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Sky Harbour Group (SKYH) Fair Value & Analysis

Real Estate · US · Market cap $727M

SH Sky Harbour Group logo Sky Harbour Group SKYH · US
Price$11.20
Fair Value$5.67
Upside-49.4%
Quality18/100
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Mixed Growth
Highly profitable · 64.0% net margin
Moderate debt · negative free cash flow
Trails peers (3/11)
Narrow moat 30/100
Evidence: Low Range $4.25 – $7.09 Share as image

Fair value as of: Jul 24, 2026

From 7 valuation models · updated 17 days ago

Share price +11.3% over the past month.

Below-average quality, and screening another 49% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($7.09). The favourable scenario is already priced in.
  • Weak quality (18/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$35.72 $2.54 Fair Value $5.67 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $2.54 – $35.72 · fair‑value band $4.25 – $7.09 · the $11.20 price screens above the $5.67 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Sky Harbour Group (SKYH) currently trades at $11.20, while our model-based Fair Value estimate is $5.67, implying the stock looks roughly 49.4% overvalued today. The Quality Score stands at 18/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Sky Harbour Group generated revenue of $30.7M at a net margin of 64.0%. Revenue grew 56.0% year over year. It earns a return on equity of 4.7%. Net debt stands at $353M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $4.25 (bear case) to $7.09 (bull case); at $11.20, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -49%, SKYH screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth-Adj P/E $5.24 $7.48 $9.72 68
P/E Multiple $7.37 $9.82 $12.28 63
Residual Income $3.46 $4.19 $8.44 61
All 7 models by family
Earnings-Based
Graham-Dodd $3.71 $4.54 $5.10 54
Multiples
P/E Multiple $7.37 $9.82 $12.28 63
P/S Multiple $1.50 $2.00 $2.50 58
P/B Multiple $5.00 $6.67 $8.34 55
Asset-Based
NCAV (Graham) $1.85 $2.48 $3.70 50
Economic Profit
Residual Income $3.46 $4.19 $8.44 61
Growth Earnings
Growth-Adj P/E $5.24 $7.48 $9.72 68

Widest divergence: Growth Earnings ($7.48) versus Asset-Based ($2.48). Highest evidence: Growth-Adj P/E (68).

Key figures & financial health

Revenue (TTM) $30.7M
Revenue growth (YoY) +56.0%
Net margin 64.0%
Return on equity 4.7%
Free cash flow −$86.5M FY2025
P/E ratio 79.2
More key figures
Operating margin -79.9%
EPS (TTM) $0.1200
EPS growth (YoY) +198%
Net debt $353M FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 18/100

Of which business quality 22 · Market factors (momentum, volatility) 56

Profitability 38
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company's home basing hangar campuses includes private and semi-private hangars, as well as a suite of services for home based and transient aircraft.

Full company description

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company's home basing hangar campuses includes private and semi-private hangars, as well as a suite of services for home based and transient aircraft. The company is based in White Plains, New York.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sky Harbour Group reported revenue of $27.5M in FY2025 versus −$2.5B in FY2021. Reported net income was $18.8M in FY2025, compounding +20.1%/yr from FY2021.

Growth Quality 46/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$27.5M
Latest YoY
+86.6%
Avg. growth/yr (3Y)
+146.2%
Avg. growth/yr (5Y)
+109.3%
Revenue
FY21 −$2.5B
FY22 $1.8M
FY23 $7.6M
FY24 $14.8M
FY25 $27.5M
Net income +20.1%/yr
FY21 $9.0M
FY22 −$3.2M
FY23 −$16.2M
FY24 −$45.2M
FY25 $18.8M

SKYH screens 49% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Sky Harbour Group Fair Value". https://www.fairvalue-calculator.com/stock/SKYH

Peer Group

Real Estate - Development · 588 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 19 · Bottom 25%
Fair Value upside −49% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets -3% · Bottom 25%
Net margin (TTM) 64% · Top 25%
Operating margin (TTM) -80% · Bottom 25%
Revenue growth 56% · Top 25%
Debt / equity 1.43× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 79.2× · Pricier than 75% of peers
P/B 5.69× · Pricier than 75% of peers
P/S (TTM) 23.72× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 48
FUTURE 100 · sector 0
PAST 19 · sector 10
HEALTH 28 · sector 84
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Sky Harbour Group (SKYH) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $5.67 versus a price of $11.20, about −49% (overvalued).
What is the fair value of SKYH?
Our model-based fair value for Sky Harbour Group is $5.67 (as of Jul 24, 2026), built from audited fundamentals. The current price is $11.20.
What is the quality score of SKYH?
Sky Harbour Group has a Quality Score of 18/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Sky Harbour Group (SKYH)?
Sky Harbour Group reported trailing-twelve-month revenue of about $30.7M (latest available figure, as of Jul 24, 2026).
What is the net profit margin of SKYH?
The net profit margin of Sky Harbour Group is about 64.0%, meaning it keeps roughly 64.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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