JetBlue Airways (JBLU) Financials

$5.11 -0.02 (-0.39%)

Closing price 05/8/2026 04:00 PM Eastern

Extended Trading

$5.11 0.00 (-0.08%)

As of 05/8/2026 07:59 PM Eastern

Annual Income Statements for JetBlue Airways

This table shows JetBlue Airways' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	677	727	1,140	189	569	-1,354	-182	-362	-310	-795	-602
Consolidated Net Income / (Loss)	677	727	1,140	189	569	-1,354	-182	-362	-310	-795	-602
Net Income / (Loss) Continuing Operations	677	727	1,140	189	569	-1,354	-182	-362	-310	-795	-602
Total Pre-Tax Income	1,097	1,164	918	219	768	-1,893	-263	-437	-334	-897	-774
Total Operating Income	1,216	1,260	973	266	800	-1,714	-80	-298	-230	-684	-368
Total Gross Profit	2,574	2,782	2,600	2,524	2,735	-590	890	1,972	2,316	2,294	2,029
Total Revenue	6,416	6,584	7,012	7,658	8,094	2,957	6,037	9,158	9,615	9,279	9,062
Operating Revenue	5,893	6,584	7,012	7,658	8,094	2,957	6,037	9,158	9,615	9,279	9,062
Total Cost of Revenue	3,842	3,802	4,412	5,134	5,359	3,547	5,147	7,186	7,299	6,985	7,033
Operating Cost of Revenue	3,842	3,802	4,412	5,134	5,359	3,547	5,147	7,186	7,299	6,985	7,033
Total Operating Expenses	1,358	1,522	1,627	2,258	1,935	1,124	970	2,270	2,546	2,978	2,397
Selling, General & Admin Expense	749	866	932	1,060	1,106	762	1,080	1,283	1,412	1,404	1,374
Marketing Expense	264	263	271	294	290	110	183	289	316	328	305
Depreciation Expense	345	393	424	469	525	535	540	585	621	655	688
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	-	-	30
Total Other Income / (Expense), net	-119	-96	-55	-47	-32	-179	-183	-139	-104	-213	-406
Interest Expense	120	103	61	60	47	156	175	148	191	328	579
Interest & Investment Income	1.00	7.00	6.00	13	-	0.00	47	12	79	84	145
Other Income / (Expense), net	-	-	0.00	0.00	15	-23	-55	-3.00	8.00	31	28
Income Tax Expense	420	437	-222	30	199	-539	-81	-75	-24	-102	-172
Basic Earnings per Share	$2.15	$2.23	$3.47	$0.60	$1.92	($4.88)	($0.57)	($1.12)	($0.93)	($2.30)	($1.66)
Weighted Average Basic Shares Outstanding	315.10M	326.50M	328.70M	312.90M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M
Diluted Earnings per Share	$1.98	$2.13	$3.45	$0.60	$1.91	($4.88)	($0.57)	($1.12)	($0.93)	($2.30)	($1.66)
Weighted Average Diluted Shares Outstanding	315.10M	326.50M	328.70M	312.90M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M
Weighted Average Basic & Diluted Shares Outstanding	315.10M	326.50M	328.70M	312.90M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M

This table shows JetBlue Airways' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-153	-103	-716	25	-60	-44	-208	-74	-143	-177	-319
Consolidated Net Income / (Loss)	-153	-103	-716	25	-60	-44	-208	-74	-143	-177	-319
Net Income / (Loss) Continuing Operations	-153	-103	-716	25	-60	-44	-208	-74	-143	-177	-319
Total Pre-Tax Income	-174	-110	-767	31	-78	-83	-271	-94	-196	-213	-336
Total Operating Income	-156	-67	-719	57	-38	16	-174	6.00	-100	-100	-224
Total Gross Profit	485	547	437	666	597	594	397	611	508	513	393
Total Revenue	2,353	2,324	2,209	2,428	2,365	2,277	2,140	2,356	2,322	2,244	2,240
Operating Revenue	2,353	2,324	2,209	2,428	2,365	2,277	2,140	2,356	2,322	2,244	2,240
Total Cost of Revenue	1,868	1,777	1,772	1,762	1,768	1,683	1,743	1,745	1,814	1,731	1,847
Operating Cost of Revenue	1,868	1,777	1,772	1,762	1,768	1,683	1,743	1,745	1,814	1,731	1,847
Total Operating Expenses	641	614	1,156	609	635	578	571	605	608	613	617
Selling, General & Admin Expense	373	348	359	358	362	325	333	334	352	355	366
Marketing Expense	80	78	77	87	81	83	70	76	78	81	72
Depreciation Expense	155	160	158	163	165	169	168	171	173	176	179
Total Other Income / (Expense), net	-18	-43	-48	-26	-40	-99	-97	-100	-96	-113	-112
Interest Expense	48	60	49	59	75	145	145	144	144	146	143
Interest & Investment Income	19	23	-3.00	16	28	43	39	36	38	32	26
Other Income / (Expense), net	11	-6.00	4.00	17	7.00	3.00	9.00	8.00	10	1.00	5.00
Income Tax Expense	-21	-7.00	-51	6.00	-18	-39	-63	-20	-53	-36	-17
Basic Earnings per Share	($0.46)	($0.30)	($2.11)	$0.07	($0.17)	($0.09)	($0.59)	($0.21)	($0.39)	($0.47)	($0.86)
Weighted Average Basic Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M
Diluted Earnings per Share	($0.46)	($0.30)	($2.11)	$0.07	($0.17)	($0.09)	($0.59)	($0.21)	($0.39)	($0.47)	($0.86)
Weighted Average Diluted Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M
Weighted Average Basic & Diluted Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M

This table details how cash moves in and out of JetBlue Airways' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-23	114	-136	174	485	951	108	-889	129	831	147
Net Cash From Operating Activities	1,598	1,632	1,379	1,200	1,449	-683	1,642	379	400	144	-94
Net Cash From Continuing Operating Activities	1,598	1,632	1,379	1,200	1,449	-683	1,642	379	400	144	-94
Net Income / (Loss) Continuing Operations	677	727	1,140	189	569	-1,354	-182	-362	-310	-795	-602
Consolidated Net Income / (Loss)	677	727	1,140	189	569	-1,354	-182	-362	-310	-795	-602
Depreciation Expense	288	337	383	469	525	535	540	585	621	655	688
Non-Cash Adjustments To Reconcile Net Income	20	23	29	347	10	418	29	94	39	471	-61
Changes in Operating Assets and Liabilities, net	556	489	-214	195	345	-282	1,255	62	50	-187	-119
Net Cash From Investing Activities	-1,134	-1,046	-979	-1,157	-1,129	-1,349	-704	-908	-1,378	-3,080	658
Net Cash From Continuing Investing Activities	-1,134	-1,046	-979	-1,157	-1,129	-1,349	-704	-908	-1,378	-3,080	658
Purchase of Property, Plant & Equipment	-941	-1,011	-1,202	-1,114	-1,156	-791	-995	-923	-1,206	-1,619	-1,122
Acquisitions	-	-	-	-	-	0.00	0.00	-297	-131	-22	0.00
Purchase of Investments	-742	-873	-452	-1,408	-1,374	-1,962	-1,614	-615	-543	-2,530	-622
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	0.00	12	30	279
Sale and/or Maturity of Investments	555	850	688	1,380	1,414	1,195	1,910	936	501	1,069	2,125
Other Investing Activities, net	-6.00	-12	-13	-15	-13	209	-5.00	-9.00	-11	-8.00	-2.00
Net Cash From Financing Activities	-487	-472	-536	131	165	2,983	-830	-360	1,107	3,767	-417
Net Cash From Continuing Financing Activities	-487	-472	-536	131	165	2,983	-830	-360	1,107	3,767	-417
Repayment of Debt	-330	-383	-194	-222	-325	-1,373	-1,892	-406	-351	-748	-461
Issuance of Debt	-	0.00	0.00	687	981	3,522	1,010	0.00	78	3,793	0.00
Issuance of Common Equity	84	45	48	48	51	647	60	52	53	60	52
Other Financing Activities, net	-241	-134	-390	-382	-542	187	-8.00	-6.00	1,327	662	-8.00
Cash Interest Paid	-	-	60	59	62	139	180	124	80	230	427
Cash Income Taxes Paid	-	-	139	11	-52	5.00	-3.00	45	-49	2.00	-2.00

