Sun Country Airlines (SNCY) Financials

$15.88 +0.61 (+3.99%)

Closing price 04:00 PM Eastern

Extended Trading

$15.88 -0.01 (-0.03%)

As of 05:41 PM Eastern

Annual Income Statements for Sun Country Airlines

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	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	46	-3.90	81	18	72	53	53
Consolidated Net Income / (Loss)	46	-3.90	81	18	72	53	53
Net Income / (Loss) Continuing Operations	46	-3.90	81	18	72	53	53
Total Pre-Tax Income	60	-4.68	100	24	94	70	70
Total Operating Income	78	17	112	56	128	106	101
Total Gross Profit	301	114	257	326	455	452	476
Total Revenue	701	401	623	894	1,050	1,076	1,127
Operating Revenue	701	401	623	894	1,050	1,076	1,127
Total Cost of Revenue	401	287	366	569	594	623	651
Operating Cost of Revenue	401	287	366	569	594	623	651
Total Operating Expenses	223	97	145	270	328	346	375
Marketing Expense	35	17	22	31	34	35	33
Depreciation Expense	35	48	57	68	88	95	99
Other Operating Expenses / (Income)	145	97	139	171	206	216	241
Other Special Charges / (Income)	7.09	-65	-72	-	0.00	0.00	1.89
Total Other Income / (Expense), net	-18	-22	-12	-32	-33	-36	-30
Interest Expense	17	22	26	31	43	44	37
Interest & Investment Income	0.94	0.38	0.09	4.53	10	7.83	6.97
Other Income / (Expense), net	-1.73	-0.37	15	-5.24	-0.89	0.06	-0.47
Income Tax Expense	14	-0.78	19	6.31	22	17	17
Basic Earnings per Share	$0.99	($0.08)	$1.47	$0.31	$1.30	$1.00	$0.99
Weighted Average Basic Shares Outstanding	46.77M	46.81M	55.18M	57.95M	55.51M	52.91M	53.12M
Diluted Earnings per Share	$0.96	($0.08)	$1.37	$0.29	$1.23	$0.96	$0.96
Weighted Average Diluted Shares Outstanding	47.91M	46.81M	59.32M	61.05M	58.52M	55.06M	54.86M
Weighted Average Basic & Diluted Shares Outstanding	-	-	57.87M	57.33M	53.29M	53.16M	53.22M

This table shows Sun Country Airlines' 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	7.59	5.64	35	1.81	2.34	13	37	6.58	1.55	8.15	24
Consolidated Net Income / (Loss)	7.59	5.64	35	1.81	2.34	13	37	6.58	1.55	8.15	24
Net Income / (Loss) Continuing Operations	7.59	5.64	35	1.81	2.34	13	37	6.58	1.55	8.15	24
Total Pre-Tax Income	10	7.66	47	3.08	3.00	17	48	8.56	2.17	11	30
Total Operating Income	19	17	55	12	12	26	56	16	9.90	18	37
Total Gross Profit	101	100	144	99	98	171	152	109	97	118	144
Total Revenue	249	246	311	254	249	260	327	264	256	281	338
Operating Revenue	249	246	311	254	249	260	327	264	256	281	338
Total Cost of Revenue	148	145	167	155	152	90	174	155	158	163	195
Operating Cost of Revenue	148	145	167	155	152	90	174	155	158	163	195
Total Operating Expenses	82	83	89	87	85	145	96	92	87	100	107
Marketing Expense	7.57	8.10	11	8.39	7.75	8.12	10	8.00	6.98	7.92	10
Depreciation Expense	23	24	24	24	24	24	25	25	25	24	25
Other Operating Expenses / (Income)	52	51	55	55	54	113	59	59	55	67	62
Other Special Charges / (Income)	-	-	0.00	0.00	0.00	-	1.80	0.05	0.03	0.01	9.80
Total Other Income / (Expense), net	-8.94	-9.47	-8.62	-9.28	-9.38	-9.14	-8.11	-7.71	-7.74	-6.81	-6.61
Interest Expense	11	11	11	11	11	11	9.63	9.21	9.19	8.84	8.85
Interest & Investment Income	2.48	2.41	2.45	1.80	1.66	1.93	2.00	1.51	1.45	2.01	2.24
Other Income / (Expense), net	-0.02	-0.52	0.05	-0.00	0.01	0.00	-0.48	-0.01	-0.00	0.01	0.00
Income Tax Expense	2.48	2.02	11	1.27	0.66	3.49	12	1.98	0.61	3.21	6.16
Basic Earnings per Share	$0.14	$0.11	$0.67	$0.03	$0.04	$0.26	$0.68	$0.12	$0.03	$0.16	$0.45
Weighted Average Basic Shares Outstanding	55.44M	55.51M	53.03M	52.69M	52.88M	52.91M	53.34M	53.22M	53.03M	53.12M	53.95M
Diluted Earnings per Share	$0.13	$0.11	$0.64	$0.03	$0.04	$0.25	$0.66	$0.12	$0.03	$0.15	$0.43
Weighted Average Diluted Shares Outstanding	58.60M	58.52M	55.40M	54.79M	54.78M	55.06M	55.51M	54.78M	54.68M	54.86M	56.37M
Weighted Average Basic & Diluted Shares Outstanding	54.13M	53.29M	52.61M	52.81M	52.94M	53.16M	53.20M	53.32M	52.71M	53.22M	54.20M

