67M	429.39M
Property, Plant & Equipment	20.03M	48.34M	96.81M	145.17M	223.49M	147.83M
Fixed Asset Turnover	-	0.01x	0.02x	0.01x	0.03x	0.10x
Goodwill	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	3M
Long-Term Investments	0	0	0	0	0	0
Other Non-Current Assets	7.29M	-48.34M	2.7M	115.3M	14.19M	278.56M
Total Assets+	28.33M	140.24M	303.89M	331.2M	402.2M	556.56M
Asset Turnover	-	0.00x	0.01x	0.01x	0.02x	0.03x
Asset Growth %	-	3.95%	1.17%	0.09%	0.21%	0.38%
Total Current Liabilities+	2.82M	4.91M	10.96M	14.18M	18.85M	22.61M
Accounts Payable	0	153.93K	901K	948K	2.65M	0
Days Payables Outstanding	-	28.94	65.24	60.27	135.04	-
Short-Term Debt	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0
Other Current Liabilities	2.82M	0	3.45M	6.1M	7.02M	2.75M
Current Ratio	0.36x	28.54x	18.65x	4.99x	8.73x	5.63x
Quick Ratio	0.36x	28.54x	18.65x	4.99x	8.73x	5.63x
Cash Conversion Cycle	-	-	-	-	-	-
Total Non-Current Liabilities+	29.48M	18M	221.97M	218.65M	251.1M	374.13M
Long-Term Debt	9.18M	22.67M	160.68M	162.21M	171.66M	170.16M
Capital Lease Obligations	20.31M	34.81M	61.29M	53.53M	67.39M	152.8M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	0	-39.48M	0	2.9M	12.04M	51.18M
Total Liabilities	32.31M	22.92M	232.93M	232.83M	269.95M	396.74M
Total Debt+	29.48M	57.49M	221.97M	215.74M	241.17M	322.95M
Net Debt	28.47M	56.37M	215.16M	213.57M	180.91M	280.51M
Debt / Equity	-	0.49x	3.13x	2.19x	1.82x	2.02x
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-
Interest Coverage	-7.85x	-5.29x	-10.52x	-	-31.41x	-28.55x
Total Equity+	-3.97M	117.32M	70.96M	98.37M	132.25M	159.82M
Equity Growth %	-	30.53%	-0.4%	0.39%	0.34%	0.21%
Book Value per Share	-0.29	6.90	4.74	7.04	8.04	6.21
Total Shareholders' Equity	-3.97M	117.32M	70.96M	26.28M	69.16M	104.1M
Common Stock	0	138.71M	16.93M	5K	6K	7K
Retained Earnings	0	-21.38M	0	-3.18M	-19.36M	-64.59M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	0	0	0	-102K	312K	53K
Minority Interest	0	0	0	72.1M	63.09M	55.72M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.39M	-1.04M	-6.62M	-27.49M	-7.74M	-9.1M
Operating CF Margin %	-	-1.52%	-4.19%	-14.9%	-1.02%	-0.62%
Operating CF Growth %	-	0.25%	-5.35%	-3.16%	0.72%	-0.18%
Net Income	-1.76M	-2.54M	-13.61M	-13.68M	-16.18M	-53.68M
Depreciation & Amortization	0	93.46K	1.01M	695K	2.28M	2.71M
Stock-Based Compensation	0	0	217K	1.22M	2.26M	3.92M
Deferred Taxes	0	0	0	0	0	0
Other Non-Cash Items	454.3K	1.33M	2.78M	-12.43M	4.37M	38.76M
Working Capital Changes	-83.38K	66.28K	2.99M	-3.29M	-466K	-799K
Change in Receivables	0	0	0	0	0	-1.11M
Change in Inventory	0	0	0	0	0	0
Change in Payables	-87.99K	92.9K	3.3M	-1.31M	3.11M	309K
Cash from Investing+	-4.07M	-11.9M	-15.99M	-187.84M	-16.27M	-43.91M
Capital Expenditures	-4.07M	-11.9M	-15.99M	-45.97M	-56.14M	-78.55M
CapEx % of Revenue	-	17.35%	10.14%	24.91%	7.41%	5.32%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	0	0	-2.2M	-2.04M	-989K
Cash from Financing+	5.68M	11.99M	226.47M	52.79M	54.87M	75.09M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	-1.15M	-1.75M	-7.71M	7.79M	-677K	617K
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-5.46M	-12.94M	-22.61M	-73.46M	-63.88M	-87.64M
FCF Margin %	-	-18.87%	-14.33%	-39.81%	-8.43%	-5.94%
FCF Growth %	-	-1.37%	-0.75%	-2.25%	0.13%	-0.37%
FCF per Share	-0.40	-0.76	-1.51	-5.26	-3.88	-3.40
FCF Conversion (FCF/Net Income)	0.71x	0.41x	0.49x	8.63x	0.48x	0.20x
Interest Paid	0	795.36K	0	0	0	0
Taxes Paid	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-4.47%	-14.46%	-3.76%	-14.03%	-30.97%
Return on Invested Capital (ROIC)	-4.77%	-1.58%	-3.98%	-4.67%	-4.08%	-4.06%
Gross Margin	-	-183.15%	-219.46%	-211.17%	5.37%	38.22%
Net Margin	-	-369.86%	-862.48%	-172.57%	-213.56%	-306.42%
Debt / Equity	-	0.49x	3.13x	2.19x	1.82x	2.02x
Interest Coverage	-7.85x	-5.29x	-10.52x	-	-31.41x	-28.55x
FCF Conversion	0.71x	0.41x	0.49x	8.63x	0.48x	0.20x
Revenue Growth	-	-	130.16%	16.92%	310.57%	94.86%

Frequently Asked Questions

Growth & Financials

Sky Harbour Group Corporation (SKYH) reported $24.1M in revenue for fiscal year 2024.

Sky Harbour Group Corporation (SKYH) grew revenue by 94.9% over the past year. This is strong growth.

Sky Harbour Group Corporation (SKYH) reported a net loss of $4.3M for fiscal year 2024.

Dividend & Returns

Sky Harbour Group Corporation (SKYH) has a return on equity (ROE) of -31.0%. Negative ROE indicates the company is unprofitable.

Sky Harbour Group Corporation (SKYH) had negative free cash flow of $98.7M in fiscal year 2024, likely due to heavy capital investments.

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