Frontier Group Holdings (ULCC) Operating Expenses (2020 - 2026)
Frontier Group Holdings (ULCC) reported Operating Expenses of $1.38 billion for Q2 2026, up 37.1% from $1 billion a year earlier and up 7.9% from the prior quarter.
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Analysis
Frontier Group Holdings (ULCC) Operating Expenses (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Frontier Group Holdings' Operating Expenses came in at $4.56 billion, up 19.0% year-over-year; for FY2025, it was $3.87 billion, up 4.2% from FY2024.
- Operating Expenses has increased for five consecutive years, with a five-year compound annual growth rate of 19.1% (FY2020 to FY2025).
- By year, Operating Expenses came in at $3.72 billion in FY2024 (+3.5%), $3.59 billion in FY2023 (+6.6%), $3.37 billion in FY2022 (+54.8%) and $2.18 billion in FY2021 (+34.8%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q1 2020.
- Year over year, Operating Expenses gained in six of the last eight quarters, with growth averaging 11.5%.
- The high point for year-over-year Operating Expenses in five years was Q1 2022 (growth of 108.8%); the low point was Q3 2024 (a decline of 2.2%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $1.28 billion (Q1 2026), $948 million (Q4 2025) and $963 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.85 Bn | 157.37 Bn | - | 4.10 Bn |
| 2 | Csx | 86.62 Bn | 82.84 Bn | - | 2.43 Bn |
| 3 | Canadian Pacific Kansas City | 76.11 Bn | 75.83 Bn | - | 1.95 Bn |
| 4 | United Parcel Service | 70.66 Bn | 47.58 Bn | - | 21.90 Bn |
| 5 | Norfolk Southern | 70.32 Bn | 64.96 Bn | - | 2.34 Bn |
| 6 | Fedex | 68.53 Bn | 34.48 Bn | - | 23.46 Bn |
| 7 | Delta Air Lines | 55.25 Bn | 37.43 Bn | - | 17.89 Bn |
| 8 | Old Dominion Freight Line | 36.69 Bn | 35.95 Bn | - | 1.09 Bn |
| 9 | Ryanair Holdings | 28.78 Bn | 12.78 Bn | 3.13 Bn | 4.43 Bn |
| 10 | Frontier Group Holdings | 1.40 Bn | -1.56 Bn | - | 1.38 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.38 Bn |
| Mar 31, 2026 | 1.28 Bn |
| Dec 31, 2025 | 948.00 Mn |
| Sep 30, 2025 | 963.00 Mn |
| Jun 30, 2025 | 1.00 Bn |
| Mar 31, 2025 | 958.00 Mn |
| Dec 31, 2024 | 957.00 Mn |
| Sep 30, 2024 | 916.00 Mn |
| Jun 30, 2024 | 948.00 Mn |
| Mar 31, 2024 | 896.00 Mn |
| Dec 31, 2023 | 894.00 Mn |
| Sep 30, 2023 | 937.00 Mn |
| Jun 30, 2023 | 888.00 Mn |
| Mar 31, 2023 | 873.00 Mn |
| Dec 31, 2022 | 861.00 Mn |
| Sep 30, 2022 | 850.00 Mn |
| Jun 30, 2022 | 902.00 Mn |
| Mar 31, 2022 | 758.00 Mn |
| Dec 31, 2021 | 695.00 Mn |
| Sep 30, 2021 | 587.00 Mn |
API Access
Frontier Group Holdings Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ULCC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ULCC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ULCC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();