VLRS

MKT CAP:$860M

Controladora Vuela Compañía de Aviación, S.A.B. de C.V.

Market Cap

$860M

Industrials·Airlines, Airports & Air Services·🇲🇽 Mexico·NYSE

Industrials·Airlines,·🇲🇽·NYSE

Stock Price

$7.68-$1.46 (-15.97%)

Apr 22, 2026

Company Details

Controladora Vuela Compañía de Aviación, S.A.B. de C.V., through its subsidiaries, Concesionaria Vuela Compañía de Aviación, S.A.P.I. de C.V., provides air transportation services for passengers, cargo, and mail in Mexico and internationall...

CEO

Enrique Javier Beltranena Mejicano

IPO Date

Sep 18, 2013

Website

www.volaris.com

Key Metrics TTM

Revenue

$3.2B

-2.1% YoY

Net Income

$5M

EPS (Diluted)

$0.04

Free Cash Flow

$620M

Revenue / Share

$27.67

Gross Margin

20.7%

Operating Margin

8.7%

Net Margin

0.2%

FCF Margin

19.5%

P/S

0.3x

P/E

172.0x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Dec 31, 2025

$3.0B-3.3%EPS -$0.90

Q4 2025

Feb 24, 2026

$882M+5.6%EPS $0.04

Q3 2025

Oct 27, 2025

$784MEPS $0.05

Q1 2025

Apr 28, 2025

$678MEPS -$0.44

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$303M	-$8M	-$41M
Q1 18	$322M	-$15M	-$50M
Q2 18	$313M	$313M	-$29M
Q4 19	$507M	$131M	$101M
Q1 20	$392M	$43M	$11M
Q4 20	$402M	$78M	$47M
Q1 22	$566M	$10M	-$31M
Q2 22	$690M	$20M	-$20M
Q3 22	$769M	$86M	$35M
Q1 23	$731M	$29M	-$31M
Q3 23	$848M	$116M	$39M
Q4 23	$899M	$243M	$165M
Q4 24	$835M	$305M	$117M
Q1 25	$678M	-$6M	-$10M
Q3 25	$784M	$77M	$68M
Q4 25	$882M	$281M	$100M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q1 18	—	—
Q2 18	0.7x	—
Q4 19	0.6x	—
Q1 20	0.6x	—
Q4 20	0.5x	22.7x
Q1 22	0.5x	—
Q2 22	0.4x	—
Q3 22	0.4x	—
Q1 23	0.3x	—
Q3 23	0.3x	—
Q4 23	0.3x	20.6x
Q4 24	0.3x	18.0x
Q1 25	0.3x	12.7x
Q3 25	0.3x	7.6x
Q4 25	0.3x	172.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	$25M	$1M
Q1 18	$60M	$43M
Q2 18	-$30M	-$72M
Q4 19	$101M	$46M
Q1 20	$137M	$101M
Q4 20	$47M	$6M
Q1 22	$196M	$196M
Q2 22	$158M	$158M
Q3 22	$88M	$88M
Q1 23	$208M	$208M
Q3 23	$145M	$145M
Q4 23	$218M	$218M
Q4 24	$308M	$308M
Q1 25	$140M	$62M
Q3 25	$189M	$84M
Q4 25	$234M	$165M

Capital Expenditures

Quarter	CapEx
Q1 17	$24M
Q1 18	$17M
Q2 18	$42M
Q4 19	$55M
Q1 20	$36M
Q4 20	$41M
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q1 23	$0
Q3 23	$0
Q4 23	$0
Q4 24	$0
Q1 25	$78M
Q3 25	$104M
Q4 25	$68M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	+68.9%	+61.4%
Q1 20	+29.4%	+10.8%
Q4 20	+24.6%	-4.8%
Q1 22	+81.0%	+74.8%
Q2 22	+36.1%	+74.7%
Q3 22	+96.3%	+92.6%
Q1 23	+81.9%	+114.9%
Q3 23	+49.8%	+35.5%
Q4 23	+30.3%	+3.4%
Q4 24	+8.6%	-2.2%
Q1 25	-7.3%	-9.7%
Q3 25	-7.5%	-11.5%
Q4 25	-1.9%	+6.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$115.2K	0.0%
Q1 18	$132.9K	0.0%
Q2 18	$109.1K	0.0%
Q4 19	$0	0.0%
Q1 20	$0	0.0%
Q4 20	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 17	—	$19M	—
Q1 18	—	$20M	—
Q2 18	—	$19M	—
Q4 19	—	—	$30M
Q1 20	—	—	$33M
Q4 20	—	—	$30M
Q1 22	—	$25M	—
Q2 22	—	$28M	—
Q3 22	—	$29M	—
Q1 23	—	$35M	—
Q3 23	—	$49M	—
Q4 23	$146M	$45M	—
Q4 24	—	$36M	—
Q1 25	—	$34M	—
Q3 25	—	$33M	—
Q4 25	—	$41M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$750M	$0	$750M
Q2 22	$751M	$0	$751M
Q3 22	$743M	$0	$743M
Q4 22	$712M	$0	$712M
Q1 23	$704M	$0	$704M
Q2 23	$655M	$0	$655M
Q3 23	$737M	$15M	$752M
Q4 23	$774M	$15M	$789M
Q1 24	$740M	$16M	$756M
Q2 24	$748M	$16M	$764M
Q3 24	$775M	$46M	$821M
Q4 24	$899M	$46M	$945M
Q1 25	$847M	$15M	$862M
Q2 25	$772M	$17M	$789M
Q3 25	$771M	$15M	$786M
Q4 25	$754M	$20M	$774M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	101M	-0.0%	—
Q1 18	101M	+0.0%	—
Q2 18	101M	0.0%	—
Q4 19	101M	0.0%	0.0%
Q1 20	101M	-0.0%	0.0%
Q4 20	105M	+3.8%	+3.8%
Q1 22	117M	+11.0%	+15.2%
Q2 22	117M	+0.0%	+15.2%
Q3 22	117M	-0.0%	+15.2%
Q1 23	117M	0.0%	+11.0%
Q3 23	117M	-0.0%	-0.0%
Q4 23	117M	+0.0%	-0.0%
Q4 24	117M	-0.0%	-0.0%
Q1 25	115M	-1.3%	-1.4%
Q3 25	116M	+1.1%	-0.2%
Q4 25	115M	-1.2%	-1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	$66.5K	5K
Q1 18	$67.9K	5K
Q2 18	$65.8K	5K
Q4 19	$102.4K	5K
Q1 20	$79.1K	5K
Q4 20	$82.9K	5K
Q1 22	$84.3K	7K
Q2 22	$102.8K	7K
Q3 22	$114.5K	7K
Q1 23	$99.3K	7K
Q3 23	$115.2K	7K
Q4 23	$124.9K	7K
Q4 24	$121.0K	7K
Q1 25	$98.2K	7K
Q3 25	$113.6K	7K
Q4 25	$127.8K	7K

Revenue / Employee