What are the investment strengths of AerCap Holdings NV (AER)?

Trading at 1.4x tangible book (16.3B) with 45% net margins and 22% ROE - aircraft values underappreciated as supply constrained 5.5B operating cash flow TTM funds fleet growth while 968M buybacks shrink equity base - capital allocation optionality

What are the investment risks for AerCap Holdings NV (AER)?

44B total debt at 2.4x equity creates refinancing risk if rates stay elevated - 2.1B net paydown may not be sustainable Negative FCF of -163M TTM despite strong earnings - 5.6B capex for fleet growth consumes all cash generation

AerCap Holdings NV

AER

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AerCap Holdings NV AI Insights

Informational only. Not investment advice.

As of 2025-12-24

Snapshot

Net margin 45.4% TTM vs industry median 16.8% - 2.7x advantage from aircraft lessor economics with minimal operating costs[Net Margin TTM]
Gross profit 1Y growth 111% vs industry median -1.3% - massive outperformance signals fleet utilization inflection[Gross Profit 1Y Growth]
P/E 10.6x vs industry median 18x at 0.59x P/B discount to book - market pricing in rate/residual risk[P/E Ratio]

Watch Triggers

Net Margin TTM: Falls below 35% — Would signal lease rate compression or credit losses eroding core advantage
Debt to Equity: Rises above 2.8x — Indicates refinancing stress or aggressive fleet expansion at wrong time
Book Value Per Share: Declines QoQ — Aircraft impairments would invalidate asset-based valuation thesis

Bull Case

Trading at 1.4x tangible book (16.3B) with 45% net margins and 22% ROE - aircraft values underappreciated as supply constrained

P/B RatioNet Margin TTMROE TTM

5.5B operating cash flow TTM funds fleet growth while 968M buybacks shrink equity base - capital allocation optionality

Cash Flow TTMCommon Stock Payments

Bear Case

44B total debt at 2.4x equity creates refinancing risk if rates stay elevated - 2.1B net paydown may not be sustainable

Total DebtDebt to Equity

Negative FCF of -163M TTM despite strong earnings - 5.6B capex for fleet growth consumes all cash generation

Free Cash Flow TTMCapital Expenditure TTM

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

EPS to compound 15-20% annually as debt paydown accelerates and buybacks shrink share count

1-3yhigh

Net debt reduction of 2.1B TTM reduces interest burden
968M buybacks TTM at 0.59x book is highly accretive
5Y EPS CAGR of 30% shows execution track record

EPS TTM 13.72 with 5Y growth 30%Debt/equity 2.43x declining from paydownsBook value 104.27 vs share price ~145

Valuation Context

Caveats

Public Strategies Rankings

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AER Fundamentals

Real Estate and Rental and Leasing → Rental and Leasing Services

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$23.37B		—
Enterprise Value	$65.6B		—
P/E Ratio	6.5		—
Total Revenue - TTM	$8.52B	+6.5%	—
Earnings Per Share (diluted) - TTM	$21.30	+41.8%	—
Operating Margin - TTM	31.6%	+5.0%	—
Net Margin - TTM	44.0%	+17.8%	—
Free Cash Flow - TTM	$-681.17M		—
Return on Common Equity - TTM	21.1%	+8.7%	—
Beta 5Y (Monthly)	unknown		—

