SkyWest (SKYW)
Market Price (11/3/2026): $81.5 | Market Cap: $3.1 BilSector: Industrials | Industry: Passenger Airlines
SkyWest (SKYW)
Market Price (11/3/2026): $81.5Market Cap: $3.1 BilSector: IndustrialsIndustry: Passenger Airlines
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 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. | Weak multi-year price returns2Y Excs Rtn is -43% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 60% Key risksSKYW key risks include [1] significant financial leverage combined with a weakening liquidity position, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech. |
| Weak multi-year price returns2Y Excs Rtn is -43% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 60% |
| Key risksSKYW key risks include [1] significant financial leverage combined with a weakening liquidity position, Show more. |
Qualitative Assessment
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SkyWest (SKYW) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. SkyWest significantly lowered its fiscal year 2026 earnings per share (EPS) outlook and projected no EPS growth for fiscal year 2027.
The company reduced its GAAP EPS forecast for fiscal year 2026 to approximately $10.60 from its previous estimate of around $11, largely attributed to higher fuel costs. Furthermore, management indicated that fiscal year 2027 EPS is expected to be similar to fiscal year 2026, falling short of analyst expectations which had projected 2027 EPS to climb to $12.12. This revised outlook represented an approximately 12.5% reduction in analyst estimates for fiscal year 2027, signaling a period of stagnant earnings growth.
2. Elevated fuel costs negatively impacted profitability, particularly in SkyWest's prorate business, and were a significant macroeconomic headwind for the airline industry.
SkyWest's Q3 2026 financial results were pressured by substantially higher fuel costs, with prorate fuel expense nearly doubling to $66 million, an increase of $32 million year-over-year from Q3 2025. The average fuel price per gallon rose to $4.56 in Q3 2026, compared to $3.04 in Q3 2025. This company-specific impact was exacerbated by a broader industry trend where jet fuel prices were more than 60% higher in Q3 2026 compared to a year earlier, affecting major U.S. carriers.
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SkyWest (SKYW) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. SkyWest significantly lowered its fiscal year 2026 earnings per share (EPS) outlook and projected no EPS growth for fiscal year 2027.
The company reduced its GAAP EPS forecast for fiscal year 2026 to approximately $10.60 from its previous estimate of around $11, largely attributed to higher fuel costs. Furthermore, management indicated that fiscal year 2027 EPS is expected to be similar to fiscal year 2026, falling short of analyst expectations which had projected 2027 EPS to climb to $12.12. This revised outlook represented an approximately 12.5% reduction in analyst estimates for fiscal year 2027, signaling a period of stagnant earnings growth.
2. Elevated fuel costs negatively impacted profitability, particularly in SkyWest's prorate business, and were a significant macroeconomic headwind for the airline industry.
SkyWest's Q3 2026 financial results were pressured by substantially higher fuel costs, with prorate fuel expense nearly doubling to $66 million, an increase of $32 million year-over-year from Q3 2025. The average fuel price per gallon rose to $4.56 in Q3 2026, compared to $3.04 in Q3 2025. This company-specific impact was exacerbated by a broader industry trend where jet fuel prices were more than 60% higher in Q3 2026 compared to a year earlier, affecting major U.S. carriers.
3. Projected block hour growth for fiscal year 2027 was significantly decelerated, indicating slower operational expansion.
After an anticipated approximately 5% increase in block hour production for full fiscal year 2026 compared to 2025, SkyWest projects a substantial slowdown, with block hours expected to increase only 1% to 2% in fiscal year 2027. This reduced growth forecast in core operations suggests limited expansion opportunities in the near term.
4. Insider selling activity, notably by the CEO, exceeded the $5 million threshold, potentially impacting investor confidence.
Within the last six months, Russell A. Childs, SkyWest's President and CEO, engaged in open-market sales of 50,500 shares for an estimated value of $5,717,344. Such significant insider selling can sometimes be interpreted by investors as a lack of confidence in the company's future prospects by its leadership.
