FTAI financial statements

The full income statement, balance sheet, and cash-flow statement for FTAI Aviation Ltd. (FTAI), 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)

2024-06 102.2M2024-09 102.5M2024-12 102.6M2025-03 102.6M2025-06 102.6M2025-09 102.6M2025-12 102.6M2026-03 102.6M2026-06 102.7M+0.5% 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
Revenue	2.51B YoY+44.5%	1.73B YoY+48.2%	1.17B YoY+65.3%	708M YoY+111.1%	336M YoY+12.6%
Cost of revenue	1.35B YoY+63.4%	826M YoY+64.5%	502M YoY+102.2%	248M YoY+1636.0%	14.3M
	—	—	—	—	172M YoY+57.5%
Selling, general & administrative	9.48M YoY-33.5%	14.3M YoY+4.1%	13.7M YoY-3.3%	14.2M YoY+5.3%	13.4M YoY-4.7%
General & administrative	9.48M YoY-33.5%	14.3M YoY+4.1%	13.7M YoY-3.3%	14.2M YoY+5.3%	13.4M YoY-4.7%
Restructuring	0.00	—	0.00	—	—
Provision for credit losses	574K YoY-79.4%	2.78M YoY-57.7%	6.58M YoY-86.3%	48.0M YoY+270.4%	13.0M YoY+260.3%
Interest expense	248M YoY+11.7%	222M YoY+37.2%	162M YoY-4.5%	169M YoY+9.1%	155M YoY+77.3%
Net interest income	—	—	—	—	1.71M YoY+956.2%
Other non-operating income	73.6M YoY+323.8%	17.4M YoY+128.8%	7.59M YoY+3566.7%	207K YoY+142.2%	-490K YoY-621.3%
Equity-method income	-6.82M YoY-209.9%	-2.20M YoY-37.0%	-1.61M YoY-335.2%	-369K YoY+73.7%	-1.40M YoY+27.4%
Pre-tax income	607M YoY+4181.8%	14.2M YoY-92.3%	184M YoY+274.7%	-105M YoY-165.0%	-39.7M YoY+8.4%
Income tax	106M YoY+1824.9%	5.49M YoY+109.2%	-59.8M YoY-1228.3%	5.30M YoY+69.5%	3.13M YoY+172.0%
	501M YoY+5671.3%	8.68M YoY-96.4%	244M YoY+215.0%	-212M YoY-62.2%	-131M YoY-24.4%
Income from continuing operations	—	-32.1M YoY-115.1%	212M YoY+253.9%	-138M YoY-103.8%	-67.6M YoY-18.8%
Discontinued operations	—	0.00	0.00 YoY+100.0%	-101M YoY-15.4%	-87.8M YoY-35.9%
Net income to non-controlling interest	—	—	0.00	0.00	0.00
Preferred dividends	17.2M YoY-47.4%	32.8M YoY+3.0%	31.8M YoY+17.0%	27.2M YoY+9.7%	24.8M YoY+38.6%
Net income to common	477M YoY+1588.5%	-32.1M YoY-115.1%	212M YoY+196.2%	-220M YoY-70.8%	-129M YoY-22.8%
	$4.60 YoY+1537.5%	-$0.32 YoY-115.2%	$2.11	—	—
EPS (basic)	$4.66 YoY+1556.3%	-$0.32 YoY-115.1%	$2.12	—	—
	103M YoY+1.0%	102M YoY+1.6%	99.9M YoY+0.5%	99.4M YoY+10.6%	89.9M YoY+4.5%
	104M YoY+2.3%	102M YoY+1.1%	100M YoY+1.0%	99.4M YoY+10.6%	89.9M YoY+4.5%
Dividends per share	$1.35 YoY+12.5%	$1.20 YoY+0.0%	$1.20 YoY-4.8%	$1.26 YoY-4.5%	$1.32 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.11B YoY+72.3%	1.23B YoY+82.6%	671M	—	—
Cash & equivalents	300M YoY+161.0%	115M YoY+26.8%	90.8M YoY+170.4%	33.6M YoY-75.7%	138M YoY+13.6%
