SPIRIT AVIATION HOLDINGS (FLYYQ) Financials

FLYYQ

FY2025 annual

Revenue Not reported for FY2025

Net Income -$2.8M -124.5% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

Market Cap $993K as of Sep 16, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book n/m negative shareholder equity, so no book multiple, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 30, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FLYYQ SEC filings page.

This page shows SPIRIT AVIATION HOLDINGS (FLYYQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FLYYQ FY2025 2026-08-30

A shrinking revenue base met an inflexible cost structure, pushing losses into cash strain and negative equity.

From FY2023 to FY2024, operating margin deteriorated from -9.2% to -22.5% despite the business still producing billions in revenue, pointing to costs that did not flex with weaker activity. Operating cash flow also worsened from -$247M to -$758M, indicating that the earnings deterioration translated into immediate cash demands rather than remaining a non-cash accounting effect.

By FY2024, liabilities exceeded assets by $80M, and by FY2025 the deficit had widened to $2.09B; the balance sheet moved from thin equity to negative equity. The current ratio stood at 1.0x in FY2025, leaving little working-capital cushion even as reported long-term debt fell.

Revenue declined in FY2024 while selling, general and administrative expense rose to $1.69B, showing that the cost base did not contract with demand. Interest expense also reached $219M, so financing costs compounded the operating squeeze rather than merely reflecting weak revenue.

Financial Health Signals

Financial health score not available

SPIRIT AVIATION HOLDINGS does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/5

SPIRIT AVIATION HOLDINGS passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). No profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$273.0M

YoY-69.7%

QoQ+9.0%

5Y CAGR-31.3%

10Y CAGR-10.2%

SPIRIT AVIATION HOLDINGS held $273.0M in cash against $718.9M in long-term debt as of Q4 2025.

Shares Outstanding

28M

QoQ+4.7%

5Y CAGR-22.0%

10Y CAGR-8.9%

SPIRIT AVIATION HOLDINGS had 28M shares outstanding in Q4 2025. Against the prior quarter it is up 4.7%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

Share Buybacks

YoY-100.0%

SPIRIT AVIATION HOLDINGS repurchased no shares in Q4 2025. This represents a decrease of 100.0% from the same quarter a year earlier.

R&D Spending

Not reported for Q4 2025.

Capital Expenditures

Not reported for Q4 2025.

