stockrowRepublic Airways Holdings Inc.
RJET Industrials Airlines
- Revenue
- +44.7%
- EPS
- −1.89%
- Free cash flow
- +184.1%
- Total debt
- +839.4%
Quarter to June 2026, against a year earlier
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Republic Airways Holdings Inc. (RJET) Altman Z-score
Republic Airways Holdings Inc.'s Altman Z-score for fiscal 2025 is 1.20, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.20 | (0.05) |
| FY2024 | 1.25 | 1.36 |
| FY2024 | −0.11 | (0.10) |
| FY2023 | −0.01 | 0.08 |
| FY2022 | −0.09 | (0.89) |
| FY2021 | 0.80 | 0.16 |
| FY2020 | 0.64 | (0.37) |
| FY2019 | 1.01 | 0.11 |
| FY2018 | 0.90 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.01) | — | −0.01 | |
| Retained earnings / total assets | 0.22 | — | 0.30 | |
| EBIT / total assets | 0.05 | — | 0.17 | |
| Market value of equity / total liabilities | 0.38 | — | 0.23 | |
| Sales / total assets | 0.51 | — | 0.51 | |
| Altman Z-score | Distress zone | 1.20 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.70 | ||
Z and Z″ put Republic Airways Holdings Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| SKYW SkyWest, Inc. compare | 1.8× |
| ALGT Allegiant Travel Company compare | 1.2× |
| RJET Republic Airways Holdings Inc. | 1.2× |
| ALK Alaska Air Group, Inc. compare | 1.1× |
| AERO Grupo Aeromexico SAB DE CV - Sponsored ADR compare | 0.8× |
| JBLU JetBlue Airways Corporation compare | 0.5× |
| ULCC Frontier Group Holdings, Inc. compare | 0.4× |
| VLRS Controladora Vuela Compania de Aviacion, S.A.B. de C.V. compare | 0.3× |
| AZUL Azul S.A. - Sponsored ADR compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets