AerCap Holdings N.V. (AER) 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	$4.14	$5.14	+24.2%	—	$2.2B	—
Q1 26	$3.71	$5.39	+45.3%	—	$2.2B	—
Q4 25	$3.4	$3.95	+16.2%	—	$2.2B	—
Q3 25	$3.08	$4.97	+61.4%	—	$2.3B	—
Q2 25	$2.68	$2.83	+5.6%	—	$1.9B	—
Q1 25	$2.8	$3.68	+31.4%	—	$2.1B	—
Q4 24	$2.57	$3.31	+28.8%	—	$2.1B	—
Q3 24	$2.42	$2.41	-0.4%	—	$1.9B	—
Q2 24	$2.34	$3.01	+28.6%	—	$2B	—
Q1 24	$2.39	$3.29	+37.7%	—	$2B	—
Q4 23	$2.45	$3.11	+26.9%	—	$1.9B	—
Q3 23	$2.39	$2.81	+17.6%	—	$1.9B	—
Q2 23	$2.06	$2.56	+24.3%	—	$1.9B	—
Q1 23	$2.03	$2.34	+15.3%	—	$1.9B	—
Q4 22	$1.96	$2.66	+35.7%	—	$1.8B	—
Q3 22	$1.39	$2.21	+59.0%	—	$1.7B	—

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	—	$21.8	—	—	$8.5B	—
FY24	—	$11.1	—	—	$8B	—
FY23	—	$14	—	—	$7.6B	—
FY22	—	-$3.02	—	—	$6.9B

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	$5.2B	$5B	$4.8B	$4.9B	$4.5B	$4.6B	$6.9B	$7.6B	$8B	$8.5B
YoY change	-2.56%	-2.23%	-4.71%	+2.86%	-8.99%	+2.12%	+50.7%	+9.54%	+5.57%	+6.5%

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	5.2B	5B	4.8B	4.9B	4.5B	4.6B	6.9B	7.6B	8B	8.5B
Cost of revenue	3.5B	3.4B	3.3B	3.3B	3.2B	3.3B	4.8B	5B	5.4B	5.3B
Gross profit	1.7B	1.7B	1.5B	1.7B	1.3B	1.3B	2.1B	2.5B	2.6B	3.2B
Gross margin	32.7%	33%	31.3%	34%	28.4%	28.4%	30.5%	33.4%	32.7%	38%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	351M	348.3M	305.2M	267.5M	242.2M	317.9M	399.5M	464.1M	488.9M	545.9M
Operating expenses	373.7M	364.3M	321.7M	287.1M	265.1M	317.9M	399.5M	464.1M	488.9M	545.9M
Operating income	1.3B	1.3B	1.2B	1.4B	1B	983.6M	1.7B	2.1B	2.1B	2.7B
Operating margin	25.9%	26%	24.9%	28.6%	23%	21.4%	24.7%	27.3%	26.6%	31.6%
Non-operating income, net	-135M	-75.9M	-44.2M	-70.1M	-1.3B	164.3M	-2.7B	1.2B	137M	1.4B
Pretax income	1.2B	1.2B	1.2B	1.3B	-314.6M	1.1B	-1B	3.3B	2.3B	4.1B
Income tax	173.5M	164.7M	144.1M	167.7M	-17.2M	162.5M	-164.1M	291.1M	323.7M	555.2M
Net income	1B	1.1B	1B	1.2B	-294.9M	1B	-721.2M	3.1B	2.1B	3.8B
Net margin	20.2%	21.4%	21.2%	23.6%	-6.56%	22%	-10.4%	41.6%	26.2%	44%
EBITDA	3.3B	3.1B	2.9B	3.2B	4B	3.2B	6.9B	3.3B	4.6B	3.9B
EPS	5.64	6.68	7	8.51	-2.34	6.83	-3.02	14	11.1	21.8
Diluted EPS	5.52	6.43	6.83	8.43	-2.34	6.71	-3.02	13.8	10.8	21.3