FLYYQ Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FLYYQ quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	$4.9B-8.4%	$5.4B+5.8%	$5.1B+56.9%	$3.2B+78.5%	$1.8B-52.7%	$3.8B+15.3%	$3.3B+25.7%	$2.6B+13.9%	$2.3B+8.3%	$2.1B+10.9%	$1.9B+16.8%	$1.7B+25.5%	$1.3B+23.1%	$1.1B
SG&A Expenses	N/A	$1.7B+4.5%	$1.6B+29.2%	$1.3B+17.4%	$1.1B+17.1%	$909.8M+5.2%	$865.0M+20.2%	$719.6M+36.3%	$528.0M+11.7%	$472.5M+25.2%	$377.5M+20.5%	$313.4M+19.6%	$262.1M+19.7%	$218.9M+20.5%	$181.7M
Operating Income	N/A	-$1.1B-123.0%	-$495.8M+17.2%	-$598.9M-953.1%	-$56.9M+88.8%	-$507.8M-201.3%	$501.0M+42.8%	$350.9M-8.8%	$384.8M-12.8%	$441.5M-13.3%	$509.1M+43.3%	$355.3M+25.8%	$282.3M+62.2%	$174.0M+20.5%	$144.4M
EBITDA	N/A	-$780.1M-346.1%	-$174.9M+38.8%	-$285.8M-218.9%	$240.3M+204.9%	-$229.2M-131.6%	$726.3M+37.7%	$527.6M+0.5%	$525.0M-3.2%	$542.6M-6.9%	$583.0M+44.9%	$402.2M+28.0%	$314.2M+66.0%	$189.2M+24.4%	$152.1M
Interest Expense	N/A	$219.1M+29.5%	$169.2M+20.9%	$139.9M-10.1%	$155.6M+15.7%	$134.5M+32.7%	$101.3M+21.0%	$83.8M+46.2%	$57.3M+37.6%	$41.6M+105.3%	$20.3M+1185.9%	$1.6M+636.9%	$214K-84.1%	$1.4M-94.6%	$24.8M
Income Tax	N/A	-$60.2M+45.8%	-$111.1M+24.2%	-$146.6M-207.0%	-$47.8M+75.1%	-$191.5M-289.3%	$101.2M+105.5%	$49.2M+174.8%	-$65.8M-142.8%	$153.8M-17.0%	$185.2M+45.2%	$127.5M+20.9%	$105.5M+59.5%	$66.1M+42.6%	$46.4M
Net Income	-$2.8M-124.5%	-$1.2M-174.8%	-$447K+17.8%	-$544K-15.1%	-$473K-210.2%	$429K-99.9%	$335.3M+115.3%	$155.7M-62.5%	$415.5M+57.7%	$263.5M-16.9%	$317.2M+40.7%	$225.5M+27.4%	$176.9M+63.1%	$108.5M+41.9%	$76.4M
EPS (Basic)	N/A	-$0.01+99.7%	-$4.10+19.6%	-$5.10-13.3%	-$4.50+11.1%	-$5.06-203.3%	$4.90+114.9%	$2.28-62.0%	$6.00+60.0%	$3.75-14.6%	$4.39+41.6%	$3.10+27.0%	$2.44+62.7%	$1.50+4.2%	$1.44
EPS (Diluted)	N/A	-$0.01	-$4.10+19.6%	-$5.10-13.3%	-$4.50+11.1%	-$5.06-203.5%	$4.89+114.5%	$2.28-61.9%	$5.99+60.2%	$3.74-14.6%	$4.38+42.2%	$3.08+27.3%	$2.42+62.4%	$1.49+4.2%	$1.43
Diluted Shares (Avg)	N/A	109M	109M+0.4%	109M+3.6%	105M+24.0%	85M+23.5%	69M+0.2%	68M-1.4%	69M-1.6%	71M-2.6%	72M-1.2%	73M+0.4%	73M+0.6%	73M+35.6%	54M

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-K	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Revenue	N/A	$958.5M-19.9%	$1.0B-20.4%	$755.4M-40.3%	$1.2B-11.5%	$1.2B-4.9%	$1.3B-10.6%	$1.3B-6.2%
SG&A Expenses	N/A	$367.4M-14.0%	$367.4M-12.2%	$308.6M-28.5%	$412.1M-0.9%	$427.1M+5.7%	$418.4M+2.6%	$431.5M+10.9%
Operating Income	N/A	-$134.9M+54.5%	-$184.1M-20.7%	-$287.2M-38.5%	-$449.1M-109.1%	-$296.4M-57.0%	-$152.5M-854.6%	-$207.3M-84.5%
EBITDA	N/A	-$76.9M+63.8%	-$121.2M-78.2%	-$232.3M-84.4%	-$373.7M-176.2%	-$212.4M-100.5%	-$68.0M-167.5%	-$126.0M-266.2%
Interest Expense	N/A	$46.3M-14.5%	$62.1M+14.4%	$47.7M-13.0%	$55.8M+18.2%	$54.1M+31.2%	$54.3M+88.0%	$54.8M+5.8%
Income Tax	N/A	$1.6M+105.4%	-$4.0M-221.1%	$17.9M+223.8%	-$19.3M+56.8%	-$29.8M+35.4%	$3.3M-80.9%	-$14.4M+61.8%
Net Income	N/A	-$317.5M-3.0%	-$245.8M-27.4%	$72.2M+150.6%	$642.6M+144.0%	-$308.2M-95.6%	-$192.9M-8113.2%	-$142.6M-37.3%
EPS (Basic)	N/A	-$7.87-180.1%	-$7.24-311.4%	$0.66+150.8%	-$5.35-218.5%	-$2.81-95.1%	-$1.76-8700.0%	-$1.30-36.8%
EPS (Diluted)	N/A	-$7.87	-$7.24	$0.66	-$5.35-218.5%	-$2.81-95.1%	-$1.76-8700.0%	-$1.30-36.8%
Diluted Shares (Avg)	N/A	40M	34M	110M	N/A	110M+0.3%	110M+0.3%	109M+0.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

