Ratio Analysis of Republic Airways Holding Inc.

Current Ratio
Current Assets/Current Liabilities

Current Assets:
Cash and Cash Equivalents
Restricted Cash
Accounts Receiveables - net allowance for
doubtful debt
Inventories
Prepaid Expenses and other Current Assets
Asset Held for Sale
Deffered Income Taxes
Total Current Assets
Crrent Liabilities:
Current Portion of Long Term debt
Accounts Payable
Air Traffic Liability
Deferred frequent flyer revenue
Accrued Liabilities
Total Current Liabilities
CURRRENT RATIO
Percentage change from Last Quarter
Percentage Change from Last Year

Quick Ratio
Quick Ratio/Current Liabilities

Quick Assets:
Total Current Assets
less: Inventories
Total Quick Assets
Total Current Liabilities
QUICK RATIO
Percentage change from Last Quarter
Percentage Change from Last Year

Asset Turnover
Operating Revenue/Total Assets
Total Operating revenue
Total Assets
Total Asset Turnover Ratio
Percentage change from Last Quarter
Percentage Change from Last Year

Fixed Asset Turnover Ratio

Operating Revenue/Gross Fixed Asset
Total Operating revenue
Gross Fixed Assets
(Fixed Assets + Depreciation and
amortization)
Fixed Asset Turnover Ratio
Percentage change from Last Quarter
Percentage Change from Last Year

Debt Ratio
Total Liabilities/Total Assets
Total Liabilities
Total Assets
Debt Ratio

Return On Asset
Net Income/Total Assets
Net Income
Total Assets
Return on Assets

Percentage Change from Last Year

Return On Equity
Net Income/Shareholder's Equity
Net Income
Shareholder's Equity
Return on Equity
Percentage Change from Last Year

Return On Capital Employed

Operating Income/Capital Employed
Operating Income
Capital Employed (Total asset - Current
Liabilities)
Return on Capital Employed

Earning Per Share (EPS)

Earning available for common stockholders
Net Income/No.of shares outstanding (PAT or Net Income)
No: of Shares outstanding
Basic EPS

Diluted EPS
Net Income/(No.of shares
outstanding+Convertible securities)

Interest Coverage Ratio

Earning available for common stockholders

(PAT or Net Income)
No: of Shares Outstanding
Convertible Secuties:
Stock Option
Convertible Debt
Shares outstanding + Convertible securities
Diluted EPS

Operating Income/Interest
Operating Income
Interest
Interest Coverage Ratio

of Republic Airways Holding Inc. (RJET)

June 30, 2013
238.8
200.3

In Millions ($)
March 31, 2013 June 30, 2012
245.6
180.3
182.9
230.1

87.8
85.6
40.9
0
68.4
721.8

77
83.5
42.7
0
63.4
695.1

100.3
101
65
2
35.3
714

244.5
41.3
195.5
51.6
256.6
789.5

275.5
47.2
163.3
54.3
262.9
803.2

282.1
47.6
235.7
59
268.9
893.3

0.91

0.87

0.80

5.64%
14.38%

In Millions ($)
June 30, 2013
March 31, 2013
721.8
695.1
85.6
83.5
807.4
778.6
789.5
1.02
5.50%
12.09%

803.20
0.97

June 30, 2012

714
101
815
893.30
0.91

In Millions ($)
June 30, 2013
March 31, 2013
664.4
635.6
3698
0.18
4.74%
-4.01%

3705.30
0.17

June 30, 2012

728.1
3890.10
0.19

June 30, 2013

664.4

In Millions ($)
March 31, 2013
635.6

June 30, 2012

728.1

2511.2

2565.70

2885.30

0.26
6.80%
4.85%

0.25

0.25

In Millions ($)
June 30, 2013
March 31, 2013
3,154.50
3,188.40
3,698.00
3,705.30
0.85
0.86

