AerCap Holdings N.V. (AER) Income Statement
AER 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAER revenue and net income
Where AER's revenue goes
2025Each bar shows an amount and its share of revenue. AER kept 45.8% of revenue as net income.
AER profit margins
AER growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +2.4% | +5.3% | +12.8% | +4.5% |
| Gross profit | +6.3% | +8.8% | +14.2% | +5.3% |
| Operating income | +3.2% | +7.7% | +13.2% | +5.3% |
| Net income | +78.7% | — | — | +12.3% |
| EPS (diluted) | +28.4% | +19.6% | +22.1% | +9.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AER quarterly EPS vs estimates
AerCap beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 28, 2026 (estimate $4.45).
AER income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.19B | $8.00B | $7.58B | $7.01B | $4.59B | $4.49B | $4.94B | $4.80B | $5.04B | $5.04B |
| Cost of revenue | $3.29B | $3.39B | $3.24B | $3.21B | $2.06B | $1.97B | $1.96B | $2.13B | $2.27B | $2.37B |
| Gross profit | $4.89B | $4.61B | $4.34B | $3.80B | $2.53B | $2.52B | $2.97B | $2.67B | $2.77B | $2.67B |
| Sales, general & admin | $545.9M | $488.9M | $464.1M | $399.5M | $317.9M | $242.2M | $267.5M | $305.2M | $348.3M | $351.0M |
| Total operating expenses | $646.8M | $488.9M | $464.1M | $399.5M | $317.9M | $242.2M | $267.5M | $305.2M | $348.3M | $351.0M |
| Operating income | $4.25B | $4.12B | $3.88B | $3.40B | $2.21B | $2.28B | $2.71B | $2.37B | $2.42B | $2.32B |
| Interest income | $1.97B | $1.99B | $1.80B | $1.61B | $1.23B | $1.39B | $1.30B | $1.17B | $1.11B | $1.09B |
| Interest expense | $1.98B | $2.07B | $1.87B | $1.68B | $1.23B | $1.25B | $1.30B | $1.17B | $1.11B | $1.09B |
| Income before taxes | $4.31B | $2.42B | $3.44B | −$885.3M | $1.17B | −$312.2M | $1.33B | $1.16B | $1.25B | $1.21B |
| Income taxes | $555.2M | $323.7M | $291.1M | −$164.1M | $162.5M | −$17.2M | $167.7M | $144.1M | $164.7M | $173.5M |
| Net income | $3.75B | $2.10B | $3.14B | −$726.0M | $1.00B | −$298.6M | $1.15B | $1.02B | $1.08B | $1.05B |
| EBITDA | $8.72B | $7.07B | $7.79B | $3.18B | $4.14B | $3.93B | $2.73B | $2.39B | $2.45B | $2.41B |
| EPS (diluted) | $15.43 | $12.02 | $10.82 | $9.01 | $8.80 | $5.68 | $7.94 | $6.74 | $6.83 | $6.92 |
| Gross margin | 59.8% | 57.6% | 57.3% | 54.2% | 55.2% | 56.2% | 60.2% | 55.7% | 55.0% | 52.9% |
| Operating margin | 51.9% | 51.5% | 51.2% | 48.5% | 48.2% | 50.8% | 54.8% | 49.4% | 48.1% | 46.0% |
| Net margin | 45.8% | 26.2% | 41.4% | −10.4% | 21.8% | −6.6% | 23.2% | 21.2% | 21.4% | 20.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.08B | $2.16B | $2.17B | $1.89B | $1.89B | $2.08B | $2.07B | $1.95B | $1.96B | $2.02B | $1.90B | $1.89B |
| Cost of revenue | $791.6M | $749.2M | $1.03B | $758.0M | $1.28B | $740.5M | $871.3M | $927.8M | $809.2M | $782.1M | $766.6M | $789.0M |
| Gross profit | $1.29B | $1.41B | $1.13B | $1.14B | $604.4M | $1.34B | $1.20B | $1.02B | $1.15B | $1.24B | $1.13B | $1.10B |
| Sales, general & admin | $129.4M | $126.3M | $133.1M | $128.9M | $170.8M | $113.1M | $123.0M | $121.3M | $125.3M | $119.3M | $121.9M | $111.9M |