FLYYQ Balance Sheet

FLYYQ quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.0B-37.5%	$9.6B+1.9%	$9.4B+2.5%	$9.2B+7.5%	$8.5B+1.7%	$8.4B+19.2%	$7.0B+36.4%	$5.2B+24.6%	$4.1B+31.5%	$3.2B+24.6%	$2.5B+58.9%	$1.6B+34.9%	$1.2B+28.4%	$919.9M+23.3%	$745.8M
Current Assets	$1.2B-40.9%	$2.1B+39.5%	$1.5B-24.2%	$2.0B+8.2%	$1.8B-21.8%	$2.4B+70.1%	$1.4B+3.0%	$1.3B+4.9%	$1.3B+31.2%	$977.5M-4.8%	$1.0B+42.3%	$721.5M+11.2%	$649.1M+18.6%	$547.4M+23.6%	$442.7M
Cash & Equivalents	$273.0M-69.7%	$902.1M+4.3%	$865.2M-35.7%	$1.3B+1.0%	$1.3B-25.5%	$1.8B+82.8%	$979.0M-2.6%	$1.0B+25.5%	$800.8M+14.3%	$700.9M-12.8%	$803.6M+27.0%	$632.8M+19.3%	$530.6M+27.3%	$416.8M+21.4%	$343.3M
Short-Term Investments	$0-100.0%	$118.3M+5.2%	$112.5M+5.0%	$107.1M+0.8%	$106.3M0.0%	$106.3M+1.0%	$105.3M+2.5%	$102.8M+1.8%	$100.9M+0.8%	$100.2M	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$23.2M+2.2%	$22.7M+47.4%	$15.4M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.1B-16.4%	$9.7B+16.8%	$8.3B+8.8%	$7.6B+18.5%	$6.4B+4.5%	$6.1B+28.6%	$4.8B+47.7%	$3.2B+35.8%	$2.4B+34.8%	$1.8B+34.7%	$1.3B+122.7%	$589.7M+43.2%	$411.6M+22.0%	$337.3M+20.9%	$279.1M
Current Liabilities	$1.3B-27.4%	$1.8B+5.8%	$1.7B+4.7%	$1.6B+25.2%	$1.3B-4.9%	$1.3B+20.7%	$1.1B+33.3%	$834.5M+25.6%	$664.3M+21.7%	$545.7M+17.1%	$466.2M+27.5%	$365.6M+8.8%	$336.0M+21.3%	$276.9M+21.9%	$227.1M
Non-Current Liabilities	$6.8B-14.0%	$7.9B+19.6%	$6.6B+9.9%	$6.0B+16.8%	$5.2B+7.1%	$4.8B+31.0%	$3.7B+52.8%	$2.4B+39.8%	$1.7B+40.6%	$1.2B+44.4%	$847.0M+278.0%	$224.1M+196.2%	$75.7M+25.1%	$60.5M+16.2%	$52.0M
Long-Term Debt	$718.9M-59.2%	$1.8B-42.4%	$3.1B-4.5%	$3.2B+7.6%	$3.0B-3.0%	$3.1B+56.5%	$2.0B-3.2%	$2.0B+45.9%	$1.4B+54.6%	$897.4M+50.4%	$596.7M+341.2%	$135.2M	$0	$0	$0
Total Equity	-$2.1B-2510.2%	-$80.1M-107.1%	$1.1B-27.8%	$1.6B-25.7%	$2.1B-6.0%	$2.2B-0.5%	$2.3B+17.3%	$1.9B+9.4%	$1.8B+27.2%	$1.4B+13.8%	$1.2B+21.4%	$1.0B+30.4%	$769.1M+32.0%	$582.5M+24.8%	$466.7M
Retained Earnings	-$2.8B-141.5%	-$1.2B-2166.3%	$56.8M-88.7%	$504.2M-52.4%	$1.1B-30.6%	$1.5B-22.0%	$2.0B+20.3%	$1.6B+10.6%	$1.5B+39.4%	$1.1B+32.0%	$798.8M+65.9%	$481.5M+88.0%	$256.1M+223.5%	$79.2M+370.1%	-$29.3M

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-K	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Total Assets	$6.0B-37.5%	$8.8B-7.4%	$8.6B-10.3%	$8.9B-6.5%	$9.6B+1.9%	$9.5B+1.4%	$9.6B+2.0%	$9.5B+2.2%
Current Assets	$1.2B-40.9%	$1.1B-12.1%	$1.5B+3.9%	$1.8B+19.6%	$2.1B+39.5%	$1.2B-16.0%	$1.4B-19.6%	$1.5B-22.4%
Cash & Equivalents	$273.0M-69.7%	$250.5M-40.9%	$407.5M-43.8%	$487.5M-36.3%	$902.1M+4.3%	$423.5M-48.2%	$724.8M-34.7%	$764.8M-40.6%
Short-Term Investments	$0-100.0%	$0-100.0%	$0-100.0%	$119.3M+4.8%	$118.3M+5.2%	$117.1M+5.6%	$115.3M+5.3%	$113.9M+5.1%
Accounts Receivable	N/A	N/A	N/A	$201.7M	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.1B-16.4%	$8.6B-4.0%	$8.1B-7.5%	$8.2B-4.0%	$9.7B+16.8%	$9.0B+11.7%	$8.7B+10.7%	$8.5B+8.6%
Current Liabilities	$1.3B-27.4%	$1.0B-60.2%	$1.5B-3.8%	$1.6B+3.2%	$1.8B+5.8%	$2.5B+58.7%	$1.5B-10.4%	$1.5B-12.8%
Non-Current Liabilities	$6.8B-14.0%	$7.6B+18.2%	$6.6B-8.2%	$6.6B-5.5%	$7.9B+19.6%	$6.4B+0.1%	$7.2B+16.5%	$7.0B+14.7%
Long-Term Debt	$718.9M-59.2%	$750.2M-62.2%	$2.2B-28.2%	$2.2B-29.7%	$1.8B-42.4%	$2.0B-34.7%	$3.1B+1.4%	$3.2B+0.4%
Total Equity	-$2.1B-2510.2%	$164.5M-67.3%	$479.4M-40.8%	$723.4M-27.8%	-$80.1M-107.1%	$503.7M-61.7%	$809.7M-45.0%	$1.0B-31.8%
Retained Earnings	-$2.8B-141.5%	-$574.2M+2.2%	-$256.8M+7.9%	-$10.9M+87.3%	-$1.2B-2166.3%	-$587.0M-344.2%	-$278.8M-170.1%	-$85.9M-121.5%

Not reported in any period shown, so not listed: Inventory, Goodwill.

FLYYQ Cash Flow Statement

FLYYQ quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	N/A	-$758.1M-207.3%	-$246.7M-177.1%	-$89.0M-142.6%	$208.9M+192.7%	-$225.3M-140.9%	$551.3M+8.9%	$506.5M+19.1%	$425.2M-9.9%	$471.8M-0.3%	$473.0M+81.6%	$260.5M+33.3%	$195.4M+71.9%	$113.6M-33.6%	$171.2M
Depreciation & Amortization	N/A	$325.3M+1.4%	$320.9M+2.5%	$313.1M+5.3%	$297.2M+6.7%	$278.6M+23.7%	$225.3M+27.5%	$176.7M+26.1%	$140.2M+38.6%	$101.1M+36.8%	$73.9M+57.3%	$47.0M+47.0%	$31.9M+109.4%	$15.3M+96.6%	$7.8M
Stock-Based Compensation	N/A	$7.2M-39.7%	$12.0M+4.2%	$11.5M-8.4%	$12.5M+8.3%	$11.6M+42.0%	$8.2M-26.0%	$11.0M+29.3%	$8.5M+19.9%	$7.1M-23.0%	$9.2M+4.8%	$8.8M+54.6%	$5.7M+31.5%	$4.3M+716.4%	$530K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$334.5M-44.9%	$607.0M-3.5%	$628.9M+16.6%	$539.2M-1.7%	$548.8M+194.2%	$186.6M+841.7%	$19.8M-16.7%	$23.8M+68.7%	$14.1M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$216.8M+315.7%	-$100.5M+50.6%	-$203.6M-201.9%	-$67.4M+11.0%	-$75.8M-202.5%	$73.9M-57.9%	$175.6M+95.4%	$89.9M-42.8%	$157.1M
Investing Cash Flow	N/A	$463.6M+1369.9%	-$36.5M+86.2%	-$265.4M+24.7%	-$352.4M+36.4%	-$554.0M-21.2%	-$456.9M+41.7%	-$783.7M+1.0%	-$792.0M	N/A	-$701.3M-131.9%	-$302.4M-235.6%	-$90.1M-229.8%	-$27.3M+59.4%	-$67.2M
Financing Cash Flow	N/A	$380.3M+292.1%	-$198.0M-150.6%	$391.3M+235.6%	-$288.7M-117.4%	$1.7B+1482.6%	-$120.2M-125.0%	$481.1M+3.1%	$466.7M	N/A	$399.1M+177.2%	$144.0M+1586.5%	$8.5M+166.6%	-$12.8M-108.2%	$156.6M
Share Buybacks	N/A	$650K-75.4%	$2.6M+11.8%	$2.4M+55.7%	$1.5M-9.2%	$1.7M-69.3%	$5.4M+368.1%	$1.2M-97.5%	$46.6M-54.6%	$102.5M-8.7%	$112.3M+6787.2%	$1.6M+43.0%	$1.1M+11.5%	$1.0M+15.3%	$886K