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	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	21	5.89	247	-215	-39	37	66
Net Cash From Operating Activities	63	0.37	159	127	174	165	157
Net Cash From Continuing Operating Activities	63	0.37	159	127	174	165	157
Net Income / (Loss) Continuing Operations	46	-3.90	81	18	72	53	53
Consolidated Net Income / (Loss)	46	-3.90	81	18	72	53	53
Depreciation Expense	35	48	57	68	88	95	99
Non-Cash Adjustments To Reconcile Net Income	-16	-6.21	-32	-4.61	0.14	-9.79	-10
Changes in Operating Assets and Liabilities, net	12	-29	57	47	14	27	15
Net Cash From Investing Activities	-70	-96	-124	-349	-171	8.40	-39
Net Cash From Continuing Investing Activities	-70	-96	-124	-349	-171	8.40	-39
Purchase of Property, Plant & Equipment	-70	-96	-123	-188	-218	-47	-73
Purchase of Investments	-3.39	-0.93	-1.80	-179	-96	-92	-67
Sale of Property, Plant & Equipment	0.00	0.20	0.06	2.45	4.95	17	19
Sale and/or Maturity of Investments	3.65	1.00	1.14	5.00	137	130	81
Other Investing Activities, net	-	0.00	0.00	10	0.29	0.84	0.20
Net Cash From Financing Activities	27	102	212	7.03	-42	-136	-53
Net Cash From Continuing Financing Activities	27	102	212	7.03	-42	-136	-53
Repayment of Debt	-19	-164	-100	-114	-68	-191	-130
Repurchase of Common Equity	0.00	0.00	-8.38	-25	-69	-12	-20
Issuance of Debt	42	265	81	188	119	70	108
Other Financing Activities, net	0.00	0.02	4.23	-42	-24	-3.35	-11
Cash Interest Paid	16	20	24	24	41	43	35
Cash Income Taxes Paid	0.39	0.05	0.17	1.69	1.50	0.39	4.40

This table details how cash moves in and out of Sun Country Airlines' 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	-56	26	-24	-5.56	33	33	-33	-14	82	31	5.83
Net Cash From Operating Activities	6.96	71	31	8.15	35	91	16	20	42	79	30
Net Cash From Continuing Operating Activities	6.96	71	31	8.15	35	91	16	20	42	79	30
Net Income / (Loss) Continuing Operations	7.59	5.65	35	1.81	2.34	13	37	6.58	1.55	8.15	24
Consolidated Net Income / (Loss)	7.59	5.65	35	1.81	2.34	13	37	6.58	1.55	8.15	24
Depreciation Expense	23	24	24	24	24	24	25	25	25	24	25
Non-Cash Adjustments To Reconcile Net Income	-3.97	12	-4.73	-4.61	-4.88	2.81	-3.51	-4.67	-4.65	2.77	-4.75
Changes in Operating Assets and Liabilities, net	-19	29	-24	-13	14	49	-41	-7.06	20	44	-15
Net Cash From Investing Activities	-10	7.05	-20	24	17	-13	-11	2.56	35	-66	-7.31
Net Cash From Continuing Investing Activities	-10	7.05	-20	24	17	-13	-11	2.56	35	-66	-7.31
Purchase of Property, Plant & Equipment	-18	-7.52	-30	-8.53	-4.38	-4.72	-15	-5.80	-7.94	-44	-41
Purchase of Investments	-33	-13	-31	-0.41	-24	-37	-19	-8.94	-5.58	-33	0.00
Sale of Property, Plant & Equipment	-	-	-	-	-	-	6.00	-	-	3.02	9.62
Sale and/or Maturity of Investments	39	26	40	25	43	22	18	13	43	7.75	24
Net Cash From Financing Activities	-53	-53	-34	-38	-19	-45	-39	-36	4.40	18	-17
Net Cash From Continuing Financing Activities	-53	-53	-34	-38	-19	-45	-39	-36	4.40	18	-17
Repayment of Debt	-12	-34	-20	-33	-14	-85	-24	-36	-25	-51	-11
Repurchase of Common Equity	-33	-14	-11	-	-	-0.64	-10	-	-10	-	0.00
Other Financing Activities, net	-7.72	-5.49	-3.35	-15	-5.38	-20	-4.92	-	-15	15	-5.25

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,053	1,380	1,524	1,624	1,630	1,680
Total Current Assets	127	375	345	271	267	368
Cash & Equivalents	62	309	92	46	83	145
Restricted Cash	8.34	8.45	11	17	17	21
Short-Term Investments	5.62	6.28	179	141	104	90
Accounts Receivable	29	30	35	38	35	54
Inventories, net	5.41	5.41	7.66	7.79	10	12
Prepaid Expenses	8.00	8.51	11	16	14	18
Other Current Assets	8.65	7.30	9.42	4.76	2.46	29
Plant, Property, & Equipment, net	415	579	786	969	970	927
Plant, Property & Equipment, gross	480	696	962	1,222	1,305	1,341
Accumulated Depreciation	65	117	177	253	335	414
Total Noncurrent Assets	512	426	393	383	394	385
Goodwill	222	222	222	222	222	222
Intangible Assets	93	89	85	84	78	73
Other Noncurrent Operating Assets	150	98	73	78	93	90
Total Liabilities & Shareholders' Equity	1,053	1,380	1,524	1,624	1,630	1,680
Total Liabilities	769	890	1,032	1,109	1,060	1,055
Total Current Liabilities	254	282	377	419	422	451
Short-Term Debt	26	29	58	74	88	68
Accounts Payable	34	40	62	59	56	58
Current Employee Benefit Liabilities	16	29	27	33	38	46
Other Taxes Payable	5.88	13	18	18	21	23
Other Current Liabilities	171	171	211	231	209	257
Total Noncurrent Liabilities	516	608	655	691	638	604
Long-Term Debt	256	248	295	327	240	255
Capital Lease Obligations	208	180	233	233	251	189
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	99	102	107	111	128
Other Noncurrent Operating Liabilities	51	81	25	24	36	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	284	491	493	514	570	625
Total Preferred & Common Equity	284	491	493	514	570	625
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	284	491	493	514	570	625
Common Stock	249	486	489	515	529	551
Retained Earnings	38	4.37	22	94	147	200
Treasury Stock	-	0.00	-18	-94	-106	-126
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.81	-0.06	-0.09	0.02

