GMR Solutions (GMRS)
Market Price (9/21/2026): $12.47 | Market Cap: $781.6 MilSector: Health Care | Industry: Health Care Facilities
GMR Solutions (GMRS)
Market Price (9/21/2026): $12.47Market Cap: $781.6 MilSector: Health CareIndustry: Health Care Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 25%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 21%, FCF Yield is 24% | Weak multi-year price returns2Y Excs Rtn is -46%, 3Y Excs Rtn is -82% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 552% Key risksGMRS key risks include [1] a substantial debt load that limits its financial stability and [2] contracting revenue in an otherwise growing market. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 25%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 21%, FCF Yield is 24% |
| Weak multi-year price returns2Y Excs Rtn is -46%, 3Y Excs Rtn is -82% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 552% |
| Key risksGMRS key risks include [1] a substantial debt load that limits its financial stability and [2] contracting revenue in an otherwise growing market. |
Qualitative Assessment
AI Analysis | Feedback
GMR Solutions (GMRS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Reaffirmation of Full-Year Guidance Bolstered Investor Confidence.
Despite reporting a net loss of $28.3 million and an 11.8% decline in Adjusted EBITDA for fiscal Q2 2026 (ended June 30, 2026), GMR Solutions reaffirmed its full-year 2026 guidance, maintaining net revenue expectations between $5.89 billion and $6.18 billion and Adjusted EBITDA between $1.135 billion and $1.195 billion. This provided a floor for the stock by assuring investors of stable future performance amidst quarterly fluctuations.
2. Debt Reduction Post-IPO Improved Financial Health.
Following its IPO in May 2026, GMR Solutions strategically utilized the proceeds from the IPO and a concurrent private placement transaction to repay approximately $670 million in term loan borrowings. This action successfully reduced the company's long-term debt from $5.10 billion to $4.47 billion, thereby improving its net leverage and overall financial stability.
Show more
GMR Solutions (GMRS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Reaffirmation of Full-Year Guidance Bolstered Investor Confidence.
Despite reporting a net loss of $28.3 million and an 11.8% decline in Adjusted EBITDA for fiscal Q2 2026 (ended June 30, 2026), GMR Solutions reaffirmed its full-year 2026 guidance, maintaining net revenue expectations between $5.89 billion and $6.18 billion and Adjusted EBITDA between $1.135 billion and $1.195 billion. This provided a floor for the stock by assuring investors of stable future performance amidst quarterly fluctuations.
2. Debt Reduction Post-IPO Improved Financial Health.
Following its IPO in May 2026, GMR Solutions strategically utilized the proceeds from the IPO and a concurrent private placement transaction to repay approximately $670 million in term loan borrowings. This action successfully reduced the company's long-term debt from $5.10 billion to $4.47 billion, thereby improving its net leverage and overall financial stability.
3. Underlying Operational Growth Sustained Revenue Momentum.
Despite the reported net loss in fiscal Q2 2026, the company demonstrated solid underlying operational performance. Net revenue for the quarter increased by 3.3% year-over-year to $1.49 billion, driven by a 6.9% increase in air medical volumes and a 2.4% rise in emergent ground transports. Additionally, its 911 Nurse Navigation program experienced significant growth, with volumes increasing by 50%.
4. Positive Analyst Sentiment and Price Targets Indicated Future Upside.
Wall Street analysts maintained a generally positive outlook on GMR Solutions. The stock holds a consensus rating of "Moderate Buy" or "Buy" from multiple analysts, with an average 12-month price target ranging from $18.67 to $18.75. This represents a significant potential upside of approximately 38.48% to 44.56% from recent trading prices, signaling analyst confidence in the company's long-term growth prospects.
Show less
Stock Movement Drivers
Fundamental Drivers
nullnull
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| GMRS | 0.2% | |
| Market (SPY) | 0.9% | -1.4% |
| Sector (XLV) | 12.7% | 6.5% |
Fundamental Drivers
nullnull
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| GMRS | ||
| Market (SPY) | 11.6% | 1.6% |
| Sector (XLV) | 5.5% | 7.0% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| GMRS | ||
| Market (SPY) | 19.4% | 1.6% |
| Sector (XLV) | 24.1% | 7.0% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| GMRS | ||
| Market (SPY) | 75.6% | 1.6% |
| Sector (XLV) | 32.3% | 7.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GMRS Return | - | - | - | - | - | -9% | -9% |
| Peers Return | 41% | 2% | 19% | 17% | 16% | 34% | 212% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| GMRS Win Rate | - | - | - | - | - | 40% | |
| Peers Win Rate | 67% | 48% | 54% | 58% | 65% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| GMRS Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -23% | -36% | -26% | -31% | -31% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACHC, STLN, HCA, THC, EHC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
GMRS has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -11.7% | -18.8% |
| % Gain to Breakeven | 13.3% | 23.1% |
| Time to Breakeven | 142 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.8% | -24.5% |
| % Gain to Breakeven | 15.9% | 32.4% |
| Time to Breakeven | 166 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.9% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.0% | -19.2% |
| % Gain to Breakeven | 17.6% | 23.8% |
| Time to Breakeven | 191 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.9% | -12.2% |
| % Gain to Breakeven | 18.9% | 13.9% |
| Time to Breakeven | 165 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -15.8% | -17.9% |
| % Gain to Breakeven | 18.8% | 21.8% |
| Time to Breakeven | 153 days | 123 days |
In The Past
State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
GMRS has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -27.9% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -37.9% | -53.4% |
| % Gain to Breakeven | 61.1% | 114.4% |
| Time to Breakeven | 767 days | 1085 days |
In The Past
State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About GMR Solutions (GMRS)
GMR Solutions (GMRS) is the largest national provider of integrated emergency medical services (EMS) and essential alternate-site, out-of-hospital care in the United States. Serving as a crucial entry point into the healthcare system, GMRS deploys expert clinical teams to provide rapid on-site care, critical interventions, and patient transport in a wide range of settings, from accidents to homes. As the only national provider offering fully integrated air and ground ambulance services, GMRS covers over 60% of the U.S. population across approximately 1,400 counties, responding to about 10% of all 911 calls and 37% of emergent air medical calls nationwide. Its role is increasingly vital amid rural hospital closures, provider shortages, and an aging population, acting as a critical community and disaster safety net.
The company's core services include Emergent Care, which accounts for approximately 84% of patient encounters and involves rapid, life-saving interventions and transport, and Non-emergent Care, comprising scheduled patient transport for less acute needs. GMRS operates an extensive fleet of approximately 7,400 ground ambulances and vehicles, alongside 400 rotor-wing and 113 fixed-wing air ambulances, dispatched from 48 communication centers across 45 states. GMRS is also at the forefront of healthcare innovation, developing and deploying proprietary technology solutions like Nurse Navigation, which optimizes 911 intake by guiding low-acuity patients to the most appropriate care settings, and Transport.Net, a digital platform for seamless ambulance request, tracking, and dispatch. This platform includes modules like RapidCall for 911 access points and Concierge for hospital discharge management, enhancing operational efficiency and patient outcomes.
GMRS primarily serves a diverse base of customers including local communities, health systems, commercial payors (over 650), public health organizations, and various local, state, and federal agencies across the entire U.S. The company operates predominantly on a fee-for-service revenue model, which represents approximately 90% of its income. GMRS leverages its significant scale, clinical depth, operational expertise, and long-standing relationships to deliver coordinated and efficient care, continuously investing in research and collaborating with academic centers to advance care delivery methods and improve patient outcomes.
AI Analysis | Feedback
GMRS is like the FedEx or UPS of emergency medical services, delivering rapid, essential care and transport across the U.S. by ground and air.
Think of GMRS as the Amazon for out-of-hospital medical care, a vast network providing urgent and scheduled services and transport across a significant portion of the U.S.
AI Analysis | Feedback
- Emergent Medical Services: Providing rapid, life-saving critical medical interventions and transport for emergency situations, including 911 responses.
- Non-Emergent Medical Services: Delivering scheduled, non-emergency patient care and transportation to various healthcare settings.
- Air Ambulance Services: Offering specialized medical transport via rotor-wing and fixed-wing aircraft for critical or long-distance patient transfers.
- Ground Ambulance Services: Providing medical transport using a fleet of ambulances for both emergent and non-emergent patient needs.
- Nurse Navigation: A clinical protocol and screening service that intelligently triages 911 calls to guide patients to the most appropriate care setting.
- Transport.Net Platform: A proprietary suite of digital solutions for dispatch, tracking, and scheduling of both air and ground ambulance requests, including RapidCall and Concierge modules.
AI Analysis | Feedback
- Health Systems: GMRS partners with health systems, integrating solutions like Transport.Net to manage patient discharges and streamline ambulance requests.
