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Jetblue Airways Corp (JBLU) stock

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NASDAQ: JBLU Nasdaq Passenger Airlines Next results ~January 26, 2027

D Fundamentals grade

Jetblue Airways Corp is a US-listed company in the passenger airlines industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.7

Forward price-to-sales vs peers

Base case. Range ~$3.7–$18. Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Jetblue Airways Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 6 selling2 purchases and 13 sales by directors and officers, last 12 monthsInsider trades
  • Funds208 adding, 154 cuttingOf 47 active managers that changed their stake, 27 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Jetblue Airways files

10-Q filed October 26: Jetblue Airways

Model value +32.5%

Revenue for the twelve months to September 2026 was $9.99bn, up 9.9% on a year earlier, faster than the 4.0% growth a quarter earlier. Free-cash-flow margin rose to -11.4% from -13.8% a year earlier. Operating margin narrowed to -6.1% from -2.8%. The diluted share count is up 4.7% on a year earlier, which dilutes existing holders. Our model value rises from $7.23 to $9.58 a share, against a share price of $3.00.

Source: 10-Q filed October 26, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 28: Jetblue Airways

Revenue for the twelve months to June 2026 reached $9.99bn, up 9.9% on a year earlier and faster than the 4.0% pace a quarter before. Free-cash-flow margin improved to -11.4% from -13.8%, though it remains negative. Operating margin moved the other way, narrowing to -6.1% from -2.8%. Existing holders face further dilution, with the diluted share count up 4.7% year on year. Taken together, these shifts lift the fundamentals grade from E to D. Our model value rises sharply, from $0.18 to $7.23 a share, against a current share price of $2.38.

10-Q on SEC EDGAR

Where Jetblue Airways stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $9.50bn, up 4.0% on a year earlier, faster than -0.5% a quarter earlier. Free-cash-flow margin rose to -11.4% from -12.5% a year earlier. Operating margin narrowed to -5.9% from -2.1%. The diluted share count is up 4.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 0 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $0.18 a share, against a share price of $2.38.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Jetblue Airways Corp's trailing-twelve-month revenue grew 9.9% year on year, with a free-cash-flow margin of -11.4%. Where it lags: long-term debt as % of assets of 52.6% ranks 13 of 14 passenger airlines companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 9.4% while net income fell 113.2%: a 123pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 5.9 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -6.1%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 3.3 points on a year ago.
  • Burning cash. Free cash flow was -11.4% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 4.7% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 69% and a beta of 2.4 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 52.6% ranks 13 of 14 passenger airlines companies we cover (median 26.9%).

Latest results: FY2026 Q3

Filed October 26, 2026
Earnings per share
-$0.60 against an average estimate of -$0.55: missed by 8.8%
Revenue
$2.81bn, up 21.1% on a year earlier
Share reaction
+7.2% in the first session after the results on October 26, 2026, against +1.3% for the S&P 500
Guidance given
available Seat Miles (ASMs) Year-Over-Year growth 3% to 4% (Estimated 4Q 2026); available Seat Miles (ASMs) Year-Over-Year growth 1.5% to 2.5% (Estimated FY 2026)
Next report
January 26, 2027; average EPS estimate -$0.66

Jetblue Airways' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+11.2%
  • 1 week+33.8%
  • 1 month-23.6%
  • This year-30.3%
  • 1 year-24.5%
  • 5 years-79.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10B
Operating margin
-6.1%
Net margin
-10.0%
EPS (TTM, diluted)
$-2.68

Growth

Revenue growth
+9.9%
Change in growth rate
+5.9 pts
Share count change
+4.7%

Cash

Free cash flow (TTM)
-$1.1B
FCF margin
-11.4%
Stock pay % of revenue
0.4%

Earnings

Last results
October 26, 2026
Next results (est.)
January 26, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Product
  2. Our research
  3. Our research
  4. Results
  5. Guidance
  6. Product

    JetBlue extends free first-class upgrades to all Mosaic members

    JetBlue Airways Corp said it will expand its TrueBlue loyalty programme from 1 February 2027. All Mosaic members and eligible Premier Cardholders will receive complimentary, space-available upgrades to BlueFirst. The company also introduced new perks, including status gifting and increased points for top-tier cardholders.

