Latest Ratios: P/E Ratio -1.9x · EV/EBITDA N/A · ROE N/A. (2021–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $156M | $112M | $75M | $92M | — | — |
| Enterprise Value | $370M | $326M | $359M | $393M | — | — |
| P/E Ratio → | -1.91 | — | — | — | — | — |
| P/S Ratio | 0.41 | 0.30 | 0.23 | 0.29 | — | — |
| P/B Ratio | — | — | — | 2.59 | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | 23.28 | 16.74 | — | 10.57 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.87 | 1.10 | 1.24 | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | 8.7% | 8.7% | 11.3% | 7.7% | 13.0% | 15.2% |
| Operating Margin | -13.3% | -13.3% | -25.3% | -11.8% | -3.8% | -1.3% |
| Net Profit Margin | -4.7% | -4.7% | -6.4% | -14.9% | 1.9% | 3.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | — | — | -178.2% | -113.2% | 4.7% | 3.8% |
| ROA | -3.6% | -3.6% | -4.0% | -9.2% | 1.7% | 3.6% |
| ROIC | -18.6% | -18.6% | -20.4% | -8.5% | -3.5% | — |
| ROCE | -24.1% | -24.1% | -30.5% | -11.4% | -4.2% | -1.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 8.85 | 6.34 | 0.00 |
| Debt / EBITDA | — | — | — | — | 27.80 | 0.00 |
| Net Debt / Equity | — | — | — | 8.52 | 5.85 | -0.00 |
| Net Debt / EBITDA | — | — | — | — | 25.66 | -0.02 |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -2.33 | -2.33 | -3.79 | -1.46 | 0.50 | 1.53 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.28 | 0.28 | 0.49 | 0.53 | 0.95 | 2.19 |
| Quick Ratio | 0.26 | 0.26 | 0.47 | 0.50 | 0.90 | 2.19 |
| Cash Ratio | 0.11 | 0.11 | 0.33 | 0.37 | 0.67 | 0.89 |
| Asset Turnover | — | 0.85 | 0.61 | 0.61 | 0.65 | 0.92 |
| Inventory Turnover | 67.72 | 67.72 | 51.29 | 56.62 | 47.44 | — |
| Days Sales Outstanding | — | 10.28 | 13.53 | 3.87 | 25.40 | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | 1.9% | 0.9% | — | 36.8% | — | — |
| Payout Ratio | — | — | — | — | 149.4% | 161.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.9% | 0.9% | 0.0% | 36.8% | — | — |
| Shares Outstanding | — | $27M | $24M | $17M | $28M | $28M |
Liquidity and solvency pressure
Based on reported figures, FLYX trades at a P/S multiple of 0.44, which, according to recent market data, suggests investors are pricing the company as a distressed transportation provider rather than a high-growth aviation platform, significantly discounting it relative to historical private aviation sector valuation multiples.
The negative P/E of -2.04 underscores the absence of earnings, leaving the market to rely on revenue-based multiples that appear to reflect skepticism regarding the company's path to profitability. This valuation suggests that the market is not currently assigning a premium to the company's vertical integration strategy, viewing the asset-heavy model as a liability in the current interest rate environment.
As reported in financial statements, the company's ROIC has remained consistently negative, hovering around -4.8% in 2026Q1, which indicates that the capital deployed into the fleet and Kinston MRO facility is currently failing to generate returns above the cost of capital, signaling a structural value-destroying trend.
The inability to achieve positive returns on invested capital suggests that the company's operational scale is insufficient to offset the high depreciation and maintenance costs inherent in its Cessna Citation fleet. Investors should monitor whether future MRO efficiency gains can eventually drive ROIC toward positive territory, though current trends suggest a long road to capital efficiency.
According to recent quarterly filings, the company's CCC has remained negative, reaching -21 days in 2026Q1, which, based on reported figures, appears to be driven by the reliance on customer prepayments rather than superior operational efficiency in managing inventory or accounts payable cycles.
While a negative CCC is often a sign of strength, here it reflects the 'float' model where customer deposits fund operations, creating a dependency on continuous new bookings. This reliance on deferred revenue as a working capital bridge warrants investigation, as it may obscure underlying inefficiencies in the core charter and MRO service delivery processes.
Based on the company's reported financials, the current ratio has deteriorated to 0.24 as of 2026Q1, which, compared to historical levels, indicates a precarious liquidity position that leaves the firm highly vulnerable to any sudden contraction in charter demand or unexpected spikes in operating costs.
The quick ratio of 0.22 further highlights the lack of liquid assets available to cover short-term obligations, suggesting that the company is operating with minimal margin for error. This liquidity profile implies that the firm may be forced to seek external financing or rely heavily on the timing of customer deposits to maintain its current operational tempo.
The most commonly misapplied ratio for this business model is the P/S multiple, which, as reported in financial statements, obscures the high capital intensity and negative unit economics that characterize the company's current operations, leading to a potentially misleading assessment of the firm's true enterprise value.
Investors should instead focus on the 'Net Change in Deferred Revenue' adjusted for operating cash flow to better understand the company's true cash-generating power. Relying on P/S ignores the fact that a significant portion of revenue is tied to prepaid credits that carry high service obligations, making the top-line figure a poor proxy for sustainable profitability.
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Quick answers to the most common questions about buying FLYX stock.
flyExclusive, Inc.'s current P/E ratio is -1.9x. This places it at the 50th percentile of its historical range.
Based on historical data, flyExclusive, Inc. is trading at a P/E of -1.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
flyExclusive, Inc.'s current dividend yield is 1.90%.
flyExclusive, Inc. has 8.7% gross margin and -13.3% operating margin.