Willis Lease Finance Corporation (WLFC) 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 %
Q1 26	$1.01	$1.34	+32.7%	—	$194.3M	—
Q4 25	$1.02	$0.51	-50.0%	—	$193.6M	—
Q3 25	$1.11	$1.36	+22.5%	—	$183.4M	—
Q2 25	$0.86	$1.59	+84.9%	—	$195.5M	—
Q1 25	$1.47	$0.74	-49.7%	—	$157.7M	—
Q4 24	$0.63	$0.94	+49.2%	—	$152.8M	—
Q1 23	—	$0.55	—	—	$89.5M	—
Q4 22	—	$1.8	—	—	$88.1M	—
Q3 22	—	$0.89	—	—	$76.9M	—
Q2 22	—	$0.81	—	—	$78.1M	—
Q1 22	—	-$3.7	—	—	$68.8M	—
Q4 21	—	$0.14	—	—	$75.8M	—
Q3 21	—	$0.32	—	—	$70.8M	—
Q2 21	—	-$0.12	—	—	$66.5M	—
Q1 21	—	-$0.36	—	—	$61.1M	—
Q4 20	—	-$0.62	—	—	$61.5M	—

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	—	$5.33	—	—	$730.2M	—
FY24	—	$16	—	—	$569.2M	—
FY23	—	$6.4	—	—	$418.6M	—
FY22	—	$0.35	—	—	$311.9M

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	$207.3M	$274.8M	$348.3M	$409.2M	$288.7M	$274.2M	$311.9M	$418.6M	$569.2M	$730.2M
YoY change	+4.65%	+32.6%	+26.7%	+17.5%	-29.4%	-5.02%	+13.8%	+34.2%	+36%	+28.3%

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	207.3M	274.8M	348.3M	409.2M	288.7M	274.2M	311.9M	418.6M	569.2M	730.2M
Cost of revenue	79.6M	106.9M	137.8M	148.9M	111.3M	105.4M	109.1M	106.1M	139.8M	231.7M
Gross profit	127.7M	168M	210.5M	260.3M	177.4M	168.8M	202.8M	312.4M	429.4M	498.5M
Gross margin	61.6%	61.1%	60.4%	63.6%	61.4%	61.5%	65%	74.6%	75.4%	68.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	47.8M	55.7M	72M	86.5M	67.9M	75.3M	92.5M	144.8M	146.8M	194.7M
Operating expenses	54.8M	65.5M	83.2M	94.6M	74.4M	84.7M	106.9M	165M	169.1M	226.1M
Operating income	72.9M	102.5M	127.3M	165.6M	102.9M	84M	95.9M	147.4M	260.4M	272.4M
Operating margin	35.2%	37.3%	36.6%	40.5%	35.7%	30.6%	30.7%	35.2%	45.7%	37.3%
Non-operating income, net	-7.8M	-17.8M	-6.9M	-9.9M	-22.6M	-6.9M	-19.4M	-1.5M	-3M	20.3M
Pretax income	23.9M	36M	56.3M	88.9M	17.3M	9.1M	9.8M	67.1M	152.6M	160.6M
Income tax	9.9M	-26.1M	13M	22M	7.6M	5.8M	4.4M	23.3M	44M	46.8M
Net income	14.1M	62.2M	43.2M	66.9M	9.7M	3.4M	5.4M	43.8M	108.6M	113.8M
Net margin	6.79%	22.6%	12.4%	16.4%	3.38%	1.22%	1.74%	10.5%	19.1%	15.6%
EBITDA	141M	175.7M	208M	260.4M	200.1M	175.3M	184.1M	241.2M	363.8M	398.8M
EPS	2.1	9.93	6.75	10.9	1.07	0	0.35	6.4	16	5.33
Diluted EPS	2.05	9.69	6.6	10.5	1.05	0	0.33	6.23	15.3	5.13