    Company releaseRead source ↗
  7. Product
  8. Announcement

    JetBlue opens bookings for new domestic first class

    JetBlue Airways Corp said BlueFirst, its new domestic first class, is now available for booking on more than 30 routes. The service begins on December 8, 2026, with daily flights between Boston and Fort Lauderdale. Introductory one-way fares start at $249, with specific introductory prices listed for select routes.

    Company releaseRead source ↗
  9. Partnership
  10. Product
  11. Announcement
  12. Announcement
  13. Announcement
  14. Leadership
  15. Announcement
  16. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Jetblue Airways Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Jetblue Airways Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.21 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.7 ~$7.9–$18 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.7 ~$3.7–$18 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Jetblue Airways Corp with Passenger Airlines in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$22.42$22.34$16.06$18.72$14.54$14.24$6.48$5.55$7.86$4.55$3.17
Market value$7.7bn$7.4bn$5.1bn$5.6bn$4.0bn$4.5bn$2.1bn$1.8bn$2.7bn$1.6bn$1.2bn
+ Net debt (− = net cash)$962m$904m$1.2bn$1.4bn$3.0bn$2.0bn$2.6bn$3.6bn$6.7bn$6.6bn$7.2bn
Enterprise value$8.6bn$8.3bn$6.3bn$7.0bn$7.0bn$6.6bn$4.7bn$5.4bn$9.4bn$8.3bn$8.4bn
Multiples
Price / sales 1.2x1.1x0.7x0.7x1.4x0.8x0.2x0.2x0.3x0.2x0.1x
Price / earnings 10.6x6.5x26.7x9.8x———————
Price / free cash flow 9.8x24.2x17.3x10.8x—6.2x—————
EV / EBITDA 5.2x5.9x8.5x5.3x—14.2x16.5x13.9x—25.8x72.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

29 /100

Weak moat

How hard Jetblue Airways's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.9% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -5.4%; its worst year was -23.9%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 9 years, at a median -5.0% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 19.7% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 26, 2027, after the close. Analysts expect revenue of $2.8bn and EPS of −$0.66 (range −$0.77 to −$0.58) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.76 −68% $10.5bn +16%
Next −$1.18 +57% $11.4bn +8%

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.55 −$0.60 −8.8%
Jun 2026 −$0.68 −$0.66 +3.3%
Mar 2026 −$0.73 −$0.87 −19.5%
Dec 2025 −$0.46 −$0.49 −6.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 26, 2026
  • EPS 2028 about $1.00
    “Together with continued JetForward execution, this reinforces our confidence in achieving sustained operating profitability in 2027 and delivering at least $1 EPS and positive free cash flow in 2028.” source
  • Adjusted Operating Margin Estimated FY 2026 -6.5% to -4.5% Non-GAAP
    “Adjusted Operating Margin (2) - (4.5%) - (6.5%)” source
  • Available Seat Miles (ASMs) Year-Over-Year Estimated FY 2026 1.5% growth to 2.5% growth
    “Available Seat Miles ("ASMs") Year-Over-Year 3.0% - 4.0% 1.5% - 2.5%” source
  • RASM Year-Over-Year Estimated FY 2026 13.5% growth to 14.5% growth
    “RASM Year-Over-Year 18.0% - 22.0% 13.5% - 14.5%” source
  • CASM Ex-Fuel Year-Over-Year Estimated FY 2026 3.5% growth to 4.5% growth Non-GAAP
    “CASM Ex-Fuel (2) Year-Over-Year (1.0%) - 1.0% 3.5% - 4.5%” source
  • Fuel Price per Gallon Estimated FY 2026 about $3.95
    “Fuel Price per Gallon (4) $4.64 $3.95” source
Show 8 more items
  • Interest Expense Estimated FY 2026 about $590m
    “Interest Expense - ~$590 million” source
  • Capital Expenditures Estimated FY 2026 about $850m
    “Capital Expenditures ~$300 million ~$850 million (3)” source
  • Estimated effective tax rate full year 2026 about 6%
    “Our estimated effective tax rate is ~6% for the full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate.” source
  • Available Seat Miles (ASMs) Year-Over-Year Estimated 4Q 2026 3% growth to 4% growth
    “Available Seat Miles ("ASMs") Year-Over-Year 3.0% - 4.0% 1.5% - 2.5%” source
  • RASM Year-Over-Year Estimated 4Q 2026 18% growth to 22% growth
    “RASM Year-Over-Year 18.0% - 22.0% 13.5% - 14.5%” source
  • CASM Ex-Fuel Year-Over-Year Estimated 4Q 2026 -1% growth to 1% growth Non-GAAP
    “CASM Ex-Fuel (2) Year-Over-Year (1.0%) - 1.0% 3.5% - 4.5%” source
  • Fuel Price per Gallon Estimated 4Q 2026 about $4.64
    “Fuel Price per Gallon (4) $4.64 $3.95” source
  • Capital Expenditures Estimated 4Q 2026 about $300m
    “Capital Expenditures ~$300 million ~$850 million (3)” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