This table presents Sun Country Airlines' 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	1,521	1,582	1,635	1,601	1,639	1,604	1,610	1,592	1,552	1,604	1,684
Total Current Assets	338	326	302	260	235	214	226	241	222	285	355
Cash & Equivalents	132	72	87	27	28	27	57	53	37	112	154
Restricted Cash	14	23	7.28	11	11	7.17	11	14	16	23	18
Short-Term Investments	135	172	158	153	133	108	90	105	101	64	66
Accounts Receivable	32	35	27	43	38	45	38	40	35	50	55
Inventories, net	7.28	6.81	7.37	7.68	8.58	8.46	9.73	11	11	12	12
Prepaid Expenses	12	12	12	13	13	15	13	15	15	18	20
Other Current Assets	5.90	6.10	3.36	5.18	3.88	3.24	8.12	2.90	5.86	5.65	31
Plant, Property, & Equipment, net	789	868	948	957	1,018	1,002	993	956	928	915	942
Plant, Property & Equipment, gross	949	1,059	1,159	1,188	1,291	1,295	1,307	1,310	1,302	1,312	1,374
Accumulated Depreciation	160	191	211	232	273	292	314	354	374	396	432
Total Noncurrent Assets	395	387	384	384	386	388	391	395	402	404	386
Goodwill	222	222	222	222	222	222	222	222	222	222	222
Intangible Assets	86	86	86	85	82	81	79	77	75	74	72
Other Noncurrent Operating Assets	72	77	76	77	81	85	89	96	104	107	91
Total Liabilities & Shareholders' Equity	1,521	1,582	1,635	1,601	1,639	1,604	1,610	1,592	1,552	1,604	1,684
Total Liabilities	1,013	1,061	1,094	1,082	1,098	1,057	1,057	989	939	994	1,024
Total Current Liabilities	321	366	383	371	384	367	381	383	355	376	430
Short-Term Debt	46	66	83	83	74	76	76	92	81	75	62
Accounts Payable	50	58	56	56	60	61	49	57	57	52	84
Current Employee Benefit Liabilities	26	29	30	30	32	32	33	36	37	40	41
Other Taxes Payable	11	15	15	13	16	15	15	17	15	16	18
Other Current Liabilities	186	190	190	187	190	176	199	167	153	193	225
Total Noncurrent Liabilities	693	694	711	711	715	690	676	606	584	617	594
Long-Term Debt	325	346	365	352	314	290	276	221	201	227	245
Capital Lease Obligations	-	-	-	-	-	263	256	246	241	235	186
Noncurrent Deferred & Payable Income Tax Liabilities	102	93	96	105	105	108	108	105	109	122	134
Other Noncurrent Operating Liabilities	267	255	249	254	296	29	37	35	34	33	30
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	508	521	541	519	541	547	553	603	613	610	659
Total Preferred & Common Equity	508	521	541	519	541	547	553	603	613	610	659
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	508	521	541	519	541	547	553	603	613	610	659
Common Stock	494	501	508	512	518	522	525	535	539	544	561
Retained Earnings	15	60	81	89	130	131	134	184	190	192	224
Treasury Stock	-0.05	-40	-48	-81	-106	-106	-106	-116	-116	-126	-126
Accumulated Other Comprehensive Income / (Loss)	-0.78	-0.42	-0.66	-0.51	-0.20	-0.22	0.02	-0.04	-0.03	0.03	-0.04

