AYR Aircastle LTD

Overview and Growth

In fiscal 2025, Aircastle LTD recorded $975.12M of revenue, net income of $194.05M, and an operating cash inflow of $483.05M. At $975.12M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 18.8% above fiscal 2024 revenue of $820.98M, marking a year-over-year increase. Total assets stood at $8.99B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.11x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The bottom-line result was net income of $194.05M, after the operating, financing, tax, and other items recognized for the period. Net margin was 19.9%, meaning that this portion of revenue remained as net income after all recognized expenses. The reported income-tax provision was $28.86M, the amount recognized between pretax income and the final net-income result. Return on period-end equity was 7.3%, relating annual net income to the equity capital on the balance sheet. Net income represented 2.2% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $194.05M was above fiscal 2024 net income of $123.61M, showing the direction of the bottom-line change.

Liquidity and Capital Structure

The company held $8.99B of assets against $6.32B of liabilities and $2.67B of equity, revealing how the asset base was financed. The company held $179.89M in cash and equivalents, a narrower liquidity measure than total current assets. The company carried $5.25B of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 1.97x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 58.4% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 29.7% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 70.3% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 2.0%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $8.51B in fiscal 2024, the current asset base moved 5.6% and finished higher. Book equity was 5.6% higher than fiscal 2024 equity of $2.53B, showing how shareholder capital changed year over year. Cash and equivalents were 35.5% lower than fiscal 2024 cash of $279.05M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported $483.05M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 2.49x, showing the relationship between accrual earnings and operating cash. Operating cash flow of $483.05M finished above fiscal 2024 operating cash flow of $464.02M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Feb 28, 2026. Analysis generated Oct 21, 2026.