17 analysts, Oct 2026
Buy00%
Hold1271%
Sell529%

Monthly trend

  1. Oct 2026122317
  2. Sep 2026104317
  3. Aug 2026104317
  4. Jul 2026103317

Counts of recommendations published by analysts covering Jetblue Airways Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
30.1%
of tradable shares
Days to cover
5.32
at average volume
Short interest, 1 month
+5%
to September 30, 2026
Held by institutions
88%
of shares
Held by insiders
10.5%
of shares
Employees
19,647
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −24.5%

$4.20 on October 31, 2025 to $3.17

ThenNowEffect
Revenue (last 12 months) $9.1bn $9.5bn +4.0%
P/S multiple 0.2x 0.1x −23.8%
Share count 353m 370m −4.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −27.8%

$4.39 on November 3, 2023 to $3.17

ThenNowEffect
Revenue (last 12 months) $9.9bn $9.5bn −4.2%
P/S multiple 0.1x 0.1x −15.0%
Share count 328m 370m −11.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
JBLU−2%−55%−14%+42%−42%−30%
Industry peers (median)−3%−24%−10%+18%−11%−17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
JBLU50%33%42%58%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
JBLU−41%−62%−61%−39%−58%−63%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 91% from December 7, 2015 to October 26, 2026. Getting back needed a 1018% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.37 – $6.46
From 52-week high
−50.9%
vs 50-day average
−19.7%
vs 200-day average
−35.5%
Volatility (1 year)
69%
Beta vs S&P 500
2.36

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.9%
After a week
5 up, 7 down
typical move ±12.8%
After a month
5 up, 6 down
typical move ±16.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 26, 2026 +7.2% +1.3% +20.5% —
July 28, 2026 +5.3% −1.3% +18.0% −8.1%
April 28, 2026 −2.0% −0.5% −2.0% +8.9%
January 27, 2026 −0.8% +0.4% +9.6% +14.2%
October 28, 2025 −13.3% +0.3% −13.6% −4.2%
July 29, 2025 +3.0% −0.4% 0.0% +21.3%
April 29, 2025 +7.1% +0.7% +8.1% +24.3%
January 28, 2025 −24.6% +0.4% −23.6% −19.7%
October 29, 2024 −23.1% −0.1% −19.4% −18.6%
July 30, 2024 +8.1% +1.1% −5.7% −17.9%
April 23, 2024 −21.3% +1.1% −24.4% −23.3%
January 30, 2024 −3.5% −1.7% +8.9% +17.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Jetblue Airways Corp in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Jetblue Airways Corp
$9B $9.5B $10B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $9.6B Revenue (TTM), FY24 Q1: $9.5B Revenue (TTM), FY24 Q2: $9.3B Revenue (TTM), FY24 Q3: $9.3B Revenue (TTM), FY24 Q4: $9.3B Revenue (TTM), FY25 Q1: $9.2B Revenue (TTM), FY25 Q2: $9.1B Revenue (TTM), FY25 Q3: $9.1B Revenue (TTM), FY25 Q4: $9.1B Revenue (TTM), FY26 Q1: $9.2B Revenue (TTM), FY26 Q2: $9.5B Revenue (TTM), FY26 Q3: $10B $10B

