Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AL SEC filings page.
Air Lease Corporation (AL) reported $2.9B in revenue over the twelve months to Jun 30, 2026, down 0.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Air Lease’s dominant mechanic is an asset-heavy, debt-funded platform where 2025 earnings surged faster than cash generation.
The earnings-to-cash gap widened: net margin reached36.1% in FY2025 from15.7% , while operating cash flow rose only modestly; reported earnings therefore expanded much faster than cash conversion. Cash generation was also helped by lighter reinvestment: free-cash-flow margin held at49.6% as capital expenditures fell to$238M .
The balance sheet became less debt-intensive relative to equity: debt-to-equity fell to 2.3x in FY2025 from 2.7x a year earlier even as assets expanded. Liabilities still stood at
Interest expense reached
Financial Health Signals
Air Lease Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Air Lease Corporation passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Air Lease Corporation generates $1.59 in operating cash flow ($1.7B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Air Lease Corporation generated $575.3M in revenue in Q2 2026. This represents a decrease of 21.4% from the same quarter a year earlier. Against the prior quarter it is down 22.2%.
Air Lease Corporation reported -$7.7M in net income in Q2 2026. This represents a decrease of 102.0% from the same quarter a year earlier. Against the prior quarter it is down 106.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Air Lease Corporation generated $118.5M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 72.2% from the same quarter a year earlier. Against the prior quarter it is down 73.4%.
Air Lease Corporation held $368.6M in cash against $20.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Air Lease Corporation's net profit margin was -1.3% in Q2 2026, showing the share of revenue converted to profit. This is down 54.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 18.4 percentage points.
Air Lease Corporation's ROE was -0.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 4.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Air Lease Corporation invested $15.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 66.0% from the same quarter a year earlier. Against the prior quarter it is down 72.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
AL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $575.3M-21.4% | $739.2M+0.1% | $820.4M+15.1% | $725.4M+5.1% | $731.7M+9.7% | $738.3M+11.3% | $712.9M-0.5% | $690.2M+4.7% |
| SG&A Expenses | $105.9M+112.5% | $60.2M+1.4% | $58.5M+20.9% | $51.8M+16.6% | $49.9M+9.7% | $59.3M+24.3% | $48.3M-2.9% | $44.4M+3.9% |
| Interest Expense | $249.2M+12.1% | $214.3M-3.7% | $217.3M-1.8% | $228.4M+5.0% | $222.3M+9.3% | $222.6M+14.3% | $221.4M+21.0% | $217.5M+23.9% |
| Income Tax | -$1.3M-101.3% | $24.0M-75.0% | $45.5M+68.5% | $38.5M+46.7% | $101.4M+309.0% | $95.8M+249.0% | $27.0M-40.4% | $26.3M-19.4% |
| Net Income | -$7.7M-102.0% | $125.9M-66.5% | $180.9M+60.2% | $146.5M+40.9% | $385.2M+274.1% | $375.8M+248.4% | $112.9M-48.9% | $104.0M-21.5% |
| EPS (Basic) | N/A | $1.03-68.5% | $1.52+83.1% | $1.21+47.6% | $3.35+313.6% | $3.27+271.6% | $0.83-56.3% | $0.82-25.5% |
| EPS (Diluted) | N/A | $1.02 | $1.50+80.7% | $1.21+47.6% | $3.33+311.1% | $3.26+274.7% | $0.83-56.1% | $0.82-25.5% |
| Diluted Shares (Avg) | N/A | 112M | N/A | 112M+0.5% | 112M+0.4% | 112M+0.4% | N/A | 112M+0.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
AL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $30.5B-8.4% | $33.2B+2.5% | $32.9B+1.9% | $33.4B+3.8% | $33.3B+7.3% | $32.4B+4.7% | $32.3B+6.0% | $32.2B+8.4% |
| Cash & Equivalents | $368.6M-19.0% | $554.1M+21.3% | $466.4M-1.3% | $452.2M-1.9% | $454.8M+0.1% | $456.6M-17.6% | $472.6M+2.5% | $460.8M-10.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $24.4B-2.7% | $24.6B+0.5% | $24.4B-1.4% | $25.0B+2.3% | $25.1B+5.7% | $24.5B+3.4% | $24.7B+6.2% | $24.5B+7.8% |
| Long-Term Debt | $20.0B-1.6% | $19.8B-0.4% | $19.7B-2.4% | $20.2B+0.2% | $20.3B+3.3% | $19.9B+2.1% | $20.2B+5.4% | $20.2B+8.1% |
| Total Equity | $6.1B-25.6% | $8.5B+8.7% | $8.5B+12.5% | $8.3B+8.7% | $8.2B+12.5% | $7.9B+8.8% | $7.5B+5.2% | $7.7B+10.3% |
| Retained Earnings | -$141.0M-102.9% | $5.2B+15.5% | $5.1B+22.8% | $4.9B+21.3% | $4.8B+20.6% | $4.5B+13.8% | $4.1B+7.2% | $4.1B+10.8% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
AL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $134.4M-71.6% | $503.3M+29.6% | $414.1M-3.7% | $458.6M-0.7% | $473.6M+14.5% | $388.3M+4.6% | $430.0M-7.4% | $461.9M+15.1% |
| Depreciation & Amortization | $195.9M-35.6% | $309.8M+3.6% | $309.1M+5.0% | $311.1M+7.2% | $304.3M+7.9% | $299.0M+7.8% | $294.4M+7.8% | $290.1M+8.5% |
| Stock-Based Compensation | $0-100.0% | $5.1M-71.1% | N/A | $9.6M+21.3% | $12.7M+43.4% | $17.6M+112.9% | N/A | $7.9M-9.2% |
| Capital Expenditures | $15.8M-66.0% | $58.3M-20.0% | $71.9M-30.3% | $46.3M-49.7% | $46.5M-30.9% | $72.9M-41.5% | $103.2M+3.2% | $92.1M+15.4% |
| Free Cash Flow | $118.5M-72.2% | $445.0M+41.1% | $342.1M+4.7% | $412.3M+11.5% | $427.1M+23.3% | $315.5M+27.8% | $326.8M-10.4% | $369.8M+15.0% |
| Investing Cash Flow | -$9.4B-981.4% | -$572.2M-459.9% | $85.4M+123.8% | -$434.1M+65.9% | -$870.2M-12.1% | -$102.2M+83.8% | -$358.1M+67.7% | -$1.3B-402.1% |
| Financing Cash Flow | $9.2B+2227.8% | $153.5M+150.9% | -$485.3M-694.6% | -$27.7M-103.4% | $394.9M+50.5% | -$301.6M-186.1% | -$61.1M-110.3% | $819.2M+484.7% |
| Dividends Paid | $0-100.0% | $24.6M+0.3% | $24.6M+5.1% | $24.6M+5.1% | $24.6M+5.1% | $24.5M+5.1% | $23.4M+5.3% | $23.4M+5.3% |
Not reported in any period shown, so not listed: Share Buybacks.
