A Business at a Glance
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AIR LEASE CORP
AL
$7.2B
Mkt Cap
AIR LEASE CORP (AL) has a current P/E ratio of 7.0, compared to its historical median P/E of 8.4. The stock is currently considered Fair based on its historical valuation range.
AIR LEASE CORP (AL) has a 5-year average return on invested capital (ROIC) of 4.0%. This is below average and may indicate limited pricing power.
AIR LEASE CORP (AL) has a market capitalization of $7.3B. It is classified as a mid-cap stock.
Yes, AIR LEASE CORP (AL) pays a dividend with a trailing twelve-month yield of 1.35%.
Based on historical P/E analysis, AIR LEASE CORP (AL) appears fair. The current P/E of 7.0 is 17% below its historical median of 8.4. The estimated fair value CAGR (P/E method) is 2.0%.
AIR LEASE CORP (AL) operates in the Services-Equipment Rental & Leasing, Nec industry, within the Industrials sector.
AIR LEASE CORP (AL) reported annual revenue of $3.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
Air Lease Corporation (the “Company”, “AL”, “we”, “our” or “us”) is a leading aircraft leasing company that was founded by aircraft leasing industry pioneer, Steven F. Udvar-Házy. We are principally engaged in purchasing the most modern, fuel-efficient new technology commercial jet aircraft directly from aircraft manufacturers, such as Airbus S.A.S. (“Airbus”) and The Boeing Company (“Boeing”), and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. In addition to our leasing activities, we sell aircraft from our fleet to third parties, including other leasing companies, financial services companies, airlines and other investors. We also provide fleet management services to investors and owners of aircraft portfolios for a management fee.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.0B | 3.0B | 2.7B | 2.7B | 2.3B | 2.1B |
| Net Income | 794M | 1.0B | 372M | 573M | -139M | 408M |
| EPS | $7.07 | $9.29 | $3.33 | $5.14 | $-1.24 | $3.57 |
| Free Cash Flow | 1.6B | 1.5B | 1.3B | 1.4B | 1.2B | 1.1B |
| ROIC | 0.0% | 6.2% | 3.9% | 4.6% | 1.5% | 3.8% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 2.28 | 2.49 | 2.68 | 2.68 | 2.80 | 2.43 |
| Dividends/Share | $0.87 | $0.88 | $0.85 | $0.81 | $0.76 | $0.67 |
| Operating Income | 0 | 2.2B | 1.3B | 1.4B | 366M | 1.0B |
| Operating Margin | 0.0% | 73.2% | 47.6% | 52.9% | 15.8% | 49.1% |
| ROE | 9.3% | 13.0% | 5.1% | 8.3% | -2.0% | 6.2% |
| Shares Outstanding | 112M | 112M | 112M | 111M | 112M | 114M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 1.2B | 1.4B | 1.5B | 1.7B | 2.0B | 2.0B | 2.1B | 2.3B | 2.7B | 2.7B | 3.0B | 3.0B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 82M | 77M | 83M | 91M | 97M | 124M | 96M | 125M | 157M | 186M | 186M | 219M | 220M |
| EBIT | 615M | 659M | 866M | 897M | 983M | 1.2B | 1.1B | 1.0B | 366M | 1.4B | 1.3B | 2.2B | 0 |
| Op. Margin | 58.6% | 53.9% | 61.1% | 59.1% | 58.5% | 57.4% | 54.9% | 49.1% | 15.8% | 52.9% | 47.6% | 73.2% | 0.0% |
