Skywest Inc (SKYW) Financials
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 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SKYW SEC filings page.
Skywest Inc (SKYW) reported $4.2B in revenue over the twelve months to Jun 30, 2026, up 9.1% from the prior twelve months. This page shows its 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).
SkyWest’s dominant business mechanic is operating leverage-led recovery paired with debt reduction, while short-term liquidity becomes progressively tighter.
Between FY2023 and FY2025, operating margin expanded from3.6% to15.2% as revenue expanded, showing that a larger share of sales reached operations rather than growth merely scaling expenses. In FY2025, operating cash flow of$940M exceeded net income of$428M by more than twofold, indicating that non-cash charges and working-capital effects materially separate cash generation from reported profit.
Capital structure improved materially: debt-to-equity fell from 1.2x in FY2021 to 0.7x in FY2025, reducing reliance on creditors as equity rebuilt. Total liabilities also fell from
That deleveraging has not improved near-term flexibility: current ratio dropped from 1.2x in FY2022 to 0.7x in FY2025, while current liabilities reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Skywest Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Skywest Inc has an operating margin of 15.2%, meaning the company retains $15 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 14.0% the prior year.
Skywest Inc's revenue surged 15.0% year-over-year to $4.1B, reflecting rapid business expansion. This strong growth earns a score of 79/100.
Skywest Inc has a moderate D/E ratio of 0.67. This balance of debt and equity financing earns a leverage score of 34/100.
Skywest Inc's current ratio of 0.65 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Skywest Inc converts 22.4% of revenue into free cash flow ($908.3M). This strong cash generation earns a score of 88/100.
Skywest Inc's ROE of 15.6% shows moderate profitability relative to equity, earning a score of 57/100. This is up from 13.4% the prior year.
Skywest Inc scores 1.79, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Skywest Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Skywest Inc generates $2.20 in operating cash flow ($940.4M OCF vs $428.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Skywest Inc earns $5.92 in operating income for every $1 of interest expense ($617.8M vs $104.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Skywest Inc generated $1.1B in revenue in Q2 2026. This represents an increase of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.
Skywest Inc's EBITDA was $248.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.6% from the same quarter a year earlier. Against the prior quarter it is up 16.1%.
Skywest Inc reported $100.7M in net income in Q2 2026. This represents a decrease of 16.3% from the same quarter a year earlier. Against the prior quarter it is down 1.0%.
Skywest Inc earned $2.54 per diluted share (EPS) in Q2 2026. This represents a decrease of 12.7% from the same quarter a year earlier. Against the prior quarter it is up 1.6%.
Cash & Balance Sheet
Skywest Inc generated $283.9M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 141.4% from the same quarter a year earlier. Against the prior quarter it is up 117.6%.
Skywest Inc held $81.4M in cash against $1.6B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Skywest Inc's operating margin was 14.1% in Q2 2026, reflecting core business profitability. This is down 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.
Skywest Inc's net profit margin was 9.1% in Q2 2026, showing the share of revenue converted to profit. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Skywest Inc's ROE was 3.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Not reported for Q2 2026.
Capital Allocation
Skywest Inc invested $8.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 94.3% from the same quarter a year earlier. Against the prior quarter it is down 43.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SKYW 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+6.5% | $1.0B+6.8% | $1.0B+8.5% | $1.1B+15.0% | $1.0B+19.4% | $948.5M+18.0% | $944.4M+25.6% | $912.8M+19.1% |
