Skywest Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Skywest Inc (SKYW) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Skywest Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 4,190M vs 190,421M combined for tracked competitors (2.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+5.3% annualized vs trailing 12 months), vs accelerating (+13.7%) for its tracked peer group.
- Growth: Skywest Inc generated 6.5% revenue growth year over year in Q2 2026, vs 17.8% for its tracked competitors combined.
- Profitability: Its 9.1% net margin compares with 4.3% for the peer group.
- Scale: Skywest Inc ranks #9 of 17 companies by market capitalization in the Airline industry, holding 2.2% of industry market cap.
- Peer revenue share: Skywest Inc accounted for 2.0% of combined revenue among its tracked peer group, down from 2.2% a year earlier.
- Peer differentiation: Revenue per employee of $0.32M compares with $0.49M for the peer group (0.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SKYW Sales vs. its Competitors, Q2 2026
Skywest Inc reported revenue growth of 6.52 % year on year in Q2 2026, below its competitors' combined revenue growth of 17.76 %.
With a net margin of 9.13 %, Skywest Inc achieved higher profitability than its competitors (4.33 %).
Skywest Inc generated 2.00 % of the combined sales of its peer group, down from 2.20 % a year earlier.
Skywest Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Skywest Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Skywest Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Skywest Inc's competitor groups requires a Commercial License.
For context: the Airline industry grew revenue 10.3% year over year, combined, vs 6.5% for Skywest Inc. Skywest Inc's share of combined industry revenue moved from 0.84% to 0.81%, a loss of 0.03 percentage points.
Skywest Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Skywest Inc | Yes | Yes | Yes | No |
| Competitors combined (11) | ||||
| High-Confidence Competitors (3) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SKYW Stock Performance relative to its Competitors
SKYW Stock Performance relative to High-Confidence Competitors
SKYW Stock Performance relative to Similar-Size Competitors
SKYW Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Delta Air Lines Inc | 282.9% | Outperformed |
| 2 | Southwest Airlines Co | 282.9% | Outperformed |
| 3 | Allegiant Travel Co | 282.9% | Outperformed |
| 4 | Latam Airlines Group S a | 282.9% | Outperformed |
| 5 | American Airlines Group Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Skywest Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Skywest Inc's Comment on Competition and Industry Peers
The principal competitive factors for code-share partner regional airlines are code-share agreement terms, customer service, aircraft types, fare pricing, flight schedules and markets and routes served. The principal competitive factors we experience with respect to our pro-rate flying include fare pricing, customer service, routes served, flight schedules, aircraft types and relationships with major partners.
The combined operations of SkyWest Airlines and ExpressJet represent the largest regional airline operations in the United States. However, many of the major and low-cost carriers are larger, and have greater financial and other resources than SkyWest Airlines and ExpressJet, individually or collectively. Additionally, regional carriers owned by major airlines, such as Endeavor, Envoy, PSA and Piedmont, may have access to greater resources, through their parent companies, than SkyWest Airlines and ExpressJet, and may have enhanced competitive advantages since they are subsidiaries of major airlines. Moreover, federal deregulation of the industry allows competitors to rapidly enter our markets and to quickly discount and restructure fares. The airline industry is particularly susceptible to price discounting because airlines incur only nominal costs to provide service to passengers occupying otherwise unsold seats.
Generally, the airline industry is highly sensitive to changes in general economic conditions, in large part due to the discretionary nature of a substantial percentage of both business and leisure travel. Many airlines have historically reported lower earnings or substantial losses during periods of economic recession, heavy fare discounting, high fuel costs and other disadvantageous environments. Economic downturns, combined with competitive pressures, have contributed to a number of reorganizations, bankruptcies, liquidations and business combinations among major and regional carriers. The effect of economic downturns may be somewhat mitigated by the predominantly contract-based flying arrangements of SkyWest Airlines and ExpressJet. In addition, if Delta or United, or any of our other code-share partners, experience a prolonged decline in passenger load or are negatively affected by low ticket prices or high fuel prices, they will likely seek to renegotiate their code-share agreements with SkyWest Airlines and ExpressJet, as applicable, or materially reduce scheduled flights in order to reduce their costs. In addition, adverse weather conditions can negatively impact our operations and financial condition.