| Net Income | 256M | 253M | 375M | 756M | 511M | 575M | 501M | 408M | -139M | 573M | 372M | 1.0B | 794M |
| Net Margin | 24.4% | 20.7% | 26.4% | 49.9% | 30.4% | 28.5% | 24.9% | 19.5% | -6.0% | 21.3% | 13.6% | 34.6% | 26.3% |
| Non-Recurring | 56M | 34M | 61M | 74M | 34M | 89M | 35M | 46M | 885M | 227M | 228M | 261M | 261M |
| Returns on Capital | |||||||||||||
| ROIC | 4.6% | 4.3% | 5.0% | 7.1% | 5.3% | 5.3% | 4.4% | 3.8% | 1.5% | 4.6% | 3.9% | 6.2% | 0.0% |
| ROE | 9.7% | 8.7% | 11.7% | 20.1% | 11.4% | 11.0% | 8.6% | 6.2% | -2.0% | 8.3% | 5.1% | 13.0% | 9.3% |
| ROA | 2.6% | 2.2% | 2.8% | 5.1% | 3.0% | 2.9% | 2.1% | 1.6% | -0.5% | 1.9% | 1.2% | 3.2% | 2.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 769M | 840M | 1.0B | 1.1B | 1.3B | 1.4B | 1.1B | 1.4B | 1.4B | 1.7B | 1.7B | 1.7B | 1.8B |
| Free Cash Flow | -1.0B | -1.5B | -1.1B | -1.1B | -1.5B | 1.1B | 929M | 1.1B | 1.2B | 1.4B | 1.3B | 1.5B | 1.6B |
| Owner Earnings | 416M | 425M | 550M | 532M | 655M | 669M | 292M | 468M | 401M | 643M | 499M | 462M | 579M |
| CapEx | 1.8B | 2.3B | 2.1B | 2.1B | 2.8B | 291M | 161M | 230M | 217M | 305M | 387M | 238M | 223M |
| Maint. CapEx | 337M | 398M | 453M | 508M | 582M | 703M | 781M | 883M | 966M | 1.1B | 1.1B | 1.2B | 1.2B |
| Growth CapEx | 1.5B | 1.9B | 1.7B | 1.6B | 2.2B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 337M | 398M | 453M | 508M | 582M | 703M | 781M | 883M | 966M | 1.1B | 1.1B | 1.2B | 1.2B |
| CapEx/OCF | N/A | 274.9% | 208.4% | 202.8% | 22.9% | 20.9% | 14.8% | 16.7% | 15.7% | 17.5% | 23.1% | 13.7% | 12.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 12M | 16M | 21M | 31M | 42M | 58M | 68M | 73M | 83M | 89M | 93M | 98M | 98M |
| Dividend Yield | 0.4% | 0.5% | 0.7% | 0.8% | 1.0% | 1.5% | 2.0% | 1.6% | 2.1% | 2.1% | 1.9% | 1.6% | 1.4% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.8M | 150M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1% | 3.8% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 16M | 17M | 17M | 20M | 17M | 21M | 18M | 27M | 16M | 35M | 34M | 49M | 36M |
| Debt Repayment | 577M | 328M | 1.1B | 1.3B | 1.3B | 978M | 1.7B | 3.2B | 2.1B | 2.6B | 3.2B | 2.8B | 2.8B |
| Balance Sheet | |||||||||||||
| Net Debt | 6.3B | 7.6B | 8.4B | 9.4B | 11.2B | 13.3B | 14.8B | 15.9B | 17.9B | 18.7B | 19.7B | 20.6B | 19.0B |
| Cash & Equiv. | 283M | 157M | 275M | 292M | 300M | 317M | 1.7B | 1.1B | 766M | 461M | 473M | 466M | 554M |
| Long-Term Debt | 6.6B | 7.7B | 8.7B | 9.7B | 11.5B | 13.6B | 16.5B | 17.0B | 18.6B | 19.2B | 20.2B | 19.7B | 19.8B |
| Debt/Equity | 2.39 | 2.55 | 2.58 | 2.35 | 2.40 | 2.41 | 2.72 | 2.43 | 2.80 | 2.68 | 2.68 | 2.49 | 2.28 |
| Interest Coverage | 2.8 | 2.5 | 3.0 | 3.1 | 2.9 | 2.7 | 2.3 | 2.0 | 0.7 | 2.0 | 1.6 | 2.5 | 2.5 |
| Equity | 2.8B | 3.0B | 3.4B | 4.1B | 4.8B | 5.6B | 6.1B | 7.0B | 6.6B | 7.2B | 7.5B | 8.5B | 8.5B |
| Total Assets | 10.7B | 12.4B | 14.0B | 15.6B | 18.5B | 21.7B | 25.2B | 27.0B | 28.4B | 30.5B | 32.3B | 32.9B | 33.2B |
