Republic Airways Holdings Inc Financials

RJET

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE September

This page shows Republic Airways Holdings Inc (RJET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Financial Health Signals

Financial Profile 11/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Republic Airways Holdings Inc has an operating margin of -13.8%, meaning the company retains $-14 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -16.9% the prior year.

Growth

Republic Airways Holdings Inc's revenue declined 4.3% year-over-year, from $498.1M to $476.4M. This contraction results in a growth score of 16/100.

Leverage

Republic Airways Holdings Inc has elevated debt relative to equity (D/E of 2.36), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.

Liquidity

Republic Airways Holdings Inc's current ratio of 0.35 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

Republic Airways Holdings Inc's free cash flow margin of 2.9% results in a low score of 15/100. Capital expenditures of $20.3M absorb a large share of operating cash flow.

Piotroski F-Score Weak

3/9

Republic Airways Holdings Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.38x

For every $1 of reported earnings, Republic Airways Holdings Inc generates $-0.38 in operating cash flow ($34.2M OCF vs -$91.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.7x

Republic Airways Holdings Inc earns $-1.7 in operating income for every $1 of interest expense (-$65.8M vs $38.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$476.4M

YoY-4.3%

5Y CAGR-8.0%

Republic Airways Holdings Inc generated $476.4M in revenue in fiscal year 2024. This represents a decrease of 4.3% from the prior year.

EBITDA

-$25.8M

YoY-7.5%

Republic Airways Holdings Inc's EBITDA was -$25.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.5% from the prior year.

Free Cash Flow

$13.9M

YoY+122.9%

5Y CAGR-12.0%

Republic Airways Holdings Inc generated $13.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 122.9% from the prior year.

Net Income

-$91.0M

YoY+24.2%

Republic Airways Holdings Inc reported -$91.0M in net income in fiscal year 2024. This represents an increase of 24.2% from the prior year.

EPS (Diluted)

$-2.21

YoY+27.3%

Republic Airways Holdings Inc earned $-2.21 per diluted share (EPS) in fiscal year 2024. This represents an increase of 27.3% from the prior year.

Cash & Debt

$15.6M

YoY-52.6%

5Y CAGR-25.7%

Republic Airways Holdings Inc held $15.6M in cash against $259.8M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

41M

YoY+1.0%

5Y CAGR+5.6%

Republic Airways Holdings Inc had 41M shares outstanding in fiscal year 2024. This represents an increase of 1.0% from the prior year.

Gross Margin

N/A

Operating Margin

-13.8%

YoY+3.1pp

5Y CAGR-30.6pp

Republic Airways Holdings Inc's operating margin was -13.8% in fiscal year 2024, reflecting core business profitability. This is up 3.1 percentage points from the prior year.

Net Margin

-19.1%

YoY+5.0pp

5Y CAGR-25.7pp

Republic Airways Holdings Inc's net profit margin was -19.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.0 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$20.3M

YoY-44.6%

5Y CAGR-30.5%

Republic Airways Holdings Inc invested $20.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 44.6% from the prior year.

RJET Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$476.4M-4.3%	$498.1M-6.2%	$531.0M+5.4%	$503.6M-7.6%	$545.1M-24.6%	$723.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$44.2M-9.3%	$48.8M+10.9%	$44.0M-11.8%	$49.9M-4.6%	$52.2M+3.4%	$50.5M
Operating Income	-$65.8M+22.0%	-$84.3M+54.4%	-$185.0M-392.7%	$63.2M-21.2%	$80.2M-33.8%	$121.1M
Interest Expense	$38.5M-23.0%	$49.9M+41.5%	$35.3M+1.6%	$34.7M-21.3%	$44.1M-20.8%	$55.7M
Income Tax	$519K+105.9%	-$8.7M+83.2%	-$52.0M-992.1%	$5.8M-38.9%	$9.5M-39.3%	$15.7M
Net Income	-$91.0M+24.2%	-$120.1M+34.2%	-$182.7M-1201.3%	$16.6M-39.6%	$27.5M-42.3%	$47.6M
EPS (Diluted)	$-2.21+27.3%	$-3.04+39.9%	$-5.06-1276.7%	$0.43-44.9%	$0.78-42.6%	$1.36

