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World's largest aircraft leasing company, buying planes and leasing them to airlines globally.
World's largest aircraft leasing company, buying planes and leasing them to airlines globally.
Earns monthly rent under multi-year leases to airlines and gains on selling aircraft, funded largely with borrowed money, so interest and funding costs matter. It bought GE's aircraft-leasing arm, GECAS, in 2021, which made it much the biggest lessor, and GE became a shareholder. It is Dutch-incorporated and Dublin-based.
Moat: narrow (scale, cost advantage). Massive order book and fleet scale give better aircraft pricing and diversification than smaller lessors.
Headquarters: Dublin, Ireland · Founded: 1995 · Employees: 668
Size AerCap (AER) is a United States Financials company (Finance/Rental/Leasing) with a market value of $26.2B, the 410th largest of 3,117 United States companies the cockpit tracks. Shares closed at $169.64 on 6 Nov 2026.
Performance Over six months the shares gained 13.1%, against -1.6% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 0.3% over the last twelve months (peer median +17.5%); the operating margin is 49.2% (peer median 26.2%).
Valuation It trades at 1.38× book value against a peer median of 1.81× (8th cheapest of 21).
Price implies The share price implies a return on equity of about 12.4%; AerCap delivers 17.0%, so the price asks less than the business earns today.
Credit AerCap has 23 bonds outstanding ($26.7B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 85 bp.
Short interest Short interest is 1.6% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.62B | $7.42B | $7.04B | $6.89B | $6.80B |
| Revenue growth | — | +5% | +2% | +1% | — |
| Gross profit | $4.26B | $4.12B | $3.65B | $3.66B | $3.58B |
| EBITDA | $6.33B | $6.23B | $5.74B | $5.67B | $5.57B |
| Net income | $3.13B | $3.75B | $2.10B | $3.14B | -$726M |
| Free cash flow | -$775M | -$681M | -$1.18B | -$971M | $1.30B |
| Capital expenditure | $6.65B | $6.07B | $6.62B | $6.23B | $3.87B |
| Total debt | $43.3B | $43.6B | $45.4B | $46.6B | $46.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| AerCap AER | $26.2B | +13% | 0% | 17% | 1.38× | 12.4% |
| BOC Aviation 2588.HK | $7.09B | -3% | -2% | 12% | 1.01× | 6.2% |
| GE Aerospace GE | $334B | +9% | +20% | 51% | 19.06× | 175.9% |
| FTAI Aviation FTAI | $18.4B | -33% | +46% | 154% | 42.62× | 412.9% |
| Willis Lease Finance WLFC | $992M | -37% | +22% | 10% | 1.47× | 11.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AER | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.8% | +2.5% | 2nd highest of 21 |
| 6-month return | +13.1% | -1.6% | 3rd highest of 21 |
| Return on equity | 17.0% | 14.4% | 9th highest of 21 |
| Price / book | 1.38× | 1.81× | 8th cheapest of 21 |
| Trailing P/E | 8.7× | 14.0× | 6th cheapest of 21 |
| ROE the price implies | 12.4% | 23.1% | 5th least demanding of 21 |
| ROE delivered | 17.0% | 14.0% | 8th highest of 20 |
| Bond spread | 85 bp | 126 bp | 2nd tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| AerCap AER | United States | $26.2B | +13% | 0% | 17% | 1.38× | 12.4% | 17.0% |
| Global Payments GPN | United States | $25.8B | +41% | +7% | 2% | 1.12× | 9.8% | 2.2% |
| Shriram Finance SHRIRAMFIN.NS | India | $23.9B | -5% | +10% | 15% | 2.03× | 27.6% | 14.7% |
| Affirm AFRM | United States | $23.1B | +6% | +32% | 45% | 4.19× | 73.6% | 45.1% |
| Synchrony Financial SYF | United States | $23.0B | +1% | -2% | 20% | 1.55× | 16.7% | 19.8% |
| SOFI SOFI | United States | $21.0B | +3% | +38% | 7% | 1.86× | 27.5% | 7.4% |
| Orix 8591.T | Japan | $35.7B | +2% | +17% | 14% | 1.26× | 12.4% | 13.9% |
| Kaspi.kz Joint Stock Company Sponsored ADR RegS KSPI | United States | $17.7B | +7% | +39% | 45% | 3.15× | 13.6% | 45.4% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | India | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% | 20.6% |
| Rocket Companies RKT | United States | $42.7B | -4% | +88% | 8% | 1.76× | 26.3% | 7.9% |
| Tata Capital TATACAP.NS | India | $16.0B | +10% | +18% | 14% | 3.08× | 41.2% | 14.0% |
| One 97 Communications PAYTM.NS | India | $12.2B | +50% | +24% | 5% | 6.92× | 47.0% | 5.4% |
| Muthoot Finance MUTHOOTFIN.NS | India | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% | 31.8% |
| Mitsubishi HC Capital 8593.T | Japan | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% | 7.2% |
| Power Finance PFC.NS | India | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% | n/a |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Bajaj Finance BAJFINANCE.NS | India | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% | 19.2% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
AerCap has 23 bonds outstanding with $26.7B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.49%, a spread of 85 bp over government bonds.