This table details how cash moves in and out of JetBlue Airways' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-488	195	76	53	1,355	-653	385	-163	279	-354	-89
Net Cash From Operating Activities	-177	-86	204	-14	-29	-17	114	-115	-142	49	120
Net Cash From Continuing Operating Activities	-177	-86	204	-14	-29	-17	114	-115	-142	49	120
Net Income / (Loss) Continuing Operations	-153	-103	-716	25	-60	-44	-208	-74	-143	-177	-319
Consolidated Net Income / (Loss)	-153	-103	-716	25	-60	-44	-208	-74	-143	-177	-319
Depreciation Expense	156	159	158	164	165	168	168	171	173	176	179
Non-Cash Adjustments To Reconcile Net Income	9.00	8.00	462	9.00	-13	13	-11	-16	-15	-19	-7.00
Changes in Operating Assets and Liabilities, net	-189	-150	300	-212	-121	-154	165	-196	-157	69	267
Net Cash From Investing Activities	-552	-451	-399	-269	-1,497	-915	357	72	532	-303	-92
Net Cash From Continuing Investing Activities	-552	-451	-399	-269	-1,497	-915	357	72	532	-303	-92
Purchase of Property, Plant & Equipment	-316	-433	-466	-451	-285	-417	-187	-309	-281	-345	-141
Purchase of Investments	-307	-44	-1.00	-	-1,809	-720	-50	-300	-70	-202	-36
Sale of Property, Plant & Equipment	-	12	0.00	-	-	22	44	77	69	89	40
Sale and/or Maturity of Investments	106	55	94	184	590	201	550	604	815	156	45
Net Cash From Financing Activities	241	732	271	336	2,881	279	-86	-120	-111	-100	-117
Net Cash From Continuing Financing Activities	241	732	271	336	2,881	279	-86	-120	-111	-100	-117
Repayment of Debt	-54	-97	-58	-112	-461	-117	-81	-147	-111	-122	-112
Other Financing Activities, net	295	807	329	136	137	60	-5.00	-3.00	-	-	-5.00
Cash Interest Paid	7.00	41	24	60	1.00	145	97	149	60	121	115
Cash Income Taxes Paid	-102	99	-6.00	2.00	-2.00	4.00	2.00	-2.00	-2.00	-	6.00

This table presents JetBlue Airways' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	8,644	9,323	9,781	10,959	11,918	13,406	13,642	13,045	13,853	16,841	16,570
Total Current Assets	1,373	1,403	1,206	1,388	1,786	3,345	3,245	1,916	2,160	4,258	3,238
Cash & Equivalents	318	433	303	474	959	1,918	2,018	1,042	1,166	1,921	1,946
Restricted Cash	-	-	-	-	-	-	-	-	-	0.00	100
Short-Term Investments	558	538	390	413	369	1,135	824	350	401	1,689	213
Accounts Receivable	136	172	245	211	231	98	207	317	336	348	372
Inventories, net	44	47	55	78	81	71	74	87	109	158	193
Prepaid Expenses	172	213	213	212	146	123	122	120	148	142	414
Plant, Property, & Equipment, net	6,652	7,271	8,049	7,983	8,614	8,399	8,814	9,147	9,675	10,656	11,191
Plant, Property & Equipment, gross	8,679	9,624	10,786	10,892	11,910	11,878	12,703	13,456	14,499	15,760	16,511
Accumulated Depreciation	2,027	2,353	2,737	2,909	3,296	3,479	3,889	4,309	4,824	5,104	5,320
Total Noncurrent Assets	619	649	526	1,588	1,518	1,662	1,583	1,982	2,018	1,927	2,141
Long-Term Investments	49	90	2.00	3.00	3.00	2.00	39	172	163	336	318
Intangible Assets	-	-	-	-	241	261	299	298	349	399	415
Other Noncurrent Operating Assets	507	497	468	1,526	1,215	1,348	1,186	1,366	1,355	965	1,159
Other Noncurrent Nonoperating Assets	63	62	56	59	59	51	59	146	151	227	249
Total Liabilities & Shareholders' Equity	8,644	9,323	9,781	10,959	11,918	13,406	13,642	13,045	13,853	16,841	16,570
Total Liabilities	5,434	5,310	5,049	6,274	7,119	9,455	9,793	9,482	10,516	14,200	14,450
Total Current Liabilities	2,275	2,214	2,146	2,525	2,663	2,674	3,417	3,748	3,628	3,881	4,402
Short-Term Debt	448	189	196	309	344	450	355	554	307	392	769
Accounts Payable	205	242	378	437	401	365	499	532	641	619	655
Accrued Expenses	267	321	293	298	295	215	359	486	509	542	550
Current Deferred Revenue	1,053	1,120	966	1,035	1,119	1,122	1,618	1,581	1,463	1,572	1,669
Current Employee Benefit Liabilities	302	342	313	313	376	409	480	498	591	663	680
Other Current Liabilities	-	-	-	133	128	113	106	97	117	93	79
Total Noncurrent Liabilities	3,159	3,096	2,903	3,749	4,456	6,781	6,376	5,734	6,888	10,319	10,048
Long-Term Debt	1,379	1,195	1,003	1,361	1,990	4,413	3,651	3,093	4,409	8,147	7,729
Noncurrent Deferred Revenue	-	-	-	-	481	616	640	738	740	653	704
Noncurrent Deferred & Payable Income Tax Liabilities	1,218	1,354	999	1,112	1,251	922	843	770	743	633	447
Other Noncurrent Operating Liabilities	562	547	901	1,276	734	830	1,242	1,133	996	886	1,168
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,210	4,013	4,732	4,685	4,799	3,951	3,849	3,563	3,337	2,641	2,120
Total Preferred & Common Equity	3,210	4,013	4,732	4,685	4,799	3,951	3,849	3,563	3,337	2,641	2,120
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,210	4,013	4,732	4,685	4,799	3,951	3,849	3,563	3,337	2,641	2,120
Common Stock	1,900	2,054	2,131	2,207	2,257	2,964	3,052	3,134	3,226	3,325	3,417
Retained Earnings	1,679	2,446	3,491	3,753	4,322	2,968	2,786	2,424	2,114	1,319	717
Treasury Stock	-366	-500	-890	-1,272	-1,782	-1,981	-1,989	-1,995	-1,999	-2,005	-2,013
Accumulated Other Comprehensive Income / (Loss)	-3.00	13	0.00	-3.00	2.00	0.00	0.00	0.00	-4.00	2.00	-1.00

