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Stocks · Industrials · Air Transportation, Scheduled

Frontier Group Holdings, Inc.

ULCC Clue Score27
United States Fiscal year ends December CIK 0001670076
$5.86 -1.18% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $5.86 −64.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 1 Apr 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue2,508.0Operating income309.0Net income251.0EPS, diluted1.19Fiscal year 2020Revenue1,250.0 −50.2%Operating income−365.0Net income−225.0 −189.6%EPS, diluted−1.13 −195.0%Fiscal year 2021Revenue2,060.0 +64.8%Operating income−117.0Net income−102.0EPS, diluted−0.48Fiscal year 2022Revenue3,326.0 +61.5%Operating income−45.0Net income−37.0EPS, diluted−0.17Fiscal year 2023Revenue3,589.0 +7.9%Operating income−3.0Net income−11.0EPS, diluted−0.05Fiscal year 2024Revenue3,775.0 +5.2%Operating income58.0Net income85.0EPS, diluted0.37Fiscal year 2025Revenue3,724.0 −1.4%Operating income−149.0Net income−137.0 −261.2%EPS, diluted−0.60 −262.2%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,508.0 1,250.0 2,060.0 3,326.0 3,589.0 3,775.0 3,724.0
Growth −50.2% +64.8% +61.5% +7.9% +5.2% −1.4%
Operating income 309.0 −365.0 −117.0 −45.0 −3.0 58.0 −149.0
Net income 251.0 −225.0 −102.0 −37.0 −11.0 85.0 −137.0
Growth −189.6% −261.2%
EPS, diluted 1.19 −1.13 −0.48 −0.17 −0.05 0.37 −0.60
Growth −195.0% −262.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin12.3%Net margin10.0%Free cash flow margin5.0%Fiscal year 2020Operating margin−29.2%Net margin−18.0%Free cash flow margin−45.8%Fiscal year 2021Operating margin−5.7%Net margin−5.0%Free cash flow margin9.2%Fiscal year 2022Operating margin−1.4%Net margin−1.1%Free cash flow margin−3.6%Fiscal year 2023Operating margin−0.1%Net margin−0.3%Free cash flow margin−8.7%Fiscal year 2024Operating margin1.5%Net margin2.3%Free cash flow margin−4.2%Fiscal year 2025Operating margin−4.0%Net margin−3.7%Free cash flow margin−16.1%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 12.3% −29.2% −5.7% −1.4% −0.1% 1.5% −4.0%
Net margin 10.0% −18.0% −5.0% −1.1% −0.3% 2.3% −3.7%
Free cash flow margin 5.0% −45.8% 9.2% −3.6% −8.7% −4.2% −16.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow171.0Capital expenditure−45.0Free cash flow126.0Dividends paid−159.0Fiscal year 2020Operating cash flow−557.0Capital expenditure−16.0Free cash flow−573.0 −554.8%Dividends paid0.0Fiscal year 2021Operating cash flow216.0Capital expenditure−27.0Free cash flow189.0Dividends paid0.0Fiscal year 2022Operating cash flow−78.0Capital expenditure−41.0Free cash flow−119.0 −163.0%Dividends paid−1.0Fiscal year 2023Operating cash flow−261.0Capital expenditure−51.0Free cash flow−312.0Dividends paid−1.0Fiscal year 2024Operating cash flow−82.0Capital expenditure−76.0Free cash flow−158.0Dividends paid0.0Fiscal year 2025Operating cash flow−525.0Capital expenditure−75.0Free cash flow−600.0
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 171.0 −557.0 216.0 −78.0 −261.0 −82.0 −525.0
Capital expenditure −45.0 −16.0 −27.0 −41.0 −51.0 −76.0 −75.0
Free cash flow 126.0 −573.0 189.0 −119.0 −312.0 −158.0 −600.0
Growth −554.8% −163.0%
Dividends paid −159.0 0.0 0.0 −1.0 −1.0 0.0 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash768.0Shareholders’ equity542.0Fiscal year 2020Cash378.0Total debt348.0Net cash (debt)30.0Shareholders’ equity310.0Debt to equity1.12Fiscal year 2021Cash918.0Total debt414.0Net cash (debt)504.0Shareholders’ equity530.0Debt to equity0.78Fiscal year 2022Cash761.0Total debt429.0Net cash (debt)332.0Shareholders’ equity509.0Debt to equity0.84Fiscal year 2023Cash609.0Total debt470.0Net cash (debt)139.0Shareholders’ equity507.0Debt to equity0.93Fiscal year 2024Cash740.0Total debt502.0Net cash (debt)238.0Shareholders’ equity604.0Debt to equity0.83Fiscal year 2025Cash671.0Total debt614.0Net cash (debt)57.0Shareholders’ equity491.0Debt to equity1.25
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 768.0 378.0 918.0 761.0 609.0 740.0 671.0
Total debt n/a 348.0 414.0 429.0 470.0 502.0 614.0
Net cash (debt) n/a 30.0 504.0 332.0 139.0 238.0 57.0
Shareholders’ equity 542.0 310.0 530.0 509.0 507.0 604.0 491.0
Debt to equity n/a 1.12 0.78 0.84 0.93 0.83 1.25

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2,508.0 1,250.0 2,060.0 3,326.0 3,589.0 3,775.0 3,724.0
Growth −50.2% +64.8% +61.5% +7.9% +5.2% −1.4%
309.0 −365.0 −117.0 −45.0 −3.0 58.0 −149.0
Growth −218.1% −356.9%
325.0 −372.0 −144.0 −45.0 32.0 86.0 −134.0
74.0 −147.0 −42.0 −8.0 43.0 1.0 3.0
251.0 −225.0 −102.0 −37.0 −11.0 85.0 −137.0
Growth −189.6% −261.2%
Per share
1.19 −1.13 −0.48 −0.17 −0.05 0.37 −0.60
1.19 −1.13 −0.48 −0.17 −0.05 0.37 −0.60
Growth −195.0% −262.2%
199.1 199.3 211.4 217.6 220.1 224.3 227.8
199.6 199.3 211.4 217.6 220.1 226.5 227.8
Growth −0.2% +6.1% +2.9% +1.1% +2.9% +0.6%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 24.4% a year over five years.
  • The diluted share count rose 14.3% in five years, which is dilution.
  • Operating margin is up 25.2 points on five years ago, at -4.0%.
  • A net loss in 5 of 7 years on file.