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	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	1.9B	1.9B	2B	2B	1.9B	2.1B	2.1B	1.9B	2.3B	2.2B	2.2B	2.2B
Cost of revenue	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B	1.2B	1.3B	1.2B	1.5B	1.2B	1.3B
Gross profit	655.7M	633.3M	744.5M	670.7M	504M	696.3M	833.7M	604.4M	1.1B	737.3M	1B	907.1M
Gross margin	34.7%	33.4%	36.9%	34.2%	25.9%	33.6%	40.1%	32%	46.1%	32.9%	45.7%	41.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	111.9M	121.9M	119.3M	125.3M	121.3M	123M	113.1M	170.8M	128.9M	133.1M	126.3M	129.4M
Operating expenses	111.9M	121.9M	119.3M	125.3M	121.3M	123M	113.1M	170.8M	128.9M	133.1M	126.3M	129.4M
Operating income	543.8M	511.4M	625.2M	545.3M	382.7M	573.4M	720.6M	433.6M	935.7M	604.1M	899.1M	777.7M
Operating margin	28.7%	27%	31%	27.8%	19.6%	27.7%	34.7%	23%	40.5%	26.9%	40.1%	35.9%
Non-operating income, net	634.9M	575.5M	33.8M	-52.9M	9.3M	147.1M	-4.6M	945.9M	430.8M	25.4M	-4.8M	17.6M
Pretax income	1.2B	1.1B	658.8M	492.4M	392M	720.2M	716M	1.4B	1.4B	630M	894.3M	795.3M
Income tax	110.7M	39M	94.1M	76.3M	60.7M	92.5M	111M	168.4M	198.2M	77.7M	138.6M	123.1M
Net income	1.1B	1.1B	604.2M	448.2M	375M	671.2M	642.9M	1.3B	1.2B	632.8M	818.1M	725.7M
Net margin	58.6%	58.4%	29.9%	22.9%	19.3%	32.4%	31%	66.7%	52.7%	28.2%	36.5%	33.5%
EBITDA	531.9M	570.2M	1.2B	1.2B	1B	1.1B	1.4B	156.6M	1.2B	1.2B	1.5B	1.4B
EPS	4.93	—	3.09	2.33	2	—	3.58	7.24	7.09	3.86	5.06	4.65
Diluted EPS	4.86	—	3.02	2.28	1.95	—	3.48	7.09	6.98	3.79	4.96	4.59

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	7.7B	—	5.7B	8.3B	5.8B	—	—	16.7B	—	24.8B	23B
Enterprise value	33.4B	—	34.1B	37.7B	33.4B	—	—	61.6B	—	67B	64.2B
Shares outstanding	185.5M	161.1M	145.2M	134.6M	127.7M	146.4M	240.5M	224.2M	189.8M	172.2M	172.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	7.43	—	5.65	7.09	—	—	—	5.29	—	6.6	7.16
P/S	1.5	—	1.2	1.68	1.3	—	—	2.2	—	2.91	2.55
P/B	0.9	—	0.65	0.88	0.65	—	—	1	—	1.35	1.22
EV/EBITDA	10.2	—	11.7	11.9	8.29	—	—	18.4	—	17	12.5
EV/Sales	6.48	—	7.09	7.63	7.44	—	—	8.13	—	7.87	7.16
Earnings yield	13.5%	—	17.7%	14.1%	—	—	—	18.9%	—	15.2%	14%
FCF yield	-5.95%	—	-54.1%	-19.6%	16.3%	—	—	-5.83%	—	-2.75%	-6.78%
PEG	—	—	—	—	—	—	—	—	—	—	-0.2

