AerCap
AER · NYSEServices-Equipment Rental & Leasing, NEC · Fiscal year ends Dec 31
AerCap reported revenue of $8.5B in the fiscal year ended Dec 2025, up 6.5% from the year before. Net income was $3.8B. Net debt was $42.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $16M | $7B | $7.6B | $8B | $8.5B |
| Selling, general & admin | $318M | $400M | $464M | $489M | $546M |
| Interest expense | $1.2B | $1.6B | $1.8B | – | – |
| Pre-tax income | $1.1B | −$1B | $3.3B | $2.3B | $4.1B |
| Income tax | $163M | −$164M | $291M | $324M | $555M |
| Net income | $1B | −$726M | $3.1B | $2.1B | $3.8B |
| Diluted EPS | 6.71 | −3.02 | 13.78 | 10.79 | 21.30 |
| Diluted shares | 149M | 240M | 228M | 194M | 176M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.7B | $1.6B | $1.6B | $1.2B | $1.4B |
| Inventory | $49M | $56M | $86M | $91M | $112M |
| Net PP&E | $57.8B | $55.2B | $57.1B | $58.6B | $57.8B |
| Total assets | $74.6B | $69.7B | $71.3B | $71.4B | $71.7B |
| Deferred revenue | – | $548M | $828M | $830M | $841M |
| Long-term debt | $50.2B | $46.5B | $46.5B | $45.3B | $43.6B |
| Total liabilities | $57.9B | $53.5B | $54.7B | $54.3B | $53.3B |
| Shareholders' equity | $16.6B | $16.1B | $16.6B | $17.2B | $18.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $3.7B | $5.2B | $5.3B | $5.4B | $5.4B |
| Depreciation & amortisation | $1.7B | $2.4B | $2.5B | $2.6B | $2.6B |
| Stock-based compensation | $96M | $103M | $97M | $111M | $166M |
| Acquisitions | $22.5B | $0 | $0 | – | – |
| Dividends paid | – | $0 | $0 | $140M | $192M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 44501.3% | 8.1% | 5.5% | 6.5% |
| EPS growth (YoY) | – | −145.0% | – | −21.7% | 97.4% |
| Net margin | 6362.5% | −10.4% | 41.4% | 26.2% | 44.0% |
| Return on equityBlank when equity is negative | 6.0% | −4.5% | 18.9% | 12.2% | 20.5% |
| Cash conversion (CFO ÷ net income) | 3.69x | −7.12x | 1.68x | 2.59x | 1.44x |
| Debt ÷ equity | 3.03x | 2.89x | 2.80x | 2.64x | 2.38x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $48.5B | $44.9B | $44.9B | $44.1B | $42.2B |
Recent filings
More in Services-Equipment Rental & Leasing, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.