This table displays calculated financial ratios and metrics derived from Sun Country Airlines' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	57,872,452.00	-	-	-	53,223,302.00
DEI Adjusted Shares Outstanding	0.00	0.00	57,872,452.00	-	-	-	53,223,302.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	1.40	-	-	-	0.99
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-42.76%	55.18%	43.57%	17.35%	2.49%	4.74%
EBITDA Growth	0.00%	-42.47%	219.65%	-34.25%	82.93%	-6.17%	-1.02%
EBIT Growth	0.00%	-77.73%	643.92%	-60.12%	150.85%	-16.25%	-5.60%
NOPAT Growth	0.00%	-79.66%	644.94%	-54.71%	138.04%	-17.55%	-6.14%
Net Income Growth	0.00%	-108.47%	2,181.15%	-78.24%	308.36%	-26.71%	-0.18%
EPS Growth	0.00%	-108.33%	1,812.50%	-78.83%	324.14%	-21.95%	0.00%
Operating Cash Flow Growth	0.00%	-99.41%	42,406.95%	-19.84%	36.63%	-5.32%	-4.70%
Free Cash Flow Firm Growth	0.00%	0.00%	124.03%	-179.37%	62.07%	291.95%	71.07%
Invested Capital Growth	0.00%	0.00%	-10.64%	27.55%	18.51%	-1.56%	-6.54%
Revenue Q/Q Growth	0.00%	0.00%	11.60%	6.50%	1.78%	1.40%	1.86%
EBITDA Q/Q Growth	0.00%	0.00%	13.38%	5.11%	3.93%	5.95%	-3.52%
EBIT Q/Q Growth	0.00%	0.00%	14.98%	6.35%	1.26%	9.79%	-7.30%
NOPAT Q/Q Growth	0.00%	0.00%	20.03%	4.87%	1.26%	11.01%	-9.03%
Net Income Q/Q Growth	0.00%	0.00%	16.18%	29.32%	-2.22%	17.27%	-9.11%
EPS Q/Q Growth	0.00%	0.00%	20.18%	20.83%	-0.81%	17.07%	-9.43%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	40.46%	11.51%	9.91%	13.10%	-6.91%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-264.64%	28.83%	156.88%	-1.32%
Invested Capital Q/Q Growth	0.00%	0.00%	-2.03%	33.41%	23.65%	-7.41%	-6.87%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	42.87%	28.45%	41.30%	36.42%	43.39%	47.58%	42.24%
EBITDA Margin	13.93%	14.00%	28.84%	13.21%	20.59%	18.85%	17.66%
Operating Margin	11.14%	4.33%	17.97%	6.23%	12.15%	9.85%	8.93%
EBIT Margin	10.89%	4.24%	20.32%	5.64%	12.06%	9.86%	8.88%
Profit (Net Income) Margin	6.57%	-0.97%	13.04%	1.98%	6.88%	4.92%	4.69%
Tax Burden Percent	76.58%	83.38%	80.98%	73.71%	76.66%	76.04%	75.21%
Interest Burden Percent	78.75%	-27.52%	79.27%	47.51%	74.37%	65.61%	70.14%
Effective Tax Rate	23.42%	0.00%	19.02%	26.29%	23.34%	23.96%	24.79%
Return on Invested Capital (ROIC)	0.00%	3.48%	13.70%	5.78%	11.23%	8.61%	8.28%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-4.26%	10.27%	-4.91%	4.26%	1.58%	1.04%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-6.23%	7.28%	-2.18%	3.10%	1.15%	0.55%
Return on Equity (ROE)	0.00%	-2.75%	20.98%	3.60%	14.33%	9.75%	8.83%
Cash Return on Invested Capital (CROIC)	0.00%	-196.52%	24.94%	-18.43%	-5.71%	10.18%	15.05%
Operating Return on Assets (OROA)	0.00%	1.62%	10.40%	3.48%	8.04%	6.52%	6.05%
Return on Assets (ROA)	0.00%	-0.37%	6.68%	1.22%	4.59%	3.25%	3.19%
Return on Common Equity (ROCE)	0.00%	-2.75%	20.98%	3.60%	14.33%	9.75%	8.83%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.38%	16.56%	3.59%	14.03%	9.28%	0.00%
Net Operating Profit after Tax (NOPAT)	60	12	91	41	98	81	76
NOPAT Margin	8.53%	3.03%	14.55%	4.59%	9.31%	7.49%	6.71%
Net Nonoperating Expense Percent (NNEP)	0.00%	7.75%	3.43%	10.69%	6.97%	7.03%	7.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	3.81%	8.51%	7.02%	6.65%
Cost of Revenue to Revenue	57.13%	71.55%	58.70%	63.58%	56.61%	52.42%	57.76%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.73%	24.12%	23.33%	30.20%	31.24%	37.72%	33.31%
Earnings before Interest and Taxes (EBIT)	76	17	127	50	127	106	100
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	56	180	118	216	203	199
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.77	3.20	1.87	1.66	1.35	1.21
Price to Tangible Book Value (P/TBV)	0.00	0.00	8.75	4.98	4.08	2.86	2.30
Price to Revenue (P/Rev)	0.31	0.54	2.52	1.03	0.81	0.72	0.67
Price to Earnings (P/E)	4.74	0.00	19.30	52.19	11.80	14.59	14.36
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	21.12%	0.00%	5.18%	1.92%	8.48%	6.85%	6.96%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.91	2.73	1.54	1.36	1.23	1.15
Enterprise Value to Revenue (EV/Rev)	0.00	1.58	2.73	1.37	1.22	1.06	0.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	11.26	9.47	10.38	5.93	5.65	5.10
Enterprise Value to EBIT (EV/EBIT)	0.00	37.21	13.45	24.29	10.12	10.80	10.15
Enterprise Value to NOPAT (EV/NOPAT)	0.00	52.02	18.78	29.86	13.11	14.21	13.43
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	1,692.71	10.71	9.62	7.36	6.95	6.47
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	10.32	0.00	0.00	12.02	7.39
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	1.73	0.93	1.19	1.23	1.01	0.82
Long-Term Debt to Equity	0.00	1.64	0.87	1.07	1.09	0.86	0.71
Financial Leverage	0.00	1.46	0.71	0.44	0.73	0.73	0.53
Leverage Ratio	0.00	3.71	3.14	2.95	3.13	3.00	2.77
Compound Leverage Factor	0.00	-1.02	2.49	1.40	2.32	1.97	1.94
Debt to Total Capital	0.00%	63.36%	48.28%	54.30%	55.21%	50.34%	45.06%
Short-Term Debt to Total Capital	0.00%	3.37%	3.10%	5.34%	6.46%	7.63%	5.98%
Long-Term Debt to Total Capital	0.00%	59.99%	45.17%	48.97%	48.76%	42.72%	39.09%
Preferred Equity to Total Capital	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%
Common Equity to Total Capital	0.00%	36.64%	51.72%	45.70%	44.79%	49.66%	54.94%
Debt to EBITDA	0.00	8.73	2.55	4.96	2.94	2.85	2.58
Net Debt to EBITDA	0.00	7.38	0.74	2.57	1.99	1.84	1.29
Long-Term Debt to EBITDA	0.00	8.27	2.39	4.47	2.59	2.42	2.24
Debt to NOPAT	0.00	40.34	5.05	14.26	6.49	7.17	6.78
Net Debt to NOPAT	0.00	34.09	1.48	7.40	4.39	4.64	3.40
Long-Term Debt to NOPAT	0.00	38.19	4.73	12.86	5.73	6.09	5.88
Altman Z-Score	0.00	0.51	1.90	1.23	1.34	1.32	1.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.50	1.33	0.92	0.65	0.63	0.82
Quick Ratio	0.00	0.38	1.23	0.81	0.54	0.53	0.64
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-687	165	-131	-50	95	137
Operating Cash Flow to CapEx	90.63%	0.39%	128.96%	68.71%	81.67%	546.52%	291.60%
Free Cash Flow to Firm to Interest Expense	0.00	-31.10	6.27	-4.22	-1.16	2.15	3.73
Operating Cash Flow to Interest Expense	3.69	0.02	6.04	4.11	4.08	3.72	4.26
Operating Cash Flow Less CapEx to Interest Expense	-0.38	-4.34	1.36	-1.87	-0.92	3.04	2.80
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.38	0.51	0.62	0.67	0.66	0.68
Accounts Receivable Turnover	0.00	13.99	21.17	27.40	28.64	29.29	25.32
Inventory Turnover	0.00	53.13	67.65	87.06	76.91	61.77	58.34
Fixed Asset Turnover	0.00	0.97	1.25	1.31	1.20	1.11	1.19
Accounts Payable Turnover	0.00	8.44	9.91	11.13	9.79	9.80	11.45
Days Sales Outstanding (DSO)	0.00	26.08	17.24	13.32	12.74	12.46	14.42
Days Inventory Outstanding (DIO)	0.00	6.87	5.40	4.19	4.75	5.91	6.26
Days Payable Outstanding (DPO)	0.00	43.24	36.85	32.79	37.28	37.23	31.87
Cash Conversion Cycle (CCC)	0.00	-10.29	-14.22	-15.28	-19.79	-18.86	-11.20
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	699	624	796	944	929	882
Invested Capital Turnover	0.00	1.15	0.94	1.26	1.21	1.15	1.23
Increase / (Decrease) in Invested Capital	0.00	699	-74	172	147	-15	-62
Enterprise Value (EV)	0.00	633	1,702	1,226	1,281	1,146	1,016
Market Capitalization	218	218	1,568	923	852	772	759
Book Value per Share	$0.00	$6.06	$8.52	$8.47	$9.50	$10.77	$11.86
Tangible Book Value per Share	$0.00	($0.67)	$3.11	$3.19	$3.85	$5.11	$6.25
Total Capital	0.00	775	948	1,078	1,149	1,149	1,138
Total Debt	0.00	491	458	586	634	578	513
Total Long-Term Debt	0.00	465	428	528	560	491	445
Net Debt	0.00	415	134	304	429	374	257
Capital Expenditures (CapEx)	70	96	123	185	213	30	54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-177	-201	-256	-278	-273	-271
Debt-free Net Working Capital (DFNWC)	0.00	-101	123	26	-73	-68	-15
Net Working Capital (NWC)	0.00	-127	94	-32	-147	-156	-83
Net Nonoperating Expense (NNE)	14	16	9.41	23	26	28	23
Net Nonoperating Obligations (NNO)	0.00	415	134	304	429	359	257
Total Depreciation and Amortization (D&A)	21	39	53	68	89	97	99
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-44.05%	-32.24%	-28.62%	-26.47%	-25.35%	-24.01%
Debt-free Net Working Capital to Revenue	0.00%	-25.13%	19.78%	2.90%	-6.96%	-6.33%	-1.32%
Net Working Capital to Revenue	0.00%	-31.63%	15.05%	-3.54%	-14.03%	-14.47%	-7.36%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.40	$0.31	$1.30	$1.00	$0.99
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	55.18M	57.95M	55.51M	52.91M	53.12M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.31	$0.29	$1.23	$0.96	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	59.32M	61.05M	58.52M	55.06M	54.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	57.87M	57.33M	53.29M	53.16M	53.22M
Normalized Net Operating Profit after Tax (NOPAT)	65	-33	32	41	98	81	77
Normalized NOPAT Margin	9.30%	-8.23%	5.14%	4.59%	9.31%	7.49%	6.84%
Pre Tax Income Margin	8.58%	-1.17%	16.10%	2.68%	8.97%	6.47%	6.23%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	4.45	0.77	4.81	1.63	2.97	2.39	2.72
NOPAT to Interest Expense	3.48	0.55	3.44	1.32	2.29	1.82	2.05
EBIT Less CapEx to Interest Expense	0.38	-3.58	0.13	-4.35	-2.03	1.71	1.25
NOPAT Less CapEx to Interest Expense	-0.58	-3.80	-1.24	-4.66	-2.71	1.14	0.59
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	10.32%	141.74%	95.02%	22.94%	37.90%

