FTAI Aviation Ltd. (FTAI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.09	$1.26	-39.7%	—	$953.1M	—
Q1 26	$1.6	$1.46	-8.8%	—	$830.7M	—
Q4 25	$1.18	$1.24	+5.1%	—	$662M	—
Q3 25	$1.2	$1.16	-3.3%	—	$667.1M	—
Q2 25	$1.26	$1.65	+31.0%	—	$676.2M	—
Q1 25	$0.88	$1.02	+15.9%	—	$502.1M	—
Q4 24	$0.89	$0.84	-5.6%	—	$498.8M	—
Q3 24	$0.78	$0.85	+9.0%	—	$465.8M	—
Q2 24	$0.44	$0.79	+79.5%	—	$443.6M	—
Q1 24	$0.42	$0.41	-2.4%	—	$326.7M	—
Q4 23	$0.4	$1.2	+200.0%	—	$312.7M	—
Q3 23	$0.42	$0.33	-21.4%	—	$291.1M	—
Q2 23	$0.3	$0.46	+53.3%	—	$274.3M	—
Q1 23	$0.41	$0.22	-46.3%	—	$292.7M	—
Q4 22	$0.5	$0.2	-60.0%	—	$274.3M	—
Q3 22	$0.52	-$0.23	-144.2%	—	$230.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.66	—	—	$2.5B	—
FY24	—	-$0.32	—	—	$1.7B	—
FY23	—	$2.12	—	—	$1.2B	—
FY22	—	-$2.22	—	—	$708.4M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$148.7M	$185.1M	$342.1M	$578.8M	$297.9M	$335.6M	$708.4M	$1.2B	$1.7B	$2.5B
YoY change	+8.9%	+24.4%	+84.9%	+69.2%	-48.5%	+12.6%	+111.1%	+65.3%	+48.2%	+44.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	148.7M	185.1M	342.1M	578.8M	297.9M	335.6M	708.4M	1.2B	1.7B	2.5B
Cost of revenue	60.2M	86.1M	133.9M	169M	141.3M	162M	401.3M	672M	1B	1.6B
Gross profit	88.5M	99M	208.2M	409.8M	156.6M	173.5M	307.1M	498.9M	691M	931.9M
Gross margin	59.5%	53.5%	60.9%	70.8%	52.6%	51.7%	43.4%	42.6%	39.8%	37.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	12.3M	14.6M	15.3M	16.9M	14.1M	13.4M	14.2M	13.7M	14.3M	9.5M
Operating expenses	95.2M	92.7M	169.4M	344.5M	59.7M	73.7M	150M	141.9M	438.6M	162M
Operating income	-6.7M	6.3M	38.8M	65.2M	97M	99.8M	157.1M	357M	252.4M	769.9M
Operating margin	-4.52%	3.38%	11.3%	11.3%	32.5%	29.7%	22.2%	30.5%	14.5%	30.7%
Non-operating income, net	-14.8M	10.3M	-82K	182M	-52.9M	15.5M	-93.2M	-11.3M	-16.5M	84.6M
Pretax income	-40.3M	-20.5M	-17.7M	152.1M	-43.4M	-39.7M	-105.3M	184M	14.2M	606.7M
Income tax	268K	2M	2.4M	17.8M	-4.3M	3.1M	5.3M	-59.8M	5.5M	105.6M
Net income	-40.6M	-23.2M	-15.7M	207.8M	-103.7M	-130.7M	-212M	243.8M	8.7M	501.1M
Net margin	-27.3%	-12.6%	-4.59%	35.9%	-34.8%	-38.9%	-29.9%	20.8%	0.5%	20%
EBITDA	53.7M	104.8M	205.3M	268.2M	297.9M	327.6M	387.3M	576.6M	529.6M	1.1B
EPS	-0.26	0	0.07	2.59	-1.22	-1.43	-2.22	2.12	-0.32	4.66
Diluted EPS	-0.26	0	0.07	2.59	-1.22	-1.43	-2.22	2.11	-0.32	4.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	291.1M	312.7M	326.7M	443.6M	465.8M	498.8M	502.1M	676.2M	667.1M	662M	830.7M	953.1M