Publicly Traded Peers of Skywest Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Skywest Inc | 3,990.22 | 4,190.45 |
| Delta Air Lines Inc | 55,291.74 | 68,287.00 |
| United Airlines Holdings Inc | 36,419.17 | 62,901.00 |
| Latam Airlines Group S a | 30,349.06 | 14,265.06 |
| Southwest Airlines Co | 20,844.04 | 30,072.00 |
| American Airlines Group Inc | 8,939.17 | 55,994.00 |
| SUBTOTAL | 164,575.73 | 269,783.97 |
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Sources: Skywest Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Skywest Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Skywest Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Republic Airways Holdings Inc. | Named by the company | 85% |
| Endeavor Air, Inc. | Named by the company | 85% |
| Piedmont Airlines | Named by the company | 85% |
| MESA | Named by the company | 85% |
| Horizon Air Industries, Inc. | Named by the company | 85% |
| Envoy Air Inc. | Named by the company | 85% |
| PSA Airlines, Inc. | Named by the company | 85% |
| Air Wisconsin Airlines Corporation | Named by the company | 85% |
| Mesa Air Group, Inc. | Named by the company | 85% |
| GoJet Airlines, LLC | Named by the company | 85% |
| Alaska Air Group Inc | Named by the company | 85% |
| Air Industries Group | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Skywest Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Skywest Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Skywest Inc | Sky West Airlines 84.41 % |
| Delta Air Lines Inc | Airline 89.42 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Skywest Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Skywest Inc | 3,990 | 319,370 | 31,240 |
| Delta Air Lines Inc | 55,292 | 662,981 | 38,350 |
| United Airlines Holdings Inc | 36,419 | 555,663 | 30,892 |
| Latam Airlines Group S a | 30,349 | 346,871 | 35,588 |
| Southwest Airlines Co | 20,844 | 413,134 | 11,499 |
| American Airlines Group Inc | 8,939 | 402,545 | 1,452 |
| PEERS TOTAL | 160,586 | 488,591 | 14,451 |
Skywest Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Jetblue Airways Corp | Domestic & Canada 61.51 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Skywest Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Skywest Inc's industry classification, broader than the peer set above. Market cap in millions of $.Skywest Inc ranks #9 of 15 companies by market capitalization in its industry, holding 2.16 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,778, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Delta Air Lines Inc | 55,292 | 29.87 % |
| 2 | United Airlines Holdings Inc | 36,419 | 19.67 % |
| 3 | Latam Airlines Group S a | 31,106 | 16.80 % |
| 4 | Southwest Airlines Co | 20,844 | 11.26 % |
| 5 | Ryanair Holdings Plc | 1,234 | 5.2% |
| 6 | American Airlines Group Inc | 1,234 | 5.2% |
| 7 | Copa Holdings S a | 1,234 | 5.2% |
| 8 | Alaska Air Group Inc | 1,234 | 5.2% |
| 9 | Skywest Inc | 3,990 | 2.16 % |
| 10 | Allegiant Travel Co | 1,234 | 5.2% |
Market cap and industry share for the rest of Skywest Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Skywest Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 4 | Southwest Airlines Co | 20,844 | 31.32 % |
| 5 | Ryanair Holdings Plc | 12,555 | -3.35 % |
| 6 | American Airlines Group Inc | 8,939 | 17.48 % |
| 7 | Copa Holdings S a | 5,273 | 12.13 % |
| 8 | Alaska Air Group Inc | 1,234 | 12.3% |
| 9 | Skywest Inc | 3,990 | -0.77 % |
| 10 | Allegiant Travel Co | 1,234 | 12.3% |
| 11 | Jetblue Airways Corp | 1,234 | 12.3% |
| 12 | Frontier Group Holdings Inc | 1,234 | 12.3% |
| 13 | Republic Airways Holdings Inc | 1,234 | 12.3% |
| 14 | Controladora Vuela Compania De Aviacion S a b De C v | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Skywest Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Skywest Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Airline industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (17 companies). See the full Airline industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 50.65 % (avg) | -50.7 pp |
| Operating Margin | 14.03 % | industry median | +10.1 pp |
| EBITDA Margin | 25.28 % | 6.44 % (avg) | +18.8 pp |
| Capital Intensity (Capex / Revenue) | 13.77 % | 7.67 % (avg) | +6.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Skywest Inc's Valuation vs Competitive Position
