Spirit Airlines Inc
Spirit Airlines, Inc. provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc… Read more
Spirit Airlines Inc (SAVE) - Net Assets
Latest net assets as of June 2024: $809.66 Million USD
Based on the latest financial reports, Spirit Airlines Inc (SAVE) has net assets worth $809.66 Million USD as of June 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($9.56 Billion) and total liabilities ($8.75 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $809.66 Million |
| % of Total Assets | 8.47% |
| Annual Growth Rate | N/A |
| 5-Year Change | -49.84% |
| 10-Year Change | 13.09% |
| Growth Volatility | 19.81 |
Spirit Airlines Inc - Net Assets Trend (2008–2023)
This chart illustrates how Spirit Airlines Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Spirit Airlines Inc (2008–2023)
The table below shows the annual net assets of Spirit Airlines Inc from 2008 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $1.13 Billion | -27.82% |
| 2022-12-31 | $1.57 Billion | -25.66% |
| 2021-12-31 | $2.11 Billion | -6.03% |
| 2020-12-31 | $2.25 Billion | -0.51% |
| 2019-12-31 | $2.26 Billion | +17.26% |
| 2018-12-31 | $1.93 Billion | +8.52% |
| 2017-12-31 | $1.78 Billion | +27.43% |
| 2016-12-31 | $1.39 Billion | +13.82% |
| 2015-12-31 | $1.23 Billion | +22.16% |
| 2014-12-31 | $1.00 Billion | +30.42% |
| 2013-12-31 | $769.12 Million | +32.03% |
| 2012-12-31 | $582.53 Million | +24.82% |
| 2011-12-31 | $466.71 Million | +544.16% |
| 2010-12-31 | $-105.08 Million | +41.01% |
| 2009-12-31 | $-178.13 Million | +31.98% |
| 2008-12-31 | $-261.89 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Spirit Airlines Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 31868500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $56.76 Million | 5.00% |
| Common Stock | $11.00K | 0.00% |
| Other Comprehensive Income | $-67.00K | -0.01% |
| Other Components | $1.08 Billion | 95.00% |
| Total Equity | $1.13 Billion | 100.00% |
Spirit Airlines Inc Competitors by Market Cap
The table below lists competitors of Spirit Airlines Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chemcon Speciality Chemicals Limited
NSE:CHEMCON
|
$16.32 Million |
|
Lemonsoft Oyj
HE:LEMON
|
$16.33 Million |
|
Hove AS
CO:HOVE
|
$16.33 Million |
|
Aryt Industries Ltd
TA:ARYT
|
$16.34 Million |
|
Fathom Holdings Inc
NASDAQ:FTHM
|
$16.31 Million |
|
Marti Otel Isletmeleri AS
IS:MARTI
|
$16.31 Million |
|
Lian Fa International Dining Business Corp.
TWO:2756
|
$16.30 Million |
|
DRGEM Corporation
KQ:263690
|
$16.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Spirit Airlines Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 1,571,651,000 to 1,134,342,000, a change of -437,309,000 (-27.8%).
- Net loss of 447,464,000 reduced equity.
- Share repurchases of 2,637,000 reduced equity.
- Other comprehensive income increased equity by 529,000.