Cost of revenue	160.7M	181.7M	192.7M	262.5M	276.3M	312.4M	308.3M	424.5M	418.2M	424.5M	576.6M	682.8M
Gross profit	130.4M	131M	134M	181M	189.5M	186.4M	193.8M	251.7M	248.9M	237.5M	254.1M	270.3M
Gross margin	44.8%	41.9%	41%	40.8%	40.7%	37.4%	38.6%	37.2%	37.3%	35.9%	30.6%	28.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3M	3.4M	3.7M	3M	4M	3.6M	3.1M	2.4M	1.8M	2.1M	2.4M	2.2M
Operating expenses	41.5M	37.3M	33.9M	334.6M	30.9M	38.2M	35.6M	36.8M	40.9M	48.8M	67.4M	69.8M
Operating income	89M	93.8M	100.1M	-154.6M	158.6M	148.3M	158.3M	215M	207.9M	188.7M	186.7M	200.5M
Operating margin	30.6%	30%	30.6%	-34.8%	34.1%	29.7%	31.5%	31.8%	31.2%	28.5%	22.5%	21%
Non-operating income, net	-3.8M	876K	-7.2M	-23.1M	-6.9M	20.7M	29M	52.3M	-3.1M	6.4M	44M	14.3M
Pretax income	45M	51M	45.2M	-232.9M	93.8M	108.1M	125.2M	203.3M	144M	134.1M	169.4M	150.7M
Income tax	3.7M	-67.4M	5.6M	-13M	7.3M	5.6M	22.9M	37.9M	26.3M	18.6M	31.5M	25.6M
Net income	41.3M	118.4M	39.6M	-219.9M	86.5M	102.4M	102.4M	165.4M	117.7M	115.6M	137.9M	125.1M
Net margin	14.2%	37.8%	12.1%	-49.6%	18.6%	20.5%	20.4%	24.5%	17.6%	17.5%	16.6%	13.1%
EBITDA	148.8M	157.1M	159.2M	-90M	230.5M	229.8M	263M	302.8M	275.1M	274.2M	291.5M	270.2M
EPS	0.33	1.1	0.31	-2.26	0.76	—	0.88	1.58	1.11	—	1.31	1.15
Diluted EPS	0.33	1.09	0.31	-2.26	0.76	—	0.87	1.57	1.1	—	1.29	1.13

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	1.3B	—	1.4B	1.7B	2.2B	—	4.6B	14.6B	20.2B	17.2B
Enterprise value	—	1.9B	—	2.7B	3.6B	4.7B	—	7.1B	18B	23.3B	21.1B
Shares outstanding	75.7M	75.8M	83.7M	86M	86M	89.9M	99.4M	99.9M	101.5M	102.6M	102.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	6.91	—	—	—	19	1.7K	40.3	38.1
P/S	—	6.97	—	2.48	5.78	6.62	—	3.96	8.43	8.05	5.78
P/B	—	1.25	—	1.07	1.57	1.98	—	26.4	179.7	60.4	44.5
EV/EBITDA	—	18.4	—	9.94	12.1	14.3	—	12.2	33.9	21.1	21.2
EV/Sales	—	10.4	—	4.61	12.1	14	—	6.03	10.3	9.31	6.79
Earnings yield	—	—	—	14.5%	—	—	—	5.26%	0.06%	2.48%	2.62%
FCF yield	—	-38.4%	—	-52.2%	-30.9%	-34.9%	—	-14%	-9.19%	-4.94%	-3.06%
PEG	—	—	—	—	—	—	—	—	—	—	-1.4

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	59.5%	53.5%	60.9%	70.8%	52.6%	51.7%	43.4%	42.6%	39.8%	37.2%	28.4%
Operating margin	-4.52%	3.38%	11.3%	11.3%	32.5%	29.7%	22.2%	30.5%	14.5%	30.7%	21%
Net margin	-27.3%	-12.6%	-4.59%	35.9%	-34.8%	-38.9%	-29.9%	20.8%	0.5%	20%	15.9%
