Sky Harbour Group (SKYH) AI Stock Analysis

• Market Cap: $630.51M
• Dividend Yield: N/A
• Average Volume (3M): 102.96K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.26
• Revenue Growth: 95.23%
• EPS Growth: 89.44%
• Country: US
• Employees: 84
• Sector: Real Estate
• Sector Strength: 53
• Industry: Aerospace & Defense
• EPS (TTM): -0.06
• Shares Outstanding: 33,918,465
• 10 Day Avg. Volume: 152,594
• 30 Day Avg. Volume: 102,956
• PEG Ratio: -0.09
• Price to Book (P/B): 2.95
• Price to Sales (P/S): 20.80
• P/FCF Ratio: -3.50
• Enterprise Value/Market Cap: 1.10
• Enterprise Value/Revenue: 28.63
• Enterprise Value/Gross Profit: 66.20
• Enterprise Value/Ebitda: 391.57
• 1Y Price Target: $17.33
• Price Target Upside: 108.80% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): <0.01
• Revenue Forecast (FY): $27.91M

• Rating: 46 Neutral
• Price Target: $8.50 ▲(2.41% Upside)

Sky Harbour Group's overall stock score reflects significant financial challenges, particularly in profitability and cash flow, which weigh heavily on the score. While the earnings call provided an optimistic outlook with strategic growth plans and nearing cash flow breakeven, the technical indicators suggest bearish momentum. The valuation remains unattractive due to negative earnings and no dividend yield.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for services and successful expansion efforts, enhancing long-term market position and financial stability.

Strategic Expansion

Expanding airport presence strengthens market reach and service accessibility, positioning the company for sustained growth in the private aviation sector.

Financing Developments

Securing favorable financing terms supports future project funding, enhancing financial flexibility and enabling continued infrastructure development.

Negative Factors

High Construction Costs

Rising construction costs may pressure margins, potentially impacting profitability despite offsetting rent increases, challenging financial performance.

Market Risk in Pre-Leasing

Pre-leasing risks could lead to financial mismatches if construction costs exceed projections, affecting long-term financial stability.

Delayed Achievements

Delays in project completion can disrupt revenue timelines and operational plans, potentially affecting growth projections and investor confidence.

Sky Harbour Group Business Overview & Revenue Model

Company Description

Sky Harbour Group (SKYH) is a leading developer and operator of purpose-built private aviation facilities across the United States. The company focuses on creating high-quality, modern FBO (Fixed Base Operator) services that cater to the needs of private and corporate aircraft owners. Sky Harbour Group is dedicated to enhancing the private aviation experience by offering premium services, including fuel sales, hangar space, concierge services, and maintenance support. With strategically located facilities, the company aims to provide unparalleled accessibility and convenience for its clientele in the growing private aviation sector.

How the Company Makes Money

Sky Harbour Group generates revenue primarily through several key streams: the sale of fuel to private aircraft, leasing hangar space to aircraft owners, and providing various FBO services such as maintenance and repair, ground handling, and concierge services. The company also benefits from a growing demand for private aviation, particularly in the wake of increased travel preferences for safety and convenience. Significant partnerships with aircraft manufacturers and private jet management companies enhance its market presence and customer base, contributing to consistent earnings. Additionally, the company's expansion into new markets and the addition of new facilities further bolster its revenue potential.

Sky Harbour Group Financial Statement Overview

Summary

Sky Harbour Group's financial performance is challenged by high leverage and negative profitability margins, despite strong revenue growth. The company faces significant cash flow issues, with negative operating and free cash flows, indicating financial instability.

Income Statement

Sky Harbour Group's income statement shows a mixed performance. The company has achieved a significant revenue growth rate of 16.55% TTM, indicating strong top-line expansion. However, profitability remains a concern with negative net profit margins and EBIT margins, suggesting ongoing operational challenges. The gross profit margin has improved to 53.56% TTM, which is a positive sign, but the negative EBITDA margin highlights issues with operational efficiency.

Balance Sheet

The balance sheet reflects high leverage with a debt-to-equity ratio of 2.94 TTM, which poses financial risk. The return on equity is negative, indicating that the company is not generating profits from shareholders' equity. The equity ratio stands at 20.63%, suggesting a moderate level of equity financing relative to total assets. Overall, the balance sheet shows financial instability due to high debt levels.

