FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FTAIN SEC filings page.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) reported $2.8B in revenue over the twelve months to Mar 31, 2026, up 48.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Reported profit rebounded, but expanding inventory and cash outflows show a balance-sheet-heavy operation rather than clean earnings conversion.
In FY2025, net income of$501M coexisted with operating cash flow of-$311M , so earnings did not fund day-to-day operations. Inventory rose116.6% while free cash flow was-$338M , making the inventory build a prominent source of cash absorption alongside investment spending.
Revenue grew
Liabilities represented
Financial Health Signals
We do not publish a peer-relative financial health score for FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares used $0.62 of operating cash (-$310.7M OCF vs $501.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares generated $830.7M in revenue in Q1 2026. This represents an increase of 65.5% from the same quarter a year earlier. Against the prior quarter it is up 25.5%.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares reported $137.9M in net income in Q1 2026. This represents an increase of 34.7% from the same quarter a year earlier. Against the prior quarter it is up 23.3%.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares earned $1.29 per diluted share (EPS) in Q1 2026. This represents an increase of 48.3% from the same quarter a year earlier.
Not reported for Q1 2026.
Cash & Balance Sheet
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares recorded an outflow of $166.7M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares held $412.2M in cash against $3.5B in long-term debt as of Q1 2026.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares paid $0.45 per share in dividends in Q1 2026. This represents an increase of 50.0% from the same quarter a year earlier.
Margins & Returns
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares's gross margin was 36.9% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 13.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.4 percentage points.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares's net profit margin was 16.6% in Q1 2026, showing the share of revenue converted to profit. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares's quarterly ROE was 31.9% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is down 329.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.
Not reported for Q1 2026.
Capital Allocation
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares invested $6.6M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 59.8% from the same quarter a year earlier. Against the prior quarter it is down 34.9%.
Not reported for Q1 2026.
Not reported for Q1 2026.
FTAIN 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $830.7M+65.5% | $662.0M+32.7% | $667.1M+43.2% | $676.2M+52.4% | $502.1M+53.7% | $498.8M+59.5% | $465.8M+60.0% | $443.6M+61.7% |
| Cost of Revenue | $524.3M+110.8% | $368.8M+43.1% | $362.9M+65.3% | $369.3M+79.4% | $248.7M+74.2% | $257.7M+90.6% | $219.5M+88.1% | $205.9M+96.9% |
| Gross Profit | $306.4M+20.9% | $293.2M+21.6% | $304.1M+23.5% | $307.0M+29.1% | $253.4M+37.8% | $241.1M+35.8% | $246.3M+41.2% | $237.7M+40.0% |
| SG&A Expenses | $2.4M-22.6% | $2.1M-41.4% | $1.8M-54.8% | $2.4M-17.8% | $3.1M-15.4% | $3.6M+4.0% | $4.0M+34.2% | $3.0M-6.9% |
| Interest Expense | $61.4M-1.0% | $61.0M+0.1% | $60.8M+4.9% | $64.0M+15.9% | $62.0M+30.0% | $60.9M+39.4% | $57.9M+44.2% | $55.2M+43.4% |
| Income Tax | $31.5M+37.6% | $18.6M+230.3% | $26.3M+259.2% | $37.9Mn/m | $22.9M+310.2% | $5.6Mn/m | $7.3M+97.9% | -$13.0M-802.6% |
| Net Income | $137.9M+34.7% | $111.9M+29.0% | $117.7M+36.1% | $165.4Mn/m | $102.4M+158.4% | $86.7M-26.8% | $86.5M+109.4% | -$219.9M-501.6% |
| EPS (Basic) | $1.31+48.9% | N/A | $1.11+46.1% | $1.58n/m | $0.88+183.9% | N/A | $0.76+130.3% | -$2.26-580.9% |
| EPS (Diluted) | $1.29+48.3% | N/A | $1.10+44.7% | $1.57n/m | $0.87+180.6% | N/A | $0.76+130.3% | -$2.26-591.3% |
| Diluted Shares (Avg) | 104M+1.1% | N/A | 104M+0.6% | 103M+2.2% | 103M+2.2% | N/A | 103M+2.9% | 101M+0.5% |
Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.
