Controladora Vuela Compañía de Aviación, S.A.B. de C.V. ADR (VLRS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	-$1.35	-$1.11	+17.8%	—	$859M	—
Q1 26	-$0.69	-$0.62	+10.1%	—	$770M	—
Q4 25	$0.27	$0.04	-85.2%	—	$881.5M	—
Q3 25	-$0.08	$0.05	+162.5%	—	$784M	—
Q2 25	-$0.74	-$0.55	+25.7%	—	$693M	—
Q1 25	-$0.34	-$0.44	-29.4%	—	$678M	—
Q4 24	$0.46	$0.39	-15.2%	—	$834.9M	—
Q3 24	$0.22	$0.32	+45.5%	—	$813M	—
Q2 24	$0.04	$0.09	+125.0%	—	$726M	—
Q1 24	-$0.14	$0.29	+307.1%	—	$768M	—
Q4 23	$0.35	$0.96	+174.3%	—	$899M	—
Q3 23	$0.2	-$0.3	-250.0%	—	$848M	—
Q2 23	$0.21	$0.05	-76.2%	—	$782M	—
Q1 23	-$0.32	-$0.61	-90.6%	—	$731M	—
Q4 22	$0.15	$0.24	+60.0%	—	$820.2M	—
Q3 22	$0.57	$0.3	-47.4%	—	$769M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.91	—	—	$3B	—
FY24	—	$1.1	—	—	$3.1B	—
FY23	—	$0.07	—	—	$3.3B	—
FY22	—	-$0.26	—	—	$2.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$54.8M	$61.1M	$67.2M	$88.8M	$52M	$106.4M	$2.8B	$3.3B	$3.1B	$3B
YoY change	+7.62%	+11.4%	+10.1%	+32.1%	-41.4%	+104.7%	+2.6K%	+14.5%	-3.59%	-3.32%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	54.8M	61.1M	67.2M	88.8M	52M	106.4M	2.8B	3.3B	3.1B	3B
Cost of revenue	44.2M	51.5M	61.1M	71.9M	53.3M	79.9M	2.6B	2.8B	2.6B	2.9B
Gross profit	10.6M	9.5M	6.1M	16.8M	-1.3M	26.6M	245.5M	505.2M	515.5M	173.8M
Gross margin	19.3%	15.6%	9.06%	19%	-2.42%	24.9%	8.62%	15.5%	16.4%	5.72%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	5.3M	6.5M	6.1M	6.3M	6.6M	7.7M	206M	313.3M	282.5M	234.6M
Operating expenses	5.4M	6.6M	6.3M	6.4M	6.8M	7.8M	221.4M	294.3M	135.9M	75M
Operating income	5.2M	2.9M	-177.3K	10.4M	-8M	18.7M	24.1M	210.9M	379.6M	98.9M
Operating margin	9.44%	4.75%	-0.26%	11.7%	-15.5%	17.6%	0.85%	6.47%	12.1%	3.26%
Non-operating income, net	6.2M	1.8M	1.2M	4.4M	1.3M	-5.5M	23M	-22.9M	46.4M	48.4M
Pretax income	11.5M	1.3M	-3.2M	9.5M	-12.3M	6.6M	-132.4M	7.4M	182.7M	-118.2M
Income tax	3.4M	585.2K	-861.1K	2.8M	-3M	1.5M	-52.1M	-377K	56.3M	-14.4M
Net income	8.1M	686.4K	-2.3M	6.7M	-9.3M	5.1M	-80.2M	7.8M	126.4M	-103.9M
Net margin	14.8%	1.12%	-3.45%	7.59%	-17.8%	4.84%	-2.82%	0.24%	4.02%	-3.42%
EBITDA	6.7M	13M	11.4M	24.7M	5.6M	34.6M	454.1M	743.9M	1B	801.8M
EPS	1.68	-0.3	-0.35	1.38	-2.11	0.89	-0.26	0.07	1.1	-0.91
Diluted EPS	1.68	-0.3	-0.35	1.38	-2.11	0.89	-0.26	0.07	1.08	-0.91

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	848M	899M	768M	726M	813M	834.9M	678M	693M	784M	881.5M	770M	859M
Cost of revenue	732M	655.8M	637M	646M	651M	692.4M	684M	701M	707M	772.7M	772M	917M
Gross profit	116M	243.2M	131M	80M	162M	142.5M	-6M	-8M	77M	108.8M	-2M	-58M
