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Jetblue Airways

JBLU on Nasdaq. JetBlue flies passengers to destinations in the Americas and Europe. Market value $1.5bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Industrials stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-71.1%low

For every $100 of what the whole company costs, it produced $-71.09 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-3.3%five-year median

Each dollar kept in the business earns -3 cents a year. Above 10 is good.

Quality score: 24 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$4.03 a share, 4% above its 1-year low

Over the past year the price has ranged from $3.87 to $6.62.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.7
-0.4
-0.7
-1.3
-1.2
-1.1
2021202220232024202512 monthsto Jun '26
Revenue
$6.0bn$9.2bn$9.6bn$9.3bn$9.1bn
Operating margin
-1.3%-3.3%-2.4%-7.4%-4.1%
Debt to equity
1.051.031.423.264.04
Shares outstanding
0.32bn0.33bn0.35bn0.36bn0.38bn

Health checks

  • Free cash flow positive1 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)2 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt4.04× equity
  • Revenue growth, five yearsStrong, 25.1% a year
  • Buying back its own sharesNo, 16% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2.7 billion last quarter, up 14% on a year ago.
  • A loss of $247 million, compared with a loss of $74 million a year ago.
  • It loses 6 cents on each $1 of sales, compared with 2 cents a year earlier.
  • Over the past 12 months it spent $1.1 billion more cash than it brought in, compared with $1.1 billion a year earlier.
  • 4% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $6.9 billion more than cash, up from $6.4 billion a year ago.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$2.4bn
December 2024$2.3bn
March 2025$2.1bn
June 2025$2.4bn
September 2025$2.3bn
December 2025$2.2bn
March 2026$2.2bn
June 2026$2.7bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$60m
December 2024-$44m
March 2025-$208m
June 2025-$74m
September 2025-$143m
December 2025-$177m
March 2026-$319m
June 2026-$247m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
12 February 2026
Next quarterly (estimated, 10-Q)
27 October 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 381 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%; 1 of them is pushing for change.

  • BlackRock, Inc.
    Passive investor
    11.8%
    Since 30 September 2025
  • Galkin Vladimir
    Passive investor
    at least 10.0%0.0 pts
    (filed with 2 related holders)
    Since 3 May 2026
  • Galkin Angelica
    Passive investor
    at least 10.0%0.0 pts
    (filed with 1 related holder)
    Since 3 May 2026
    What they said

    The Reporting Persons acquired the securities reported herein for investment in the ordinary course of business because of their belief that the Issuer represents an attractive investment based on the Issuer's business prospects and strategy. The Reporting Persons intend to hold…

    Read the filing
  • at least 3.3%−2.2 pts
    (filed with 10 related holders)
    Since 18 August 2026
  • FMR LLC
    Passive investor
    Sold down below 5%
    Since 30 June 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $206,000 of shares on the open market. 6 sold $920,046, $489,148 of it under preset trading plans.

  • Clements Carol Ann
    Chief Digital & Tech Officer
    Sold
    under a preset trading plan
    Date
    30 September 2026
    Shares
    2,000
    Price
    $4.29
    Value
    $8,580
  • Clements Carol Ann
    Chief Digital & Tech Officer
    Sold
    under a preset trading plan
    Date
    31 August 2026
    Shares
    2,000
    Price
    $4.71
    Value
    $9,420
  • Hurley Ursula L
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    30 July 2026
    Shares
    77,253
    Price
    $5.76
    Value
    $444,949
  • Clements Carol Ann
    Chief Digital & Tech Officer
    Sold
    under a preset trading plan
    Date
    30 July 2026
    Shares
    2,000
    Price
    $5.75
    Value
    $11,500
  • Sharma Vivek
    Director
    Sold
    Date
    28 May 2026
    Shares
    32,000
    Price
    $5.41
    Value
    $173,076
  • Southerton Dawn
    Principal Accounting Officer
    Sold
    Date
    4 May 2026
    Shares
    18,193
    Price
    $5.00
    Value
    $90,965
  • Christie Warren
    Chief Operating Officer
    Sold
    under a preset trading plan
    Date
    1 May 2026
    Shares
    2,680
    Price
    $4.65
    Value
    $12,462
  • Winkelmann Thomas
    Director
    Sold
    Date
    1 May 2026
    Shares
    35,473
    Price
    $4.70
    Value
    $166,857
  • Christie Warren
    Chief Operating Officer
    Sold
    under a preset trading plan
    Date
    11 November 2025
    Shares
    505
    Price
    $4.43
    Value
    $2,237
  • BONEPARTH PETER
    Director
    Bought
    Date
    4 November 2025
    Shares
    50,000
    Price
    $4.12
    Value
    $206,000

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 28 Jul 2026 and 8 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 4.0× its equity.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.