SkyWest Inc Stock Research

Market Summary

USD19.85+1.05

Market Closed

5.59%

SKYW Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

SKYW Stock Price

SKYW RSI Chart

SKYW Valuation

Market Cap

922.3M

Price/Earnings (Trailing)

12.64

Price/Sales (Trailing)

0.31

EV/EBITDA

6.89

Price/Free Cashflow

1.97

SKYW Price/Sales (Trailing)

SKYW Profitability

EBT Margin

3.08%

Return on Equity

3.11%

Return on Assets

0.98%

Free Cashflow Yield

50.67%

SKYW Fundamentals

SKYW Revenue

Revenue (TTM)

3.0B

Revenue Y/Y

-12.34%

Revenue Q/Q

-13.71%

SKYW Earnings

Earnings (TTM)

73.0M

Earnings Y/Y

-1.2K%

Earnings Q/Q

-197.38%

Price Action

52 Week Range

14.7633.35

(Low)(High)

Last 7 days

8.3%

Last 30 days

0.3%

Last 90 days

29.8%

Trailing 12 Months

-29.6%

SKYW Financial Health

Current Ratio

1.17

Debt/Equity

1.45

Debt/Cashflow

0.14

SKYW Investor Care

Shares Dilution (1Y)

0.42%

Diluted EPS (TTM)

1.44

Peers (Alternatives to SkyWest)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
FDX	57.2B	94.1B	8.14%	-2.48%	17.16	0.61	5.07%	-32.20%
DAL	24.5B	50.6B	-14.00%	-15.25%	298.7	0.53	69.18%	370.71%
LUV	17.9B	23.8B	-9.71%	-31.35%	18.7	0.75	50.82%	-2.15%
UAL	13.7B	45.0B	-16.47%	-2.87%	18.6	0.31	82.49%	137.53%
AAL	9.1B	49.0B	-10.41%	-18.05%	71.42	0.19	63.88%	106.37%
MID-CAP
ALK	5.0B	9.6B	-17.57%	-32.12%	85.73	0.52	56.19%	-87.87%
AAWW	2.9B	4.5B	0.24%	22.01%	8.22	0.64	12.86%	-27.86%
JBLU	2.2B	9.2B	-16.32%	-53.16%	-6.16	0.24	51.67%	-98.90%
SMALL-CAP
SAVE	1.8B	5.1B	-11.57%	-22.05%	-3.29	0.36	56.88%	-17.26%
ALGT	1.5B	2.3B	-16.18%	-46.09%	588.83	0.64	34.77%	-98.36%
ATSG	1.5B	2.0B	2.13%	-38.98%	7.31	0.71	17.94%	-14.19%
SKYW	922.3M	3.0B	0.30%	-29.56%	12.64	0.31	10.74%	-34.81%
HA	397.7M	2.6B	-21.85%	-57.60%	-1.66	0.15	65.43%	-65.83%
MESA	79.5M	530.4M	-27.42%	-49.78%	-0.45	0.15	5.88%	-1403.68%
AIRT	64.5M	224.4M	-0.13%	-0.39%	-25.64	0.29	30.18%	-139.59%

Financials for SkyWest

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-3.1%	3,005	3,101	3,056	2,914	2,713
Operating Expenses	-1.0%	2,824	2,852	2,836	2,667	2,438
EBITDA	-10.9%	614	689	654	679	-
EBITDA Margin	-8.0%	0.20*	0.22*	0.21*	0.23*	-
Earnings Before Taxes	-41.9%	93.00	159	117	125	151
EBT Margin	-40.0%	0.03*	0.05*	0.04*	0.04*	-
Interest Expenses	4.9%	127	121	117	120	123
Net Income	-41.4%	73.00	124	86.00	94.00	112
Net Income Margin	-39.5%	0.02*	0.04*	0.03*	0.03*	-
Free Cahsflow	-0.4%	467	469	529	605	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.5%	7,415	7,454	7,337	7,149	7,126
Current Assets	8.6%	1,371	1,262	1,217	1,072	1,069
Cash Equivalents	165.1%	103	39.00	96.00	246	258
Net PPE	-2.5%	5,500	5,639	5,600	5,500	5,499
Current Liabilities	1.1%	1,173	1,160	1,198	1,142	1,195
Long Term Debt	3.7%	3,411	3,289	3,109	-	-
LT Debt, Current	2.1%	439	429	425	410	392
LT Debt, Non Current	-1.4%	2,942	2,982	2,864	2,791	2,717
Shareholder's Equity	-2.0%	2,348	2,396	2,345	2,290	2,268
Retained Earnings	-2.1%	2,237	2,284	2,236	2,182	2,164
Accumulated Depreciation	-1.7%	2,884	2,934	2,855	2,826	2,731
Shares Outstanding	0.1%	51.00	51.00	50.00	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-1.6%	480	488	548	621	832
Share Based Compensation	5.9%	9.00	9.00	-	-	-
Cashflow From Investing	22.4%	-904	-1,166	-1,072	-701	-698
Cashflow From Financing	-39.5%	269	445	275	96.00	-90.60

Risks for SKYW

What is the probability of a big loss on SKYW?