This table displays calculated financial ratios and metrics derived from Sun Country Airlines' 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	-	-	-	-	-	-	53,201,003.00	53,316,378.00	52,714,634.00	53,223,302.00	54,196,458.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	53,201,003.00	53,316,378.00	52,714,634.00	53,223,302.00	54,196,458.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.69	0.12	0.03	0.15	0.44
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.26%	8.10%	5.91%	-2.57%	0.24%	6.05%	4.87%	3.63%	2.43%	7.89%	3.59%
EBITDA Growth	16.00%	20.62%	5.33%	-37.73%	-13.42%	24.09%	1.95%	14.54%	-4.33%	-14.57%	-23.01%
EBIT Growth	0.95%	10.45%	-0.63%	-65.13%	-34.74%	56.95%	0.99%	31.50%	-20.13%	-30.26%	-33.87%
NOPAT Growth	12.75%	8.61%	-2.75%	-73.51%	-32.64%	63.93%	2.01%	72.07%	-26.50%	-37.00%	-31.19%
Net Income Growth	-28.90%	-22.52%	-7.87%	-91.21%	-69.15%	138.06%	3.46%	262.97%	-33.73%	-39.38%	-34.02%
EPS Growth	-27.78%	-8.33%	0.00%	-91.43%	-69.23%	127.27%	3.13%	300.00%	-25.00%	-40.00%	-34.85%
Operating Cash Flow Growth	-79.90%	28.15%	-35.81%	-82.96%	409.21%	26.71%	-46.52%	143.17%	18.40%	-12.87%	80.82%
Free Cash Flow Firm Growth	-386.28%	15.96%	-148.29%	-101.29%	-51.70%	126.28%	-297.75%	122.39%	127.40%	266.33%	155.04%
Invested Capital Growth	27.86%	18.51%	13.41%	40.23%	31.47%	-1.56%	30.68%	-5.06%	-5.59%	-6.54%	-7.58%
Revenue Q/Q Growth	-4.68%	-1.34%	26.85%	-18.33%	-1.93%	4.38%	25.44%	-19.30%	-3.07%	9.95%	20.43%
EBITDA Q/Q Growth	-27.76%	-3.77%	96.69%	-54.46%	0.43%	37.93%	61.60%	-48.83%	-16.12%	23.17%	45.64%
EBIT Q/Q Growth	-46.42%	-12.55%	232.52%	-77.62%	0.27%	110.30%	113.97%	-70.85%	-39.10%	83.62%	102.89%
NOPAT Q/Q Growth	-47.76%	-11.94%	231.64%	-82.64%	32.87%	114.29%	106.36%	-70.72%	-43.24%	83.69%	125.38%
Net Income Q/Q Growth	-63.18%	-25.65%	525.67%	-94.87%	29.25%	473.70%	171.92%	-82.00%	-76.40%	424.81%	195.96%
EPS Q/Q Growth	-62.86%	-15.38%	481.82%	-95.31%	33.33%	525.00%	164.00%	-81.82%	-75.00%	400.00%	186.67%
Operating Cash Flow Q/Q Growth	-85.45%	927.15%	-57.01%	-73.47%	334.68%	155.59%	-81.86%	20.63%	111.64%	88.10%	-62.35%
Free Cash Flow Firm Q/Q Growth	-5.79%	11.31%	64.65%	-506.90%	20.27%	115.36%	-635.11%	134.16%	-2.42%	18.39%	39.47%
Invested Capital Q/Q Growth	3.59%	23.65%	-19.82%	36.53%	-2.88%	-7.41%	6.45%	-0.81%	-3.43%	-6.87%	3.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.65%	40.80%	46.30%	38.96%	39.22%	65.53%	46.64%	41.18%	37.98%	41.99%	42.43%
EBITDA Margin	16.78%	16.36%	25.37%	14.15%	14.49%	19.15%	24.67%	15.64%	13.53%	15.16%	18.33%
Operating Margin	7.64%	6.97%	17.71%	4.86%	4.96%	10.01%	17.22%	6.17%	3.88%	6.46%	10.90%
EBIT Margin	7.63%	6.76%	17.73%	4.86%	4.97%	10.01%	17.07%	6.17%	3.87%	6.47%	10.90%
Profit (Net Income) Margin	3.05%	2.30%	11.34%	0.71%	0.94%	5.16%	11.18%	2.49%	0.61%	2.90%	7.12%
Tax Burden Percent	75.40%	73.69%	75.85%	58.75%	77.96%	79.37%	75.90%	76.87%	71.65%	71.76%	79.66%
Interest Burden Percent	53.01%	46.12%	84.31%	24.95%	24.24%	64.95%	86.32%	52.64%	21.88%	62.45%	82.06%
Effective Tax Rate	24.60%	26.31%	24.15%	41.25%	22.04%	20.63%	24.10%	23.13%	28.35%	28.24%	20.35%
Return on Invested Capital (ROIC)	8.73%	6.20%	20.13%	3.42%	4.65%	9.13%	16.33%	5.18%	3.15%	5.72%	10.39%
ROIC Less NNEP Spread (ROIC-NNEP)	4.68%	4.30%	16.52%	1.82%	2.54%	7.29%	14.29%	3.79%	1.74%	4.17%	8.74%
Return on Net Nonoperating Assets (RNNOA)	1.52%	3.13%	5.63%	1.14%	1.65%	5.29%	7.51%	2.79%	1.18%	2.20%	4.44%
Return on Equity (ROE)	10.25%	9.33%	25.77%	4.57%	6.30%	14.42%	23.85%	7.97%	4.33%	7.93%	14.82%
Cash Return on Invested Capital (CROIC)	-10.26%	-5.71%	0.97%	-24.74%	-18.97%	10.18%	-17.27%	13.65%	14.27%	15.05%	14.46%
Operating Return on Assets (OROA)	5.04%	4.51%	11.75%	3.18%	3.28%	6.62%	11.53%	4.30%	2.67%	4.40%	7.58%
Return on Assets (ROA)	2.01%	1.53%	7.51%	0.47%	0.62%	3.41%	7.55%	1.74%	0.42%	1.97%	4.95%
Return on Common Equity (ROCE)	10.25%	9.33%	25.77%	4.57%	6.30%	14.42%	23.85%	7.97%	4.33%	7.93%	14.82%
Return on Equity Simple (ROE_SIMPLE)	14.21%	0.00%	12.78%	9.21%	8.16%	0.00%	8.98%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	14	13	42	7.27	9.65	21	43	13	7.10	13	29
