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FTAI Aviation Ltd.

FTAI Industrials Aerospace & Defense

FTAI Aviation Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 44.5% from fiscal 2024.

Revenue
+46.6%
EPS
+32.2%
Free cash flow
−17.3%
Total debt
+0.44%

Quarter to September 2026, against a year earlier

162.87 16.71 −9.31%
Market cap
$16.6B
P/E
32.5×
Fwd P/E
33.5×
Dividend yield
1.04%
F-score
5/9
Altman Z
4.69
Beneish M
−0.80
Dividend safety
64/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • North America
  • Europe
  • Asia
  • Africa
  • South America

Every year since 2013 →

Insider Decisions last twelve months

Bought, $m 0.50
Sold, $m 64.63
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — 1 — — — —
Sell — — 1 — — 2 — — — — — —
Insider Ownership 1.78%

Capital & Financial Ratios $m

Size
Market Cap 16,610.00
Revenue ttm 3,423.47
Net income ttm 529.16
Free cash flow ttm 445.43
Net debt Q 3,069.89
Valuation
P/E 32.46
Forward P/E 33.50
Price / sales 4.88
Forward P/S Powerpack
Price / FCF 37.54
Price / book 38.59 (above 6: high)
Financial health
Current ratio Q 3.82 (at or above 1.5: strong)
Debt / equity Q 7.97 (above 2: weak)
Interest coverage Q 3.36
Growth
Revenue growth Q +46.56% (above 0%: growing)
Operating income growth Q +9.75% (above 0%: growing)
EPS, this year +21.81% (at or above 15%: strong)
EPS, next year A +130.29% (at or above 15%: strong)
Revenue, next year A +53.03% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +56.01% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.8×, against a ten-year median of 5.9×; over the ten years it ranged from 0.9× in 2016 to 17.4× in 2021.
P/E against its own 10 years 31.82%
10-year low 10-year high
P/S against its own 10 years 41.55%
10-year low 10-year high
P/B against its own 10 years 70.96%
10-year low 10-year high
EV/Sales against its own 10 years 49.25%
10-year low 10-year high

Dividends

Yield
1.04%
Annual rate
1.70
Payout ratio
34.4%
Growth, 2017–25
+1.30%/yr
  1. 1.13 ’17
  2. 1.13 ’18 +0
  3. 1.13 ’19 +0
  4. 1.13 ’20 +0
  5. 1.13 ’21 +0
  6. 1.19 ’22 +6
  7. 1.20 ’23 +1
  8. 1.20 ’24 +0
  9. 1.25 ’25 +4
  10. 2.10 ’26e +68
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 91 115 300 386
Receivables 115 151 210 156
Inventory 317 551 1,194 1,932
Other 149 409 408 470
671 1,226 2,113 2,944
2023 2024 2025 Q'26
Payables 42 69 208 180
ST’ Debt — — — —
Other 69 181 102 366
182 347 400 771

Compound Annual Growth %

10y 5y 3y
Sales 33.78% 53.12% 52.40%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (12.64%) (21.19%) 158.25%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.31 Actual 1.43

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.22 1.08 Miss by 0.14
Q1 FY26 1.61 1.29 Miss by 0.32
Q2 FY26 1.32 1.13 Miss by 0.19
Q3 FY26 1.31 1.43 Beat by 0.12
Q4 FY26 1.75 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.29 1.13 1.45 — —
’25 0.87 1.57 1.10 1.08 4.60
’24 0.31 (2.26) 0.76 0.84 (0.32)
’23 0.22 0.46 0.33 1.09 2.11
’22 (2.30) 0.11 (0.23) 0.20 (2.22)
’21 (0.40) (0.42) 0.47 (1.09) (1.43)
’20 (0.03) (0.18) (0.30) (0.70) (1.22)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 831 953 978 — —
’25 502 676 667 662 2,507
’24 327 444 466 499 1,735
’23 293 274 291 313 1,171
’22 92 112 230 274 708
’21 77 97 94 68 336
’20 113 94 84 7 298
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (160) (105) (68) — —
’25 (26) (110) 5 (179) (311)
’24 0 (187) 41 (42) (188)
’23 39 29 50 12 129
’22 2 (50) 27 1 (21)
’21 (49) (15) 196 (154) (22)
’20 (12) 56 (16) 35 63
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 155 (433) 743 — —
’25 (63) (96) 899 (21) 715
’24 (149) (142) 64 (145) (372)
’23 55 (53) (40) (132) (170)
’22 (223) (128) 91 (160) (420)
’21 (199) (63) 164 (515) (613)
’20 (100) (152) (126) (71) (449)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 17.2% a year for ten years.

