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JetBlue Airways Corporation
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$1.5B
Market Cap
9.8
P/E
0.37
PEG
-3.9%
ROCE
-25.3%
ROE
4.44
D/E
-3.7%
OPM
-40.6%
% from 52W High
25
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for JBLU including FX impact
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📈 Price History
Ratio Health
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About

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A220, Airbus A320, Airbus A320 Restyled, Airbus A321, Airbus A321 with Mint, Airbus A321neo, Airbus A321neo with Mint, and Airbus A321neoLR with Mint aircraft. It also serves 100 destinations across the United States, the Caribbean, Latin America, Canada, and Europe. In addition, it operates airport lounges, as well as provides vacation services. JetBlue Airways Corporation was incorporated in 1998 and is based in Long Island City, New York.

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📈 Growth Pattern
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⭐ Superinvestors Holding JBLU
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 2.25M $9.9M 0.02% Mar 2026
Steve Cohen Point72 Asset Management 608.6K $2.7M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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🎙 Management Tone Mixed ↓ Deteriorating 4 quarters Full tone analysis in Intelligence →
📊 MIXED JetBlue faces 75% fuel hike, cuts capacity, targets 30-40% Q2 recapture.
Revenue & Profitability
JetBlue reported first-quarter 2026 operating margin of negative 10%, which would have been negative 5% excluding fuel impacts. RASM grew 6.5% year-over-year, and fuel price averaged $2.96 per gallon. For the second quarter, management expects RASM growth of 7%-11% and CASM ex-fuel growth of 3%-5%. No absolute revenue or net income figures were provided. The company raised $500 million in aircraft-secured debt and has an accordion to upsize to $750 million.
Outlook
Management sees strong demand across the booking curve, with improvement in both peak and trough periods and domestic RASM outperforming international. However, the Middle East conflict has caused a sharp fuel price spike, with second-quarter fuel expected to be 75% higher year-over-year. The company expects elevated fuel prices throughout 2026 and has suspended full-year guidance. Demand remains resilient despite fare increases, with air travel seen as a strong value relative to other goods.
Growth Drivers
Key growth drivers include the Fort Lauderdale focus city, where capacity grew 23% in Q1 with RASM up 5%, and the addition of new destinations like Cleveland. The Blue Sky partnership with United launched interline flight sales and will add reciprocal loyalty benefits in Q2. Loyalty program growth is driven by 45% higher card acquisitions and 19% cash remuneration growth. The upcoming domestic first-class product and second BlueHouse lounge in Boston are expected to accelerate premium revenue.
Balance Sheet & CapEx
First-quarter 2026 capital expenditures totaled $141 million, lower than guidance due to delivery timing. Second-quarter CapEx is expected to be approximately $275 million, with full-year 2026 CapEx of about $800 million. A220 deliveries were revised down to 12 aircraft from 14. The company reiterated that CapEx will remain below $1 billion annually through the end of the decade. Investments include new technology and AI for crew and operational planning.
Margins
First-quarter 2026 operating margin was negative 10% (negative 5% excluding fuel impact). CASM ex-fuel rose 6.6% in Q1, with 4 points from weather disruptions; underlying costs were up 2.5%, beating initial plans. For Q2, CASM ex-fuel is expected to increase 3%-5%, with a roughly 5-percentage-point spread between RASM and CASM ex-fuel—the best in years. Management expects CASM ex-fuel growth to moderate in the second half, with over 2 points less growth than the first half, and targets roughly flat unit costs on mid- to high-single-digit capacity growth in a normal fuel environment.
Key Risks
The primary risk flagged by management is the sharp and sustained increase in jet fuel prices due to the Middle East conflict, which caused suspension of full-year guidance. Other risks include the inability to fully recapture fuel costs (targeting 30-40% in Q2 and 100% by early 2027), potential demand elasticity if fares rise further, and the need to maintain adequate liquidity (17-20% of trailing revenue). Slot constraints at JFK limit capacity flexibility. Interest expense from debt raises is material.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-28
Q2 2026 saw 10.9% revenue growth, strong demand, and effective cost management, with Fort Lauderdale expansion and JetForward initiatives driving results. Full-year margin guidance improved, and 2028 EPS is targeted at $1/share, supported by premium product ramp-up and disciplined capital allocation.
Q1 2026 Q1 2026 2026-04-28
First quarter 2026 saw strong demand and RASM growth, but fuel price volatility led to suspended full-year guidance and aggressive cost and capacity actions. Liquidity remains strong, with JetForward and Blue Sky initiatives driving future value.
Q4 2025 Q4 2025 2026-01-27
Operational and customer satisfaction metrics improved in 2025, with JetForward delivering $305M incremental EBIT. 2026 guidance targets break-even or better margin, 3.5% capacity growth, and continued premium and loyalty expansion, supported by cost discipline and new product rollouts.
Q3 2025 Q3 2025 2025-10-28
Results exceeded guidance with improved margins and strong cost control, driven by premium segment growth, loyalty gains, and network expansion in Fort Lauderdale. JetForward remains on track for $290M incremental EBIT in 2025, with Blue Sky and premium initiatives set to drive further gains in 2026.
Q2 2025 Q2 2025 2025-07-29
Q2 2025 saw a modest operating profit, strong operational improvements, and $180M EBIT from JetForward. BlueSky partnership with United is set to add $50M EBIT by 2027, while improved fleet outlook enables low single-digit capacity growth from 2026.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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