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	105.7M	114.3M	119.1M	151.1M	146.2M	152.8M	157.7M	195.5M	183.4M	193.6M	194.3M	194M
Cost of revenue	30.7M	28.4M	30.8M	33.3M	38.9M	36.8M	45.7M	64.3M	40.5M	81.3M	53.5M	54.5M
Gross profit	75.1M	85.9M	88.3M	117.8M	107.3M	116M	112.1M	131.2M	142.9M	112.3M	140.9M	139.5M
Gross margin	71%	75.1%	74.2%	78%	73.4%	75.9%	71%	67.1%	77.9%	58%	72.5%	71.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	26.5M	39.2M	29.6M	34.7M	40M	42.5M	47.7M	50.4M	49.2M	47.4M	56.6M	55.6M
Operating expenses	35.3M	44.8M	37.8M	39.2M	45.2M	46.8M	54M	57.9M	57.5M	56.7M	66.3M	65.5M
Operating income	39.8M	41.1M	50.5M	78.6M	62.1M	69.1M	58.1M	73.3M	85.4M	55.6M	74.6M	74M
Operating margin	37.6%	35.9%	42.4%	52%	42.5%	45.3%	36.8%	37.5%	46.5%	28.7%	38.4%	38.1%
Non-operating income, net	-373K	2.2M	2.4M	3.8M	151K	-9.4M	-758K	34.6M	-8M	-5.6M	-5.1M	-6.2M
Pretax income	20.3M	21M	29.9M	57.9M	34.5M	30.4M	25.3M	74.3M	43.2M	17.8M	36.8M	38.1M
Income tax	5.7M	10M	9M	15.3M	10.4M	9.3M	8.4M	13.9M	18.9M	5.7M	11.8M	7.8M
Net income	14.6M	11M	20.9M	42.6M	24.1M	21.1M	16.9M	60.4M	24.3M	12.2M	25.1M	30.3M
Net margin	13.8%	9.58%	17.5%	28.2%	16.5%	13.8%	10.7%	30.9%	13.3%	6.29%	12.9%	15.6%
EBITDA	63.2M	68.1M	75.6M	104.9M	87.8M	95.5M	85.4M	104.5M	119.2M	89.7M	107.8M	107.2M
EPS	2.16	1.57	3.12	6.34	3.51	2.97	2.34	2.89	1.12	0.53	1.16	1.36
Diluted EPS	2.13	1.53	3	6.21	3.37	2.81	2.21	2.81	1.08	0.51	1.16	1.31

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	—	50.6M	68.2M	114.6M	60.5M	76.7M	119.4M	102.7M	452.2M	—	1.1B
Enterprise value	—	1.1B	1.4B	1.4B	1.7B	1.9B	2B	1.9B	2.7B	—	3.6B
Shares outstanding	6.6M	6.1M	5.9M	5.8M	6M	6.1M	6.1M	6.3M	6.5M	20.3M	20.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	0.81	1.58	1.71	6.21	22.9	22	2.35	4.16	—	13.2
P/S	—	0.18	0.2	0.28	0.21	0.28	0.38	0.25	0.79	—	1.47
P/B	—	0.2	0.24	0.33	0.17	0.2	0.3	0.23	0.82	—	1.68
EV/EBITDA	—	6.43	6.7	5.22	8.55	10.6	10.6	7.87	7.44	—	8.91
EV/Sales	—	4.11	4	3.32	5.93	6.76	6.27	4.54	4.76	—	4.71
Earnings yield	—	122.9%	63.4%	58.4%	16.1%	4.37%	4.55%	42.6%	24%	—	7.59%
FCF yield	—	-488.8%	-375.6%	-57.1%	-526.5%	-152.9%	-124.4%	59.3%	-124.2%	—	50.9%
PEG	—	—	—	—	—	—	—	—	—	—	-0.25

