Willis Lease Finance Corporation (WLFC) Income Statement
WLFC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWLFC revenue and net income
Where WLFC's revenue goes
2025Each bar shows an amount and its share of revenue. WLFC kept 16.8% of revenue as net income.
WLFC profit margins
WLFC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +18.7% | +29.4% | +18.5% | +13.0% |
| Gross profit | +3.4% | +29.9% | +20.1% | +14.8% |
| Operating income | +51.0% | +180.7% | +71.5% | +32.6% |
| Net income | +4.7% | +175.5% | +63.5% | +31.5% |
| EPS (diluted) | −50.6% | +281.8% | +45.3% | +20.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WLFC quarterly EPS vs estimates
Willis Lease Finance beat the analyst EPS estimate in 5 of the last 7 quarters. Next report: November 3, 2026 (estimate $1.40).
WLFC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $675.8M | $569.2M | $418.6M | $311.9M | $274.2M | $288.7M | $409.2M | $348.3M | $274.8M | $207.3M |
| Cost of revenue | $231.7M | $139.8M | $127.3M | $109.1M | $105.4M | $111.3M | $148.9M | $137.8M | $106.9M | $79.6M |
| Gross profit | $444.1M | $429.4M | $291.3M | $202.8M | $168.8M | $177.4M | $260.3M | $210.5M | $168.0M | $127.7M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $194.7M | $146.8M | $136.0M | $92.5M | $75.3M | $67.9M | $86.5M | $72.0M | $55.7M | $47.8M |
| Total operating expenses | $226.1M | $285.0M | $227.0M | $193.0M | $160.4M | $162.7M | $180.0M | $83.2M | $65.5M | $54.8M |
| Operating income | $218.0M | $144.4M | $64.2M | $9.9M | $8.3M | $14.7M | $80.3M | $52.5M | $28.9M | $22.1M |
| Interest income | — | — | — | $7.6M | — | — | — | — | — | — |
| Interest expense | $137.9M | $104.8M | $78.8M | $66.7M | $68.0M | $63.0M | $66.9M | $64.2M | $48.7M | $41.1M |
| Income before taxes | $160.6M | $152.6M | $67.1M | $9.8M | $9.1M | $17.3M | $88.9M | $56.3M | $36.0M | $23.9M |
| Income taxes | $46.8M | $44.0M | $23.3M | $4.4M | $5.8M | $7.6M | $22.0M | $13.0M | −$26.1M | $9.9M |
| Net income | $113.8M | $108.6M | $43.8M | $5.4M | $3.4M | $9.7M | $66.9M | $43.2M | $62.2M | $14.1M |
| EBITDA | $410.0M | $352.6M | $236.8M | $164.8M | $167.6M | $174.9M | $242.0M | $197.3M | $150.1M | $131.4M |
| EPS (diluted) | $6.68 | $13.52 | $6.23 | $0.12 | −$0.03 | $1.03 | $10.50 | $6.64 | $2.70 | $2.98 |
| Gross margin | 65.7% | 75.4% | 69.6% | 65.0% | 61.5% | 61.4% | 63.6% | 60.4% | 61.1% | 61.6% |
| Operating margin | 32.3% | 25.4% | 15.3% | 3.2% | 3.0% | 5.1% | 19.6% | 15.1% | 10.5% | 10.7% |
| Net margin | 16.8% | 19.1% | 10.5% | 1.7% | 1.2% | 3.4% | 16.4% | 12.4% | 22.6% | 6.8% |
| 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 | $194.0M | $194.3M | $193.6M | $180.0M | $195.5M | $157.7M | $152.8M | $146.2M | $151.1M | $119.1M | $114.3M | $105.7M |
| Cost of revenue | $160.0M | $53.5M | $81.3M | $11.8M | $64.3M | $45.7M | $36.8M | $38.9M | $33.3M | $30.8M | $28.4M | $30.7M |
| Gross profit | $34.0M | $140.9M | $112.3M | $168.2M | $131.2M | $112.1M | $116.0M | $107.3M | $117.8M | $88.3M | $85.9M | $75.1M |
| Sales, general & admin | $55.6M | $56.6M | $47.4M | $57.5M | $50.4M | $47.7M | $42.5M | $40.0M | $39.2M | $37.8M | $44.8M | $26.5M |
