JetBlue Airways Corporation (JBLU) financials

NASDAQ · Industrials · Airlines, Airports & Air Services · 19,647 employees · CEO Joanna L. Geraghty

Price: $2.85 -6.56%
Market cap: $1.08B
Enterprise value: $9.16B
Last report: Q3 '26 filed 2026-10-26
Next report: 2027-01-26 EPS est. -$0.62

Revenue (TTM)$9.99B+9.9% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)-6.1%-3.3 pp vs a year agoOperating income -$609M

Net income (TTM)-$1B-113.2% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)-$1.17B+13.5% vs a year agoCapex $947M

Diluted EPS (TTM)-$2.70-106.1% vs a year agoSum of the last 4 quarters

Net cash-$7.84B-15.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $1.08B
Revenue: $9.99B
Revenue growth: +16%
Profit margin: -10.0%
P/E: -1.1×
P/S: 0.1×
EV / EBITDA: 41.7×
Free cash flow: -$1.17B
Net income: -$1B
Revenue estimate: $10.5B
Earnings: 2027-01-26
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-26): revenue missed by 0.6%, EPS missed by 10.4%Revenue $2.81B vs $2.83B expected (-0.6%); EPS -$0.60 vs -$0.54 (-10.4%).
Revenue growth accelerating: 21.1% year on yearQ3 '26 revenue $2.81B, against an average of 4.0% over the four quarters before.
Operating margin -6.1% (TTM), -3.3 pp on a year agoOperating income grew -141.7% while revenue grew 9.9%.
Capex 9.5% of revenue (a year ago 13.1%)$947M invested in the last 4 quarters (-20.7% on a year earlier). Free cash flow -$1.17B.
Diluted share count up 3.7% in a year377M diluted shares in Q3 '26, 364M a year earlier.
Net debt $7.84BCash + short-term investments $1.51B, debt incl. leases $9.35B; a year ago net debt $6.8B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$2.81B	$2.32B	+21.1%
Gross margin	20.5%	45.1%	-24.6 pp
Operating income	-$144M	-$100M	-44.0%
Operating margin	-5.1%	-4.3%	-0.8 pp
Net income	-$257M	-$143M	-79.7%
Diluted EPS	-$0.68	-$0.39	-74.4%
Operating cash flow	-$238M	-$142M	-67.6%
Capex	$227M	$281M	-19.2%
Free cash flow	-$465M	-$423M	-9.9%
R&D	$0	$0	–
Stock-based compensation	$7M	$10M	-30.0%

Reported vs consensus

2026-10-26

	Actual	Consensus	vs consensus
Revenue	$2.81B	$2.83B	-0.6%
EPS (as estimated)	-$0.60	-$0.54	-10.4%

From the report of 2026-10-26 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y	12 quarters
Passenger	$2.6B	+21.8%	92.5%	$9.19B	-12.0%
Product and Service, Other	$212M	+13.4%	7.5%	$805M	-7.2%

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
Domestic & Canada	$1.63B	+26.5%	57.8%	$6.13B	–
Caribbean and Latin America	$988M	+13.6%	35.1%	$3.33B	–
Atlantic	$199M	+19.2%	7.1%	$534M	–

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: -$224M
Capex: -$947M
Buybacks: -$8M
Dividends: $0
Acquisitions: $0
Net debt issued: -$285M
Stock-based compensation: $35M
Free cash flow: -$1.17B
Returned to shareholders / FCF: -0.7%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	-1.1×	–	–
EV / EBITDA	41.7×	15.6× 4 of 5 years	11.2× – 20.0×
EV / Sales	0.9×	0.9×	0.6× – 1.2×
Price / FCF	-0.9×	7.0× 1 of 5 years	7.0× – 7.0×
Price / Book	0.8×	0.8×	0.6× – 1.2×
FCF yield	-108.9%	-36.4%	-72.5% – 14.3%
Return on invested capital	-4.6%	-2.2%	-4.5% – -0.5%
Return on equity	-58.4%	-16.5%	-30.1% – -4.7%

Analysts

Consensus target $4.51 (+58.2%)
range $2.30 – $8.00 · rating Hold

Strong buy0

Buy7

Hold24

Sell6

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$10.5B	+16.1%	-$2.66	-60.2%	-1.1×	9
FY2027	$11.5B	+9.1%	-$1.21	+54.6%	-2.4×	10
FY2028	$12.1B	+5.7%	$0.31	+126.0%	9.1×	3
FY2029	$13.4B	+10.6%	$1.80	+474.0%	1.6×	1
FY2030	$14.4B	+7.3%	$2.27	+26.1%	1.3×	1