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Stock Movement Drivers
Fundamental Drivers
The -23.6% change in SKYW stock from 7/31/2026 to 11/2/2026 was primarily driven by a -25.8% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 106.97 | 81.68 | -23.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,190 | 4,258 | 1.6% |
| Net Income Margin (%) | 9.8% | 9.7% | -0.8% |
| P/E Multiple | 10.3 | 7.6 | -25.8% |
| Shares Outstanding (Mil) | 39 | 39 | 2.1% |
| Cumulative Contribution | -23.6% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| SKYW | -23.6% | |
| Market (SPY) | 0.7% | 55.4% |
| Sector (XLI) | -5.6% | 47.7% |
Fundamental Drivers
The -0.5% change in SKYW stock from 4/30/2026 to 11/2/2026 was primarily driven by a -6.9% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 82.12 | 81.68 | -0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,123 | 4,258 | 3.3% |
| Net Income Margin (%) | 10.4% | 9.7% | -6.9% |
| P/E Multiple | 7.6 | 7.6 | -0.2% |
| Shares Outstanding (Mil) | 40 | 39 | 3.6% |
| Cumulative Contribution | -0.5% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| SKYW | -0.5% | |
| Market (SPY) | 4.9% | 40.9% |
| Sector (XLI) | -2.6% | 48.5% |
Fundamental Drivers
The -18.7% change in SKYW stock from 10/31/2025 to 11/2/2026 was primarily driven by a -18.1% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.48 | 81.68 | -18.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,978 | 4,258 | 7.0% |
| Net Income Margin (%) | 10.9% | 9.7% | -11.2% |
| P/E Multiple | 9.3 | 7.6 | -18.1% |
| Shares Outstanding (Mil) | 40 | 39 | 4.5% |
| Cumulative Contribution | -18.7% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| SKYW | -18.7% | |
| Market (SPY) | 11.2% | 45.9% |
| Sector (XLI) | 10.4% | 54.6% |
Fundamental Drivers
The 93.7% change in SKYW stock from 10/31/2023 to 11/2/2026 was primarily driven by a 48.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.17 | 81.68 | 93.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,865 | 4,258 | 48.6% |
| P/S Multiple | 0.6 | 0.7 | 20.3% |
| Shares Outstanding (Mil) | 42 | 39 | 8.4% |
| Cumulative Contribution | 93.7% |
Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| SKYW | 93.7% | |
| Market (SPY) | 86.0% | 55.0% |
| Sector (XLI) | 79.4% | 58.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SKYW Return | -3% | -58% | 216% | 92% | 0% | -19% | 103% |
| Peers Return | -17% | -19% | 13% | 960% | 31% | -0% | 948% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| SKYW Win Rate | 33% | 42% | 83% | 75% | 58% | 45% | |
| Peers Win Rate | 38% | 43% | 43% | 63% | 60% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| SKYW Max Drawdown | -39% | -64% | -18% | -22% | -34% | -30% | |
| Peers Max Drawdown | -48% | -52% | -46% | -48% | -42% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ALGT, DAL, UAL, LUV, LTM. See SKYW Returns vs. Peers.
[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 11/2/2026 (YTD)
How Low Can It Go
| Event | SKYW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.3% | -18.8% |
| % Gain to Breakeven | 27.1% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -18.7% | -7.8% |
| % Gain to Breakeven | 23.0% | 8.5% |
| Time to Breakeven | 52 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -61.0% | -24.5% |
| % Gain to Breakeven | 156.3% | 32.4% |
| Time to Breakeven | 277 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.8% | -33.7% |
| % Gain to Breakeven | 370.6% | 50.9% |
| Time to Breakeven | 342 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.4% | -19.2% |
| % Gain to Breakeven | 28.9% | 23.8% |
| Time to Breakeven | 52 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.4% | -12.2% |
| % Gain to Breakeven | 25.6% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
In The Past
SkyWest's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% gain to breakeven.
