Republic Airways Holdings Inc (RJET) Balance Sheet
RJET balance sheet, 2025
December 31, 2025 · U.S. dollars$3.28B assets = $1.95B liabilities + $1.33B equity
Both columns are drawn to the same scale: what RJET owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RJET financial health
Descriptive bands, not a rating. Fiscal 2025.
RJET balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.40B2016 | $3.28B2025 | +9.9%/yr | |
| Total liabilities | $1.21B2016 | $1.95B2025 | +5.5%/yr | |
| Shareholders’ equity | $189.2M2016 | $1.33B2025 | +24.2%/yr | |
| Cash & short-term investments | $41.2M2016 | $296.5M2025 | +24.5%/yr | |
| Total debt | $913.0M2016 | $1.23B2025 | +3.3%/yr | |
| Net cash (debt) | −$871.8M2016 | −$928.8M2025 | −$57.0M | |
| Working capital | −$87.9M2016 | −$33.6M2025 | +$54.3M | |
| Current ratio | 0.542016 | 0.942025 | +0.40 | |
| Debt / equity | 4.832016 | 0.922025 | −3.90 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RJET assets
RJET liabilities and equity
RJET debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RJET balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $296.5M | $302.0M | $342.2M | $61.0M | $123.9M | $102.8M | $72.5M | $127.1M | $60.3M | $41.2M |
| Cash & equivalents | $134.3M | $110.5M | $92.4M | $61.0M | $123.9M | $102.8M | $72.5M | $107.1M | $60.3M | $41.2M |
| Short-term investments | $162.2M | $191.5M | $249.8M | — | — | — | — | $19.9M | — | — |
| Receivables | $106.1M | $51.9M | $32.5M | $4.0M | $3.2M | $13.7M | $23.1M | $14.3M | $8.9M | $9.3M |
| Inventory | $88.5M | $63.0M | $59.2M | $26.7M | $24.5M | $23.0M | $21.3M | $15.7M | $15.1M | $12.2M |
| Other current assets | $49.6M | $36.4M | $45.8M | $6.6M | $6.9M | $14.8M | $38.8M | $39.0M | $59.7M | $41.3M |
| Total current assets | $540.7M | $453.3M | $479.7M | $98.3M | $158.4M | $154.3M | $155.7M | $196.0M | $144.0M | $103.9M |
| Property, plant & equipment (net) | $2.54B | $2.23B | $2.18B | $908.3M | $1.24B | $1.34B | $1.27B | $1.25B | $1.19B | $1.16B |
| Goodwill & intangible assets | $122.5M | $2.1M | $0 | $3.8M | $6.8M | $8.0M | $9.5M | $11.3M | $11.7M | $12.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $71.7M | $80.0M | $71.3M | $257.8M | $193.1M | $145.1M | $130.5M | $120.3M | $141.8M | $123.8M |
| Total assets | $3.28B | $2.77B | $2.73B | $1.27B | $1.60B | $1.64B | $1.57B | $1.58B | $1.49B | $1.40B |
| Liabilities | ||||||||||
| Accounts payable | $136.0M | $47.1M | $46.9M | $59.4M | $61.5M | $53.2M | $49.9M | $54.3M | $44.7M | $53.0M |
| Short-term debt | $218.5M | $273.1M | $254.4M | $114.5M | $144.4M | $233.2M | $165.9M | $155.2M | $140.5M | $109.9M |
| Deferred revenue | $4.5M | $16.8M | $17.8M | $385,000 | $6.3M | $9.4M | — | — | — | — |
| Total current liabilities | $574.3M | $489.1M | $456.1M | $214.5M | $258.2M | $353.3M | $256.7M | $251.4M | $218.2M | $191.8M |
| Long-term debt | $882.9M | $752.2M | $865.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $140.4M | $131.1M | $139.6M | — | — | — | — | — | — | — |
| Other long-term liabilities | $490.9M | $410.2M | $361.7M | $745.7M | $857.0M | $831.9M | $886.8M | $952.6M | $1.05B | $1.02B |
| Total liabilities | $1.95B | $1.65B | $1.68B | $960.2M | $1.12B | $1.19B | $1.14B | $1.20B | $1.27B | $1.21B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | $272.4M | $271.2M | $259.2M | $256.4M | $242.8M | $238.5M | $234.7M | $114.5M | $114.2M |
