Frontier Group Holdings (ULCC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Frontier Group Holdings

NasdaqGS•Industrials•Airlines

$6.48+0.31(0.05%)Pre-market

Market Cap

$1.71B

P/S

0.4x

P/B

46.2x

Frontier Group Holdings, Inc., provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, such as websites, mobile apps, and contact centers. As of December 31, 2025, it had a fleet of 176 Airbus single-aisle aircraft. Frontier Group Holdings, Inc. was founded in 1994 and is headquartered in Denver, Colorado.

How this company scores

AverageMetricSide Score: 47/100

Strongest: Cash & Earnings Quality (16/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability8/25

Growth15/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality16/25

Strengths

Growing revenueLong cash runwayNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 14.5x5y range 14.5x – 28.9x

Currently near its 5-quarter median.

P/S · 0.4x5y range 0.2x – 1.4x

Currently near its 20-quarter median.

P/B · 46.2x5y range 1.6x – 46.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.71B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.62B
Q. Revenue: $1.35B
TTM EBITDA: $-236.00M
TTM Op. Income: $-439.00M
Q. Op. Income: $-108.00M
TTM Net Income: $-413.00M
Q. Net Income: $-104.00M
EPS: $-0.45
Shares Out.: $230.24M

$4.62B in TTM revenue grew 24.0% YoY, reaching $1.35B last quarter. TTM EBITDA of $-236.00M and TTM operating income of $-439.00M show growth is flowing through to the bottom line. However, net income is negative at $413.00M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -3.6%
Op. Margin: -8.0%
Net Margin: -7.7%

Op. margin of -8.0% is up 0.7% YoY — cost efficiency is improving. Net margin at -7.7% Over the past year, operating margin is up 8% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.4x
P/B Ratio: 46.2x

P/S of 0.4x and P/B of 46.2x. P/S is low relative to typical market levels. Over the past year, P/E is up 0% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.03B
Cash: $976.00M
Long-Term Debt: $322.00M
Book Value: $37.00M
D/E Ratio: 8.7
Debt/EBITDA: N/A

With $7.03B in assets and $322.00M in long-term debt, D/E is 8.7and book value is $37.00M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-41.00M
TTM Free Cash Flow: $2.00M
FCF Margin: 0.0%
FCF / Net Income: -0.0

TTM FCF of $2.00M on $-41.00M in operating cash flow. The FCF / Net Income ratio of -0.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.