Latest Ratios: P/E Ratio -1.0x · EV/EBITDA 5.5x · ROE -33.1%. (2011–2025 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $102M | $856M | $1.1B | $975M | $2.1B | $1.3B | $1.1B | $541M | $812M | $1.5B |
| Enterprise Value | $4.1B | $3.2B | $3.8B | $3.9B | $3.2B | $4.1B | $3.2B | $2.9B | $429M | $635M | $1.3B |
| P/E Ratio → | -1.01 | — | 6.76 | 140.00 | — | 20.19 | — | 7.44 | — | — | 8.85 |
| P/S Ratio | 0.34 | 0.03 | 0.27 | 0.34 | 0.34 | 0.95 | 23.46 | 11.12 | 7.54 | 12.77 | 27.88 |
| P/B Ratio | 0.40 | 0.39 | 2.35 | 4.51 | 4.15 | 6.65 | 9.03 | 3.66 | 1.16 | 1.57 | 2.92 |
| P/FCF | 1.39 | 0.14 | 1.69 | 4.58 | 3.75 | 3.56 | 24.96 | 3.38 | — | — | — |
| P/OCF | 1.39 | 0.14 | 0.79 | 1.50 | 1.59 | 2.67 | 5.93 | 2.11 | 18.80 | 16.17 | 32.22 |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.05 | 1.22 | 1.19 | 1.14 | 1.86 | 60.10 | 30.39 | 5.97 | 9.99 | 23.40 |
| EV / EBITDA | 5.49 | 4.24 | 3.94 | 5.48 | 7.34 | 5.64 | 445.58 | 108.51 | 32.08 | 47.37 | 169.77 |
| EV / EBIT | 41.92 | 16.56 | 8.08 | 17.25 | 54.88 | 14.87 | — | 176.21 | 282.17 | 122.32 | 110.63 |
| EV / FCF | — | 4.27 | 7.56 | 16.24 | 12.50 | 6.93 | 63.94 | 9.24 | — | — | — |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 5.7% | 5.7% | 16.4% | 15.5% | 8.6% | 24.9% | -2.4% | 19.0% | 9.1% | 15.6% | 19.3% |
| Operating Margin | 3.3% | 3.3% | 12.1% | 6.5% | 0.8% | 18.0% | -12.4% | 12.5% | 2.0% | 5.0% | 11.5% |
| Net Profit Margin | -3.4% | -3.4% | 4.0% | 0.2% | -2.8% | 4.8% | -17.8% | 7.6% | -3.5% | 1.1% | 14.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -33.1% | -33.1% | 41.6% | 3.3% | -29.2% | 46.7% | -4.5% | 1.9% | -0.5% | 0.1% | 1.8% |
| ROA | -1.8% | -1.8% | 2.3% | 0.2% | -1.9% | 2.9% | -0.3% | 0.3% | -0.2% | 0.1% | 0.8% |
| ROIC | 2.2% | 2.2% | 8.9% | 5.7% | 0.8% | 13.5% | -0.2% | 0.7% | 0.3% | 0.8% | 2.0% |
| ROCE | 2.6% | 2.6% | 10.2% | 6.4% | 0.8% | 15.6% | -0.3% | 0.8% | 0.2% | 0.5% | 1.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 14.66 | 14.66 | 10.61 | 14.61 | 12.70 | 8.68 | 17.71 | 7.82 | 0.40 | 0.34 | 0.19 |
| Debt / EBITDA | 5.10 | 5.10 | 3.98 | 5.01 | 6.74 | 3.78 | 341.27 | 84.68 | 13.89 | 13.23 | 12.88 |
| Net Debt / Equity | — | 11.79 | 8.15 | 11.47 | 9.67 | 6.31 | 14.09 | 6.35 | -0.24 | -0.34 | -0.47 |
| Net Debt / EBITDA | 4.11 | 4.11 | 3.06 | 3.94 | 5.13 | 2.75 | 271.62 | 68.82 | -8.44 | -13.17 | -32.47 |
| Debt / FCF | — | 4.14 | 5.87 | 11.66 | 8.74 | 3.37 | 38.98 | 5.86 | — | — | — |
| Interest Coverage | 0.62 | 0.62 | 1.61 | 1.03 | 0.31 | 1.97 | -0.06 | 0.14 | 0.02 | 1.14 | 6.81 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.73 | 0.73 | 0.78 | 0.77 | 0.75 | 0.78 | 0.68 | 0.70 | 1.00 | 1.21 | 1.43 |
| Quick Ratio | 0.72 | 0.72 | 0.77 | 0.76 | 0.74 | 0.76 | 0.66 | 0.68 | 0.97 | 1.18 | 1.41 |
| Cash Ratio | 0.40 | 0.40 | 0.53 | 0.48 | 0.50 | 0.59 | 0.47 | 0.47 | 0.64 | 0.79 | 0.91 |
| Asset Turnover | — | 0.54 | 0.55 | 0.63 | 0.64 | 0.55 | 0.02 | 0.03 | 0.06 | 0.06 | 0.05 |
| Inventory Turnover | 168.45 | 168.45 | 157.90 | 170.86 | 117.17 | 71.58 | 3.95 | 4.82 | 4.32 | 3.57 | 3.74 |
| Days Sales Outstanding | — | 31.48 | 16.13 | 28.07 | 31.23 | 18.70 | 686.20 | 471.49 | 379.29 | 423.88 | 310.68 |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 14.8% | 0.7% | — | 5.0% | — | 13.4% | — | — | 11.3% |
| FCF Yield | 71.9% | 734.9% | 59.2% | 21.8% | 26.6% | 28.1% | 4.0% | 29.6% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.6% | 0.4% | 0.5% | 0.2% | 0.4% | 0.4% | 0.5% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.6% | 0.4% | 0.5% | 0.2% | 0.4% | 0.4% | 0.5% | 0.1% | 0.1% |
| Shares Outstanding | — | $11M | $115M | $117M | $117M | $117M | $102M | $101M | $101M | $101M | $101M |
Operational capacity and engine constraints
As reported in recent financial statements, VLRS trades at a P/S of 0.36 and a P/B of 0.41, suggesting that the market is heavily discounting the company's equity value due to persistent net losses and the ongoing challenges associated with its current fleet maintenance and debt profile.
