SKYH

Sky Harbour Group

Fundamental data last updated:April 13, 2026

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company profile

SECTOR

Real Estate

industry

Real Estate - Development

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/12/26

Business Summary

Sky Harbour Group develops and operates private aviation hangars tailored to business jet owners and operators, focusing on long-term ground leases and specialized infrastructure. The model revolves around acquiring or leasing airport-adjacent land, constructing purpose-built hangars, and generating recurring rental income from aviation tenants. Cash flow stability depends on occupancy rates, lease duration, and disciplined capital deployment into new development projects. The moat is niche specialization — high switching costs for aircraft owners once housed, regulatory barriers at airports, and limited prime aviation-adjacent real estate supply.

 


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VALUATION

P/E

114.9

Market Cap ($M USD)

$353

Forward P/E

500+

PEG

-

PRICE TO SALES

29.2

PRICE TO BOOK

2.8

EV / EBITDA

47.9

5-Year Average P/E

Free Cash Flow Yield

DCF Value

Graham Number

Price to FCF

EV to FCF

Earnings Yield

FCF Yield

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$0.56

Next Year EPS Growth Estimate

$0.00

Next Year Revenue Growth Estimate

70.80%

Return on Equity (ROE)

14.70%

FREE CASH FLOW

Operating Margin

-101.80%

Debt-to-Equity

2.9

Piotroski F-Score

3

Altman Z-Score

0.3

Return on Invested Capital (ROIC)

4.30%

Current Ratio

1.5

Quick Ratio

Net Debt to EBITDA

Interest Coverage

Gross Profit margin

FCF PER SHARE

REVENUE PER SHARE

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Gainseekers Quantitative Analysis

Summary

At 114.9x trailing earnings and an absurd 500+ Forward P/E, the market is pricing in hyper-growth that simply does not exist in the forward estimates. A PEG that is effectively nonexistent and a catastrophic Altman Z-Score of 0.3 signal financial fragility, not premium compounder status. Despite a 70.80% Return on Equity, the capital structure distortion (Debt/Equity of -101.80%) makes that figure highly suspect. With a $353M market cap and a 29.2 Price/Sales ratio in a capital-intensive real estate development business, this is priced like a high-growth tech platform but financially behaves like a stressed developer. This is not a classic mispricing — it looks more like speculative overvaluation layered on top of balance sheet risk.

AI Exposure / Tech Reliance

As a real estate development company, its AI exposure is indirect and operational rather than transformational. AI can enhance site selection, tenant analytics, and capital allocation efficiency, but it will not fundamentally change asset-heavy development economics. The business remains tied to physical infrastructure cycles, not software scalability.

The Bull Case

A bull could argue that a 14.70% operating margin in real estate development is respectable and suggests project-level discipline. The 70.80% ROE, even if capital-structure influenced, indicates the company has been able to generate substantial returns on equity capital. A ROIC of 4.30% shows positive capital returns, and a Current Ratio of 1.5 suggests near-term liquidity is not immediately distressed. With a 2.9 yield, investors are at least being compensated modestly while waiting for forward EPS of $0.56 next year, implying a potential earnings reset narrative. For aggressive GARP investors, the thesis would rest on earnings normalization dramatically compressing the 500+ Forward P/E over time.

The Bear Case

The bear case is overwhelming. A Debt/Equity ratio of -101.80% signals a deeply impaired or structurally unstable capital base. An Altman Z-Score of 0.3 is firmly in distress territory, and a Piotroski F-Score of 3 reflects weak fundamental health. Paying 29.2x sales for a company with zero listed forward sales growth and a 500+ Forward P/E is speculative at best. With institutional ownership at just 16.38% and a Consensus Rating figure of 13.30% alongside a Mean Target Price of 1.25, market conviction appears thin. This combination screams balance sheet risk plus valuation excess — a dangerous mix in a rate-sensitive sector.

Market Sentiment & Smart Money

Short Interest %

13.30%

Analyst Consensus

1.25

Average Analyst Price Target

$16.38

Institutional Ownership %

29.00%

1-Year Beta

1.11

Insider Buying % (6 Mo)

38.50%%

Distance to 52-Week High

81.80%

Distance to 52-Week Low

126.00%

EARNINGS SURPRISE %

50-DAY SMA

200-DAY SMA

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.