AerCap Holdings N.V. (AER) Financial Ratios
24 years of historical data (2002–2025) · Industrials · Rental & Leasing Services
EV/EBITDA
↓
9.70
↓-26% vs avg
5yr avg: 13.15
30Y Low6.9·High19.2
P/FCF
↑
N/A
—
5yr avg: 7.96
30Y Low5.1·High10.8
P/B Ratio
↑
1.43
↑+44% vs avg
5yr avg: 0.99
30Y Low0.2·High2.3
ROE
↑
21.1%
↓+88% vs avg
5yr avg: 11.2%
30Y Low-290%·High37%
Debt/EBITDA
↓
6.32
↓-37% vs avg
5yr avg: 10.00
30Y Low4.8·High16.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AER Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AerCap Holdings N.V. trades at 7.0x earnings, 9% below its 5-year average of 7.7x, sitting at the 28th percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a discount of 73%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $24.8B | $25.3B | $18.6B | $16.9B | $14.0B | $9.7B | $5.8B | $8.4B | $5.9B | $8.8B | $7.9B |
| Enterprise Value | $66.9B | $67.4B | $62.8B | $61.9B | $59.1B | $58.6B | $33.4B | $37.8B | $34.2B | $35.6B | $33.6B |
| P/E Ratio → | 6.97 | 6.75 | 8.87 | 5.39 | — | 9.75 | — | 7.29 | 5.80 | 8.18 | 7.54 |
| P/S Ratio | 3.02 | 3.09 | 2.33 | 2.23 | 2.00 | 2.12 | 1.30 | 1.69 | 1.23 | 1.75 | 1.57 |
| P/B Ratio | 1.43 | 1.38 | 1.08 | 1.02 | 0.87 | 0.59 | 0.65 | 0.89 | 0.66 | 1.02 | 0.92 |
| P/FCF | — | — | — | — | 10.79 | 5.12 | 6.15 | — | — | — | — |
| P/OCF | 4.59 | 4.69 | 3.42 | 3.22 | 2.71 | 2.64 | 2.73 | 2.69 | 2.07 | 2.80 | 2.33 |
P/E links to full P/E history page with 30-year chart
AER EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
AerCap Holdings N.V.'s enterprise value stands at 9.7x EBITDA, 26% below its 5-year average of 13.1x. The Industrials sector median is 13.8x, placing the stock at a 30% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.23 | 7.85 | 8.16 | 8.43 | 12.76 | 7.44 | 7.65 | 7.12 | 7.06 | 6.66 |
| EV / EBITDA | 9.70 | 9.78 | 15.12 | 15.81 | 10.21 | 14.82 | 8.51 | 13.85 | 14.30 | 14.54 | 14.29 |
| EV / EBIT | 15.74 | 11.10 | 15.24 | 15.95 | 17.38 | 26.45 | 14.64 | 13.96 | 14.43 | 14.67 | 14.10 |
| EV / FCF | — | — | — | — | 45.48 | 30.76 | 35.30 | — | — | — | — |
AER Profitability
Margins and return-on-capital ratios measuring operating efficiency
AerCap Holdings N.V. earns an operating margin of 51.9%, significantly above the Industrials sector average of 4.9%. ROE of 21.1% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 5.2% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.8% | 59.8% | 57.6% | 57.3% | 54.2% | 55.2% | 56.2% | 60.2% | 55.7% | 55.0% | 52.9% |
| Operating Margin | 51.9% | 51.9% | 51.5% | 51.2% | 48.5% | 48.2% | 50.8% | 54.8% | 49.4% | 48.1% | 46.0% |
| Net Profit Margin | 45.8% | 45.8% | 26.2% | 41.4% | -10.4% | 21.8% | -6.6% | 23.2% | 21.2% | 21.4% | 20.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.1% | 21.1% | 12.4% | 19.1% | -4.4% | 7.8% | -3.3% | 12.5% | 11.6% | 12.5% | 12.3% |
| ROA | 5.2% | 5.2% | 2.9% | 4.4% | -1.0% | 1.7% | -0.7% | 2.6% | 2.4% | 2.6% | 2.5% |
| ROIC | 5.2% | 5.2% | 5.0% | 4.7% | 4.0% | 3.3% | 4.5% | 5.3% | 4.9% | 5.2% | 5.0% |
| ROCE | 6.2% | 6.2% | 5.9% | 5.6% | 4.8% | 3.9% | 5.4% | 6.4% | 5.7% | 5.9% | 5.6% |
AER Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
AerCap Holdings N.V. carries a Debt/EBITDA ratio of 6.3x, which is highly leveraged (98% above the sector average of 3.2x). Net debt stands at $42.1B ($43.6B total debt minus $1.5B cash). Interest coverage of 3.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.38 | 2.38 | 2.64 | 2.81 | 2.88 | 3.04 | 3.23 | 3.25 | 3.32 | 3.29 | 3.23 |
| Debt / EBITDA | 6.32 | 6.32 | 10.93 | 11.90 | 8.06 | 12.79 | 7.34 | 11.20 | 12.34 | 11.62 | 11.79 |
| Net Debt / Equity | — | 2.30 | 2.57 | 2.71 | 2.78 | 2.93 | 3.09 | 3.14 | 3.19 | 3.10 | 2.99 |
| Net Debt / EBITDA | 6.10 | 6.10 | 10.64 | 11.49 | 7.78 | 12.35 | 7.02 | 10.79 | 11.84 | 10.94 | 10.93 |
| Debt / FCF | — | — | — | — | 34.69 | 25.64 | 29.15 | — | — | — | — |