Metric	Q3'25	Q3'25	Q2'25	Q4'25	Q3'24	Q3'24	Q2'24	Q4'24
Revenue	$90.7M-2.3%	$92.8M-2.1%	$94.7M-8.2%	$103.2M-10.4%	$115.3M+4.0%	$110.8M-15.8%	$131.6M+10.8%	$118.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$10.9M-5.8%	$11.6M+0.9%	$11.5M+20.6%	$9.5M-16.4%	$11.4M+17.3%	$9.7M-12.7%	$11.1M-7.3%	$12.0M
Operating Income	-$9.2M-6185.6%	-$146K+99.7%	-$57.3M+48.3%	-$110.8M-550.5%	-$17.0M-88.7%	-$9.0M-177.5%	$11.6M+122.7%	-$51.4M
Interest Expense	$2.8M-13.1%	$3.3M-39.0%	$5.3M-24.5%	$7.1M-7.3%	$7.6M-15.6%	$9.0M-15.1%	$10.6M-4.7%	$11.2M
Income Tax	$2.5M+1166.8%	-$238K+93.8%	-$3.9M+11.1%	-$4.3M-1205.1%	$393K+148.5%	-$810K-1225.0%	$72K-91.7%	$864K
Net Income	-$14.1M-167.7%	$20.9M+135.6%	-$58.6M+47.6%	-$111.9M-349.3%	-$24.9M-25.2%	-$19.9M-270.7%	$11.7M+120.2%	-$57.9M
EPS (Diluted)	$-0.34-168.0%	$0.50+135.2%	$-1.42+47.6%	$-2.71-351.7%	$-0.60-25.0%	$-0.48-271.4%	$0.28+119.9%	$-1.41

RJET Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$596.9M-33.6%	$898.5M-19.5%	$1.1B-23.4%	$1.5B-3.0%	$1.5B+3.4%	$1.5B
Current Assets	$61.3M-55.8%	$138.6M+40.9%	$98.3M-37.9%	$158.4M+1.8%	$155.6M-1.4%	$157.8M
Cash & Equivalents	$15.6M-52.6%	$32.9M-42.9%	$57.7M-52.1%	$120.5M+21.3%	$99.4M+44.4%	$68.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$486.6M-30.3%	$698.4M-13.5%	$807.4M-16.6%	$968.5M-7.2%	$1.0B+1.8%	$1.0B
Current Liabilities	$174.5M-34.9%	$267.9M+24.9%	$214.5M-16.9%	$258.2M-26.9%	$353.3M+37.6%	$256.7M
Long-Term Debt	$259.8M-28.8%	$364.7M-27.4%	$502.5M-6.9%	$539.7M-0.5%	$542.5M-19.9%	$677.4M
Total Equity	$110.2M-44.9%	$200.0M-35.1%	$308.2M-36.9%	$488.0M+6.6%	$457.9M+7.5%	$425.9M
Retained Earnings	-$162.1M-128.0%	-$71.1M-245.1%	$49.0M-78.9%	$231.7M+7.7%	$215.1M+14.8%	$187.4M

Metric	Q3'25	Q3'25	Q2'25	Q4'25	Q3'24	Q3'24	Q2'24	Q4'24
Total Assets	$158.9M-11.0%	$178.6M-16.9%	$215.0M-44.0%	$383.6M-35.7%	$596.9M-10.2%	$664.4M-5.9%	$706.3M-8.9%	$775.6M
Current Assets	$114.6M-14.1%	$133.4M-18.4%	$163.6M+1.8%	$160.7M+162.3%	$61.3M-27.8%	$84.9M-13.7%	$98.4M-34.5%	$150.3M
Cash & Equivalents	$38.7M-8.8%	$42.5M-21.5%	$54.1M+35.4%	$40.0M+155.9%	$15.6M-4.2%	$16.3M-12.0%	$18.5M+15.3%	$16.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$211.6M-3.8%	$219.9M-20.7%	$277.4M-28.0%	$385.0M-20.9%	$486.6M-8.1%	$529.5M-4.0%	$551.6M-12.9%	$633.0M
Current Liabilities	$170.0M-2.7%	$174.6M-13.6%	$202.0M-20.1%	$252.7M+44.9%	$174.5M-7.0%	$187.5M-4.7%	$196.8M-22.5%	$253.9M
Long-Term Debt	$27.0M-4.4%	$28.2M-10.8%	$31.7M-62.2%	$83.8M-67.8%	$259.8M-9.7%	$287.7M-3.8%	$299.0M-5.2%	$315.5M
Total Equity	-$52.6M-36.1%	-$38.7M+35.3%	-$59.8M-4101.8%	-$1.4M-101.3%	$110.2M-18.3%	$134.9M-12.8%	$154.7M+8.5%	$142.6M
Retained Earnings	-$326.0M-3.7%	-$314.5M+6.2%	-$335.3M-22.3%	-$274.1M-69.0%	-$162.1M-18.2%	-$137.2M-17.0%	-$117.3M+9.0%	-$129.0M

