WILLIS LEASE FINANCE CORP WLFC

Industrials SIC 5080 - Wholesale-Machinery, Equipment & Supplies NAICS Wholesale Trade › Merchant Wholesalers, Durable Goods › Machinery, Equipment, and Supplies Merchant Wholesalers derived Nasdaq

Willis Lease Finance Corporation with its subsidiaries ("WLFC" or the "Company") is a leading lessor and servicer of commercial aircraft and aircraft engines. Our principal business objective is to build value for our shareholders by acquiring commercial aircraft and engines and managing those assets in order to provide a return on investment, primarily through lease rent and maintenance reserve revenues, as well as through management fees earned for managing assets owned by third parties. As of December 31, 2025, we had $2,801.7 million of equipment held in our operating lease portfolio, $139.9 million of notes receivable, $30.6 million of maintenance rights, and $16.6 million of investments in sales-type leases, which represented 363 engines, 20 aircraft, one marine vessel and other leased parts and equipment with 69 lessees in 37 countries. In addition to our owned portfolio, as of December 31, 2025, we managed 116 engines and related equipment for third parties.

Last close 38.99 2026-10-23
Market cap $824.4M 2026-06-30 share count
52-week range 36.39 - 81.54

Valuation FY2025 figures against the last close

P/S1.1x
P/E2.5x
P/FCF3.3x
EV/EBITDA16.3x
Dividend yield1.1%
Diluted EPS15.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $730.2M$569.2M$418.6M$311.9M$274.2M$288.7M$409.2M$87.0M$80.2M$57.1M
Cost of revenue ——————$62.6M$61.0M$40.8M$13.3M
Gross profit ——————$346.5M$26.0M$39.3M$43.8M
SG&A $194.7M$146.8M$115.7M$92.5M$75.3M$67.9M$86.5M$72.0M$55.7M$47.8M
Total operating expenses $625.9M$424.8M$354.3M$302.1M$265.9M$274.0M$328.9M$295.9M$246.0M$185.1M
Operating income $104.3M$144.4M$64.2M$9.9M$8.3M$14.7M$80.3M$52.5M$28.9M$22.1M
Interest expense $132.1M$104.8M$78.8M$66.7M$68.0M$63.0M$66.9M$64.2M$48.7M$41.1M
Pre-tax income $160.6M$152.6M$67.1M$9.8M$9.1M$17.3M$88.9M$56.3M$36.0M$23.9M
Income tax $46.8M$44.0M$23.3M$4.4M$5.8M$7.6M$22.0M$13.0M$26.1M$9.9M
Net income $114.0M$109.0M$44.0M$5.4M$3.4M$9.7M$66.9M$43.2M$62.2M$14.1M
EPS, basic 16.0015.976.400.350.001.0710.906.759.932.10
EPS, diluted 15.3915.346.230.330.001.0510.506.609.692.05
Shares, diluted (wtd. avg.) 7.0M6.8M6.5M6.3M6.3M6.1M6.1M6.0M6.2M6.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $16.4M$9.1M$168.0M$89.0M$95.6M$78.9M$63.7M$81.9M$47.3M$32.4M
Receivables $35.7M$38.3M$58.5M———————
Property, plant and equipment —————$31.8M$31.5M$27.7M$26.1M$16.8M
Goodwill $300.0K$1.0M————————
Other intangibles ————$1.2M$1.2M$1.3M$1.4M$1.7M$2.2M
Total assets $3.94B$3.30B$2.65B$2.58B$2.46B$2.36B$1.94B$1.93B$1.60B$1.34B
Long-term debt $2.70B$2.26B$1.80B$1.85B$1.79B$1.69B$1.25B$1.34B$1.09B$900.3M
Total liabilities $3.21B$2.68B$2.16B$2.12B$2.04B$1.95B$1.54B$1.60B$1.30B$1.12B
Retained earnings $590.8M$491.4M$397.8M$357.5M$355.4M$355.4M$349.0M$286.6M$256.3M$194.7M
Total equity $662.1M$549.3M$439.0M$404.7M$375.9M$364.0M$350.3M$286.8M$258.9M$196.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $283.2M$284.4M$229.7M$144.4M$90.7M$93.4M$230.3M$188.7M$137.1M$91.6M
Depreciation and amortisation $111.6M$92.5M$90.9M$88.3M$90.5M—————
Stock-based compensation $44.6M$29.2M$14.8M$13.6M$16.6M$11.4M$7.8M$5.4M$4.3M$3.7M
Capital expenditure $31.1M$15.6M$5.1M$6.6M$2.2M$3.0M$6.3M$3.5M$10.8M$1.0M
Investing cash flow -$256.4M-$764.9M-$92.8M-$194.4M-$148.0M-$506.7M-$147.4M-$380.5M-$325.6M-$123.2M
Financing cash flow $387.6M$445.0M-$57.9M$43.3M$74.1M$428.5M-$101.2M$226.4M$203.4M$21.2M
Dividends paid $8.7M$10.7M$0———————
Buybacks $3.8M$0$9.4M$5.2M$10.1M$1.5M$3.6M$16.1M$3.5M$29.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177136.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M 800M Revenue, FY2016: 57.1M Gross profit, FY2016: 43.8M Net income, FY2016: 14.1M Revenue, FY2017: 80.2M Gross profit, FY2017: 39.3M Net income, FY2017: 62.2M Revenue, FY2018: 87M Gross profit, FY2018: 26M Net income, FY2018: 43.2M Revenue, FY2019: 409.2M Gross profit, FY2019: 346.5M Net income, FY2019: 66.9M Revenue, FY2020: 288.7M Net income, FY2020: 9.7M Revenue, FY2021: 274.2M Net income, FY2021: 3.4M Revenue, FY2022: 311.9M Net income, FY2022: 5.4M Revenue, FY2023: 418.6M Net income, FY2023: 44M Revenue, FY2024: 569.2M Net income, FY2024: 109M Revenue, FY2025: 730.2M Net income, FY2025: 114M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $57.1M $80.2M $87.0M $409.2M $288.7M $274.2M $311.9M $418.6M $569.2M $730.2M
Gross profit $43.8M $39.3M $26.0M $346.5M — — — — — —
Net income $14.1M $62.2M $43.2M $66.9M $9.7M $3.4M $5.4M $44.0M $109.0M $114.0M

Recent filings and events

  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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