ROE	-3.48%	-2.25%	-1.49%	15.5%	-9.43%	-11.6%	-1.1K%	138.6%	10.7%	149.9%	174.5%
ROA	-2.62%	-1.19%	-0.6%	6.42%	-3.06%	-2.69%	-8.73%	8.22%	0.22%	11.5%	11.4%
ROIC	-0.5%	0.37%	1.79%	2.24%	3.27%	2.78%	7.27%	13.7%	4.54%	18.3%	18.5%
Return on tangible assets	-3.28%	-1.41%	-0.67%	7.08%	-3.34%	-2.88%	-9.04%	8.54%	0.23%	12.1%	11.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.45	1.3	1.51	1.56	2.96	2.58	2.51	3.04	3.53	5.28	5.28
Quick ratio	2.45	1.22	1.42	1.48	2.45	2.48	2.51	3.04	1.94	2.3	2.07
Debt / equity	0.22	0.68	1.15	1.09	1.81	2.31	112.1	14.3	42.3	10.3	8.65
Debt / assets	0.17	0.36	0.46	0.45	0.59	0.53	0.9	0.85	0.85	0.79	0.77
Net debt / EBITDA	3.24	6.14	5.43	4.59	6.28	7.52	5.53	4.21	6.28	2.85	2.8
Interest coverage	-1.13	0.46	0.69	2.59	0.5	0.74	0.38	2.14	1.06	3.45	3.42
Effective tax rate	0%	0%	0%	11.7%	0%	0%	0%	0%	38.7%	17.4%	17%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.96	2.44	4.09	6.73	3.46	3.73	7.13	11.7	17.1	24.4	30.3
EPS (basic)	-0.26	0	0.07	2.59	-1.22	-1.43	-2.22	2.12	-0.32	4.66	4.66
EPS (diluted)	-0.26	0	0.07	2.59	-1.22	-1.43	-2.22	2.11	-0.32	4.6	4.59
Book value per share	15.4	13.7	12.6	15.6	12.8	12.5	0.2	1.76	0.8	3.26	3.94
FCF per share	-3.24	-6.54	-7.37	-8.72	-6.18	-8.63	-8.39	-6.49	-13.2	-9.72	-8.57
Cash per share	1.13	0.78	1.19	2.63	1.41	1.54	0.34	0.91	1.13	2.93	3.28
Capex per share	3.25	6.1	8.27	7.43	5.89	6.2	3.64	2.73	1.03	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	165.3%	249.7%	202.3%	110.4%	170%	166.1%	51.1%	23.3%	6.04%	—	—
Capex / operating cash flow	1.2K%	562.5%	499.7%	160.9%	1.7K%	-5K%	-278.2%	98.2%	60.8%	—	—
Payout ratio	-246.4%	-430.5%	-704.2%	55.5%	-126.8%	-109.2%	-73.4%	62.2%	1.8K%	29%	32.8%
Dividend yield	—	7.76%	—	8.04%	7.63%	6.43%	—	3.27%	1.06%	0.72%	1.2%

Yield

1.2%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.50

ex-dividend Aug 12, 2026

Payout ratio

33%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 12, 2026	$0.50
May 13, 2026	$0.45
Mar 13, 2026	$0.40
Nov 10, 2025	$0.35
Aug 12, 2025	$0.30
May 16, 2025	$0.30
Mar 14, 2025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$291.1M	$312.7M	$326.7M	$443.6M	$465.8M	$498.8M	$502.1M	$676.2M	$667.1M	$662M	$830.7M	$953.1M
YoY change	+26.4%	+14%	+11.6%	+61.7%	+60%	+59.5%	+53.7%	+52.4%	+43.2%	+32.7%	+65.5%	+40.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	85.7M	59.4M	99.6M	226.5M	121.7M	138.2M	33.6M	90.8M	115.1M	300.5M
