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Frontier Group Holdings vs Skywest: ULCC and SKYW compared
Frontier Group Holdings is the larger company: $1.4B of revenue in its latest quarter (Q3 2026) against $1.1B for Skywest (Q3 2026). Frontier Group Holdings is growing faster (+53% against +6% a year earlier). Skywest is more profitable, with an operating margin of 15.8% against -8.0%.
Where the money goes: ULCC and SKYW
Frontier Group Holdings (ULCC) · Q3 2026
Frontier Group Holdings, Q3 2026: revenue $1.4B (+53% year over year), operating margin -8.0%, net loss $104M, operating cash flow −$41.0M. The chart follows the revenue to costs, profit and cash.
Skywest (SKYW) · Q3 2026
Skywest, Q3 2026: revenue $1.1B (+6% year over year), operating margin 15.8%, net earnings $120M, operating cash flow $131M. The chart follows the revenue to costs, profit and cash.
| Frontier Group Holdings (ULCC) | Skywest (SKYW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.4B | $1.1B |
| Revenue growth, Y/Y | +53% | +6% |
| Operating margin | -8.0% | 15.8% |
| Net earnings | −$104M | $120M |
| Net margin | -7.7% | 10.7% |
| Operating cash flow | −$41.0M | $131M |
| Free cash flow | — | $125M |
| Market value | $1.7B | $3.1B |
| P/E | — | 7.7× |
| Analysts’ mean target | $6.94 | $117.83 |
Where the revenue comes from
Frontier Group Holdings
- Passenger: $1.3B (98%)
- Other: $28.0M (2%)
Skywest
- Flying agreements: $1.1B (97%)
- Lease, airport services and other: $33.2M (3%)
Questions
Which is bigger, Frontier Group Holdings or Skywest?
Frontier Group Holdings is the larger company: $1.4B of revenue in its latest quarter (Q3 2026) against $1.1B for Skywest (Q3 2026).
Is Frontier Group Holdings or Skywest growing faster?
Frontier Group Holdings is growing faster (+53% against +6% a year earlier).
Which is more profitable, Frontier Group Holdings or Skywest?
Skywest is more profitable, with an operating margin of 15.8% against -8.0%.
More: Frontier Group Holdings earnings · how Frontier Group Holdings makes money · Skywest earnings · how Skywest makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.