Gross margin	13.7%	27.1%	17.1%	11%	19.9%	17.1%	-0.88%	-1.15%	9.82%	12.3%	-0.26%	-6.75%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	49M	191.3M	45M	32M	55M	149.5M	34M	37M	33M	131.6M	34M	46M
Operating expenses	77M	90.3M	27M	14M	36M	58.9M	4M	14M	9M	45M	19M	41M
Operating income	39M	152.9M	104M	66M	126M	83.6M	-10M	-22M	68M	63.9M	-21M	-99M
Operating margin	4.6%	17%	13.5%	9.09%	15.5%	10%	-1.47%	-3.17%	8.67%	7.25%	-2.73%	-11.5%
Non-operating income, net	-21M	7.1M	-7M	8M	14M	29.4M	2M	—	6M	39.4M	-2M	-15M
Pretax income	-34M	129.4M	47M	14M	80M	39.7M	-76M	-87M	9M	35.8M	-89M	-185M
Income tax	5M	17.6M	14M	4M	43M	-5.7M	-25M	-24M	3M	31.6M	-18M	-58M
Net income	-39M	111.8M	33M	10M	37M	45.4M	-51M	-63M	6M	4.1M	-71M	-127M
Net margin	-4.6%	12.4%	4.3%	1.38%	4.55%	5.43%	-7.52%	-9.09%	0.77%	0.47%	-9.22%	-14.8%
EBITDA	47M	164.6M	116M	78M	139M	94.2M	2M	-10M	79M	75.1M	-12M	-89M
EPS	-0.34	0.97	0.29	0.09	0.32	0.4	-4.5	-0.55	0.05	0.04	-6.2	-1.1
Diluted EPS	-0.34	0.96	0.29	0.09	0.32	0.39	-4.5	-0.55	0.05	0.04	-6.2	-1.1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.5B	811.5M	541.4M	1.1B	1.3B	—	974.8M	1.1B	856.2M	1B	777.1M
Enterprise value	1.5B	859M	630M	1.1B	1.4B	—	3.3B	3.8B	3.8B	4.1B	3.8B
Shares outstanding	101.2M	101.2M	101.2M	101.2M	102.2M	116.6M	116.6M	115.3M	115.1M	114.9M	114.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	187.4	1.2K	—	156.4	—	—	—	138.3	6.77	—	3.32
P/S	27.8	13.3	8.05	11.9	24.4	—	0.34	0.33	0.27	0.34	0.23
P/B	60.8	86.1	81.3	74.6	187.1	—	4.15	4.46	2.35	3.87	11.4
EV/EBITDA	226.8	66.3	55.4	46.4	242	—	7.16	5.17	3.71	5.13	18.5
EV/Sales	27.5	14.1	9.37	12.9	26.2	—	1.14	1.18	1.2	1.35	1.16
Earnings yield	0.53%	0.08%	—	0.64%	—	—	—	0.72%	14.8%	—	30.1%
FCF yield	-0.2%	1.02%	1.57%	1.44%	0.19%	—	26.6%	22.1%	57.1%	42.5%	55.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.03

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.3%	15.6%	9.06%	19%	-2.42%	24.9%	8.62%	15.5%	16.4%	5.72%	-6.75%
Operating margin	9.44%	4.75%	-0.26%	11.7%	-15.5%	17.6%	0.85%	6.47%	12.1%	3.26%	-11.5%
Net margin	14.8%	1.12%	-3.45%	7.59%	-17.8%	4.84%	-2.82%	0.24%	4.02%	-3.42%	-5.7%
ROE	32.5%	7.28%	-34.9%	47.7%	-136.8%	34%	-34.2%	3.22%	34.6%	-39.4%	-116.8%
ROA	16%	0.56%	-1.66%	4.17%	-5.61%	2.67%	-1.8%	0.15%	2.22%	-1.84%	0.12%
ROIC	30.6%	2.75%	-0.19%	7.1%	-7.86%	13.1%	0.96%	7.01%	7.98%	2.95%	0.38%
Return on tangible assets	16.1%	0.56%	-1.67%	4.19%	-5.64%	2.69%	-1.81%	0.15%	2.24%	-1.87%	-3.23%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.45	0.81	0.63	0.7	0.69	0.78	0.75	0.77	0.78	0.73	0.64
Quick ratio	1.42	0.79	0.61	0.68	0.67	0.77	0.74	0.76	0.77	0.72	0.64
