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Frontier Airlines Valuation Multiples

Discover revenue and EBITDA valuation multiples for Frontier Airlines and similar public comparables like Bangkok Airways, Asia Aviation, and Aegean Airlines.

Frontier Airlines Overview

About Frontier Airlines

Frontier Group Holdings Inc is an ultra-low-cost carrier whose business is focused on Low Fares Done Right. The company owns a fleet of 120 Airbus single-aisle aircraft, consisting of 13 A320ceos, 82 A320neos, 21 A321ceos and 4 A321neos. The use of these aircraft, their seating configuration, weight-saving tactics, and baggage process have all contributed to the ability to continue to be the fuel-efficient of all the U.S. The Company is managed as a single business unit that provides air transportation for passengers. Majority of revenue is from Domestic flight follow by International.


Founded

2012

HQ

United States of America
Employees

7.9K+

Website

flyfrontier.com

Sectors

Airlines

Financials

LTM Revenue $3.9B

LTM EBITDA $115M

EV

$4.4B

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Frontier Airlines Financials

Frontier Airlines has a last 12-month revenue of $3.9B and a last 12-month EBITDA of $115M.

In the most recent fiscal year, Frontier Airlines achieved revenue of $3.8B and an EBITDA of $162M.

Frontier Airlines expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Frontier Airlines P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $3.6B $3.8B XXX XXX XXX
Gross Profit $282M $302M XXX XXX XXX
Gross Margin 8% 8% XXX XXX XXX
EBITDA $83.0M $162M XXX XXX XXX
EBITDA Margin 2% 4% XXX XXX XXX
Net Profit -$37.0M -$11.0M XXX XXX XXX
Net Margin -1% 0% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Frontier Airlines Stock Performance

As of April 15, 2025, Frontier Airlines's stock price is $3.

Frontier Airlines has current market cap of $719M, and EV of $4.4B.

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Frontier Airlines Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$4.4B $719M XXX XXX XXX XXX $0.23

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Frontier Airlines Valuation Multiples

As of April 15, 2025, Frontier Airlines has market cap of $719M and EV of $4.4B.

Frontier Airlines's trades at 1.2x LTM EV/Revenue multiple, and 38.6x LTM EBITDA.

Analysts estimate Frontier Airlines's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Frontier Airlines Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $4.4B XXX XXX XXX
EV/Revenue 1.2x XXX XXX XXX
EV/EBITDA 27.5x XXX XXX XXX
P/E 8.5x XXX XXX XXX
P/E/Growth 0.3x XXX XXX XXX
EV/FCF -28.1x XXX XXX XXX

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Frontier Airlines Valuation Multiples

Frontier Airlines's NTM/LTM revenue growth is 9%

Frontier Airlines's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $16K for the same period.

Over next 12 months, Frontier Airlines's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Frontier Airlines's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Frontier Airlines Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 5% XXX XXX XXX XXX
EBITDA Margin 4% XXX XXX XXX XXX
EBITDA Growth 95% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 14% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $16K XXX XXX XXX XXX
S&M Expenses to Revenue 5% XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 3% XXX XXX XXX XXX

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Frontier Airlines Public Comps

See public comps and valuation multiples for Airlines comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
flyExclusive XXX XXX XXX XXX XXX XXX
Qantas Airways XXX XXX XXX XXX XXX XXX
Aegean Airlines XXX XXX XXX XXX XXX XXX
Asia Aviation XXX XXX XXX XXX XXX XXX
Bangkok Airways XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Frontier Airlines M&A and Investment Activity

Frontier Airlines acquired  XXX companies to date.

Last acquisition by Frontier Airlines was  XXXXXXXX, XXXXX XXXXX XXXXXX . Frontier Airlines acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Frontier Airlines

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Frontier Airlines

When was Frontier Airlines founded? Frontier Airlines was founded in 2012.
Where is Frontier Airlines headquartered? Frontier Airlines is headquartered in United States of America.
How many employees does Frontier Airlines have? As of today, Frontier Airlines has 7.9K+ employees.
Who is the CEO of Frontier Airlines? Frontier Airlines's CEO is Mr. Barry L. Biffle.
Is Frontier Airlines publicy listed? Yes, Frontier Airlines is a public company listed on NAS.
What is the stock symbol of Frontier Airlines? Frontier Airlines trades under ULCC ticker.
When did Frontier Airlines go public? Frontier Airlines went public in 2021.
Who are competitors of Frontier Airlines? Similar companies to Frontier Airlines include e.g. flyExclusive, Qantas Airways, Aegean Airlines, Asia Aviation.
What is the current market cap of Frontier Airlines? Frontier Airlines's current market cap is $719M
What is the current revenue of Frontier Airlines? Frontier Airlines's last 12-month revenue is $3.9B.
What is the current EBITDA of Frontier Airlines? Frontier Airlines's last 12-month EBITDA is $115M.
What is the current EV/Revenue multiple of Frontier Airlines? Current revenue multiple of Frontier Airlines is 1.2x.
What is the current EV/EBITDA multiple of Frontier Airlines? Current EBITDA multiple of Frontier Airlines is 38.6x.
What is the current revenue growth of Frontier Airlines? Frontier Airlines revenue growth between 2023 and 2024 was 5%.
Is Frontier Airlines profitable? Yes, Frontier Airlines is EBITDA-positive (as of the last 12 months).

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