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SkyWest Balance Sheet 2025-2008 | SKYW
Brief overview of SkyWest's balance sheet structure
The comparison uses five available annual reports from the 2015–2019 interval.
The balance sheet expanded from $4.8 billion to $6.7 billion. Growth of +38.6% and CAGR of 8.5% look measured and sustainable.
Asset growth of +38.6% was close to the +36% change in liabilities, leaving the funding profile broadly stable.
Equity represents 32.7% of assets versus 31.4% initially. The capital structure appears balanced.
Net debt equals about 1.34x of equity. The burden is manageable, but further growth would warrant attention.
Cash accounts for 1.3% of assets versus 4.2% initially. The change indicates the degree of financial flexibility.
Accumulated earnings ended at $2.1 billion, a change of +63.1%. They remain an important part of the capital base.
Overall picture
SkyWest retains a reasonably healthy balance sheet structure, which still needs support from earnings and cash flow.
Annual Balance Sheet SkyWest
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
1.74 B | 1.93 B | 2.43 B | 2.91 B | 2.54 B | 2.67 B | 2.91 B | 2.83 B | 2.51 B | 2.4 B | 1.75 B | 1.61 B | 1.3 B | 1.51 B | 1.69 B | 1.79 B | - | - |
Long Term Debt |
1.85 B | 2.14 B | 2.56 B | 2.94 B | 2.72 B | 2.8 B | 2.63 B | 2.81 B | 2.38 B | 2.24 B | 1.68 B | 1.53 B | 1.29 B | 1.47 B | 1.61 B | 1.74 B | - | - |
Long Term Debt Current |
19.6 M | 20.5 M | 19.3 M | 71.7 M | 78.9 M | 82.6 M | 94.8 M | 350 M | 310 M | 305 M | 272 M | 212 M | 177 M | 171 M | 208 M | 159 M | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 3.56 B | 3.42 B | 2.88 B | 3.04 B | 2.55 B | 2.33 B | 2.18 B | 2.28 B | 2.32 B | - | - | - |
Total Current Liabilities |
1.67 B | 1.43 B | 1.25 B | 1.17 B | 1.19 B | 942 M | 925 M | 925 M | 821 M | 747 M | 751 M | 684 M | 620 M | 591 M | 624 M | 572 M | - | - |
Total Liabilities |
- | - | - | - | - | - | 4.48 B | 4.35 B | 3.7 B | 3.79 B | 3.3 B | 3.01 B | 2.8 B | 2.87 B | 2.95 B | - | - | - |
Deferred Revenue |
164 M | 54.8 M | 61 M | 5.2 M | 24.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
3.02 B | 2.59 B | 2.27 B | 2.24 B | 2.16 B | 2.05 B | 2.08 B | 1.78 B | 1.52 B | 1.1 B | 1.28 B | 1.17 B | 1.2 B | 1.15 B | 1.1 B | 1.14 B | - | - |
Total Assets |
7.39 B | 7.14 B | 7.03 B | 7.41 B | 7.13 B | 6.89 B | 6.66 B | 6.31 B | 5.46 B | 5.14 B | 4.8 B | 4.41 B | 4.23 B | 4.25 B | 4.28 B | 4.45 B | 4.31 B | - |
Cash and Cash Equivalents |
123 M | 227 M | 148 M | 103 M | 258 M | 216 M | 87.2 M | 328 M | 182 M | 147 M | 203 M | 132 M | 171 M | 134 M | 130 M | 112 M | 76.4 M | 126 M |
Book Value |
7.39 B | 7.14 B | 7.03 B | 7.41 B | 7.13 B | 6.89 B | 2.18 B | 1.96 B | 1.75 B | 1.35 B | 1.51 B | 1.4 B | 1.43 B | 1.39 B | 1.33 B | 4.45 B | 4.31 B | - |
Total Shareholders Equity |
2.75 B | 2.41 B | 2.11 B | 2.35 B | 2.27 B | 2.14 B | 2.18 B | 1.96 B | 1.75 B | 1.35 B | 1.51 B | 1.4 B | 1.43 B | 1.39 B | 1.33 B | 1.42 B | 1.35 B | 1.28 B |
All numbers in USD currency
Quarterly Balance Sheet SkyWest
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 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 |
