JBLU
JETBLUE AIRWAYS CORP
Transportation • CIK: 0001158463
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Market Cap
$1.65B
P/E (TTM)
-2.7x
Rev Growth (TTM)
-2.3%
Net Margin (TTM)
-6.6%
FCF Yield (TTM)
-71.1%
FCF Margin (TTM)
-12.9%
Cash Flow Health
Free Cash Flow0/8 positive
TTM$-1.2B
Q4 '25
$-287M+30%
Q3 '25
$-411M+0%
FCF Margin
TTM-12.9%
Q4 '25-12.8%+28%
Sector: 4.3%Below Avg
OCF Margin-1.0%
OCF/NI0.16x
CapEx Coverage-0.1x
FCF Yield-71.1%
FCF Growth (2Y)–
Cash Conversion Cycle
14 days
DSO: 14+DIO: –−DPO: –
Capital Allocation & Returns
Total Shareholder Yield
TTM0.0%
Div Yield0.0%
Insufficient data
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$-1.2B
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
-2.4%
Moderate
+0.6% YoY+13.6%
P25MedianP75
25th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-3.2%
8Q: -2.2%
Asset Turnover
0.54x
8Q: 0.55x
Leverage (1+D/E)
4.65x
D/E: 3.65x
DuPont: -7.9% ≈ -2.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
0.83x
8Q:0.87x
-11.3%
Invested Cap Turn
0.77x
8Q:0.80x
-23.5%
CapEx Intensity
9.2%
8Q:10.9%
CapEx/Depreciation
1.57x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $9.1B | $2.2B↓3.4% | $2.3B↓1.4% | $2.4B↑10.1% | $2.1B↓6.0% | $2.3B↓3.7% | $2.4B↓2.6% | $2.4B↑9.9% | $2.2B |
Operating Income | $-368.0M | $-100.0M↓0.0% | $-100.0M↓1766.7% | $6.0M↑103.4% | $-174.0M↓1187.5% | $16.0M↑142.1% | $-38.0M↓166.7% | $57.0M↑107.9% | $-719.0M |
Net Income | $-602.0M | $-177.0M↓23.8% | $-143.0M↓93.2% | $-74.0M↑64.4% | $-208.0M↓372.7% | $-44.0M↑26.7% | $-60.0M↓340.0% | $25.0M↑103.5% | $-716.0M |
Operating Cash Flow | $-94.0M | $49.0M↑134.5% | $-142.0M↓23.5% | $-115.0M↓200.9% | $114.0M↑770.6% | $-17.0M↑41.4% | $-29.0M↓107.1% | $-14.0M↓106.9% | $204.0M |
Free Cash Flow | $-1.2B | $-287.0M↑30.2% | $-411.0M↑0.2% | $-412.0M↓564.5% | $-62.0M↑83.2% | $-368.0M↓21.9% | $-302.0M↑31.5% | $-441.0M↓97.8% | $-223.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-2.7x
Volatile
8Q: -11.0x-3560%
Valuation Lenses
Earnings
-2.7x
vs – sector
Cash Flow
-5.3x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: -2.4%
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$1.65B
EV$6.26B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-8/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Bottom 25%
-25.3%
8Q:–
Return on Invested Capital (ROIC)Below Avg
-2.4%
8Q:–
+13.6%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: -3.2%
Asset Turnover: 0.54x
Earnings Quality
Cash Conversion
0.16x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover0.77x
Working Capital
Cash Conversion Cycle14 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
48/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-2.3%
OpInc Growth YoY
-725.0%
EPS Growth YoY
28.3%
FCF 3Y CAGR
N/A
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
-4.1%
Below Avg in sector
Net
-6.6%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-6.3 pts
FCF: -12.9% | Net: -6.6%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $5.22B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
3.65x
Balance sheet risk & solvency analysis