Republic Airways Holdings (FRA:M2A0) Operating Income: €117.9 Mil (TTM As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:M2A0 Republic Airways Holdings Inc FRA:M2A0
39 GF Score
Price €15.60
! 6 Warning Signs
View Full Analysis

What is Republic Airways Holdings Operating Income?

Republic Airways Holdings FRA:M2A0 39 Operating Income is €117.9 Mil as of Jun. 2026. GuruFocus rates FRA:M2A0 with a GF Score™ of 39/100. The stock has 6 warning signs investors should review.

Republic Airways Holdings's Operating Income for the three months ended in Jun. 2026 was €62.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €117.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Republic Airways Holdings's Operating Income for the three months ended in Jun. 2026 was €62.8 Mil. Republic Airways Holdings's Revenue for the three months ended in Jun. 2026 was €495.7 Mil. Therefore, Republic Airways Holdings's Operating Margin % for the quarter that ended in Jun. 2026 was 12.66%.

Warning Sign:

Republic Airways Holdings Inc operating margin has been in a 5-year decline. The average rate of decline per year is -1.8%.

Republic Airways Holdings's 5-Year average Growth Rate for Operating Margin % was -1.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Republic Airways Holdings's annualized ROC % for the quarter that ended in Jun. 2026 was 7.04%. Republic Airways Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 9.39%.


Republic Airways Holdings  (FRA:M2A0) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Republic Airways Holdings's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=251.024 * ( 1 - 28.11% )/( (2585.226 + 2538.639)/ 2 )
=180.4611536/2561.9325
=7.04 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=2824.225 - 268.15 - ( 236.491 - max(0, 449.973 - 420.822+236.491))
=2585.226

Invested Capital(Q: Jun. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=2826.555 - 275.156 - ( 240.957 - max(0, 451.707 - 464.467+240.957))
=2538.639

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Republic Airways Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=209.016/( ( (2240.955 + max(-130.788, 0)) + (2210.362 + max(-129.418, 0)) )/ 2 )
=209.016/( ( 2240.955 + 2210.362 )/ 2 )
=209.016/2225.6585
=9.39 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(18.684 + 82.434 + 36.244) - (268.15 + 0 + 5.6843418860808E-14)
=-130.788

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(19.704 + 86.019 + 40.015) - (275.156 + 0 + 0)
=-129.418

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Republic Airways Holdings's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=62.756/495.715
=12.66 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Republic Airways Holdings Operating Income Related Terms


Republic Airways Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for Republic Airways Holdings's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Republic Airways Holdings Operating Income Chart

Republic Airways Holdings Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 86.29 124.89 124.35 133.89 183.95

Republic Airways Holdings Quarterly Data
Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec23 Mar24 Dec24 Mar25 Jun25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 53.00 49.25 0.00 55.10 62.76
FRA:M2A0
39GF Score
Republic Airways Holdings Inc FRA:M2A0
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Republic Airways Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €117.9 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of €117.9 Mil mean?
Republic Airways Holdings (FRA:M2A0) has a Operating Income of €117.9 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Republic Airways Holdings and its competitors.
Is Republic Airways Holdings' Operating Income too high?
Republic Airways Holdings' current Operating Income is €117.9 Mil. Overall, Republic Airways Holdings has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Republic Airways Holdings' Operating Income compare to ULCC and HRBR?
Republic Airways Holdings' Operating Income of €117.9 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Transportation company?
A good Operating Income depends on the Transportation industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Republic Airways Holdings and its competitors. Republic Airways Holdings's current Operating Income is €117.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Republic Airways Holdings stock overvalued right now?
Republic Airways Holdings (FRA:M2A0) has a current Operating Income of €117.9 Mil. The current Operating Income is €117.9 Mil. Republic Airways Holdings' overall GF Score™ is 39/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Republic Airways Holdings (FRA:M2A0), the current Operating Income is €117.9 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Republic Airways Holdings Business Description

Other Exchanges RJET:USA
Address 2 Brickyard Lane, Carmel, IN, USA, 46032
Republic Airways Holdings Inc is a regional airline mainly in North America. The company provides scheduled passenger service through its mainline partnerships with American Airlines, Delta Air Lines, and United Airlines. Republic offers scheduled passenger service on several daily flights to various cities in the United States, Canada, Mexico, and the Caribbean. It exclusively operates the dual-class Embraer E170/175 family of aircraft, and provides its services under the American Eagle, Delta Connection, or United Express brands. The company is organized and operates as one operating and reportable segment: regional airline services.
39GF Score

Get the complete analysis for FRA:M2A0

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€15.60
Price