A Business at a Glance
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REPUBLIC AIRWAYS HOLDINGS INC.
RJET
$705M
Mkt Cap
$17.29
+5.81%
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a 5-year average return on invested capital (ROIC) of 1.8%. This is below average and may indicate limited pricing power.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a market capitalization of $788M. It is classified as a small-cap stock.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) does not currently pay a regular dividend.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) reported annual revenue of $1.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a net profit margin of 4.5%. This is a modest margin.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) generated $-75 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. ("Mesa," the "Company," "we," "our," or "us") is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 67 cities in 34 states, Cuba, and Mexico. As of September 30, 2024, Mesa operated a fleet of 67 regional aircraft consisting of 55 E-175 aircraft and 12 CRJ-900 aircraft with approximately 265 daily departures. During fiscal year 2024, Mesa’s fleet were conducted under our Capacity Purchase Agreement ("CPA") with United and Flight Services Agreement ("FSA") with DHL Network Operations (USA), inc. ("DHL"), leased to a third party, held for sale or maintained as operational spares. Mesa operates all of its flights as United Express flights pursuant to the terms of the CPA entered into with United. Prior to the voluntary wind-down of the FSA with DHL on March 1, 2024, Mesa also operated flights as DHL Express flights pursuant to the terms of the FSA.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 1.7B | 1.5B | 1.4B | 531M | 504M |
| Net Income | 0 | 76M | 65M | 55M | -183M | 17M |
| EPS | $0.00 | $1.87 | $1.62 | $1.38 | $-5.06 | $0.43 |
| Free Cash Flow | 0 | -75M | -600K | -49M | -27M | 116M |
| ROIC | 0.0% | 5.4% | 6.5% | 7.2% | -14.5% | 4.3% |
| Gross Margin | - | 66.7% | 24.1% | 27.5% | - | 45.8% |
| Debt/Equity | 0.85 | 1.01 | 1.03 | 0.95 | 0.70 | 1.47 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | 0 | 168M | 137M | 135M | -185M | 63M |
| Operating Margin | 0.0% | 10.0% | 9.3% | 9.5% | -34.8% | 12.5% |
| ROE | 0.0% | 6.2% | 6.0% | 7.1% | -24.7% | 3.5% |
| Shares Outstanding | 46M | 41M | 40M | 40M | 36M | 39M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 588M | 644M | 682M | 723M | 545M | 504M | 531M | 1.4B | 1.5B | 1.7B | 2.2B |
| Gross Margin | 30.2% | 38.3% | 36.4% | 42.2% | 47.5% | 45.8% | N/A | 27.5% | 24.1% | 66.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 42M | 39M | 54M | 51M | 52M | 50M | 44M | 49M | 44M | 763M | 763M |
| EBIT | 57M | 100M | 73M | 121M | 80M | 63M | -185M | 135M | 137M | 168M | 0 |
| Op. Margin | 9.7% | 15.6% | 10.7% | 16.7% | 14.7% | 12.5% | -34.8% | 9.5% | 9.3% | 10.0% | 0.0% |
| Net Income | 15M | 33M | 33M | 48M | 27M | 17M | -183M | 55M | 65M | 76M | 0 |
| Net Margin | 2.5% | 5.1% | 4.9% | 6.6% | 5.0% | 3.3% | -34.4% | 3.8% | 4.4% | 4.5% | 0.0% |
| Non-Recurring | -387K | -114K | -107K | 647K | -401K | 302K | 177M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | N/A | 7.2% | 6.4% | 8.2% | 5.3% | 4.3% | -14.5% | 7.2% | 6.5% | 5.4% | 0.0% |
| ROE | N/A | 16.0% | 11.1% | 11.9% | 6.2% | 3.5% | -24.7% | 7.1% | 6.0% | 6.2% | 0.0% |
| ROA | N/A | 4.8% | 2.4% | 3.3% | 1.9% | 1.1% | -14.2% | 5.4% | 3.5% | 2.5% | 0.0% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 104M | 75M | 119M | 152M | 175M | 133M | 13M | 329M | 226M | 322M | 0 |
| Free Cash Flow | -386M | -9.8M | 950K | 26M | 148M | 116M | -27M | -49M | -600K | -75M | 0 |
| Owner Earnings | 57M | 12M | 41M | 68M | 88M | 47M | -71M | 168M | 108M | 176M | -147M |
| CapEx | 490M | 85M | 118M | 125M | 27M | 17M | 41M | 378M | 227M | 397M | 0 |
| Maint. CapEx | 46M | 61M | 65M | 78M | 82M | 83M | 82M | 159M | 117M | 126M | 126M |
| Growth CapEx | 444M | 23M | 53M | 47M | 0 | 0 | 0 | 219M | 110M | 271M | 0 |
| D&A | 46M | 61M | 65M | 78M | 82M | 83M | 82M | 159M | 117M | 126M | 126M |
