Frontier Group Holdings, Inc. (ULCC) intrinsic value & 10-year financials
Frontier Group Holdings, Inc. (ULCC) has a Graham intrinsic value of $7.06 per share. At $4.72 on Oct 17, 2026, the stock trades 33% below that value. Over the last 8 fiscal years revenue grew 6.8% a year to $3.7B, with an average return on invested capital of 5.7%.
- Graham intrinsic value
- $7.06
- Share price (Oct 17, 2026)
- $4.72
- Price vs Graham value
- 33% below
- Market cap
- $1.1B
- Revenue (FY2025)
- $3.7B
- Revenue growth (8-yr CAGR)
- 6.8%
- ROIC (10-yr avg)
- 5.7%
- Free cash flow (FY2025)
- -$600.0M
ULCC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.7B | -$137.0M | -$0.60 | -$600.0M | -4.0% | -3.6% |
| FY2024 | $3.8B | $85.0M | $0.37 | -$158.0M | 1.5% | 1.8% |
| FY2023 | $3.6B | -$11.0M | -$0.05 | -$312.0M | -0.1% | -0.1% |
| FY2022 | $3.3B | -$37.0M | -$0.17 | -$119.0M | -1.4% | -1.8% |
| FY2021 | $2.1B | -$102.0M | -$0.48 | $189.0M | -5.7% | -4.0% |
| FY2020 | $1.2B | -$225.0M | -$1.13 | -$573.0M | -29.2% | -10.4% |
| FY2019 | $2.5B | $251.0M | $1.19 | $126.0M | 12.3% | 58.1% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Frontier Group Holdings, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Frontier Group Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just 5.7% ROIC.
Frontier Group Holdings, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Frontier Group Holdings, Inc. is modeled at 6.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.06 per share.