FTAI Aviation Ltd Financials

FTAI

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows FTAI Aviation Ltd (FTAI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).

Financial Health Signals

Financial Profile 49/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

FTAI Aviation Ltd's revenue surged 48.2% year-over-year to $1.7B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

FTAI Aviation Ltd has elevated debt relative to equity (D/E of 42.28), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

100

With a current ratio of 3.53, FTAI Aviation Ltd holds $3.53 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While FTAI Aviation Ltd generated -$188.0M in operating cash flow, capex of $9.2M consumed most of it, leaving -$197.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

FTAI Aviation Ltd's ROE of 10.7% shows moderate profitability relative to equity, earning a score of 43/100. This is down from 139.1% the prior year.

Piotroski F-Score Weak

2/9

FTAI Aviation Ltd passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

-21.65x

For every $1 of reported earnings, FTAI Aviation Ltd generates $-21.65 in operating cash flow (-$188.0M OCF vs $8.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$1.7B

YoY+48.2%

5Y CAGR+24.6%

10Y CAGR+40.5%

FTAI Aviation Ltd generated $1.7B in revenue in fiscal year 2024. This represents an increase of 48.2% from the prior year.

EBITDA

N/A

Free Cash Flow

-$197.2M

YoY-260.5%

FTAI Aviation Ltd generated -$197.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 260.5% from the prior year.

Net Income

$8.7M

YoY-96.4%

5Y CAGR-47.8%

10Y CAGR+1.1%

FTAI Aviation Ltd reported $8.7M in net income in fiscal year 2024. This represents a decrease of 96.4% from the prior year.

EPS (Diluted)

$-0.32

YoY-115.2%

FTAI Aviation Ltd earned $-0.32 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 115.2% from the prior year.

Cash & Debt

$115.1M

YoY+26.8%

5Y CAGR-12.7%

10Y CAGR+17.9%

FTAI Aviation Ltd held $115.1M in cash against $3.4B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.20

YoY+0.0%

5Y CAGR+29.5%

FTAI Aviation Ltd paid $1.20 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

103M

YoY+2.3%

5Y CAGR+3.8%

10Y CAGR+6.7%

FTAI Aviation Ltd had 103M shares outstanding in fiscal year 2024. This represents an increase of 2.3% from the prior year.

Gross Margin

52.4%

YoY-4.7pp

FTAI Aviation Ltd's gross margin was 52.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 4.7 percentage points from the prior year.

Operating Margin

N/A

Net Margin

0.5%

YoY-20.3pp

5Y CAGR-38.1pp

10Y CAGR-12.9pp

FTAI Aviation Ltd's net profit margin was 0.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 20.3 percentage points from the prior year.

Return on Equity

10.7%

YoY-128.4pp

5Y CAGR-6.0pp

10Y CAGR+9.6pp

FTAI Aviation Ltd's ROE was 10.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 128.4 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$9.2M

YoY+50.0%

5Y CAGR-51.1%

10Y CAGR-15.5%

FTAI Aviation Ltd invested $9.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 50.0% from the prior year.

FTAI Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.7B+48.2%	$1.2B+65.3%	$708.4M+111.1%	$335.6M+12.6%	$297.9M-48.5%	$578.8M
Cost of Revenue	$825.9M+64.5%	$502.1M+102.2%	$248.4M+1636.0%	$14.3M	$0	N/A
Gross Profit	$909.0M+35.9%	$668.8M+45.4%	$460.0M+43.2%	$321.3M+7.8%	$297.9M	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14.3M+4.1%	$13.7M-3.3%	$14.2M+5.3%	$13.4M-4.7%	$14.1M-16.6%	$16.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$221.7M+37.2%	$161.6M-4.5%	$169.2M+9.1%	$155.0M+77.3%	$87.4M-8.5%	$95.6M
Income Tax	$5.5M+109.2%	-$59.8M-1228.3%	$5.3M+69.5%	$3.1M+172.0%	-$4.3M-124.4%	$17.8M
Net Income	$8.7M-96.4%	$243.8M+215.0%	-$212.0M-62.2%	-$130.7M-24.4%	-$105.0M-147.0%	$223.3M
EPS (Diluted)	$-0.32-115.2%	$2.11+251.8%	$-1.39-85.3%	$-0.75-13.6%	$-0.66-137.9%	$1.74

