Frontier Group
Runs an ultra low-cost airline built around low fares, paid options, and Airbus commonality.
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Profile
Operates Frontier Airlines as a single passenger air transportation segment, selling low base fares plus paid optional services, loyalty programs, memberships, and card-related revenue. Flying is concentrated in the U.S. with select near-international routes across the Americas.
Operates through Frontier Airlines, a Denver-based ultra low-cost carrier with a single reportable segment: passenger air transportation. The core product is low-fare flying, with revenue also shaped by optional services, FRONTIER Miles, Discount Den, GoWild! passes, an affinity credit card program, and commissions.
The network is concentrated in the United States and extends to select near-international destinations in Mexico, the Caribbean, and Central America. Execution centers on a low-cost structure, high-density seating, a young all-Airbus single-aisle fleet, and a brand built around low fares.
The model depends on aircraft commonality, Airbus-family and engine support, competitive pricing and schedules, route breadth, customer service, safety record, and labor agreements across union-represented groups.
Company facts
Categories
Key statistics
Year to date +27.8% · Average volume (30d) 3.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 7, 2026 | Susquehanna | Reiterate | Neutral | $4 | $7 | |
| Jun 23, 2026 | UBS | Reiterate | Neutral | $6 | $7 | |
| Mar 2, 2026 | Barclays | Downgrade | Overweight | Underweight | ||
| Feb 10, 2026 | Deutsche Bank | Target | $8 | $6 | ||
| Jan 6, 2026 | B of A Securities | Downgrade | Neutral | Underperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | −$0.47 | −$0.10 | +78.7% | $1.22B | $1.28B | +5.0% | +7.38% |
| May 5, 2026Q1 FY26 | −$0.37 | −$0.30 | +18.9% | $1.04B | $1.07B | +2.1% | +9.38% |
| Feb 11, 2026Q4 FY25 | $0.10 | $0.23 | +130.0% | $973.6M | $997.0M | +2.4% | −4.37% |
| Nov 5, 2025Q3 FY25 | $0.13 | −$0.34 | −366.2% | $971.4M | $886.0M | −8.8% | +1.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $912.0M | $929.0M | $886.0M | $997.0M | $992.0M | $1.28B | |
| Gross profit | $13.0M | $5.0M | −$29.0M | $25.0M | −$208.0M | −$6.0M | |
| Operating income | −$46.0M | −$75.0M | −$77.0M | $49.0M | −$283.0M | −$97.0M | |
| Net income | −$43.0M | −$70.0M | −$77.0M | $53.0M | −$272.0M | −$90.0M | |
| Diluted EPS | −$0.19 | −$0.31 | −$0.34 | $0.23 | −$1.18 | −$0.39 | |
| Gross margin | 1.4% | 0.5% | -3.3% | 2.5% | -21.0% | -0.5% | |
| Operating margin | -5.0% | -8.1% | -8.7% | 4.9% | -28.5% | -7.6% |
Fiscal years (4-quarter sums)FY21 $2.06B · FY22 $3.33B · FY23 $3.59B · FY24 $3.78B · FY25 $3.72B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $955.0M · Total debt $5.24B · Total assets $7.24B · Shareholders' equity $136.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 230.22M · Float 97.78M · 42.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| William A. Franke · director, 10 percent owner, other: Chair of the Board | 67.36M | 29.26% | Form 4 | May 18, 2026 |
| Indigo Partners LLC | 32.09M | 13.94% | 13F | Aug 14, 2026 |
| Wildcat Capital Management, LLC | 28.06M | 12.19% | 13F | Jul 22, 2026 |
| Group Holdings - Frontier LLC · 10 percent owner | 22.71M | 9.86% | Form 4 | Jul 13, 2026 |
| BlackRock, Inc. | 5.97M | 2.59% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Trevor J. Stedke | officer: Sr. Vice President, Operations | −167,277 | $8.03 |
| Aug 4, 2026 | Josh A. Wetzel | officer: VP & CAO | −2,000 | $8.00 |
| Aug 4, 2026 | Howard Diamond | officer: EVP, Legal & Corporate Affairs | −24,195 | $8.25 |
| Aug 5, 2026 | Mark Christopher Mitchell | officer: SVP & CFO | −125,000 | $8.09 |
| Aug 4, 2026 | Alexandre Clerc | officer: SVP, Customers | −3,068 | $8.17 |
Peers
- Southwest Airlines
Large low-cost carrier overlap in domestic leisure and fare-led routes
- Allegiant Travel
Leisure-focused ULCC peer now including Sun Country
- American Airlines Group
Network-carrier pressure across domestic, Caribbean, and loyalty markets
- United Airlines
Hub network carrier competing on routes, schedules, and Basic Economy
- Delta Air Lines
Premium network carrier with fare-matching and loyalty overlap
- JetBlue
Low-cost carrier overlap in leisure, East Coast, and fare competition
- Alaska Air Group
West Coast and Hawaii-focused network overlap after Hawaiian merger
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Frontier Group | $5.91 | +1.20% | $1.34B | — | 121.5 | 0.3 | +37.7% |
| Southwest Airlines | $39.88 | +0.62% | $19.39B | 24.3 | 9.5 | 0.6 | +16.4% |
| Allegiant Travel | $78.94 | 0.00% | $2.12B | 58.5 | 9.0 | 0.7 | +36.9% |
| American Airlines Group | $13.69 | +0.37% | $9.03B | — | 10.5 | 0.2 | +16.3% |
| United Airlines | $110.89 | +0.29% | $35.90B | 10.3 | 8.4 | 0.6 | +16.0% |
| Delta Air Lines | $80.10 | +0.05% | $52.66B | 13.3 | 9.8 | 0.8 | +18.7% |
| JetBlue | $4.88 | +1.56% | $1.81B | — | — | 0.2 | +14.5% |
| Alaska Air Group | $42.63 | +0.73% | $4.72B | — | 20.7 | 0.3 | +9.8% |
| Median | 18.8 | 9.6 | 0.6 | +16.3% |