This table presents JetBlue Airways' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	13,330	13,227	13,481	13,412	13,721	13,993	16,627	17,101	16,903	16,601	16,611
Total Current Assets	2,611	2,098	2,230	1,970	2,164	2,084	4,555	4,191	3,807	3,415	3,368
Cash & Equivalents	1,401	1,333	1,462	973	1,237	1,312	2,594	2,297	2,135	2,410	1,857
Restricted Cash	-	-	-	-	-	-	-	-	-	-	101
Short-Term Investments	692	204	205	409	326	184	1,414	1,205	929	211	312
Accounts Receivable	298	331	309	329	362	336	282	361	359	348	399
Inventories, net	79	76	89	97	111	130	140	163	174	183	282
Prepaid Expenses	141	154	165	162	128	122	125	165	210	263	417
Plant, Property, & Equipment, net	9,037	9,158	9,292	9,439	9,944	10,296	10,396	10,672	10,853	10,970	11,229
Plant, Property & Equipment, gross	13,280	13,596	13,857	14,134	14,739	15,200	15,419	15,874	16,126	16,152	16,684
Accumulated Depreciation	4,243	4,438	4,565	4,695	4,795	4,904	5,023	5,202	5,273	5,182	5,455
Total Noncurrent Assets	1,682	1,971	1,959	2,003	1,613	1,613	1,676	2,238	2,243	2,216	2,014
Long-Term Investments	175	153	169	166	145	104	94	322	298	272	210
Intangible Assets	258	310	333	346	383	388	394	399	407	413	333
Other Noncurrent Operating Assets	1,166	1,362	1,309	1,342	929	987	981	1,281	1,303	1,292	1,223
Other Noncurrent Nonoperating Assets	83	146	148	149	156	134	207	236	235	239	248
Total Liabilities & Shareholders' Equity	13,330	13,227	13,481	13,412	13,721	13,993	16,627	17,101	16,903	16,601	16,611
Total Liabilities	9,823	9,854	9,927	9,992	11,088	11,296	13,983	14,656	14,495	14,331	14,801
Total Current Liabilities	3,903	4,010	3,890	3,723	4,022	3,894	3,755	4,140	4,319	4,186	4,815
Short-Term Debt	524	263	271	272	330	354	363	384	711	703	734
Accounts Payable	600	626	699	691	647	660	612	648	633	589	728
Accrued Expenses	421	554	526	479	613	577	528	585	577	499	625
Current Deferred Revenue	1,745	1,926	1,751	1,592	1,723	1,614	1,503	1,773	1,682	1,652	1,996
Current Employee Benefit Liabilities	510	543	530	574	597	586	650	648	632	663	656
Other Current Liabilities	103	98	113	115	112	103	99	102	84	80	76
Total Noncurrent Liabilities	5,920	5,844	6,037	6,269	7,066	7,402	10,228	10,516	10,176	10,145	9,986
Long-Term Debt	3,235	3,316	3,486	3,729	4,682	5,016	7,868	8,090	7,740	7,772	7,701
Noncurrent Deferred Revenue	702	731	726	766	743	740	760	654	657	679	719
Noncurrent Deferred & Payable Income Tax Liabilities	790	692	774	750	689	694	674	566	544	486	427
Other Noncurrent Operating Liabilities	1,193	1,105	1,051	1,024	952	952	926	1,206	1,235	1,208	1,139
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,507	3,373	3,554	3,420	2,633	2,697	2,644	2,445	2,408	2,270	1,810
Total Preferred & Common Equity	3,507	3,373	3,554	3,420	2,633	2,697	2,644	2,445	2,408	2,270	1,810
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,507	3,373	3,554	3,420	2,633	2,697	2,644	2,445	2,408	2,270	1,810
Common Stock	3,107	3,144	3,188	3,197	3,238	3,279	3,288	3,337	3,377	3,387	3,430
Retained Earnings	2,400	2,232	2,370	2,217	1,398	1,423	1,363	1,111	1,037	894	398
Treasury Stock	-1,995	-1,998	-1,998	-1,998	-2,002	-2,004	-2,004	-2,010	-2,013	-2,013	-2,018
Accumulated Other Comprehensive Income / (Loss)	-5.00	-5.00	-6.00	4.00	-1.00	-1.00	-3.00	7.00	7.00	2.00	0.00