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$667.1M-1.4%	$676.2M+34.7%	$502.1M+0.7%	$498.8M+12.4%	$443.6M+35.8%	$326.7M+4.5%	$312.7M+7.4%	$291.1M
Cost of Revenue	$362.9M-1.7%	$369.3M+48.5%	$248.7M-3.5%	$257.7M+25.2%	$205.9M+44.2%	$142.8M+5.6%	$135.2M+15.9%	$116.7M
Gross Profit	$304.1M-0.9%	$307.0M+21.2%	$253.4M+5.1%	$241.1M+1.4%	$237.7M+29.3%	$183.9M+3.6%	$177.5M+1.8%	$174.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.8M-25.1%	$2.4M-21.6%	$3.1M-12.6%	$3.6M+20.1%	$3.0M-19.4%	$3.7M+7.4%	$3.4M+13.8%	$3.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$60.8M-5.0%	$64.0M+3.1%	$62.0M+1.9%	$60.9M+10.3%	$55.2M+15.7%	$47.7M+9.3%	$43.7M+8.7%	$40.2M
Income Tax	$26.3M-30.5%	$37.9M+65.7%	$22.9M+307.0%	$5.6M+143.1%	-$13.0M-333.9%	$5.6M+108.3%	-$67.4M-1918.8%	$3.7M
Net Income	$117.7M-28.8%	$165.4M+61.5%	$102.4M-0.1%	$102.4M+146.6%	-$219.9M-654.9%	$39.6M-66.5%	$118.4M+186.5%	$41.3M
EPS (Diluted)	$1.10-29.9%	$1.57+80.5%	$0.870.0%	$0.87+138.5%	$-2.26-829.0%	$0.31-71.8%	$1.10+233.3%	$0.33

FTAI Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.0B+36.2%	$3.0B+22.0%	$2.4B-50.0%	$4.9B+43.6%	$3.4B+4.7%	$3.2B
Current Assets	$1.2B+82.6%	$671.4M	N/A	N/A	N/A	N/A
Cash & Equivalents	$115.1M+26.8%	$90.8M+170.4%	$33.6M-75.7%	$138.2M+13.6%	$121.7M-46.3%	$226.5M
Inventory	$551.2M+74.1%	$316.6M+93.5%	$163.7M+63.2%	$100.3M	N/A	N/A
Accounts Receivable	$150.8M+31.0%	$115.2M+15.8%	$99.4M-20.4%	$124.9M+36.2%	$91.7M+85.3%	$49.5M
Goodwill	$61.1M+1219.0%	$4.6M	$0-100.0%	$257.1M+109.5%	$122.7M+0.1%	$122.6M
Total Liabilities	$4.0B+41.9%	$2.8B+15.7%	$2.4B-35.6%	$3.7B+63.4%	$2.3B+20.6%	$1.9B
Current Liabilities	$347.2M+91.0%	$181.8M	N/A	N/A	N/A	N/A
Long-Term Debt	$3.4B+36.7%	$2.5B+15.7%	$2.2B-13.0%	$2.5B+31.3%	$1.9B+34.1%	$1.4B
Total Equity	$81.4M-53.6%	$175.3M+803.8%	$19.4M-98.3%	$1.1B+2.3%	$1.1B-17.9%	$1.3B
Retained Earnings	-$73.1M+10.6%	-$81.8M+74.9%	-$325.6M-145.9%	-$132.4M-370.2%	-$28.2M-114.8%	$190.5M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$4.2B+3.4%	$4.1B-3.9%	$4.3B+5.7%	$4.0B+17.1%	$3.4B+8.6%	$3.2B+7.1%	$3.0B+12.6%	$2.6B
Current Assets	$2.0B+15.7%	$1.8B-5.9%	$1.9B+52.5%	$1.2B	N/A	N/A	$671.4M	N/A
Cash & Equivalents	$509.9M+68.9%	$301.9M+169.2%	$112.1M-2.6%	$115.1M-32.1%	$169.5M+159.9%	$65.2M-28.1%	$90.8M+71.6%	$52.9M
Inventory	$897.2M+19.2%	$752.9M+16.7%	$645.2M+17.1%	$551.2M+47.7%	$373.3M+8.1%	$345.5M+9.1%	$316.6M+15.2%	$274.8M
Accounts Receivable	$214.9M-10.3%	$239.5M+7.2%	$223.5M+48.2%	$150.8M-2.1%	$154.1M+12.1%	$137.4M+19.3%	$115.2M	N/A
Goodwill	$83.0M+9.8%	$75.6M+23.8%	$61.1M0.0%	$61.1M+1219.0%	$4.6M0.0%	$4.6M0.0%	$4.6M	N/A
Total Liabilities	$4.0B+1.3%	$3.9B-7.2%	$4.2B+7.2%	$4.0B+17.1%	$3.4B+12.7%	$3.0B+7.5%	$2.8B+9.9%	$2.5B
Current Liabilities	$348.2M-0.8%	$350.9M-25.9%	$473.8M+36.4%	$347.2M	N/A	N/A	$181.8M	N/A
Long-Term Debt	$3.4B+0.1%	$3.4B-5.4%	$3.6B+5.9%	$3.4B+11.8%	$3.1B+14.2%	$2.7B+7.0%	$2.5B+10.4%	$2.3B
Total Equity	$252.5M+53.1%	$164.9M+482.2%	$28.3M-65.2%	$81.4M+17.0%	$69.6M-60.7%	$177.1M+1.0%	$175.3M+84.5%	$95.1M
Retained Earnings	$277.9M+42.8%	$194.7M+564.8%	$29.3M+140.1%	-$73.1M+72.1%	-$262.0M-521.5%	-$42.2M+48.4%	-$81.8M+59.1%	-$200.1M

