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Aircastle (AYR) Financials

AYR
Trailing 12 months to May 31, 2026
Revenue $950.8M +8.6% YoY
Net Income $178.4M +13.7% YoY
EPS (Diluted) Not reported for the trailing 12 months
Operating Cash Flow $452.8M +1.8% YoY
Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended May 31, 2026 Reported Currency USD FYE February

Newest figures come from the 10-Q for Q1 FY2027, filed Jul 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AYR SEC filings page.

Aircastle (AYR) reported $950.8M in revenue over the twelve months to May 31, 2026, up 8.6% 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).

Rhea AI AYR FY2026

AYR’s dominant mechanic is improving reported profitability while a debt-heavy, asset-intensive balance sheet still requires external capital.

From FY2024 to FY2026, net margin rose from 9.7% to 19.9%, but operating cash flow increased only from $370M to $483M while net income more than doubled. Operating cash flow still exceeded earnings, yet the conversion ratio narrowed from 4.4x to 2.5x, indicating that non-cash support such as depreciation became less dominant relative to reported profit.

With assets equal to roughly 9.2x revenue and return on assets at only 2.2%, AYR’s economics are shaped more by the capital tied up in the business than by sales volume alone. Debt reached $5.3B while debt-to-equity remained near 2.0x, because equity also expanded.

As revenue rebounded from FY2025 to FY2026, selling, general and administrative expense rose only 3.3% while revenue increased 18.8%, pointing to overhead leverage rather than a gross-margin explanation. FY2026 investing outflows of $898M exceeded operating cash flow of $483M, with $315M of financing inflows helping fund that investment.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Aircastle 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.

Piotroski F-Score Partial
6/7

Aircastle 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.

Earnings Quality Cash-Backed
2.49x

For every $1 of reported earnings, Aircastle generates $2.49 in operating cash flow ($483.1M OCF vs $194.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$235.5M
YoY-9.4%
QoQ-6.3%
5Y CAGR+7.3%
10Y CAGR+2.5%

Aircastle generated $235.5M in revenue in Q1 2027. This represents a decrease of 9.4% from the same quarter a year earlier. Against the prior quarter it is down 6.3%.

Net Income
$33.6M
YoY-31.8%
QoQ-40.9%
10Y CAGR-0.8%

Aircastle reported $33.6M in net income in Q1 2027. This represents a decrease of 31.8% from the same quarter a year earlier. Against the prior quarter it is down 40.9%.

EBITDA

Not reported for Q1 2027.

EPS (Diluted)

Not reported for Q1 2027.

Cash & Balance Sheet

Cash & Debt
$440.9M
YoY+97.5%
QoQ+145.1%
5Y CAGR-7.3%
10Y CAGR-2.9%

Aircastle held $440.9M in cash against $5.4B in long-term debt as of Q1 2027.

Shares Outstanding
17,840
YoY0.0%
QoQ0.0%
5Y CAGR+4.9%
10Y CAGR-56.8%

Aircastle had 17,840 shares outstanding in Q1 2027. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q1 2027.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Net Margin
14.3%
YoY-4.7pp
QoQ-8.3pp
5Y change+20.1pp
10Y change-5.5pp

Aircastle's net profit margin was 14.3% in Q1 2027, showing the share of revenue converted to profit. This is down 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.3 percentage points.

Return on Equity
1.3%
YoY-0.7pp
QoQ-0.8pp
5Y change+1.9pp
10Y change-0.8pp

Aircastle's ROE was 1.3% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.

Gross Margin

Not reported for Q1 2027.

Operating Margin

Not reported for Q1 2027.

Capital Allocation

None of these metrics is reported for Q1 2027.

AYR 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.

AYR quarterly income statement
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Revenue$235.5M-9.4%$251.3M+22.3%$236.4M+22.1%$227.5M+5.0%$259.8M+26.6%$205.6M-10.7%$193.6M-18.9%$216.7M+29.0%
SG&A Expenses$21.6M+4.3%$23.5M-9.0%$21.0M+14.2%$24.2M+20.7%$20.7M-6.2%$25.8M+8.1%$18.4M-0.4%$20.1M+6.4%
Interest Expense$73.2M+3.5%$72.0M+10.6%$73.4M+15.1%$73.3M+11.0%$70.7M+6.9%$65.1M+4.6%$63.7M+4.4%$66.0M+5.7%
Income Tax$7.5M-40.8%$5.3M+5.3%$5.6M+30.3%$5.2M-42.1%$12.7M+256.1%$5.1M-36.5%$4.3M-28.9%$9.0M+277.1%
Net Income$33.6M-31.8%$56.8M-6.5%$30.7M+69.6%$57.2M+99.7%$49.3M+206.5%$60.8M+106.8%$18.1M-29.4%$28.7M+419.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

AYR 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.

