NASDAQ : FTAI
FTAI Aviation Ltd. — Financial statements
Industrials · Rental & Leasing Services · United States
Last price 187.27 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 19.19B
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Financial statements
FTAI Aviation Ltd. (FTAI) reported revenue of 3.42B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 3.36B | 2.39B | 1.54B | 854.25M | 506.68M | 325.98M |
| Other Revenue | 62.28M | 117.46M | 198.93M | 316.64M | 201.74M | 9.60M |
| Revenue | 3.42B | 2.51B | 1.73B | 1.17B | 708.41M | 335.58M |
| Cost of Revenue | 2.37B | 1.50B | 941.75M | 612.29M | 380.65M | 73.92M |
| Gross Profit | 1.05B | 1.01B | 793.16M | 558.60M | 327.76M | 261.66M |
| Selling, General & Admin | 9.05M | 9.48M | 22.71M | 31.74M | 17.73M | 14.13M |
| Operating Expenses | 248.81M | 235.28M | 240.78M | 201.61M | 170.64M | 161.87M |
| Operating Income | 799.85M | 769.87M | 552.38M | 356.99M | 157.12M | 99.79M |
| Interest Expense | -251.59M | -247.75M | -221.72M | -161.64M | -169.19M | -155.02M |
| Earnings From Equity Investments | 34.56M | -6.82M | -2.20M | -1.61M | -369.00K | -1.40M |
| Other Non Operating Income (Expenses) | 12.81M | 19.29M | 6.56M | 7.59M | 207.00K | -490.00K |
| EBT Excluding Unusual Items | 595.63M | 534.59M | 335.02M | 201.33M | -12.24M | -57.12M |
| Merger & Restructuring Charges | -36.83M | -28.59M | -332.30M | -15.19M | -13.21M | -17.91M |
| Gain (Loss) on Sale of Assets | 13.93M | 46.38M | 18.70M | 77.21M | 49.02M | |
| Asset Writedown | -962.00K | -2.12M | -137.22M | -10.46M | ||
| Other Unusual Items | -17.10M | -19.86M | -3.25M | |||
| Pretax Income | 627.03M | 606.68M | 14.17M | 184.02M | -105.31M | -39.73M |
| Income Tax Expense | 97.87M | 105.62M | 5.49M | -59.80M | 5.30M | 3.13M |
| Earnings From Continuing Operations | 529.16M | 501.06M | 8.68M | 243.82M | -110.61M | -42.86M |
| Earnings From Discontinued Operations | -82.60M | -61.37M | ||||
| Net Income to Company | 529.16M | 501.06M | 8.68M | 243.82M | -193.21M | -104.23M |
| Net Income | 529.16M | 501.06M | 8.68M | 243.82M | -193.21M | -104.23M |
| Preferred Dividends & Other Adjustments | 16.47M | 23.57M | 40.76M | 31.80M | 27.16M | 24.76M |
| Net Income to Common | 512.69M | 477.49M | -32.08M | 212.02M | -220.37M | -128.99M |
| Shares Outstanding (Basic) | 102.60M | 102.56M | 101.54M | 99.91M | 99.42M | 89.92M |
| Shares Outstanding (Diluted) | 103.93M | 103.85M | 101.54M | 100.43M | 99.42M | 89.92M |
| EPS (Basic) | 5.00 | 4.66 | -0.32 | 2.12 | -2.22 | -1.43 |
| EPS (Diluted) | 4.93 | 4.60 | -0.32 | 2.11 | -2.22 | -1.43 |
| Free Cash Flow | -1.06B | -1.42B | -649.47M | -806.07M | -606.73M | |
| Free Cash Flow Per Share | -10.17 | -14.02 | -6.47 | -8.11 | -6.75 | |
| Dividend Per Share | 1.85 | 1.35 | 1.20 | 1.20 | 1.26 | 1.32 |
| Gross Margin | 30.63% | 40.09% | 45.72% | 47.71% | 46.27% | 77.97% |
| Operating Margin | 23.36% | 30.70% | 31.84% | 30.49% | 22.18% | 29.74% |
| Profit Margin | 14.98% | 19.04% | -1.85% | 18.11% | -31.11% | -38.44% |
