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WLFC

Willis Lease Finance Corporation

WLFC

Willis Lease Finance Corporation • NASDAQ
$122.71 ▲ 1.82% (+2.19)
Market Cap $836.16 M
52w High $229.67
52w Low $114.01
Dividend Yield 1.15%
P/E 7.37
Volume 27.16K
Outstanding Shares 6.81M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $180.029M ▼ $130.185M ▲ $24.324M ▼ 13.511% ▼ $3.36 ▼ $102.696M ▼
Q2-2025 $195.502M ▲ $102.964M ▲ $60.377M ▲ 30.883% ▲ $8.68 ▲ $135.996M ▲
Q1-2025 $157.732M ▲ $88.153M ▲ $16.869M ▼ 10.695% ▼ $2.34 ▼ $83.289M ▼
Q4-2024 $152.797M ▲ $86.57M ▲ $21.061M ▼ 13.784% ▼ $2.97 ▼ $85.178M ▼
Q3-2024 $146.223M $73.606M $24.096M 16.479% $3.51 $87.169M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $170.967M ▼ $3.421B ▼ $2.708B ▼ $713.535M ▲
Q2-2025 $782.535M ▲ $3.946B ▲ $3.265B ▲ $681.198M ▲
Q1-2025 $32.356M ▲ $3.275B ▼ $2.709B ▼ $565.488M ▲
Q4-2024 $9.11M ▲ $3.297B ▲ $2.748B ▲ $549.338M ▲
Q3-2024 $5.791M $3.044B $2.526B $517.761M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $24.254M ▼ $63.882M ▼ $-105.95M ▼ $-569.5M ▼ $-611.568M ▼ $-97.859M ▼
Q2-2025 $60.377M ▲ $104.178M ▲ $-15.936M ▼ $545.2M ▲ $633.442M ▲ $-31.078M ▼
Q1-2025 $16.869M ▼ $41.013M ▼ $13.689M ▲ $-38.111M ▼ $16.591M ▼ $4.208M ▲
Q4-2024 $20.992M ▼ $67.966M ▼ $-309.949M ▼ $269.361M ▲ $27.378M ▲ $-286.953M ▼
Q3-2024 $24.096M $86.787M $-179.951M $50.375M $-42.789M $-78.367M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Maintenance Services
Maintenance Services
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Managed Services And Other Revenue
Managed Services And Other Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Spare Parts And Equipment Sales
Spare Parts And Equipment Sales
 $10.00M ▲$10.00M ▲$20.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last few years, with a particularly strong step‑up more recently, showing that demand for engine leasing and related services has recovered well from the pandemic period. Profitability has improved from almost breakeven levels to clearly positive earnings, helped by scale and better use of the asset base. Operating profits, however, did not rise as quickly as revenue in the latest year, suggesting cost pressures or mix effects are starting to bite. Overall, the income statement now reflects a mature, profitable business, but one that still has to carefully manage operating expenses as it grows.

Balance Sheet

Balance Sheet The balance sheet is clearly asset‑heavy, which is typical for an engine leasing business, and the asset base has expanded over time as the company has invested in more engines and related assets. Debt has risen alongside assets and now represents a large share of the capital structure, so the business carries meaningful financial leverage. Equity has been growing, which signals retained profits and some strengthening of the capital base, but not enough to offset the increase in borrowing. Cash balances remain quite thin relative to total debt and assets, so liquidity management and access to funding lines are important ongoing considerations.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has been consistently positive and has improved over time, which is a healthy sign for the underlying business model. Free cash flow, however, has been volatile and was sharply negative in the most recent year, driven by very heavy investment spending on new assets and projects. This pattern suggests the company is in a reinvestment phase, using operating cash and additional financing to expand its engine portfolio and pursue new initiatives. The trade‑off is that growth opportunities are being funded at the cost of near‑term free cash flow, increasing reliance on external capital and adding execution risk if returns on these investments disappoint.

Competitive Edge

Competitive Edge Willis Lease Finance occupies a focused niche in aircraft engine leasing rather than broad aircraft leasing, which allows it to build deep expertise and tailored solutions for airlines. Its scale in engines, long operating history, and reputation for reliability create a meaningful barrier for smaller or newer entrants. The integrated “One Willis” model—combining leasing, trading, maintenance, asset management, and end‑of‑life solutions—adds switching costs and convenience for customers, reinforcing relationships over time. At the same time, the company still operates in a cyclical, capital‑intensive aviation market with large, well‑funded competitors, so maintaining utilization and pricing power through downturns remains a central risk.

Innovation and R&D

Innovation and R&D Innovation here is less about lab‑style R&D and more about creative service design and strategic technology choices. Programs like ConstantAccess and ConstantThrust, along with flexible credit‑style leases, offer airlines operational certainty and risk‑sharing that traditional lessors often do not provide. The portfolio tilt toward newer, more fuel‑efficient engines positions the company well as airlines seek better economics and lower emissions. The planned sustainable aviation fuel project in the UK is a bold strategic move into an adjacent, green‑focused business line; if executed well it could diversify revenue and enhance the brand, but it also introduces significant project, regulatory, and funding complexity over several years.

Summary

Willis Lease Finance has transitioned from a low‑profit, recovery phase into a period of solid growth and healthier earnings, benefiting from a specialized position in engine leasing and value‑added services. Its strategy of deep integration with airline customers and investment in modern engines has strengthened its competitive footing, but it comes with a heavy, debt‑funded asset base. Recent cash flow patterns show strong operating performance but substantial outlays for new assets and long‑dated projects, which boost long‑term potential while pressuring near‑term free cash and leverage. The upcoming sustainable aviation fuel initiative could be transformative if successful, adding a sustainability angle to the story, yet it increases execution risk and dependence on stable financing. Overall, the company reflects a focused, capital‑intensive growth model: improving fundamentals, meaningful competitive strengths, and notable financial and project risks that need ongoing monitoring.

NEWS

November 4, 2025 · 6:31 AM UTC

Willis Lease Finance Corporation Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 7:25 AM UTC

Willis Lease Finance Corporation Announces New Revolving Credit Facility for Joint Venture, Willis Mitsui & Co. Engine Support Limited

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October 21, 2025 · 11:57 AM UTC

Willis Lease Finance Corporation Leases an Additional 50 Acres at Teesside International Airport

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October 13, 2025 · 5:39 PM UTC

Willis Lease Finance Corporation Opens Two State of the Art, Narrowbody Hangars in Teesside

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September 30, 2025 · 7:00 AM UTC

Willis Lease Finance Corporation Welcomes Pascal Picano as SVP, Aircraft Leasing & Trading

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