RJET Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$34.2M+242.1%	-$24.1M-280.3%	$13.4M-89.9%	$132.9M-23.9%	$174.7M+15.2%	$151.7M
Capital Expenditures	$20.3M-44.6%	$36.6M-10.2%	$40.8M+138.0%	$17.1M-35.7%	$26.7M-78.7%	$125.3M
Free Cash Flow	$13.9M+122.9%	-$60.7M-121.2%	-$27.5M-123.7%	$115.7M-21.8%	$148.0M+462.2%	$26.3M
Investing Cash Flow	$148.8M+4.6%	$142.3M+10323.8%	$1.4M+104.1%	-$33.5M-25.5%	-$26.7M+74.6%	-$104.8M
Financing Cash Flow	-$200.5M-40.0%	-$143.1M-84.5%	-$77.6M+1.0%	-$78.4M+33.4%	-$117.7M-44.4%	-$81.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$455K-69.4%	$1.5M+153.6%	$586K-68.7%	$1.9M

Metric	Q3'25	Q3'25	Q2'25	Q4'25	Q3'24	Q3'24	Q2'24	Q4'24
Operating Cash Flow	N/A	-$9.4M+58.0%	-$22.4M-93.7%	-$11.6M-178.9%	$14.6M+30.7%	$11.2M-30.9%	$16.2M+307.0%	-$7.8M
Capital Expenditures	N/A	$1.1M-50.8%	$2.2M+8.6%	$2.1M-39.4%	$3.4M-8.4%	$3.7M-41.1%	$6.3M-8.4%	$6.9M
Free Cash Flow	N/A	-$10.5M+57.4%	-$24.6M-80.8%	-$13.6M-221.2%	$11.2M+50.1%	$7.5M-24.5%	$9.9M+167.4%	-$14.7M
Investing Cash Flow	N/A	$15.7M-74.7%	$62.1M-46.4%	$115.8M+222.9%	$35.9M+94.8%	$18.4M-61.6%	$47.9M+2.8%	$46.6M
Financing Cash Flow	N/A	-$17.9M+29.9%	-$25.6M+68.0%	-$79.9M-56.2%	-$51.2M-60.7%	-$31.9M+48.5%	-$61.8M-11.1%	-$55.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RJET Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-13.8%+3.1pp	-16.9%+17.9pp	-34.8%-47.4pp	12.6%-2.2pp	14.7%-2.0pp	16.8%
Net Margin	-19.1%+5.0pp	-24.1%+10.3pp	-34.4%-37.7pp	3.3%-1.8pp	5.0%-1.5pp	6.6%
Return on Equity	N/A	N/A	N/A	3.4%-2.6pp	6.0%-5.2pp	11.2%
Return on Assets	-15.3%-1.9pp	-13.4%+3.0pp	-16.4%-17.5pp	1.1%-0.7pp	1.8%-1.5pp	3.3%
Current Ratio	0.35-0.2	0.52+0.1	0.46-0.2	0.61+0.2	0.44-0.2	0.61
Debt-to-Equity	2.36+0.5	1.82+0.2	1.63+0.5	1.11-0.1	1.18-0.4	1.59
FCF Margin	2.9%+15.1pp	-12.2%-7.0pp	-5.2%-28.2pp	23.0%-4.2pp	27.2%+23.5pp	3.6%

