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Mesa Air Group Balance Sheet 2025-2011 | MESA
Brief overview of Mesa Air Group's assets and capital
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
Assets rose from $1.5 billion to $3.3 billion, a gain of +124.9%, while CAGR was about 22.5%. The balance sheet expanded rapidly.
Liabilities grew more slowly than assets: +101.1% versus +124.9%. Expansion relied more on equity, improving funding quality.
Shareholders' equity accounts for 40.5% of assets, previously 33.5%. Dependence on liabilities is moderate.
Net debt equals about 0.68x of equity. The burden is manageable, but further growth would warrant attention.
Cash equals 4.1% of the balance sheet, compared with 8.5% five periods ago. This is the readily available cushion.
Retained earnings stand at $708.5 million; the five-period change was +205.8%. This reflects accumulated business performance.
Balance sheet takeaway
Mesa Air Group's financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.
Annual Balance Sheet Mesa Air Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
908 M | -13.2 M | 335 M | 422 M | 448 M | 484 M | 774 M | 812 M | 888 M | 875 M | - | - | - | - | - |
Long Term Debt |
1.03 B | 83.8 M | 365 M | 503 M | 540 M | 542 M | 677 M | 760 M | 804 M | 803 M | - | - | - | - | - |
Long Term Debt Current |
16.5 M | 13.5 M | 3.51 M | 17.2 M | 32.7 M | 43.9 M | 166 M | 155 M | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | 132 M | 431 M | 593 M | 710 M | 691 M | 769 M | 847 M | 917 M | 902 M | - | - | - | - | - |
Total Current Liabilities |
574 M | 489 M | 268 M | 214 M | 258 M | 353 M | 257 M | 251 M | - | - | - | - | - | - | - |
Total Liabilities |
1.95 B | 1.65 B | 698 M | 807 M | 969 M | 1.04 B | 1.03 B | 1.1 B | 1.14 B | 1.09 B | - | - | - | - | - |
Deferred Revenue |
- | 4.96 M | 4.88 M | 385 K | 6.3 M | 9.39 M | - | - | - | - | - | - | - | - | - |
Retained Earnings |
708 M | 632 M | -71.1 M | 49 M | 232 M | 215 M | 187 M | 140 M | 108 M | 74.9 M | - | - | - | - | - |
Total Assets |
3.28 B | 2.77 B | 898 M | 1.12 B | 1.46 B | 1.5 B | 1.45 B | 1.47 B | 1.36 B | 1.28 B | - | - | - | - | - |
Cash and Cash Equivalents |
134 M | 110 M | 32.9 M | 98.1 M | 124 M | 103 M | 68.9 M | 103 M | 56.8 M | - | - | - | - | - | - |
Book Value |
1.33 B | 1.12 B | 200 M | 308 M | 488 M | 458 M | 426 M | 374 M | 222 M | 189 M | - | - | - | - | - |
Total Shareholders Equity |
1.33 B | 1.11 B | 1.05 B | 991 M | 488 M | 458 M | 426 M | 374 M | 222 M | 189 M | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Mesa Air Group
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
909 M | 27 M | 31.7 M | 83.8 M | 260 M | 288 M | 299 M | 315 M | 365 M | - | 464 M | 598 M | 503 M | 523 M | 521 M | 547 M | 540 M | 586 M | 540 M | 624 M | 542 M | 542 M | 542 M | 641 M | 677 M | 677 M | 677 M | 728 M | 760 M | 760 M | 760 M | - | 804 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | 41.6 M | 75.3 M | 135 M | 312 M | 342 M | 355 M | 379 M | 431 M | - | 538 M | 673 M | 593 M | 657 M | 671 M | 710 M | 710 M | 754 M | 710 M | 783 M | 691 M | 691 M | 691 M | 808 M | 769 M | 769 M | 769 M | 818 M | 847 M | 847 M | 847 M | - | 917 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
1.91 B | 212 M | 277 M | 388 M | 487 M | 529 M | 552 M | 633 M | 698 M | - | 780 M | 860 M | 807 M | 897 M | 921 M | 960 M | 969 M | 1.03 B | 969 M | 1.07 B | 1.04 B | 1.04 B | 1.04 B | 1.1 B | 1.03 B | 1.03 B | 1.03 B | 1.05 B | 1.1 B | 1.1 B | 1.1 B | - | 1.14 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
- | 5.64 M | 5.38 M | 4.96 M | 3.93 M | 4.44 M | 2.81 M | 3.98 M | 4.88 M | - | 5.17 M | 1.2 M | 385 K | 726 K | 2.68 M | 5.53 M | 6.3 M | 6.49 M | 6.3 M | 51.3 M | 9.39 M | 9.39 M | 9.39 M | - | 1.51 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
735 M | -326 M | -335 M | -277 M | -162 M | -137 M | -117 M | -129 M | -71.1 M | - | 4.78 M | 39.9 M | 49 M | 165 M | 175 M | 217 M | 232 M | 239 M | 232 M | 229 M | 215 M | 215 M | 215 M | 198 M | 187 M | 187 M | 187 M | 159 M | 140 M | 140 M | 140 M | - | 108 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
3.26 B | 159 M | 215 M | 384 M | 597 M | 664 M | 706 M | 776 M | 898 M | - | 1.06 B | 1.16 B | 1.12 B | 1.32 B | 1.35 B | 1.43 B | 1.46 B | 1.53 B | 1.46 B | 1.55 B | 1.5 B | 1.5 B | 1.5 B | 1.54 B | 1.45 B | 1.45 B | 1.45 B | 1.44 B | 1.47 B | 1.47 B | 1.47 B | - | 1.36 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
111 M | 38.7 M | 54.1 M | 40 M | 15.6 M | 19.3 M | 21.5 M | 16.1 M | 32.9 M | 51.5 M | 54.6 M | 59.4 M | 57.7 M | 54.4 M | 79.2 M | 106 M | 121 M | 184 M | 121 M | 181 M | 103 M | 99.4 M | 99.4 M | 57.8 M | 68.9 M | 68.9 M | 68.9 M | 88.6 M | 103 M | 103 M | 88.6 M | 79 M | 56.8 M | 22.9 M | - | - | 37.7 M | - | - | - | 58.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
1.35 B | -52.6 M | -62.4 M | -4.04 M | 110 M | 135 M | 155 M | 143 M | 200 M | - | 275 M | 300 M | 308 M | 423 M | 433 M | 474 M | 488 M | 495 M | 488 M | 484 M | 458 M | 458 M | 458 M | 438 M | 426 M | 426 M | 426 M | 395 M | 374 M | 374 M | 374 M | - | 222 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
1.35 B | -52.6 M | -62.4 M | -4.04 M | 110 M | 135 M | 155 M | 143 M | 200 M | 228 M | 275 M | 300 M | 308 M | 423 M | 433 M | 474 M | 488 M | 495 M | 491 M | 484 M | 458 M | 484 M | 484 M | 438 M | 438 M | 438 M | 438 M | 395 M | 395 M | 395 M | 395 M | 246 M | 222 M | - | - | - | 189 M | - | - | - | 172 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Mesa Air Group, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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