Republic Airways Holdings Inc. (RJET) intrinsic value & 10-year financials
Republic Airways Holdings Inc. (RJET) has a Graham intrinsic value of $55.82 per share. At $16.04 on Oct 17, 2026, the stock trades 71% below that value. Over the last 10 fiscal years revenue grew 9.7% a year to $1.3B, with an average return on invested capital of -0.2%.
- Graham intrinsic value
- $55.82
- Share price (Oct 17, 2026)
- $16.04
- Price vs Graham value
- 71% below
- Market cap
- $652.1M
- Revenue (FY2025)
- $1.3B
- Revenue growth (10-yr CAGR)
- 9.7%
- ROIC (10-yr avg)
- -0.2%
- Free cash flow (FY2025)
- -$74.9M
RJET 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.3B | $76.2M | $1.87 | -$74.9M | 12.5% | 9.3% |
| FY2024 | $476.4M | -$91.0M | -$2.21 | $13.9M | -13.8% | -14.9% |
| FY2023 | $498.1M | -$120.1M | -$3.04 | -$60.7M | -16.9% | -12.2% |
| FY2022 | $531.0M | -$182.7M | -$5.06 | -$27.5M | -35.7% | -17.8% |
| FY2021 | $503.6M | $16.6M | $0.43 | $115.7M | 12.5% | 5.2% |
| FY2020 | $545.1M | $27.5M | $0.78 | $148.0M | 14.7% | 6.2% |
| FY2019 | $723.4M | $47.6M | $1.36 | $26.3M | 16.7% | 8.8% |
| FY2018 | $681.6M | $33.3M | $1.32 | $950.0K | 10.7% | 7.3% |
| FY2017 | $643.6M | $32.8M | $1.40 | -$9.8M | 15.6% | 6.3% |
| FY2016 | $587.8M | $14.9M | $0.62 | -$385.6M | 9.7% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
REPUBLIC AIRWAYS HOLDINGS INC. is a consistent compounder, expanding top-line revenue at 9.6% annually over the past decade.
REPUBLIC AIRWAYS HOLDINGS INC. has historically struggled to out-earn its cost of capital, averaging just -0.2% ROIC.
REPUBLIC AIRWAYS HOLDINGS INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, REPUBLIC AIRWAYS HOLDINGS INC. is modeled at 13.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $55.82 per share.