| Total operating expenses | $120.0M | $66.3M | $56.7M | $130.2M | $103.0M | $88.2M | $86.6M | $73.6M | $63.8M | $61.1M | $69.1M | $55.1M |
| Operating income | $34.0M | $74.6M | $55.6M | $38.0M | $28.3M | $23.9M | $29.4M | $33.7M | $54.1M | $27.2M | $16.8M | $20.0M |
| Interest expense | $29.7M | $32.6M | $32.2M | $30.8M | $33.6M | $32.1M | $29.4M | $27.8M | $24.6M | $23.0M | $22.3M | $19.1M |
| Income before taxes | $38.1M | $36.8M | $17.8M | $43.2M | $74.3M | $25.3M | $30.4M | $34.5M | $57.9M | $29.9M | $21.0M | $20.3M |
| Income taxes | $7.8M | $11.8M | $5.7M | $18.9M | $13.9M | $8.4M | $9.3M | $10.4M | $15.3M | $9.0M | $10.0M | $5.7M |
| Net income | $30.2M | $25.1M | $12.2M | $24.3M | $60.4M | $16.9M | $21.1M | $24.1M | $42.6M | $20.9M | $11.0M | $14.6M |
| EBITDA | $29.2M | $99.6M | $80.4M | $102.7M | $136.0M | $83.3M | $85.2M | $85.9M | $104.9M | $75.4M | $66.0M | $62.5M |
| EPS (diluted) | $1.31 | $1.34 | $1.52 | $1.36 | $1.59 | $2.21 | $0.94 | $3.37 | $6.21 | $3.00 | $1.53 | $2.13 |
| Gross margin | 17.5% | 72.5% | 58.0% | 93.4% | 67.1% | 71.0% | 75.9% | 73.4% | 78.0% | 74.2% | 75.1% | 71.0% |
| Operating margin | 17.5% | 38.4% | 28.7% | 21.1% | 14.5% | 15.2% | 19.2% | 23.0% | 35.8% | 22.9% | 14.7% | 18.9% |
| Net margin | 15.5% | 12.9% | 6.3% | 13.5% | 30.9% | 10.7% | 13.8% | 16.5% | 28.2% | 17.5% | 9.6% | 13.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WLFC's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WLFC financial results
In fiscal year 2025 (ended December 31, 2025), Willis Lease Finance reported revenue of $675.8 million, up 18.7% from the year before. It had net income of $113.8 million (up 4.7%), a net profit margin of 16.8%. Diluted earnings per share came to $6.68. Over five years revenue grew at an average rate of 18.5% a year.
See the WLFC stock overview for the latest quote and news, or the WLFC chart for price history and technical indicators.
WLFC income statement FAQ
What is Willis Lease Finance's annual revenue?
Willis Lease Finance reported total revenue of $675.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 18.7% from $569.2 million the previous year.
Is Willis Lease Finance profitable?
Yes. Willis Lease Finance reported net income of $113.8 million in fiscal 2025, a net profit margin of 16.8%; its operating margin was 32.3%.
What is Willis Lease Finance's gross margin?
Willis Lease Finance's gross margin was 65.7% in fiscal 2025: for every $100 of revenue, Willis Lease Finance kept $66 after the direct cost of its products and services.
How fast is Willis Lease Finance growing?
Revenue grew 18.5% a year on average over the last five fiscal years, from $288.7 million to $675.8 million.
What are Willis Lease Finance's earnings per share?
Willis Lease Finance earned $6.68 per diluted share in fiscal 2025, compared with $13.52 a year earlier.
When will Willis Lease Finance report its next earnings?
Willis Lease Finance is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does Willis Lease Finance's fiscal year end?
Willis Lease Finance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.