This table displays calculated financial ratios and metrics derived from JetBlue Airways' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.30%	2.62%	6.50%	9.21%	5.69%	-63.47%	104.16%	51.70%	4.99%	-3.49%	-2.34%
EBITDA Growth	44.40%	5.89%	-15.49%	-47.39%	82.31%	-189.70%	133.69%	-29.88%	40.49%	-99.50%	17,300.00%
EBIT Growth	60.85%	3.62%	-22.78%	-72.66%	206.39%	-313.13%	92.23%	-122.96%	26.25%	-194.14%	47.93%
NOPAT Growth	126.39%	4.87%	53.54%	-81.00%	158.19%	-302.43%	95.33%	-272.50%	22.82%	-197.39%	46.20%
Net Income Growth	68.83%	7.39%	56.81%	-83.42%	201.06%	-337.96%	86.56%	-98.90%	14.36%	-156.45%	24.28%
EPS Growth	66.39%	7.58%	61.97%	-82.61%	218.33%	-355.50%	88.32%	-96.49%	16.96%	-147.31%	27.83%
Operating Cash Flow Growth	75.22%	2.13%	-15.50%	-12.98%	20.75%	-147.14%	340.41%	-76.92%	5.54%	-64.00%	-165.28%
Free Cash Flow Firm Growth	98.58%	-11.42%	-46.21%	-98.82%	7,079.50%	-555.52%	163.27%	-207.68%	-4.96%	-57.72%	20.64%
Invested Capital Growth	2.95%	5.56%	21.20%	4.36%	6.23%	-0.61%	-13.89%	11.90%	12.22%	13.53%	11.20%
Revenue Q/Q Growth	2.36%	-0.02%	2.41%	2.82%	0.80%	-31.66%	3.87%	20.03%	-0.94%	-0.50%	-0.36%
EBITDA Q/Q Growth	12.14%	-4.34%	-5.54%	11.03%	3.47%	-148.86%	371.81%	-13.94%	-26.65%	102.02%	-24.02%
EBIT Q/Q Growth	15.26%	-6.39%	-7.07%	20.36%	3.43%	-68.15%	80.00%	-24.90%	-107.48%	12.35%	-53.15%
NOPAT Q/Q Growth	15.54%	-6.32%	82.57%	-70.75%	-2.66%	-65.92%	88.15%	-49.00%	-91.67%	10.82%	-46.03%
Net Income Q/Q Growth	17.74%	-6.44%	86.89%	-72.57%	-1.56%	-65.12%	73.16%	-37.64%	-69.40%	6.91%	-28.36%
EPS Q/Q Growth	17.86%	-6.58%	89.56%	-71.29%	0.00%	-60.53%	74.67%	-40.00%	-66.07%	8.37%	-29.69%
Operating Cash Flow Q/Q Growth	7.83%	0.68%	-0.14%	-2.99%	-1.70%	-2,539.29%	26.80%	82.21%	-26.47%	92.00%	41.25%
Free Cash Flow Firm Q/Q Growth	-11.33%	-11.65%	202.80%	-98.89%	0.31%	-34.49%	-91.33%	90.71%	6.72%	4.72%	14.78%
Invested Capital Q/Q Growth	7.86%	7.98%	14.60%	8.45%	7.57%	4.12%	240.75%	11.90%	7.83%	6.72%	2.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.12%	42.25%	37.08%	32.96%	33.79%	-19.95%	14.74%	21.53%	24.09%	24.72%	22.39%
EBITDA Margin	24.33%	25.11%	19.92%	9.60%	16.56%	-40.65%	6.71%	3.10%	4.15%	0.02%	3.84%
Operating Margin	18.95%	19.14%	13.88%	3.47%	9.88%	-57.96%	-1.33%	-3.25%	-2.39%	-7.37%	-4.06%
EBIT Margin	18.95%	19.14%	13.88%	3.47%	10.07%	-58.74%	-2.24%	-3.29%	-2.31%	-7.04%	-3.75%
Profit (Net Income) Margin	10.55%	11.04%	16.26%	2.47%	7.03%	-45.79%	-3.01%	-3.95%	-3.22%	-8.57%	-6.64%
Tax Burden Percent	61.71%	62.46%	124.18%	86.30%	74.09%	71.53%	69.20%	82.84%	92.81%	88.63%	77.78%
Interest Burden Percent	90.21%	92.38%	94.35%	82.33%	94.23%	108.98%	194.81%	145.18%	150.45%	137.37%	227.65%
Effective Tax Rate	38.29%	37.54%	-24.18%	13.70%	25.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	18.80%	18.91%	25.56%	4.34%	10.63%	-20.96%	-1.05%	-4.01%	-2.76%	-7.27%	-3.48%
ROIC Less NNEP Spread (ROIC-NNEP)	12.26%	8.01%	6.29%	-2.60%	7.78%	-32.37%	-9.98%	-14.22%	-9.00%	-16.05%	-10.34%
Return on Net Nonoperating Assets (RNNOA)	4.79%	1.22%	0.51%	-0.32%	1.37%	-9.99%	-3.61%	-5.76%	-6.23%	-19.33%	-21.81%
Return on Equity (ROE)	23.59%	20.13%	26.07%	4.01%	12.00%	-30.95%	-4.67%	-9.77%	-8.99%	-26.60%	-25.29%
Cash Return on Invested Capital (CROIC)	15.90%	13.50%	6.40%	0.07%	4.59%	-20.34%	13.88%	-15.24%	-14.27%	-19.94%	-14.09%
Operating Return on Assets (OROA)	14.75%	14.03%	10.19%	2.57%	7.13%	-13.72%	-1.00%	-2.26%	-1.65%	-4.25%	-2.04%
Return on Assets (ROA)	8.21%	8.09%	11.93%	1.82%	4.97%	-10.69%	-1.35%	-2.71%	-2.31%	-5.18%	-3.60%
Return on Common Equity (ROCE)	23.59%	20.13%	26.07%	4.01%	12.00%	-30.95%	-4.67%	-9.77%	-8.99%	-26.60%	-25.29%
Return on Equity Simple (ROE_SIMPLE)	21.09%	18.12%	24.09%	4.03%	11.86%	-34.27%	-4.73%	-10.16%	-9.29%	-30.10%	0.00%
Net Operating Profit after Tax (NOPAT)	750	787	1,208	230	593	-1,200	-56	-209	-161	-479	-258
NOPAT Margin	11.70%	11.95%	17.23%	3.00%	7.32%	-40.57%	-0.93%	-2.28%	-1.67%	-5.16%	-2.84%
Net Nonoperating Expense Percent (NNEP)	6.55%	10.90%	19.27%	6.94%	2.85%	11.42%	8.93%	10.22%	6.24%	8.78%	6.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-2.89%	-2.00%	-4.28%	-2.43%
Cost of Revenue to Revenue	59.88%	57.75%	62.92%	67.04%	66.21%	119.95%	85.26%	78.47%	75.91%	75.28%	77.61%
SG&A Expenses to Revenue	11.67%	13.15%	13.29%	13.84%	13.66%	25.77%	17.89%	14.01%	14.69%	15.13%	15.16%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.17%	23.12%	23.20%	29.49%	23.91%	38.01%	16.07%	24.79%	26.48%	32.09%	26.45%
Earnings before Interest and Taxes (EBIT)	1,216	1,260	973	266	815	-1,737	-135	-301	-222	-653	-340
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,561	1,653	1,397	735	1,340	-1,202	405	284	399	2.00	348
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.22	1.81	1.51	1.04	1.13	1.00	1.18	0.59	0.55	1.03	0.78
Price to Tangible Book Value (P/TBV)	2.22	1.81	1.51	1.04	1.19	1.07	1.28	0.64	0.62	1.22	0.97
Price to Revenue (P/Rev)	1.11	1.10	1.02	0.64	0.67	1.34	0.75	0.23	0.19	0.29	0.18
Price to Earnings (P/E)	10.54	9.98	6.28	25.90	9.50	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.49%	10.02%	15.91%	3.86%	10.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.99	1.77	1.48	1.05	1.12	1.01	1.15	0.76	0.78	1.04	0.97
Enterprise Value to Revenue (EV/Rev)	1.25	1.15	1.09	0.74	0.79	1.95	0.94	0.46	0.50	0.79	0.84
Enterprise Value to EBITDA (EV/EBITDA)	5.15	4.59	5.49	7.72	4.78	0.00	13.96	14.72	12.12	3,659.73	21.77
Enterprise Value to EBIT (EV/EBIT)	6.61	6.02	7.88	21.33	7.86	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.71	9.63	6.35	24.72	10.81	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.03	4.65	5.56	4.73	4.42	0.00	3.44	11.03	12.09	50.83	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	12.67	13.49	25.36	1,593.33	25.06	0.00	7.67	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.34	0.25	0.36	0.49	1.23	1.04	1.02	1.41	3.23	4.01
Long-Term Debt to Equity	0.43	0.30	0.21	0.29	0.41	1.12	0.95	0.87	1.32	3.08	3.65
Financial Leverage	0.39	0.15	0.08	0.12	0.18	0.31	0.36	0.41	0.69	1.20	2.11
Leverage Ratio	2.87	2.49	2.18	2.20	2.41	2.89	3.47	3.60	3.90	5.13	7.02
Compound Leverage Factor	2.59	2.30	2.06	1.81	2.27	3.15	6.76	5.23	5.87	7.05	15.98
Debt to Total Capital	36.27%	25.64%	20.22%	26.28%	32.72%	55.17%	51.00%	50.58%	58.56%	76.38%	80.03%
Short-Term Debt to Total Capital	8.89%	3.50%	3.30%	4.86%	4.82%	5.11%	4.52%	7.68%	3.81%	3.51%	7.24%
Long-Term Debt to Total Capital	27.38%	22.14%	16.91%	21.42%	27.90%	50.07%	46.48%	42.90%	54.75%	72.87%	72.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.73%	74.36%	79.78%	73.72%	67.28%	44.83%	49.00%	49.42%	41.44%	23.62%	19.97%
Debt to EBITDA	1.17	0.84	0.86	2.27	1.74	-4.05	9.89	12.84	11.82	4,269.50	24.42
Net Debt to EBITDA	0.58	0.20	0.36	1.06	0.75	-1.50	2.78	7.33	7.48	2,296.50	17.01
Long-Term Debt to EBITDA	0.88	0.72	0.72	1.85	1.49	-3.67	9.01	10.89	11.05	4,073.50	22.21
Debt to NOPAT	2.43	1.76	0.99	7.27	3.94	-4.05	-71.54	-17.48	-29.29	-17.83	-32.99
Net Debt to NOPAT	1.20	0.41	0.42	3.40	1.69	-1.51	-20.09	-9.99	-18.55	-9.59	-22.99
Long-Term Debt to NOPAT	1.84	1.52	0.83	5.93	3.36	-3.68	-65.20	-14.83	-27.39	-17.02	-30.00
Altman Z-Score	2.14	2.24	2.28	1.60	1.78	0.41	0.96	0.85	0.83	0.67	0.52
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.60	0.63	0.56	0.55	0.67	1.25	0.95	0.51	0.60	1.10	0.74
Quick Ratio	0.44	0.52	0.44	0.43	0.59	1.18	0.89	0.46	0.52	1.02	0.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	634	562	302	3.56	256	-1,165	737	-794	-833	-1,314	-1,043
Operating Cash Flow to CapEx	169.82%	161.42%	114.73%	107.72%	125.35%	-86.35%	165.03%	41.06%	33.50%	9.06%	-11.15%
Free Cash Flow to Firm to Interest Expense	5.29	5.46	4.96	0.06	5.44	-7.47	4.21	-5.36	-4.36	-4.01	-1.80
Operating Cash Flow to Interest Expense	13.32	15.84	22.61	20.00	30.83	-4.38	9.38	2.56	2.09	0.44	-0.16
Operating Cash Flow Less CapEx to Interest Expense	5.48	6.03	2.90	1.43	6.23	-9.45	3.70	-3.68	-4.16	-4.41	-1.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.73	0.73	0.74	0.71	0.23	0.45	0.69	0.71	0.60	0.54
Accounts Receivable Turnover	47.18	42.75	33.63	33.59	36.62	17.98	39.59	34.95	29.45	27.13	25.17