- Payors: This includes commercial payors, with whom GMRS develops preferred relationships through its managed care contracting strategy. The company is highly diversified, with relationships across more than 650 commercial payors.
- Governments and Public Health Agencies: GMRS serves local communities, public health entities, and local, state, and federal agencies, often by providing essential EMS services and responding to 911 calls.
AI Analysis | Feedback
AI Analysis | Feedback
Nick Loporcaro, Board Chair and Chief Executive Officer
Nick Loporcaro establishes GMR's strategic direction and ensures operational rigor. He has a proven track record of successfully leading healthcare companies across the patient-care continuum. Prior to joining Global Medical Response (GMR) as President and CEO in April 2023, he served as the CEO of Landmark Health. Landmark Health underwent a successful transaction with UnitedHealth (Optum) in 2021. Before Landmark, Loporcaro spent nearly two decades at McKesson, where he was President of McKesson's U.S. Pharma and Specialty Health businesses. GMR is backed by private equity firms KKR, Ares Management, and HPS Investment Partners.
Brian Tierney, Executive Vice President and Chief Financial Officer
Brian Tierney is responsible for all aspects of finance, accounting, treasury, investor relations, and procurement at GMR. He has served in healthcare services for over 12 years and possesses 25 years of finance, accounting, strategy, and operations experience. Tierney has held various positions in GMR and its predecessor companies spanning finance and accounting for 12 years. Prior to GMR, he held operational finance, strategy, and eCommerce positions at American Airlines for 12 years. His role at GMR involves working with a company backed by private equity firms.
Edward Van Horne, President and Chief Operating Officer
Edward Van Horne is recognized for his innovative approach to EMS system design and dedication to clinical excellence. He began his career as an EMT and later became a Nationally Registered Paramedic, holding numerous roles in the emergency medical services field. Prior to his current role, Van Horne served as the CEO of AMR's South Region and as Vice President of Business Development for AMR's West Region. He has been an officer of GMR predecessor companies since 2013 and in senior leadership roles since 2002.
Lisa Jacoba, Executive Vice President and Chief Human Resources Officer
Lisa Jacoba focuses on GMR's organizational and transformational strategies, working collaboratively with operations and support leaders across the company to drive the development and execution of key initiatives.
Thomas Cook, Executive Vice President and General Counsel
Thomas Cook serves as the Executive Vice President, General Counsel, and Secretary for GMR.
AI Analysis | Feedback
1. High Debt Load
GMR Solutions carries a substantial debt load, which poses a significant risk to its financial stability. As of December 31, 2025, the company had approximately $5.0 billion in long-term debt, and its net debt was 4.1 times its EBITDA, a level considered high for a labor-intensive medical services company. This heavy debt burden has been a primary concern for investors, influencing the pricing of its recent IPO, where proceeds were largely directed towards debt reduction and preferred stock redemption rather than business expansion.2. Reimbursement and Collection Risks
The company's business model is primarily fee-for-service, accounting for approximately 90% of its revenue. A significant portion of this revenue (32% in 2025) comes from government payors like Medicare and Medicaid, where reimbursement rates are often non-negotiable and may not cover the full cost of medical transportation. Additionally, changes in healthcare regulations, such as the No Surprises Act, introduce further complexities in air ambulance pricing and out-of-network payment disputes. These factors, coupled with potential delays and challenges in collecting payments from various payors, create substantial uncertainty around GMR Solutions' cash flow and overall profitability.3. Contracting Revenue
Despite operating in an emergency medical services market expected to grow, GMR Solutions experienced a 4% year-over-year decline in total revenue in 2025. While the company attributed some of this decline to divestitures of non-core businesses and a strategic review to exit underperforming contracts, a contracting top line raises concerns about the company's ability to generate consistent growth and maintain its market position, particularly amidst intense competition. The sustainability of improved operating income and net income in 2025, partly due to reduced utilization of outside services, also remains a question for investors.AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
For GMR Solutions (GMRS), the following are expected drivers of future revenue growth over the next 2-3 years:
- Growing Demand for Alternate-Site, Out-of-Hospital Care: GMR Solutions anticipates an increasing need for its emergency medical services (EMS) and alternate-site care due to significant shifts in the healthcare landscape. These include factors such as rural hospital closures, a widespread shortage of healthcare providers, an aging U.S. population, and growing strain on existing healthcare infrastructure, all of which elevate the company's role as a critical entry point into the healthcare system.