FTAI Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$188.0M-245.7%	$129.0M+724.4%	-$20.7M+6.3%	-$22.0M-134.9%	$63.1M-58.2%	$151.0M
Capital Expenditures	$9.2M+50.0%	$6.1M-95.7%	$144.2M-8.3%	$157.3M-40.6%	$264.8M-20.0%	$331.2M
Free Cash Flow	-$197.2M-260.5%	$122.8M+174.5%	-$164.9M+8.1%	-$179.4M+11.1%	-$201.7M-12.0%	-$180.1M
Investing Cash Flow	-$469.5M-25.8%	-$373.3M+9.2%	-$411.3M+68.0%	-$1.3B-152.8%	-$509.1M-2.8%	-$495.2M
Financing Cash Flow	$681.8M+141.6%	$282.2M+528.3%	$44.9M-97.2%	$1.6B+335.1%	$364.9M-21.7%	$465.9M
Dividends Paid	$121.6M+1.4%	$119.8M-6.7%	$128.5M+8.9%	$118.0M+3.9%	$113.6M0.0%	$113.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$4.6M+104.2%	-$110.3M-324.9%	-$26.0M+37.9%	-$41.8M+77.7%	-$187.3M-54187.2%	-$345K-102.8%	$12.2M-75.3%	$49.5M
Capital Expenditures	$6.4M-7.3%	$6.9M+66.7%	$4.2M-33.5%	$6.3M+439.4%	$1.2M-11.7%	$1.3M-41.5%	$2.2M+39.4%	$1.6M
Free Cash Flow	-$1.8M+98.5%	-$117.2M-289.2%	-$30.1M+37.3%	-$48.1M+74.5%	-$188.4M-11273.0%	-$1.7M-116.6%	$10.0M-79.2%	$47.9M
Investing Cash Flow	$226.5M-56.8%	$523.8M+1995.9%	-$27.6M-3.2%	-$26.8M+46.6%	-$50.2M+70.4%	-$169.2M+7.2%	-$182.3M-104.2%	-$89.2M
Financing Cash Flow	-$23.1M+89.7%	-$223.7M-542.0%	$50.6M-29.5%	$71.8M-79.0%	$341.7M+137.3%	$144.0M-30.8%	$208.1M+191.1%	$71.5M
Dividends Paid	$30.8M0.0%	$30.8M0.0%	$30.8M0.0%	$30.8M+2.3%	$30.1M0.0%	$30.1M0.0%	$30.1M+0.5%	$29.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FTAI Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	52.4%-4.7pp	57.1%-7.8pp	64.9%-30.8pp	95.7%-4.3pp	100.0%	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	0.5%-20.3pp	20.8%+50.8pp	-29.9%+9.0pp	-39.0%-3.7pp	-35.3%-73.8pp	38.6%
Return on Equity	10.7%-128.4pp	139.1%	N/A	N/A	N/A	16.7%
Return on Assets	0.2%-8.0pp	8.2%+16.9pp	-8.7%-6.0pp	-2.7%+0.4pp	-3.1%-10.0pp	6.9%
Current Ratio	3.53-0.2	3.69	N/A	N/A	N/A	N/A
Debt-to-Equity	42.28+27.9	14.36-97.8	112.14+109.9	2.23+0.5	1.73+0.7	1.06
FCF Margin	-11.4%-21.9pp	10.5%+33.8pp	-23.3%+30.2pp	-53.4%+14.3pp	-67.7%-36.6pp	-31.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	45.6%+0.2pp	45.4%-5.1pp	50.5%+2.1pp	48.3%-5.3pp	53.6%-2.7pp	56.3%-0.5pp	56.8%-3.1pp	59.9%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.6%-6.8pp	24.5%+4.1pp	20.4%-0.2pp	20.5%+70.1pp	-49.6%-61.7pp	12.1%-25.7pp	37.9%+23.7pp	14.2%
Return on Equity	46.6%-53.6pp	100.3%-261.1pp	361.4%+235.5pp	125.9%	N/A	22.4%-45.1pp	67.5%+24.1pp	43.5%
Return on Assets	2.8%-1.3pp	4.0%+1.6pp	2.4%-0.1pp	2.5%+8.9pp	-6.4%-7.6pp	1.3%-2.7pp	4.0%+2.4pp	1.6%
Current Ratio	5.84+0.8	5.01+1.1	3.95+0.4	3.53	N/A	N/A	3.69	N/A
Debt-to-Equity	13.65-7.2	20.88-107.7	128.56+86.3	42.28-2.0	44.24+29.0	15.21+0.9	14.36-9.6	23.98
FCF Margin	-0.3%+17.1pp	-17.3%-11.3pp	-6.0%+3.6pp	-9.6%+32.9pp	-42.5%-42.0pp	-0.5%-3.7pp	3.2%-13.3pp	16.5%

