Mesa Air Group Inc (MESA) Financial Statements
Industry: Air Transportation, Scheduled
In fiscal 2025, Mesa Air reported revenue of $1.68B, up 251.9% from $476.4M the year before. Net income was $76.2M (a 4.5% net margin), or $1.87 per diluted share. Gross margin was 10.0% and operating margin was 10.0%. Operating activities generated $322.0M of cash, leaving -$74.9M of free cash flow. At fiscal year end, Mesa Air held $3.28B in total assets against $1.95B in total liabilities, including $134.3M of cash and equivalents.
Open the full interactive Mesa Air financials → Quarterly statements, key ratios, valuation history and price charts.
Mesa Air Key Stats
| Share Price | $16.69 |
|---|---|
| Market Cap | $770.6M |
| P/E Ratio | 8.9 |
| Revenue YoY Growth | +251.9% |
| 52-Week Range | $16.34 – $25.35 |
| Shares Outstanding | 45.7 million (basic, 2026 Q2) |
Mesa Air Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $545.1M | $503.6M | $531.0M | $498.1M | $476.4M | $1.68B |
| Cost of Goods Sold | $464.9M | $440.4M | $720.7M | $582.4M | $542.2M | $1.51B |
| Gross Profit | $80.2M | $63.2M | -$189.7M | -$84.3M | -$65.8M | $168.3M |
| Operating Income | $80.2M | $63.2M | -$189.7M | -$84.3M | -$65.8M | $168.3M |
| Pre-Tax Income | $37.0M | $22.4M | -$234.7M | -$128.9M | -$90.5M | $113.4M |
| Income Tax | $9.5M | $5.8M | -$52.0M | -$8.7M | $519,000 | $37.2M |
| Net Income | $27.5M | $16.6M | -$182.7M | -$120.1M | -$91.0M | $76.2M |
| Diluted EPS | $11.70 | $6.45 | -$75.90 | -$45.60 | -$33.15 | $1.87 |
Mesa Air Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $90.7M | $1.40B | $527.4M | $571.1M |
| Net Income | -$14.1M | $128.1M | $26.9M | $31.2M |
| Diluted EPS | -$5.10 | $3.15 | $0.58 | $0.68 |
Mesa Air Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $99.4M | $120.5M | $57.7M | $32.9M | $15.6M | $134.3M |
| Current Assets | $155.6M | $158.4M | $98.3M | $138.6M | $61.3M | $540.7M |
| Total Assets | $1.50B | $1.46B | $1.12B | $898.5M | $596.9M | $3.28B |
| Current Liabilities | $353.3M | $258.2M | $214.5M | $267.9M | $174.5M | $574.3M |
| Total Long-Term Debt | $731.7M | $651.4M | $599.7M | $528.3M | $310.3M | $1.08B |
| Total Liabilities | $1.04B | $968.5M | $807.4M | $698.4M | $486.6M | $1.95B |
| Shareholders' Equity | $457.9M | $488.0M | $308.2M | $200.0M | $110.2M | $1.33B |
Mesa Air Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $174.7M | $132.9M | $13.4M | -$24.1M | $34.2M | $322.0M |
| Cash From Investing | -$26.7M | -$33.5M | $1.4M | $142.3M | $148.8M | -$350.9M |
| Cash From Financing | -$117.7M | -$78.4M | -$77.6M | -$143.1M | -$200.5M | $54.7M |
| Free Cash Flow | $148.0M | $115.7M | -$27.5M | -$24.1M | $34.2M | -$74.9M |
Figures from Mesa Air's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Mesa Air financials page for every line item.
Mesa Air Company Profile
| Ticker | MESA |
|---|---|
| Exchange | Nasdaq |
| Industry | Air Transportation, Scheduled |
| Headquarters | Carmel, Indiana |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer |
| SEC CIK | 0000810332 |
Frequently Asked Questions
What was Mesa Air's revenue in fiscal 2025?
Mesa Air (MESA) reported revenue of $1.68B for fiscal 2025.
What is Mesa Air's annual revenue history?
Mesa Air's annual revenue by fiscal year: 2020: $545.1M; 2021: $503.6M; 2022: $531.0M; 2023: $498.1M; 2024: $476.4M; 2025: $1.68B.
What was Mesa Air's net income in fiscal 2025?
Mesa Air reported net income of $76.2M for fiscal 2025.
What was Mesa Air's earnings per share (EPS) in fiscal 2025?
Mesa Air's diluted EPS was $1.87 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Mesa Air generate in fiscal 2025?
Mesa Air generated -$74.9M of free cash flow in fiscal 2025.
What was Mesa Air's revenue last quarter?
In its most recent reported quarter (2026 Q2), Mesa Air reported revenue of $571.1M.
How much debt does Mesa Air have?
Mesa Air reported $1.08B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Mesa Air are outstanding?
Mesa Air reported a weighted average of 45.7 million basic shares outstanding in 2026 Q2.
What is Mesa Air's market cap?
Based on its latest closing price, Mesa Air (MESA) has a market capitalization of about $770.6M.
When does Mesa Air's fiscal year end?
Mesa Air's fiscal year end, as registered with the SEC, is December 31.
Where is Mesa Air headquartered?
Mesa Air lists its business address in Carmel, Indiana in its SEC filings.