| Free Cash Flow Margin | -42.11% | -82.02% | -55.47% | -113.79% | -180.80% | |
| EBITDA | 997.08M | 1.00B | 786.04M | 541.99M | 364.29M | 306.54M |
| EBITDA Margin | 29.12% | 39.98% | 45.31% | 46.29% | 51.42% | 91.34% |
| D&A For EBITDA | 197.23M | 232.51M | 233.66M | 185.00M | 207.17M | 206.75M |
| EBIT | 799.85M | 769.87M | 552.38M | 356.99M | 157.12M | 99.79M |
| EBIT Margin | 23.36% | 30.70% | 31.84% | 30.49% | 22.18% | 29.74% |
| Effective Tax Rate | 15.61% | 17.41% | 38.73% | |||
| Revenue as Reported | 3.42B | 2.51B | 1.73B | 1.17B | 708.41M | 335.58M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 385.62M | 300.48M | 115.12M | 90.76M | 33.56M | 138.21M |
| Cash & Short-Term Investments | 385.62M | 300.48M | 115.12M | 90.76M | 33.56M | 138.21M |
| Accounts Receivable | 155.64M | 226.74M | 150.82M | 115.16M | 105.84M | 132.52M |
| Other Receivables | 3.09M | 37.74M | 32.49M | 37.90M | 46.90M | |
| Receivables | 158.72M | 480.78M | 348.65M | 217.46M | 192.94M | 201.82M |
| Inventory | 1.93B | 1.19B | 551.16M | 316.64M | 163.68M | 100.31M |
| Prepaid Expenses | 79.81M | 87.32M | 7.62M | 1.90M | 4.00M | |
| Restricted Cash | 19.50M | |||||
| Other Current Assets | 467.04M | 57.69M | 123.78M | 38.96M | 2.44B | |
| Total Current Assets | 2.94B | 2.11B | 1.23B | 671.43M | 411.58M | 2.89B |
| Property, Plant & Equipment | 180.77M | 120.07M | 107.45M | 45.17M | 13.01M | 42.06M |
| Long-Term Investments | 400.88M | 314.16M | 19.05M | 22.72M | 22.04M | 22.92M |
| Goodwill | 94.22M | 94.22M | 61.07M | 4.63M | ||
| Other Intangible Assets | 12.48M | 26.30M | 68.11M | 60.22M | 48.76M | 36.06M |
| Long-Term Accounts Receivable | 19.11M | 28.41M | ||||
| Long-Term Deferred Tax Assets | 31.92M | 42.89M | 72.19M | 1.31M | ||
| Other Long-Term Assets | 1.17B | 1.66B | 2.48B | 2.09B | 1.93B | 1.87B |
| Total Assets | 4.81B | 4.37B | 4.04B | 2.96B | 2.43B | 4.86B |
| Accounts Payable | 179.87M | 208.22M | 69.12M | 41.59M | 81.71M | 83.26M |
| Accrued Expenses | 225.38M | 90.01M | 96.91M | 71.32M | 53.00K | 1.50M |
| Current Portion of Long-Term Debt | 100.53M | |||||
| Current Portion of Leases | 8.80M | |||||
| Other Current Liabilities | 131.78M | 92.84M | 181.22M | 68.94M | 116.22M | 1.13B |
| Total Current Liabilities | 771.02M | 399.88M | 347.25M | 181.84M | 197.98M | 1.31B |
| Long-Term Debt | 3.46B | 3.45B | 3.44B | 2.52B | 2.18B | 2.40B |
| Long-Term Leases | 39.00M | |||||
| Long-Term Deferred Tax Liabilities | 3.25M | |||||
| Other Long-Term Liabilities | 146.44M | 151.82M | 168.86M | 89.62M | 33.21M | 23.89M |
| Total Liabilities | 4.37B | 4.04B | 3.96B | 2.79B | 2.41B | 3.74B |
| Common Stock | 1.02M | 1.03M | 1.03M | 1.00M | 997.00K | 992.00K |
| Additional Paid-In Capital | 50.57M | 153.33M | 255.97M | 343.35M | 1.41B | |
| Retained Earnings | 432.31M | 282.51M | -73.10M | -81.78M | -325.60M | -132.39M |
| Comprehensive Income & Other | -156.38M | |||||
| Total Common Equity | 433.33M | 334.11M | 81.25M | 175.19M | 18.75M | 1.12B |
| Minority Interest | 534.00K | 524.00K | -192.00K | |||
| Shareholders' Equity | 433.36M | 334.17M | 81.37M | 175.88M | 19.40M | 1.12B |