AL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -1.3%-54.0pp | 17.0%-33.9pp | 22.1%+6.2pp | 20.2%+5.1pp | 52.6%+37.2pp | 50.9%+34.7pp | 15.8%-15.0pp | 15.1%-5.0pp |
| Return on Equity | -0.1%-4.8pp | 1.5%-3.3pp | 2.1%+0.6pp | 1.8%+0.4pp | 4.7%+3.3pp | 4.8%+3.3pp | 1.5%-1.6pp | 1.4%-0.5pp |
| Return on Assets | 0.0%-1.2pp | 0.4%-0.8pp | 0.5%+0.2pp | 0.4%+0.1pp | 1.2%+0.8pp | 1.2%+0.8pp | 0.4%-0.4pp | 0.3%-0.1pp |
| Debt-to-Equity | 3.27+0.8x | 2.32-0.2x | 2.33-0.4x | 2.42-0.2x | 2.47-0.2x | 2.53-0.2x | 2.680.0x | 2.63-0.1x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
| FCF Margin | 20.6%-37.8pp | 60.2%+17.5pp | 41.7%-4.1pp | 56.8%+3.2pp | 58.4%+6.5pp | 42.7%+5.5pp | 45.8%-5.0pp | 53.6%+4.8pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Air Lease Corporation AL | FY2025 | $3.0B | $1.1B | 36.1% | $7.3B | — |
| GATX Corporation GATX | FY2025 | $1.7B | $333.3M | 19.1% | $6.3B | 14/100 |
| Ryder System, Inc. R | FY2025 | $12.7B | $499.0M | 3.9% | $9.3B | 19/100 |
| Avis Budget Group, Inc. CAR | FY2025 | $11.7B | -$889.0M | -7.6% | $4.3B | 6/100 |
| Herc Holdings Inc. HRI | FY2025 | $4.4B | $1.0M | 0.0% | $4.7B | 36/100 |
| WillScot Holdings Corporation WSC | FY2025 | $2.3B | -$53.0M | -2.3% | $3.4B | 42/100 |
Where Air Lease Corporation Ranks
Frequently Asked Questions
What is Air Lease Corporation's annual revenue?
Air Lease Corporation (AL) reported $3.0B in total revenue for fiscal year 2025. This represents a 10.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Air Lease Corporation's revenue growing?
Air Lease Corporation (AL) revenue grew by 10.3% year-over-year, from $2.7B to $3.0B in fiscal year 2025.
Is Air Lease Corporation profitable?
Yes, Air Lease Corporation (AL) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 36.1%.
How much debt does Air Lease Corporation have?
As of fiscal year 2025, Air Lease Corporation (AL) had $466.4M in cash and equivalents against $19.7B in long-term debt.
What is Air Lease Corporation's net profit margin?
Air Lease Corporation (AL) had a net profit margin of 36.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Air Lease Corporation pay dividends?
Yes, Air Lease Corporation (AL) paid $0.88 per share in dividends during fiscal year 2025.
What is Air Lease Corporation's return on equity (ROE)?
Air Lease Corporation (AL) has a return on equity of 12.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Air Lease Corporation's free cash flow?
Air Lease Corporation (AL) generated $1.5B in free cash flow during fiscal year 2025. This represents a 16.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Air Lease Corporation's operating cash flow?
Air Lease Corporation (AL) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Air Lease Corporation's total assets?
Air Lease Corporation (AL) had $32.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Air Lease Corporation's capital expenditures?
Air Lease Corporation (AL) invested $237.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Air Lease Corporation's debt-to-equity ratio?
Air Lease Corporation (AL) had a debt-to-equity ratio of 2.33 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Air Lease Corporation's return on assets (ROA)?
Air Lease Corporation (AL) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Air Lease Corporation's Piotroski F-Score?
Air Lease Corporation (AL) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Air Lease Corporation's earnings high quality?
Air Lease Corporation (AL) has an earnings quality ratio of 1.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.