| SG&A Expenses | $426.8M+9.4% | $422.1M+11.9% | $400.2M+5.2% | $391.6M+3.8% | $390.2M+9.9% | $377.3M+7.5% | $380.5M+14.6% | $377.4M+13.3% |
| Operating Income | $155.8M-8.4% | $123.7M-11.3% | $134.2M-6.9% | $174.1M+32.5% | $170.1M+42.2% | $139.4M+40.1% | $144.1M+421.6% | $131.4M+166.7% |
| EBITDA | $248.3M-4.6% | $213.9M-6.5% | $226.6M-5.0% | $266.6M+16.9% | $260.3M+20.2% | $228.8M+17.1% | $238.6M+94.2% | $228.1M+56.4% |
| Interest Expense | $24.9M-6.2% | $24.5M-9.8% | $25.1M-9.3% | $25.6M-7.9% | $26.6M-8.3% | $27.1M-9.1% | $27.7M-10.7% | $27.8M-14.5% |
| Income Tax | $38.2M-11.0% | $6.1M-69.9% | $33.4M-7.7% | $40.8M+54.1% | $42.8M+61.2% | $20.2M+1.5% | $36.2M+423.4% | $26.5M+2934.0% |
| Net Income | $100.7M-16.3% | $101.7M+1.1% | $91.2M-6.4% | $116.4M+29.7% | $120.3M+59.1% | $100.6M+66.8% | $97.4M+455.9% | $89.7M+282.1% |
| EPS (Basic) | $2.55-14.4% | $2.54+2.4% | $2.28-5.4% | $2.89+29.6% | $2.98+58.5% | $2.48+65.3% | $2.41+487.8% | $2.23+298.2% |
| EPS (Diluted) | $2.54-12.7% | $2.50+3.3% | $2.21-5.2% | $2.81+30.1% | $2.91+59.9% | $2.42+66.9% | $2.33+482.5% | $2.16+292.7% |
| Diluted Shares (Avg) | 40M-4.2% | 41M-2.2% | N/A | 41M-0.4% | 41M-0.2% | 42M+0.3% | N/A | 42M-2.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
SKYW Balance Sheet
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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.4B+3.3% | $7.3B+3.3% | $7.4B+3.5% | $7.2B+3.7% | $7.2B+3.0% | $7.1B+1.9% | $7.1B+1.6% | $7.0B-1.5% |
| Current Assets | $1.0B-3.5% | $1.0B-5.5% | $1.1B-2.3% | $1.1B-3.0% | $1.1B-4.8% | $1.1B+0.2% | $1.1B-1.3% | $1.1B-2.4% |
| Cash & Equivalents | $81.4M+68.4% | $65.8M-63.2% | $122.7M-46.0% | $44.5M-74.9% | $48.3M-65.9% | $179.0M-0.6% | $227.4M+53.3% | $177.6M+41.7% |
| Short-Term Investments | $519.6M-23.4% | $561.4M-1.8% | $584.2M+1.7% | $708.8M+7.7% | $678.7M-2.0% | $571.9M-10.8% | $574.3M-16.4% | $658.4M-5.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.7B+1.3% | $4.6B-0.6% | $4.6B-1.9% | $4.5B-2.4% | $4.6B-3.0% | $4.6B-3.7% | $4.7B-3.7% | $4.6B-5.6% |
| Current Liabilities | $1.8B+23.5% | $1.6B+15.3% | $1.7B+16.6% | $1.6B+18.2% | $1.5B+10.1% | $1.4B+8.0% | $1.4B+14.0% | $1.3B+9.0% |
| Non-Current Liabilities | $2.9B-9.1% | $3.0B-7.5% | $3.0B-10.0% | $3.0B-10.5% | $3.1B-8.0% | $3.2B-8.1% | $3.3B-9.8% | $3.3B-10.4% |
| Long-Term Debt | $1.6B-18.1% | $1.8B-13.4% | $1.8B-13.6% | $1.9B-15.1% | $2.0B-12.2% | $2.1B-13.2% | $2.1B-16.6% | $2.2B-16.6% |
| Total Equity | $2.8B+6.9% | $2.7B+10.4% | $2.7B+14.0% | $2.7B+15.9% | $2.6B+15.7% | $2.5B+14.3% | $2.4B+14.0% | $2.3B+8.2% |
| Retained Earnings | $3.2B+14.6% | $3.1B+15.9% | $3.0B+16.5% | $2.9B+17.4% | $2.8B+16.9% | $2.7B+15.6% | $2.6B+14.2% | $2.5B+10.8% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
SKYW Cash Flow 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $291.9M+13.5% | $144.5M-15.5% | $231.5M+24.5% | $280.8M+52.9% | $257.1M+55.5% | $171.0M+8.5% | $185.9M-17.2% | $183.6M+2.6% |
| Depreciation & Amortization | $92.5M+2.6% | $90.2M+0.9% | $92.4M-2.2% | $92.5M-4.3% | $90.2M-6.9% | $89.4M-6.7% | $94.5M-0.7% | $96.7M+0.1% |
| Stock-Based Compensation | N/A | $4.4M-6.4% | N/A | N/A | N/A | $4.7M-14.5% | N/A | N/A |
| Capital Expenditures | $8.0M-94.3% | $14.0M+66.2% | $7.2M-69.0% | $55.4M-34.3% | $139.5M+241.0% | $8.5M+98.9% | $23.2M+3123.6% | $84.3M+74.7% |
| Free Cash Flow | $283.9M+141.4% | $130.4M-19.8% | $224.3M+37.9% | $225.4M+126.9% | $117.6M-5.5% | $162.6M+6.0% | $162.7M-27.3% | $99.3M-24.0% |
| Investing Cash Flow | -$102.5M+66.6% | -$82.8M-25.3% | -$132.6M-21.0% | -$146.5M-240.7% | -$306.5M-306.4% | -$66.1M-11833.0% | -$109.6M-30.1% | -$43.0M-378.5% |
| Financing Cash Flow | -$173.8M-114.2% | -$118.5M+22.7% | -$20.7M+21.8% | -$138.0M-31.8% | -$81.2M+36.6% | -$153.3M-22.3% | -$26.5M+77.4% | -$104.7M+34.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SKYW 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 14.1%-2.3pp | 12.2%-2.5pp | 13.1%-2.2pp | 16.6%+2.2pp | 16.4%+2.6pp | 14.7%+2.3pp | 15.3%+11.6pp | 14.4%+8.0pp |
| Net Margin | 9.1%-2.5pp | 10.0%-0.6pp | 8.9%-1.4pp | 11.1%+1.2pp | 11.6%+2.9pp | 10.6%+3.1pp | 10.3%+8.0pp | 9.8%+6.8pp |
| Return on Equity | 3.6%-1.0pp | 3.7%-0.3pp | 3.3%-0.7pp | 4.3%+0.5pp | 4.7%+1.3pp | 4.1%+1.3pp | 4.0%+3.2pp | 3.9%+2.8pp |
| Return on Assets | 1.4%-0.3pp | 1.4%0.0pp | 1.2%-0.1pp | 1.6%+0.3pp | 1.7%+0.6pp | 1.4%+0.5pp | 1.4%+1.1pp | 1.3%+1.0pp |
