Company name:
Spirit Airlines Inc
-
IPO SHARE PRICE:$12.00
-
IPO DATE:May 26, 2011
-
TICKER:SAVE
-
MAIN STOCK EXCHANGE:NASDAQ
-
CURRENT HQ LOCATION:2800 Executive Way Miramar Florida 33025
-
FISCAL YEAR END:December 31
-
INCORPORATION JURISDICTION:DE
-
ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
-
Investor Relations Webpage:Coming soon!
-
TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
Spirit Airlines Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Income Statement
(USD in thousand)
Selected Year:
31-Dec
2020
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
100%
97.5% —
Passenger revenue
2.5% —
Other revenue
Selected Year:
31-Dec
2020
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
128.1%
50.3% —
Salaries wages and benefits
23.8% —
Aircraft fuel
19.6% —
Other operating
15.4% —
Depreciation and amortization
13.9% —
Landing fees and other rents
10.8% —
Aircraft rent
6.1% —
Maintenance materials and repairs
4.7% —
Distribution
0.1% —
Gain or loss on sale of assets
-16.7% —
Special charges (credits)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aircraft fuel
|
615,581 | 939,324 | 993,478 | 431,000 | 431,000 | 414,388 | ||||||||
|
Aircraft rent
|
205,852 | 177,641 | 182,609 | 196,359 | 196,359 | 210,312 | ||||||||
|
Landing fees and other rents
|
180,655 | 214,677 | 256,275 | 251,028 | 251,028 | 268,132 | ||||||||
|
Distribution
|
113,472 | 137,001 | 153,770 | 85,059 | 85,059 | 88,328 | ||||||||
|
Maintenance materials and repairs
|
110,439 | 129,078 | 143,575 | 111,227 | 111,227 | 118,844 | ||||||||
|
Special charges (credits)
|
12,629 | 88,921 | 717 | (302,761) | (302,761) | (10,168) | ||||||||
|
Salaries wages and benefits
|
527,959 | 719,635 | 865,019 | 909,834 | 909,834 | 909,620 | ||||||||
|
Depreciation and amortization
|
140,152 | 176,727 | 225,264 | 278,588 | 278,588 | 288,532 | ||||||||
|
Gain or loss on sale of assets
|
4,168 | 9,580 | 17,350 | 2,264 | 2,264 | - | ||||||||
|
Other expenses
|
366 | 752 | 875 | - | - | - | ||||||||
|
Other operating
|
347,820 | 379,536 | 491,432 | 355,186 | 355,186 | 336,576 | ||||||||
|
Total operating expenses
|
$2,258,727 | $2,972,120 | $3,329,489 | $2,317,784 | $2,317,784 | $2,633,620 |
Selected Year:
31-Dec
2020
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
28.1%
28.1% —
Operating Income
Key metric that shows earnings potential of the company's business model
Selected Year:
31-Dec
2020
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
0.0%
0.0% —
Other expense or income
0.0% —
Special charges (credits) - non-operating
Selected Year:
31-Dec
2020
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
28.0%
28.0% —
EBIT
Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Year:
31-Dec
2020
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
4.4%
10.6% —
Income tax expense or benefit
0.9% —
Capitalized interest
0.3% —
Interest income
7.4% —
Interest expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Interest expense
|
57,302 | 83,777 | 101,350 | 134,520 | 134,520 | 197,660 | ||||||||
|
Capitalized interest
|
(13,793) | (9,841) | (12,471) | (15,995) | (15,995) | (18,260) | ||||||||
|
Interest income
|
(8,736) | (19,107) | (25,133) | (6,314) | (6,314) | (1,272) | ||||||||
|
Total other expense or income
|
35,139 | 145,938 | 64,621 | 112,422 | 112,422 | 178,476 | ||||||||
|
Income before income taxes
|
349,686 | 204,976 | 436,426 | (620,184) | (620,184) | (818,136) | ||||||||
|
Income tax expense or benefit
|
(65,836) | 49,227 | 101,171 | (191,484) | (191,484) | (188,920) |
Selected Year:
31-Dec
2020
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
23.7%
23.7% —
Net income (loss)
It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Selected Year:
31-Dec
2020
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)