Stock AL AIR LEASE CORPORATION
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Financials Air Lease Corporation

Equities

AL

US00912X3026

Business Support Services

Market Closed - Nyse
Other stock markets
 01:30:01 27/04/2024 am IST 		5-day change 1st Jan Change
51.66 USD +0.19% Intraday chart for Air Lease Corporation +5.36% +23.18%
16/04 Barclays Raises Price Target on Air Lease to $55 From $48, Keeps Overweight Rating MT
09/04 Air Lease Q1 Owned Aircraft Rise Year-on-Year MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,356 5,054 5,042 4,260 4,656 5,753 - -
Enterprise Value (EV) 1 18,617 19,815 20,956 22,122 23,375 25,927 26,995 29,994
P/E ratio 9.34 x 10.1 x 12.4 x -31 x 8.16 x 11.3 x 9.56 x 8.4 x
Yield 1.18% 1.37% 1.51% 1.97% - 1.52% 1.76% 1.54%
Capitalization / Revenue 2.66 x 2.51 x 2.41 x 1.84 x 1.73 x 2 x 1.84 x 1.73 x
EV / Revenue 9.23 x 9.83 x 10 x 9.55 x 8.71 x 9 x 8.61 x 9.02 x
EV / EBITDA 9.94 x 10.4 x 10.8 x 16.1 x 9.75 x 9.76 x 9.69 x 10.2 x
EV / FCF -7.27 x -28.2 x -15.4 x 12.7 x -9.96 x -55.9 x -78.5 x -
FCF Yield -13.8% -3.54% -6.49% 7.86% -10% -1.79% -1.27% -
Price to Book 0.96 x 0.83 x 0.72 x 0.64 x 0.65 x 0.76 x 0.71 x 0.65 x
Nbr of stocks (in thousands) 1,12,704 1,13,779 1,13,987 1,10,892 1,11,027 1,11,367 - -
Reference price 2 47.52 44.42 44.23 38.42 41.94 51.66 51.66 51.66
Announcement Date 14/02/20 22/02/21 17/02/22 16/02/23 15/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,017 2,015 2,088 2,317 2,685 2,879 3,134 3,325
EBITDA 1 1,873 1,902 1,937 1,373 2,397 2,656 2,787 2,945
EBIT 1 1,170 1,121 1,054 1,179 1,396 1,428 1,468 1,731
Operating Margin 57.99% 55.64% 50.47% 50.87% 51.98% 49.6% 46.83% 52.07%
Earnings before Tax (EBT) 1 735.7 646.7 541 -138.8 753.6 693.7 807 920.7
Net income 1 575.2 500.9 408.2 -138.7 572.9 522.2 612.3 696.1
Net margin 28.52% 24.85% 19.54% -5.99% 21.34% 18.14% 19.54% 20.94%
EPS 2 5.090 4.390 3.570 -1.240 5.140 4.567 5.405 6.153
Free Cash Flow 1 -2,562 -702.4 -1,359 1,739 -2,348 -464 -344 -
FCF margin -127.05% -34.85% -65.07% 75.05% -87.43% -16.12% -10.98% -
FCF Conversion (EBITDA) - - - 126.64% - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.5600 0.6100 0.6700 0.7550 - 0.7867 0.9093 0.7950
Announcement Date 14/02/20 22/02/21 17/02/22 16/02/23 15/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 524.5 597.2 596.7 557.7 561.3 601.6 636.1 672.9 659.4 716.6 677.3 707.3 738.9 755.9 772
EBITDA 1 486.7 548.9 566.4 512.6 515.9 580.8 582.6 618.4 607.9 588.5 611.2 660.5 689.4 698.7 -
EBIT 1 261.8 318 331.1 277.3 273.3 297.1 323 349.8 340.5 382.4 340.4 282.2 439.4 372.7 -
Operating Margin 49.91% 53.26% 55.49% 49.73% 48.7% 49.38% 50.77% 51.98% 51.64% 53.36% 50.26% 39.9% 59.47% 49.31% -
Earnings before Tax (EBT) 1 134.5 188.4 -601.7 144.9 137.8 180.2 158.3 164 165 266.4 151.6 166.6 189.1 184.9 200
Net income 1 100 142.3 -479.4 105.9 99.96 134.9 118.3 122 122 210.6 106.5 124.7 144.9 146.2 152
Net margin 19.07% 23.83% -80.35% 18.98% 17.81% 22.42% 18.6% 18.13% 18.51% 29.39% 15.72% 17.64% 19.6% 19.34% 19.69%
EPS 2 0.8700 1.240 -4.210 0.9500 0.9000 1.120 1.060 1.100 1.100 1.890 0.9429 1.122 1.243 1.257 1.274
Dividend per Share 2 0.1600 0.1850 0.1850 0.1850 0.1850 0.2000 0.2000 0.2000 - - 0.2061 0.1765 0.1885 0.1912 0.2200
Announcement Date 04/11/21 17/02/22 05/05/22 04/08/22 03/11/22 16/02/23 01/05/23 03/08/23 06/11/23 15/02/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 13,261 14,761 15,914 17,861 18,718 20,174 21,242 24,241
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.082 x 7.76 x 8.218 x 13.01 x 7.808 x 7.595 x 7.623 x 8.232 x
Free Cash Flow 1 -2,562 -702 -1,359 1,739 -2,348 -464 -344 -
ROE (net income / shareholders' equity) 15% 8.57% 6.24% 9.66% 8.3% 6.98% 8.79% 8.14%
ROA (Net income/ Total Assets) 3.89% 2.13% 1.56% -0.5% 1.95% 1.61% 2.12% 1.9%
Assets 1 14,796 23,462 26,092 27,684 29,424 32,417 28,834 36,638
Book Value Per Share 2 49.60 53.30 61.50 59.90 64.50 67.90 72.30 80.00
Cash Flow per Share 2 12.30 9.560 12.00 12.40 15.70 17.60 13.20 -
Capex 1 3,955 1,793 2,736 3,121 4,094 4,162 2,458 -
Capex / Sales 196.09% 88.94% 131% 134.7% 152.5% 144.55% 78.44% -
Announcement Date 14/02/20 22/02/21 17/02/22 16/02/23 15/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Air Lease Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
51.66 USD
Average target price
55.57 USD
Spread / Average Target
+7.57%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Commercial Equipment Rental
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