The company maintains a disciplined capital structure, evidenced by a low debt-to-equity ratio of 0.08 as of 2026Q1, though this is offset by a thin cash position of only $2.1M.
| Total Current Assets | 282.01M | 268.99M | 284.03M | 264.77M | 333.56M | 271.53M | 178.96M | 141.79M | 41.09K | 100.65M |
| Cash & Short-Term Investments | 2.08M | 4.38M | 4.7M | 5.87M | 147.19M | 130.19M | 29.32M | 22.62M | 41.09K | 10.76M |
| Cash Only | 2.08M | 4.38M | 4.7M | 5.87M | 147.19M | 130.19M | 29.32M | 17.51M | 41.09K | 2.13M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.12M | 0 | 8.63M |
| Accounts Receivable | 47.12M | 42.65M | 42.81M | 32.87M | 28.27M | 29.35M | 50.69M | 51.87M | 27.82M | 22.79M |
| Days Sales Outstanding | 51.04 | 46.43 | 45.28 | 35.86 | 25.26 | 31.47 | 88.55 | 62.23 | 34.93 | 47.6 |
| Inventory | 0 | 0 | 224.83M | 177.77M | 117.49M | 81.76M | 85.19M | 57.92M | 55.64M | 56.72M |
| Days Inventory Outstanding | 99.88 | - | 340.33 | 268.03 | 166.76 | 135 | 199.14 | 96.46 | 92.92 | 149.17 |
| Other Current Assets | 232.81M | 221.96M | 11.69M | 12.51M | 13.02M | 15.95M | 7.56M | 9.38M | 0 | 10.38M |
| Total Non-Current Assets | 386.05M | 371.48M | 320.69M | 289.16M | 198.02M | 215.96M | 210.17M | 202.2M | 376.41K | 255.65M |
| Property, Plant & Equipment | 60.87M | 62.14M | 69.44M | 81.69M | 75.55M | 80.71M | 94.68M | 119.36M | 113.53M | 200.16M |
| Fixed Asset Turnover | 3.84x | 5.40x | 4.97x | 4.09x | 5.41x | 4.22x | 2.21x | 2.55x | 2.56x | 0.87x |
| Goodwill | 19.86M | 19.86M | 19.86M | 19.86M | 19.86M | 19.86M | 19.86M | 13.86M | 442.29K | 379.29K |
| Intangible Assets | 17.81M | 18.35M | 20.53M | 21.99M | 24.11M | 26.24M | 28.36M | 20.38M | 10.85M | 2.51M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 277.77M | 262.36M | 200.7M | 153.43M | 67.21M | 79.13M | 61.55M | 48.61M | -124.44M | 52.61M |
| Total Assets | 668.07M | 640.47M | 604.72M | 553.94M | 531.58M | 487.49M | 389.13M | 343.98M | 417.5K | 356.3M |
| Asset Turnover | 0.52x | 0.52x | 0.57x | 0.60x | 0.77x | 0.70x | 0.54x | 0.88x | 696.36x | 0.49x |
| Asset Growth % | 24.78% | 5.91% | 9.17% | 4.21% | 9.05% | 25.28% | 13.12% | 82291.44% | -99.88% | - |
| Total Current Liabilities | 75.35M | 72.43M | 74.97M | 45.71M | 52.84M | 67.91M | 31.68M | 41.19M | 392.95K | 110.36M |
| Accounts Payable | 31.26M | 29.64M | 34.18M | 29.9M | 21.13M | 19.97M | 16.36M | 17.03M | 0 | 12.64M |
| Days Payables Outstanding | 49.66 | 47.15 | 51.74 | 45.08 | 29.99 | 32.97 | 38.25 | 28.36 | - | 33.24 |
| Short-Term Debt | 5.11M | 5.31M | 605K | 1.28M | 0 | 0 | 0 | 3.35M | 150K | 82.12M |
| Deferred Revenue (Current) | 6.56M | 780K | 26.69M | 4.46M | 18.44M | 36.07M | 5.42M | 0 | -12.67M | 0 |
| Other Current Liabilities | 36.86M | 36.7M | 1.61M | 2.24M | 6.04M | 6.29M | 6.62M | 11.18M | -17.9M | 10.71M |
| Current Ratio | 3.74x | 3.71x | 3.79x | 5.79x | 6.31x | 4.00x | 5.65x | 3.44x | 0.10x | 0.91x |
| Quick Ratio | 3.74x | 3.71x | 0.79x | 1.90x | 4.09x | 2.79x | 2.96x | 2.04x | -141.50x | 0.40x |
| Cash Conversion Cycle | 101.25 | - | 333.86 | 258.82 | 162.03 | 133.5 | 249.44 | 130.33 | - | 163.53 |
| Total Non-Current Liabilities | 169.94M | 143.61M | 74.13M | 63.21M | 33.76M | 10.7M | 6M | 8.81M | 10.21M | 16.16M |
| Long-Term Debt | 28.19M | 29.47M | 40.44M | 36.28M | 0 | 0 | 0 | 0 | 3.22M | 8.42M |
| Capital Lease Obligations | 83.28M | 0 | 30.57M | 24.38M | 28.28M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 1.11M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 141.75M | 114.13M | 3.12M | 2.55M | 5.48M | 9.59M | 6M | 8.81M | 7M | 7.74M |
| Total Liabilities | 245.28M | 216.04M | 149.1M | 108.92M | 86.6M | 78.61M | 37.67M | 50M | 392.95K | 126.52M |
| Total Debt | 33.29M | 34.78M | 75.97M | 66.53M | 32.71M | 0 | 0 | 3.35M | 150K | 90.54M |
| Net Debt | 31.21M | 30.4M | 71.27M | 60.66M | -114.48M | -130.19M | -29.32M | -14.15M | 108.91K | 88.41M |
| Debt / Equity | 0.08x | 0.08x | 0.17x | 0.15x | 0.07x | - | - | 0.01x | 6.11x | 0.39x |
| Debt / EBITDA | 0.98x | 0.99x | 2.90x | 1386.02x | 0.50x | - | - | 0.06x | 0.00x | - |