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Frequently Asked Questions

What is FTAI Aviation Ltd's annual revenue?

FTAI Aviation Ltd (FTAI) reported $1.7B in total revenue for fiscal year 2024. This represents a 48.2% 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 FTAI Aviation Ltd's revenue growing?

FTAI Aviation Ltd (FTAI) revenue grew by 48.2% year-over-year, from $1.2B to $1.7B in fiscal year 2024.

Is FTAI Aviation Ltd profitable?

Yes, FTAI Aviation Ltd (FTAI) reported a net income of $8.7M in fiscal year 2024, with a net profit margin of 0.5%.

What is FTAI Aviation Ltd's earnings per share (EPS)?

FTAI Aviation Ltd (FTAI) reported diluted earnings per share of $-0.32 for fiscal year 2024. This represents a -115.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does FTAI Aviation Ltd have?

As of fiscal year 2024, FTAI Aviation Ltd (FTAI) had $115.1M in cash and equivalents against $3.4B in long-term debt.

What is FTAI Aviation Ltd's gross margin?

FTAI Aviation Ltd (FTAI) had a gross margin of 52.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is FTAI Aviation Ltd's net profit margin?

FTAI Aviation Ltd (FTAI) had a net profit margin of 0.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does FTAI Aviation Ltd pay dividends?

Yes, FTAI Aviation Ltd (FTAI) paid $1.20 per share in dividends during fiscal year 2024.

What is FTAI Aviation Ltd's return on equity (ROE)?

FTAI Aviation Ltd (FTAI) has a return on equity of 10.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is FTAI Aviation Ltd's free cash flow?

FTAI Aviation Ltd (FTAI) generated -$197.2M in free cash flow during fiscal year 2024. This represents a -260.5% 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 FTAI Aviation Ltd's operating cash flow?

FTAI Aviation Ltd (FTAI) generated -$188.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are FTAI Aviation Ltd's total assets?

FTAI Aviation Ltd (FTAI) had $4.0B in total assets as of fiscal year 2024, including both current and long-term assets.

What are FTAI Aviation Ltd's capital expenditures?

FTAI Aviation Ltd (FTAI) invested $9.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does FTAI Aviation Ltd have outstanding?

FTAI Aviation Ltd (FTAI) had 103M shares outstanding as of fiscal year 2024.

What is FTAI Aviation Ltd's current ratio?

FTAI Aviation Ltd (FTAI) had a current ratio of 3.53 as of fiscal year 2024, which is generally considered healthy.

What is FTAI Aviation Ltd's debt-to-equity ratio?

FTAI Aviation Ltd (FTAI) had a debt-to-equity ratio of 42.28 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is FTAI Aviation Ltd's return on assets (ROA)?

FTAI Aviation Ltd (FTAI) had a return on assets of 0.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is FTAI Aviation Ltd's cash runway?

Based on fiscal year 2024 data, FTAI Aviation Ltd (FTAI) had $115.1M in cash against an annual operating cash burn of $188.0M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is FTAI Aviation Ltd's Piotroski F-Score?

FTAI Aviation Ltd (FTAI) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are FTAI Aviation Ltd's earnings high quality?

FTAI Aviation Ltd (FTAI) has an earnings quality ratio of -21.65x, considered low quality (accrual-driven). 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.

How financially healthy is FTAI Aviation Ltd?

FTAI Aviation Ltd (FTAI) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.