84.6%

Probability that SkyWest stock will be more than 20% underwater in next one year

73.8%

Probability that SkyWest stock will be more than 30% underwater in next one year.

42.7%

Probability that SkyWest stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SKYW drawdown profile look like?

Y-axis is the maximum loss one would have experienced if SkyWest was unfortunately bought at previous high price.

Drawdowns

Returns for SKYW

Cumulative Returns on SKYW

2.9%

10-Year Cumulative Returns

1.0%

7-Year Cumulative Returns

-17.8%

5-Year Cumulative Returns

-9.8%

3-Year Cumulative Returns

What are the long-term rolling returns for SKYW?

FIve years rolling returns for SkyWest.

Annualized Returns

Which funds bought or sold SKYW recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	unchanged	-	6,534	431,522	-%
2023-03-17	American Portfolios Advisors	unchanged	-	-499	1,626	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	16.83	161,325	1,028,320	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	1,000	14,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-52.5	-335,871	313,129	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	4,000	249,000	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-641,000	-	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	sold off	-100	-1,000	-	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-0.4	14,490	1,295,490	-%
2023-02-15	Metropolitan Life Insurance Co/NY	unchanged	-	497	49,497	-%

Latest Funds Activity

Are funds buying SKYW calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SKYW

No. of Funds

SkyWest News

Schedule 13G FIlings of SkyWest

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	kopernik global investors, llc	5.37%	2,716,022	SC 13G
Feb 14, 2023	alliancebernstein l.p.	0.2%	78,467	SC 13G/A
Feb 09, 2023	vanguard group inc	12.20%	6,171,853	SC 13G/A
Feb 08, 2023	etf series solutions	9293%	3,506,106	SC 13G
Jan 23, 2023	blackrock inc.	16.5%	8,361,249	SC 13G/A
Feb 14, 2022	alliancebernstein l.p.	6.8%	3,420,591	SC 13G/A
Feb 10, 2022	vanguard group inc	11.36%	5,724,478	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	6.6%	3,311,728	SC 13G/A
Jan 27, 2022	blackrock inc.	15.9%	7,987,322	SC 13G/A
Jan 25, 2022	blackrock inc.	15.9%	7,987,322	SC 13G/A

SKYW Fair Value

SkyWest fair value in different scenarios

The table shows the Fair Value estimates for SkyWest for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	14.62 -26.35%	22.70 14.36%	35.57 79.19%	54.54 174.76%	69.44 249.82%
Current Inflation	23.48 18.29%	28.89 45.54%	39.85 100.76%	46.60 134.76%	53.52 169.62%
Very High Inflation	12.22 -38.44%	18.25 -8.06%	27.51 38.59%	40.82 105.64%	51.07 157.28%

Historical SkyWest Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of SkyWest

View All Filings

Date Filed	Form Type	Document
Mar 23, 2023	ARS	ARS
Mar 23, 2023	DEF 14A	DEF 14A
Mar 23, 2023	DEFA14A	DEFA14A
Feb 24, 2023	4	Insider Trading
Feb 16, 2023	10-K	Annual Report
Feb 14, 2023	SC 13G	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	4	Insider Trading
Feb 10, 2023	4	Insider Trading
Feb 10, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for SKYW

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-10	Childs Russell A	acquired	83,258	19.00	4,382	president & ceo
2023-02-09	Steel Wade J	acquired	119,973	19.11	6,278	chief commercial officer
2023-02-08	Steel Wade J	acquired	79,996	19.17	4,173	chief commercial officer
2023-02-08	WELCH JAMES L	bought	37,900	18.95	2,000	-
2023-02-08	Woodward Eric	acquired	60,692	19.17	3,166	chief accounting officer
2023-02-08	Childs Russell A	acquired	84,137	19.17	4,389	president & ceo
2023-02-07	Childs Russell A	sold (taxes)	-48,918	18.65	-2,623	president & ceo
2023-02-07	Wooley Greg	acquired	-	-	859	exec vp operations
2023-02-07	Conjeevaram Smita	acquired	-	-	5,362	-
2023-02-07	MITTELSTAEDT RONALD J	acquired	-	-	5,362	-

About SkyWest

Russell A. Childs

www.skywest.com

15200

SkyWest, Inc., through its subsidiaries, operates a regional airline in the United States. The company operates through two segment, SkyWest Airlines and SkyWest Leasing. It also leases regional jet aircraft and spare engines to third parties. As of December 31, 2021, the company's fleet consisted of 629 aircraft; and provided scheduled passenger and air freight services with approximately 2,080 total daily departures to various destinations in the United States, Canada, Mexico, and the Caribbean. In addition, it offers airport customer and ground handling services for other airlines. SkyWest, Inc. was incorporated in 1972 and is headquartered in St. George, Utah.

