AerCap Holdings N.V. (AER) Key Metrics
AER valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $22.90B
- Enterprise value
- $63.89B
- P/E (TTM)
- 7.1 10-yr median 7.4
- Forward P/E
- 8.0
- PEG ratio
- 0.80
- Price / sales
- 2.6 10-yr median 1.9
- Price / book
- 1.2 10-yr median 0.9
- EV / EBITDA
- 11.0 10-yr median 14.0
- Dividend yield
- 1.10% $1.60 a year
- Beta
- 0.98
AER key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAER valuation Price multiples at each fiscal year-end price.
AER returns How much profit the business earns on the capital it uses.
AER per-share figures Results divided by the shares outstanding at year-end.
AER financial health Debt, liquidity and how easily interest is covered.
AER efficiency & capital use Working capital cycle and where the cash goes.
AER valuation history
AER returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AER debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AER cash returned to shareholders
AER price vs earnings per share
AER key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $25.32B | $18.61B | $16.92B | $14.03B | $9.75B | $5.82B | $8.35B | $5.89B | $8.80B | $7.89B |
| Enterprise value | $67.40B | $62.75B | $61.67B | $59.10B | $58.57B | $33.41B | $37.71B | $34.22B | $37.19B | $36.27B |
| P/E ratio | 6.8 | 8.9 | 5.4 | — | 9.7 | — | 7.3 | 5.8 | 8.2 | 7.5 |
| Price / sales | 3.1 | 2.3 | 2.2 | 2.0 | 2.1 | 1.3 | 1.7 | 1.2 | 1.7 | 1.6 |
| Price / book | 1.4 | 1.1 | 1.0 | 0.9 | 0.6 | 0.7 | 0.9 | 0.7 | 1.0 | 0.9 |
| Price / free cash flow | — | — | — | 10.8 | 5.1 | 6.2 | — | — | — | — |
| Price / operating cash flow | 4.7 | 3.4 | 3.2 | 2.7 | 2.6 | 2.7 | 2.7 | 2.1 | 2.8 | 2.3 |
| EV / sales | 8.2 | 7.8 | 8.1 | 8.4 | 12.8 | 7.4 | 7.6 | 7.1 | 7.4 | 7.2 |
| EV / EBITDA | 7.7 | 8.9 | 7.9 | 18.6 | 14.1 | 8.5 | 13.8 | 14.3 | 15.2 | 15.0 |
| EV / free cash flow | — | — | — | 45.5 | 30.8 | 35.3 | — | — | — | — |
| Earnings yield | 14.8% | 11.3% | 18.5% | −5.2% | 10.3% | −5.1% | 13.7% | 17.2% | 12.2% | 13.3% |
| Free cash flow yield | −2.7% | −6.3% | −5.7% | 9.3% | 19.5% | 16.3% | −19.4% | −52.8% | −23.7% | −5.8% |
| Dividend yield | 0.8% | 0.8% | 0.0% | 0.0% | — | — | — | — | 0.0% | 0.1% |
| Shareholder yield (dividends + buybacks) | 10.8% | 8.9% | 15.6% | 0.1% | 0.8% | 2.2% | 7.7% | 14.2% | 12.9% | 13.1% |
| Share price at fiscal year-end | $143.76 | $95.70 | $74.32 | $58.32 | $65.42 | $45.58 | $61.47 | $39.60 | $52.61 | $41.61 |
| Per share | ||||||||||
| Revenue per share | $46.50 | $41.12 | $33.30 | $29.16 | $30.80 | $35.18 | $36.33 | $32.28 | $30.11 | $26.59 |
| Earnings per share | $21.30 | $10.79 | $13.78 | −$3.02 | $6.71 | −$2.34 | $8.43 | $6.83 | $6.43 | $5.52 |
| Operating cash flow per share | $30.62 | $27.95 | $23.11 | $21.50 | $24.79 | $16.68 | $22.85 | $19.10 | $18.77 | $17.83 |
| Free cash flow per share | −$3.87 | −$6.07 | −$4.26 | $5.40 | $12.78 | $7.41 | −$11.94 | −$20.90 | −$12.46 | −$2.42 |
| Cash per share | $8.40 | $6.22 | $8.02 | $6.64 | $11.60 | $9.78 | $8.25 | $8.10 | $9.92 | $10.73 |
| Book value per share | $104.04 | $88.36 | $72.87 | $67.02 | $111.21 | $69.39 | $69.04 | $59.72 | $51.64 | $45.25 |
| Tangible book value per share | $83.65 | $76.69 | $60.16 | $52.26 | $79.98 | $55.70 | $60.82 | $50.02 | $40.54 | $31.72 |
| Dividends per share | $1.09 | $0.72 | $0.00 | $0.00 | — | — | — | — | $0.00 | $0.06 |
| Capex per share | $34.49 | $34.02 | $27.38 | $16.10 | $12.01 | $9.27 | $34.79 | $40.00 | $31.24 | $20.25 |
| Debt per share | $247.37 | $233.18 | $204.59 | $194.06 | $339.26 | $225.77 | $224.24 | $198.63 | $179.65 | $160.35 |