| CapEx/OCF | N/A | N/A | 99.2% | 82.6% | 15.3% | 12.9% | 305.4% | N/A | 59.3% | N/A | 0.0% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 1.4M | 1.0M | 5.0M | 1.9M | 586K | 1.5M | 455K | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | 2.8% | 0.6% | 0.3% | 0.7% | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 1.5M | 1.3M | 13M | 5.5M | 4.4M | 3.1M | 2.8M | 1.5M | 1.0M | 20M | 20M |
| Debt Repayment | 75M | 153M | 222M | 244M | 138M | 271M | 115M | 260M | 240M | 232M | 232M |
| Balance Sheet | |||||||||||
| Net Debt | 415M | 888M | 792M | 774M | 739M | 598M | 599M | 295M | 841M | 1.0B | 880M |
| Cash & Equiv. | 38M | 57M | 103M | 69M | 99M | 121M | 98M | 114M | 111M | 134M | 273M |
| Long-Term Debt | 453M | 804M | 760M | 677M | 542M | 540M | 503M | 365M | 752M | 883M | 909M |
| Debt/Equity | N/A | 4.25 | 2.44 | 1.98 | 1.83 | 1.47 | 0.70 | 0.95 | 1.03 | 1.01 | 0.85 |
| Interest Coverage | 1.7 | 2.2 | 1.3 | 2.2 | 1.8 | 1.8 | -5.2 | 2.7 | 2.4 | 2.8 | 2.8 |
| Equity | N/A | 222M | 374M | 426M | 458M | 488M | 991M | 558M | 1.1B | 1.3B | 1.4B |
| Total Assets | N/A | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 1.1B | 898M | 2.8B | 3.3B | 3.3B |
| Total Liabilities | N/A | 1.1B | 1.1B | 1.0B | 1.0B | 969M | 807M | 340M | 1.7B | 1.9B | 1.9B |
| Intangibles | N/A | 12M | 11M | 9.5M | 8.0M | 6.8M | 3.8M | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 108M | 140M | 187M | 215M | 232M | 49M | -71M | 633M | 709M | 735M |
| Working Capital | N/A | -72M | -53M | -99M | -198M | -100M | -116M | -129M | -36M | -34M | -34M |
| Current Assets | N/A | 146M | 198M | 158M | 156M | 158M | 98M | 139M | 453M | 541M | 487M |
| Current Liabilities | N/A | 218M | 251M | 257M | 353M | 258M | 214M | 268M | 489M | 574M | 520M |
| Per Share Data | |||||||||||
| EPS | 0.62 | 2.91 | 1.32 | 1.36 | 0.78 | 0.43 | -5.06 | 1.38 | 1.62 | 1.87 | 0.00 |
| Owner EPS | 2.37 | 1.10 | 1.63 | 1.95 | 2.50 | 1.22 | -1.96 | 4.24 | 2.71 | 4.31 | -3.21 |
| Book Value | N/A | 19.68 | 14.86 | 12.17 | 13.00 | 12.65 | 27.45 | 14.06 | 27.85 | 32.60 | 29.64 |
| Cash Flow/Share | 4.34 | 6.62 | 4.72 | 4.34 | 4.96 | 3.44 | 0.37 | 8.29 | 5.67 | 7.90 | 2.77 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 24.1M | 11.3M | 25.2M | 35.0M | 35.2M | 38.6M | 36.1M | 39.7M | 39.9M | 40.7M | 45.6M |
| Valuation | |||||||||||
| P/E Ratio | N/A | N/A | 5.3 | 6.7 | 8.0 | 13.7 | N/A | N/A | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A | 182.2 | 22.2 | 29.4 | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 2.9 | 3.4 | 3.9 | 3.4 | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 0.5 | 0.8 | 0.5 | 0.5 | 0.1 | 0.2 | 0.5 | N/A | 0.6 |
| Price/Sales | N/A | N/A | 0.5 | 0.4 | 0.3 | 0.7 | 0.2 | 0.1 | 0.1 | N/A | 0.4 |
| FCF Yield | N/A | N/A | 0.5% | 8.2% | 67.5% | 51.1% | -64.4% | -113.5% | -1.1% | N/A | N/A |
| Market Cap | 0 | N/A | 177M | 320M | 219M | 226M | 43M | 43M | 54M | 0 | 788M |
| Avg. Price | 0.00 | N/A | 192.72 | 126.73 | 70.15 | 137.55 | 44.01 | 27.48 | 16.53 | 0.00 | 17.29 |
| Year-End Price | 0.00 | N/A | 105.45 | 137.10 | 93.45 | 88.05 | 17.70 | 16.35 | 19.65 | 0.00 | 17.29 |
REPUBLIC AIRWAYS HOLDINGS INC. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 3.4x vs a median of 25.8x. The company's 5-year average ROIC is 1.8% with a gross margin of 41.0%. At current prices, the estimated annualized return to fair value is -22.3%.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a debt-to-equity ratio of 1.01. This indicates moderate leverage.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) reported earnings per share (EPS) of $1.87 in its most recent fiscal year.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a return on equity (ROE) of 6.2%. This indicates moderate shareholder returns.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a 5-year average gross margin of 41.0%. This indicates decent pricing power.
The Ledger Terminal provides 10 years of financial data for REPUBLIC AIRWAYS HOLDINGS INC. (RJET), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
REPUBLIC AIRWAYS HOLDINGS INC. (RJET) has a book value per share of $32.60, based on its most recent annual SEC filing.