- Continued Integration and Optimization of Care Solutions: The company plans to drive revenue growth through the further integration of its air and ground ambulance services with advanced care navigation and technology solutions. This strategic integration, stemming from its 2018 merger, enables GMR Solutions to deliver more coordinated and efficient care across a wide range of emergent and non-emergent patient needs, enhancing its service offerings and competitive advantage.
- Innovation and Deployment of Proprietary Technology and Clinical Protocols: GMR Solutions is focused on continuously innovating and deploying first-in-class or only-in-class solutions. Key examples include the Nurse Navigation clinical protocol, which transforms 911 intake by guiding patients to the most appropriate site of care and reducing low acuity 911 calls, and its proprietary Transport.Net online request platform. This platform, with modules like RapidCall and Concierge, streamlines ambulance requests, reduces response times, and improves operational efficiency, thereby increasing utilization and value for stakeholders.
- Strategic Managed Care Contracting and Market Optimization: The company's managed care contracting strategy is a significant revenue driver, focusing on developing preferred relationships with payors and actively managing its business on a market-to-market basis. This involves continually assessing and optimizing contracted rates, cost structures, and profitability to identify new growth opportunities and secure favorable reimbursement, which contributes to overall revenue expansion.
AI Analysis | Feedback
Share Repurchases
- GMR Solutions reported no share repurchases for the trailing twelve months ended December 2025.
Share Issuance
- In May 2026, GMR Solutions completed an Initial Public Offering (IPO), raising approximately $479 million by offering 31.9 million shares at $15 per share.
- The company also plans a concurrent private placement to sell $500 million worth of warrants to funds affiliated with KKR, Ares Management, and BlackRock's Investment Partners.
- Net proceeds from the IPO are intended to redeem outstanding Series B preferred stock and, along with private placement funds and cash, repay portions of Global Medical Response Inc.'s first lien term loan due 2032.
Inbound Investments
- As of December 2025, funds affiliated with private equity firm KKR, Koch Stockholder, and HPS had invested a fair market value of $901.6 million in the company.
- In connection with its IPO, GMR Solutions announced a private placement to sell $500 million in warrants to funds affiliated with KKR, Ares Management, and BlackRock's Investment Partners.
Outbound Investments
- In the fourth quarter of 2024, the company completed the divestitures of three non-core businesses.
Capital Expenditures
- GMR Solutions had capital expenditures of $258.5 million in 2025.
- These capital expenditures primarily reflect ongoing investments in its fleet and infrastructure.
Peer Outperformance in Health Care Facilities
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 16.2% | 43.2% | 90.1% | CAH 392% · MCK 346% · COR 168% |
| Managed Health Care | 8 | 40.4% | -5.3% | 2.3% | OSCR 84% · HQY 56% · ELV 17% |
| Health Care Services | 20 | 21.1% | 37.6% | -0.3% | HIMS 239% · RDNT 173% · DGX 76% |
| Health Care Facilities ← | 24 | 6.0% | 6.5% | -4.5% | NHC 271% · THC 261% · ENSG 129% |
| Health Care Equipment | 50 | -2.7% | -0.2% | -21.1% | POCI 11050% · UFPT 341% · GKOS 222% |
| Pharmaceuticals | 62 | -10.5% | 14.8% | -38.6% | LQDA 2472% · INDV 1099% · ETON 1051% |
| Health Care Supplies | 12 | 14.1% | -8.9% | -39.7% | LNTH 287% · HAE 54% · MMSI 20% |
| Life Sciences Tools & Services | 109 | 4.3% | -11.3% | -68.4% | SNWV 1757% · MEDP 231% · NTRA 199% |
| Health Care Technology | 21 | -25.8% | -52.6% | -79.2% | SPOK 68% · HSTM 3% · VEEV -13% |
| Biotechnology | 364 | 0.6% | -21.7% | -79.4% | CELZ 1280% · DNTH 1221% · ELVN 1069% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 75.04 |
| Mkt Cap | 12.0 |
| Rev LTM | 5,982 |
| Op Inc LTM | 924 |
| FCF LTM | 300 |
| FCF 3Y Avg | 356 |
| CFO LTM | 824 |
| CFO 3Y Avg | 1,063 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.4% |
| Rev Chg 3Y Avg | 8.0% |