| Current Ratio | 0.57-0.2x | 0.62-0.1x | 0.65-0.1x | 0.71-0.2x | 0.73-0.1x | 0.76-0.1x | 0.78-0.1x | 0.86-0.1x |
| Debt-to-Equity | 0.59-0.2x | 0.66-0.2x | 0.67-0.2x | 0.70-0.3x | 0.78-0.2x | 0.84-0.3x | 0.89-0.3x | 0.95-0.3x |
| Asset Turnover | 0.150.0x | 0.140.0x | 0.140.0x | 0.150.0x | 0.140.0x | 0.130.0x | 0.130.0x | 0.130.0x |
| FCF Margin | 25.7%+14.4pp | 12.9%-4.3pp | 21.9%+4.7pp | 21.5%+10.6pp | 11.4%-3.0pp | 17.1%-1.9pp | 17.2%-12.5pp | 10.9%-6.2pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.65), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Skywest Inc SKYW | FY2025 | $4.1B | $428.3M | 10.5% | $3.7B | 56/100 |
| Copa Holdings Sa CPA | FY2025 | $3.6B | $671.6M | 18.6% | $5.2B | 26/100 |
| Alaska Air Group Inc ALK | FY2025 | $14.2B | $100.0M | 0.7% | $4.5B | 34/100 |
| American Airline AAL | FY2025 | $54.6B | $111.0M | 0.2% | $8.5B | 27/100 |
| Jetblue Awys Corp JBLU | FY2025 | $9.1B | -$602.0M | -6.6% | $1.7B | 18/100 |
| Southwest Airls Co LUV | FY2025 | $28.1B | $441.0M | 1.6% | $18.9B | 33/100 |
Where Skywest Inc Ranks
Frequently Asked Questions
What is Skywest Inc's annual revenue?
Skywest Inc (SKYW) reported $4.1B in total revenue for fiscal year 2025. This represents a 15.0% 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 Skywest Inc's revenue growing?
Skywest Inc (SKYW) revenue grew by 15.0% year-over-year, from $3.5B to $4.1B in fiscal year 2025.
Is Skywest Inc profitable?
Yes, Skywest Inc (SKYW) reported a net income of $428.3M in fiscal year 2025, with a net profit margin of 10.5%.
What is Skywest Inc's EBITDA?
Skywest Inc (SKYW) had EBITDA of $982.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Skywest Inc have?
As of fiscal year 2025, Skywest Inc (SKYW) had $122.7M in cash and equivalents against $1.8B in long-term debt.
What is Skywest Inc's operating margin?
Skywest Inc (SKYW) had an operating margin of 15.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Skywest Inc's net profit margin?
Skywest Inc (SKYW) had a net profit margin of 10.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Skywest Inc's return on equity (ROE)?
Skywest Inc (SKYW) has a return on equity of 15.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Skywest Inc's free cash flow?
Skywest Inc (SKYW) generated $908.3M in free cash flow during fiscal year 2025. This represents a 40.3% 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 Skywest Inc's operating cash flow?
Skywest Inc (SKYW) generated $940.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Skywest Inc's total assets?
Skywest Inc (SKYW) had $7.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Skywest Inc's capital expenditures?
Skywest Inc (SKYW) invested $32.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Skywest Inc's current ratio?
Skywest Inc (SKYW) had a current ratio of 0.65 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Skywest Inc's debt-to-equity ratio?
Skywest Inc (SKYW) had a debt-to-equity ratio of 0.67 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Skywest Inc's return on assets (ROA)?
Skywest Inc (SKYW) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Skywest Inc's P/E ratio?
Skywest Inc (SKYW) trades at 9.1x earnings, its market capitalization divided by net income of $409.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.7B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Skywest Inc's price-to-sales ratio?
Skywest Inc (SKYW) trades at 0.9x sales, its market capitalization divided by revenue of $4.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.7B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Skywest Inc's Altman Z-Score?
Skywest Inc (SKYW) has an Altman Z-Score of 1.79, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Skywest Inc's Piotroski F-Score?
Skywest Inc (SKYW) has a Piotroski F-Score of 6 out of 8 computable signals; 1 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.
Are Skywest Inc's earnings high quality?
Skywest Inc (SKYW) has an earnings quality ratio of 2.20x, considered cash-backed (high 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 Skywest Inc cover its interest payments?
Skywest Inc (SKYW) has an interest coverage ratio of 5.92x, meaning it can comfortably 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 Skywest Inc?
Skywest Inc (SKYW) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.