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	32.7%	33%	31.3%	34%	28.4%	28.4%	30.5%	33.4%	32.7%	38%	41.9%
Operating margin	25.9%	26%	24.9%	28.6%	23%	21.4%	24.7%	27.3%	26.6%	31.6%	57.5%
Net margin	20.2%	21.4%	21.2%	23.6%	-6.56%	22%	-10.4%	41.6%	26.2%	44%	37.9%
ROE	12.1%	12.5%	11.5%	12.4%	-3.3%	6.06%	-4.45%	19%	12.2%	20.5%	18.7%
ROA	2.5%	2.57%	2.35%	2.67%	-0.7%	1.35%	-1.03%	4.42%	2.94%	5.23%	4.41%
ROIC	3.33%	3.21%	2.81%	3.18%	2.83%	1.29%	2.79%	3.06%	2.97%	3.85%	4.61%
Return on tangible assets	2.85%	2.82%	2.52%	2.81%	-0.73%	1.55%	-1.15%	4.81%	3.14%	5.51%	4.98%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.39	4.18	3.09	3.66	3.78	3.71	4.12	3.73	3.17	3.45	1.3
Quick ratio	3.35	4.14	3.06	3.66	3.78	3.68	4.08	3.68	3.12	3.38	3.4
Debt / equity	3.23	3.29	3.32	3.25	3.23	3.04	2.88	2.81	2.64	2.38	2.33
Debt / assets	0.67	0.68	0.68	0.7	0.69	0.68	0.67	0.65	0.63	0.61	0.6
Net debt / EBITDA	7.83	8.59	9.7	9.32	6.85	15.3	6.52	13.4	9.66	10.7	7.69
Interest coverage	1.22	1.18	1.02	1.09	0.83	0.8	—	—	—	—	—
Effective tax rate	14.5%	13.3%	12.5%	12.5%	0%	14.2%	0%	8.89%	14.3%	13.6%	14.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	27.8	31.3	33.1	36.7	35.2	31.3	28.8	33.8	42.1	49.5	54.9
EPS (basic)	5.64	6.68	7	8.51	-2.34	6.83	-3.02	14	11.1	21.8	21.8
EPS (diluted)	5.52	6.43	6.83	8.43	-2.34	6.71	-3.02	13.8	10.8	21.3	20.4
Book value per share	46.3	53.6	61.2	69.7	69.9	113.7	67.3	74	90.5	106.4	119.2
FCF per share	-2.47	-12.9	-21.4	-12.1	7.41	13	5.4	-4.33	-6.21	-3.96	-1.95
Cash per share	11	10.3	8.29	8.33	9.78	11.8	6.64	7.26	6.37	8.01	11.1
Capex per share	20.7	32.4	41	35.1	9.27	12.2	16.1	27.8	34.9	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	74.5%	103.7%	123.9%	95.8%	26.3%	39%	56%	82.3%	82.7%	—	—
Capex / operating cash flow	124.9%	185.1%	217.5%	158.7%	137%	53%	71.2%	121.9%	116.4%	—	—
Payout ratio	—	—	—	—	—	—	—	—	6.67%	5.13%	6.58%
Dividend yield	—	—	—	—	—	—	—	—	—	0.78%	1.07%

Yield

1.07%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.40

ex-dividend Aug 12, 2026

Payout ratio

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	$0.40
May 13, 2026	$0.40
Feb 25, 2026	$0.40
Aug 13, 2025	$0.27
May 14, 2025	$0.27
Mar 12, 2025	$0.27
Nov 13, 2024	$0.25
Aug 14, 2024	$0.25

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	$1.9B	$1.9B	$2B	$2B	$1.9B	$2.1B	$2.1B	$1.9B	$2.3B	$2.2B	$2.2B	$2.2B
YoY change	+11.6%	+5.38%	+8.17%	+1.75%	+2.98%	+9.31%	+2.92%	-3.65%	+18.5%	+8.3%	+7.93%	+14.9%

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	2B	1.7B	1.2B	1.1B	1.2B	1.7B	1.6B	1.6B	1.2B	1.4B
Receivables	64.9M	73.9M	40.4M	47.9M	170.7M	181.5M	132.2M	73.7M	68.1M	48.5M
Inventory	52.7M	39M	31M	3.2M	0	48.6M	55.9M	85.7M	90.9M	112.4M
Total current assets	3.7B	4.2B	3B	3.2B	3.4B	6.4B	5.6B	6B	5.4B	6.1B
Property, plant & equipment	34.8B	35.4B	38.1B	38.9B	37.3B	62.5B	59.1B	60.7B	62.1B	62.1B
Goodwill & intangibles	5.1B	3.7B	2.9B	2.2B	1.7B	9.3B	7.1B	5.8B	4.5B	3.6B
Total assets	41.6B	42B	43.2B	43.7B	42B	74.6B	69.7B	71.3B	71.4B	71.7B
Accounts payable	617.6M	562.3M	559.1M	494.5M	492.8M	1.2B	812.1M	792.6M	873.8M	934.8M
Short-term debt	—	—	—	1B	49.4M	173.6M	—	—	—	—
Total current liabilities	1.1B	1B	980.6M	884.4M	892.6M	1.7B	1.4B	1.6B	1.7B	1.8B
Long-term debt	27.7B	28.4B	29.5B	29.5B	28.8B	50.4B	46.7B	46.6B	45.4B	43.6B
Total liabilities	33B	33.4B	34.3B	34.4B	33.1B	57.9B	53.5B	54.7B	54.3B	53.3B
Shareholders' equity	8.6B	8.6B	8.9B	9.4B	8.9B	16.6B	16.2B	16.6B	17.2B	18.3B
Total debt	27.7B	28.4B	29.5B	30.5B	28.8B	50.6B	46.7B	46.6B	45.4B	43.6B
Net debt	25.7B	26.8B	28.3B	29.4B	27.6B	48.8B	45.1B	44.9B	44.1B	42.2B