Inventory Turnover	85.38	83.56	86.51	77.20	67.41	46.67	70.99	89.27	74.48	52.32	40.07
Fixed Asset Turnover	1.01	0.95	0.92	0.96	0.98	0.35	0.70	1.02	1.02	0.91	0.83
Accounts Payable Turnover	18.61	17.01	14.23	12.60	12.79	9.26	11.91	13.94	12.45	11.09	11.04
Days Sales Outstanding (DSO)	7.74	8.54	10.85	10.87	9.97	20.31	9.22	10.44	12.39	13.45	14.50
Days Inventory Outstanding (DIO)	4.28	4.37	4.22	4.73	5.41	7.82	5.14	4.09	4.90	6.98	9.11
Days Payable Outstanding (DPO)	19.62	21.46	25.65	28.97	28.54	39.41	30.64	26.18	29.33	32.92	33.06
Cash Conversion Cycle (CCC)	-7.61	-8.55	-10.57	-13.38	-13.16	-11.29	-16.27	-11.65	-12.03	-12.49	-9.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,049	4,274	5,180	5,406	5,743	5,708	4,915	5,500	6,172	7,007	7,792
Invested Capital Turnover	1.61	1.58	1.48	1.45	1.45	0.52	1.14	1.76	1.65	1.41	1.22
Increase / (Decrease) in Invested Capital	116	225	906	226	337	-35	-793	585	672	835	785
Enterprise Value (EV)	8,038	7,581	7,667	5,675	6,407	5,770	5,654	4,182	4,836	7,319	7,576
Market Capitalization	7,136	7,258	7,163	4,895	5,404	3,962	4,529	2,099	1,850	2,726	1,655
Book Value per Share	$10.19	$12.40	$14.76	$15.37	$16.62	$14.50	$12.10	$11.00	$10.01	$7.61	$5.83
Tangible Book Value per Share	$10.19	$12.40	$14.76	$15.37	$15.79	$13.54	$11.16	$10.08	$8.97	$6.46	$4.69
Total Capital	5,037	5,397	5,931	6,355	7,133	8,814	7,855	7,210	8,053	11,180	10,618
Total Debt	1,827	1,384	1,199	1,670	2,334	4,863	4,006	3,647	4,716	8,539	8,498
Total Long-Term Debt	1,379	1,195	1,003	1,361	1,990	4,413	3,651	3,093	4,409	8,147	7,729
Net Debt	902	323	504	780	1,003	1,808	1,125	2,083	2,986	4,593	5,921
Capital Expenditures (CapEx)	941	1,011	1,202	1,114	1,156	791	995	923	1,194	1,589	843
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,330	-1,593	-1,437	-1,715	-1,861	-1,932	-2,659	-2,670	-2,728	-2,841	-2,654
Debt-free Net Working Capital (DFNWC)	-454	-622	-744	-828	-533	1,121	183	-1,278	-1,161	769	-395
Net Working Capital (NWC)	-902	-811	-940	-1,137	-877	671	-172	-1,832	-1,468	377	-1,164
Net Nonoperating Expense (NNE)	73	60	68	41	24	154	126	153	149	316	344
Net Nonoperating Obligations (NNO)	839	261	448	721	944	1,757	1,066	1,937	2,835	4,366	5,672
Total Depreciation and Amortization (D&A)	345	393	424	469	525	535	540	585	621	655	688
Debt-free, Cash-free Net Working Capital to Revenue	-20.73%	-24.20%	-20.49%	-22.39%	-22.99%	-65.34%	-44.05%	-29.15%	-28.37%	-30.62%	-29.29%
Debt-free Net Working Capital to Revenue	-7.08%	-9.45%	-10.61%	-10.81%	-6.59%	37.91%	3.03%	-13.96%	-12.07%	8.29%	-4.36%
Net Working Capital to Revenue	-14.06%	-12.32%	-13.41%	-14.85%	-10.84%	22.69%	-2.85%	-20.00%	-15.27%	4.06%	-12.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.15	$2.32	$3.49	$0.60	$1.92	($4.88)	($0.57)	($1.12)	($0.93)	($2.30)	($1.66)
Adjusted Weighted Average Basic Shares Outstanding	321.08M	337.04M	321.86M	306.53M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M
Adjusted Diluted Earnings per Share	$1.98	$2.22	$3.47	$0.60	$1.91	($4.88)	($0.57)	($1.12)	($0.93)	($2.30)	($1.66)
Adjusted Weighted Average Diluted Shares Outstanding	321.08M	337.04M	321.86M	306.53M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	321.08M	337.04M	321.86M	306.53M	282.20M	632.06M	320.19M	327.27M	339.28M	353.00M	370.12M
Normalized Net Operating Profit after Tax (NOPAT)	750	787	681	605	603	-1,398	-639	-130	-23	-65	-258
Normalized NOPAT Margin	11.70%	11.95%	9.71%	7.90%	7.45%	-47.27%	-10.59%	-1.41%	-0.24%	-0.70%	-2.84%
Pre Tax Income Margin	17.10%	17.68%	13.09%	2.86%	9.49%	-64.02%	-4.36%	-4.77%	-3.47%	-9.67%	-8.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.13	12.23	15.95	4.43	17.34	-11.13	-0.77	-2.03	-1.16	-1.99	-0.59
NOPAT to Interest Expense	6.25	7.64	19.81	3.83	12.61	-7.69	-0.32	-1.41	-0.84	-1.46	-0.44
EBIT Less CapEx to Interest Expense	2.29	2.42	-3.75	-14.13	-7.26	-16.21	-6.46	-8.27	-7.41	-6.84	-2.04
NOPAT Less CapEx to Interest Expense	-1.59	-2.18	0.10	-14.74	-11.98	-12.76	-6.01	-7.65	-7.09	-6.30	-1.90
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from JetBlue Airways' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	372,018,894.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	372,018,894.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.86
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.16%	-3.77%	-5.11%	-6.97%	0.51%	-2.02%	-3.12%	-2.97%	-1.82%	-1.45%	4.67%
EBITDA Growth	-96.14%	-62.77%	-525.84%	-39.13%	1,118.18%	117.44%	100.54%	-22.27%	-38.06%	-58.82%	-1,433.33%
EBIT Growth	-205.07%	-273.81%	-197.92%	-68.64%	78.62%	126.03%	76.92%	-81.08%	-190.32%	-621.05%	-32.73%
NOPAT Growth	-244.72%	-131.81%	-197.11%	-69.38%	75.64%	123.88%	75.80%	-90.86%	-163.16%	-725.00%	-28.74%
Net Income Growth	-368.42%	-529.17%	-272.92%	-81.88%	60.78%	57.28%	70.95%	-396.00%	-138.33%	-302.27%	-53.37%
EPS Growth	-355.56%	-528.57%	-263.79%	-82.93%	63.04%	70.00%	72.04%	-400.00%	-129.41%	-422.22%	-45.76%
Operating Cash Flow Growth	-904.55%	-248.28%	-49.63%	-105.43%	83.62%	80.23%	-44.12%	-721.43%	-389.66%	388.24%	5.26%
Free Cash Flow Firm Growth	88.98%	-64.29%	-32,552.78%	81.46%	5.40%	-14.59%	-2.70%	3.67%	-28.60%	-3.79%	32.09%
Invested Capital Growth	16.46%	12.22%	13.00%	18.88%	14.71%	13.53%	18.65%	14.67%	15.95%	11.20%	9.59%
Revenue Q/Q Growth	-9.85%	-1.23%	-4.95%	9.91%	-2.59%	-3.72%	-6.02%	10.09%	-1.44%	-3.36%	-0.18%
EBITDA Q/Q Growth	-97.19%	681.82%	-515.67%	142.73%	-43.70%	39.55%	-98.40%	6,066.67%	-55.14%	-7.23%	-151.95%
EBIT Q/Q Growth	-161.44%	49.66%	-879.45%	110.35%	-141.89%	161.29%	-968.42%	108.48%	-742.86%	-10.00%	-121.21%
NOPAT Q/Q Growth	-172.73%	57.05%	-973.13%	109.13%	-157.87%	142.11%	-1,187.50%	103.45%	-1,766.67%	0.00%	-124.00%
Net Income Q/Q Growth	-210.87%	32.68%	-595.15%	103.49%	-340.00%	26.67%	-372.73%	64.42%	-93.24%	-23.78%	-80.23%
EPS Q/Q Growth	-212.20%	34.78%	-603.33%	103.32%	-342.86%	47.06%	-555.56%	64.41%	-85.71%	-20.51%	-82.98%
Operating Cash Flow Q/Q Growth	-168.60%	51.41%	337.21%	-106.86%	-107.14%	41.38%	770.59%	-200.88%	-23.48%	134.51%	144.90%
Free Cash Flow Firm Q/Q Growth	82.26%	21.71%	-62.51%	17.83%	9.52%	5.16%	-45.64%	22.92%	-20.78%	23.46%	4.70%
Invested Capital Q/Q Growth	7.45%	7.83%	-6.34%	9.55%	3.68%	6.72%	-2.11%	5.88%	4.83%	2.35%	-3.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.61%	23.54%	19.78%	27.43%	25.24%	26.09%	18.55%	25.93%	21.88%	22.86%	17.54%
EBITDA Margin	0.47%	3.70%	-25.22%	9.80%	5.67%	8.21%	0.14%	7.85%	3.57%	3.43%	-1.79%
Operating Margin	-6.63%	-2.88%	-32.55%	2.35%	-1.61%	0.70%	-8.13%	0.25%	-4.31%	-4.46%	-10.00%
EBIT Margin	-6.16%	-3.14%	-32.37%	3.05%	-1.31%	0.83%	-7.71%	0.59%	-3.88%	-4.41%	-9.78%
Profit (Net Income) Margin	-6.50%	-4.43%	-32.41%	1.03%	-2.54%	-1.93%	-9.72%	-3.14%	-6.16%	-7.89%	-14.24%
Tax Burden Percent	87.93%	93.64%	93.35%	80.65%	76.92%	53.01%	76.75%	78.72%	72.96%	83.10%	94.94%
Interest Burden Percent	120.00%	150.68%	107.27%	41.89%	251.61%	-436.84%	164.24%	-671.43%	217.78%	215.15%	153.42%
Effective Tax Rate	0.00%	0.00%	0.00%	19.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-8.47%	-3.32%	-39.71%	3.02%	-1.71%	0.69%	-8.29%	0.24%	-3.87%	-3.82%	-8.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-10.83%	-5.68%	-48.41%	2.25%	-2.78%	-0.84%	-10.57%	-1.60%	-5.44%	-5.95%	-12.13%
Return on Net Nonoperating Assets (RNNOA)	-5.80%	-3.93%	-39.42%	1.95%	-2.85%	-1.01%	-15.75%	-2.67%	-10.26%	-12.55%	-28.85%
Return on Equity (ROE)	-14.27%	-7.25%	-79.13%	4.97%	-4.56%	-0.32%	-24.04%	-2.43%	-14.13%	-16.37%	-37.77%
Cash Return on Invested Capital (CROIC)	-16.79%	-14.27%	-21.29%	-27.88%	-22.44%	-19.94%	-18.60%	-15.62%	-17.26%	-14.09%	-13.22%
Operating Return on Assets (OROA)	-4.47%	-2.25%	-22.81%	2.07%	-0.81%	0.50%	-4.61%	0.35%	-2.12%	-2.39%	-5.31%
Return on Assets (ROA)	-4.72%	-3.17%	-22.84%	0.70%	-1.58%	-1.17%	-5.81%	-1.86%	-3.37%	-4.28%	-7.74%
Return on Common Equity (ROCE)	-14.27%	-7.25%	-79.13%	4.97%	-4.56%	-0.32%	-24.04%	-2.43%	-14.13%	-16.37%	-37.77%
Return on Equity Simple (ROE_SIMPLE)	-5.35%	0.00%	-31.67%	-35.11%	-32.30%	0.00%	-11.74%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-109	-47	-503	46	-27	11	-122	4.20	-70	-70	-157