Accounts receivable	210M YoY+39.2%	151M YoY+31.0%	115M	—	—
Inventory	1.19B YoY+116.6%	551M YoY+74.1%	317M YoY+93.5%	164M YoY+63.2%	100M
Prepaid expenses	79.8M YoY-8.6%	87.3M YoY+1046.4%	7.62M	—	—
Other current assets	408M YoY-0.1%	409M YoY+174.7%	149M	—	—
	4.37B YoY+8.3%	4.04B YoY+36.2%	2.96B YoY+22.0%	2.43B YoY-50.0%	4.86B YoY+43.6%
Property, plant & equipment	1.67B YoY-32.9%	2.48B YoY+19.4%	2.08B YoY+20646.8%	10.0M YoY-73.8%	38.3M YoY-96.0%
Operating lease right-of-use	—	28.7M YoY+745.0%	3.40M YoY+13.3%	3.00M YoY-21.1%	3.80M YoY-93.9%
Goodwill	94.2M YoY+54.3%	61.1M YoY+1219.0%	4.63M	0.00 YoY-100.0%	257M YoY+109.5%
Intangible assets	19.9M YoY-52.8%	42.2M YoY-16.6%	50.6M YoY+20.6%	42.0M YoY+35.5%	31.0M YoY+64.8%
Long-term investments	314M	—	—	—	—
Deferred tax assets	31.9M YoY-25.6%	42.9M YoY-40.6%	72.2M	—	—
Other non-current assets	167M YoY-19.8%	208M YoY+51.3%	138M	—	—
	400M YoY+15.2%	347M YoY+91.0%	182M	—	—
Accounts payable	208M YoY+201.3%	69.1M YoY+66.2%	41.6M	—	—
Accrued liabilities	90.0M YoY-7.1%	96.9M YoY+35.9%	71.3M	—	—
Short-term & current debt	0.00	0.00	0.00	0.00 YoY-100.0%	101M YoY+302.1%
Other current liabilities	62.2M YoY-38.1%	101M YoY+756.2%	11.7M	—	—
	4.04B YoY+2.1%	3.96B YoY+41.9%	2.79B YoY+15.7%	2.41B YoY-35.6%	3.74B YoY+63.4%
Long-term debt	3.45B YoY+0.2%	3.44B YoY+36.7%	2.52B YoY+15.7%	2.18B YoY-13.0%	2.50B YoY+31.3%
Operating lease liability (total)	—	—	—	—	73.6M YoY+18.7%
Other non-current liabilities	129M YoY+32.2%	97.9M YoY+142.5%	40.4M	—	—
	334M YoY+310.7%	81.4M YoY-53.6%	175M YoY+803.8%	19.4M YoY-98.3%	1.12B YoY+2.3%
Preferred stock	68.0K YoY-41.9%	117K YoY-26.4%	159K YoY+19.5%	133K YoY+0.0%	133K YoY+46.2%
Common stock	1.03M YoY+0.0%	1.03M YoY+2.4%	1.00M YoY+0.5%	997K YoY+0.5%	992K YoY+15.9%
Additional paid-in capital	50.6M YoY-67.0%	153M YoY-40.1%	256M YoY-25.4%	343M YoY-75.7%	1.41B YoY+24.9%
Retained earnings	283M YoY+486.5%	-73.1M YoY+10.6%	-81.8M YoY+74.9%	-326M YoY-145.9%	-132M YoY-370.2%
Accumulated other comprehensive income	—	—	—	0.00 YoY+100.0%	-156M YoY-496.0%
Non-controlling interest	—	0.00 YoY-100.0%	534K	—	—
Total equity incl. non-controlling	334M YoY+310.7%	81.4M YoY-53.7%	176M YoY+806.5%	19.4M YoY-98.3%	1.12B YoY+2.3%
Total liabilities & equity	4.37B YoY+8.3%	4.04B YoY+36.2%	2.96B YoY+22.0%	2.43B YoY-50.0%	4.86B YoY+43.6%
	103M YoY+0.0%	103M YoY+2.3%	100M YoY+0.5%	99.7M YoY+0.5%	99.2M YoY+15.8%
	103M YoY+0.0%	103M YoY+2.3%	100M YoY+0.5%	99.7M YoY+0.5%	99.2M YoY+15.8%
	103M YoY+0.0%	103M YoY+2.3%	100M YoY+0.5%	99.7M YoY+0.5%	99.2M YoY+15.8%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-311M YoY-65.3%	-188M YoY-245.7%	129M YoY+724.4%	-20.7M YoY+6.3%	-22.0M YoY-134.9%
