AER financial statements

The full income statement, balance sheet, and cash-flow statement for AerCap Holdings N.V. (AER), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2018-12 142.7M2019-12 131.6M2020-12 130.4M2021-12 245.4M2022-12 245.9M2023-12 202.5M2024-12 186.8M2025-09 153.9M2025-12 166.9M+17.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	8.52B YoY+6.5%	8.00B YoY+5.5%	7.58B YoY+8.1%	7.01B YoY+34.3%	5.22B YoY+16.3%
Lease income	7.37B YoY+5.2%	7.00B YoY+2.1%	6.86B YoY+5.0%	6.53B YoY+48.0%	4.41B YoY+2.1%
	4.44B YoY-22.7%	5.74B YoY+33.1%	4.31B YoY-46.1%	8.00B YoY+96.1%	4.08B YoY-12.6%
Selling, general & administrative	546M YoY+11.7%	489M YoY+5.3%	464M YoY+16.2%	400M YoY+25.7%	318M YoY+31.3%
Interest expense	—	—	1.81B YoY+13.5%	1.59B YoY+29.4%	1.23B YoY-1.4%
Equity-method income	214M YoY+34.5%	159M YoY-4.7%	167M YoY+42.3%	117M YoY+387.2%	24.1M YoY+876.1%
Gain (loss) on equity securities	13.3M YoY+153.6%	5.24M YoY+124.4%	2.33M YoY+113.2%	-17.7M YoY-868.2%	2.30M YoY+101.6%
Pre-tax income	4.09B YoY+80.8%	2.26B YoY-30.8%	3.27B YoY+426.4%	-1.00B YoY-187.3%	1.15B YoY+464.9%
Income tax	555M YoY+71.5%	324M YoY+11.2%	291M YoY+277.4%	-164M YoY-201.0%	163M YoY+1043.3%
	3.75B YoY+78.7%	2.10B YoY-33.1%	3.14B YoY+531.9%	-726M YoY-172.6%	1.00B YoY+435.1%
Net income to non-controlling interest	2.00K YoY+128.6%	-7.00K YoY-100.1%	11.8M YoY+140.7%	4.88M YoY-45.3%	8.92M YoY+145.0%
	$21.30 YoY+97.4%	$10.79 YoY-21.7%	$13.78 YoY+556.3%	-$3.02 YoY-145.0%	$6.71 YoY+386.8%
EPS (basic)	$21.78 YoY+96.9%	$11.06 YoY-20.9%	$13.99 YoY+563.2%	-$3.02 YoY-144.2%	$6.83 YoY+391.9%
	172M YoY-9.3%	190M YoY-15.3%	224M YoY-6.8%	240M YoY+64.2%	146M YoY+14.6%
	176M YoY-9.4%	194M YoY-14.6%	228M YoY-5.3%	240M YoY+61.4%	149M YoY+16.6%
Dividends per share	$1.15 YoY+53.9%	$0.75	—	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	1.38B YoY+14.1%	1.21B YoY-25.7%	1.63B YoY+1.9%	1.60B YoY-7.6%	1.73B YoY+38.4%
Inventory	112M YoY+23.7%	90.9M YoY+6.1%	85.7M YoY+53.3%	55.9M YoY+15.0%	48.6M
	71.7B YoY+0.3%	71.4B YoY+0.2%	71.3B YoY+2.2%	69.7B YoY-6.5%	74.6B YoY+77.3%
Property, plant & equipment	57.8B YoY-1.3%	58.6B YoY+2.6%	57.1B YoY+3.4%	55.2B YoY-4.5%	57.8B YoY+64.5%
Operating lease right-of-use	39.4M YoY-14.3%	46.0M YoY-19.4%	57.0M YoY-30.4%	82.0M YoY-14.5%	95.8M YoY+136.0%
Deferred tax assets	173M YoY-33.8%	261M YoY-5.3%	276M YoY+31.1%	210M YoY+73.0%	122M YoY-7.6%
	53.3B YoY-1.7%	54.3B YoY-0.8%	54.7B YoY+2.2%	53.5B YoY-7.6%	57.9B YoY+74.9%
Long-term debt	43.6B YoY-3.8%	45.3B YoY-2.6%	46.5B YoY-0.1%	46.5B YoY-7.3%	50.2B YoY+74.7%
Operating lease liability (total)	49.0M YoY-12.2%	55.8M YoY-39.4%	92.1M YoY-31.9%	135M YoY-22.1%	174M YoY+251.2%
Finance lease liability (total)	126M YoY-7.5%	136M YoY-2.9%	140M YoY+2.2%	137M YoY-2.5%	141M YoY+26.9%
Deferred tax liabilities	3.17B YoY+14.4%	2.77B YoY+9.6%	2.53B YoY+15.1%	2.19B YoY+5.2%	2.09B YoY+128.3%
	18.3B YoY+6.6%	17.2B YoY+3.6%	16.6B YoY+2.9%	16.1B YoY-2.7%	16.6B YoY+86.9%
Common stock	2.27M YoY-11.4%	2.56M YoY-4.4%	2.68M YoY-11.5%	3.02M YoY+0.0%	3.02M YoY+75.7%
Additional paid-in capital	3.52B YoY-39.4%	5.81B YoY-11.9%	6.59B YoY-23.2%	8.59B YoY+0.7%	8.52B YoY+310.1%