Receivables	21.4M	31.1M	46.4M	49.5M	91.7M	124.9M	99.4M	115.2M	150.8M	209.9M
Inventory	0	8.9M	17.4M	15.2M	58.3M	107.1M	—	—	551.2M	1.2B
Total current assets	243.3M	158.4M	278.4M	320.8M	335.2M	2.8B	216.7M	343.1M	1.2B	2.1B
Property, plant & equipment	1.1B	1.6B	2.1B	2.5B	2.7B	2.1B	1.9B	2.1B	2.5B	1.7B
Goodwill & intangibles	311.1M	313.3M	309M	300.7M	283M	319.1M	83.9M	110.4M	206.6M	228.3M
Total assets	1.5B	2B	2.6B	3.2B	3.4B	4.9B	2.4B	3B	4B	4.4B
Accounts payable	36.9M	64.9M	95.4M	121.5M	110.4M	87M	86.5M	112.9M	69.1M	208.2M
Short-term debt	60.9M	54M	47.7M	61M	25M	100.5M	—	—	—	—
Total current liabilities	99.2M	122.2M	183.9M	205.9M	113.2M	1.1B	86.5M	112.9M	347.2M	399.9M
Long-term debt	198.6M	649.3M	1.2B	1.4B	2B	2.5B	2.2B	2.5B	3.4B	3.4B
Total liabilities	381.6M	920.7M	1.6B	1.9B	2.3B	3.7B	2.4B	2.8B	4B	4B
Shareholders' equity	1.2B	1B	1.1B	1.3B	1.1B	1.1B	19.4M	175.9M	81.4M	334.2M
Total debt	259.5M	703.3M	1.2B	1.5B	2B	2.6B	2.2B	2.5B	3.4B	3.4B
Net debt	191.5M	643.9M	1.1B	1.2B	1.9B	2.5B	2.1B	2.4B	3.3B	3.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	52.9M	90.8M	65.2M	169.5M	111.9M	115.1M	112.1M	301.9M	509.9M	300.5M	412.2M	337.2M
Receivables	107.8M	115.2M	137.4M	154.1M	230.2M	150.8M	223.5M	239.5M	214.9M	209.9M	176.9M	168.2M
Inventory	—	—	345.5M	373.3M	491M	551.2M	645.2M	752.9M	897.2M	1.2B	1.4B	1.5B
Total current assets	263.4M	343.1M	723.3M	947M	1.3B	1.2B	1.9B	1.8B	2B	2.1B	2.6B	2.5B
Property, plant & equipment	2B	2.1B	2.3B	2.3B	2.2B	2.5B	2.1B	2B	1.8B	1.7B	1.4B	1.3B
Goodwill & intangibles	82.9M	110.4M	102.4M	93.5M	139.1M	206.6M	154.2M	180.2M	203.4M	228.3M	214.2M	214.5M
Total assets	2.6B	3B	3.2B	3.4B	3.7B	4B	4.3B	4.1B	4.2B	4.4B	4.5B	4.5B
Accounts payable	108.6M	112.9M	139.3M	128.7M	196.7M	69.1M	110.8M	83.4M	147.3M	208.2M	203.8M	261.7M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	108.6M	112.9M	139.3M	128.7M	196.7M	347.2M	473.8M	350.9M	348.2M	399.9M	494.3M	481.2M
Long-term debt	2.3B	2.5B	2.7B	3.1B	3.2B	3.4B	3.6B	3.4B	3.4B	3.4B	3.5B	3.5B
Total liabilities	2.5B	2.8B	3B	3.4B	3.6B	4B	4.2B	3.9B	4B	4B	4.1B	4.1B
Shareholders' equity	95.1M	175.9M	177.6M	69.6M	118.5M	81.4M	28.3M	164.9M	252.5M	334.2M	431.7M	404M
Total debt	2.3B	2.5B	2.7B	3.1B	3.2B	3.4B	3.6B	3.4B	3.4B	3.4B	3.5B	3.5B