NOPAT Margin	-4.64%	-2.02%	-22.78%	1.89%	-1.12%	0.49%	-5.69%	0.18%	-3.01%	-3.12%	-7.00%
Net Nonoperating Expense Percent (NNEP)	2.36%	2.35%	8.70%	0.78%	1.07%	1.53%	2.28%	1.84%	1.58%	2.13%	3.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.58%	-	-	-	0.10%	-1.12%	0.04%	-0.65%	-0.66%	-1.53%
Cost of Revenue to Revenue	79.39%	76.46%	80.22%	72.57%	74.76%	73.91%	81.45%	74.07%	78.12%	77.14%	82.46%
SG&A Expenses to Revenue	15.85%	14.97%	16.25%	14.74%	15.31%	14.27%	15.56%	14.18%	15.16%	15.82%	16.34%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.24%	26.42%	52.33%	25.08%	26.85%	25.38%	26.68%	25.68%	26.18%	27.32%	27.54%
Earnings before Interest and Taxes (EBIT)	-145	-73	-715	74	-31	19	-165	14	-90	-99	-219
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	11	86	-557	238	134	187	3.00	185	83	77	-40
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.45	0.55	0.94	0.77	0.86	1.03	0.70	0.62	0.79	0.78	0.90
Price to Tangible Book Value (P/TBV)	0.50	0.62	1.10	0.90	1.01	1.22	0.83	0.75	0.96	0.97	1.11
Price to Revenue (P/Rev)	0.16	0.19	0.26	0.22	0.24	0.29	0.18	0.16	0.20	0.18	0.18
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.70	0.78	1.00	0.92	0.98	1.04	0.93	0.91	0.97	0.97	1.01
Enterprise Value to Revenue (EV/Rev)	0.41	0.50	0.61	0.63	0.69	0.79	0.69	0.72	0.81	0.84	0.83
Enterprise Value to EBITDA (EV/EBITDA)	7.33	12.12	0.00	0.00	0.00	3,659.73	11.30	12.94	16.09	21.77	24.89
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	7.33	12.09	29.03	0.00	85.39	50.83	117.62	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.17	1.41	1.90	1.99	3.11	3.23	3.47	3.51	3.73	4.01	4.66
Long-Term Debt to Equity	1.09	1.32	1.78	1.86	2.98	3.08	3.31	3.21	3.42	3.65	4.25
Financial Leverage	0.54	0.69	0.81	0.87	1.03	1.20	1.49	1.66	1.89	2.11	2.38
Leverage Ratio	3.86	3.90	4.49	4.40	4.95	5.13	6.07	6.05	6.76	7.02	7.92
Compound Leverage Factor	4.63	5.87	4.81	1.84	12.46	-22.43	9.97	-40.64	14.73	15.10	12.16
Debt to Total Capital	53.91%	58.56%	65.56%	66.57%	75.69%	76.38%	77.61%	77.82%	78.87%	80.03%	82.33%
Short-Term Debt to Total Capital	3.67%	3.81%	4.32%	4.39%	3.34%	3.51%	3.52%	6.55%	6.54%	7.24%	7.16%
Long-Term Debt to Total Capital	50.25%	54.75%	61.24%	62.18%	72.35%	72.87%	74.09%	71.28%	72.33%	72.79%	75.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.09%	41.44%	34.44%	33.43%	24.31%	23.62%	22.39%	22.18%	21.13%	19.97%	17.67%
Debt to EBITDA	7.35	11.82	-72.64	-24.19	-83.14	4,269.50	15.08	16.60	18.50	24.42	27.66
Net Debt to EBITDA	4.51	7.48	-47.88	-16.98	-41.71	2,296.50	8.27	10.00	12.19	17.01	19.52
Long-Term Debt to EBITDA	6.85	11.05	-67.86	-22.59	-79.47	4,073.50	14.40	15.21	16.97	22.21	25.25
Debt to NOPAT	-47.63	-29.29	-10.13	-8.67	-15.33	-17.83	-87.09	-63.54	-48.04	-32.99	-28.83
Net Debt to NOPAT	-29.20	-18.55	-6.68	-6.09	-7.69	-9.59	-47.79	-38.26	-31.64	-22.99	-20.35
Long-Term Debt to NOPAT	-44.39	-27.39	-9.46	-8.10	-14.65	-17.02	-83.14	-58.20	-44.06	-30.00	-26.32
Altman Z-Score	0.85	0.87	0.63	0.78	0.82	0.81	0.67	0.65	0.62	0.57	0.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.53	0.60	0.54	0.54	1.21	1.10	1.01	0.88	0.82	0.74	0.70
Quick Ratio	0.46	0.52	0.48	0.47	1.14	1.02	0.93	0.79	0.71	0.58	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-918	-719	-1,168	-960	-869	-824	-1,200	-925	-1,117	-855	-815
Operating Cash Flow to CapEx	-56.01%	-20.43%	43.78%	-3.10%	-10.18%	-4.30%	79.72%	-49.57%	-66.98%	19.14%	118.81%
Free Cash Flow to Firm to Interest Expense	-19.13	-11.98	-23.84	-16.27	-11.58	-5.68	-8.27	-6.42	-7.76	-5.86	-5.70
Operating Cash Flow to Interest Expense	-3.69	-1.43	4.16	-0.24	-0.39	-0.12	0.79	-0.80	-0.99	0.34	0.84
Operating Cash Flow Less CapEx to Interest Expense	-10.27	-8.45	-5.35	-7.88	-4.19	-2.84	-0.20	-2.41	-2.46	-1.42	0.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.71	0.70	0.68	0.62	0.60	0.60	0.59	0.55	0.54	0.54
Accounts Receivable Turnover	30.96	29.45	27.41	28.88	30.53	27.13	25.48	26.30	28.87	25.17	24.11
Inventory Turnover	82.64	74.48	75.83	64.77	59.00	52.32	50.77	45.65	43.25	40.07	32.08
Fixed Asset Turnover	1.05	1.02	0.99	0.95	0.94	0.91	0.89	0.86	0.85	0.83	0.84
Accounts Payable Turnover	11.27	12.45	11.14	10.44	10.73	11.09	10.74	10.73	11.63	11.04	10.37
Days Sales Outstanding (DSO)	11.79	12.39	13.32	12.64	11.96	13.45	14.33	13.88	12.64	14.50	15.14
Days Inventory Outstanding (DIO)	4.42	4.90	4.81	5.64	6.19	6.98	7.19	8.00	8.44	9.11	11.38
Days Payable Outstanding (DPO)	32.40	29.33	32.77	34.97	34.01	32.92	33.98	34.01	31.38	33.06	35.19
Cash Conversion Cycle (CCC)	-16.19	-12.03	-14.64	-16.70	-15.87	-12.49	-12.46	-12.13	-10.30	-9.45	-8.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,724	6,172	5,781	6,333	6,566	7,007	6,859	7,262	7,613	7,792	7,517
Invested Capital Turnover	1.82	1.65	1.74	1.60	1.52	1.41	1.46	1.34	1.28	1.22	1.27
Increase / (Decrease) in Invested Capital	809	672	665	1,006	842	835	1,078	929	1,047	785	658
Enterprise Value (EV)	3,986	4,836	5,777	5,841	6,404	7,319	6,351	6,588	7,371	7,576	7,591
Market Capitalization	1,533	1,850	2,473	2,071	2,275	2,726	1,701	1,499	1,789	1,655	1,636
Book Value per Share	$10.26	$10.01	$7.74	$7.93	$7.62	$7.61	$6.93	$6.80	$6.24	$5.83	$4.89
Tangible Book Value per Share	$9.22	$8.97	$6.62	$6.79	$6.49	$6.46	$5.80	$5.65	$5.11	$4.69	$3.99
Total Capital	7,421	8,053	7,645	8,067	10,875	11,180	10,919	10,859	10,745	10,618	10,245
Total Debt	4,001	4,716	5,012	5,370	8,231	8,539	8,474	8,451	8,475	8,498	8,435
Total Long-Term Debt	3,729	4,409	4,682	5,016	7,868	8,147	8,090	7,740	7,772	7,729	7,701
Net Debt	2,453	2,986	3,304	3,770	4,129	4,593	4,650	5,089	5,582	5,921	5,955
Capital Expenditures (CapEx)	316	421	466	451	285	395	143	232	212	256	101
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,863	-2,728	-3,091	-2,952	-2,845	-2,841	-3,067	-2,865	-2,689	-2,654	-2,983
Debt-free Net Working Capital (DFNWC)	-1,481	-1,161	-1,528	-1,456	1,163	769	435	199	-68	-395	-713
Net Working Capital (NWC)	-1,753	-1,468	-1,858	-1,810	800	377	51	-512	-771	-1,164	-1,447
Net Nonoperating Expense (NNE)	44	56	213	21	33	55	86	78	73	107	162
Net Nonoperating Obligations (NNO)	2,304	2,835	3,148	3,636	3,922	4,366	4,414	4,854	5,343	5,672	5,707
Total Depreciation and Amortization (D&A)	156	159	158	164	165	168	168	171	173	176	179
Debt-free, Cash-free Net Working Capital to Revenue	-29.50%	-28.37%	-32.55%	-31.69%	-30.51%	-30.62%	-33.30%	-31.35%	-29.57%	-29.29%	-32.56%
Debt-free Net Working Capital to Revenue	-15.26%	-12.07%	-16.09%	-15.63%	12.47%	8.29%	4.72%	2.18%	-0.75%	-4.36%	-7.78%
Net Working Capital to Revenue	-18.06%	-15.27%	-19.57%	-19.43%	8.58%	4.06%	0.55%	-5.60%	-8.48%	-12.84%	-15.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.46)	($0.30)	($2.11)	$0.07	($0.17)	($0.09)	($0.59)	($0.21)	($0.39)	($0.47)	($0.86)
Adjusted Weighted Average Basic Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M
Adjusted Diluted Earnings per Share	($0.46)	($0.30)	($2.11)	$0.07	($0.17)	($0.09)	($0.59)	($0.21)	($0.39)	($0.47)	($0.86)
Adjusted Weighted Average Diluted Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	333.29M	339.28M	340.14M	346.83M	346.88M	353.00M	354.34M	363.66M	363.71M	370.12M	372.02M
Normalized Net Operating Profit after Tax (NOPAT)	-86	-27	-110	47	-7.70	12	-122	21	-67	-70	-157
Normalized NOPAT Margin	-3.66%	-1.17%	-4.98%	1.93%	-0.33%	0.52%	-5.69%	0.89%	-2.86%	-3.12%	-7.00%
Pre Tax Income Margin	-7.39%	-4.73%	-34.72%	1.28%	-3.30%	-3.65%	-12.66%	-3.99%	-8.44%	-9.49%	-15.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.02	-1.22	-14.59	1.25	-0.41	0.13	-1.14	0.10	-0.63	-0.68	-1.53
NOPAT to Interest Expense	-2.28	-0.78	-10.27	0.78	-0.35	0.08	-0.84	0.03	-0.49	-0.48	-1.10
EBIT Less CapEx to Interest Expense	-9.60	-8.23	-24.10	-6.39	-4.21	-2.59	-2.12	-1.51	-2.10	-2.43	-2.24
NOPAT Less CapEx to Interest Expense	-8.86	-7.80	-19.78	-6.87	-4.15	-2.65	-1.83	-1.58	-1.96	-2.23	-1.80
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key four-year trends for JetBlue Airways (JBLU) based on the provided quarterly income statements, balance sheets, and cash flow statements. The focus is on what may matter most to retail investors looking for liquidity, profitability trends, and leverage risk.