Implied
17.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 149 185 342 579 298 336 708 1,171 1,735 2,507 3,423 +36.9% 3,837 6,558 8,092 +47.8%
Gross margin, % 55.51 66.27 59.54 49.62 100.00 95.74 64.94 57.12 52.40 46.17 37.12 (9.3) pt
EBT (40) (21) (18) 152 (43) (40) (105) 184 14 607 627 n/m
EBT margin, % (27.12) (11.10) (5.16) 26.29 (14.56) (11.84) (14.87) 15.72 0.82 24.20 18.32 +51.3 pt
Net income (41) (23) (16) 208 (104) (131) (212) 244 9 501 529 n/m
Per share, $
Per share, $ Revenue 1.96 2.44 4.09 6.73 3.46 3.73 7.13 11.72 17.09 24.45 33.35 +32.3%
Earnings (0.26) 0.00 0.07 2.59 (1.22) (1.43) (2.22) 2.12 (0.32) 4.66 5.02 n/m
Cash flow 0.41 0.90 1.60 1.76 0.73 (0.25) (0.21) 1.29 (1.85) (3.03) (4.99) n/m
Capex (3.16) (6.08) (8.31) (7.57) (5.96) (6.57) (4.02) (2.99) (1.81) 10.00 9.33 n/m
Free cash flow (2.75) (5.18) (6.71) (5.81) (5.22) (6.81) (4.23) (1.70) (3.66) 6.97 4.34 n/m
Book value 15.39 13.66 12.60 15.57 12.78 12.50 0.20 1.76 0.80 3.26 4.22 (15.8%)
Shares, m 76 76 84 86 86 90 99 100 102 103 103 +3.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 201.17 6.33 0.00 0.00 0.00 21.28 0.00 42.24 32.46 27.1
P/S 5.85 6.85 2.95 2.44 5.70 6.52 2.50 3.87 8.43 8.05 4.88 5.3
P/B 0.75 1.23 0.96 1.06 1.55 1.95 92.05 25.77 180.01 60.43 38.59 36.6
EV/Sales 4.95 6.35 2.60 4.22 11.66 15.60 5.50 5.74 10.35 9.31 5.78 7.6
EV/FCF (3.53) (2.97) (1.58) (4.89) (7.74) (8.55) (9.28) (39.51) (48.25) 32.42 44.43 (9.4)
Cash, $m
Cash, $m Operating cash flow 31 68 134 151 63 (22) (21) 129 (188) (311) (512) n/m
Capex (239) (461) (695) (651) (512) (591) (399) (299) (184) 1,026 958 n/m
Free cash flow (208) (392) (562) (500) (449) (613) (420) (170) (372) 715 445 n/m
Balance, $m
Balance, $m Working capital (143) (648) (1,149) (1,274) (1,765) (2,325) (2,110) 490 879 1,713 2,173 n/m
Net debt 118 602 1,045 1,030 1,776 2,263 2,123 (91) 3,325 3,148 3,070 +44.1%
Shareholders’ equity 1,166 1,035 1,054 1,339 1,099 1,124 19 176 81 334 433 (13.0%)
Returns, %
Returns, % ROA (1.26) 0.01 0.26 7.60 (3.17) (3.13) (6.04) 7.86 (0.92) 11.35 11.33 +12.6 pt
ROIC (1.56) (1.48) (0.75) (1.39) (0.75) (1.54) 0.20 130.71 (0.05) 8.86 9.12 +10.4 pt
ROE (1.63) 0.01 0.56 18.66 (8.62) (11.60) (38.55) 217.47 (24.97) 229.92 149.53 +231.6 pt
People
People Employees — — — — — 600 40 170 580 985 — +13.2%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.56 17.71 6.89 2.99 2.55 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

FTAI Aviation is an independent aircraft-engine maintenance and leasing company headquartered in New York. Joe Adams is its chief executive. It works mainly on CFM56 and V2500 engines, which power 737NG and A320ceo aircraft. Its customers include airlines and owners of aviation assets around the world.