| Retained earnings (deficit) | $708.5M | $632.5M | $567.9M | $49.0M | $231.7M | $215.1M | $187.4M | $139.8M | $107.8M | $74.9M |
| Total shareholders' equity | $1.33B | $1.12B | $1.05B | $308.2M | $488.0M | $457.9M | $425.9M | $374.5M | $222.2M | $189.2M |
| Key figures | ||||||||||
| Total debt | $1.23B | $1.14B | $1.24B | $633.7M | $718.1M | $838.2M | $843.3M | $915.3M | $944.3M | $913.0M |
| Net cash (debt) | −$928.8M | −$840.9M | −$901.7M | −$572.7M | −$594.2M | −$735.3M | −$770.8M | −$788.3M | −$884.0M | −$871.8M |
| Working capital | −$33.6M | −$35.8M | $23.6M | −$116.1M | −$99.8M | −$199.0M | −$101.0M | −$55.4M | −$74.2M | −$87.9M |
| Tangible book value | $1.21B | $1.11B | $1.05B | $304.3M | $481.3M | $449.8M | $416.3M | $363.1M | $210.5M | $177.0M |
| Book value per share | $32.64 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 40.7M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.94 | 0.93 | 1.05 | 0.46 | 0.61 | 0.44 | 0.61 | 0.78 | 0.66 | 0.54 |
| Quick ratio | 0.70 | 0.72 | 0.82 | 0.30 | 0.49 | 0.33 | 0.37 | 0.56 | 0.32 | 0.26 |
| Debt / equity | 0.92 | 1.02 | 1.18 | 2.06 | 1.47 | 1.83 | 1.98 | 2.44 | 4.25 | 4.83 |
| Equity / assets | 40.5% | 40.3% | 38.4% | 24.3% | 30.4% | 27.9% | 27.1% | 23.7% | 14.9% | 13.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $299.8M | $295.6M | $319.9M | $41.8M | $45.5M | $273.5M | $43.0M | $18.6M | $24.7M | $21.5M | $19.2M | $36.1M |
| Cash & equivalents | $137.9M | $133.5M | $157.7M | $41.8M | $45.5M | $86.8M | $43.0M | $18.6M | $19.3M | $21.5M | $19.2M | $36.1M |
| Short-term investments | $161.9M | $162.1M | $162.2M | — | — | $186.7M | $191.5M | — | $5.4M | — | $249.8M | — |
| Receivables | $68.5M | $46.0M | $90.2M | $20.4M | $8.7M | $57.1M | $5.2M | $5.3M | $6.0M | $4.7M | $5.5M | $8.3M |
| Inventory | $99.1M | $95.3M | $88.5M | $16.6M | $16.2M | $64.2M | $29.2M | $28.3M | $30.7M | $29.5M | $28.8M | $29.2M |
| Other current assets | $67.7M | $49.6M | $42.1M | $35.9M | $63.0M | $39.3M | $83.3M | $9.1M | $23.6M | $42.8M | $96.7M | $65.0M |
| Total current assets | $535.1M | $486.5M | $540.7M | $114.6M | $133.4M | $434.1M | $160.7M | $61.3M | $84.9M | $98.4M | $150.3M | $138.6M |
| Property, plant & equipment (net) | $2.55B | $2.59B | $2.54B | $38.3M | $39.7M | $2.24B | $210.2M | $433.6M | $505.2M | $537.6M | $543.4M | $707.7M |
| Goodwill & intangible assets | $109.9M | $122.5M | $122.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $64.9M | $65.3M | $71.7M | $6.0M | $5.5M | $76.6M | $12.7M | $197.9M | $74.3M | $70.3M | $81.9M | $180.2M |
| Total assets | $3.26B | $3.27B | $3.28B | $158.9M | $178.6M | $2.75B | $383.6M | $692.7M | $664.4M | $706.3M | $775.6M | $1.03B |
| Liabilities | ||||||||||||
| Accounts payable | $111.6M | $116.2M | $136.0M | $57.5M | $50.1M | $54.0M | $60.9M | $72.1M | $64.4M | $57.3M | $54.5M | $59.0M |
| Short-term debt | $203.4M | $210.2M | $218.5M | $69.7M | $86.4M | $259.7M | $144.7M | $52.1M | $75.0M | $96.7M | $160.0M | $167.1M |
| Deferred revenue | $35.7M | $4.9M | $4.5M | $5.6M | $5.5M | $5.4M | $5.0M | $3.9M | $4.4M | $2.8M | $4.0M | $4.9M |
| Total current liabilities | $520.4M | $520.2M | $574.3M | $170.0M | $174.6M | $461.2M | $252.7M | $174.5M | $187.5M | $196.8M | $253.9M | $267.9M |
| Long-term debt | $875.7M | $909.2M | $0 | $0 | $0 | $732.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $133.3M | $136.8M | — | — | — | $127.4M | — | — | — | — | — | — |