Consistent gross margin in the low-to-mid 20s% across 2025 quarters (approx. 18.5% in Q1 2025 to about 25.9% in Q2 2025, averaging around 22–25%). This suggests a relatively stable gross profit cushion given revenue swings in the low- to mid-2B range.
Positive quarterly operating cash flow in select periods, notably Q1 2025 (+$114 million) and Q4 2025 (+$49 million), signaling moments of improved cash generation despite ongoing volatility in other quarters.
Healthy liquidity with cash & equivalents generally around $2.0–$2.4 billion through 2025 (e.g., Q1 2025 about $2.30B; Q3 2025 about $2.41B), providing a cushion for seasonality and near-term liquidity needs.
Long-term debt level remains relatively stable around $7.7–$7.8 billion across 2025 quarters, indicating no sharp spike in leverage over this period.
Revenue and gross profit exhibit quarterly variability but stay in a narrow band around $2.2–$2.4 billion in 2025, suggesting some stabilization after pandemic-era swings, though not a clear growth trend yet.
Net income has consistently been negative across 2025 quarters (e.g., -$177M in Q4 2025, -$74M in Q2 2025, -$143M in Q3 2025), reflecting ongoing profitability challenges even as revenue and gross profit hold relatively steady.
Cash flow from financing and investing activities typically outflows cash in many periods (e.g., net cash used in financing and investing activities contributing to a negative net change in cash in several quarters), underscoring ongoing capital allocation and debt management efforts.
Net income and per-share metrics remain negative in 2025, with losses translating to negative basic and diluted earnings per share (EPS) in multiple quarters (e.g., EPS around -$0.47 in Q4 2025, -$0.39 in Q3 2025, -$0.47 in Q4 2025), which could weigh on valuation Without a material improvement in profitability.
Net change in cash often negative across quarters, including -$354 million in Q4 2025 and -$163 million in some earlier periods, signaling recurring cash outflows despite some positive operating cash-flow pockets.
Leverage remains a concern given liabilities exceed equity by a wide margin (examples from 2025: total liabilities around $14–14.9B vs. equity around $2.0–2.7B), indicating a high level of leverage that could pressure the balance sheet if cash flow weakens.