Valuation multiples vs the Airline industry average (17 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Airline industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 8.9x | 19.3x | -10.4x |
| EV / EBITDA | 5.6x | 7.6x | -2.0x |
| P/B | 1.3x | 3.5x | -2.2x |
| Return on Equity | 15.02 % | industry aggregate | 0.58 % |
| Return on Invested Capital | 7.79 % | 3.64 % (avg) | 4.15 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Skywest Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 0.54 % | -7.75 % | -28.43 % | 27.57 % | 10.74 % | -2.31 % | 20.18 % | 15.03 % |
| Operating Margin | 14.72 % | 17.24 % | 5.12 % | 10.17 % | 6.03 % | 3.55 % | 14.02 % | 15.22 % |
| Return on Invested Capital | 6.78 % | 6.62 % | 1.36 % | 3.39 % | 2.25 % | 1.48 % | 7.26 % | 8.60 % |
| P/E | 9.5x | 9.6x | - | 18.9x | 12.4x | 55.5x | 13.1x | 9.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Skywest Inc's Strategic Group Map
Every company in Skywest Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Skywest Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Skywest Inc's BCG Growth-Share Matrix
Relative market share (vs Skywest Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Skywest Inc falls in the Dog quadrant: relative market share of 0.07x vs its largest competitor, in an industry growing revenue 6.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Skywest Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,778 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 13.77 % vs industry average 7.67 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Skywest Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Skywest Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Skywest Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Skywest Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Skywest Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 10.1 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+5.3% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.07x).
Opportunities
- Trades at a lower P/E than the industry average (8.9x vs 19.3x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Skywest Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Skywest Inc | 0.05 | 0.64 | 0.93 |
| Delta Air Lines Inc | 0.15 | 0.41 | 0.73 |
| United Airlines Holdings Inc | 0.28 | 0.70 | 1.63 |
| Latam Airlines Group S a | 0.29 | 0.60 | - |
| Southwest Airlines Co | 0.28 | 0.49 | 0.68 |
| American Airlines Group Inc | 0.06 | 0.53 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Skywest Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Skywest Inc | Q2 2026 | +6.5 % | -16.3 % |
| Delta Air Lines Inc | Q2 2026 | +18.7 % | -24.7 % |
| United Airlines Holdings Inc | Q2 2026 | +16.0 % | -17.3 % |
| Latam Airlines Group S a | Q4 2025 | +11.2 % | +49.7 % |
| Southwest Airlines Co | Q2 2026 | +16.4 % | +9.4 % |
| American Airlines Group Inc | Q1 2026 | +10.8 % | - |
| PEERS TOTAL | +17.0 % | -39.2 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Skywest Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Skywest Inc | Q2 2026 | - | -17.8 % |
| Delta Air Lines Inc | Q2 2026 | +57.5 % | +20.6 % |
| United Airlines Holdings Inc | Q2 2026 | +68.0 % | +4.4 % |
| Latam Airlines Group S a | Q4 2025 | +5.6 % | +34.0 % |
| Southwest Airlines Co | Q2 2026 | +402.8 % | +23.9 % |
| American Airlines Group Inc | Q1 2026 | +11.2 % | -1.6 % |
Skywest Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Skywest Inc | 5.58% | 8.51% | 15.02% |
| Delta Air Lines Inc | 4.76% | 9.97% | 19.30% |
| United Airlines Holdings Inc | 4.39% | 8.29% | 22.50% |
| Latam Airlines Group S a | 8.30% | 14.15% | 109.45% |
| Southwest Airlines Co | 2.87% | 4.77% | 11.27% |
| American Airlines Group Inc | 0.32% | 0.57% | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Skywest Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Skywest Inc | 10.02 | 0.95 |
| Delta Air Lines Inc | 13.94 | 0.81 |
| United Airlines Holdings Inc | 10.44 | 0.58 |
| Latam Airlines Group S a | 20.60 | 2.13 |
| Southwest Airlines Co | 26.43 | 0.69 |
| American Airlines Group Inc | 43.85 | 0.16 |
| PEERS AVERAGE | 19.91 | 0.61 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.