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	61.6%	61.1%	60.4%	63.6%	61.4%	61.5%	65%	74.6%	75.4%	68.3%	71.9%
Operating margin	35.2%	37.3%	36.6%	40.5%	35.7%	30.6%	30.7%	35.2%	45.7%	37.3%	37.7%
Net margin	6.79%	22.6%	12.4%	16.4%	3.38%	1.22%	1.74%	10.5%	19.1%	15.6%	12.2%
ROE	7.17%	24%	15.1%	19.1%	2.68%	0.89%	1.34%	9.97%	19.8%	17.2%	12.6%
ROA	1.05%	3.88%	2.23%	3.45%	0.41%	0.14%	0.21%	1.65%	3.29%	2.89%	4.58%
ROIC	3.94%	7.67%	6.07%	7.82%	2.87%	1.43%	2.38%	4.3%	6.61%	5.77%	6.48%
Return on tangible assets	1.08%	3.96%	2.27%	3.46%	0.42%	0.14%	0.21%	1.66%	3.36%	2.94%	2.65%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.45	3.87	3.21	3.24	8.5	8.27	4.26	3.74	3.85	5.67	1.54
Quick ratio	3.37	3.33	2.2	2.43	6.96	6.91	3.62	3.32	3.22	5.27	2.74
Debt / equity	4.59	4.19	4.66	3.57	4.65	4.76	4.56	4.11	4.12	4.08	3.03
Debt / assets	0.67	0.68	0.69	0.64	0.72	0.73	0.72	0.68	0.69	0.69	0.64
Net debt / EBITDA	6.31	6.14	6.37	4.78	8.25	10.1	9.97	7.44	6.2	6.73	5.45
Interest coverage	1.58	1.74	1.88	2.33	1.28	1.13	1.15	1.85	2.46	2.22	2.06
Effective tax rate	41.2%	0%	23.2%	24.7%	43.8%	63.3%	44.5%	34.8%	28.8%	29.2%	32.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	31.5	45.2	58.9	70.1	48.4	44.9	51.4	66.4	87.1	36	36.6
EPS (basic)	2.1	9.93	6.75	10.9	1.07	0	0.35	6.4	16	5.33	5.33
EPS (diluted)	2.05	9.69	6.6	10.5	1.05	0	0.33	6.23	15.3	5.13	3.97
Book value per share	29.9	42.6	48.5	60	61	61.5	66.7	69.6	84	32.7	31.1
FCF per share	-13.5	-40.7	-43.3	-11.2	-53.5	-19.2	-24.5	9.67	-85.9	-13.4	-23.6
Cash per share	1.53	1.16	1.98	1.15	7.13	2.34	2	1.12	1.39	0.81	0.55
Capex per share	17.1	56.1	64.3	17.8	64.8	27.9	36.9	13.3	103.3	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	54.1%	123.9%	109.2%	25.4%	133.8%	62.1%	71.7%	20%	118.6%	—	—
Capex / operating cash flow	133.4%	281.1%	225.1%	44.1%	452.1%	169.2%	172.7%	37.9%	222.4%	—	—
Payout ratio	0%	2.11%	7.74%	4.86%	33.4%	97%	60.1%	7.4%	13.1%	12.7%	12.2%
Dividend yield	—	2.59%	4.91%	2.84%	5.38%	4.24%	2.74%	3.15%	3.14%	—	1.02%

Yield

1.02%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.133

ex-dividend Aug 11, 2026

Payout ratio

12%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Aug 11, 2026	$0.133
May 11, 2026	$0.40
Feb 11, 2026	$0.40
Nov 17, 2025	$0.40
Aug 12, 2025	$0.25
May 12, 2025	$0.25
Feb 12, 2025	$0.25
Nov 12, 2024	$0.25

Split history

Date	Ratio
Jul 21, 2026	3:1
Jul 20, 2026	3:1

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	$105.7M	$114.3M	$119.1M	$151.1M	$146.2M	$152.8M	$157.7M	$195.5M	$183.4M	$193.6M	$194.3M	$194M
YoY change	+37.5%	+29.7%	+33%	+38.6%	+38.3%	+33.7%	+32.5%	+29.4%	+25.4%	+26.7%	+23.2%	-0.76%