| Interest Coverage | 3.06 | 3.06 | 1.99 | 2.08 | 2.03 | 1.80 | 1.83 | 2.09 | 2.02 | 2.18 | 2.18 |
AER Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.61x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.5B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 3.73x to 0.61x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.61 | 0.61 | 3.17 | 3.73 | 4.12 | 3.71 | 3.78 | 3.66 | 3.09 | 4.18 | 3.39 |
| Quick Ratio | 0.61 | 0.61 | 3.12 | 3.68 | 4.08 | 3.68 | 3.78 | 3.66 | 3.06 | 4.14 | 3.35 |
| Cash Ratio | 0.27 | 0.27 | 0.71 | 1.00 | 1.17 | 1.01 | 1.40 | 1.27 | 1.23 | 1.63 | 1.88 |
| Asset Turnover | — | 0.11 | 0.11 | 0.11 | 0.10 | 0.06 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 |
| Inventory Turnover | — | — | 37.29 | 37.79 | 57.52 | 42.34 | — | 622.13 | 68.63 | 58.12 | 45.07 |
| Days Sales Outstanding | — | 82.73 | 157.46 | 184.52 | 182.29 | 325.61 | 152.41 | 118.60 | 106.67 | 112.35 | 82.81 |
AER Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AerCap Holdings N.V. returns 0.7% to shareholders annually primarily through dividends. The payout ratio of 5.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 14.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.8% | 0.8% | — | — | — | — | — | — | — | — |
| Payout Ratio | 5.1% | 5.1% | 6.7% | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 14.4% | 14.8% | 11.3% | 18.5% | — | 10.3% | — | 13.7% | 17.2% | 12.2% | 13.3% |
| FCF Yield | — | — | — | — | 9.3% | 19.5% | 16.3% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 8.2% | 15.6% | 0.1% | 0.8% | 2.2% | 7.7% | 14.2% | 12.9% | 12.9% |
| Total Shareholder Yield | 0.7% | 0.8% | 8.9% | 15.6% | 0.1% | 0.8% | 2.2% | 7.7% | 14.2% | 12.9% | 12.9% |
| Shares Outstanding | — | $176M | $194M | $228M | $240M | $149M | $128M | $136M | $149M | $167M | $190M |
Peer Comparison
Compare AER with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AERYou | $25B | 7.0 | 9.7 | — | 59.8% | 51.9% | 21.1% | 5.2% | 6.3 |
 AL | $7B | 7.0 | — | — | 59.4% | 50.5% | 13.6% | 4.2% | 7.2 |
 FLY | $5B | -6.7 | — | — | 15.6% | -154.3% | -141.3% | -26.2% | — |
 FTAI | $28B | 59.2 | 31.2 | — | 31.1% | 30.7% | 241.2% | 16.8% | 3.5 |
 GATX | $7B | 20.1 | 14.5 | — | 48.6% | 30.7% | 11.0% | 3.7% | 13.0 |
 WLFC | $2B | 14.7 | 13.4 | — | 65.7% | 32.3% | 17.8% | 5.3% | 8.2 |
 AVAV | $8B | 108.5 | 103.0 | — | 39.4% | 5.0% | 5.1% | 3.6% | 0.8 |
 TDG | $70B | 38.7 | 21.5 | 38.6 | 60.1% | 47.2% | — | 20.9% | 6.6 |
 HEI | $24B | 59.1 | 21.7 | 28.3 | 39.8% | 22.7% | 17.1% | 12.6% | 1.8 |
 KTOS | $11B | 438.5 | 118.4 | — | 22.1% | 2.1% | 1.3% | 1.4% | 2.1 |
 BA | $182B | 93.2 | — | — | 4.8% | -6.1% | 289.7% | -9.5% | — |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 24 years · Updated daily
Full AER Stock Analysis
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Start ComparisonAER — Frequently Asked Questions
Quick answers to the most common questions about buying AER stock.
What is AerCap Holdings N.V.'s P/E ratio?
AerCap Holdings N.V.'s current P/E ratio is 7.0x. The historical average is 8.4x. This places it at the 28th percentile of its historical range.
What is AerCap Holdings N.V.'s EV/EBITDA?
AerCap Holdings N.V.'s current EV/EBITDA is 9.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.8x.
What is AerCap Holdings N.V.'s ROE?
AerCap Holdings N.V.'s return on equity (ROE) is 21.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -4.8%.
Is AER stock overvalued?
Based on historical data, AerCap Holdings N.V. is trading at a P/E of 7.0x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is AerCap Holdings N.V.'s dividend yield?
AerCap Holdings N.V.'s current dividend yield is 0.74% with a payout ratio of 5.1%.
What are AerCap Holdings N.V.'s profit margins?
AerCap Holdings N.V. has 59.8% gross margin and 51.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does AerCap Holdings N.V. have?
AerCap Holdings N.V.'s Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.