flyExclusive, Inc. (FLYX) vs Republic Airways Holdings Inc. (RJET)

flyExclusive, Inc. and Republic Airways Holdings Inc. are both Airlines companies. Republic Airways Holdings Inc. is the larger, with a market value of $876.5M against $126.6M — 6.9× the size. flyExclusive, Inc. has negative trailing earnings, so its P/E is not meaningful; Republic Airways Holdings Inc. trades at 12.3×. Republic Airways Holdings Inc. grew revenue faster over the last twelve months: 93.8% against 16.2%. Republic Airways Holdings Inc. has the higher net margin (3.53% vs −7.33%) and the higher return on invested capital (5.06% vs 0.00%). Across the 16 metrics below, Republic Airways Holdings Inc. leads on 9 and flyExclusive, Inc. on 7.

Valuation

Metric FLYX RJET Airlines median
P/E n/m 12.30 10.32
P/S 0.17 0.43 0.57
P/B n/m 0.62 2.06
Price to free cash flow 1.14 n/m 13.20
EV/EBITDA n/m 5.61 9.68
EV/Sales 0.42 0.82 0.89
Earnings yield (62.20%) 8.13% 2.85%
Free cash flow yield 87.83% (1.60%) 3.17%

Profitability

Metric FLYX RJET Airlines median
Gross margin 18.08% 78.58% 42.57%
Operating margin (8.79%) 8.81% 4.18%
Net margin (7.33%) 3.53% 1.85%
Free cash flow margin 14.88% (0.69%) 4.31%
Return on equity 12.58% 10.38% 10.75%
Return on assets (6.71%) 4.06% 1.67%
Return on invested capital 0.00% 5.06% 3.19%

Growth

Metric FLYX RJET Airlines median
Revenue growth (TTM) 16.15% 93.80% 9.79%
EPS growth (last fiscal year) 5.61% 15.21% —
Revenue growth, 5-year CAGR — 25.85% 25.83%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric FLYX RJET Airlines median
Debt to equity (0.53) 0.77 0.81
Current ratio 0.23 1.03 0.60
Net debt to EBITDA (4.50) 2.60 1.42

Dividend

Metric FLYX RJET Airlines median
Dividend yield — — 0.82%
Payout ratio 0.00 0.00 0.00

Size

Metric FLYX RJET Airlines median
Market cap 126.58m 876.46m 3.91b

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