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Asset Allocation
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| Event | SKYW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.3% | -18.8% |
| % Gain to Breakeven | 27.1% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -61.0% | -24.5% |
| % Gain to Breakeven | 156.3% | 32.4% |
| Time to Breakeven | 277 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.8% | -33.7% |
| % Gain to Breakeven | 370.6% | 50.9% |
| Time to Breakeven | 342 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.4% | -19.2% |
| % Gain to Breakeven | 28.9% | 23.8% |
| Time to Breakeven | 52 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.4% | -12.2% |
| % Gain to Breakeven | 25.6% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -20.8% | -6.8% |
| % Gain to Breakeven | 26.3% | 7.3% |
| Time to Breakeven | 15 days | 15 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.4% | -15.4% |
| % Gain to Breakeven | 27.3% | 18.2% |
| Time to Breakeven | 100 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -69.8% | -53.4% |
| % Gain to Breakeven | 230.8% | 114.4% |
| Time to Breakeven | 2651 days | 1085 days |
In The Past
SkyWest's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% 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 SkyWest (SKYW)
SkyWest, Inc. (SKYW) operates as a major regional airline primarily within the United States. Through its SkyWest Airlines segment, the company provides essential scheduled passenger and air freight services. It operates a significant fleet of aircraft, facilitating thousands of daily departures to a wide array of destinations across the United States, Canada, Mexico, and the Caribbean.
The company's business extends beyond its core flight operations to include a SkyWest Leasing segment. This division specializes in leasing regional jet aircraft and spare engines to other airlines. Additionally, SkyWest offers airport customer and ground handling services, providing critical operational support for various third-party airlines.
SkyWest's main customers for its airline services are passengers and freight shippers utilizing regional air travel. For its leasing and ground handling segments, the primary customers are other airlines. This strategic positioning makes SkyWest a key provider of both regional flight services and vital aviation infrastructure support across the North American market.
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- Think of SkyWest as the 'Uber for regional airlines.' They own the planes and employ the pilots, but operate flights primarily under the branding and scheduling of major airlines like Delta, United, and American.
- They're like the 'FedEx Ground' for the skies. Instead of packages, SkyWest moves passengers for major airlines on regional routes, often operating under the major airline's brand (e.g., 'United Express').
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- Regional Airline Services: Operates scheduled passenger and air freight services to various destinations.
- Aircraft and Engine Leasing: Leases regional jet aircraft and spare engines to other third-party airlines.
- Airport Customer and Ground Handling Services: Provides customer and ground handling support for other airlines at airports.
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- American Airlines Group (AAL)
- Delta Air Lines (DAL)
- United Airlines (UAL)
- Alaska Air Group (ALK)
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The major suppliers for SkyWest (SKYW) are:
- Embraer S.A. (NYSE: ERJ)
- General Electric Company (NYSE: GE)
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Russell "Chip" Childs, Chief Executive Officer, President & Director
Mr. Russell A. "Chip" Childs joined SkyWest in 2001 as Vice President – Controller and served as President and COO of SkyWest Airlines from 2007 to 2014. He was named CEO and nominated to the SkyWest, Inc. Board of Directors in January 2016, and has served as President of the entity since 2014. Prior to his employment with SkyWest, he worked in public accounting for five and a half years as an audit manager. He holds a bachelor's degree in Economics and a master's degree in Accounting from Brigham Young University. He also serves as Chairman of the Regional Airline Association and a Director on the Salt Lake City Branch of the Federal Reserve Bank of San Francisco.
Robert J. Simmons, Chief Financial Officer
Mr. Robert J. Simmons was appointed Chief Financial Officer of SkyWest, Inc. in March 2015, overseeing IT, HR, risk/benefits, finance, accounting, treasury, and investor relations. He founded RJS Healthcare, Inc. in 1990, where he serves as President. Previously, he was a Partner at Bendigo Partners LLC from 2009 to 2015, a firm that invests in technology-enabled financial services. He also held the position of CFO & Head of Investor Relations at E*TRADE Financial Corp. from 2003 to 2008 and CFO at ExpressJet Airlines LLC. He has served as Chairman and a board member of the Association for Financial Professionals. Mr. Simmons holds an MBA in finance from Northwestern University's Kellogg School of Management and a bachelor's degree in international business from Brigham Young University.
Wade Steel, Chief Commercial Officer
Mr. Wade Steel assumed the role of Chief Commercial Officer in March 2015. In this position, he is responsible for overseeing contract development and management, identifying business opportunities with network airlines, and managing fleet and purchasing activities. He previously served as Executive Vice President.
Greg Wooley, Executive Vice President of Operations
Mr. Greg Wooley serves as the Executive Vice President of Operations for SkyWest Airlines, a subsidiary of SkyWest, Inc.
Eric Woodward, Chief Accounting Officer
Mr. Eric Woodward holds the position of Chief Accounting Officer at SkyWest, Inc.
AI Analysis | Feedback
Here are the key risks to SkyWest (SKYW) in order of significance:
-
Reliance on Major Airline Partners: SkyWest Inc. is heavily dependent on a concentrated group of major airline partners, including Delta, United, American, and Alaska Airlines, for nearly all of its revenue through long-term Capacity Purchase Agreements (CPAs). Any loss or unfavorable renegotiation of these critical contracts could significantly impact SkyWest's revenue and profit margins.
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Labor Availability and Costs: The availability and cost of qualified labor, particularly regional airline pilots, pose a significant risk to SkyWest's operations. While pilot attrition has shown some signs of easing, competition for experienced pilots and the ongoing need to maintain competitive labor costs can constrain flight schedules and impact financial results.
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High Debt Load and Financial Obligations: SkyWest carries a substantial amount of long-term debt, totaling approximately $2.7 billion as of December 31, 2024, which primarily finances aircraft and spare engines. This significant level of fixed obligations necessitates steady cash flow and could potentially limit the company's ability to secure additional financing for future expansion or divert cash flows from operations. Additionally, the company's Altman Z-Score, a measure of financial distress, has been identified as a concern.
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Addressable Markets for SkyWest, Inc.
SkyWest, Inc. operates primarily in the North American aviation market, focusing on regional airline services, aircraft leasing, and airport customer and ground handling services.
Regional Airline Services (Scheduled Passenger and Air Freight)
The addressable market for SkyWest's regional airline services is primarily within North America, encompassing the United States, Canada, Mexico, and the Caribbean. The broader North America aviation market, which includes commercial aviation (passenger and freight), was estimated at approximately USD 84.14 billion in 2025 and is projected to reach USD 97.07 billion by 2030. The U.S. aviation market alone is expected to be around USD 85.50 billion in 2025, growing to USD 107.78 billion by 2031. SkyWest plays a significant role as the largest regional airline in North America. Regional aircraft constitute about 9% of the commercial fleet in the U.S. Globally, regional routes account for 56% of flight frequency.
Aircraft Leasing (Regional Jets and Spare Engines)
SkyWest's aircraft leasing activities target the regional jet and spare engine leasing market. The global regional jet market was valued at USD 5.7 billion in 2022 and is projected to grow to USD 10.6 billion by 2032. North America was the dominant region in this market in 2022. More specifically, the regional jet market in North America had a size of USD 5 billion in 2025, with the U.S. market projected to reach USD 3.74 billion by 2026. The global aircraft leasing market, encompassing all aircraft types, was valued at USD 194.40 billion in 2025 and is projected to increase to USD 377.90 billion by 2034. Regional aircraft contribute approximately 9% to the total leasing activity in the U.S. Another estimate puts the global regional aircraft market at USD 26.3 billion in 2024, with a projected growth to USD 35 billion by 2035.
Airport Customer and Ground Handling Services
The market for airport customer and ground handling services is a significant addressable market for SkyWest. The global Ground Handling Services Market was valued at USD 34,693.8 million in 2024 and is projected to reach USD 37,850.94 million by 2025, with an expected growth to over USD 83,192.67 million by 2034. North America held the largest share of the airport ground and cargo handling services market in 2025, valued at USD 17.87 billion. The U.S. airport ground and cargo handling services market is projected to reach USD 16.68 billion by 2026. North America also dominated the global Airport Ground Handling industry in 2023.
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SkyWest, Inc. (SKYW) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Fleet Modernization and Expansion with Embraer E175 Aircraft and Associated Long-Term Contracts: SkyWest plans to expand its Embraer E175 fleet to nearly 300 jets by the end of 2028, with deliveries scheduled through 2026, 2027, and 2028. This expansion is supported by multi-year contract extensions with major airline partners, including United Airlines and Delta Air Lines, which provide stable, fee-based revenue streams and clear visibility on fleet use and capacity through at least late 2028.
- Expansion into Small and Mid-Sized Communities: The company is focused on expanding service to small and mid-sized communities to meet regional travel demand. This initiative includes the redeployment of approximately 20 parked dual-class CRJ aircraft to these underserved markets.