AYR quarterly balance sheet
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Total Assets$9.2B+6.2%$9.0B+5.6%$9.0B+13.7%$8.9B+13.4%$8.6B+10.4%$8.5B+10.8%$7.9B+8.8%$7.8B-0.2%
Cash & Equivalents$440.9M+97.5%$179.9M-35.5%$138.6M-73.5%$147.3M-65.9%$223.2M+35.6%$279.1M+114.7%$523.8M+394.9%$432.6M-40.5%
Short-Term Investments$0$0$0$0$0$0$0$0
Accounts Receivable$21.5M+77.1%$18.2M+88.8%$9.0M-45.1%$12.1M-5.2%$12.1M+29.4%$9.7M-22.8%$16.4M+26.1%$12.8M+8.9%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$6.6B+7.6%$6.3B+5.6%$6.4B+17.4%$6.3B+17.3%$6.1B+7.3%$6.0B+7.9%$5.5B+5.2%$5.4B-6.8%
Long-Term Debt$5.4B+7.3%$5.3B+6.0%$5.3B+18.9%$5.2B+17.7%$5.0B+6.4%$5.0B+5.5%$4.5B+2.9%$4.5B-9.1%
Total Equity$2.6B+2.8%$2.7B+5.6%$2.6B+5.4%$2.6B+5.0%$2.5B+18.3%$2.5B+18.4%$2.5B+17.6%$2.5B+18.1%
Retained Earnings$236.0M+42.9%$288.9M+97.0%$242.5M+126.0%$211.8M+137.4%$165.1M+132.3%$146.6M+166.6%$107.3M+197.2%$89.2M+752.2%

Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities.

AYR 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.

AYR quarterly cash flow statement
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Operating Cash Flow$97.7M-23.6%$115.8M+19.4%$148.6M-8.4%$90.8M+56.8%$127.9M-13.0%$97.0M+58.5%$162.2M+32.2%$57.9M-32.6%
Depreciation & Amortization$92.8M-3.1%$95.4M+4.8%$96.1M+9.6%$96.8M+10.4%$95.8M+7.2%$91.0M+5.3%$87.6M+1.1%$87.7M+1.6%
Investing Cash Flow$16.6M+106.6%-$12.9M+98.5%-$255.1M-133.9%-$380.5M-342.2%-$249.2M-51.4%-$853.7M-110.3%-$109.1M+51.0%$157.1M+893.7%
Financing Cash Flow$146.8M+124.2%-$61.7M-112.1%$97.8M+156.7%$213.8M+303.7%$65.5M+25.4%$512.0M+38.8%$38.1M+107.3%$53.0M-89.2%
Dividends Paid$10.5M-51.2%$0$10.5M0.0%$30.8M$21.5M+104.8%$0$10.5M0.0%$0

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.

AYR 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.

AYR quarterly financial ratios
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Net Margin14.3%-4.7pp22.6%-7.0pp13.0%+3.6pp25.2%+11.9pp19.0%+11.1pp29.6%+16.8pp9.3%-1.4pp13.2%+9.9pp
Return on Equity1.3%-0.7pp2.1%-0.3pp1.2%+0.4pp2.2%+1.1pp1.9%+1.2pp2.4%+1.0pp0.7%-0.5pp1.2%+0.9pp
Return on Assets0.4%-0.2pp0.6%-0.1pp0.3%+0.1pp0.6%+0.3pp0.6%+0.4pp0.7%+0.3pp0.2%-0.1pp0.4%+0.3pp
Debt-to-Equity2.07+0.1x1.970.0x2.03+0.2x2.03+0.2x1.98-0.2x1.96-0.2x1.80-0.3x1.81-0.5x
Asset Turnover0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x0.020.0x0.020.0x0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Frequently Asked Questions

What is Aircastle's annual revenue?

Aircastle (AYR) reported $975.1M in total revenue for fiscal year 2026. This represents a 18.8% 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 Aircastle's revenue growing?

Aircastle (AYR) revenue grew by 18.8% year-over-year, from $821.0M to $975.1M in fiscal year 2026.

Is Aircastle profitable?

Yes, Aircastle (AYR) reported a net income of $194.0M in fiscal year 2026, with a net profit margin of 19.9%.

As of fiscal year 2026, Aircastle (AYR) had $179.9M in cash and equivalents against $5.3B in long-term debt.

Aircastle (AYR) had a net profit margin of 19.9% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Aircastle (AYR) has a return on equity of 7.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Aircastle (AYR) generated $483.1M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Aircastle (AYR) had $9.0B in total assets as of fiscal year 2026, including both current and long-term assets.

Aircastle (AYR) had 17,840 shares outstanding as of fiscal year 2026.

Aircastle (AYR) had a debt-to-equity ratio of 1.97 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Aircastle (AYR) had a return on assets of 2.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Aircastle (AYR) 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.

Aircastle (AYR) has an earnings quality ratio of 2.49x, 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.

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