SKYWSkyWest, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (2.1×) and margins widening.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is SKYW?
SkyWest, Inc. earns 10% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 1.4 points above what the capital costs: growth creates value
- Operating margin
- 14%
Operating margin · Airlines median 7.9% · 12 months to Q2 2026
- Cash conversion
- 2.08×
Cash conversion · 1.78× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −4.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 5.1% |
| FY2021 | 10% |
| FY2022 | 6.0% |
| FY2023 | 3.5% |
| FY2024 | 14% |
| FY2025 | 15% |
Details›
- Operating margin12 months to Q2 2026
- 14%
- Free cash flow margin
- 10%
- Revenue, trailing twelve months
- $4.19B
- Free cash flow, trailing twelve months
- $425M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.