NOPAT Margin	5.76%	5.14%	13.44%	2.86%	3.87%	7.94%	13.07%	4.74%	2.78%	4.64%	8.68%
Net Nonoperating Expense Percent (NNEP)	4.05%	1.90%	3.61%	1.60%	2.10%	1.84%	2.05%	1.39%	1.41%	1.55%	1.65%
Return On Investment Capital (ROIC_SIMPLE)	-	1.10%	-	-	-	1.80%	3.68%	1.10%	0.62%	1.15%	2.55%
Cost of Revenue to Revenue	59.35%	59.20%	53.70%	61.04%	60.78%	34.47%	53.36%	58.82%	62.02%	58.01%	57.57%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	33.02%	33.83%	28.58%	34.10%	34.25%	55.52%	29.42%	35.01%	34.10%	35.52%	31.53%
Earnings before Interest and Taxes (EBIT)	19	17	55	12	12	26	56	16	9.90	18	37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	42	40	79	36	36	50	81	41	35	43	62
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.60	1.66	1.51	1.21	1.07	1.35	1.09	1.02	1.03	1.21	1.33
Price to Tangible Book Value (P/TBV)	3.92	4.08	3.45	2.71	2.36	2.86	2.15	1.98	2.01	2.30	2.41
Price to Revenue (P/Rev)	0.81	0.81	0.77	0.62	0.56	0.72	0.60	0.57	0.57	0.67	0.77
Price to Earnings (P/E)	11.26	11.80	11.81	13.12	13.12	14.59	12.10	10.61	10.84	14.36	21.77
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	8.88%	8.48%	8.47%	7.62%	7.62%	6.85%	8.26%	9.42%	9.23%	6.96%	4.59%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.36	1.36	1.11	1.04	1.23	1.05	1.01	1.02	1.15	1.24
Enterprise Value to Revenue (EV/Rev)	1.04	1.22	0.97	1.08	0.98	1.06	0.95	0.90	0.87	0.90	1.00
Enterprise Value to EBITDA (EV/EBITDA)	5.17	5.93	4.72	5.82	5.45	5.65	5.14	4.78	4.69	5.10	6.28
Enterprise Value to EBIT (EV/EBIT)	8.60	10.12	8.18	11.12	10.80	10.80	9.77	8.99	8.95	10.15	13.96
Enterprise Value to NOPAT (EV/NOPAT)	11.14	13.11	10.71	14.80	14.37	14.21	12.78	11.65	11.63	13.43	18.10
Enterprise Value to Operating Cash Flow (EV/OCF)	6.79	7.36	6.58	9.78	7.15	6.95	6.91	6.12	5.73	6.47	6.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	149.29	0.00	0.00	12.02	0.00	7.22	6.94	7.39	8.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.84	1.23	0.72	1.15	1.10	1.01	0.93	0.85	0.88	0.82	0.75
Long-Term Debt to Equity	0.68	1.09	0.58	1.01	0.96	0.86	0.77	0.72	0.76	0.71	0.65
Financial Leverage	0.32	0.73	0.34	0.63	0.65	0.73	0.53	0.74	0.68	0.53	0.51
Leverage Ratio	3.04	3.13	3.03	2.98	3.00	3.00	2.82	2.72	2.76	2.77	2.59
Compound Leverage Factor	1.61	1.44	2.56	0.74	0.73	1.95	2.44	1.43	0.60	1.73	2.13
Debt to Total Capital	45.59%	55.21%	41.77%	53.48%	52.39%	50.34%	48.08%	46.02%	46.78%	45.06%	42.75%
Short-Term Debt to Total Capital	8.73%	6.46%	8.01%	6.46%	6.54%	7.63%	7.90%	7.17%	6.51%	5.98%	5.39%
Long-Term Debt to Total Capital	36.85%	48.76%	33.77%	47.02%	45.85%	42.72%	40.18%	38.85%	40.27%	39.09%	37.36%
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	54.41%	44.79%	58.23%	46.52%	47.61%	49.66%	51.92%	53.98%	53.22%	54.94%	57.25%
Debt to EBITDA	2.09	2.94	1.77	3.19	3.18	2.85	2.76	2.51	2.60	2.58	2.73
Net Debt to EBITDA	1.17	1.99	0.99	2.47	2.36	1.84	1.91	1.77	1.63	1.29	1.41
Long-Term Debt to EBITDA	1.69	2.59	1.43	2.81	2.78	2.42	2.30	2.12	2.24	2.24	2.39
Debt to NOPAT	4.51	6.49	4.03	8.11	8.38	7.17	6.86	6.13	6.45	6.78	7.86
Net Debt to NOPAT	2.53	4.39	2.24	6.28	6.21	4.64	4.74	4.31	4.05	3.40	4.06
Long-Term Debt to NOPAT	3.64	5.73	3.25	7.13	7.33	6.09	5.73	5.17	5.55	5.88	6.87
Altman Z-Score	1.14	1.11	1.21	1.06	1.02	1.16	1.25	1.21	1.19	1.24	1.40
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	0.70	0.65	0.61	0.58	0.59	0.63	0.63	0.63	0.76	0.82	0.83
Quick Ratio	0.60	0.54	0.52	0.49	0.48	0.53	0.52	0.49	0.60	0.64	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-152	-135	-48	-289	-231	35	-190	65	63	75	104
Operating Cash Flow to CapEx	38.04%	950.51%	103.44%	95.52%	808.19%	1,919.84%	106.63%	342.04%	528.59%	192.59%	96.17%
Free Cash Flow to Firm to Interest Expense	-13.33	-11.86	-4.29	-26.10	-20.86	3.20	-19.69	7.03	6.88	8.46	11.78
Operating Cash Flow to Interest Expense	0.61	6.29	2.76	0.74	3.21	8.19	1.71	2.15	4.57	8.93	3.36
Operating Cash Flow Less CapEx to Interest Expense	-0.99	5.63	0.09	-0.03	2.81	7.76	0.11	1.52	3.70	4.29	-0.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.67	0.66	0.65	0.66	0.66	0.68	0.70	0.69	0.68	0.70