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-K	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Operating Cash Flow	-$50.8M+58.9%	-$406.1M-11.5%	-$249.7M-87.7%	-$223.7M-63.3%	-$123.8M+32.3%	-$364.3M-87.2%	-$133.0M-1221.6%	-$137.0M-197.3%
Depreciation & Amortization	$57.7M-23.4%	$58.0M-30.9%	$62.9M-25.6%	$54.9M-32.6%	$75.4M-5.2%	$84.0M+1.5%	$84.5M+4.9%	$81.3M+4.3%
Stock-Based Compensation	N/A	N/A	$1.8M	$1.2M-60.0%	N/A	N/A	N/A	$3.1M-5.9%
Investing Cash Flow	$1.9M-96.6%	$262.3M+70.5%	$120.4M-21.4%	$19.0M-80.7%	$57.6M-61.4%	$153.9M+342.3%	$153.3M+381.5%	$98.8M+246.3%
Financing Cash Flow	$266.6M-50.9%	$230.8M+658.3%	$123.6M+268.7%	-$300.6M-525.1%	$543.0M+573.5%	-$41.3M-20.7%	-$73.3M+34.9%	-$48.1M+63.5%
Share Buybacks	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$1K-99.9%	$4K-88.2%	$9K+800.0%	$636K-62.0%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.

FLYYQ Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FLYYQ quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	-22.5%-13.3pp	-9.2%+2.6pp	-11.8%-10.1pp	-1.8%+26.3pp	-28.1%-41.1pp	13.1%+2.5pp	10.6%-4.0pp	14.6%-4.5pp	19.0%-4.7pp	23.8%+5.4pp	18.4%+1.3pp	17.1%+3.9pp	13.2%-0.3pp	13.5%
Net Margin	N/A	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%-8.7pp	8.8%+4.1pp	4.7%-11.0pp	15.7%+4.4pp	11.4%-3.5pp	14.8%+3.1pp	11.7%+1.0pp	10.7%+2.5pp	8.2%+1.1pp	7.1%
Return on Equity	N/A	N/A	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%-14.8pp	14.8%+6.7pp	8.1%-15.5pp	23.6%+4.5pp	19.0%-7.0pp	26.1%+3.6pp	22.5%-0.5pp	23.0%+4.4pp	18.6%+2.2pp	16.4%
Return on Assets	-0.1%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%-4.8pp	4.8%+1.7pp	3.0%-7.0pp	10.0%+1.7pp	8.3%-4.2pp	12.5%-1.6pp	14.2%-0.8pp	15.0%+3.2pp	11.8%+1.5pp	10.3%
Current Ratio	0.97-0.2x	1.19+0.3x	0.90-0.3x	1.25-0.2x	1.44-0.3x	1.76+0.5x	1.25-0.4x	1.61-0.3x	1.93+0.1x	1.79-0.4x	2.20+0.2x	1.970.0x	1.930.0x	1.980.0x	1.95
Debt-to-Equity	N/A	N/A	2.69+0.7x	2.04+0.6x	1.410.0x	1.36+0.5x	0.87-0.2x	1.05+0.3x	0.79+0.1x	0.65+0.2x	0.49+0.4x	0.13+0.1x	0.000.0x	0.000.0x	0.00
Asset Turnover	N/A	0.51-0.1x	0.570.0x	0.55+0.2x	0.38+0.2x	0.22-0.3x	0.54-0.1x	0.640.0x	0.64-0.1x	0.74-0.1x	0.85-0.4x	1.21-0.2x	1.400.0x	1.430.0x	1.44
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	5.7%+8.7pp	-3.0%+4.7pp	-7.7%-4.8pp	-2.9%+0.6pp	-3.5%-7.4pp	3.8%-6.8pp	10.6%+3.8pp	6.8%-7.8pp	14.7%

