A Business at a Glance
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Overview of the Business flyExclusive is a premier owner/operator of jet aircraft to provide private jet passengers experiences dedicated to surpassing expectations for quality, convenience, and safety. flyExclusive’s mission is to be the world’s most vertically integrated private aviation company, offering a full range of industry services. Since 2015, flyExclusive has grown from two LGM/partner owned jets to over 100 owned and leased aircraft, 14 of which are pursuant to the Volato Agreement (as defined below), and is currently the fifth largest private jet operator in the United States (based on 2024 flight hours). We operate a selected fleet of Cessna Citation, Gulfstream, HondaJet, and Challenger aircraft to service customers flying domestically and internationally.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 363M | 327M | 315M | 320M |
| Net Income | -18M | -26M | -47M | 6.0M |
| EPS | $-1.02 | $-1.07 | $-0.58 | $0.08 |
| Free Cash Flow | -24M | -68M | -75M | -100M |
| ROIC | -9.0% | -12.1% | -64.2% | 2.2% |
| Gross Margin | - | 11.3% | 16.2% | 20.2% |
| Debt/Equity | 0.00 | -0.36 | 1.14 | 5.19 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -51M | -83M | -37M | -12M |
| Operating Margin | -14.1% | -25.3% | -11.8% | -3.8% |
| ROE | 0.0% | - | -100.8% | 12.8% |
| Shares Outstanding | 21M | 80M | 80M | 78M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 320M | 315M | 327M | 363M |
| Gross Margin | 20.2% | 16.2% | 11.3% | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -12M | -37M | -83M | -51M |
| Op. Margin | -3.8% | -11.8% | -25.3% | -14.1% |
| Net Income | 6.0M | -47M | -26M | -18M |
| Net Margin | 1.9% | -14.9% | -7.8% | -5.0% |
| Non-Recurring | 15M | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | 2.2% | -64.2% | -12.1% | -9.0% |
| ROE | 12.8% | -100.8% | N/A | 0.0% |
| ROA | 1.2% | -9.0% | -4.8% | -4.1% |
| Cash Flow | ||||
| Op. Cash Flow | 46M | 8.7M | -11M | 33M |
| Free Cash Flow | -100M | -75M | -68M | -24M |
| Owner Earnings | 23M | -19M | -37M | 7.5M |
| CapEx | 146M | 84M | 57M | 57M |
| Maint. CapEx | 23M | 27M | 25M | 25M |
| Growth CapEx | 123M | 57M | 32M | 32M |
| D&A | 23M | 27M | 25M | 25M |
| CapEx/OCF | N/A | 965.2% | N/A | 171.5% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 0 | 882K | 753K | 753K |
| Debt Repayment | 52M | 57M | 58M | 58M |
| Balance Sheet | ||||
| Net Debt | 223M | 41M | 138M | -19M |
| Cash & Equiv. | N/A | N/A | N/A | 19M |
| Long-Term Debt | 222M | 26M | 85M | 85M |
| Debt/Equity | 5.19 | 1.14 | -0.36 | 0.00 |
| Interest Coverage | -1.5 | -1.7 | -3.9 | -3.9 |
| Equity | 47M | 46M | -235M | -434M |
| Total Assets | 494M | 521M | 538M | 448M |
| Total Liabilities | 447M | 486M | 773M | 527M |
| Intangibles | 4.9M | 4.5M | 3.2M | 3.2M |
| Retained Earnings | N/A | -80M | -244M | -244M |
| Working Capital | -6.9M | -105M | -151M | -151M |
| Current Assets | 132M | 117M | 144M | 144M |
| Current Liabilities | 139M | 222M | 295M | 295M |
| Per Share Data | ||||
| EPS | 0.08 | -0.58 | -1.07 | -1.02 |
| Owner EPS | 0.29 | -0.24 | -0.46 | 0.36 |
| Book Value | 0.61 | 0.58 | -2.93 | -20.92 |
| Cash Flow/Share | 0.59 | 0.11 | -0.14 | 0.32 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 77.8M | 80.1M | 80.1M | 20.8M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -2.2 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 9.5 | N/A | N/A |
| Price/Sales | N/A | 1.4 | 1.3 | 0.1 |
| FCF Yield | N/A | -17.0% | -29.1% | -51.5% |
| Market Cap | N/A | 441M | 232M | 46M |
| Avg. Price | N/A | 5.50 | 5.25 | 2.22 |
| Year-End Price | N/A | 5.50 | 2.90 | 2.22 |
FLYEXCLUSIVE INC. passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 15.9%.
FLYEXCLUSIVE INC. (FLYX) has a 5-year average return on invested capital (ROIC) of -24.7%. This is below average and may indicate limited pricing power.
FLYEXCLUSIVE INC. (FLYX) has a market capitalization of $46M. It is classified as a small-cap stock.
FLYEXCLUSIVE INC. (FLYX) does not currently pay a regular dividend.
FLYEXCLUSIVE INC. (FLYX) operates in the Air Transportation, Nonscheduled industry, within the Industrials sector.
FLYEXCLUSIVE INC. (FLYX) reported annual revenue of $327 million in its most recent fiscal year, based on SEC EDGAR filings.
FLYEXCLUSIVE INC. (FLYX) has a net profit margin of -7.8%. The company is currently unprofitable.
FLYEXCLUSIVE INC. (FLYX) generated $-68 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
FLYEXCLUSIVE INC. (FLYX) reported earnings per share (EPS) of $-1.07 in its most recent fiscal year.
FLYEXCLUSIVE INC. (FLYX) has a 5-year average gross margin of 15.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 3 years of financial data for FLYEXCLUSIVE INC. (FLYX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FLYEXCLUSIVE INC. (FLYX) has a book value per share of $-2.93, based on its most recent annual SEC filing.