Net debt	2.2B	2.4B	2.6B	2.9B	3.1B	3.3B	3.5B	3.1B	2.9B	3.1B	3B	3.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-40.6M	-23.2M	-15.7M	207.8M	-103.7M	-130.7M	-212M	243.8M	8.7M	501.1M
Depreciation & amortization	65.7M	96.4M	163M	201.4M	202.7M	229.7M	230.4M	213.6M	262M	267.6M
Stock-based compensation	-3.7M	1.3M	901K	8.4M	2.3M	4M	2.6M	1.6M	6M	21.7M
Change in working capital	-2.2M	3.6M	-9.4M	-23.8M	-67.7M	-94.5M	-129.5M	-77.6M	-248.9M	-701.5M
Operating cash flow	21.2M	82.1M	138.5M	397M	30.3M	-11.2M	-130.2M	277.7M	172.4M	-310.7M
Capital expenditure	-245.8M	-462M	-692.2M	-638.9M	-506.4M	-557.5M	-362.3M	-272.7M	-104.8M	—
Investing cash flow	-206.7M	-430.1M	-694.2M	-484M	-497.3M	-1.3B	-380.1M	-352.4M	-472.7M	167.1M
Dividends paid	-100M	-100.1M	-110.6M	-115.4M	-131.4M	-142.8M	-155.6M	-151.6M	-154.3M	-145.4M
Share repurchases	—	—	—	—	—	—	—	—	-105.4M	-124.2M
Financing cash flow	-89.8M	363.2M	597.9M	474M	365M	1.6B	45.1M	282.2M	681.8M	-225.7M
Net change in cash	-275.3M	15.2M	42.2M	387M	-102M	313.9M	-465.3M	207.6M	381.6M	-369.4M
Free cash flow	-245.3M	-495.8M	-616.2M	-749.7M	-531.7M	-776M	-834.3M	-647.9M	-1.3B	-997.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	41.3M	118.4M	39.6M	-219.9M	86.5M	102.4M	102.4M	165.4M	117.7M	115.6M	137.9M	125.1M
Depreciation & amortization	59.4M	56.6M	59.1M	65.8M	69.5M	67.6M	68.4M	65.7M	67.9M	65.7M	59.5M	52.1M
Stock-based compensation	510K	510K	510K	638K	1.4M	3.4M	4.9M	5.5M	5.7M	5.7M	6.3M	7.3M
Change in working capital	-4.3M	-35.6M	-47.6M	-88.8M	-27.3M	-85.2M	-179.9M	-79.3M	-157.5M	-284.8M	-229.4M	-191.3M
Operating cash flow	79.6M	60.8M	55.8M	-107.5M	134.3M	89.7M	-14.1M	137.3M	4.6M	-179.1M	-160.1M	-105.2M
Capital expenditure	-91M	-131.2M	-146.5M	47.5M	21.4M	-27.2M	9.1M	261.5M	—	—	—	—
Investing cash flow	-89.6M	-171.8M	-170.1M	-50.5M	-223.3M	38.1M	-28.9M	519.5M	-25.3M	-86.7M	106.8M	-44.9M
Dividends paid	-38.3M	-38.4M	-38.4M	-38.4M	-39M	-38.5M	-36.9M	-34.5M	-34.5M	-39.6M	-44.7M	-49.9M
Share repurchases	—	—	—	—	—	—	-124.2M	0	0	0	0	-105.5M
Financing cash flow	71.5M	208.1M	144M	341.7M	124.3M	177.2M	50.6M	-223.7M	-21.6M	-31M	-43M	-163.2M
Net change in cash	61.5M	97.1M	29.8M	183.7M	35.2M	305M	7.7M	433.2M	-42.2M	-296.8M	-96.3M	-313.4M
Free cash flow	-133.9M	-242.7M	-278.6M	-347.6M	-145.2M	-573M	-297.5M	-262M	-79.5M	-358.3M	-254.5M	-198.9M

FTAI Aviation Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history