| Other long-term liabilities | $474.0M | $483.9M | $1.37B | $41.6M | $45.3M | $416.8M | $132.2M | $408.0M | $342.0M | $354.8M | $379.1M | $558.5M |
| Total liabilities | $1.87B | $1.91B | $1.95B | $211.6M | $219.9M | $1.61B | $385.0M | $582.5M | $529.5M | $551.6M | $633.0M | $826.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | $273.3M | $273.2M | $272.9M | $272.7M | $272.4M | $272.1M | $272.0M | $271.6M | $271.2M |
| Retained earnings (deficit) | $763.2M | $735.4M | $708.5M | −$326.0M | −$314.5M | $659.6M | −$274.1M | −$162.1M | −$137.2M | −$117.3M | −$129.0M | −$71.1M |
| Total shareholders' equity | $1.39B | $1.35B | $1.33B | −$52.6M | −$41.3M | $1.14B | −$1.4M | $110.2M | $134.9M | $154.7M | $142.6M | $200.0M |
| Key figures | ||||||||||||
| Total debt | $1.19B | $1.24B | $1.23B | $103.1M | $121.5M | $1.11B | $235.0M | $318.8M | $369.1M | $403.1M | $483.2M | $539.9M |
| Net cash (debt) | −$894.7M | −$943.3M | −$905.4M | −$61.3M | −$76.0M | −$832.3M | −$192.0M | −$300.2M | −$344.4M | −$381.5M | −$464.0M | −$503.8M |
| Working capital | $14.7M | −$33.7M | −$33.6M | −$55.3M | −$41.2M | −$27.1M | −$92.0M | −$113.2M | −$102.6M | −$98.4M | −$103.6M | −$129.3M |
| Tangible book value | $1.28B | $1.23B | $1.21B | −$52.6M | −$41.3M | $1.14B | −$1.4M | $110.2M | $134.9M | $154.7M | $142.6M | $200.0M |
| Book value per share | $30.02 | $29.35 | $31.19 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 46.2M | 46.1M | 42.6M | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.03 | 0.94 | 0.94 | 0.67 | 0.76 | 0.94 | 0.64 | 0.35 | 0.45 | 0.50 | 0.59 | 0.52 |
| Quick ratio | 0.71 | 0.66 | 0.71 | 0.37 | 0.31 | 0.72 | 0.19 | 0.14 | 0.16 | 0.13 | 0.10 | 0.17 |
| Debt / equity | 0.86 | 0.92 | 0.92 | — | — | 0.97 | — | 2.89 | 2.74 | 2.61 | 3.39 | 2.70 |
| Equity / assets | 42.6% | 41.4% | 40.5% | −33.1% | −23.1% | 41.5% | −0.4% | 15.9% | 20.3% | 21.9% | 18.4% | 19.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
RJET financial position
At the end of fiscal 2025 (December 31, 2025), Republic Airways had total assets of $3.3 billion (up 18.4% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $1.3 billion. It held $296.5 million in cash and short-term investments against $1.2 billion of debt, net debt of $928.8 million. Its current ratio was 0.94. In the latest quarter (ended June 30, 2026) total assets were $3.3 billion and equity $1.4 billion.
Related: RJET income statement, RJET cash flow statement, RJET key metrics. See the RJET stock overview for the latest quote and news.
RJET balance sheet FAQ
What are Republic Airways's total assets?
Republic Airways reported total assets of $3.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.8 billion a year earlier.
How much debt does Republic Airways have?
Republic Airways had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.92.
How much cash does Republic Airways have?
Republic Airways held $296.5 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $928.8 million.
What is Republic Airways's book value?
Republic Airways's shareholders' equity (book value) was $1.3 billion at the end of fiscal 2025, or $32.64 per share.
What is Republic Airways's current ratio?
Republic Airways had current assets of $540.7 million and current liabilities of $574.3 million, a current ratio of 0.94 (current liabilities exceed current assets).
How much goodwill does Republic Airways have?
Republic Airways carried $122.5 million of goodwill and intangible assets, 3.7% of total assets, at the end of fiscal 2025.