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	—	—	—	—	—	—	—	—	1.8B	1.4B	1.5B	1.7B
Receivables	—	—	—	—	—	—	—	—	62.4M	48.5M	55.8M	76.7M
Inventory	—	—	—	—	—	—	—	—	118.6M	112.4M	102.3M	90.8M
Total current assets	—	—	—	—	—	—	—	—	5.6B	6.1B	6.1B	5.9B
Property, plant & equipment	—	—	—	—	—	—	—	—	62.3B	62.1B	62B	62B
Goodwill & intangibles	—	—	—	—	—	—	—	—	3.8B	3.6B	3.4B	3.1B
Total assets	—	—	—	—	—	—	—	—	71.9B	71.7B	71.4B	71.2B
Accounts payable	—	—	—	—	—	—	—	—	911.5M	934.8M	911.1M	869.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	1.8B	1.8B	1.7B	1.7B
Long-term debt	—	—	—	—	—	—	—	—	44.1B	43.6B	43.1B	42.8B
Total liabilities	—	—	—	—	—	—	—	—	53.8B	53.3B	53B	52.8B
Shareholders' equity	—	—	—	—	—	—	—	—	18.1B	18.3B	18.4B	18.4B
Total debt	—	—	—	—	—	—	—	—	44.1B	43.6B	43.1B	42.8B
Net debt	—	—	—	—	—	—	—	—	42.3B	42.2B	41.6B	41.1B

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	1B	1.1B	1B	1.2B	-294.9M	1B	-721.2M	3.1B	2.1B	3.8B
Depreciation & amortization	1.8B	1.7B	1.7B	1.7B	1.6B	1.7B	2.4B	2.5B	2.6B	2.6B
Stock-based compensation	—	—	95.2M	69.4M	69.2M	96.1M	102.8M	97.1M	111.1M	166.2M
Change in working capital	554.4M	120M	29.6M	-82.4M	-528.5M	344.9M	152.5M	-72M	247M	359.7M
Operating cash flow	3.1B	2.8B	2.7B	3B	864.2M	3.4B	5.4B	5.1B	5.7B	5.4B
Capital expenditure	-3.8B	-5.2B	-5.9B	-4.7B	-1.2B	-1.8B	-3.9B	-6.2B	-6.6B	—
Investing cash flow	-1.3B	-3.3B	-4B	-3B	-712.3M	-23.5B	-2.2B	-3.2B	-3.7B	4.4B
Dividends paid	—	—	—	—	—	—	—	—	-140M	-192.4M
Share repurchases	-1B	-1.1B	-834.4M	-639.9M	-127.8M	-76.2M	-17.4M	-2.6B	-1.5B	-2.5B
Financing cash flow	-2.4B	-87.6M	600.4M	-265M	-1.2B	20.2B	-3.2B	-2B	-2.1B	-3.7B
Net change in cash	-688.9M	-564.2M	-622.2M	-240.2M	-1.1B	103.2M	118.5M	-81.3M	-171.4M	6.1B
Free cash flow	-458.9M	-2.1B	-3.1B	-1.6B	946.7M	1.9B	1.3B	-971M	-1.2B	-681.2M

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	—	—	—	—	—	—	—	—	1.2B	632.8M	818.1M	725.7M
Depreciation & amortization	—	—	—	—	—	—	—	—	665.5M	653M	639M	641.7M
Stock-based compensation	—	—	—	—	—	—	—	—	30.3M	35.8M	31.6M	32.8M
Change in working capital	—	—	—	—	—	—	—	—	200.2M	55.5M	-44.3M	9.1M
Operating cash flow	—	—	—	—	—	—	—	—	1.5B	1.2B	1.4B	1.5B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	1.6B	1.2B	1.3B	1.1B
Dividends paid	—	—	—	—	—	—	—	—	-46.4M	-50.7M	-64.9M	-61.8M
Share repurchases	—	—	—	—	—	—	—	—	-967.6M	-466.4M	-744.2M	-739.6M
Financing cash flow	—	—	—	—	—	—	—	—	-3B	-736.7M	-1.1B	-1B
Net change in cash	—	—	—	—	—	—	—	—	88.2M	1.6B	1.6B	1.5B
Free cash flow	-267.5M	-180.6M	-255.8M	-214.5M	-365.9M	-343.5M	-1.2B	861.3M	484.7M	-861.4M	-69.9M	139.3M

AerCap Holdings N.V. 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