05/10/26 09:12 AM ETAI Generated. May Contain Errors.

JetBlue Airways Financials - Frequently Asked Questions

According to the most recent income statement we have on file, JetBlue Airways' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

JetBlue Airways' net income appears to be on an upward trend, with a most recent value of -$602 million in 2025, falling from $677 million in 2015. The previous period was -$795 million in 2024. See where experts think JetBlue Airways is headed by visiting JetBlue Airways' forecast page.

JetBlue Airways' total operating income in 2025 was -$368 million, based on the following breakdown:

Total Gross Profit: $2.03 billion
Total Operating Expenses: $2.40 billion

Over the last 10 years, JetBlue Airways' total revenue changed from $6.42 billion in 2015 to $9.06 billion in 2025, a change of 41.2%.

JetBlue Airways' total liabilities were at $14.45 billion at the end of 2025, a 1.8% increase from 2024, and a 165.9% increase since 2015.

In the past 10 years, JetBlue Airways' cash and equivalents has ranged from $303 million in 2017 to $2.02 billion in 2021, and is currently $1.95 billion as of their latest financial filing in 2025.

Over the last 10 years, JetBlue Airways' book value per share changed from 10.19 in 2015 to 5.83 in 2025, a change of -42.8%.

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Financial statements for NASDAQ:JBLU last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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JetBlue Airways (JBLU) Financials

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JetBlue Airways (JBLU) Financials

Annual Income Statements for JetBlue Airways

Quarterly Income Statements for JetBlue Airways

Annual Cash Flow Statements for JetBlue Airways

Quarterly Cash Flow Statements for JetBlue Airways

Annual Balance Sheets for JetBlue Airways

Quarterly Balance Sheets for JetBlue Airways

Annual Metrics And Ratios for JetBlue Airways

Quarterly Metrics And Ratios for JetBlue Airways

Financials Breakdown Chart

Key Financial Trends

JetBlue Airways Financials - Frequently Asked Questions

When does JetBlue Airways' financial year end?

How has JetBlue Airways' net income changed over the last 10 years?

What is JetBlue Airways' operating income?

How has JetBlue Airways' revenue changed over the last 10 years?

How much debt does JetBlue Airways have?

How much cash does JetBlue Airways have?

How has JetBlue Airways' book value per share changed over the last 10 years?

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