| Total operating expenses | $138.1M | $132.2M | $186.6M | $128.9M | $170.8M | $113.1M | $123.0M | $121.3M | $125.3M | $119.3M | $121.9M | $111.9M |
| Operating income | $1.15B | $1.28B | $946.8M | $1.01B | $433.6M | $1.22B | $1.08B | $899.0M | $1.02B | $1.12B | $1.01B | $990.8M |
| Interest income | — | — | $435.3M | $487.6M | $541.4M | $504.3M | $503.0M | $508.0M | — | — | — | $457.6M |
| Interest expense | $468.5M | $467.1M | $474.3M | $485.9M | $520.8M | $510.9M | $579.7M | $516.3M | $443.4M | $518.5M | $497.3M | $470.4M |
| Income before taxes | $848.8M | $956.7M | $710.5M | $1.41B | $1.43B | $753.8M | $763.7M | $435.8M | $524.5M | $698.3M | $1.15B | $1.22B |
| Income taxes | $123.1M | $138.6M | $77.7M | $198.2M | $168.4M | $111.0M | $92.5M | $60.7M | $76.3M | $94.1M | $39.0M | $110.7M |
| Net income | $725.7M | $818.1M | $632.8M | $1.22B | $1.26B | $642.9M | $671.2M | $375.0M | $448.2M | $604.2M | $1.11B | $1.11B |
| EBITDA | $1.79B | $2.06B | $1.76B | $2.57B | $2.62B | $1.27B | $1.35B | $959.9M | $976.0M | $1.22B | $1.65B | $1.70B |
| EPS (diluted) | $5.14 | $5.39 | $3.95 | $4.97 | $2.83 | $3.68 | $3.31 | $2.41 | $3.01 | $3.29 | $3.11 | $2.81 |
| Gross margin | 61.9% | 65.4% | 52.3% | 60.0% | 32.0% | 64.3% | 58.0% | 52.4% | 58.7% | 61.2% | 59.6% | 58.3% |
| Operating margin | 55.2% | 59.3% | 43.7% | 53.2% | 23.0% | 58.9% | 52.0% | 46.1% | 52.3% | 55.3% | 53.2% | 52.4% |
| Net margin | 34.9% | 37.8% | 29.2% | 64.2% | 66.7% | 31.0% | 32.4% | 19.3% | 22.9% | 29.9% | 58.2% | 58.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AER's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AER financial results
In fiscal year 2025 (ended December 31, 2025), AerCap reported revenue of $8.2 billion, up 2.4% from the year before. It had net income of $3.8 billion (up 78.7%), a net profit margin of 45.8%. Diluted earnings per share came to $15.43. Over five years revenue grew at an average rate of 12.8% a year.
See the AER stock overview for the latest quote and news, or the AER chart for price history and technical indicators.
AER income statement FAQ
What is AerCap's annual revenue?
AerCap reported total revenue of $8.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 2.4% from $8.0 billion the previous year.
Is AerCap profitable?
Yes. AerCap reported net income of $3.8 billion in fiscal 2025, a net profit margin of 45.8%; its operating margin was 51.9%.
What is AerCap's gross margin?
AerCap's gross margin was 59.8% in fiscal 2025: for every $100 of revenue, AerCap kept $60 after the direct cost of its products and services.
How fast is AerCap growing?
Revenue grew 12.8% a year on average over the last five fiscal years, from $4.5 billion to $8.2 billion.
What are AerCap's earnings per share?
AerCap earned $15.43 per diluted share in fiscal 2025, compared with $12.02 a year earlier.
When will AerCap report its next earnings?
AerCap is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does AerCap's fiscal year end?
AerCap's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.