What is VOLATO GROUP INC's earnings per share (EPS)?

VOLATO GROUP INC (SOARW) reported diluted earnings per share of $1.18 for fiscal year 2025. 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.

VOLATO GROUP INC Financials

SOARW

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows VOLATO GROUP INC (SOARW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 SOARW FY2025 2026-04-22

FY2025's turnaround came from a much lighter operating footprint, allowing sales to convert into both profit and cash.

FY2025 did more with less: revenue generated per dollar of assets jumped from 0.8x in FY2024 to 6.6x in FY2025, which points to a sharply less asset-intensive model than the prior year. That leaner balance-sheet posture coincided with operating cash flow moving to $3.5M from -$16.9M, so the profitability swing looks supported by real cash generation rather than accounting alone.

Margin improvement was not just a sales story: gross margin rose from 13.5% in FY2023 to 18.7% in FY2025, meaning each dollar of revenue carried materially more room to absorb overhead. At the same time, overhead was reset lower, with SG&A falling from $15.5M in FY2024 to $10.7M in FY2025, which let more gross profit reach operating income.

Operating recovery has not fully repaired short-term liquidity: the current ratio remained below 1.0x at 0.7x and equity stayed negative at -$1.8M. With cash of $4.7M against current liabilities of $13.7M, the business ended FY2025 more functional than fortified, still carrying a balance sheet built around near-term obligations.

Financial Health Signals

Financial Profile 23/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of VOLATO GROUP 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.

Profitability

VOLATO GROUP INC has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This below-average margin results in a low score of 8/100, suggesting thin profitability after operating expenses. This is up from -22.1% the prior year.

Growth

100

VOLATO GROUP INC's revenue surged 101.1% year-over-year to $78.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

VOLATO GROUP INC has elevated debt relative to equity (D/E of -7.47), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 23/100, reflecting increased financial risk.

Liquidity

VOLATO GROUP INC's current ratio of 0.72 is below the typical benchmark, resulting in a score of 9/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

VOLATO GROUP INC's free cash flow margin of 4.2% results in a low score of 0/100. Capital expenditures of $211K absorb a large share of operating cash flow.

Piotroski F-Score Neutral

6/9

VOLATO GROUP INC passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.68x

For every $1 of reported earnings, VOLATO GROUP INC generates $0.68 in operating cash flow ($3.5M OCF vs $5.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$78.6M

YoY+101.1%

VOLATO GROUP INC generated $78.6M in revenue in fiscal year 2025. This represents an increase of 101.1% from the prior year.

EBITDA

$4.3M

YoY+151.4%

VOLATO GROUP INC's EBITDA was $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 151.4% from the prior year.

Net Income

$5.2M

YoY+112.7%

VOLATO GROUP INC reported $5.2M in net income in fiscal year 2025. This represents an increase of 112.7% from the prior year.

EPS (Diluted)

$1.18

VOLATO GROUP INC earned $1.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 104.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$3.3M

YoY+119.2%

VOLATO GROUP INC generated $3.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 119.2% from the prior year.

Cash & Debt

$4.7M

YoY+17.4%

VOLATO GROUP INC held $4.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

10M

VOLATO GROUP INC had 10M shares outstanding in fiscal year 2025. This represents an increase of 415.8% from the prior year.

Margins & Returns

Gross Margin

18.7%

YoY+1.1pp

VOLATO GROUP INC's gross margin was 18.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.

Operating Margin

5.0%

YoY+27.1pp

VOLATO GROUP INC's operating margin was 5.0% in fiscal year 2025, reflecting core business profitability. This is up 27.1 percentage points from the prior year.

Net Margin

6.6%

YoY+110.6pp

VOLATO GROUP INC's net profit margin was 6.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 110.6 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$211K

YoY+45.5%

VOLATO GROUP INC invested $211K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 45.5% from the prior year.

SOARW Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	$78.6M+101.1%	$39.1M+9.8%	$35.6M-63.2%	$96.7M
Cost of Revenue	$63.9M+98.5%	$32.2M+4.6%	$30.8M-67.4%	$94.3M
Gross Profit	$14.7M+113.4%	$6.9M+43.6%	$4.8M+97.6%	$2.4M
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$10.7M-30.8%	$15.5M+67.9%	$9.2M-20.5%	$11.6M
Operating Income	$4.0M+145.9%	-$8.6M-94.2%	-$4.4M+51.7%	-$9.2M
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	$1.0M+304.5%	-$507K-25450.0%	$2K+103.6%	-$55K
Net Income	$5.2M+112.7%	-$40.6M+23.1%	-$52.8M-463.9%	-$9.4M
EPS (Diluted)	$1.18	$-24.42+71.8%	$-86.62	$-0.83

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$27.8M+7207.1%	$381K-98.5%	$24.9M-2.5%	$25.5M+6806.0%	$369K-99.0%	$38.5M+21151.9%	$181K+277.1%	$48K
Cost of Revenue	$21.7M+17520.3%	$123K-99.4%	$21.1M+0.5%	$21.0M+87345.8%	$24K-99.9%	$32.1M+94226.5%	$34K-34.6%	$52K
Gross Profit	$6.2M+2290.3%	$258K-93.2%	$3.8M-16.2%	$4.5M+1203.2%	$345K-94.6%	$6.4M+4250.3%	$147K+3775.0%	-$4K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.0M+7.8%	$2.8M-2.5%	$2.9M+47.0%	$2.0M-36.8%	$3.1M-26.9%	$4.3M+12.2%	$3.8M-12.3%	$4.3M
Operating Income	$3.1M+221.9%	-$2.6M-394.0%	$872K-65.5%	$2.5M+191.2%	-$2.8M-229.9%	$2.1M+158.4%	-$3.7M+15.8%	-$4.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$478K+75.7%	$272K+43.9%	$189K+92.9%	$98K+118.4%	-$533K-4945.5%	$11K+22.2%	$9K+50.0%	$6K
Net Income	-$6.0M-184.4%	$7.1M+98.4%	$3.6M+691.6%	$455K+123.9%	-$1.9M+57.1%	-$4.4M+73.8%	-$16.9M+2.7%	-$17.4M
EPS (Diluted)	N/A	$1.26+68.0%	$0.75+2400.0%	$0.03	N/A	$-3.76+73.9%	$-14.41+3.5%	$-14.93

SOARW Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$12.0M-74.2%	$46.3M-35.4%	$71.7M+137.0%	$30.3M
Current Assets	$9.8M-77.4%	$43.3M-6.8%	$46.5M+334.5%	$10.7M
Cash & Equivalents	$4.7M+17.4%	$4.0M-76.1%	$16.7M+112.2%	$7.9M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$101K+4950.0%	$2K-99.5%	$442K-76.5%	$1.9M
Goodwill	N/A	$635K0.0%	$635K0.0%	$635K
Total Liabilities	$13.8M-78.0%	$62.6M+10.0%	$57.0M+58.6%	$35.9M
Current Liabilities	$13.7M-77.9%	$62.2M+30.6%	$47.6M+57.9%	$30.2M
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	-$1.8M+88.7%	-$16.3M-210.7%	$14.8M+360.2%	-$5.7M
Retained Earnings	-$100.8M+3.4%	-$104.3M-63.8%	-$63.7M-487.3%	-$10.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$12.0M-12.0%	$13.6M+4.2%	$13.0M-44.3%	$23.4M-49.4%	$46.3M-3.4%	$47.9M-26.6%	$65.3M-4.2%	$68.2M
Current Assets	$9.8M-13.4%	$11.3M+6.1%	$10.7M-48.9%	$20.9M-51.7%	$43.3M-1.2%	$43.8M-28.2%	$61.0M+54.3%	$39.6M
Cash & Equivalents	$4.7M+8.0%	$4.3M-7.6%	$4.7M+82.7%	$2.6M-35.6%	$4.0M-28.6%	$5.6M-22.7%	$7.2M-12.5%	$8.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$101K+57.8%	$64K+100.0%	$32K+3100.0%	$1K-50.0%	$2K-98.3%	$118K-94.2%	$2.0M-16.2%	$2.4M
Goodwill	N/A	N/A	N/A	N/A	$635K0.0%	$635K0.0%	$635K0.0%	$635K
Total Liabilities	$13.8M+45.5%	$9.5M-52.8%	$20.1M-48.7%	$39.2M-37.3%	$62.6M-7.3%	$67.6M-15.9%	$80.3M+20.8%	$66.5M
Current Liabilities	$13.7M+46.1%	$9.4M-53.1%	$20.0M-48.9%	$39.1M-37.1%	$62.2M-6.3%	$66.4M-16.2%	$79.2M+54.6%	$51.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$1.8M-145.0%	$4.1M+158.1%	-$7.1M+55.4%	-$15.8M+3.1%	-$16.3M+16.8%	-$19.6M-30.9%	-$15.0M-985.7%	$1.7M
Retained Earnings	-$100.8M-8.2%	-$93.1M+7.1%	-$100.3M+3.5%	-$103.9M+0.4%	-$104.3M-1.9%	-$102.4M-4.5%	-$98.0M-20.9%	-$81.1M

SOARW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	$3.5M+120.6%	-$16.9M+44.3%	-$30.4M-41.8%	-$21.4M
Capital Expenditures	$211K+45.5%	$145K-77.2%	$637K+145.9%	$259K
Free Cash Flow	$3.3M+119.2%	-$17.1M+45.0%	-$31.0M-43.1%	-$21.7M
Investing Cash Flow	-$8.1M-6922.6%	-$115K-106.5%	$1.8M-65.5%	$5.1M
Financing Cash Flow	$5.3M+22.5%	$4.3M-88.5%	$37.5M+66.1%	$22.6M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$5.9M+299.3%	-$3.0M-451.2%	$848K+371.8%	-$312K+95.1%	-$6.4M-105.8%	-$3.1M-1046.7%	$330K+104.3%	-$7.7M
Capital Expenditures	$142K+105.8%	$69K	$0	$0-100.0%	$3K-90.6%	$32K-40.7%	$54K-3.6%	$56K
Free Cash Flow	$5.8M+290.1%	-$3.0M-459.3%	$848K+371.8%	-$312K+95.1%	-$6.4M-103.8%	-$3.2M-1243.5%	$276K+103.6%	-$7.8M
Investing Cash Flow	-$8.0M-11547.8%	-$69K-866.7%	$9K-57.1%	$21K-30.0%	$30K+193.8%	-$32K+43.9%	-$57K-1.8%	-$56K
Financing Cash Flow	$2.5M-8.9%	$2.7M+111.1%	$1.3M+212.4%	-$1.1M-123.6%	$4.8M+218.1%	$1.5M+215.0%	-$1.3M-91.9%	-$683K
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