Debt / equity	0.19	9.41	15.9	8.23	17.7	8.68	12.7	14.6	10.6	14.6	57.2
Debt / assets	0.09	0.72	0.76	0.72	0.73	0.68	0.67	0.69	0.68	0.68	0.66
Net debt / EBITDA	-1.97	3.66	7.79	3.63	16.9	2.77	5.01	3.72	2.87	3.85	57.3
Interest coverage	169.4	1.34	0.31	2.65	-1.14	2	0.31	1.03	1.63	0.62	0.26
Effective tax rate	29.5%	46%	0%	29.3%	0%	22.3%	0%	0%	30.8%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.54	0.6	0.66	0.88	0.51	0.91	24.4	28.3	27.3	26.4	28.7
EPS (basic)	1.68	-0.3	-0.35	1.38	-2.11	0.89	-0.26	0.07	1.1	-0.91	-0.91
EPS (diluted)	1.68	-0.3	-0.35	1.38	-2.11	0.89	-0.26	0.07	1.08	-0.91	-1.6
Book value per share	0.25	0.09	0.07	0.14	0.07	0.13	2.01	2.1	3.17	2.3	0.59
FCF per share	-0.03	0.08	0.08	0.15	0.02	0.24	2.23	2.07	4.25	3.78	5.78
Cash per share	0.18	0.41	0.17	0.26	0.24	0.3	6.05	6.74	8.21	6.67	7.17
Capex per share	0.04	0.06	0.05	0.06	0.04	0.07	2.96	4.16	5.07	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.24%	9.45%	7.28%	7.21%	7.16%	7.64%	12.1%	14.7%	18.6%	—	—
Capex / operating cash flow	32.4%	39.4%	33.8%	7.58%	-6.96%	12.9%	53.6%	58%	50.5%	—	—
Payout ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Dividend yield	0%	0%	0%	0%	0%	—	0%	0%	0%	0%	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$848M	$899M	$768M	$726M	$813M	$834.9M	$678M	$693M	$784M	$881.5M	$770M	$859M
YoY change	+10.3%	+9.61%	+5.06%	-7.16%	-4.13%	-7.13%	-11.7%	-4.55%	-3.57%	+5.59%	+13.6%	+24%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	17.8M	41.2M	17.5M	26.6M	24.5M	35.5M	705M	776.5M	945.2M	766.2M
Receivables	833.8K	874.5K	793.4K	1.9M	176.1K	2.5M	65.8M	73.5M	49.2M	63.2M
Inventory	569.4K	726.3K	731.7K	771.2K	676.5K	696.5K	15.8M	16.1M	16.6M	16.7M
Total current assets	27M	27.2M	22M	31M	34.9M	47.4M	1.1B	1.2B	1.4B	1.4B
Property, plant & equipment	11.7M	81.2M	101.2M	106M	89.8M	114.7M	2.7B	3.1B	3.5B	3.5B
Goodwill & intangibles	532.5K	938.1K	881.8K	855.2K	929.1K	1.2M	25.4M	32.4M	51.9M	76.5M
Total assets	50.9M	123M	139.6M	161.7M	165.4M	192.8M	4.5B	5.1B	5.7B	5.6B
Accounts payable	2M	2.7M	2.7M	4.1M	5.4M	5.2M	194.9M	233.9M	161.2M	187.5M
Short-term debt	2.5M	16.3M	15.2M	17.4M	19.5M	23.3M	447.8M	593M	674.8M	670.8M
Total current liabilities	18.6M	33.4M	34.7M	44.3M	50.8M	60.5M	1.4B	1.6B	1.8B	1.9B
Long-term debt	2.2M	72.4M	90.8M	98.8M	100.5M	108.2M	2.5B	3B	3.2B	3.2B
Total liabilities	25.8M	113.6M	133M	147.5M	158.6M	177.6M	4.2B	4.9B	5.3B	5.4B
Shareholders' equity	25M	9.4M	6.7M	14.1M	6.8M	15.1M	234.7M	242.6M	364.8M	263.8M
Total debt	4.7M	88.7M	106.1M	116.2M	120M	131.4M	3B	3.5B	3.9B	3.9B
