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AerCap Holdings N.V.

AerCap Holdings N.V.

NYSE•AER
CEO: Mr. Aengus Kelly A.C.A.
Sector: Industrials
Industry: Rental & Leasing Services
Listing Date: 2006-11-21
AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews. Its aircraft asset management services also include periodically inspecting the leased aircraft and engines; coordinating technical modifications to aircraft to meet new lessee requirements; conducting restructuring negotiations in connection with lease defaults; repossessing aircraft and engines; arranging and monitoring insurance coverage; registering and de-registering aircraft; arranging for aircraft and engine valuations; and providing market research services. In addition, the company provides cash management services, including treasury services, such as the financing, refinancing, hedging, and ongoing cash management of vehicles; and administrative services comprising accounting and corporate secretarial services consisting of the preparation of budgets and financial statements. Further, it offers airframe and engine parts and supply chain solutions to airlines; maintenance, repair, and overhaul service providers; and aircraft parts distributors. The company had a portfolio of owned, managed, or on order aircraft. AerCap Holdings N.V. was founded in 1995 and is headquartered in Dublin, Ireland.
Contact Information
AerCap House, 65 St. Stephen’s Green, Dublin, D02 YX20, Ireland
353-1-819-2010
www.aercap.com
Market Cap
$25.22B
P/E (TTM)
6.5
19.6
Dividend Yield
0.8%
52W High
$149.24
52W Low
$85.57
52W Range
90%
Rank48Top 64.4%
3.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.89B-2.80%
4-Quarter Trend

EPS

$7.09+254.50%
4-Quarter Trend

FCF

$504.78M-237.95%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Operating Cash Flow Rises Net cash from operations reached $5.437B in 2024, slightly up from $5.261B in 2023, supporting liquidity needs.
Total Revenue Growth Total revenues increased to $7.997B in 2024, driven by $416.2M total increase across all income sources.
Fleet Utilization High Owned aircraft utilization rate maintained 99% for 2024, demonstrating strong demand for the existing asset portfolio.
Ukraine Conflict Recoveries Recognized $195M in net recoveries related to Ukraine Conflict in 2024, primarily from insurance settlements.

Risk Factors

Substantial Debt Exposure Outstanding indebtedness totaled $45.5B as of December 31, 2024, requiring significant debt service payments.
Interest Rate Cost Increase Average cost of debt rose 14% to 4.0% in 2024, increasing borrowing costs on $11.0B floating rate debt.
Geopolitical Concentration Risk 13.3% of long-lived assets are leased to Chinese airlines, exposing the company to concentrated political risks.
Insurance Claim Uncertainty Collection timing and amount for remaining Ukraine Conflict insurance claims remain uncertain, impacting potential recoveries.

Outlook

Future Capital Commitments Commitments include purchasing 296 aircraft, 85 engines, and 11 helicopters, requiring substantial future funding access.
New Dividend Policy Adopted new quarterly dividend policy, declaring $146M in dividends during 2024, subject to future Board approval.
Fleet Modernization Progress Fleet modernization continues; 74% of the owned fleet by net book value now consists of new technology aircraft.
Financing Secured Arranged $17.5B in new financing during 2024, primarily via notes issuances and revolving credit facilities.

Peer Comparison

Revenue (TTM)

Global Payments Inc.GPN
$8.89B
-5.7%
AerCap Holdings N.V.AER
$7.93B
+1.4%
Dover CorporationDOV
$7.92B
+0.0%

Gross Margin (Latest Quarter)

Global Payments Inc.GPN
72.3%
+8.7pp
AerCap Holdings N.V.AER
60.0%
+7.6pp
RB Global, Inc.RBA
46.1%
+0.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ESLT$33.87B72.112.6%8.7%
DOV$28.34B12.630.8%22.9%
FTAI$28.08B57.5370.3%81.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-3.0%
Flat Growth
4Q Net Income CAGR
21.9%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 6, 2026
|
EPS:$3.31
|
Revenue:$2.07B
Reports
All Years
  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $8.00B+5.5%
    |
    EPS: $11.06-20.9%
    Beat
  • Form 20-F/A - FY 2023

    Period End: Dec 31, 2023|Filed: Sep 13, 2024|
    Revenue: $7.58B+8.1%
    |
    EPS: $13.99+563.2%
    Beat
  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|Refer to amended data
  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 2, 2023|
    Revenue: $7.01B+52.8%
    |
    EPS: $-3.49-144.2%
    Miss
  • Form 20-F/A - FY 2021

    Period End: Dec 31, 2021|Filed: May 17, 2022|
    Revenue: $4.59B+2.1%
    |
    EPS: $6.83+393.1%
    Miss
  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 30, 2022|Refer to amended data
  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 2, 2021|
    Revenue: $4.49B-9.0%
    |
    EPS: $-2.33-127.4%
    Miss