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-K	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Operating Margin	N/A	-14.1%+10.7pp	-18.1%-6.1pp	-38.0%-21.6pp	-38.4%-22.1pp	-24.8%-9.8pp	-11.9%-13.3pp	-16.4%-8.1pp
Net Margin	N/A	-33.1%-7.4pp	-24.1%-9.0pp	9.6%+20.8pp	54.9%+35.0pp	-25.8%-13.2pp	-15.1%-14.9pp	-11.3%-3.6pp
Return on Equity	N/A	-193.0%-131.8pp	-51.3%-27.4pp	10.0%+24.2pp	N/A	-61.2%-49.2pp	-23.8%-23.7pp	-14.2%-7.2pp
Return on Assets	N/A	-3.6%-0.4pp	-2.9%-0.9pp	0.8%+2.3pp	6.7%+3.9pp	-3.3%-1.6pp	-2.0%-2.0pp	-1.5%-0.4pp
Current Ratio	0.97-0.2x	1.06+0.6x	1.02+0.1x	1.13+0.2x	1.19+0.3x	0.48-0.4x	0.94-0.1x	0.97-0.1x
Debt-to-Equity	N/A	4.56+0.6x	4.68+0.8x	3.08-0.1x	N/A	3.94+1.6x	3.86+1.8x	3.17+1.0x
Asset Turnover	N/A	0.110.0x	0.120.0x	0.080.0x	0.120.0x	0.130.0x	0.130.0x	0.130.0x

Not reported in any period shown, so not listed: Gross Margin, FCF Margin.

Note: Shareholder equity is negative (-$2.1B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where SPIRIT AVIATION HOLDINGS Ranks

Frequently Asked Questions

Is SPIRIT AVIATION HOLDINGS profitable?

No, SPIRIT AVIATION HOLDINGS (FLYYQ) reported a net income of -$2.8M in fiscal year 2025.

How much debt does SPIRIT AVIATION HOLDINGS have?

As of fiscal year 2025, SPIRIT AVIATION HOLDINGS (FLYYQ) had $273.0M in cash and equivalents against $718.9M in long-term debt.

What are SPIRIT AVIATION HOLDINGS's total assets?

SPIRIT AVIATION HOLDINGS (FLYYQ) had $6.0B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does SPIRIT AVIATION HOLDINGS have outstanding?

SPIRIT AVIATION HOLDINGS (FLYYQ) had 28M shares outstanding as of fiscal year 2025.

What is SPIRIT AVIATION HOLDINGS's current ratio?

SPIRIT AVIATION HOLDINGS (FLYYQ) had a current ratio of 0.97 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is SPIRIT AVIATION HOLDINGS's return on assets (ROA)?

SPIRIT AVIATION HOLDINGS (FLYYQ) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SPIRIT AVIATION HOLDINGS's P/E ratio?

SPIRIT AVIATION HOLDINGS (FLYYQ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $993K as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is SPIRIT AVIATION HOLDINGS's price-to-sales ratio?

SPIRIT AVIATION HOLDINGS (FLYYQ) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $993K as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is SPIRIT AVIATION HOLDINGS's debt-to-equity ratio negative or not reported?

SPIRIT AVIATION HOLDINGS (FLYYQ) has negative shareholder equity of -$2.1B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is SPIRIT AVIATION HOLDINGS's Piotroski F-Score?

SPIRIT AVIATION HOLDINGS (FLYYQ) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.