| Shares outstanding | 176.1M | 194.5M | 227.7M | 240.5M | 149.0M | 127.7M | 135.9M | 148.7M | 167.3M | 189.7M |
| Change in shares outstanding | −9.4% | −14.6% | −5.3% | +61.4% | +16.6% | −6.0% | −8.6% | −11.1% | −11.8% | −8.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 21.1% | 12.4% | 19.2% | −4.4% | 7.9% | −3.3% | 12.5% | 11.6% | 12.5% | 12.3% |
| Return on invested capital (ROIC) | 6.1% | 5.8% | 5.8% | 4.2% | 3.7% | 4.8% | 6.2% | 5.6% | 5.7% | 5.2% |
| Return on assets (ROA) | 5.2% | 2.9% | 4.4% | −1.0% | 1.7% | −0.7% | 2.6% | 2.4% | 2.6% | 2.4% |
| Return on tangible assets | 5.5% | 3.0% | 4.6% | −1.1% | 1.4% | −0.7% | 2.7% | 2.4% | 2.7% | 2.7% |
| Free cash flow margin | −8.3% | −14.8% | −12.8% | 18.5% | 41.5% | 21.1% | −32.9% | −64.8% | −41.4% | −9.1% |
| Income quality (OCF / net income) | 1.44 | 2.59 | 1.68 | — | 3.69 | — | 2.71 | 2.80 | 2.92 | 3.23 |
| Financial health | ||||||||||
| Total debt | $43.57B | $45.35B | $46.58B | $46.67B | $50.55B | $28.84B | $30.47B | $29.54B | $30.05B | $30.42B |
| Cash & short-term investments | $1.48B | $1.21B | $1.83B | $1.60B | $1.73B | $1.25B | $1.12B | $1.20B | $1.66B | $2.04B |
| Net debt | $42.09B | $44.14B | $44.75B | $45.07B | $48.82B | $27.59B | $29.35B | $28.33B | $28.39B | $28.38B |
| Debt / equity | 2.38 | 2.64 | 2.81 | 2.90 | 3.05 | 3.25 | 3.25 | 3.33 | 3.48 | 3.54 |
| Debt / assets | 0.61 | 0.63 | 0.65 | 0.67 | 0.68 | 0.69 | 0.70 | 0.68 | 0.71 | 0.73 |
| Net debt / EBITDA | 4.83 | 6.25 | 5.75 | 14.16 | 11.79 | 7.02 | 10.76 | 11.85 | 11.61 | 11.76 |
| Current ratio | 0.61 | 3.17 | 0.81 | 4.12 | 3.71 | 3.78 | 1.05 | 0.94 | 1.22 | 0.96 |
| Quick ratio | 0.59 | 3.12 | 0.79 | 4.08 | 3.68 | 3.78 | 1.05 | 0.93 | 1.21 | 0.94 |
| Interest coverage | 2.1 | 2.0 | 2.1 | 2.0 | 1.8 | 1.8 | 2.1 | 2.0 | 2.2 | 2.1 |
| Working capital | −$2.10B | $3.70B | −$878.6M | $4.25B | $4.65B | $2.48B | $166.7M | −$183.0M | $767.6M | −$162.5M |
| Invested capital | $60.41B | $61.33B | $61.34B | $61.19B | $65.39B | $36.46B | $38.74B | $37.21B | $37.03B | $36.96B |
| Tangible asset value | $14.73B | $14.92B | $13.70B | $12.65B | $11.99B | $7.18B | $8.27B | $7.44B | $6.78B | $6.02B |
| Net current asset value | −$50.01B | −$48.85B | −$50.89B | −$47.92B | −$51.56B | −$29.74B | −$31.13B | −$31.30B | −$29.16B | −$29.37B |
| Graham number | $223.28 | $146.47 | $150.29 | — | $129.62 | — | $114.44 | $95.80 | $86.46 | $74.95 |
| Graham net-net per share | −$286.29 | −$259.22 | −$225.79 | −$204.92 | −$356.36 | −$238.46 | −$235.79 | −$215.57 | −$182.67 | −$158.78 |
| Capital allocation | ||||||||||
| Dividends paid | $192.4M | $140.0M | $0 | $0 | — | — | — | — | $266,000 | $10.5M |
| Share buybacks (net) | $2.54B | $1.52B | $2.64B | $17.4M | $76.2M | $127.8M | $639.9M | $834.4M | $1.14B | $1.02B |
| Dividend payout ratio | 5.1% | 6.7% | 0.0% | — | — | — | — | — | 0.0% | 1.0% |
| Dividends + buybacks / free cash flow | — | — | — | 1.3% | 4.0% | 13.5% | — | — | — | — |
| Capex / revenue | 74.2% | 82.7% | 82.2% | 55.2% | 39.0% | 26.3% | 95.8% | 123.9% | 103.7% | 76.1% |
| Capex / operating cash flow | 112.6% | 121.7% | 118.5% | 74.9% | 48.5% | 55.6% | 152.3% | 209.4% | 166.4% | 113.6% |
| Capex / depreciation | 2.29 | 2.56 | 2.51 | 1.62 | 1.03 | 0.72 | 2.82 | 3.54 | 3.03 | 2.12 |
| Stock-based compensation / revenue | 2.0% | 1.4% | 1.3% | 1.5% | 2.1% | 1.5% | 1.4% | 2.0% | 2.1% | 2.0% |
| SG&A / revenue | 6.7% | 6.1% | 6.1% | 5.7% | 6.9% | 5.4% | 5.4% | 6.4% | 6.9% | 7.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 118.2 | 121.8 | 129.7 | 197.7 | 237.4 | 141.2 | 111.0 | 112.3 | 97.6 | 75.9 |