Retained earnings	16.3B YoY+27.9%	12.8B YoY+18.1%	10.8B YoY+40.8%	7.67B YoY-8.7%	8.41B YoY+13.7%
Treasury stock	1.47B YoY+2.9%	1.43B YoY+74.0%	819M YoY+221.7%	255M YoY-10.9%	286M YoY-37.8%
Accumulated other comprehensive income	-50.2M YoY-217.6%	42.7M YoY+414.0%	8.30M YoY-92.3%	108M YoY+236.4%	-79.3M YoY+48.8%
Non-controlling interest	211K YoY+1.0%	209K YoY-3.2%	216K YoY-99.7%	77.5M YoY+1.2%	76.6M YoY+12.6%
Total equity incl. non-controlling	18.3B YoY+6.6%	17.2B YoY+3.6%	16.6B YoY+2.4%	16.2B YoY-2.7%	16.6B YoY+86.4%
Total liabilities & equity	71.7B YoY+0.3%	71.4B YoY+0.2%	71.3B YoY+2.2%	69.7B YoY-6.5%	74.6B YoY+77.3%
	179M YoY-12.5%	205M YoY-5.1%	216M YoY-13.9%	250M YoY+0.0%	250M YoY+80.3%
	167M YoY-10.7%	187M YoY-7.8%	202M YoY-17.7%	246M YoY+0.2%	245M YoY+88.2%
	167M YoY-10.7%	187M YoY-7.8%	202M YoY-17.7%	246M YoY+0.2%	245M YoY+88.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.39B YoY-0.8%	5.44B YoY+3.3%	5.26B YoY+1.7%	5.17B YoY+40.0%	3.69B YoY+73.4%
Depreciation & amortization	2.65B YoY+2.6%	2.58B YoY+4.0%	2.48B YoY+3.8%	2.39B YoY+37.5%	1.74B YoY+5.6%
Share-based compensation	166M YoY+49.6%	111M YoY+14.5%	97.1M YoY-5.6%	103M YoY+7.0%	96.1M YoY+38.9%
Deferred income taxes	510M YoY+92.2%	265M YoY-19.4%	329M YoY+1361.2%	22.5M YoY+230.0%	-17.3M YoY+33.1%
Other operating activities	-226M YoY-236.5%	165M YoY+2337.0%	-7.39M YoY+95.4%	-162M YoY-466.1%	44.2M YoY-82.5%
	-1.66B YoY+55.3%	-3.72B YoY-17.0%	-3.18B YoY-47.3%	-2.16B YoY+90.8%	-23.5B YoY-3193.5%
Acquisitions	0.00	0.00	0.00	0.00 YoY-100.0%	22.5B
Proceeds from sale of PP&E	2.87B YoY+7.3%	2.67B YoY+26.1%	2.12B YoY+29.7%	1.64B YoY+105.3%	797M YoY+69.0%
Other investing activities	55.4M YoY+103.2%	27.3M YoY+4.3%	26.2M YoY+215.7%	-22.6M YoY-592.3%	4.59M
	-3.65B YoY-71.3%	-2.13B YoY-6.0%	-2.01B YoY+36.4%	-3.16B YoY-115.7%	20.2B YoY+1747.2%
Long-term debt issued	5.35B YoY-30.0%	7.64B YoY+16.6%	6.55B YoY+1299.8%	468M YoY-98.2%	26.5B YoY+142.1%
Long-term debt repaid	7.08B YoY-19.5%	8.80B YoY+34.0%	6.57B YoY+55.3%	4.23B YoY-29.2%	5.97B YoY-48.3%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	192M YoY+37.5%	140M	0.00	0.00	0.00
FX effect on cash	2.63M YoY+169.0%	-3.81M YoY-295.6%	1.95M YoY+125.5%	-7.63M YoY-1083.4%	776K YoY-64.4%
Interest paid	1.91B YoY+5.8%	1.81B YoY+9.4%	1.65B YoY+5.4%	1.57B YoY+41.0%	1.11B YoY-7.2%
Income taxes paid	26.1M YoY-23.3%	34.0M YoY+46.6%	23.2M YoY+4195.1%	-567K YoY-111.5%	4.93M YoY+227.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	24.0B YoY+34.2%	17.9B YoY-2.2%	18.3B YoY+27.7%	14.3B YoY-10.9%	16.1B YoY+170.1%
P/E	6.4× YoY-24.9%	8.5×	—	14.3× YoY-10.9%	16.0×
P/S	2.8× YoY+26.0%	2.2× YoY-14.2%	2.6× YoY-4.9%	2.7× YoY-10.9%	3.1× YoY+132.3%
P/B	1.3× YoY+25.9%	1.0× YoY-8.3%	1.1× YoY+31.3%	0.9× YoY-10.9%	1.0× YoY+44.5%
P/FCF	106.5× YoY+34.2%	79.4× YoY-2.2%	81.2× YoY+27.7%	63.5× YoY-10.9%	71.3× YoY+170.1%
	15.6% YoY+33.2%	11.7%	—	7.0% YoY+12.2%	6.2%
	0.94% YoY-25.5%	1.3% YoY+2.3%	1.2% YoY-21.7%	1.6% YoY+12.2%	1.4% YoY-63.0%
	0.80% YoY+2.4%	0.78%	—	—	—
Source filing	20-F	20-F	20-F/A	20-F	20-F

About this data

Source: AER's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AER filings on SEC EDGAR → Not investment advice.