AER Dividend History

8 dividends

2026

$0.4000

02/25/26$0.4000

2025

$1.0800

11/12/25$0.2700

08/13/25$0.2700

05/14/25$0.2700

03/12/25$0.2700

2024

$0.7500

11/13/24$0.2500

08/14/24$0.2500

05/21/24$0.2500

AER Stock Splits

No stock splits

AER SEC Filings

Filing Date	Report Date	Report Type	Filing Link
02/12/26	12/31/25	20-F	0001628280-26-007513
10/29/25	09/30/25	6-K	0001628280-25-047012
07/30/25	06/30/25	6-K	0001378789-25-000017
04/30/25	03/31/25	6-K	0001378789-25-000012
02/26/25	12/31/24	Unknown	0001378789-25-000007
10/30/24	09/30/24	6-K	0001378789-24-000035
08/01/24	06/30/24	6-K	0001378789-24-000022
05/01/24	03/31/24	6-K	0001378789-24-000015
02/23/24	12/31/23	20-F	0001378789-24-000010
10/27/23	09/30/23	6-K	0001378789-23-000022
07/31/23	06/30/23	6-K	0001378789-23-000018
05/02/23	03/31/23	6-K	0001378789-23-000011
03/02/23	12/31/22	20-F	0001378789-23-000006
11/03/22	09/30/22	6-K	0001378789-22-000022
08/11/22	06/30/22	6-K	0001378789-22-000018
05/17/22	03/31/22	6-K	0001378789-22-000013
03/30/22	12/31/21	20-F	0001378789-22-000006
11/10/21	09/30/21	6-K	0001378789-21-000021
07/29/21	06/30/21	6-K	0001378789-21-000017
04/28/21	03/31/21	6-K	0001378789-21-000011
03/02/21	12/31/20	20-F	0001378789-21-000007
11/10/20	09/30/20	6-K	0001378789-20-000018
07/29/20	06/30/20	6-K	0001378789-20-000014
05/05/20	03/31/20	6-K	0001378789-20-000008
03/05/20	12/31/19	20-F	0001378789-20-000004
11/08/19	09/30/19	6-K	0001378789-19-000021
07/30/19	06/30/19	6-K	0001378789-19-000015
05/01/19	03/31/19	6-K	0001378789-19-000013
03/08/19	12/31/18	20-F	0001378789-19-000009
10/30/18	09/30/18	6-K	0001378789-18-000013
07/30/18	06/30/18	6-K	0001378789-18-000008
05/03/18	03/31/18	6-K	0000950157-18-000501
03/09/18	12/31/17	20-F	0001047469-18-001434
11/02/17	09/30/17	6-K	0001104659-17-065429
08/03/17	06/30/17	6-K	0001104659-17-049159
05/09/17	03/31/17	6-K	0001104659-17-031021
03/20/17	12/31/16	20-F	0001047469-17-001782
11/08/16	09/30/16	6-K	0001104659-16-155420
08/10/16	06/30/16	6-K	0001104659-16-138461
05/13/16	03/31/16	6-K	0001104659-16-120732
03/23/16	12/31/15	20-F	0001047469-16-011490
11/13/15	09/30/15	6-K	0001104659-15-078662
08/18/15	06/30/15	6-K	0001104659-15-060534
05/20/15	03/31/15	6-K	0001104659-15-039586
03/30/15	12/31/14	20-F	0001047469-15-002957
11/20/14	09/30/14	6-K	0001104659-14-082270
08/28/14	06/30/14	6-K	0001104659-14-063612
05/06/14	03/31/14	6-K	0001104659-14-034885
03/18/14	12/31/13	20-F	0001047469-14-002538
11/04/13	09/30/13	6-K	0001104659-13-080281
08/06/13	06/30/13	6-K	0001104659-13-060192
05/07/13	03/31/13	6-K	0001104659-13-037888
03/13/13	12/31/12	20-F	0001047469-13-002643
11/07/12	09/30/12	6-K	0001104659-12-075076
08/07/12	06/30/12	6-K	0001104659-12-054902
05/08/12	03/31/12	6-K	0001104659-12-034244
03/23/12	12/31/11	20-F	0001047469-12-003226
11/29/11	09/30/11	6-K	0001104659-11-066681
09/02/11	06/30/11	6-K	0001104659-11-050078
05/31/11	03/31/11	6-K	0001104659-11-032337
03/23/11	12/31/10	20-F	0001047469-11-002538
12/02/10	09/30/10	6-K	0001104659-10-060876
09/01/10	06/30/10	6-K	0001104659-10-046877
05/07/10	03/31/10	6-K	0001104659-10-026712
03/16/10	12/31/09	20-F	0001047469-10-002230
12/10/09	09/30/09	6-K	0001104659-09-069321
08/06/09	06/30/09	6-K	0001104659-09-047636
06/08/09	03/31/09	6-K	0001104659-09-037134
04/01/09	12/31/08	20-F	0001047469-09-003585
09/30/08	09/30/08	6-K	0001104659-08-075534
06/30/08	06/30/08	6-K	0001104659-08-043078
03/31/08	03/30/08	Unknown	--
03/21/08	12/31/07	20-F	0001047469-08-003195
09/30/07	09/30/07	6-K	0001104659-07-081291
06/30/07	06/30/07	6-K	0001104659-07-059601
03/31/07	03/30/07	Unknown	--
03/22/07	12/31/06	20-F	0001104659-07-021402
09/30/06	09/30/06	Unknown	--
06/30/06	06/30/06	Unknown	--
03/31/06	03/30/06	Unknown	--
12/31/05	12/31/05	Unknown	--
09/30/05	09/30/05	Unknown	--
06/30/05	06/30/05	Unknown	--
03/31/05	03/30/05	Unknown	--