Debt-to-Equity Ratio

Spirit Airlines' debt-to-equity ratio of -0.57x means the company's total liabilities exceed its total shareholders' equity, resulting in negative equity—a sign that the company has more debt than assets financed by equity.

This ratio sits far below the sector median of 0.63x, placing Spirit in the 3rd percentile among its Industrials peers, indicating a much higher reliance on debt relative to equity than most competitors. Neither year-over-year nor quarter-over-quarter changes are available for this metric, so no trend direction can be assessed from the data provided. The combination of a deeply negative debt-to-equity level with no observable trend points to elevated financial risk, as negative equity often signals distress or accumulated losses, but the absence of trend data leaves uncertainty about whether the situation is improving or worsening. This metric contradicts the overall NEUTRAL verdict, because a negative debt-to-equity ratio typically suggests a higher risk profile that would lean bearish rather than neutral.

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