The negative TTM P/E ratio underscores the current lack of profitability, rendering traditional earnings-based valuation metrics ineffective for assessing the company's intrinsic value. Investors appear to be pricing in a high degree of execution risk, as the forward EV/EBITDA of 3.21 implies a significant recovery in operational efficiency that may be difficult to achieve given the current capacity constraints.
Based on the company's quarterly filings, ROIC has trended downward from 4.3% in 2023Q4 to -0.5% in 2026Q1, reflecting a significant erosion in the firm's ability to generate returns on its invested capital amidst rising maintenance costs and operational disruptions within the Mexican domestic market.
The decline in ROIC suggests that the capital-intensive nature of the airline business is currently outpacing the company's ability to generate sufficient operating income. This trend warrants further investigation into whether the current fleet modernization strategy can deliver the intended cost efficiencies once the GTF engine maintenance cycle concludes.
According to recent financial statements, the cash conversion cycle has fluctuated from -5 days in 2023Q4 to 11 days in 2026Q1, indicating that the company's ability to leverage its supplier relationships and manage inventory is becoming increasingly strained compared to its historical performance over the last ten quarters.
While the asset turnover ratio remains low at 0.14, the shift in the cash conversion cycle suggests that the company is losing some of its working capital advantage. This may imply that the firm is facing tighter credit terms or is struggling to maintain the same level of efficiency in its ancillary revenue collection processes.
As indicated by the company's reported figures, the debt-to-equity ratio has surged to 18.46 in 2026Q1, highlighting a precarious leverage position that significantly limits the firm's financial flexibility and increases its sensitivity to interest rate volatility and currency fluctuations in the Mexican market.
The negative interest coverage ratio of -0.19 in 2026Q1 is particularly concerning, as it suggests that the company is currently unable to cover its interest expenses from operating income. This level of leverage appears unsustainable without a meaningful improvement in operating margins or a successful restructuring of its debt obligations.
Based on the company's financial structure, the use of traditional EBITDA is frequently misapplied by analysts, as it fails to account for the significant impact of aircraft lease payments which are central to the company's operational model and capital structure in the Mexican aviation sector.
Investors should prioritize EBITDAR over EBITDA to better normalize for the company's heavy reliance on operating leases, which otherwise obscures the true cash-generating capacity of the business. Relying on standard EBITDA metrics may lead to an overly optimistic assessment of the company's ability to service its debt and fund ongoing maintenance requirements.
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Quick answers to the most common questions about buying VLRS stock.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V.'s current P/E ratio is -1.0x. The historical average is 34.2x.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V.'s current EV/EBITDA is 5.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.2x.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V.'s return on equity (ROE) is -33.1%. The historical average is 2.1%.
Based on historical data, Controladora Vuela Compañía de Aviación, S.A.B. de C.V. is trading at a P/E of -1.0x. Compare with industry peers and growth rates for a complete picture.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. has 5.7% gross margin and 3.3% operating margin.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V.'s Debt/EBITDA ratio is 5.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.