| Days of inventory on hand | 11.3 | 9.5 | 8.0 | 5.9 | 4.0 | -0.0 | 3.2 | 6.0 | 7.4 | 24.1 |
| Days payables outstanding | 153.5 | 70.9 | 70.8 | 114.4 | 150.4 | 91.5 | 97.7 | 96.1 | 95.1 | 103.5 |
| Cash conversion cycle (days) | -24.0 | 60.3 | 66.9 | 89.2 | 91.0 | 49.7 | 16.5 | 22.2 | 9.9 | -3.6 |
| Receivables turnover | 3.09 | 3.00 | 2.81 | 1.85 | 1.54 | 2.58 | 3.29 | 3.25 | 3.74 | 4.81 |
| Payables turnover | 2.38 | 5.15 | 5.15 | 3.19 | 2.43 | 3.99 | 3.74 | 3.80 | 3.84 | 3.53 |
| Inventory turnover | 32.40 | 38.40 | 45.74 | 61.53 | 90.85 | — | 115.10 | 60.78 | 49.43 | 15.17 |
| Asset turnover | 0.11 | 0.11 | 0.11 | 0.10 | 0.08 | 0.10 | 0.11 | 0.11 | 0.12 | 0.12 |
| Average receivables | $2.65B | $2.67B | $2.69B | $3.80B | $2.99B | $1.74B | $1.50B | $1.48B | $1.35B | $1.05B |
| Average payables | $1.39B | $658.9M | $628.1M | $1.01B | $847.7M | $493.6M | $525.6M | $559.5M | $589.9M | $673.1M |
| Average inventory | $101.7M | $88.3M | $70.8M | $52.2M | $22.6M | −$73,000 | $17.1M | $35.0M | $45.8M | $156.5M |
| Intangibles / total assets | 5.0% | 3.2% | 4.1% | 5.1% | 6.2% | 4.2% | 2.6% | 3.3% | 4.4% | 6.2% |
Computed from AER's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AER valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), AerCap traded at 6.8 times earnings, against a 10-year median of 7.4. Based on the latest twelve months, the trailing P/E is 7.1 and the forward P/E is 8.0. AerCap earned a return on equity of 21.1% and a return on invested capital of 6.1% in fiscal 2025. It ended the year with $43.6 billion of debt and $1.5 billion in cash and short-term investments, net debt of $42.1 billion. It returned $2.7 billion to shareholders: $192.4 million in dividends and $2.5 billion in share buybacks. The share count fell 7.2% from 189.7M to 176.1M over 9 years.
See the AER income statement, the AER chart for price history, or the AER stock overview for the latest quote and news.
AER key metrics FAQ
What is AerCap's P/E ratio?
AerCap's trailing P/E ratio is 7.1 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 8.0. At the end of fiscal 2025 it was 6.8, compared with a 10-year median of 7.4.
What is AerCap's EV/EBITDA?
AerCap's enterprise value was 7.7 times EBITDA at the end of fiscal 2025 (enterprise value $67.4 billion, EBITDA $8.7 billion); the current EV/EBITDA is 11.0.
What is AerCap's return on equity?
AerCap's return on equity (ROE) was 21.1% in fiscal 2025: net income of $3.8 billion on average shareholders' equity of $17.8 billion.
What is AerCap's ROIC?
AerCap's return on invested capital was 6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does AerCap have?
AerCap had total debt of $43.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.38 and $42.1 billion of net debt (4.83 times EBITDA).
What is AerCap's dividend yield?
AerCap's forward dividend yield is 1.10%. AerCap paid $192.4 million in dividends in fiscal 2025 ($1.09 per share), a payout ratio of 5.1%.
Does AerCap buy back its shares?
Yes. AerCap spent $2.5 billion on net share repurchases in fiscal 2025 Shares outstanding changed −9.4% over the year, to 176.1M..
What is AerCap's free cash flow yield?
AerCap generated -$681.2 million of free cash flow in fiscal 2025, a free cash flow yield of −2.7% on its market value at year-end ($25.3 billion).
What is AerCap's current ratio?
AerCap's current ratio was 0.61 at the end of fiscal 2025: current assets were 0.61 times current liabilities.