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $9.6B
FY24 Q1 $9.5B
FY24 Q2 $9.3B
FY24 Q3 $9.3B
FY24 Q4 $9.3B
FY25 Q1 $9.2B
FY25 Q2 $9.1B
FY25 Q3 $9.1B
FY25 Q4 $9.1B
FY26 Q1 $9.2B
FY26 Q2 $9.5B
FY26 Q3 $10B
Revenue growth, TTM YoY Jetblue Airways Corp
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 5.0% Revenue growth, TTM YoY, FY24 Q1: -2.6% Revenue growth, TTM YoY, FY24 Q2: -6.1% Revenue growth, TTM YoY, FY24 Q3: -3.9% Revenue growth, TTM YoY, FY24 Q4: -3.5% Revenue growth, TTM YoY, FY25 Q1: -3.0% Revenue growth, TTM YoY, FY25 Q2: -1.9% Revenue growth, TTM YoY, FY25 Q3: -2.5% Revenue growth, TTM YoY, FY25 Q4: -2.3% Revenue growth, TTM YoY, FY26 Q1: -0.5% Revenue growth, TTM YoY, FY26 Q2: 4.0% Revenue growth, TTM YoY, FY26 Q3: 9.9% 9.9%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 5.0%
FY24 Q1 -2.6%
FY24 Q2 -6.1%
FY24 Q3 -3.9%
FY24 Q4 -3.5%
FY25 Q1 -3.0%
FY25 Q2 -1.9%
FY25 Q3 -2.5%
FY25 Q4 -2.3%
FY26 Q1 -0.5%
FY26 Q2 4.0%
FY26 Q3 9.9%
Operating margin (TTM) Jetblue Airways Corp
-10% -5% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -2.4% Operating margin (TTM), FY24 Q1: -7.4% Operating margin (TTM), FY24 Q2: -9.5% Operating margin (TTM), FY24 Q3: -8.2% Operating margin (TTM), FY24 Q4: -7.4% Operating margin (TTM), FY25 Q1: -1.5% Operating margin (TTM), FY25 Q2: -2.1% Operating margin (TTM), FY25 Q3: -2.8% Operating margin (TTM), FY25 Q4: -4.1% Operating margin (TTM), FY26 Q1: -4.6% Operating margin (TTM), FY26 Q2: -5.9% Operating margin (TTM), FY26 Q3: -6.1% -6.1%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -2.4%
FY24 Q1 -7.4%
FY24 Q2 -9.5%
FY24 Q3 -8.2%
FY24 Q4 -7.4%
FY25 Q1 -1.5%
FY25 Q2 -2.1%
FY25 Q3 -2.8%
FY25 Q4 -4.1%
FY26 Q1 -4.6%
FY26 Q2 -5.9%
FY26 Q3 -6.1%
FCF margin (TTM) Jetblue Airways Corp
-20% -15% -10% -5% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -7.6% FCF margin (TTM), FY24 Q1: -12.5% FCF margin (TTM), FY24 Q2: -17.3% FCF margin (TTM), FY24 Q3: -15.3% FCF margin (TTM), FY24 Q4: -14.4% FCF margin (TTM), FY25 Q1: -12.7% FCF margin (TTM), FY25 Q2: -12.5% FCF margin (TTM), FY25 Q3: -13.8% FCF margin (TTM), FY25 Q4: -12.9% FCF margin (TTM), FY26 Q1: -12.2% FCF margin (TTM), FY26 Q2: -11.4% FCF margin (TTM), FY26 Q3: -11.4% -11.4%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -7.6%
FY24 Q1 -12.5%
FY24 Q2 -17.3%
FY24 Q3 -15.3%
FY24 Q4 -14.4%
FY25 Q1 -12.7%
FY25 Q2 -12.5%
FY25 Q3 -13.8%
FY25 Q4 -12.9%
FY26 Q1 -12.2%
FY26 Q2 -11.4%
FY26 Q3 -11.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 6,584 7,012 7,658 8,094 2,957 6,037 9,158 9,615 9,279 9,062 9,993