FTAIN 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.5B+6.1% | $4.4B+8.3% | $4.2B+13.4% | $4.1B+18.9% | $4.3B+34.4% | $4.0B+36.2% | $3.7B+42.0% | $3.4B+36.6% |
| Current Assets | $2.6B+38.5% | $2.1B+72.3% | $2.0B | $1.8B | $1.9B | $1.2B+82.6% | N/A | N/A |
| Cash & Equivalents | $412.2M+267.6% | $300.5M+161.0% | $509.9M+355.8% | $301.9M+78.1% | $112.1M+71.9% | $115.1M+26.8% | $111.9M+111.6% | $169.5M+702.0% |
| Inventory | $1.4B+111.5% | $1.2B+116.6% | $897.2M+82.7% | $752.9M+101.7% | $645.2M+86.7% | $551.2M+74.1% | $491.0M+78.7% | $373.3M+60.9% |
| Accounts Receivable | $176.9M-20.9% | $209.9M+39.2% | $214.9M+29.2% | $239.5M+55.5% | $223.5M+62.7% | $150.8M+31.0% | $166.3M | $154.1M |
| Goodwill | $94.2M+54.3% | $94.2M+54.3% | $83.0M+163.3% | $75.6M+1533.6% | $61.1M+1219.0% | $61.1M+1219.0% | $31.5M | $4.6M |
| Total Liabilities | $4.1B-3.4% | $4.0B+2.1% | $4.0B+10.1% | $3.9B+16.5% | $4.2B+41.4% | $4.0B+41.9% | $3.6B+42.6% | $3.4B+38.8% |
| Current Liabilities | $494.3M+4.3% | $399.9M+15.2% | $348.2M | $350.9M | $473.8M | $347.2M+91.0% | N/A | N/A |
| Non-Current Liabilities | $3.6B-4.3% | $3.6B+0.8% | $3.6B | $3.6B | $3.8B | $3.6B+38.5% | N/A | N/A |
| Long-Term Debt | $3.5B-5.3% | $3.4B+0.2% | $3.4B+7.1% | $3.4B+11.9% | $3.6B+35.2% | $3.4B+36.7% | $3.2B+41.2% | $3.1B+41.6% |
| Total Equity | $431.7M+1423.6% | $334.2M+310.7% | $252.5M+113.0% | $164.9M+137.1% | $28.3M-84.0% | $81.4M-53.6% | $118.5M+24.7% | $69.6M-23.8% |
| Retained Earnings | $375.7M+1182.9% | $282.5Mn/m | $277.9Mn/m | $194.7Mn/m | $29.3Mn/m | -$73.1Mn/m | -$175.6Mn/m | -$262.0Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
FTAIN 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$160.1Mn/m | -$179.1Mn/m | $4.6M-88.9% | -$110.3Mn/m | -$26.0Mn/m | -$41.8M-442.2% | $41.5M-16.2% | -$187.3M-756.1% |
| Depreciation & Amortization | $52.3M-12.2% | $55.7M+1.9% | $55.3M-2.6% | $55.2M-2.6% | $59.6M+19.3% | $54.7M+17.6% | $56.8M+29.2% | $56.7M+47.2% |
| Stock-Based Compensation | $6.3M+29.8% | N/A | $5.7M+295.5% | $5.5M+764.4% | $4.9M+858.6% | N/A | $1.4M+180.4% | $638K+25.1% |
| Capital Expenditures | $6.6M+59.8% | $10.2M+63.2% | $6.4M+1193.0% | $6.9M+497.8% | $4.2M+216.8% | $6.3M+178.9% | $497K-69.1% | $1.2M+36.8% |
| Free Cash Flow | -$166.7Mn/m | -$189.3Mn/m | -$1.8M-104.4% | -$117.2Mn/m | -$30.1Mn/m | -$48.1M-581.8% | $41.0M-14.5% | -$188.4M-780.4% |
| Investing Cash Flow | $317.0Mn/m | $646Kn/m | $226.5Mn/m | $523.8Mn/m | -$27.6Mn/m | -$26.8Mn/m | -$223.3Mn/m | -$50.2Mn/m |
| Financing Cash Flow | -$45.2M-189.3% | -$31.0M-143.2% | -$23.1M-118.6% | -$223.7M-165.5% | $50.6M-64.9% | $71.8M-65.5% | $124.3M+73.9% | $341.7M+731.1% |
| Dividends Paid | $41.0M+33.4% | $35.9M+16.7% | $30.8M+0.4% | $30.8M+2.3% | $30.8M+2.3% | $30.8M+2.3% | $30.7M+2.5% | $30.1M+0.5% |
Not reported in any period shown, so not listed: Share Buybacks.