June 30, 2012

3,415.00
3,890.10
0.88

In Millions ($)
June 30, 2013
March 31, 2013
24.6
0.3

June 30, 2012

20

3698
0.01

3705.30
0.00008

3890.10
0.01

29.39%

In Millions ($)
June 30, 2013
March 31, 2013
24.6
0.3
543.5
0.05
7.52%

516.90
0.00058

In Millions ($)
June 30, 2013
March 31, 2013
70.3
30.1

2908.5

2902.1

June 30, 2012

20
475.10
0.04

June 30, 2012

65.2

2996.8

0.02

0.01037

0.02

June 30, 2013

March 31, 2013

June 30, 2012

24,600,000
49,302,926
0.50

June 30, 2013

300,000
49,098,395
0.01

March 31, 2013

20,000,000
48,489,100
0.41

June 30, 2012

24,600,000
49,302,926

300,000
49,098,395

20,000,000
48,489,100

500,000
4,700,000
54,502,926
0.45

600,000

200,000
2,200,000
50,889,100
0.39

49,698,395
0.01

In Millions ($)

June 30, 2013

70.3

March 31, 2013

30.1

June 30, 2012

65.2

28.9

29.70

32.20

2.43

1.01

2.02

SkyWest, Inc.
SKYW: NASDAQ-GS$ 15.250.08
273,671$ 15.35
$ 14.98$ 16.32
$ 10.8113.62793,411,750Republic Airways Holdings, Inc.
RJET: NASDAQ-GS$ 11.67-0.58
594,275$ 12.21
$ 11.55$ 13.92
$ 4.419.57575,727,780Air Transport Services Group, Inc
ATSG: NASDAQ-GS$ 7.72-0.18
161,476$ 7.90
$ 7.70$ 8
$ 3.3812.66499,275,560
Read more: http://www.nasdaq.com/symbol/rjet/competitors#ixzz2jHNl4pCH

Current ratio
Quick Ratio
Average Collection Period
Asset TurnOver Ratio
Fixed Asset Turnover Ratio
Debt Ratio
Interest Coverage Ratio
Return on Asset
Return on Equity
Return on Capital Employed
EPS
Diluted EPS
P/E Ratio

Quarter to Quarter
Year on Year
June 30, March 31, % Change June 30, June 30,
2013
2013
2013
2012
0.91
0.87
5.64%
0.91
0.80
1.02
0.97
5.50%
1.02
0.91
#DIV/0!
0.00
0.18
0.17
4.74%
0.18
0.19
0.26
0.25
6.80%
0.26
0.25
0.85
0.86
-0.87%
0.85
0.88
2.43
1.01
140.02%
2.43
2.02
0.01
0.000081 8116.19%
0.01
0.01
0.05
0.00058 7698.68%
0.05
0.04
0.02 0.0103718
133.04%
0.02
0.02
0.50
0.01 8065.98%
0.50
0.41
0.45
0.01 7377.16%
0.45
0.39
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00
#DIV/0!
0.00

% Change
14.38%
12.09%
#DIV/0!
-4.01%
4.85%
-2.83%
20.13%
29.39%
7.52%
11.10%
20.97%
14.84%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

Comparative Income Statement across segments

Three Months Ended

Total

June 30, 2013

Fixed Fee services

Passenger service
Charter and others
Total Operating Revenues
Wages and Benefits
Aircraft Fuel
Landing fees and airport rents
Aircraft and engine rent
Maintenance and repair
Insurance and Taxes
Depreciation and amortization
Promotion and sales
Other
Total Operating Expenses
OPERATING INCOME
Total other non operating expenses, net
INCOME BEFORE INCOME TAXES

Republic

Frontier

In Million In Million
% of
In Miilions
($)
($)
total
($)
316.9
316.9 100.00%
308.2
13.8
4.48%
294.4
39.3
6.1 15.52%
33.2
664.4
336.8 50.69%
327.6
144.6
83.1 57.47%
61.5
126.3
12.1
9.58%
114.2
40.6
14.4 35.47%
26.2
64.1
30.8 48.05%
33.3
73.5
62 84.35%
11.5
10.5
6 57.14%
4.5
43.5
36.3 83.45%
7.2
22.3
0.7
3.14%
21.6
68.7
35.6 51.82%
33.1
594.1
281 47.30%
313.1
70.3
55.8 79.37%
14.5
28.9
28.1 97.23%
0.8
41.4
27.7 66.91%
13.7

Common Size Income Statement for Frontier

June 30, 2013

(Q2)
In Millions
($)
Fixed Fee services
Passenger service
Charter and others
Total Operating Revenues
Wages and Benefits
Aircraft Fuel
Landing fees and airport rents
Aircraft and engine rent
Maintenance and repair
Insurance and Taxes
Depreciation and amortization
Promotion and sales