- Other factors increased equity by 12,263,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-447.46 Million | -39.45% |
| Share Repurchases | $2.64 Million | -0.23% |
| Other Comprehensive Income | $529.00K | +0.05% |
| Other Changes | $12.26 Million | +1.08% |
| Total Change | $- | -27.82% |
Book Value vs Market Value Analysis
This analysis compares Spirit Airlines Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.01x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | $-10.12 | $0.15 | x |
| 2009-12-31 | $-6.77 | $0.15 | x |
| 2010-12-31 | $-3.94 | $0.15 | x |
| 2011-12-31 | $8.72 | $0.15 | x |
| 2012-12-31 | $8.02 | $0.15 | x |
| 2013-12-31 | $10.54 | $0.15 | x |
| 2014-12-31 | $13.69 | $0.15 | x |
| 2015-12-31 | $16.92 | $0.15 | x |
| 2016-12-31 | $19.78 | $0.15 | x |
| 2017-12-31 | $25.61 | $0.15 | x |
| 2018-12-31 | $28.18 | $0.15 | x |
| 2019-12-31 | $32.98 | $0.15 | x |
| 2020-12-31 | $26.56 | $0.15 | x |
| 2021-12-31 | $20.13 | $0.15 | x |
| 2022-12-31 | $14.45 | $0.15 | x |
| 2023-12-31 | $10.39 | $0.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Spirit Airlines Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -39.45%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.34%
- • Asset Turnover: 0.57x
- • Equity Multiplier: 8.30x
- Recent ROE (-39.45%) is below the historical average (3.49%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | 0.00% | 4.22% | 3.28x | 0.00x | $59.45 Million |
| 2009 | 0.00% | 11.96% | 2.14x | 0.00x | $101.51 Million |
| 2010 | 0.00% | 9.28% | 1.64x | 0.00x | $82.99 Million |
| 2011 | 16.38% | 7.14% | 1.44x | 1.60x | $29.78 Million |
| 2012 | 18.62% | 8.23% | 1.43x | 1.58x | $50.21 Million |
| 2013 | 23.00% | 10.69% | 1.40x | 1.54x | $100.01 Million |
| 2014 | 22.48% | 11.67% | 1.20x | 1.60x | $125.16 Million |
| 2015 | 25.89% | 14.81% | 0.85x | 2.07x | $194.69 Million |
| 2016 | 18.99% | 11.41% | 0.74x | 2.26x | $125.42 Million |
| 2017 | 23.67% | 15.89% | 0.64x | 2.33x | $242.90 Million |
| 2018 | 8.08% | 4.69% | 0.64x | 2.68x | $-37.10 Million |
| 2019 | 14.83% | 8.75% | 0.54x | 3.11x | $109.12 Million |
| 2020 | -19.06% | -23.68% | 0.22x | 3.73x | $-653.67 Million |
| 2021 | -22.35% | -14.63% | 0.38x | 4.04x | $-683.97 Million |
| 2022 | -35.26% | -10.93% | 0.55x | 5.84x | $-711.32 Million |
| 2023 | -39.45% | -8.34% | 0.57x | 8.30x | $-560.90 Million |
Industry Comparison
This section compares Spirit Airlines Inc's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $84,221,809,251
- Average return on equity (ROE) among peers: 148.93%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Spirit Airlines Inc (SAVE) | $809.66 Million | 0.00% | 10.81x | $16.31 Million |
| American Airlines Group (AAL) | $-581.00 Million | 0.00% | 0.00x | $6.80 Billion |
| Air Canada (ACDVF) | $2.59 Billion | 24.86% | 11.05x | $2.83 Billion |
| Grupo Aeroméxico, S.A.B. de C.V. (AERO) | $-730.83 Million | 0.00% | 0.00x | $260.71 Million |
| Air France-KLM SA (AFRAF) | $-5.42 Billion | 0.00% | 0.00x | $1.02 Billion |
| Aegean Airlines S.A (AGZNF) | $277.88 Million | 24.44% | 1.61x | $461.90 Million |
| AirAsia Group Berhad (AIABF) | $935.30 Million | 1390.41% | 6.89x | $418.10 Million |
| Air China Limited (AICAF) | $49.50 Billion | 15.10% | 2.50x | $2.97 Billion |
| Allegiant Travel Company (ALGT) | $401.72 Million | 19.56% | 0.99x | $1.21 Billion |
| Alaska Air Group Inc (ALK) | $340.50 Million | 5.05% | 2.00x | $4.35 Billion |
| ANA Holdings Inc (ALNPF) | $794.90 Billion | 9.83% | 1.80x | $7.63 Billion |