ULCC (Frontier Group Holdings) Scaled Net Operating Assets: 0.65 (As of Mar. 2026)


ULCC Frontier Group Holdings Inc ULCC
75 GF Score
Price $7.81
GF Value $5.54
Valuation Significantly Overvalued
! 10 Warning Signs
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What is Frontier Group Holdings Scaled Net Operating Assets?

Frontier Group Holdings ULCC -2.61% 75 Scaled Net Operating Assets is 0.65 as of Mar. 2026. GuruFocus rates ULCC with a GF Score™ of 75/100 and a GF Value™ of $5.54 (Significantly Overvalued). The stock has 10 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Frontier Group Holdings's operating assets for the quarter that ended in Mar. 2026 was $6,245 Mil. Frontier Group Holdings's operating liabilities for the quarter that ended in Mar. 2026 was $1,547 Mil. Frontier Group Holdings's Total Assets for the quarter that ended in Dec. 2025 was $7,220 Mil. Therefore, Frontier Group Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.65.


Frontier Group Holdings Scaled Net Operating Assets Historical Data

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The historical data trend for Frontier Group Holdings's Scaled Net Operating Assets 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.

Frontier Group Holdings Scaled Net Operating Assets Chart

Frontier Group Holdings Annual Data
Trend Dec15 Dec16 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.69 0.63 0.75 0.87 0.86

Frontier Group Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.76 0.74 0.75 0.79 0.65

ULCC vs RJET, JBLU, ALGT: Scaled Net Operating Assets Comparison

For the Airlines subindustry, Frontier Group Holdings's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Frontier Group Holdings Scaled Net Operating Assets vs Transportation Industry

For the Transportation industry and Industrials sector, Frontier Group Holdings's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Frontier Group Holdings's Scaled Net Operating Assets falls into.


ULCC
75GF Score
Frontier Group Holdings Inc ULCC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Frontier Group Holdings Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Frontier Group Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(6549-1266)/6153
=0.86

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=7220 - 671
=6549

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6729 - 4383 - 1080
=1266

Frontier Group Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(6245-1547)/7220
=0.65

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=7017 - 772
=6245

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6795 - 4215 - 1033
=1547

* 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.

What does a Scaled Net Operating Assets of 0.65 mean?
Frontier Group Holdings (ULCC) has a Scaled Net Operating Assets of 0.65 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Frontier Group Holdings and its competitors.
Is Frontier Group Holdings' Scaled Net Operating Assets too high?
Frontier Group Holdings' current Scaled Net Operating Assets is 0.65. Overall, Frontier Group Holdings has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Frontier Group Holdings' Scaled Net Operating Assets compare to RJET and JBLU?
Frontier Group Holdings' Scaled Net Operating Assets of 0.65 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 Scaled Net Operating Assets for a Transportation company?
A good Scaled Net Operating Assets depends on the Transportation industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Frontier Group Holdings and its competitors. Frontier Group Holdings's current Scaled Net Operating Assets is 0.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frontier Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Frontier Group Holdings (ULCC) is currently considered Significantly Overvalued. The stock's GF Value™ is $5.54, compared to a current price of $7.81 — trading 40.9% above its estimated fair value. The current Scaled Net Operating Assets is 0.65. Frontier Group Holdings' overall GF Score™ is 75/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Frontier Group Holdings (ULCC), the current Scaled Net Operating Assets is 0.65 as of Mar. 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.

Is Frontier Group Holdings (ULCC) Overvalued in 2026?

Based on GuruFocus' analysis, Frontier Group Holdings stock appears to be overvalued. The current stock price of $7.81 is trading 40.9% above its estimated GF Value™ of $5.54. GuruFocus considers Frontier Group Holdings to be Significantly Overvalued.

Key valuation signals for ULCC:

  • Scaled Net Operating Assets: 0.65
  • GF Value™: $5.54 vs. price of $7.81 (40.9% above fair value)
  • GF Score™: 75/100 with 10 warning signs

No single metric tells the full story. See the ULCC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Frontier Group Holdings Business Description

Other Exchanges 0VN:Germany
Address 4545 Airport Way, Denver, CO, USA, 80239
Frontier Group Holdings Inc is an ultra-low-cost carrier whose business is focused on Low Fares Done Right. The company owns a fleet of 120 Airbus single-aisle aircraft, consisting of 13 A320ceos, 82 A320neos, 21 A321ceos, and 4 A321neos. The use of these aircraft, their seating configuration, weight-saving tactics, and baggage process have all contributed to the ability to continue to be the fuel-efficient of all the U.S. The Company is managed as a single business unit that provides air transportation for passengers. The majority of revenue is from Domestic flight follow by International.
75GF Score

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

$7.81
Price
$5.54
GF Value