| Total Liabilities & Equity | 4.81B | 4.37B | 4.04B | 2.96B | 2.43B | 4.86B |
| Total Debt | 3.46B | 3.50B | 3.44B | 2.52B | 2.18B | 2.50B |
| Net Cash (Debt) | -3.07B | -3.20B | -3.33B | -2.43B | -2.14B | -2.36B |
| Net Cash Per Share | -29.54 | -30.78 | -32.75 | -24.16 | -21.55 | -26.28 |
| Filing Date Shares Outstanding | 102.45M | 102.57M | 102.55M | 100.25M | 99.73M | 99.19M |
| Total Common Shares Outstanding | 102.45M | 102.57M | 102.55M | 100.25M | 99.72M | 99.18M |
| Working Capital | 2.17B | 1.71B | 878.77M | 489.59M | 213.60M | 1.57B |
| Book Value Per Share | 4.23 | 3.26 | 0.79 | 1.75 | 0.19 | 11.33 |
| Tangible Book Value | 326.63M | 213.58M | -47.93M | 110.34M | -30.01M | 1.09B |
| Tangible Book Value Per Share | 3.19 | 2.08 | -0.47 | 1.10 | -0.30 | 10.97 |
| Machinery | 1.37M | |||||
| Construction In Progress | 36.78M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 501.06M | 8.68M | 243.82M | -193.21M | -104.23M | |
| Depreciation & Amortization | 232.51M | 233.66M | 185.00M | 207.17M | 206.75M | |
| Other Amortization | 46.94M | 39.83M | 37.50M | 42.22M | 44.71M | |
| Loss (Gain) From Sale of Assets | -423.92M | -377.91M | -160.74M | -141.68M | -49.03M | |
| Asset Writedown & Restructuring Costs | 962.00K | 2.12M | 137.22M | 10.46M | ||
| Loss (Gain) on Equity Investments | 6.82M | 2.20M | 1.61M | 46.97M | 12.73M | |
| Stock-Based Compensation | 21.73M | 6.01M | 1.64M | 2.62M | 4.04M | |
| Provision & Write-off of Bad Debts | 574.00K | 2.78M | 6.58M | 47.98M | 12.95M | |
| Other Operating Activities | 6.03M | 150.25M | -112.61M | -41.22M | -67.00M | |
| Change in Accounts Receivable | -42.42M | -41.20M | -40.36M | -65.97M | -88.87M | |
| Change in Inventory | -645.46M | -206.88M | -31.88M | -23.27M | ||
| Change in Accounts Payable | 122.78M | 15.89M | 1.25M | -19.60M | 25.08M | |
| Change in Other Net Operating Assets | -137.39M | -22.23M | -4.94M | -19.89M | -29.63M | |
| Operating Cash Flow | -310.75M | -187.96M | 128.98M | -20.66M | -22.04M | |
| Capital Expenditures | -745.15M | -1.24B | -778.45M | -785.42M | -584.69M | |
| Sale of Property, Plant & Equipment | 1.71B | 969.28M | 477.89M | 414.23M | 5.09M | |
| Cash Acquisitions | -49.09M | -147.62M | -29.63M | -3.82M | -627.09M | |
| Sale (Purchase) of Intangibles | 2.51M | 3.17M | -20.96M | -31.13M | -24.02M | |
| Investment in Securities | -301.43M | -19.50M | -7.34M | -54.66M | ||
| Other Investing Activities | 105.19M | 5.46M | -6.33M | -8.99M | ||
| Investing Cash Flow | 723.31M | -469.50M | -373.35M | -411.25M | -1.29B | |
| Long-Term Debt Issued | 480.00M | 2.58B | 951.66M | 813.98M | 2.89B | |
| Long-Term Debt Repaid | -480.00M | -1.67B | -605.00M | -1.14B | -1.55B | |
| Net Debt Issued (Repaid) | 909.51M | 346.67M | -330.55M | 1.34B | ||
| Issuance of Common Stock | 5.00K | 323.12M | ||||
| Preferred Dividends Paid | -17.24M | -32.76M | -31.80M | -27.16M | -24.76M | |
| Common Dividends Paid | -128.21M | -121.58M | -119.85M | -128.48M | -118.01M | |