EBITDA 1,653 1,397 735 1,325 −1,179 460 287 391 −29 320 115
Operating income 1,260 973 266 800 −1,714 −80 −298 −230 −684 −368 −609
Net income 727 1,140 189 569 −1,354 −182 −362 −310 −795 −602 −1,000
Diluted EPS $2.13 $3.45 $0.60 $1.91 −$4.88 −$0.57 −$1.12 −$0.93 −$2.30 −$1.66 −$2.68
Growth (year on year)
Revenue — +6.5% +9.2% +5.7% −63.5% +104.2% +51.7% +5.0% −3.5% −2.3% +9.9%
EBITDA — −15.5% −47.4% +80.3% −189.0% — −37.6% +36.2% −107.4% — −73.1%
Operating income — −22.8% −72.7% +200.8% −314.3% — — — — — —
Net income — +56.8% −83.4% +201.1% −338.0% — — — — — —
Diluted EPS — +62.0% −82.6% +218.3% −355.5% — — — — — —
Margins
EBITDA margin 25.1% 19.9% 9.6% 16.4% −39.9% 7.6% 3.1% 4.1% −0.3% 3.5% 1.2%
Operating margin 19.1% 13.9% 3.5% 9.9% −58.0% −1.3% −3.3% −2.4% −7.4% −4.1% −6.1%
Net margin 11.0% 16.3% 2.5% 7.0% −45.8% −3.0% −4.0% −3.2% −8.6% −6.6% −10.0%
Free-cash-flow margin 11.9% 4.3% 3.8% 6.4% −47.3% 12.2% −4.2% −7.6% −14.4% −12.9% −11.4%
Cash flow
Cash from operations 1,632 1,379 1,200 1,449 −683 1,642 379 400 144 −94 −224
Capital spending 850 1,074 908 932 715 907 767 1,128 1,478 1,078 911
Free cash flow 782 305 292 517 −1,398 735 −388 −728 −1,334 −1,172 −1,135
Stock-based pay 23 29 28 31 28 28 30 39 39 40 35
Free cash flow after stock pay 759 276 264 486 −1,426 707 −418 −767 −1,373 −1,212 −1,170
Balance sheet
Cash 433 303 474 959 1,918 2,018 1,042 1,166 1,921 1,946 1,258
Total debt 1,395 1,207 1,680 2,352 4,907 4,042 3,676 4,740 8,618 8,560 8,450
Net debt (negative = net cash) 962 904 1,206 1,393 2,989 2,024 2,634 3,574 6,697 6,614 7,192
Diluted shares 342m 330m 315m 298m 278m 318m 324m 333m 346m 362m 373m
Returned to shareholders
Buybacks 120 380 375 535 160 — — — — — —
Total returned 120 380 375 535 160 — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 6 checks passed · September 30, 2026
What it owns · $16.0bn
Short-term assets $2.8bnLonger-term assets $13.2bn
What it owes, and who funded it · $5.8bn
Short-term liabilities $4.4bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $2.8bn of assets due within a year against $4.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $1.3bn of cash against $8.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 628% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 109% to 628% over five years.
  • A year's operating cash flow covers at least 20% of debt −$224m of operating cash flow against $8.4bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$609m against $587m of interest.