| Net Debt / EBITDA | 0.92x | 0.87x | 2.72x | 1263.67x | -1.73x | -1.87x | -0.83x | -0.27x | 0.00x | - |
| Interest Coverage | 3.83x | 1.90x | 1.71x | - | - | 57.82x | 5.99x | 7.54x | 10.89x | - |
| Total Equity | 422.78M | 424.43M | 455.62M | 445.01M | 444.98M | 408.88M | 351.45M | 293.99M | 24.55K | 229.78M |
| Equity Growth % | -17.99% | -6.85% | 2.38% | 0.01% | 8.83% | 16.34% | 19.55% | 1197445.18% | -99.99% | - |
| Book Value per Share | 8.95 | 8.89 | 8.54 | 8.65 | 8.37 | 8.64 | 9.01 | 6.76 | 0.00 | 4.60 |
| Total Shareholders' Equity | 422.78M | 424.43M | 455.62M | 445.01M | 444.98M | 408.88M | 351.45M | 293.99M | 24.55K | 268.92M |
| Common Stock | 5K | 5K | 5K | 5K | 5K | 5K | 4K | 529 | 431 | 500 |
| Retained Earnings | 144.25M | 147.7M | 139.12M | 133.27M | 138.83M | 94.97M | 58.86M | 50.76M | -451 | 25.7M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2K | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -39.13M |
Inventory Liquidation Timing Risk
According to recent balance sheet data, AerSale's total assets have grown from $553.9M in 2023Q4 to $668.1M in 2026Q1, reflecting a strategic accumulation of flight equipment that suggests management is positioning for future market demand despite the inherent lumpiness of their asset-heavy business model.
The steady increase in total assets indicates a deliberate effort to expand the company's inventory footprint, likely in anticipation of future USM demand. However, investors should monitor whether this asset growth translates into improved asset turnover, as the current trajectory appears to be driven more by inventory accumulation than by accelerating operational efficiency.
As reported in financial statements, AerSale maintains a disciplined capital structure with a debt-to-equity ratio of 0.08 as of 2026Q1, which stands in stark contrast to the significantly higher leverage profiles typically observed among aviation leasing and MRO industry peers.
This minimal reliance on debt provides a critical buffer against the cyclical downturns common in the aviation aftermarket. By avoiding the interest rate sensitivity that plagues more levered competitors, the company retains the strategic optionality to acquire feedstock opportunistically when market conditions are favorable.
Based on the most recent quarterly figures, AerSale's cash balance of $2.1M represents a significant contraction from the $9.8M reported in 2024Q3, suggesting that the company's liquidity buffer remains thin relative to the capital-intensive nature of its inventory-heavy operations.
While the current ratio of 3.74 appears robust on the surface, the reliance on inventory liquidation to generate cash flow may create liquidity constraints during periods of market stagnation. Investors should remain cautious, as the lack of a substantial cash cushion may limit the company's ability to execute large-scale fleet acquisitions without external financing.
As indicated by the company's reported figures, the heavy concentration of value in inventory relative to cash, which sits at only $2.1M, suggests that the balance sheet's strength is highly dependent on the accuracy of management's internal fair value estimates for aircraft parts.
The reliance on allocated cost methods for inventory valuation introduces a layer of subjectivity that could lead to future impairment risks if market demand for specific aircraft components shifts unexpectedly. This structural dependency on the secondary market makes the balance sheet appear more stable than it might be during a prolonged industry downturn.
Quick answers to the most common questions about buying ASLE stock.
As of 2025, AerSale Corporation (ASLE) had total assets of $640.5M including $269.0M in current assets.
AerSale Corporation (ASLE) carries total debt of $34.8M, offset by $4.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
AerSale Corporation (ASLE) has total shareholders' equity (book value) of $424.4M ($8.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
AerSale Corporation (ASLE) reported a current ratio of 3.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.