Cash Flow

Cash flow analysis reveals challenges with negative operating and free cash flows, indicating cash burn. The free cash flow to net income ratio is high at 3.94 TTM, suggesting that the company is generating cash relative to its net losses. However, the negative free cash flow growth rate of -19.74% TTM indicates deteriorating cash flow conditions. The operating cash flow to net income ratio is negative, highlighting inefficiencies in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	24.13M	14.76M	7.58M	1.84M	1.58M	685.60K
Gross Profit	10.43M	5.64M	407.00K	-3.90M	-3.46M	-1.26M
EBITDA	1.76M	-50.26M	-22.62M	-11.02M	-9.25M	-2.05M
Net Income	-4.30M	-45.23M	-16.18M	-3.18M	-13.61M	-2.54M
Balance Sheet
Total Assets	558.03M	556.56M	402.20M	331.20M	303.89M	140.24M
Cash, Cash Equivalents and Short-Term Investments	23.50M	42.44M	72.12M	27.07M	6.80M	1.12M
Total Debt	345.71M	322.95M	241.17M	215.74M	221.97M	57.49M
Total Liabilities	394.18M	396.74M	269.95M	232.83M	232.93M	22.92M
Stockholders Equity	116.76M	104.10M	69.16M	26.28M	70.96M	117.32M
Cash Flow
Free Cash Flow	-98.71M	-87.64M	-63.88M	-73.46M	-22.61M	-12.94M
Operating Cash Flow	-9.36M	-9.10M	-7.74M	-27.49M	-6.62M	-1.04M
Investing Cash Flow	-96.57M	-43.91M	-16.27M	-187.84M	-15.99M	-11.90M
Financing Cash Flow	68.23M	75.09M	54.87M	52.79M	226.47M	11.99M

Sky Harbour Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SKYH, the sentiment is Negative. The current price of 8.3 is below the 20-day moving average (MA) of 9.38, below the 50-day MA of 9.82, and below the 200-day MA of 10.47, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 41.48 is Neutral, neither overbought nor oversold. The STOCH value of 17.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SKYH.

Sky Harbour Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AIRO	47 Neutral	$246.36M	―	―	―	―	―
SKYH	46 Neutral	$630.51M	―	-5.40%	―	95.23%	89.44%
EH	44 Neutral	$1.02B	―	-30.69%	―	87.67%	18.33%
EVEX	43 Neutral	$1.30B	―	-115.63%	―	―	-33.69%
RDW	41 Neutral	$890.16M	―	-50.08%	―	-0.63%	-163.11%
EVTL	25 Underperform	$423.67M	―	―	―	―	―

Sky Harbour Group Corporate Events

Sky Harbour Group Reports Revenue Growth Amid Losses

Sky Harbour Group Corporation, an aviation infrastructure development company, specializes in developing, leasing, and managing general aviation hangars for business aircraft across the United States. In its latest earnings report for the quarter ended September 30, 2025, Sky Harbour Group Corporation reported a significant increase in total revenue, which rose to $7.3 million from $4.1 million in the same period last year, driven by both rental and fuel revenue. Despite the revenue growth, the company reported an operating loss of $7.7 million, reflecting increased expenses in campus operations, fuel, and ground leases. The company also saw a notable unrealized gain on warrants, contributing to a net income of $577,000 for the nine months ended September 30, 2025, compared to a loss of $37.7 million in the prior year. Looking ahead, Sky Harbour Group Corporation remains focused on expanding its hangar facilities and securing additional tenants to drive future revenue growth, while managing construction and operational costs effectively.

Sky Harbour Group Secures $200M Credit Agreement

On September 4, 2025, Sky Harbour Capital II LLC, a subsidiary of Sky Harbour Group Corporation, entered into a Credit Agreement with JPMorgan Chase Bank and other lenders for a term loan facility of up to $200 million, which may be increased to $300 million. The facility will fund the construction and operation of hangar projects, with loans secured by real estate, equity interests, and certain revenues. The agreement includes various covenants and prepayment conditions, impacting the company’s financial strategy and stakeholder obligations.

The most recent analyst rating on (SKYH) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Sky Harbour Group stock, see the SKYH Stock Forecast page.

Sky Harbour’s Earnings Call Highlights Robust Growth

The recent earnings call for Sky Harbour Group Corporation painted a picture of robust performance, marked by substantial revenue growth and enhanced cash flow. The introduction of a new bank debt facility and successful pre-leasing initiatives were notable achievements. However, these positive developments were slightly overshadowed by rising operating expenses and challenges associated with ground lease expenses.