Loading…
Frontier Group Holdings, Inc., provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, such as websites, mobile apps, and contact centers. As of December 31, 2025, it had a fleet of 176 Airbus single-aisle aircraft. Frontier Group Holdings, Inc. was founded in 1994 and is headquartered in Denver, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.7B | $-32M | $-137M | $-624M | -27.9% | -1.4% | -261.2% |
| 2024 | $3.8B | $162M | $85M | $-158M | 14.1% | 5.2% | - |
| 2023 | $3.6B | $83M | $-11M | $-348M | -2.2% | 7.9% | - |
| 2022 | $3.3B | $10M | $-37M | $-230M | -7.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,326 | 3,589 | 3,775 | 3,724 |
| Cost Of Revenue | 3,044 | 3,287 | 3,588 | 3,710 |
| Gross Profit | 282 | 302 | 187 | 14 |
| Operating Expense | 317 | 305 | 129 | 163 |
| Operating Income | -35 | -3 | 58 | -149 |
| EBITDA | 10 | 83 | 162 | -32 |
| EBIT | -35 | 33 | 90 | -123 |
| Pretax Income | -45 | 32 | 86 | -134 |
| Tax Provision | -8 | 43 | 1 | 3 |
| Net Income | -37 | -11 | 85 | -137 |
| Net Income Common Stockholders | -37 | -11 | 84 | -137 |
| Total Expenses | 3,361 | 3,592 | 3,717 | 3,873 |
| Interest Expense | 10 | 1 | 4 | 11 |
| Interest Income | 10 | 36 | 32 | 26 |
| Selling General And Administration | 164 | 164 | 178 | 159 |
| Normalized EBITDA | 20 | 83 | 162 | -32 |
| Normalized Income | -28.78 | -11 | 85 | -137 |
| Basic EPS | -0.17 | -0.05 | 0.37 | -0.60 |
| Diluted EPS | -0.17 | -0.05 | 0.37 | -0.60 |
| Tax Effect Of Unusual Items | -1.78 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.18 | 0.21 | 0.01 | 0.21 |
| Total Unusual Items | -10 | -1 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -10 | -1 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -37 | -11 | 85 | -137 |
| Reconciled Depreciation | 45 | 50 | 72 | 91 |
| Reconciled Cost Of Revenue | 3,044 | 3,287 | 3,588 | 3,710 |
| Net Interest Income | 0 | 35 | 28 | 15 |
| Net Income From Continuing And Discontinued Operation | -37 | -11 | 85 | -137 |
| Rent Expense Supplemental | 556 | 554 | 675 | 748 |
| Total Operating Income As Reported | -45 | -3 | 58 | -149 |
| Diluted Average Shares | 218 | 220.10 | 226.49 | 227.77 |
| Basic Average Shares | 218 | 220.10 | 224.33 | 227.77 |
| Diluted NI Availto Com Stockholders | -37 | -11 | 84 | -137 |
| Average Dilution Earnings | 0 | 0 | 0 | 0 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 1 | 0 |
| Net Income Including Noncontrolling Interests | -37 | -11 | 85 | -137 |
| Net Income Continuous Operations | -37 | -11 | 85 | -137 |
| Other Income Expense | -10 | -1 | 0 | 0 |
| Special Income Charges | -10 | -1 | 0 | 0 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 10 | 1 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0 | 35 | 28 | 15 |
| Interest Expense Non Operating | 10 | 1 | 4 | 11 |
| Interest Income Non Operating | 10 | 36 | 32 | 26 |
| Other Operating Expenses | 153 | 141 | -49 | 4 |
| Selling And Marketing Expense | 164 | 164 | 178 | 159 |
| Operating Revenue | 3,248 | 3,509 | 3,683 | 3,598 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Frontier Group Holdings, Inc.this co. | ULCC | $861M | - | 1.75 | -27.9% | -15.70 |
| Satellogic Inc. | SATL | $881M | - | 13.79 | -7.9% | -36.46 |
| Covenant Logistics Group, Inc. | CVLG | $874M | 387.11 | 2.16 | 1.8% | 10.40 |
| Sun Country Airlines Holdings, Inc. | SNCY | $874M | 16.83 | 1.42 | 8.4% | 6.49 |
| Aebi Schmidt Holding AG | AEBI |
| $863M |
| 65.59 |
| 1.05 |
| 1.2% |
| 13.09 |
| Kforce Inc. | KFRC | $854M | 24.08 | 6.47 | 27.9% | 16.91 |
| Compass Diversified | CODI | $854M | - | -23.84 | -39.5% | 17.91 |
| Apogee Enterprises, Inc. | APOG | $831M | 9.68 | 1.69 | 17.4% | 6.94 |
| Falcon's Beyond Global, Inc. | FBYD | $809M | 550.67 | 66.61 | 14.2% | -56.76 |
| Peer Median | - | 44.84 | 1.93 | 5.1% | 8.67 | |