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Financials · WLFC

Willis Lease Finance Corporation (WLFC) financials

For the twelve months ended Sep 30, 2026, Willis Lease Finance Corporation reported $828.30M of revenue and $79.11M of net income.

Revenue, TTM
$828.30M
Revenue growth, YoY
+20.1%
Net income, TTM
$79.11M
Net income growth, YoY
-35.5%
Net margin
9.6%
Free cash flow, TTM
$296.89M
EPS, diluted, TTM
$3.37
EPS growth, YoY
-39.3%
Cash
$11.06M
Total debt
$2.52B
P/E
12.53
P/S
1.20
Market cap
$991.7M
Annual revenue$730.24M
FY2016FY2025
Annual net income$113.76M
FY2016FY2025
Annual free cash flow$252.15M
FY2016FY2025

WLFC revenue and earnings growth

WLFC revenueQ3 2026$246.32M

Quarter YoY
+34.3%
QoQ
+27.0%
FY YoY
+28.3%
5Y CAGR
+20.4%
10Y CAGR
+13.9%

WLFC revenue was $246.32M in fiscal Q3 2026 (ended Sep 30, 2026), up 34.3% from a year earlier and up 27.0% from the prior quarter. For the full fiscal 2025 it was $730.24M, up 28.3% from fiscal 2024. Compound annual growth was +20.4% over 5 years and +13.9% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

WLFC net incomeQ3 2026$11.67M

Quarter YoY
-52.0%
QoQ
-61.3%
FY YoY
+4.7%
5Y CAGR
+63.5%
10Y CAGR
+33.2%

WLFC net income was $11.67M in fiscal Q3 2026 (ended Sep 30, 2026), down 52.0% from a year earlier and down 61.3% from the prior quarter. For the full fiscal 2025 it was $113.76M, up 4.7% from fiscal 2024. Compound annual growth was +63.5% over 5 years and +33.2% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

WLFC EPSQ3 2026$0.47

Quarter YoY
-56.5%
QoQ
-64.1%
FY YoY
+0.3%
5Y CAGR
+71.1%
10Y CAGR
+34.2%

WLFC diluted EPS was $0.47 in fiscal Q3 2026 (ended Sep 30, 2026), down 56.5% from a year earlier and down 64.1% from the prior quarter. For the full fiscal 2025 it was $5.13, up 0.3% from fiscal 2024. Compound annual growth was +71.1% over 5 years and +34.2% over 10 years.