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	10.1M	7.1M	11.7M	6.7M	42.5M	14.3M	12.1M	7.1M	9.1M	16.4M
Receivables	16.5M	18.8M	23.3M	24.1M	28.3M	39.6M	47M	58.5M	38.3M	35.7M
Inventory	25.4M	16.4M	48.9M	41.8M	59.4M	51M	38.6M	41M	72.2M	56.6M
Total current assets	105M	116.7M	155.1M	167.8M	328.2M	308.6M	259.3M	360.9M	438.8M	799.7M
Property, plant & equipment	1.2B	1.4B	1.7B	1.7B	1.9B	2B	2.1B	2.1B	2.7B	2.9B
Goodwill & intangibles	39.7M	33M	32.3M	8.9M	42.7M	47.4M	37.7M	20.4M	68.1M	61.8M
Total assets	1.3B	1.6B	1.9B	1.9B	2.4B	2.5B	2.6B	2.7B	3.3B	3.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	23.6M	30.2M	48.4M	51.8M	38.6M	37.3M	60.9M	96.5M	113.9M	141.1M
Long-term debt	900.3M	1.1B	1.3B	1.3B	1.7B	1.8B	1.8B	1.8B	2.3B	2.7B
Total liabilities	1.1B	1.3B	1.6B	1.6B	2B	2.1B	2.2B	2.2B	2.7B	3.3B
Shareholders' equity	196.3M	258.9M	286.8M	350.3M	364M	375.9M	404.7M	439M	549.3M	662.1M
Total debt	900.3M	1.1B	1.3B	1.3B	1.7B	1.8B	1.8B	1.8B	2.3B	2.7B
Net debt	890.2M	1.1B	1.3B	1.2B	1.7B	1.8B	1.8B	1.8B	2.3B	2.7B

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	5.4M	7.1M	7.6M	5M	5.8M	9.1M	32.4M	37.3M	12.9M	16.4M	24.6M	10.7M
Receivables	46.3M	58.5M	61.9M	54.1M	37.1M	38.3M	41.5M	37.6M	42.3M	35.7M	38.9M	41.4M
Inventory	45.5M	41M	85.2M	81.9M	74.1M	72.2M	67.3M	63.6M	53.7M	56.6M	56.3M	51.4M
Total current assets	242.5M	360.9M	342M	407.5M	395.9M	438.8M	456.3M	1.1B	435.1M	799.7M	396.3M	434.5M
Property, plant & equipment	2.2B	2.1B	2.2B	2.4B	2.5B	2.7B	2.7B	2.7B	2.8B	2.9B	2.8B	2.9B
Goodwill & intangibles	28.9M	20.4M	20.4M	61.8M	71.4M	68.1M	53.5M	70M	54.6M	61.8M	61.7M	183.9M
Total assets	2.6B	2.7B	2.7B	2.9B	3B	3.3B	3.3B	3.9B	3.4B	3.9B	3.5B	3.7B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	103.3M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	80.5M	96.5M	145M	128.9M	158.9M	113.9M	94.5M	123.6M	116M	141.1M	105.6M	139.8M
Long-term debt	1.8B	1.8B	1.7B	1.9B	2B	2.3B	2.2B	2.8B	2.2B	2.7B	2.3B	2.3B
Total liabilities	2.2B	2.2B	2.2B	2.4B	2.5B	2.7B	2.7B	3.3B	2.8B	3.3B	2.8B	2.9B
Shareholders' equity	431.9M	439M	461.8M	492.4M	517.8M	549.3M	565.5M	617.9M	650.2M	662.1M	694.4M	710.3M
Total debt	1.8B	1.8B	1.7B	1.9B	2B	2.3B	2.2B	2.8B	2.2B	2.7B	2.3B	2.3B
Net debt	1.8B	1.8B	1.7B	1.9B	2B	2.3B	2.2B	2.8B	2.2B	2.7B	2.2B	2.3B