| Rev Chg Q | 9.6% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 15.5% |
| Op Inc Chg 3Y Avg | 17.4% |
| Op Mgn LTM | 14.1% |
| Op Mgn 3Y Avg | 15.2% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 10.9% |
| CFO/Rev 3Y Avg | 14.1% |
| FCF/Rev LTM | 4.9% |
| FCF/Rev 3Y Avg | 6.2% |
Price Behavior
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.51 | 0.44 | -0.23 | 0.03 | -0.07 | 0.29 |
| Up Beta | -1.99 | -1.64 | -0.62 | -1.50 | -1.71 | 0.37 |
| Down Beta | -2.45 | -0.02 | -0.96 | 0.01 | 0.28 | -1.73 |
| Up Capture | 135% | 46% | 10% | 1% | 0% | 0% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 17 | 28 | 31 | 31 | 31 |
| Down Capture | 365% | 237% | 28% | 44% | 27% | 15% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 25 | 36 | 43 | 43 | 43 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GMRS | |
|---|---|---|---|---|
| GMRS | -10.4% | 66.5% | -0.22 | - |
| Sector ETF (XLV) | 24.4% | 16.1% | 1.16 | 7.0% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 1.6% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | -17.6% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -6.3% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 15.1% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | -6.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GMRS | |
|---|---|---|---|---|
| GMRS | -2.2% | 66.5% | -0.22 | - |
| Sector ETF (XLV) | 6.4% | 15.2% | 0.24 | 7.0% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 1.6% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | -17.6% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -6.3% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 15.1% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | -6.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GMRS | |
|---|---|---|---|---|
| GMRS | -1.1% | 66.5% | -0.22 | - |
| Sector ETF (XLV) | 10.6% | 16.7% | 0.51 | 7.0% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 1.6% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | -17.6% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | -6.3% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 15.1% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | -6.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Recent Forward Guidance
Updated 8/13/2026Latest: Q2 2026 Earnings Reported 8/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net revenue | Reported | 5.89 Bil | 6.04 Bil | 6.18 Bil | 0 | Affirmed | Guidance: 6.04 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.14 Bil | 1.17 Bil | 1.20 Bil | 0 | Affirmed | Guidance: 1.17 Bil for 2026 | |
| 2026 Cash used for net capital expenditures and aircraft financing % of net revenue | Reported | 5.1% | 5.2% | 5.3% | 0 | Affirmed | Guidance: 5.2% for 2026 | |
Insider Activity
Updated 9/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Van, Horne Edward | President & COO | Direct | Sell | 9152026 | 12.20 | 262,278 | 3,199,792 | 7,015,049 | Form |
| 2 | Tierney, Brian Scott | EVP & CFO | Direct | Sell | 9152026 | 12.20 | 265,794 | 3,242,687 | 6,770,451 | Form |
| 3 | Loporcaro, Nicola | Chairman & CEO | Direct | Sell | 9152026 | 12.20 | 1,457,102 | 17,776,644 | 34,838,076 | Form |
| 4 | Jacoba, Lisa | EVP & CHRO | Direct | Sell | 9152026 | 12.20 | 92,680 | 1,130,696 | 2,422,957 | Form |
| 5 | Hall, Jessica | Chief Accounting Officer | Direct | Sell | 9152026 | 12.20 | 23,687 | 288,981 | 763,305 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Van, Horne Edward | President & COO | Direct | Sell | 9152026 | 12.20 | 262,278 | 3,199,792 | 7,015,049 | Form |
| 2 | Tierney, Brian Scott | EVP & CFO | Direct | Sell | 9152026 | 12.20 | 265,794 | 3,242,687 | 6,770,451 | Form |
| 3 | Loporcaro, Nicola | Chairman & CEO | Direct | Sell | 9152026 | 12.20 | 1,457,102 | 17,776,644 | 34,838,076 | Form |
| 4 | Jacoba, Lisa | EVP & CHRO | Direct | Sell | 9152026 | 12.20 | 92,680 | 1,130,696 | 2,422,957 | Form |
| 5 | Hall, Jessica | Chief Accounting Officer | Direct | Sell | 9152026 | 12.20 | 23,687 | 288,981 | 763,305 | Form |
| 6 | Cook, Thomas A A | EVP, GC & Secretary | Direct | Sell | 9152026 | 12.20 | 251,882 | 3,072,960 | 8,243,369 | Form |
| 7 | Jacoba, Lisa | EVP & CHRO | Direct | Buy | 5152026 | 15.00 | 1,000 | 15,000 | 4,369,245 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.