WLFC free cash flowQ3 2026$102.73M

Quarter YoY
+77.6%
QoQ
+37.4%
FY YoY
-6.2%
5Y CAGR
+22.8%
10Y CAGR
+10.4%

WLFC free cash flow was $102.73M in fiscal Q3 2026 (ended Sep 30, 2026), up 77.6% from a year earlier and up 37.4% from the prior quarter. For the full fiscal 2025 it was $252.15M, down 6.2% from fiscal 2024. Compound annual growth was +22.8% over 5 years and +10.4% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$730.24M$569.22M$418.56M$311.93M$274.20M$288.69M$409.16M$348.35M$274.84M$207.27M
Cost of revenue------$62.65M$61.02M$40.85M$13.29M
Gross profit------$346.51M$287.32M$233.99M$193.98M
Selling, general and admin$194.74M$146.76M$115.74M$92.53M$75.35M$67.91M$86.52M$72.02M$55.74M$47.78M
Operating income$104.29M$144.40M$64.22M$9.86M$8.34M$14.69M$80.30M$52.47M$28.85M$22.13M
Interest expense$132.06M$104.76M$78.80M$66.74M$67.98M$63.02M$66.89M$64.22M$48.72M$41.14M
Pre-tax income$160.61M$152.65M$67.13M$9.79M$9.14M$17.34M$88.88M$56.27M$36.01M$23.95M
Income tax$46.85M$44.03M$23.35M$4.35M$5.79M$7.59M$21.96M$13.04M-$26.15M$9.88M
Net income$113.76M$108.61M$43.78M$5.44M$3.35M$9.75M$66.92M$43.23M$62.16M$14.07M
EPS, basic$5.33$5.32$2.13$0.12$0.00$0.36$3.63$2.25$3.31$0.70
EPS, diluted$5.13$5.11$2.08$0.11$0.00$0.35$3.50$2.20$3.23$0.68
Diluted shares21.1M20.4M19.4M18.9M19.0M18.4M18.2M18.1M18.7M20.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$16.44M$132.50M$168.03M$89.02M$95.64M$78.92M$63.67M$81.95M$47.32M$32.37M
Receivables$35.72M$38.29M$58.48M-------
Inventory---------$25.44M
Goodwill$300.0K$1.00M--------
Total assets$3.94B$3.30B$2.65B$2.58B$2.46B$2.36B$1.94B$1.93B$1.60B$1.34B
Total debt$2.70B$2.26B$1.80B$1.85B$1.79B$1.69B$1.25B$1.34B$1.09B$900.25M
Total liabilities$3.21B$2.68B$2.16B$2.12B$2.04B$1.95B$1.54B$1.60B$1.30B$1.12B
Shareholders' equity$662.14M$549.34M$438.96M$404.69M$375.88M$364.01M$350.34M$286.79M$258.91M$196.26M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$283.24M$284.41M$229.74M$144.42M$90.66M$93.44M$230.31M$188.69M$137.14M$91.59M
Capital expenditures$31.08M$15.63M$5.14M$6.63M$2.17M$2.98M$6.33M$3.49M$10.79M$1.01M
Free cash flow$252.15M$268.77M$224.60M$137.79M$88.49M$90.47M$223.99M$185.20M$126.35M$90.58M
Investing cash flow-$256.40M-$764.91M-$92.78M-$194.38M-$148.00M-$506.67M-$147.44M-$380.47M-$325.59M-$123.22M
Financing cash flow$387.60M$444.98M-$57.94M$43.33M$74.05M$428.48M-$101.15M$226.41M$203.41M$21.25M
Dividends paid$8.72M$10.72M$0-------
Share repurchases$3.79M$0$9.43M$5.25M$10.09M$1.51M$3.57M$16.14M$3.55M$28.96M
Stock-based compensation$44.57M$29.25M$14.80M$13.55M$16.58M$11.38M$7.79M$5.41M$4.27M$3.72M
Depreciation and amortization$111.55M$92.46M$90.92M$88.26M$90.50M$94.54M$86.24M$76.81M$66.02M$66.28M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY28.3%36.0%34.2%13.8%-5.0%-29.4%17.5%26.7%32.6%4.7%
Net income growth, YoY4.7%148.1%704.9%62.3%-65.6%-85.4%54.8%-30.4%341.8%117.8%
EPS growth, YoY0.3%146.2%1787.9%--100.0%-90.0%59.1%-31.9%372.7%153.1%
Gross margin------84.7%82.5%85.1%93.6%
Operating margin14.3%25.4%15.3%3.2%3.0%5.1%19.6%15.1%10.5%10.7%
Net margin15.6%19.1%10.5%1.7%1.2%3.4%16.4%12.4%22.6%6.8%
Free cash flow margin34.5%47.2%53.7%44.2%32.3%31.3%54.7%53.2%46.0%43.7%
Return on equity17.2%19.8%10.0%1.3%0.9%2.7%19.1%15.1%24.0%7.2%
Return on assets2.9%3.3%1.7%0.2%0.1%0.4%3.4%2.2%3.9%1.1%
Debt to equity4.084.124.114.564.764.653.574.664.194.59

Source: XBRL data Willis Lease Finance Corporation files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 3-for-1, first reported Aug 4, 2026.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

WLFC peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
WLFC$828.30M+20.1%$79.11M9.6%$991.7M
ISRG$11.58B+20.5%$2.96B25.5%$156.96B
EW$6.67B+13.4%$1.02B15.3%$58.73B
STE$6.17B+8.1%$826.90M13.4%$24.60B
ZBH$8.57B+7.0%$767.30M9.0%$19.98B
MAS$7.67B+0.9%$926.00M12.1%$15.85B
SNN$6.16B+6.1%$625.00M10.1%$13.04B
ALGN$4.16B+4.4%$491.87M11.8%$11.70B
AIT$5.06B+8.5%$424.12M8.4%$10.35B

WLFC FAQ

8 questions
  • What is WLFC revenue?
    Willis Lease Finance Corporation (WLFC) reported $828.30M of revenue for the twelve months ended Sep 30, 2026. That is up 20.1% from the year before. Revenue for fiscal 2025 was $730.24M.
  • Is WLFC profitable?
    Yes. Willis Lease Finance Corporation earned $79.11M in net income for the twelve months ended Sep 30, 2026, a net margin of 9.6%.
  • How much cash and debt does WLFC have?
    Willis Lease Finance Corporation reported $11.06M in cash and cash equivalents and $2.52B of debt on its most recent balance sheet in SEC filings.
  • How fast is WLFC revenue growing?
    Willis Lease Finance Corporation's revenue changed +28.3% in fiscal 2025, to $730.24M. Its compound annual growth rate was +20.4% over 5 years and +13.9% over 10 years.
  • What is WLFC free cash flow?
    Willis Lease Finance Corporation generated $296.89M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $313.12M less capital expenditures.
  • What is WLFC earnings per share?
    Diluted earnings per share were $3.37 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did WLFC last report financial results?
    The latest statements here come from Willis Lease Finance Corporation's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this WLFC financial data come from?
    Quantisnow builds these statements from the structured XBRL data Willis Lease Finance Corporation files with the SEC. It is provided for information only and is not investment advice.