From Jetblue Airways Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.7%
year over year

Competitors: side by side with peers

Closest by revenue in passenger airlines
Last 12 months unless stated JBLU ALK RYAAY AERO ULCC SKYW Median
Revenue, last 12 months $10.0bn $14.8bn $18.0bn $5.4bn $4.6bn $4.3bn $5.0bn
Revenue growth, last 12 months 9.9% 9.8% 20.3% −4.6% 24.0% 7.0% 11.1%
Revenue growth, 3-year average 1.0% 12.6% — — 8.7% 14.1% 7.6%
Revenue growth, latest quarter 21.1% 9.7% — — 52.9% 6.4% 20.2%
Operating margin −6.1% −1.5% 15.3% 17.3% −9.5% 13.9% 0.0%
Operating margin, 3-year average −5.7% 2.0% 10.5% — −4.4% 13.7% −1.6%
Net margin −10.0% −1.2% 14.0% 6.6% −8.9% 9.7% 0.1%
Cash from operations / revenue −2.2% 6.9% 23.8% 17.0% 1.3% 18.8% 7.0%
Free-cash-flow margin −11.4% 5.0% 11.6% 10.8% 0.0% 17.9% −0.1%
Free-cash-flow margin, 3-year average −13.5% 4.8% 12.7% — −6.4% 17.6% −3.2%
Stock pay / revenue 0.4% 0.5% 0.1% 0.0% 0.4% 0.4% 0.4%
Change in share count 4.7% −8.4% −3.9% — 0.5% −3.4% −1.3%

Median of all 16 companies we cover in passenger airlines. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

16 passenger airlines companies
Measure Company Peer median Rank
Revenue growth Growth 9.9% 12.2% 9 of 16
Change in growth rate Growth +5.9pp +4.8pp 6 of 16
Operating margin Profitability -6.1% 1.6% 10 of 16
Net margin Profitability -10.0% 0.9% 13 of 16
Free-cash-flow margin Cash generation -11.4% 0.0% 13 of 16
Stock pay as % of revenue Cash generation 0.4% 0.4% 5 of 13
Long-term debt as % of assets Balance sheet 52.6% 26.9% 13 of 14
Change in share count Balance sheet 4.7% -1.3% 9 of 10

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Passenger $8.3B 92.0% ▼ 3.3%
Other $726M 8.0% ▲ 9.7%
Geography
Region Revenue Share YoY
Domestic Canada $5.5B 60.2% ▼ 3.3%
Caribbean and Latin America $3.1B 34.6% ▼ 0.9%
Atlantic $471M 5.2% ▲ 0.2%

From Jetblue Airways Corp's 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.9B
Institutions reporting
380
Shares held vs prior quarter
▲ 9.9%
Positions opened / closed
68 / 62