Net debt	-11.9M	71.6M	91.6M	96.1M	95.5M	95.9M	2.3B	2.8B	3B	3.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	751.9M	776.5M	756.3M	764M	821.2M	945.2M	862M	788M	785.6M	766.2M	758.5M	817.1M
Receivables	278M	73.5M	295M	226M	171M	49.2M	212M	230M	207M	63.2M	250M	320M
Inventory	17M	16.1M	16M	16.2M	17.3M	16.6M	17M	16M	15.5M	16.7M	17M	21M
Total current assets	1.2B	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B	1.3B	1.4B	1.4B	1.4B	1.5B
Property, plant & equipment	3B	3.1B	3.3B	3.4B	3.4B	3.5B	3.5B	3.4B	3.5B	3.5B	3.5B	3.5B
Goodwill & intangibles	14M	32.4M	36M	42M	22M	51.9M	50M	52M	31M	76.5M	78M	41M
Total assets	5B	5.1B	5.4B	5.4B	5.5B	5.7B	5.7B	5.6B	5.7B	5.6B	5.7B	5.9B
Accounts payable	247M	233.9M	179M	209M	178M	161.2M	142M	179M	265M	187.5M	166M	255M
Short-term debt	531M	593M	635M	682M	686M	674.8M	636M	721M	749M	670.8M	754M	685M
Total current liabilities	1.7B	1.6B	1.7B	1.8B	1.8B	1.8B	1.8B	1.9B	2B	1.9B	2.1B	2.3B
Long-term debt	2.9B	3B	3B	3B	3B	3.2B	3.2B	3.1B	3.1B	3.2B	3.1B	3.2B
Total liabilities	4.9B	4.9B	5.1B	5.1B	5.2B	5.3B	5.4B	5.4B	5.4B	5.4B	5.4B	5.8B
Shareholders' equity	131M	242.6M	277M	286M	320M	364.8M	315M	254M	262M	263.8M	207M	68M
Total debt	3.4B	3.5B	3.7B	3.6B	3.7B	3.9B	3.8B	3.8B	3.9B	3.9B	3.8B	3.9B
Net debt	2.7B	2.8B	2.9B	2.9B	3B	3B	3B	3B	3.1B	3.1B	3.1B	3.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	11.5M	1.3M	-3.2M	9.5M	-12.3M	5.1M	-80.2M	7.8M	126.4M	-103.9M
Depreciation & amortization	1.3M	9.8M	11.2M	13.7M	13.5M	15.8M	417.9M	496.3M	593M	656.7M
Stock-based compensation	11.3K	21.6K	31.8K	82.4K	110.7K	-61.6K	709K	5.8M	5.2M	6.3M
Change in working capital	-183.2K	114K	2.2M	2.9M	7.7M	5.2M	178.6M	138.3M	131.9M	59.6M
Operating cash flow	12.3M	14.7M	14.5M	84.5M	-53.5M	63.2M	643.9M	827.6M	1.2B	749.8M
Capital expenditure	-4M	-5.8M	-4.9M	-6.4M	-3.7M	-8.1M	-345.2M	-479.7M	-583.1M	—
Investing cash flow	76.7K	-5.2M	-3.2M	-4.6M	128.3K	-6M	-123.9M	-451.7M	-454.9M	221.5M
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share repurchases	-39.8K	-24.9K	-141.1K	-192.5K	-218.2K	-211.2K	-5.2M	-4M	-5.1M	-4.7M
Financing cash flow	391.7K	-8.7M	-14.2M	-19.8M	-8.8M	-20.6M	-495.5M	-177.2M	-413.1M	-747.7M
Net change in cash	12.7M	729.8K	-2.9M	60.1M	-62.2M	36.6M	24.5M	198.7M	287.3M	223.6M
Free cash flow	-3M	8.3M	8.5M	15.2M	2.5M	28.5M	259.7M	238.7M	489.1M	434M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	—	205M	251.8M	251M	272M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Net change in cash	—	—	—	—	—	—	—	—	205M	251.8M	251M	272M
Free cash flow	145M	-274.3M	245M	304M	233M	-292.9M	157M	136M	205M	-64M	251M	272M

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement