Skywest SKYW
Nasdaq · Air Transportation, Scheduled · $3.2B$79.91−3.03%Nov 5 close · Databento
SKYW Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $79.911D −3.03%3M −25.78%SMA20 $90.73SMA50 $94.75RSI(14) 32.8
79.91
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 32.8
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$3.2B
EV / True FCF6.8x
Revenue$4.1B +15.0%
True FCF (ex-SBC)$889.6M +40.3%
Rule of 4037.4%
ROIC8.4%
True FCF Yield27.8%
EPS, diluted$10.35 +33.2%
Modern Valuation (EOD)
Market Cap$3.2B
Enterprise Value$6.0B
EV / True FCF6.76
EV / FCF6.62
EV / Gross Profit—
EV / EBIT9.74
EV / Sales1.48
P / E (GAAP)7.47
P / FCF3.52
P / Oper. CF3.40
P / Book1.17
Owner & Cash Yields
True FCF Yield27.8%
FCF Yield28.4%
Owner Earn. Yield23.2%
Earnings Yield13.4%
Shareholder Yield+0.4%
Buyback Yield0.6%
Dividend Yield0.18%
Dividend / sh$0.14
Payout Ratio3%
FCF / sh$23.88
EPS (diluted)$10.35
Compounder & Returns
Rule of 4037.4%
ROIC8.4%
Cash ROIC (CROIC)16.3%
GP / Assets—
ROE15.6%
ROA5.8%
Gross Margin—
Oper. Margin15.2%
Net Margin10.6%
FCF Margin22.4%
True FCF Margin21.9%
Quality & Dilution
Cash Conversion212%
Accrual Ratio−6.9%
SBC % of FCF2.1%
SBC % of Rev0.5%
Reinvest. Rate3%
Sales Growth Y/Y+15.0%
Sales 3Y CAGR+10.5%
EPS Growth Y/Y+33.2%
FCF Growth Y/Y+40.3%
FCF 3Y CAGR+24.8%
Share Change Y/Y−0.3%
Balance Sheet & Scale
Revenue (FY)$4.1B
Gross Profit (FY)—
Oper. Income (FY)$617.8M
GAAP Net Income$428.3M
True FCF (ex-SBC)$889.6M
Cash & Equiv$122.7M
Total Debt$2.9B
Net Cash (Debt)$-2.8B
Net Cash % MCap−88.0%
Debt / FCF (yrs)3.2y
Current Ratio0.6538.03M sh
Price & Technicals (EOD)
Perf Week−17.23%
Perf Month−17.31%
Perf Quarter−28.55%
Perf Half Y−8.85%
Perf YTD−16.66%
SMA 20 Dist−11.93%$90.73
SMA 50 Dist−15.66%$94.75
SMA 100 Dist−18.77%$98.38
Window High−31.08%$115.94
Window Low+2.84%$77.70
RSI (14) · Vol32.868%v
Income Distribution & Cash Flow ConversionHow every dollar of SKYW revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$2.0B ($49.7 / $100)
Operating Expenses$3.4B ($84.8 / $100)
Tax & Non-Operating$189.5M ($4.7 / $100)
Net Profit Kept$428.3M ($0.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$428.3M (10.6% margin)
Operating Cash Flow (OCF)$940.4M(23.2% of rev)
Less: Capital Expenditures−$32.0M(0.8% of rev)
Standard Free Cash Flow (FCF)$908.3M(22.4% margin)
Less: Stock-Based Comp (SBC)−$18.7M(2.1% of FCF)
True FCF (Owner Cash ex-SBC)$889.6M(21.9% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $2.7B | $3.0B | $2.9B | $3.5B | $4.1B | +15.0% | +10.6% | |
| Cost of Revenue (COGS) | — | — | — | — | $2.0B | — | — | |
| Total Operating Expenses | $2.4B | $2.8B | $2.8B | $3.0B | $3.4B | +13.4% | +9.0% | |
| Operating Income (EBIT) | $275.9M | $181.2M | $104.1M | $494.7M | $617.8M | +24.9% | +22.3% | |
| Interest Expense | $123.1M | $127.1M | $130.9M | $114.3M | $104.4M | −8.7% | −4.0% | |
| Income Tax Expense | $38.7M | $19.6M | $6.0M | $109.2M | $137.3M | +25.7% | +37.2% | |
| GAAP Net Income | $111.9M | $73.0M | $34.3M | $323.0M | $428.3M | +32.6% | +39.9% | |
| Diluted EPS | $2.20 | $1.44 | $0.77 | $7.77 | $10.35 | +33.2% | +47.3% | |
| Diluted Shares | 50.8M | 50.6M | 44.6M | 41.5M | 41.4M | −0.3% | −5.0% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $258.4M | $103.0M | $148.3M | $227.4M | $122.7M | −46.0% | −17.0% | |
| Total Current Assets | $1.1B | $1.4B | $1.1B | $1.1B | $1.1B | −2.3% | +0.5% | |
| Total Assets | $7.1B | $7.4B | $7.0B | $7.1B | $7.4B | +3.5% | +0.9% | |
| Total Current Liabilities | $1.2B | $1.2B | $1.3B | $1.4B | $1.7B | +16.6% | +8.7% | |
| Total Debt (Short + Long Term) | $3.5B | $3.8B | $3.4B | $3.2B | $2.9B | −8.4% | −4.3% | |
| Stockholders' Equity | $2.3B | $2.3B | $2.1B | $2.4B | $2.7B | +14.0% | +4.9% | |
| Net Cash / (Net Debt) | $-3.2B | $-3.7B | $-3.3B | $-3.0B | $-2.8B | +5.5% | — | |
| Invested Capital | $5.5B | $6.1B | $5.4B | $5.4B | $5.6B | +3.2% | +0.2% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $831.8M | $480.4M | $736.3M | $692.5M | $940.4M | +35.8% | +3.1% | |
| Depreciation & Amortization (D&A) | $440.2M | $394.6M | $383.1M | $383.9M | $364.5M | −5.0% | −4.6% | |
| Stock-Based Compensation (SBC) | $8.7M | $9.2M | $17.1M | $19.9M | $18.7M | −5.7% | +21.2% | |
| Capital Expenditures (CapEx) | $18.1M | $13.0M | $13.3M | $44.9M | $32.0M | −28.7% | +15.3% | |
| Free Cash Flow (FCF) | $813.7M | $467.3M | $723.1M | $647.6M | $908.3M | +40.3% | +2.8% | |
| True FCF (ex-SBC Owner Cash) | $805.0M | $458.2M | $706.0M | $627.7M | $889.6M | +41.7% | +2.5% | |
| Share Repurchases (Buybacks) | — | — | — | — | $20.0M | — | — | |
| Dividends Paid | — | — | — | — | $13.1M | — | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
On the Wire
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