- Increased Aircraft Utilization and Block Hours: Management anticipates mid-single-digit percentage growth in block hours for 2026 over 2025. This increase in production and utilization, driven by strong demand and operational efficiency, directly contributes to higher contract revenue.
- Sustained Strong Demand for Pro-rate Product: SkyWest continues to experience solid demand for its pro-rate product, which contributes to its overall revenue growth.
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Share Repurchases
- In May 2023, SkyWest's Board of Directors authorized a share repurchase program of up to $250 million.
- During the nine months ended September 30, 2023, SkyWest repurchased 9.6 million shares of common stock for $244 million.
- For the full year 2025, SkyWest used $85 million for share repurchases, acquiring nearly 850,000 shares. As of December 31, 2025, $213 million remained available under the current share repurchase authorization.
Share Issuance
- In Q1 2021, SkyWest issued warrants to the U.S. Treasury to purchase 98,815 shares of common stock at a strike price of $40.41 in exchange for payroll support program funding.
Inbound Investments
- During Q1 2021, SkyWest received $233 million in payroll support program grants from the U.S. Treasury, of which approximately $40 million was a ten-year, low-interest unsecured term loan.
- In April 2021, the company received an additional $35 million under PSP2, including about $10.5 million as a ten-year, low-interest unsecured term loan.
Outbound Investments
- In September 2025, SkyWest made a strategic investment in Maeve Aerospace, which included securing exclusive launch customer rights for the hybrid-electric MAEVE Jet.
Capital Expenditures
- SkyWest's capital expenditures were $549 million in 2021, $629 million in 2022, and $235 million in 2023.
- For the full year 2024, capital expenditures were approximately $306 million.
- Total capital expenditures for 2025 were approximately $580 million, primarily funding growth initiatives such as the purchase of seven new E175s, CRJ900 airframes, and aircraft and engines for the CRJ550 opportunity. SkyWest anticipates capital expenditures of approximately $600 million to $625 million in 2026, including the acquisition of nine new E175s.
Peer Outperformance in Passenger Airlines
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| SKYW | SkyWest | 14.2% | 7.6x | -18.7% | 83.5% | 84.8% | — |
| LTM | LATAM Airlines | 14.3% | 8.2x | 2.3% | 9694.0% | 2790.5% | +2,706pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 29 | -8.2% | 92.7% | 152.3% | STRL 1265% · FIX 1201% · AGX 751% |
| Marine Transportation | 5 | 47.3% | 44.2% | 146.6% | MATX 183% · KEX 151% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 16.0% | 61.2% | 102.0% | ALSN 260% · WAB 224% · CAT 221% |
| Aerospace & Defense | 52 | -12.4% | 62.8% | 70.6% | ATI 975% · FTAI 967% · HWM 604% |
| Trading Companies & Distributors | 19 | 20.9% | 40.4% | 58.3% | DXPE 413% · AIT 222% · URI 216% |
| Industrial Machinery & Supplies & Components | 72 | 6.2% | 55.1% | 36.5% | CRS 888% · MLI 337% · SYM 271% |
| Rail Transportation | 7 | 33.9% | 56.1% | 34.2% | CSX 55% · UNP 43% · NSC 34% |
| Diversified Support Services | 32 | 21.0% | 43.3% | 33.6% | CXW 240% · OPLN 169% · CACI 137% |
| Building Products | 32 | -6.2% | 13.0% | 24.0% | GFF 368% · TT 141% · JCI 118% |
| Cargo Ground Transportation | 16 | 33.6% | 10.8% | 9.9% | R 273% · XPO 263% · ARCB 27% |
| Electrical Components & Equipment | 37 | -6.2% | 74.9% | 5.4% | POWL 1808% · VRT 796% · BE 511% |
