Company Analysis

Frontier Group Holdings, Inc. (ULCC)

Nasdaq: ULCC · Air Transportation, Scheduled · Denver, CO · filing with the SEC since 2017
Grade3.1
◀ Past 4.4● Present 2.3▶ Future 2.9
1 est.

The grade of Frontier Group Holdings, Inc.

Nine metrics read from its own filings, by tense
Headline grade
3.1/10
◀ Past4.430% of the headline
● Present2.340% of the headline
▶ Future2.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
6.5/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 65th percentile among 17 sector filers · read for itself

From the record

Frontier Group Holdings, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.9/10

What has it actually done, year after year?

+6.8% a year over 7 filed years; profitable in 2 of 7.

weight 45% of this tense · 39th percentile among 14 sector filers · read for its customers

From the record

Frontier Group Holdings, Inc.'s 7 filed years say what it did: revenue went from $2.5 billion in fiscal 2019 to $3.7 billion in fiscal 2025, up 6.8% a year; it rose in 4 of 6 years; the deepest fall was 50% from fiscal 2019 to fiscal 2020; net income was positive in 2 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span6.8%top 39% of its family
  • the share of years revenue rosebottom 18% of its family
  • the share of filed years with a profitbottom 11% of its family
  • the deepest fall from a revenue peak50.2%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
2.3/10

How has it treated the people who own it?

SI estimate 2.3/10, confidence 35 of 100 (one part).

weight 22% of this tense · 23rd percentile among 16 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 23% of 16 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 16 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Frontier Group Holdings, Inc.'s shareholder treatment is put at 2.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 23% of 16 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.3/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
2.5/10

Is it financially healthy right now?

ROE -28%: lost 28¢ per shareholder dollar. Leverage 93%: owes 93¢ per asset dollar.

weight 33% of this tense · 25th percentile among 15 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Frontier Group Holdings, Inc. lost about 28 cents for every dollar of shareholders' money. Leverage: it owed about 93 cents per dollar of assets, and net share issuance: its share count grew 0.6% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 22% of its family
  • return on equitybottom 18% of its family
  • the share count against the year beforebottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
1.9/10

How strong is its position in its industry?

bottom 19% of 14 in its family; net margin -3.7%.

weight 45% of this tense · 19th percentile among 14 sector filers · read for its customers

From the record

Frontier Group Holdings, Inc.'s standing among 14 graded names in its industry family: revenue of $3.7 billion in fiscal 2025 ranks in the bottom 29% by size; a net margin of -3.7% ranks in the bottom 11%; revenue growth of 3.8% a year over the last 3 filed years ranks in the bottom 18% (its annual reports).

What it rests on

  • revenue against the family$3.72Bbottom 29% of its family
  • net margin-3.7%bottom 11% of its family
  • three-year revenue growth3.8%bottom 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.9/10

What are the people in charge doing?

bottom 29% of 10 in its family for leadership; chief executive since 2026.

weight 22% of this tense · 29th percentile among 10 sector filers · read for its shareholders

From the record

Frontier Group Holdings, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Dempsey, James G. (President & CEO, as filed), filing under that title since 2026-01-09, 10 months (bottom 5% of its family); the 22 officers and directors filing in the last fifteen months have been on the record a median of 5.6 years (top 50%); 12 officer or director changes were reported on Form 8-K since 2023-11-13, against the 22 people in charge now (bottom 32%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge12 in three years among 22 peoplebottom 32% of its family
  • the median years the people in charge have filed5.6 yearstop 50% of its family
  • the chief executive's years on the record10 monthsbottom 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

2.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.1/10

How much room does it have to grow?

bottom 41% of 14 in its family for room to expand.

weight 22% of this tense · 41st percentile among 14 sector filers · read for itself

From the record

Frontier Group Holdings, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $671 million against debt of $313 million leaves 5% of its assets as net cash, top 22% of its family; cash from operations less capital spending is -16.1% of revenue (bottom 4%) (its annual report).

What it rests on

  • cash less debt against assets5.0%top 22% of its family
  • cash from operations less capital spending against revenue-16.1%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
3.9/10

What could actually drive growth from here?

bottom 39% of 14 in its family for growth drivers.

weight 45% of this tense · 39th percentile among 14 sector filers · read for its customers

From the record

Frontier Group Holdings, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 3.8% a year over the last three filed years against 6.8% over all 7, slowing (bottom 25% of its family); the newest year grew -1.4% (bottom 11%); capital spending grew 22.3% a year (top 19%) (its annual reports). Frontier Group Holdings, Inc. reported 6 product lines in fiscal 2025: Aircraft Fare at $1.5 billion (40%), Passenger Service Fees at $947 million (25%), Passenger Baggage at $746 million (20%), and 3 more; 4 of 6 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-3.0 points a yearbottom 25% of its family
  • the newest year's revenue growth-1.4%bottom 11% of its family
  • three-year growth of capital spending22.3%top 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
0.8/10

Did its newest year beat what its own record pointed to?

bottom 8% of 14 in its family for expectations against reality.

weight 33% of this tense · 8th percentile among 14 sector filers · read for its shareholders

From the record

Frontier Group Holdings, Inc.'s newest year against its own record: revenue of $3.7 billion in fiscal 2025 came in 7.4% below the $4.0 billion its prior three years' pace pointed to (bottom 18% of its family); net income of $137 million against a prior three-year average of $12 million (bottom 4%); a net margin of -3.7% against 0.3% before (bottom 4%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-7.4%bottom 18% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 4% of its family
  • net margin against its prior average-4.0 pointsbottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ULCC · research, not advice