Sky Harbour Group Corporation

AMEX•SKYH

CEO: Mr. Francisco X. Gonzalez

Sector: Industrials

Industry: Aerospace & Defense

Listing Date: 2020-12-08

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company is based in White Plains, New York.

Contact Information

Westchester County Airport, Suite 205 136 Tower Road, White Plains, NY, 10604, United States

212-554-5990

skyharbour.group

Market Cap

$759.54M

P/E (TTM)

17.9

17.3

Dividend Yield

52W High

$12.67

52W Low

$8.22

52W Range

38%

Rank56Top 81.7%

2.5

F-Score

Modified Piotroski Analysis

Based on 6-year fundamentals

Weak • 2.5 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$8.06M+0.00%

4-Quarter Trend

EPS

$0.29+0.00%

4-Quarter Trend

FCF

-$9.06M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Income Turnaround Achieved Net Income $7.32M in 2025, reversing prior $(53.68M) loss, largely due to warrant fair value adjustments.

Rental Revenue Increased 70% Total Revenue $27.54M, up $12.78M; Rental Revenue grew $8.89M, reflecting 70% expansion across campuses.

Major Development Pipeline 74 hangars planned across development portfolio, projecting 2.70M rentable square feet for future leasing capacity.

Operating Occupancy Reached 78.1% Weighted average occupancy across operating campuses reached 78.1% as of December 31, 2025, supporting revenue stability.

Risk Factors

Significant Operating Losses Continue Operating Loss reached $(28.03M) in 2025, indicating ongoing cash burn required for extensive development activities.

Debt Obligations and Foreclosure Risk Secured debt under Series 2021/2026 Bonds exposes properties to foreclosure risk if debt service obligations are not met.

Ground Lease Dependency Critical Business success depends on renewing ground leases; non-renewal or unfavorable terms could severely impact operations.

Construction Cost Inflation Risk Capital projects face material adverse effects from inflationary pressures, supply chain disruptions, and potential cost overruns.

Outlook

Future Expansion Capital Required 50 airport site plan estimated to cost $3.0B, necessitating substantial future equity and debt financing access.

Retain Earnings for Growth Company intends to retain all future earnings, having no plans to pay cash dividends to finance further expansion.

Refinancing Debt Sensitivity Must refinance Series 2026 Bonds by January 2031; elevated interest rates will increase future borrowing costs.

Focus on High-End Tenant Markets Strategy focuses on capitalizing on existing hangar supply constraints by targeting high-end tenants at major U.S. airports.

Peer Comparison

Revenue (TTM)

VLRS

$3.13B

+2.5%

ALTG

$1.82B

-1.9%

MATW

$1.21B

-28.9%

Gross Margin (Latest Quarter)

62.1%

-0.4pp

CRESY

38.8%

+6.7pp

MATW

38.4%

+4.3pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
GLDD	$1.14B	15.5	14.8%	34.6%
NPK	$1.02B	30.7	8.7%	6.6%
VLRS	$882.09M	-7.2	-50.2%	67.6%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

12.9%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:May 11, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data