| Industrial Conglomerates | 17 | 14.6% | -0.6% | -5.4% | CSW 104% · CSL 81% · DD 67% |
| Office Services & Supplies | 9 | 25.6% | 20.4% | -11.2% | PBI 174% · TILE 165% · HNI 55% |
| Data Processing & Outsourced Services | 6 | -16.4% | 0.3% | -14.2% | EXLS 64% · BR 13% · G -13% |
| Research & Consulting Services | 13 | 4.9% | -10.7% | -19.3% | HURN 270% · FCN 31% · BAH 11% |
| Agricultural & Farm Machinery | 16 | 12.4% | -5.6% | -21.0% | DE 101% · TTC 22% · AGCO 6% |
| Security & Alarm Services | 9 | -54.3% | 16.3% | -27.6% | BCO 67% |
| Environmental & Facilities Services | 29 | -33.0% | 23.7% | -29.1% | GEO 228% · CLH 153% · RSG 95% |
| Passenger Airlines ← | 11 | 1.0% | 52.5% | -29.7% | LTM 2790% · UAL 128% · DAL 115% |
| Air Freight & Logistics | 12 | -24.7% | -8.8% | -39.0% | FDX 86% · EXPD 74% · CHRW 53% |
| Human Resource & Employment Services | 22 | 21.2% | -9.1% | -42.3% | ADP 48% · FA 28% · PAYX 9% |
| Passenger Ground Transportation | 3 | -18.8% | 39.7% | -63.3% | UBER 56% · LYFT -63% · CAR -67% |
| Airport Services | 4 | -53.4% | -61.7% | -86.5% | JOBY -51% |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 79.04 |
| Mkt Cap | 17.1 |
| Rev LTM | 23,712 |
| Op Inc LTM | 1,898 |
| FCF LTM | 125 |
| FCF 3Y Avg | 311 |
| CFO LTM | 2,756 |
| CFO 3Y Avg | 1,730 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.2% |
| Rev Chg 3Y Avg | 7.8% |
| Rev Chg Q | 21.1% |
| QoQ Delta Rev Chg LTM | 5.0% |
| Op Inc Chg LTM | 12.1% |
| Op Inc Chg 3Y Avg | 33.7% |
| Op Mgn LTM | 8.1% |
| Op Mgn 3Y Avg | 8.3% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 12.4% |
| CFO/Rev 3Y Avg | 13.3% |
| FCF/Rev LTM | 2.9% |
| FCF/Rev 3Y Avg | 2.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 17.1 |
| P/S | 0.7 |
| P/Op Inc | 7.6 |
| P/EBIT | 8.0 |
| P/E | 13.2 |
| P/CFO | 4.3 |
| Total Yield | 8.5% |
| Dividend Yield | 0.5% |
| FCF Yield 3Y Avg | 5.5% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.5% |
| 3M Rtn | -16.7% |
| 6M Rtn | 10.7% |
| 12M Rtn | 19.2% |
| 3Y Rtn | 127.2% |
| 1M Excs Rtn | -0.1% |
| 3M Excs Rtn | -16.4% |
| 6M Excs Rtn | 6.0% |
| 12M Excs Rtn | 10.2% |
| 3Y Excs Rtn | 61.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| SkyWest Airlines and SkyWest Charter (SWC) | 3,415 | 2,905 | 2,392 | 2,492 | 2,192 |
| SkyWest Leasing | 643 | 623 | 543 | 513 | 521 |
| Total | 4,058 | 3,528 | 2,935 | 3,005 | 2,713 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| SkyWest Leasing | 279 | 214 | 261 | 189 | 253 |
| SkyWest Airlines and SkyWest Charter (SWC) | -175 | -33 | 15 | -80 | 264 |
| ExpressJet | -5 | ||||
| Total | 104 | 181 | 276 | 109 | 512 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| SkyWest Leasing | 4,142 | 4,329 | 4,488 | 4,437 | 4,168 |
| SkyWest Airlines and SkyWest Charter (SWC) | 3,244 | 2,811 | 2,538 | 2,978 | 2,958 |
| Total | 7,386 | 7,140 | 7,026 | 7,415 | 7,126 |
Price Behavior
| Market Price | $81.68 | |
| Market Cap ($ Bil) | 3.2 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -29.5% | |
| 50 Days | 200 Days | |
| DMA Price | $96.07 | $95.90 |
| DMA Trend | down | down |
| Distance from DMA | -15.0% | -14.8% |
| 3M | 1YR | |
| Volatility | 39.7% | 40.0% |
| Downside Capture | 272.45 | 180.50 |
| Upside Capture | 89.82 | 140.98 |
| Correlation (S&P 500) | 51.4% | 46.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.98 | 2.22 | 2.12 | 1.38 | 1.43 | 1.34 |
| Up Beta | -1.44 | 0.77 | 2.07 | 0.91 | 1.19 | 1.42 |
| Down Beta | 5.08 | 4.89 | 4.06 | 1.62 | 1.21 | 1.29 |