March 31, 2013

(Q1)

% of
In Miilions
total
($)
Revenue

294.4
33.2
327.6 100.00%
61.5 18.26%
114.2 33.91%
26.2
7.78%
33.3
9.89%
11.5
3.41%
4.5
1.34%
7.2
2.14%
21.6
6.41%

272.3
38.6
310.9
63.2
118
25.5
32.1
20.4
3.4
6.7
20.9

Other
Total Operating Expenses
OPERATING INCOME
Total other non operating expenses, net
INCOME BEFORE INCOME TAXES

33.1
313.1
14.5
0.8
13.7

9.83%
92.96%
4.31%
0.24%
4.07%

39.7
329.9
-19
1.1
-20.1

Common Size Income Statement for Republic

Frontier

June 30, 2013

% of
total
0.00%
95.52%
84.48%
49.31%
42.53%
90.42%
64.53%
51.95%
15.65%
42.86%
16.55%
96.86%
48.18%
52.70%
20.63%
2.77%
33.09%

Fixed Fee services

Passenger service
Charter and others
Total Operating Revenues
Wages and Benefits
Aircraft Fuel
Landing fees and airport rents
Aircraft and engine rent
Maintenance and repair
Insurance and Taxes
Depreciation and amortization
Promotion and sales
Other
Total Operating Expenses
OPERATING INCOME
Total other non operating expenses, net
INCOME BEFORE INCOME TAXES

In Millions % of total
($)
Revenue
316.9
13.8
6.1
336.8
100.00%
83.1
24.67%
12.1
3.59%
14.4
4.28%
30.8
9.14%
62
18.41%
6
1.78%
36.3
10.78%
0.7
0.21%
35.6
10.57%
281
83.43%
55.8
16.57%
28.1
8.34%
27.7
8.22%

March 31, 2013

(Q1)

Change %
% of from Q1 to
total
Q2
Revenue

100.00%
19.29%
36.02%
7.78%
9.80%
6.23%
1.04%
2.05%
6.38%

8.12%
-13.99%
5.37%
-2.69%
-3.22%
2.75%
3.74%
-43.63%
32.35%
7.46%
3.35%

This segment was facing losses upto Q1 but, Company is being able to cut down
almost all major expenses in this segment. Major expenses that will object Income are
Wages and Benefits, Aircraft and engine rent and other. Overall operating Expenses
reduced by 5.09% from Q1 to Q2, and there has been a sustaintial increase in operating
revenue by 176.32% from Q1 to Q2 in Q2 and thus this segment showed a excellent
result by achieving Profits after a loss in previous quarter. . Thus, overall company is
doing better in this segment.

result by achieving Profits after a loss in previous quarter. . Thus, overall company is
doing better in this segment.

12.12%
100.70%
-5.80%
0.34%
-6.14%

-16.62%
-5.09%
176.32%
-27.27%
168.16%

or Republic

March 31, 2013

In Miilions
($)
304
15.2
5.5
324.7
83.5
13.6
16
28.8
54.7
6.1
37.6
0.8
34.5
275.6
49.1
28.5
20.6

g able to cut down

will object Income are
l operating Expenses
ial increase in operating
nt showed a excellent
us, overall company is

% of total
Revenue

100.00%
25.49%
4.15%
4.88%
8.79%
16.70%
1.86%
11.48%
0.24%
10.53%
84.13%
14.99%
8.70%
6.29%

Change
%
4.24%
-9.21%
10.91%
3.73%
-0.48%
-11.03%
-10.00%
6.94%
13.35%
-1.64%
-3.46%
-12.50%
3.19%
1.96%
13.65%
-1.40%
34.47%

Company is being able to cut down

almost all major expenses in this
segment. Major expenses that will object
Income are Wages and Benefits, Aircraft
and engine rent and other. Though overall
operating Expenses increased by 1.9%
from Q1 to Q2, the increase in operating
revenue by 3.73% in Q2 has helped the
company to achieve greater Operating
Income than previous Quarter. Thus,
overall company is doing better in this
segment as it has been able to achieve
34.47% growth in Income before Income
taxes.

us, overall company is