Business Description
AerCap Holdings N.V. is a global aviation leasing company headquartered in Dublin, Ireland. The company specializes in acquiring, leasing, and managing commercial aircraft, engines, and helicopters for airlines and aviation operators worldwide. AerCap provides fleet financing and management solutions that allow operators to utilize aviation assets without the capital requirements of direct ownership.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total revenue | 8,730,516 | 8,155,600 | 7,747,133 | 7,130,715 |
| Selling, General & Administrative Expenses | 545,933 | 488,916 | 464,128 | 399,530 |
| Other Non-Interest Expenses | 3,878,723 | 5,244,355 | 3,844,104 | 7,616,440 |
| Total Non-Interest Expense | 4,424,656 | 5,733,271 | 4,308,232 | 8,015,970 |
| Income Before Provision for Income Taxes | 4,092,012 | 2,263,373 | 3,272,186 | (1,002,420) |
| Provision for Income Taxes | 555,246 | 323,704 | 291,056 | (164,097) |
| Consolidated Net Income | 3,750,614 | 2,098,625 | 3,147,845 | (721,158) |
| Net Income Attributable to Minority Interests and Other | 2 | (7) | 11,754 | 4,883 |
| Net Income Attributable to Common Shareholders | 3,750,612 | 2,098,632 | 3,136,091 | (726,041) |
| Basic EPS | 21.78 | 11.06 | 13.99 | -3.02 |
| Diluted EPS | 21.30 | 10.79 | 13.78 | -3.02 |
| Basic Weighted Average Shares Outstanding | 172,181 | 189,831 | 224,217 | 240,487 |
| Diluted Weighted Average Shares Outstanding | 176,116 | 194,489 | 227,656 | 240,487 |
| Shares Outstanding | 166,877 | 186,783 | 202,493 | 245,931 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 1,379,180 | 1,209,226 | 1,825,466 | 1,597,147 |
| Other Earning Assets | 1,807,494 | 1,208,585 | 1,263,375 | 1,356,072 |
| Net Property, Plant & Equipment | 57,796,320 | 58,575,672 | 55,627,971 | 55,220,809 |
| Accrued Interest and Accounts Receivable | 48,499 | 68,073 | 1,959,176 | 132,202 |
| Net Intangible Assets | 1,795,196 | 2,269,659 | 2,928,757 | 3,549,663 |
| Long-Term Investments | 1,315,306 | 1,128,894 | 1,859,611 | 811,219 |
| Other Non-Earning Assets | 7,529,795 | 6,981,867 | 3,958,044 | 7,059,806 |
| Total Assets | 71,671,790 | 71,441,976 | 69,422,400 | 69,726,918 |
| Accounts Payable | 1,897,392 | 1,774,827 | 7,880,467 | 1,494,953 |
| Long-Term Debt | 43,565,321 | 45,294,511 | 44,918,796 | 46,532,960 |
| Other Liabilities | 7,964,592 | 7,274,009 | 4,450,960 | 5,577,967 |
| Total Liabilities | 53,348,299 | 54,257,144 | 57,250,223 | 53,531,868 |
| Common Stock | 2,267 | 2,558 | — | 3,024 |
| Treasury Stock | (1,467,321) | (1,425,652) | — | (254,699) |
| Additional Paid-in Capital | 3,517,963 | 5,809,276 | — | 8,586,034 |
| Accumulated Other Comprehensive Income | (50,210) | 42,683 | — | 108,226 |
| Retained Earnings | 16,320,581 | 12,755,758 | — | 7,674,922 |
| Total Common Shareholders' Equity | 18,323,280 | 17,184,623 | 14,397,441 | 16,117,507 |
| Minority Interests and Other | 211 | 209 | 216 | 77,543 |
| Total Shareholders' Equity | 18,323,491 | 17,184,832 | 14,397,657 | 16,195,050 |
| Total Liabilities and Shareholders' Equity | 71,671,790 | 71,441,976 | 69,422,400 | 69,726,918 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 3,639,695 | 2,098,625 | 3,147,845 | (721,158) |
| Depreciation & Amortization | 2,559,401 | 2,580,037 | 2,480,578 | 2,389,807 |
| Share-Based Compensation Expense | 166,239 | 111,140 | 97,058 | 102,848 |
| Other Adjustments | (128,467) | 398,297 | (612,790) | 3,788,948 |
| Changes in Other Operating Activities | 1,466,127 | 921,459 | 764,499 | 145,047 |
| Cash from Operating Activities | 5,393,124 | 5,436,643 | 5,261,435 | 5,170,962 |
| Capital Expenditure | (6,074,298) | (6,616,358) | (6,232,386) | (3,871,572) |
| Proceeds from Sale of Property, Plant & Equipment | 2,871,562 | 2,674,974 | 2,121,507 | 1,635,777 |
| Other Investing Activities | 1,915,656 | 244,458 | 954,071 | 52,682 |
| Cash from Investing Activities | (1,664,530) | (3,724,207) | (3,182,968) | (2,160,499) |
| Issuance of Long-Term Debt | 5,351,843 | 7,641,379 | 6,550,992 | 467,996 |
| Repayments of Long-Term Debt | (7,082,721) | (8,799,950) | (6,568,370) | (4,230,082) |
| Net Issuance / (Repayments) of Long-Term Debt | (1,730,878) | (1,158,571) | (17,378) | (3,762,086) |
| Repurchases of Common Shares | (2,538,200) | (1,520,320) | (2,637,589) | (17,419) |
| Net Issuance / (Repurchases) of Common Shares | (2,538,200) | (1,520,320) | (2,637,589) | (17,419) |
| Common Share Dividends Paid | (192,437) | (139,991) | (112,034) | (3,957) |
| Other Financing Activities | (1,878,867) | (13,823) | 113,367 | 110,731 |
| Cash from Financing Activities | (3,653,061) | (2,132,509) | (2,011,719) | (3,160,815) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 2,629 | (3,811) | 1,948 | (7,631) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 75,533 | (420,073) | 66,748 | (150,352) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $23.99B |
| P/E | 6.75x |
| P/S | 2.75x |
| Return on Equity | 21.1% |
| Dividend Yield | 0.8% |
| Free Cash Flow Margin | -7.8% |
Margins
Gross margin
—
Operating margin
—
Net margin
43.0%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q2 2026 | $2.22B | +14.8% | — | — |
| Q1 2026 | $2.30B | +8.9% | — | — |
| Q4 2025 | $2.32B | +9.9% | — | — |
| Q3 2025 | $2.36B | +18.3% | — | — |
| Q2 2025 | $1.93B | — | — | — |
| Q1 2025 | $2.11B | — | — | — |
| Q4 2024 | $2.12B | — | — | — |
| Q3 2024 | $1.99B | — | — | — |
More on AerCap Holdings N.V.
Figures compiled from public company filings.
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