SOARW Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	18.7%+1.1pp	17.6%+4.1pp	13.5%+11.0pp	2.5%
Operating Margin	5.0%+27.1pp	-22.1%-9.6pp	-12.5%-3.0pp	-9.5%
Net Margin	6.6%+110.6pp	-104.0%+44.4pp	-148.5%-138.8pp	-9.7%
Return on Equity	N/A	N/A	-358.1%	N/A
Return on Assets	43.3%+131.1pp	-87.8%-14.1pp	-73.7%-42.7pp	-31.0%
Current Ratio	0.72+0.0	0.70-0.3	0.98+0.6	0.35
Debt-to-Equity	-7.47-3.6	-3.83-7.7	3.86+10.2	-6.34
FCF Margin	4.2%+47.9pp	-43.7%+43.5pp	-87.2%-64.8pp	-22.4%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	22.1%-45.6pp	67.7%+52.6pp	15.2%-2.5pp	17.6%-75.9pp	93.5%+76.9pp	16.6%-64.6pp	81.2%+89.6pp	-8.3%
Operating Margin	11.2%+684.2pp	-673.0%-676.5pp	3.5%-6.4pp	9.9%+760.9pp	-751.0%-756.5pp	5.5%+2022.7pp	-2017.1%+7012.0pp	-9029.2%
Net Margin	-21.7%-1897.0pp	1875.3%+1860.8pp	14.5%+12.7pp	1.8%+517.2pp	-515.4%-503.9pp	-11.5%+9335.4pp	-9347.0%+26882.2pp	-36229.2%
Return on Equity	N/A	174.1%	N/A	N/A	N/A	N/A	N/A	-1026.6%
Return on Assets	-50.4%-103.0pp	52.6%+25.0pp	27.6%+25.7pp	1.9%+6.0pp	-4.1%+5.1pp	-9.3%+16.6pp	-25.9%-0.4pp	-25.5%
Current Ratio	0.72-0.5	1.21+0.7	0.530.0	0.53-0.2	0.70+0.0	0.66-0.1	0.770.0	0.77
Debt-to-Equity	-7.47-9.8	2.31+5.2	-2.85-0.4	-2.48+1.4	-3.83-0.4	-3.44+1.9	-5.35-44.6	39.24
FCF Margin	20.8%+820.5pp	-799.7%-803.1pp	3.4%+4.6pp	-1.2%+1741.6pp	-1742.8%-1734.6pp	-8.2%-160.7pp	152.5%+16304.6pp	-16152.1%

Note: Shareholder equity is negative (-$1.8M), 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 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is VOLATO GROUP INC's annual revenue?

VOLATO GROUP INC (SOARW) reported $78.6M in total revenue for fiscal year 2025. This represents a 101.1% 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 VOLATO GROUP INC's revenue growing?

VOLATO GROUP INC (SOARW) revenue grew by 101.1% year-over-year, from $39.1M to $78.6M in fiscal year 2025.

Is VOLATO GROUP INC profitable?

Yes, VOLATO GROUP INC (SOARW) reported a net income of $5.2M in fiscal year 2025, with a net profit margin of 6.6%.

What is VOLATO GROUP INC's EBITDA?

VOLATO GROUP INC (SOARW) had EBITDA of $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is VOLATO GROUP INC's gross margin?

VOLATO GROUP INC (SOARW) had a gross margin of 18.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is VOLATO GROUP INC's operating margin?

VOLATO GROUP INC (SOARW) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is VOLATO GROUP INC's net profit margin?

VOLATO GROUP INC (SOARW) had a net profit margin of 6.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is VOLATO GROUP INC's free cash flow?

VOLATO GROUP INC (SOARW) generated $3.3M in free cash flow during fiscal year 2025. This represents a 119.2% 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 VOLATO GROUP INC's operating cash flow?

VOLATO GROUP INC (SOARW) generated $3.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are VOLATO GROUP INC's total assets?

VOLATO GROUP INC (SOARW) had $12.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are VOLATO GROUP INC's capital expenditures?

VOLATO GROUP INC (SOARW) invested $211K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does VOLATO GROUP INC have outstanding?

VOLATO GROUP INC (SOARW) had 10M shares outstanding as of fiscal year 2025.

What is VOLATO GROUP INC's current ratio?

VOLATO GROUP INC (SOARW) had a current ratio of 0.72 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is VOLATO GROUP INC's debt-to-equity ratio?

VOLATO GROUP INC (SOARW) had a debt-to-equity ratio of -7.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is VOLATO GROUP INC's return on assets (ROA)?

VOLATO GROUP INC (SOARW) had a return on assets of 43.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is VOLATO GROUP INC's debt-to-equity ratio negative or unusual?

VOLATO GROUP INC (SOARW) has negative shareholder equity of -$1.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 VOLATO GROUP INC's Piotroski F-Score?

VOLATO GROUP INC (SOARW) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are VOLATO GROUP INC's earnings high quality?

VOLATO GROUP INC (SOARW) has an earnings quality ratio of 0.68x, 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.

How financially healthy is VOLATO GROUP INC?

VOLATO GROUP INC (SOARW) scores 23 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.