| Up Capture | 116% | 126% | 96% | 143% | 168% | 226% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 10 | 22 | 30 | 62 | 121 | 382 |
| Down Capture | 313% | 202% | 229% | 142% | 142% | 107% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 21 | 33 | 63 | 129 | 367 |
[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 SKYW | |
|---|---|---|---|---|
| SKYW | -14.2% | 40.0% | -0.29 | - |
| Sector ETF (XLI) | 10.7% | 17.3% | 0.42 | 54.2% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 45.8% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | 21.1% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -41.5% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | 37.9% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 18.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SKYW | |
|---|---|---|---|---|
| SKYW | 11.7% | 43.5% | 0.39 | - |
| Sector ETF (XLI) | 11.7% | 17.6% | 0.50 | 54.8% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 51.4% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 7.0% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | -0.3% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 39.1% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 23.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SKYW | |
|---|---|---|---|---|
| SKYW | 10.8% | 51.7% | 0.41 | - |
| Sector ETF (XLI) | 13.4% | 20.1% | 0.58 | 58.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 51.2% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 2.0% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 13.4% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 44.8% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | -14.7% | ||
| 7/23/2026 | 7.7% | 12.5% | 5.0% |
| 4/23/2026 | -7.2% | -11.5% | -8.5% |
| 1/29/2026 | -4.9% | 0.2% | 0.2% |
| 10/30/2025 | 5.6% | 1.8% | 6.1% |
| 7/24/2025 | 1.0% | 4.3% | 7.1% |
| 4/24/2025 | -1.3% | 1.2% | 9.9% |
| 1/30/2025 | 3.6% | -0.5% | -17.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 12 | 10 | 10 |
| Median Positive | 6.8% | 8.5% | 9.9% |
| Median Negative | -6.2% | -6.2% | -8.7% |
| Max Positive | 17.6% | 17.2% | 31.5% |
| Max Negative | -22.4% | -13.4% | -39.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | -14.7% | ||
| 7/23/2026 | 7.7% | 12.5% | 5.0% |
| 4/23/2026 | -7.2% | -11.5% | -8.5% |
| 1/29/2026 | -4.9% | 0.2% | 0.2% |
| 10/30/2025 | 5.6% | 1.8% | 6.1% |
| 7/24/2025 | 1.0% | 4.3% | 7.1% |
| 4/24/2025 | -1.3% | 1.2% | 9.9% |
| 1/30/2025 | 3.6% | -0.5% | -17.4% |
| 10/31/2024 | 6.4% | 17.2% | 20.2% |
| 7/25/2024 | -9.2% | -9.8% | -9.7% |
| 4/25/2024 | 0.7% | 2.5% | 2.6% |
| 2/1/2024 | 8.2% | 10.4% | 20.8% |
| 10/26/2023 | 11.6% | 15.6% | 22.7% |
| 7/27/2023 | 12.3% | 8.5% | 1.3% |
| 4/27/2023 | 17.6% | 12.9% | 26.2% |
| 2/2/2023 | -15.3% | -12.7% | -7.9% |
| 10/27/2022 | -5.8% | -8.4% | -4.6% |
| 7/28/2022 | 7.2% | 9.5% | -3.2% |
| 4/28/2022 | 0.0% | -4.0% | -8.9% |
| 2/3/2022 | -22.4% | -13.4% | -39.5% |
| 10/28/2021 | -6.5% | -2.3% | -11.1% |
| 7/29/2021 | -2.6% | -1.8% | 16.6% |
| 4/29/2021 | -2.5% | -3.4% | -3.8% |
| 2/4/2021 | -3.0% | 1.1% | 31.5% |
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 12 | 10 | 10 |
| Median Positive | 6.8% | 8.5% | 9.9% |
| Median Negative | -6.2% | -6.2% | -8.7% |
| Max Positive | 17.6% | 17.2% | 31.5% |
| Max Negative | -22.4% | -13.4% | -39.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/30/2026 | 10-Q |
| 06/30/2026 | 07/24/2026 | 10-Q |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/30/2026 | 10-Q |