Metric	Q3'25	Q3'25	Q2'25	Q4'25	Q3'24	Q3'24	Q2'24	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-10.1%-10.0pp	-0.2%+60.3pp	-60.4%+46.9pp	-107.3%-92.5pp	-14.8%-6.6pp	-8.2%-17.0pp	8.8%+52.1pp	-43.3%
Net Margin	-15.6%-38.1pp	22.5%+84.4pp	-61.9%+46.6pp	-108.4%-86.8pp	-21.6%-3.7pp	-18.0%-26.8pp	8.9%+57.6pp	-48.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	7.5%	N/A
Return on Assets	-8.9%-20.6pp	11.7%+38.9pp	-27.3%+1.9pp	-29.2%-25.0pp	-4.2%-1.2pp	-3.0%-4.7pp	1.7%+9.1pp	-7.5%
Current Ratio	0.67-0.1	0.76-0.0	0.81+0.2	0.64+0.3	0.35-0.1	0.45-0.0	0.50-0.1	0.59
Debt-to-Equity	-0.51+0.2	-0.73-0.2	-0.53+58.4	-58.88-61.2	2.36+0.2	2.13+0.2	1.93-0.3	2.21
FCF Margin	N/A	-11.3%+14.7pp	-26.0%-12.8pp	-13.2%-22.9pp	9.8%+3.0pp	6.8%-0.8pp	7.5%+19.9pp	-12.4%

Note: The current ratio is below 1.0 (0.35), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Republic Airways Holdings Inc's annual revenue?

Republic Airways Holdings Inc (RJET) reported $476.4M in total revenue for fiscal year 2024. This represents a -4.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Republic Airways Holdings Inc's revenue growing?

Republic Airways Holdings Inc (RJET) revenue declined by 4.3% year-over-year, from $498.1M to $476.4M in fiscal year 2024.

Is Republic Airways Holdings Inc profitable?

No, Republic Airways Holdings Inc (RJET) reported a net income of -$91.0M in fiscal year 2024, with a net profit margin of -19.1%.

What is Republic Airways Holdings Inc's earnings per share (EPS)?

Republic Airways Holdings Inc (RJET) reported diluted earnings per share of $-2.21 for fiscal year 2024. This represents a 27.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Republic Airways Holdings Inc's EBITDA?

Republic Airways Holdings Inc (RJET) had EBITDA of -$25.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Republic Airways Holdings Inc have?

As of fiscal year 2024, Republic Airways Holdings Inc (RJET) had $15.6M in cash and equivalents against $259.8M in long-term debt.

What is Republic Airways Holdings Inc's operating margin?

Republic Airways Holdings Inc (RJET) had an operating margin of -13.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Republic Airways Holdings Inc's net profit margin?

Republic Airways Holdings Inc (RJET) had a net profit margin of -19.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Republic Airways Holdings Inc's free cash flow?

Republic Airways Holdings Inc (RJET) generated $13.9M in free cash flow during fiscal year 2024. This represents a 122.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Republic Airways Holdings Inc's operating cash flow?

Republic Airways Holdings Inc (RJET) generated $34.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Republic Airways Holdings Inc's total assets?

Republic Airways Holdings Inc (RJET) had $596.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Republic Airways Holdings Inc's capital expenditures?

Republic Airways Holdings Inc (RJET) invested $20.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Republic Airways Holdings Inc have outstanding?

Republic Airways Holdings Inc (RJET) had 41M shares outstanding as of fiscal year 2024.

What is Republic Airways Holdings Inc's current ratio?

Republic Airways Holdings Inc (RJET) had a current ratio of 0.35 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Republic Airways Holdings Inc's debt-to-equity ratio?

Republic Airways Holdings Inc (RJET) had a debt-to-equity ratio of 2.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Republic Airways Holdings Inc's return on assets (ROA)?

Republic Airways Holdings Inc (RJET) had a return on assets of -15.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Republic Airways Holdings Inc's Piotroski F-Score?

Republic Airways Holdings Inc (RJET) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Republic Airways Holdings Inc's earnings high quality?

Republic Airways Holdings Inc (RJET) has an earnings quality ratio of -0.38x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Republic Airways Holdings Inc cover its interest payments?

Republic Airways Holdings Inc (RJET) has an interest coverage ratio of -1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Republic Airways Holdings Inc?

Republic Airways Holdings Inc (RJET) scores 11 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.