| Dividends Paid | -145.45M | -154.34M | -151.64M | -155.65M | -142.77M | |
| Other Financing Activities | 42.41M | 31.99M | 25.45M | 531.11M | -34.81M | |
| Financing Cash Flow | -227.21M | 681.81M | 282.21M | 44.91M | 1.59B | |
| Net Cash Flow | 185.36M | 24.36M | 37.84M | -387.00M | 278.64M | |
| Free Cash Flow | -1.06B | -1.42B | -649.47M | -806.07M | -606.73M | |
| Free Cash Flow Margin | -42.11% | -82.02% | -55.47% | -113.79% | -180.80% | |
| Free Cash Flow Per Share | -10.17 | -14.02 | -6.47 | -8.11 | -6.75 | |
| Levered Free Cash Flow | -772.45M | -1.11B | -671.98M | 782.04M | -1.96B | |
| Unlevered Free Cash Flow | -629.41M | -983.46M | -579.82M | 868.77M | -1.88B | |
| Cash Interest Paid | 235.16M | 222.12M | 150.62M | 185.14M | 142.20M | |
| Cash Income Tax Paid | 15.66M | 5.66M | 1.39M | 3.28M | 402.00K | |
| Change in Working Capital | -702.50M | -254.42M | -75.93M | -128.73M | -93.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 20.22B | 20.19B | 14.77B | 4.65B | 1.70B | 2.87B |
| Enterprise Value | 23.29B | 23.17B | 17.90B | 6.88B | 3.65B | 5.76B |
| Last Close Price | 197.75 | 195.75 | 141.83 | 45.07 | 16.00 | 21.57 |
| PE Ratio | 40.11 | 42.29 | 21.94 | |||
| Forward PE | 18.36 | 30.96 | 31.29 | 25.00 | 9.87 | 22.24 |
| PS Ratio | 5.91 | 8.05 | 8.51 | 3.97 | 2.40 | 8.55 |
| PB Ratio | 46.75 | 60.42 | 181.54 | 26.44 | 87.69 | 2.55 |
| P/TBV Ratio | 61.91 | 94.54 | 42.15 | 2.64 | ||
| P/OCF Ratio | 36.06 | |||||
| PEG Ratio | 0.50 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| EV/Sales Ratio | 6.80 | 9.24 | 10.32 | 5.87 | 5.16 | 17.16 |
| EV/EBITDA Ratio | 23.36 | 23.11 | 22.77 | 12.69 | 10.03 | 18.78 |
| EV/EBIT Ratio | 29.12 | 30.09 | 32.40 | 19.27 | 23.25 | 57.69 |
| Debt / Equity Ratio | 7.97 | 10.46 | 42.28 | 14.31 | 112.14 | 2.23 |
| Debt / EBITDA Ratio | 3.47 | 3.49 | 4.38 | 4.64 | 5.97 | 8.16 |
| Net Debt / Equity Ratio | 7.08 | 9.56 | 40.87 | 13.80 | 110.41 | 2.10 |
| Net Debt / EBITDA Ratio | 3.08 | 3.19 | 4.23 | 4.48 | 5.88 | 7.71 |
| Net Debt / FCF Ratio | -3.03 | -2.34 | -3.74 | -2.66 | -3.90 | |
| Asset Turnover | 0.76 | 0.60 | 0.49 | 0.43 | 0.19 | 0.08 |
| Inventory Turnover | 1.68 | 1.72 | 2.17 | 2.55 | 2.88 | 0.93 |
| Quick Ratio | 0.71 | 1.41 | 0.86 | 1.13 | 0.90 | 0.24 |
| Current Ratio | 3.82 | 5.28 | 3.53 | 3.69 | 2.08 | 2.19 |
| Return on Equity (ROE) | 154.31% | 241.16% | 6.75% | 249.70% | -19.35% | -3.85% |
| Return on Assets (ROA) | 11.05% | 11.44% | 9.86% | 8.27% | 2.69% | 1.51% |
| Return on Invested Capital (ROIC) | 19.11% | 18.33% | 11.27% | 14.99% | 5.56% | 3.10% |
| Return on Capital Employed (ROCE) | 19.80% | 19.40% | 15.00% | 12.80% | 7.00% | 2.80% |
| Earnings Yield | 2.49% | 2.48% | 0.06% | 5.24% | -11.36% | -3.63% |
| FCF Yield | -4.76% | -5.23% | -9.63% | -13.96% | -47.38% | -21.15% |
| Dividend Yield | 1.01% | 0.69% | 0.83% | 2.59% | 7.38% | 4.56% |
| Payout Ratio | 37.52% | 29.03% | 1,777.70% | 62.20% | ||
| Buyback Yield / Dilution | -0.31% | -2.27% | -1.11% | -1.01% | -10.56% | -4.54% |
| Total Shareholder Return | 0.70% | -1.59% | -0.27% | 1.57% | -3.18% | 0.02% |