1.64 B | 1.8 B | 1.87 B | 2.01 B | 2.07 B | 2.2 B | 2.28 B | 2.39 B | 2.63 B | 2.74 B | 2.86 B | 2.94 B | 2.98 B | - | 2.79 B | 2.72 B | 2.61 B | 2.65 B | 2.75 B | 2.8 B | 2.8 B | 2.8 B | 2.8 B | 2.63 B | 2.63 B | 2.63 B | 2.63 B | 2.81 B | 2.81 B | 2.81 B | 2.81 B | 2.38 B | 2.38 B | 2.38 B | 2.38 B | 2.24 B | 2.24 B | 2.24 B | 2.24 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 1.53 B | 1.53 B | 1.53 B | 1.53 B | 1.29 B | 1.29 B | 1.29 B | 1.29 B | 1.47 B | 1.47 B | 1.47 B | 1.47 B | 1.61 B | 1.61 B | 1.61 B | 1.61 B |
Deferred Revenue |
78.8 M | 85.8 M | 134 M | 105 M | 73 M | 59.6 M | 64.2 M | 58 M | 10 M | 7.3 M | 5.6 M | 5.2 M | 1.7 M | - | 33 M | 24.5 M | 70.5 M | 60.5 M | 19.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
3.22 B | 3.12 B | 2.93 B | 2.81 B | 2.69 B | 2.5 B | 2.41 B | 2.33 B | 2.25 B | 2.23 B | 2.21 B | 2.24 B | 2.28 B | - | 2.18 B | 2.16 B | 2.16 B | 2.15 B | 2.09 B | 2.05 B | 2.05 B | 2.05 B | 2.05 B | 2.08 B | 2.08 B | 2.08 B | 2.08 B | 1.78 B | 1.78 B | 1.78 B | 1.78 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 1.1 B | 1.1 B | 1.1 B | 1.1 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.17 B | 1.17 B | 1.17 B | 1.17 B | 1.2 B | 1.2 B | 1.2 B | 1.2 B | 1.15 B | 1.15 B | 1.15 B | 1.15 B | 1.1 B | 1.1 B | 1.1 B | 1.1 B |
Total Assets |
7.41 B | 7.35 B | 7.21 B | 7.17 B | 7.11 B | 6.96 B | 6.96 B | 6.98 B | 7.06 B | 7.12 B | 7.23 B | 7.41 B | 7.45 B | 7.34 B | 7.15 B | 7.13 B | 6.94 B | 6.99 B | 6.89 B | 6.89 B | 6.89 B | 6.89 B | 6.89 B | 6.66 B | 6.66 B | 6.66 B | 6.66 B | 6.31 B | 6.31 B | 6.31 B | 6.31 B | 5.47 B | 5.47 B | 5.47 B | 5.47 B | 5.01 B | 5.01 B | 5.01 B | 5.01 B | 4.78 B | 4.78 B | 4.78 B | 4.78 B | 4.39 B | 4.41 B | 4.41 B | 4.41 B | 4.23 B | 4.23 B | 4.23 B | 4.23 B | 4.25 B | 4.25 B | 4.25 B | 4.25 B | 4.28 B | 4.28 B | 4.28 B | 4.28 B |
Cash and Cash Equivalents |
81.4 M | 65.8 M | 44.5 M | 48.3 M | 179 M | 178 M | 142 M | 180 M | 125 M | 114 M | 74.5 M | 103 M | 38.8 M | 96.1 M | 246 M | 258 M | 272 M | 346 M | 231 M | 216 M | 216 M | 216 M | 216 M | 87.2 M | 87.2 M | 87.2 M | 87.2 M | 328 M | 328 M | 328 M | 328 M | 182 M | 182 M | 182 M | 182 M | 147 M | 147 M | 147 M | 147 M | 203 M | 203 M | 203 M | 203 M | 132 M | 132 M | 132 M | 132 M | 171 M | 171 M | 171 M | 171 M | 134 M | 134 M | 134 M | 134 M | 130 M | 130 M | 130 M | 130 M |
Book Value |
7.41 B | 7.35 B | 7.21 B | 7.17 B | 7.11 B | 6.96 B | 6.96 B | 6.98 B | 7.06 B | 7.12 B | 7.23 B | 7.41 B | 7.45 B | 7.34 B | 7.15 B | 7.13 B | 6.94 B | 6.99 B | 6.89 B | 6.89 B | 6.89 B | 6.89 B | 6.89 B | 6.66 B | 6.66 B | 6.66 B | 6.66 B | 6.31 B | 6.31 B | 6.31 B | 6.31 B | 5.47 B | 5.47 B | 5.47 B | 5.47 B | 5.01 B | 5.01 B | 5.01 B | 5.01 B | 4.78 B | 4.78 B | 4.78 B | 4.78 B | 4.39 B | 4.41 B | 4.41 B | 4.41 B | 4.23 B | 4.23 B | 4.23 B | 4.23 B | 4.25 B | 4.25 B | 4.25 B | 4.25 B | 4.28 B | 4.28 B | 4.28 B | 4.28 B |
Total Shareholders Equity |
2.76 B | 2.73 B | 2.68 B | 2.58 B | 2.47 B | 2.31 B | 2.23 B | 2.16 B | 2.14 B | 2.16 B | 2.23 B | 2.35 B | 2.4 B | 2.35 B | 2.29 B | 2.27 B | 2.26 B | 2.25 B | 2.18 B | 2.14 B | 2.14 B | 2.14 B | 2.14 B | 2.18 B | 2.18 B | 2.18 B | 2.18 B | 1.96 B | 1.96 B | 1.96 B | 1.96 B | 1.75 B | 1.75 B | 1.75 B | 1.75 B | 1.35 B | 1.35 B | 1.35 B | 1.35 B | 1.51 B | 1.51 B | 1.51 B | 1.51 B | 1.4 B | 1.4 B | 1.4 B | 1.4 B | 1.43 B | 1.43 B | 1.43 B | 1.43 B | 1.39 B | 1.39 B | 1.39 B | 1.39 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of SkyWest, 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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