FTAIN 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9%-13.6pp | 44.3%-4.0pp | 45.6%-7.3pp | 45.4%-8.2pp | 50.5%-5.8pp | 48.3%-8.4pp | 52.9%-7.0pp | 53.6%-8.3pp |
| Net Margin | 16.6%-3.8pp | 16.9%-0.5pp | 17.6%-0.9pp | 24.5%+74.0pp | 20.4%+8.3pp | 17.4%-20.5pp | 18.6%+4.4pp | -49.6%-69.5pp |
| Return on Equity | 31.9%-329.4pp | 33.5%-73.1pp | 46.6%-26.3pp | 100.3%+416.3pp | 361.4%+339.0pp | 106.5%+39.0pp | 73.0%+29.5pp | -316.1%-376.0pp |
| Return on Assets | 3.0%+0.6pp | 2.6%+0.4pp | 2.8%+0.5pp | 4.0%+10.4pp | 2.4%+1.1pp | 2.1%-1.8pp | 2.3%+0.7pp | -6.4%-8.5pp |
| Current Ratio | 5.24+1.3x | 5.28+1.8x | 5.84 | 5.01 | 3.95 | 3.53-0.2x | N/A | N/A |
| Debt-to-Equity | 7.99-120.6x | 10.32-32.0x | 13.65-13.5x | 20.88-23.4x | 128.56+113.3x | 42.28+27.9x | 27.15+3.2x | 44.24+20.4x |
| Liabilities-to-Equity | 9.49-140.2x | 12.09-36.5x | 15.80-14.7x | 23.86-24.7x | 149.64+132.7x | 48.63+32.7x | 30.54+3.8x | 48.58+21.9x |
| Asset Turnover | 0.18+0.1x | 0.150.0x | 0.160.0x | 0.160.0x | 0.120.0x | 0.120.0x | 0.120.0x | 0.130.0x |
| FCF Margin | -20.1%-14.1pp | -28.6%-19.0pp | -0.3%-9.1pp | -17.3%+25.1pp | -6.0%-5.5pp | -9.6%-12.8pp | 8.8%-7.7pp | -42.5%-52.6pp |
Not reported in any period shown, so not listed: Operating Margin.
Where FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares Ranks
Frequently Asked Questions
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) reported $2.5B in total revenue for fiscal year 2025. This represents a 44.5% 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.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) revenue grew by 44.5% year-over-year, from $1.7B to $2.5B in fiscal year 2025.
Yes, FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) reported a net income of $532.9M over the trailing 12 months to March 31, 2026. In fiscal year 2025 it reported a net income of $501.1M, with a net profit margin of 20.0%.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) reported diluted earnings per share of $4.60 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
As of fiscal year 2025, FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had $300.5M in cash and equivalents against $3.4B in long-term debt.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a gross margin of 46.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a net profit margin of 20.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) paid $1.35 per share in dividends during fiscal year 2025.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) has a return on equity of 149.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) recorded an outflow of $338.5M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) recorded an outflow of $310.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) invested $27.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a current ratio of 5.28 as of fiscal year 2025, which is generally considered healthy.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a debt-to-equity ratio of 10.32 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a liabilities-to-equity ratio of 12.09 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) had a return on assets of 11.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, FTAI Aviation Ltd. 8.25% Fixed - Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (FTAIN) used $0.62 of operating cash (-$310.7M OCF vs $501.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.