Depreciation & amortization	226M YoY+3.5%	218M YoY+28.4%	170M YoY+11.1%	153M YoY+3.5%	148M YoY+4.6%
Share-based compensation	21.7M YoY+261.9%	6.01M YoY+266.7%	1.64M YoY-37.6%	2.62M	—
Deferred income taxes	74.0M YoY+3838.0%	1.88M YoY+103.0%	-63.6M YoY-2502.8%	2.65M YoY+402.5%	527K YoY+111.1%
Change in receivables	42.4M YoY+3.0%	41.2M YoY+2.1%	40.4M YoY-38.8%	66.0M YoY-25.8%	88.9M YoY+48.8%
Change in inventory	645M YoY+212.0%	207M YoY+548.9%	31.9M YoY+37.0%	23.3M	0.00
Other operating activities	4.17M YoY+1627.5%	-273K YoY+95.9%	-6.65M YoY-558.0%	-1.01M YoY-129.5%	-440K YoY-129.3%
	723M YoY+254.1%	-469M YoY-25.8%	-373M YoY+9.2%	-411M YoY+68.0%	-1.29B YoY-152.8%
Capital expenditure	27.7M YoY+200.6%	9.22M YoY+50.0%	6.15M YoY-95.7%	144M YoY-8.3%	157M YoY-40.6%
Free cash flow	-338M YoY-71.7%	-197M YoY-260.5%	123M YoY+174.5%	-165M YoY+8.1%	-179M YoY+11.1%
Acquisitions	49.1M YoY-66.7%	148M YoY+398.2%	29.6M YoY+675.9%	3.82M YoY-99.4%	627M
Proceeds from sale of PP&E	—	0.00	0.00 YoY-100.0%	5.29M YoY+17.7%	4.49M
	-227M YoY-133.3%	682M YoY+141.6%	282M YoY+528.3%	44.9M YoY-97.2%	1.59B YoY+335.1%
Long-term debt issued	480M YoY-81.4%	2.58B YoY+171.3%	952M YoY+16.9%	814M YoY-71.9%	2.89B YoY+115.8%
Long-term debt repaid	480M YoY-71.3%	1.67B YoY+176.4%	605M YoY-47.1%	1.14B YoY-26.3%	1.55B YoY+82.3%
Common stock issued	0.00	0.00 YoY-100.0%	5.00K	0.00 YoY-100.0%	323M
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	128M YoY+5.5%	122M YoY+1.4%	120M YoY-6.7%	128M YoY+8.9%	118M YoY+3.9%
Net change in cash	185M YoY+660.9%	24.4M YoY-35.6%	37.8M YoY+109.8%	-387M YoY-238.9%	279M YoY+443.6%
Interest paid	235M YoY+5.9%	222M YoY+47.5%	151M YoY-18.6%	185M YoY+30.2%	142M YoY+98.5%
Income taxes paid	15.7M YoY+176.9%	5.66M YoY+306.0%	1.39M YoY-57.5%	3.28M YoY+715.7%	402K
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	20.2B YoY+36.7%	14.8B YoY+217.6%	4.65B YoY+173.4%	1.70B YoY-30.5%	2.45B YoY+42.8%
P/E	40.3× YoY-97.6%	1701.4× YoY+5469.7%	30.5×	—	—
P/S	8.1× YoY-5.4%	8.5× YoY+107.3%	4.1× YoY+30.6%	3.1× YoY-56.9%	7.3× YoY+26.8%
P/B	60.4× YoY-66.7%	181.5× YoY+271.0%	48.9× YoY-25.1%	65.3× YoY+2897.3%	2.2× YoY+39.7%
P/FCF	—	—	43.0×	—	—
	2.5% YoY+4122.1%	0.06% YoY-98.2%	3.3%	—	—
	—	—	2.3%	—	—
	0.69% YoY-17.7%	0.83% YoY-67.8%	2.6% YoY-64.9%	7.4% YoY+37.7%	5.3% YoY-18.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: FTAI'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 FTAI filings on SEC EDGAR → Not investment advice.