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Frontier Group Holdings, Inc. cash flow statement

In fiscal 2025, Frontier Group Holdings, Inc.'s operations generated −$525m of cash; it spent $75.0m on capital projects, leaving free cash flow of −$600m.

Cash flow statement

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

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations171−557216−78−261−82−52559
Depreciation and amortisation46333845507291203
Stock-based pay88111514162120
Capital spending4516274151767557
Free cash flow126−573189−119−312−158−6002
Free cash flow after stock pay118−581178−134−326−174−621−18
Dividends paid15900110——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Frontier Group Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Frontier Group Holdings, Inc.