| Total Liabilities | 7.9B | 9.3B | 10.6B | 11.5B | 13.7B | 16.1B | 19.1B | 20.0B | 21.8B | 23.3B | 24.7B | 24.4B | 24.6B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 556M | 792M | 1.1B | 1.9B | 2.3B | 2.8B | 3.3B | 3.6B | 3.4B | 3.9B | 4.1B | 5.1B | 5.2B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.3B | N/A | 1.1B |
| Per Share Data | |||||||||||||
| EPS | 2.38 | 2.34 | 3.44 | 6.82 | 4.60 | 5.09 | 4.39 | 3.57 | -1.24 | 5.14 | 3.33 | 9.29 | 7.07 |
| Owner EPS | 3.87 | 3.92 | 5.05 | 4.79 | 5.89 | 5.92 | 2.56 | 4.09 | 3.58 | 5.77 | 4.47 | 4.11 | 5.15 |
| Book Value | 25.77 | 27.89 | 31.03 | 37.23 | 43.29 | 49.77 | 53.22 | 61.30 | 59.41 | 64.24 | 67.42 | 75.39 | 76.00 |
| Cash Flow/Share | 7.15 | 7.76 | 9.36 | 9.56 | 11.29 | 12.32 | 9.55 | 12.04 | 12.35 | 15.67 | 15.01 | 15.43 | 18.03 |
| Dividends/Share | 0.13 | 0.17 | 0.23 | 0.33 | 0.43 | 0.54 | 0.61 | 0.67 | 0.76 | 0.81 | 0.85 | 0.88 | 0.87 |
| Shares Out. | 107.6M | 108.3M | 109.0M | 110.9M | 111.1M | 113.0M | 114.1M | 114.3M | 111.9M | 111.5M | 111.7M | 112.4M | 112.5M |
| Valuation | |||||||||||||
| P/E Ratio | 12.4 | 12.2 | 8.6 | 6.1 | 5.7 | 8.4 | 9.0 | 11.5 | N/A | 7.9 | 14.4 | 6.9 | 9.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 4.4 | 4.9 | 4.1 | 3.4 | 3.1 | 4.2 | 4.8 | 4.5 |
| EV/EBIT | 15.0 | 15.9 | 13.1 | 15.3 | 14.6 | 15.9 | 15.9 | 19.1 | 57.6 | 16.7 | 19.6 | 12.0 | N/A |
| Price/Book | 1.1 | 1.0 | 1.0 | 1.1 | 0.6 | 0.9 | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.8 | 0.9 |
| Price/Sales | 3.1 | 2.7 | 2.0 | 2.5 | 2.5 | 2.0 | 1.7 | 2.2 | 1.7 | 1.6 | 1.8 | 2.1 | 2.4 |
| FCF Yield | -32.8% | -47.5% | -34.3% | -23.5% | -53.5% | 22.8% | 20.6% | 24.4% | 29.6% | 31.9% | 24.1% | 20.8% | 22.3% |
| Market Cap | 3.2B | 3.1B | 3.2B | 4.6B | 2.9B | 4.8B | 4.5B | 4.7B | 3.9B | 4.5B | 5.4B | 7.2B | 7.3B |
| Avg. Price | 30.49 | 30.01 | 25.58 | 34.18 | 37.48 | 35.25 | 29.25 | 40.35 | 35.42 | 38.16 | 44.71 | 55.03 | 64.70 |
| Year-End Price | 29.50 | 28.55 | 29.60 | 41.88 | 26.04 | 42.73 | 39.52 | 41.13 | 35.21 | 40.51 | 47.99 | 63.99 | 64.70 |
AIR LEASE CORP passes 2 of 9 quality checks, indicating weak fundamentals.
AIR LEASE CORP trades at 7.0x trailing earnings, compared to its 15-year median P/E of 8.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 4.8x vs a median of 4.2x. The company's 5-year average ROIC is 4.0%. Total shareholder yield (dividends) is 1.4%. At current prices, the estimated annualized return to fair value is +10.0%.
AIR LEASE CORP (AL) has a net profit margin of 34.6%. This is a strong margin indicating high profitability.
AIR LEASE CORP (AL) generated $1.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AIR LEASE CORP (AL) has a debt-to-equity ratio of 2.49. This indicates higher leverage, which may increase financial risk.
AIR LEASE CORP (AL) reported earnings per share (EPS) of $9.29 in its most recent fiscal year.
AIR LEASE CORP (AL) has a return on equity (ROE) of 13.0%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for AIR LEASE CORP (AL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AIR LEASE CORP (AL) has a book value per share of $75.39, based on its most recent annual SEC filing.