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SkyWest, Inc., through its subsidiaries, engages in the operation of a regional airline in the United States. It operates through SkyWest Airlines and SWC; and SkyWest Leasing segments. The company is also involved in leasing regional jet aircraft and spare engines to third parties and provision of on-demand charter service, airport customer service, and ground handling services for other airlines. As of December 31, 2025, its fleet consisted of 637 aircraft, including 487 aircraft in scheduled service and air freight services with approximately 2,260 total daily departures to various destinations in the United States, Canada, and Mexico. SkyWest, Inc. was incorporated in 1972 and is headquartered in Saint George, Utah.
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 | $4.1B | $1.0B | $428M | $287M | 15.6% | 15.0% | 32.6% |
| 2024 | $3.5B | $930M | $323M | $364M | 13.4% | 20.2% | 840.4% |
| 2023 | $2.9B | $554M | $34M | $420M | 1.6% | -2.3% | -52.9% |
| 2022 | $3.0B | $614M | $73M | $-202M | 3.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,004.92 | 2,935.43 | 3,527.92 | 4,058.20 |
| Cost Of Revenue | - | 2,505.62 | 2,537.74 | 2,733.70 | 3,109.59 |
| Gross Profit | - | 499.31 | 397.70 | 794.22 | 948.61 |
| Operating Expense | - | 318.14 | 293.63 | 299.56 | 330.77 |
| Operating Income | - | 181.16 | 104.07 | 494.66 | 617.85 |
| EBITDA | - | 614.22 | 554.35 | 930.36 | 1,034.53 |
| EBIT | - | 219.67 | 171.24 | 546.48 | 670.04 |
| Pretax Income | - | 92.58 | 40.31 | 432.14 | 565.59 |
| Tax Provision | - | 19.63 | 5.97 | 109.18 | 137.26 |
| Net Income | - | 72.95 | 34.34 | 322.96 | 428.33 |
| Net Income Common Stockholders | - | 72.95 | 34.34 | 322.96 | 428.33 |
| Total Expenses | - | 2,823.76 | 2,831.36 | 3,033.26 | 3,440.36 |
| Interest Expense | - | 127.08 | 130.93 | 114.34 | 104.44 |
| Interest Income | - | 17.60 | 43.93 | 47.96 | 43.33 |
| Normalized EBITDA | - | 614.22 | 554.35 | 930.36 | 1,034.53 |
| Normalized Income | - | 72.95 | 34.34 | 322.96 | 428.33 |
| Market Cap | 3,458.94 | 3,458.94 | 3,458.94 | 3,458.94 | 3,458.94 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| SkyWest, Inc.this co. | SKYW | $3.5B | 8.08↓ discount | 1.26 | 15.6% | 5.62 |
| AAR Corp. | AIR | $3.9B | 351.64 | 3.63 | 1.0% | 31.54 |
| Brady Corporation | BRC | $3.8B | 20.14 | 3.20 | 15.9% | 13.44 |
| Kadant Inc. | KAI | $3.7B | 36.22 | 3.77 | 10.4% | 18.77 |
| Korn Ferry | KFY | $3.5B | 13.88 | 1.83 |
| - |
| - |
| - |
| - |
| 13.2% |
| 6.68 |
| Hayward Holdings, Inc. | HAYW | $3.3B | 22.06 | 2.10 | 9.5% | 13.20 |
| Standex International Corporation | SXI | $3.3B | 59.40 | 4.65 | 7.8% | 29.74 |
| Kennametal Inc. | KMT | $3.0B | 32.08 | 2.33 | 7.3% | 11.89 |
| ArcBest Corporation | ARCB | $2.8B | 45.45 | 2.11 | 4.6% | 11.64 |
| Peer Median | - | 34.15 | 2.76 | 8.7% | 13.32 | |