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 253 figures JetBlue Airways Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$633M	$589M	+7.5%	$655M	$619M	+5.8%
Accounts Receivable, Allowance for Credit Loss, Current	$3M	$6M	-50.0%	$6M	$6M	0.0%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$1M	$2M	-50.0%	-$1M	$2M	-150.0%
Additional Paid in Capital, Common Stock	$3.46B	$3.38B	+2.2%	$3.41B	$3.32B	+2.8%
Advertising Expense	–	–	–	$76M	$79M	-3.8%
Aircraft Maintenance, Materials, and Repairs	$204M	$210M	-2.9%	$791M	$628M	+26.0%
Aircraft Rental	$19M	$21M	-9.5%	$74M	$92M	-19.6%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8.1M	5.6M	+44.6%	7.4M	4.4M	+68.2%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$7M	$10M	-30.0%	$40M	$39M	+2.6%
Asset Retirement Obligations, Noncurrent	$3M2025-12-31	$10M	-70.0%	$3M	$10M	-70.0%
Assets	$16B	$16.6B	-3.8%	$16.6B	$16.8B	-1.6%
Assets Held-for-sale, Not Part of Disposal Group, Current	$165M	$125M	+32.0%	$138M	$33M	+318.2%
Assets, Current	$2.79B	$3.42B	-18.2%	$3.24B	$4.26B	-24.0%
Cash and Cash Equivalents, at Carrying Value	$1.26B	$2.41B	-47.8%	$1.95B	$1.92B	+1.3%
Cash and Cash Equivalents, Fair Value Disclosure	$891M	–	–	–	–	–
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$1.52B	$2.65B	-42.5%	$2.3B	$2.15B	+6.8%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$397M	$279M	-242.3%	$147M	$831M	-82.3%
Class of Warrant or Right, Exercise Price of Warrants or Rights	–	–	–	$9.502020-12-31	–	–
Class of Warrant or Right, Outstanding	–	–	–	85.5K2020-12-31	–	–
Common Stock, Capital Shares Reserved for Future Issuance	19.2M2025-12-31	40.7M	-52.8%	19.2M	40.7M	-52.8%
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	900M	900M	0.0%	900M	900M	0.0%
Common Stock, Shares, Issued	540M	525M	+2.9%	532M	513M	+3.7%
Common Stock, Shares, Outstanding	377M	364M	+3.6%	370M	353M	+4.8%
Common Stock, Value, Issued	$5M	$5M	0.0%	$5M	$5M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	-$257M	-$148M	-73.6%	-$605M	-$789M	+23.3%
Contract with Customer, Liability	$2.98B	$2.68B	+11.5%	$2.71B	$2.61B	+3.6%
Contract with Customer, Liability, Current	$1.93B	$1.65B	+16.5%	$1.67B	$1.57B	+6.2%
Contract with Customer, Liability, Noncurrent	$771M	$679M	+13.5%	$704M	$653M	+7.8%
Contract with Customer, Liability, Revenue Recognized	$100M	$100M	0.0%	$1.1B	$1.1B	0.0%
Costs and Expenses	$2.96B	$2.42B	+22.0%	$9.43B	$9.96B	-5.3%
Current Federal Tax Expense (Benefit)	–	–	–	$0	$0	–
Current Foreign Tax Expense (Benefit)	–	–	–	$8M	$8M	0.0%
Current Income Tax Expense (Benefit)	–	–	–	$11M	$8M	+37.5%
Current State and Local Tax Expense (Benefit)	–	–	–	$3M	$0	–
Debt and Lease Obligation	$8.45B	$8.54B	-1.1%	$8.56B	$8.62B	-0.7%
Debt Securities, Available-for-sale	$76M	$152M	-50.0%	$67M	$1.62B	-95.9%
Debt Securities, Available-for-sale, Gain (Loss)	$7M2025-09-30	$1M	+600.0%	–	–	–
Debt Securities, Held-to-maturity	$292M	$331M	-11.8%	$464M	$404M	+14.9%
Debt Securities, Held-to-maturity, Transfer, Unrealized Gain (Loss)	-$1M	$0	–	–	–	–
Debt Securities, Realized Gain (Loss)	–	–	–	$15M	$1M	+1,400.0%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	-$158M	-$93M	-69.9%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	$0	$11M	-100.0%
Deferred Income Tax Expense (Benefit)	-$12M	-$58M	+79.3%	-$183M	-$110M	-66.4%
Deferred Income Tax Liabilities, Net	$386M	$486M	-20.6%	$447M	$633M	-29.4%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$25M	-$28M	+10.7%
Deferred Tax Asset, Interest Carryforward	$181M2025-12-31	$110M	+64.5%	$181M	$110M	+64.5%
Deferred Tax Assets, Capital Loss Carryforwards	$110M2025-12-31	$125M	-12.0%	$110M	$125M	-12.0%
Deferred Tax Assets, Deferred Income	$262M2025-12-31	$242M	+8.3%	$262M	$242M	+8.3%
Deferred Tax Assets, Gross	$2.19B2025-12-31	$1.93B	+13.4%	$2.19B	$1.93B	+13.4%
Deferred Tax Assets, in Process Research and Development	$38M2025-12-31	$34M	+11.8%	$38M	$34M	+11.8%
Deferred Tax Assets, Net of Valuation Allowance	$2.06B2025-12-31	$1.69B	+21.4%	$2.06B	$1.69B	+21.4%
Deferred Tax Assets, Operating Loss Carryforwards	$1.22B2025-12-31	$1.08B	+12.6%	$1.22B	$1.08B	+12.6%
Deferred Tax Assets, Other	$17M2025-12-31	$18M	-5.6%	$17M	$18M	-5.6%
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	$02025-12-31	$44M	-100.0%	$0	$44M	-100.0%
Deferred Tax Assets, Tax Credit Carryforwards, Other	$14M2025-12-31	$13M	+7.7%	$14M	$13M	+7.7%
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits	$105M2025-12-31	$106M	-0.9%	$105M	$106M	-0.9%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent	$4M2025-12-31	$12M	-66.7%	$4M	$12M	-66.7%
Deferred Tax Assets, Valuation Allowance	$133M2025-12-31	$238M	-44.1%	$133M	$238M	-44.1%
Deferred Tax Liabilities, Gross	$2.5B2025-12-31	$2.33B	+7.6%	$2.5B	$2.33B	+7.6%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-02