Accounts Receivable Turnover	27.68	28.64	29.24	29.63	26.30	29.29	28.27	27.54	25.16	25.32	24.18
Inventory Turnover	84.58	76.91	78.16	77.81	71.17	61.77	57.61	57.77	53.97	58.34	57.33
Fixed Asset Turnover	1.18	1.20	1.13	1.09	1.09	1.11	1.10	1.14	1.16	1.19	1.20
Accounts Payable Turnover	11.98	9.79	10.16	10.52	11.81	9.80	9.77	9.72	11.44	11.45	9.56
Days Sales Outstanding (DSO)	13.19	12.74	12.48	12.32	13.88	12.46	12.91	13.25	14.50	14.42	15.10
Days Inventory Outstanding (DIO)	4.32	4.75	4.67	4.69	5.13	5.91	6.34	6.32	6.76	6.26	6.37
Days Payable Outstanding (DPO)	30.48	37.28	35.93	34.69	30.90	37.23	37.35	37.54	31.90	31.87	38.19
Cash Conversion Cycle (CCC)	-12.98	-19.79	-18.77	-17.68	-11.89	-18.86	-18.10	-17.97	-10.63	-11.20	-16.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	763	944	757	1,033	1,003	929	989	981	947	882	914
Invested Capital Turnover	1.52	1.21	1.50	1.20	1.20	1.15	1.25	1.09	1.13	1.23	1.20
Increase / (Decrease) in Invested Capital	166	147	89	296	240	-15	232	-52	-56	-62	-75
Enterprise Value (EV)	1,075	1,281	1,033	1,147	1,043	1,146	1,041	993	967	1,016	1,134
Market Capitalization	831	852	817	661	592	772	655	625	630	759	879
Book Value per Share	$9.27	$9.50	$10.20	$10.39	$10.46	$10.77	$11.34	$11.52	$11.45	$11.86	$12.39
Tangible Book Value per Share	$3.79	$3.85	$4.46	$4.64	$4.75	$5.11	$5.72	$5.93	$5.88	$6.25	$6.86
Total Capital	954	1,149	929	1,176	1,161	1,149	1,161	1,136	1,147	1,138	1,152
Total Debt	435	634	388	629	608	578	558	523	536	513	492
Total Long-Term Debt	352	560	314	553	532	491	467	441	462	445	430
Net Debt	244	429	216	486	451	374	386	368	337	257	255
Capital Expenditures (CapEx)	18	7.52	30	8.53	4.38	4.72	15	5.80	7.94	41	31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-218	-278	-247	-220	-236	-273	-223	-206	-216	-271	-250
Debt-free Net Working Capital (DFNWC)	-27	-73	-74	-78	-79	-68	-50	-51	-17	-15	-12
Net Working Capital (NWC)	-111	-147	-149	-154	-155	-156	-142	-132	-92	-83	-74
Net Nonoperating Expense (NNE)	6.74	6.97	6.54	5.45	7.31	7.25	6.15	5.92	5.54	4.89	5.27
Net Nonoperating Obligations (NNO)	244	429	216	486	451	359	386	368	337	257	255
Total Depreciation and Amortization (D&A)	23	24	24	24	24	24	25	25	25	24	25
Debt-free, Cash-free Net Working Capital to Revenue	-21.18%	-26.47%	-23.11%	-20.75%	-22.25%	-25.35%	-20.42%	-18.69%	-19.54%	-24.01%	-21.97%
Debt-free Net Working Capital to Revenue	-2.64%	-6.96%	-6.95%	-7.33%	-7.44%	-6.33%	-4.60%	-4.63%	-1.53%	-1.32%	-1.08%
Net Working Capital to Revenue	-10.72%	-14.03%	-13.93%	-14.49%	-14.59%	-14.47%	-13.01%	-12.04%	-8.28%	-7.36%	-6.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.11	$0.67	$0.03	$0.04	$0.26	$0.68	$0.12	$0.03	$0.16	$0.45
Adjusted Weighted Average Basic Shares Outstanding	55.44M	55.51M	53.03M	52.69M	52.88M	52.91M	53.34M	53.22M	53.03M	53.12M	53.95M
Adjusted Diluted Earnings per Share	$0.13	$0.11	$0.64	$0.03	$0.04	$0.25	$0.66	$0.12	$0.03	$0.15	$0.43
Adjusted Weighted Average Diluted Shares Outstanding	58.60M	58.52M	55.40M	54.79M	54.78M	55.06M	55.51M	54.78M	54.68M	54.86M	56.37M
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	54.13M	53.29M	52.61M	52.81M	52.94M	53.16M	53.20M	53.32M	52.71M	53.22M	54.20M
Normalized Net Operating Profit after Tax (NOPAT)	14	13	42	7.27	9.65	21	44	13	7.11	13	37
Normalized NOPAT Margin	5.76%	5.14%	13.44%	2.86%	3.87%	7.94%	13.49%	4.76%	2.78%	4.64%	10.99%
Pre Tax Income Margin	4.05%	3.12%	14.95%	1.21%	1.20%	6.50%	14.74%	3.25%	0.85%	4.04%	8.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.67	1.46	4.97	1.12	1.12	2.36	5.79	1.76	1.08	2.06	4.17
NOPAT to Interest Expense	1.26	1.11	3.77	0.66	0.87	1.87	4.44	1.36	0.77	1.47	3.32
EBIT Less CapEx to Interest Expense	0.06	0.80	2.30	0.35	0.73	1.93	4.19	1.14	0.21	-2.58	0.68
NOPAT Less CapEx to Interest Expense	-0.35	0.45	1.09	-0.11	0.48	1.44	2.83	0.73	-0.09	-3.16	-0.17
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	108.51%	95.02%	94.36%	114.83%	55.48%	22.94%	19.66%	18.07%	35.55%	37.90%	24.80%

