Spirit Airlines Balance Sheet Health
Financial Health criteria checks 1/6
Spirit Airlines has a total shareholder equity of $503.7M and total debt of $3.2B, which brings its debt-to-equity ratio to 643.1%. Its total assets and total liabilities are $9.5B and $9.0B respectively.
Key information
643.1%
Debt to equity ratio
US$3.24b
Debt
| Interest coverage ratio | n/a |
| Cash | US$540.65m |
| Equity | US$503.75m |
| Total liabilities | US$8.99b |
| Total assets | US$9.49b |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: S64's short term assets ($1.2B) do not cover its short term liabilities ($2.5B).
Long Term Liabilities: S64's short term assets ($1.2B) do not cover its long term liabilities ($6.4B).
Debt to Equity History and Analysis
Debt Level: S64's net debt to equity ratio (535.8%) is considered high.
Reducing Debt: S64's debt to equity ratio has increased from 99.1% to 643.1% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: S64 has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: S64 has sufficient cash runway for 1.2 years if free cash flow continues to reduce at historical rates of 22.4% each year.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/26 07:05 |
| End of Day Share Price | 2024/11/18 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Spirit Airlines, Inc. is covered by 22 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Bob McAdoo | Avondale Partners |
| Garrett Chase | Barclays |
| Andrew Didora | BofA Global Research |