Top buyers and sellers, Q2 2026: 208 institutions bought and 154 sold ; the biggest buyer was Ameriprise Financial Inc (+11.4M shares) and the biggest seller Icahn Carl C (−13.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $283M 49.5M 15.0% ▲ 13.6%
Icahn Carl C $118M 20.7M 6.3% ▼ 38.6%
Vanguard Portfolio Management LLC $105M 18.3M 5.6% ▲ 7.4%
Two Sigma Investments, LP $99.5M 17.4M 5.3% ▲ 46.6%
Vanguard Capital Management LLC $79.5M 13.9M 4.2% ▲ 7.4%
State Street Corp $79.1M 13.8M 4.2% ▲ 8.9%
Dimensional Fund Advisors LP $75.5M 13.2M 4.0% ▲ 0.4%
Ameriprise Financial Inc $71.5M 12.5M 3.8% ▲ 1084.0%
Geode Capital Management, LLC $48.9M 8.5M 2.6% ▲ 12.3%
FMR LLC $41.3M 7.2M 2.2% ▲ 64.0%
Goldman Sachs Group Inc $39.3M 6.9M 2.1% ▲ 96.0%
Renaissance Technologies LLC $37.1M 6.5M 2.0% ▲ 188.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Jetblue Airways Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $506,000 2 trades by 1 insider, last 12 months Insider sales History → $920,046 13 trades by 6 insiders · 53% under pre-set plans
Net ▼ $414,046 net selling
Insider Date Trade Shares Price Value
Boneparth Peter Director October 29, 2026 Buy 100,000 $3.00 $300,000
Clements Carol Ann Chief Digital & Tech Officer September 30, 2026 Sell pre-set plan 2,000 $4.29 $8,580
Clements Carol Ann Chief Digital & Tech Officer August 31, 2026 Sell pre-set plan 2,000 $4.71 $9,420
Clements Carol Ann Chief Digital & Tech Officer July 30, 2026 Sell pre-set plan 2,000 $5.75 $11,500
Hurley Ursula L Chief Financial Officer July 30, 2026 Sell pre-set plan 74,276 $5.75 $427,087
Hurley Ursula L Chief Financial Officer July 30, 2026 Sell pre-set plan 2,977 $6.00 $17,862
Sharma Vivek Director May 28, 2026 Sell 5,000 $5.40 $27,000
Sharma Vivek Director May 28, 2026 Sell 585 $5.42 $3,171
Sharma Vivek Director May 28, 2026 Sell 26,415 $5.41 $142,905
Southerton Dawn Principal Accounting Officer May 4, 2026 Sell 18,193 $5.00 $90,965
Christie Warren Chief Operating Officer May 1, 2026 Sell pre-set plan 2,680 $4.65 $12,462
Winkelmann Thomas Director May 1, 2026 Sell 13,379 $4.71 $63,015

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Jetblue Airways Corp disclosed in the last 12 months; 2 earlier trades on record.

  • E. Scott Rigell(VA):Sale (full), $15,001 - $50,000, traded March 22, 2016, filed April 28, 2016
  • E. Scott Rigell(VA):Purchase, $15,001 - $50,000, traded March 8, 2016, filed April 28, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 26, 2026
  • July 28, 2026
  • April 28, 2026
  • January 27, 2026
  • October 28, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Jetblue Airways Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Jetblue Airways Corp in brief

What does Jetblue Airways Corp do?
Jetblue Airways Corp is a US-listed company in the passenger airlines industry. Its financial year ends in December.
What is Jetblue Airways Corp's stock ticker?
Jetblue Airways Corp trades under the ticker JBLU on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Jetblue Airways Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Jetblue Airways Corp reported revenue of $10B, 9.9% higher than a year earlier, according to its SEC filings.
What is Jetblue Airways Corp's free cash flow?
Jetblue Airways Corp's free-cash-flow margin is -11.4% of revenue over the trailing twelve months, ranking 13 of the 16 passenger airlines companies we cover.
Who are Jetblue Airways Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Icahn Carl C and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Jetblue Airways Corp's market cap?
On November 2, 2026, Jetblue Airways Corp's market capitalisation was about $1.2B and net debt of $7.2B. Market figures come from third-party market data and may be delayed.
How much debt does Jetblue Airways Corp have?
Jetblue Airways Corp's debt-to-equity ratio is 627.7%, from its latest balance sheet (109.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Jetblue Airways Corp's competitors?
In our Passenger Airlines peer group, the companies closest to Jetblue Airways Corp are Alaska AIR Group, Inc., Ryanair Holdings PLC, Grupo Aeromexico, S.a.b. De C.v., Frontier Group Holdings, Inc. and Skywest Inc. The side-by-side comparison below sets their revenue, margins and growth against Jetblue Airways Corp's.
Are insiders buying or selling Jetblue Airways Corp stock?
Over the last 12 months, Jetblue Airways Corp's directors and officers reported 2 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Jetblue Airways Corp's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Jetblue Airways Corp announces its own schedule.