Financials Breakdown Chart

Key Financial Trends

Sun Country Airlines (SNCY) has shown a generally improving revenue trend and positive quarterly profitability over the last four years, with solid operating cash flow and a gradually strengthening equity base. Below are the key takeaways drawn from the quarterly statements provided for 2022 through 2025.

Revenue growth trend: Operating revenue has risen from about $227.2 million in Q4 2022 to $280.96 million in Q4 2025, indicating multi-year top-line momentum.
Bottom-line positivity in recent quarters: Net income attributable to common shareholders was positive in the latest quarters (e.g., $8.14 million in Q4 2025), after having shown positive results in prior periods (e.g., around $5.64 million in Q4 2023).
Robust operating cash flow: Net cash from operating activities was consistently positive across periods, with notable peaks (e.g., about $90.56 million in Q4 2024 and $78.91 million in Q4 2025), signaling solid cash generation from core operations.
Equity base strengthening: Total common equity has risen over the years, reaching roughly $603–$613 million in 2025 (e.g., Q1 2025: $603.0 million; Q2–Q3 2025: ~$610–$613 million), indicating an improving capitalization base.
Capital markets access and financing activity in 2025: The company engaged in debt issuance in 2025 (e.g., $54 million issuance in Q3 2025), reflecting access to capital to support operations and growth.
Cash balance and liquidity fluctuates: Cash and equivalents have shown notable swings across periods (e.g., higher balances in late 2024, with lower levels in mid-2025), suggesting timing effects from operating performance, investing, and financing activities.
Debt levels are variable: Long-term debt hovered in the roughly $200–$276 million range over 2025, with issuances and repayments causing quarter-to-quarter changes; interest expense remains a meaningful quarterly cost.
Investing and financing cash flow volatility: Net cash from investing and financing activities fluctuates by quarter, reflecting aggressive capex and financing strategies at times, which can affect near-term liquidity profiles.
Heavy investing cash outflows: Net cash from continuing investing activities was negative in several periods (for example, about $66.17 million in Q4 2025), highlighting ongoing capital expenditures and investments that pressure near-term liquidity.
Leverage and interest costs: Ongoing debt and interest costs (quarterly interest expense generally in the $9–11 million range) imply a meaningful financing burden, which could be a risk if demand or operating margins compress.

05/05/26 07:35 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Sun Country Airlines' Financials

When does Sun Country Airlines' fiscal year end?

According to the most recent income statement we have on file, Sun Country Airlines' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Sun Country Airlines' net income changed over the last 6 years?

Sun Country Airlines' net income appears to be on an upward trend, with a most recent value of $52.81 million in 2025, rising from $46.07 million in 2019. The previous period was $52.90 million in 2024. See Sun Country Airlines' forecast for analyst expectations on whatâ€™s next for the company.

What is Sun Country Airlines' operating income?

Sun Country Airlines' total operating income in 2025 was $100.57 million, based on the following breakdown:

Total Gross Profit: $475.93 million
Total Operating Expenses: $375.36 million

How has Sun Country Airlines' revenue changed over the last 6 years?

Over the last 6 years, Sun Country Airlines' total revenue changed from $701.38 million in 2019 to $1.13 billion in 2025, a change of 60.6%.

How much debt does Sun Country Airlines have?

Sun Country Airlines' total liabilities were at $1.06 billion at the end of 2025, a 0.4% decrease from 2024, and a 37.2% increase since 2020.

How much cash does Sun Country Airlines have?

In the past 5 years, Sun Country Airlines' cash and equivalents has ranged from $46.28 million in 2023 to $309.34 million in 2021, and is currently $144.68 million as of their latest financial filing in 2025.

How has Sun Country Airlines' book value per share changed over the last 6 years?

Over the last 6 years, Sun Country Airlines' book value per share changed from 0.00 in 2019 to 11.86 in 2025, a change of 1,185.9%.

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Financial statements for NASDAQ:SNCY last updated on 5/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Sun Country Airlines (SNCY) Financials

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Sun Country Airlines (SNCY) Financials

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