The company repairs and rebuilds engines at its own facilities and with joint-venture partners. Its main business is Maintenance, Repair and Exchange, or MRE: FTAI sells or leases a replacement engine or engine module while taking an engine that needs work. A module is a major section of an engine that can be repaired or replaced separately. FTAI also sells refurbished parts.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
North America 1,245 49.66%
Europe 659 26.30%
Asia 435 17.35%
Africa 92 3.68%
South America 76 3.01%
Gross margin 46.17%
Operating margin 19.68%
Pre-tax margin 24.20%

Revenue by segment since 2013

FTAI Aviation Ltd. vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RKLB Rocket Lab Corporation $27.5B — (loss-making) — (loss-making) +61.99% (above 0%: growing) n/m −99.66% (below 0%: shrinking) 36.13% (24.57%) Compare
ARXS Arxis, Inc. $20.9B — — +35.96% (above 0%: growing) — +117.42% (above 0%: growing) 54.27% 23.66% Compare
WWD Woodward, Inc. $18.1B 33.2× 32.8× +21.22% (above 0%: growing) +35.71% (above 0%: growing) −12.15% (below 0%: shrinking) 31.53% 16.66% Compare
FTAI FTAI Aviation Ltd. $16.6B 32.5× 33.5× +46.56% (above 0%: growing) +32.16% (above 0%: growing) −17.34% (below 0%: shrinking) 36.19% 22.39%
CW Curtiss-Wright Corporation $16.0B 29.0× 30.6× +9.60% (above 0%: growing) +13.47% (above 0%: growing) +2.47% (above 0%: growing) 39.01% 19.73% Compare
TXT Textron Inc. $14.4B 15.4× 15.3× +4.14% (above 0%: growing) +20.34% (above 0%: growing) +18.32% (above 0%: growing) 17.73% 7.57% Compare
EMBJ Embraer-Empresa Brasileira de Aeronautica $13.2B 30.1× — +22.87% (above 0%: growing) +176.74% (above 0%: growing) +287.11% (above 0%: growing) 19.90% 12.79% Compare
HII Huntington Ingalls Industries, Inc. $11.4B 15.6× 16.6× +10.81% (above 0%: growing) +48.88% (above 0%: growing) +3,169.23% (above 0%: growing) 13.57% 7.69% Compare
BWXT BWX Technologies, Inc. $10.5B 28.3× 29.8× +10.01% (above 0%: growing) +23.53% (above 0%: growing) +58.55% (above 0%: growing) 23.84% 16.59% Compare
Median of peers $15.2B 28.6× 29.8× +16.02% +29.62% +38.44% 27.69% 14.69%

All 94 Aerospace & Defense stocks →

From the latest earnings call

Updated

  • CEO Joe Adams said aerospace products market share rose from 12% to 14% in the quarter, as FTAI directed more module production to third-party customers.
  • CFO Nicholas McAleese said FTAI lowered its 2026 Aviation Leasing EBITDA guidance as it shifted more module production than expected to third-party customers.

Pay and ownership Proxy statement filed 15 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 5.99m 32.26m 434.00
2024 26.66m 33.39m 315.00

Ownership

Directors and executive officers, together 1.35%
Capital International Investors 13.51%
Capital World Investors 12.43%
The Vanguard Group 10.10%
FMR LLC 5.25%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

FTAI Aviation Ltd. (FTAI) Latest News

31 Oct

Impact 4 · · StockStory
Impact 3 · · Simply Wall St.

30 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Trefis

29 Oct

Impact 4 · · Moby transcript
Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · StockStory
Impact 4 · · TIKR
Impact 4 · · StockStory
Impact 4 · · GlobeNewswire earnings
Impact 3 · · Investing.com
Impact 3 · · Zacks
Impact 3 · · Associated Press

28 Oct

Impact 3 · · StockStory

27 Oct

Impact 4 · · Business Wire

26 Oct

Impact 4 · · Trefis

22 Oct

Impact 3 · · Insider Monkey

21 Oct

Impact 4 · · Insider Monkey
Impact 3 · · Investing.com

15 Oct

Impact 3 · · Simply Wall St.

14 Oct

Impact 4 · · Simply Wall St.

12 Oct

Impact 4 · · Zacks

8 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · InvestorsHub
Impact 4 · · GlobeNewswire

29 Sep

Impact 3 · · Insider Monkey

28 Sep

Impact 4 · · GlobeNewswire

25 Sep

Impact 4 · · Insider Monkey

FTAI metrics, ten years each

stockrow.com/FTAI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com