SKYW Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING REVENUES:
Total operating revenues	$ 3,004,925	$ 2,713,491	$ 2,127,106
OPERATING EXPENSES:
Salaries, wages and benefits	1,211,551	986,664	826,109
Aircraft maintenance, materials and repairs	644,157	817,803	618,989
Depreciation and amortization	394,552	440,198	474,959
Aircraft fuel	108,456	107,057	61,739
Aircraft rentals	75,353	63,357	65,316
Airport-related expenses	71,549	104,690	93,886
Special items		84,592
Payroll support grant		(422,669)	(345,491)
Other operating expenses	318,145	255,932	222,797
Total operating expenses	2,823,763	2,437,624	2,018,304
OPERATING INCOME	181,162	275,867	108,802
OTHER INCOME (EXPENSE):
Interest income	17,605	1,114	5,879
Interest expense	(127,083)	(123,122)	(123,173)
Other income (expense), net	20,899	(3,249)	1,165
Total other expense, net	(88,579)	(125,257)	(116,129)
INCOME (LOSS) BEFORE INCOME TAXES	92,583	150,610	(7,327)
PROVISION FOR INCOME TAXES	19,630	38,700	1,188
NET INCOME (LOSS)	$ 72,953	$ 111,910	$ (8,515)
BASIC EARNINGS PER SHARE (in dollars per share)	$ 1.44	$ 2.22	$ (0.17)
DILUTED EARNINGS PER SHARE (in dollars per share)	$ 1.44	$ 2.20	$ (0.17)
Weighted average common shares:
Basic (in shares)	50,548	50,348	50,195
Diluted (in shares)	50,644	50,753	50,195
COMPREHENSIVE INCOME (LOSS):
Net income (loss)	$ 72,953	$ 111,910	$ (8,515)
Net unrealized depreciation on marketable securities, net of taxes	(3,802)
TOTAL COMPREHENSIVE INCOME (LOSS)	69,151	111,910	(8,515)
Flying agreements
OPERATING REVENUES:
Total operating revenues	2,899,837	2,615,076	2,060,801
Lease, airport services and other
OPERATING REVENUES:
Total operating revenues	$ 105,088	$ 98,415	$ 66,305

SKYW Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 102,984	$ 258,421
Marketable securities	944,231	601,989
Receivables, net	100,523	65,348
Inventories, net	123,209	104,093
Other current assets	100,334	38,742
Total current assets	1,371,281	1,068,593
PROPERTY AND EQUIPMENT:
Aircraft and rotable spares	8,143,614	7,848,100
Deposits on aircraft	23,931	124,964
Buildings and ground equipment	265,019	256,595
Total property and equipment, gross	8,432,564	8,229,659
Less-accumulated depreciation and amortization	(2,884,084)	(2,731,060)
Total property and equipment, net	5,548,480	5,498,599
OTHER ASSETS:
Operating lease right-of-use assets	151,928	238,516
Long-term receivables and other assets	342,864	320,239
Total other assets	494,792	558,755
Total assets	7,414,553	7,125,947
CURRENT LIABILITIES:
Current maturities of long-term debt	438,502	391,798
Accounts payable	422,001	496,333
Accrued salaries, wages and benefits	186,285	150,583
Current maturities of operating lease liabilities	71,726	78,886
Taxes other than income taxes	20,480	28,869
Other current liabilities	33,549	48,152
Total current liabilities	1,172,543	1,194,621
LONG-TERM DEBT, net of current maturities	2,941,772	2,717,420
DEFERRED INCOME TAXES PAYABLE	687,060	663,236
NONCURRENT OPERATING LEASE LIABILITIES	88,622	158,274
OTHER LONG-TERM LIABILITIES	176,925	124,882
COMMITMENTS AND CONTINGENCIES (Note 7)
STOCKHOLDERS' EQUITY:
Preferred stock, 5,000,000 shares authorized; none issued
Common stock, no par value, 120,000,000 shares authorized; 82,592,830 and 82,335,970 shares issued as of December 31, 2022, and December 31, 2021, respectively	734,426	722,310
Retained earnings	2,236,869	2,163,916
Treasury stock, at cost, 31,994,416 and 31,956,047 shares as of December 31, 2022, and December 31, 2021, respectively	(619,862)	(618,712)
Accumulated other comprehensive loss	(3,802)
Total stockholders' equity	2,347,631	2,267,514
Total liabilities and stockholders' equity	$ 7,414,553	$ 7,125,947