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	14.1M	62.2M	43.2M	66.9M	9.7M	3.4M	5.4M	43.8M	108.6M	113.8M
Depreciation & amortization	66.3M	66M	76.8M	86.2M	94.5M	90.5M	88.3M	90.9M	95.2M	113M
Stock-based compensation	3.7M	4.3M	5.4M	7.8M	11.4M	16.6M	13.6M	14.8M	29.2M	44.6M
Change in working capital	-13.4M	11.2M	25.1M	46.9M	-42.3M	-19M	14.4M	42M	-8.9M	9M
Operating cash flow	84.1M	121.1M	169M	235.3M	85.4M	100.7M	129.6M	221.1M	303.5M	283.2M
Capital expenditure	-112.1M	-340.5M	-380.5M	-103.8M	-386.1M	-170.3M	-223.8M	-83.7M	-675M	—
Investing cash flow	-119M	-325.6M	-380.5M	-147.4M	-506.7M	-148M	-194.4M	-92.8M	-764.9M	29.6M
Dividends paid	0	-1.3M	-3.3M	-3.3M	-3.3M	-3.3M	-3.3M	-3.2M	-14.2M	-14.4M
Share repurchases	-30.3M	-4.6M	-17.4M	-5M	-2.7M	-15.1M	-8.9M	-5.8M	-8.2M	-23.1M
Financing cash flow	21.1M	203.2M	226.2M	-101.5M	428.1M	73.9M	43M	-58.2M	444.7M	387.4M
Net change in cash	-13.9M	-1.2M	14.7M	-13.6M	6.8M	26.5M	-21.8M	70.1M	-16.7M	700.2M
Free cash flow	-88.6M	-247.1M	-256.2M	-65.4M	-318.8M	-117.3M	-148.6M	61M	-561.7M	-272.4M

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	14.6M	11M	20.9M	42.6M	24.1M	21.1M	16.9M	60.4M	24.3M	12.2M	25.1M	30.3M
Depreciation & amortization	23.1M	22.8M	22.5M	22.4M	24.9M	25.4M	25.9M	28.1M	28.7M	30.3M	30.2M	29.1M
Stock-based compensation	3.9M	4.1M	3.8M	4.1M	10.4M	10.9M	6.9M	16.8M	11.3M	9.6M	13.8M	12.7M
Change in working capital	19.8M	9M	-39.8M	18.8M	18M	-5.8M	4.5M	22.4M	-8M	-10M	13.2M	5.2M
Operating cash flow	69.2M	59.3M	18.9M	131.8M	91.4M	61.4M	69M	143.9M	79.8M	50.6M	97.5M	77.5M
Capital expenditure	-30.2M	38M	-58.5M	-194.8M	-120M	-301.6M	10.9M	—	—	—	—	—
Investing cash flow	-29.1M	39.4M	-63.8M	-211.2M	-180M	-309.9M	13.7M	25.1M	3.5M	-1.7M	69.2M	-42M
Dividends paid	-819K	-801K	-920K	-8M	-3.4M	-1.9M	-3.5M	-3.3M	-3.3M	-4.4M	-4.5M	-4.4M
Share repurchases	0	-173K	—	—	-1.1M	-1M	—	-18.7M	-20K	-4.3M	-2.9M	-25M
Financing cash flow	-40.5M	12.3M	-70M	201.2M	37.2M	269.4M	-38.2M	545.2M	-569.6M	450M	-463.2M	32.3M
Net change in cash	-420K	110.9M	-114.9M	121.8M	-51.3M	20.8M	44.4M	714.2M	-486.3M	498.8M	-296.5M	67.7M
Free cash flow	38.8M	38.7M	-3.4M	-190.3M	-81.1M	-287M	4.2M	-31.1M	-97.9M	-147.7M	-4M	-270M

Willis Lease Finance Corporation 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

Split history

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