| 06/30/2026 | 07/24/2026 | 10-Q |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/18/2020 | 10-K |
Recent Forward Guidance
Updated 10/30/2026Latest: Q3 2026 Earnings Reported 10/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Anticipated E175 Aircraft Deliveries | Reported | 13 | ||||||
| 2027 Anticipated E175 Aircraft Deliveries | Reported | 18 | ||||||
| 2027 E175 Fleet Count | Reported | 300 | 300 | 0 | Affirmed | Guidance: 300 for 2027 | ||
| 2028 Anticipated E175 Aircraft Deliveries | Reported | 10 | ||||||
Prior: Q2 2026 Earnings Reported 7/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 E175 Fleet Size | Reported | 300 | ||||||
Q1 2026 Earnings Reported 4/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2028 E175 Aircraft Fleet Size | Reported | 300 | 0 | Affirmed | Guidance: 300 for 2028 | |||
Q4 2025 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2028 E175 Aircraft Fleet Size | Reported | 300 | ||||||
| 2028 E175 Aircraft Deliveries | Reported | 10 | 0 | Affirmed | Guidance: 10 for 2028 | |||
| 2026 E175 Aircraft Deliveries | Reported | 9 | -18.2% | Lowered | Guidance: 11 for 2026 | |||
| 2027 E175 Aircraft Deliveries | Reported | 10 | 0 | Affirmed | Guidance: 10 for 2027 | |||
Insider Activity
Updated 8/5/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 8052026 | 111.44 | 22,000 | 2,451,676 | 6,178,000 | Form |
| 2 | Childs, Russell A | PRESIDENT & CEO | Direct | Sell | 7302026 | 113.21 | 50,500 | 5,717,344 | 39,193,810 | Form |
| 3 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 2262026 | 106.53 | 20,629 | 2,197,568 | 8,249,323 | Form |
| 4 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 2192026 | 107.56 | 7,371 | 792,845 | 10,548,362 | Form |
| 5 | Madden, Meredith Siegfried | Direct | Sell | 12152025 | 106.54 | 4,725 | 503,414 | 2,702,133 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 8052026 | 111.44 | 22,000 | 2,451,676 | 6,178,000 | Form |
| 2 | Childs, Russell A | PRESIDENT & CEO | Direct | Sell | 7302026 | 113.21 | 50,500 | 5,717,344 | 39,193,810 | Form |
| 3 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 2262026 | 106.53 | 20,629 | 2,197,568 | 8,249,323 | Form |
| 4 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 2192026 | 107.56 | 7,371 | 792,845 | 10,548,362 | Form |
| 5 | Madden, Meredith Siegfried | Direct | Sell | 12152025 | 106.54 | 4,725 | 503,414 | 2,702,133 | Form | |
| 6 | Wooley, Greg | EXEC VP OPERATIONS | Direct | Sell | 8212025 | 116.83 | 2,000 | 233,660 | 7,796,884 | Form |
| 7 | Welch, James L | Direct | Sell | 8142025 | 116.09 | 10,000 | 1,160,888 | 3,217,633 | Form | |
| 8 | Childs, Russell A | PRESIDENT & CEO | Direct | Sell | 8142025 | 116.06 | 26,000 | 3,017,651 | 46,992,138 | Form |
| 9 | Simmons, Robert J | CHIEF FINANCIAL OFFICER | Direct | Sell | 8012025 | 117.46 | 17,186 | 2,018,616 | 13,392,097 | Form |
| 10 | Woodward, Eric | CHIEF ACCOUNTING OFFICER | Direct | Sell | 7312025 | 116.67 | 7,000 | 816,719 | 5,578,190 | Form |
| 11 | Steel, Wade J | CHIEF COMMERCIAL OFFICER | Direct | Sell | 7312025 | 118.26 | 17,000 | 2,010,369 | 12,111,406 | Form |
| 12 | Welch, James L | Direct | Sell | 7312025 | 118.25 | 10,000 | 1,182,541 | 4,460,190 | Form |
Investor Activity (13F)
Updated Nov 3, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
| Active Manager |
|---|
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Passenger Airlines Resources |
| FlightGlobal |
| Airline Weekly |
| Skift Airlines |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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