FTAI Aviation Ltd.
- Open
- 264.93
- Day high
- 273.32
- Day low
- 261.27
- Prev close
- 263.62
- Volume
- 878K
- Mkt cap
- $27.8B
- P/E (TTM)
- 53.1
- EPS (TTM)
- $5.09
- P/B
- 64.3
- P/S
- 9.8
- Yield
- 0.55%
- Per share
- $1.50
- ▼Insiders net selling -$61.6M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
FTAI Aviation Ltd. (FTAI) is a Industrials company listed on NASDAQ. The stock is up 129% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
FTAI Aviation Ltd. (FTAI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FTAI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $1.61 | $1.29 | -19.9% | $831M | +10.8% |
| Feb 26, 2026 | $1.22 | $1.08 | -11.5% | $658M | -13.6% |
| Jul 29, 2025 | $1.29 | $1.57 | +21.7% | $676M | +18.9% |
| Apr 30, 2025 | $0.95 | $0.87 | -8.9% | $502M | -0.5% |
| Feb 26, 2025 | $0.90 | $0.84 | -6.4% | $499M | +0.8% |
| Jul 23, 2024 | $0.47 | $0.26 | -44.5% | $447M | +23.3% |
| Apr 25, 2024 | $0.38 | $0.31 | -18.4% | $331M | +9.5% |
| Feb 22, 2024 | $0.44 | $1.09 | +147.7% | $317M | +2.1% |
| Oct 25, 2023 | $0.42 | $0.33 | -21.4% | $291M | -6.1% |
| Jul 26, 2023 | $0.30 | $0.46 | +53.3% | $274M | -3.2% |
| Feb 23, 2023 | $0.50 | $0.20 | -60.0% | $274M | +12.7% |
| Oct 27, 2022 | $0.57 | $0.05 | -91.2% | $230M | +52.8% |
FTAI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | GOODWIN PAUL Rdirector | Grant | 124 | — |
| Jun 15, 2026 | TUCHMAN MARTINdirector | Grant | 86 | — |
| Jun 15, 2026 | ROBINSON RAY Mdirector | Grant | 119 | — |
| May 29, 2026 | GIDUMAL SHYAM Hdirector | Grant | 552 | — |
| May 29, 2026 | HANNAWAY JUDITH Adirector | Grant | 552 | — |
| May 29, 2026 | HANNAWAY JUDITH Adirector | Sell | 255 | $253.89 |
| May 29, 2026 | LEVISON A ANDREWdirector | Grant | 552 | — |
| May 29, 2026 | ROBINSON RAY Mdirector | Grant | 552 | — |
| May 29, 2026 | TUCHMAN MARTINdirector | Grant | 552 | — |
| May 29, 2026 | Adams Joseph P. Jr.director, officer: CEO and Chairman | Tax | 10,783 | $262.78 |
| May 29, 2026 | GOODWIN PAUL Rdirector | Grant | 552 | — |
| May 12, 2026 | Adams Joseph P. Jr.director, officer: CEO and Chairman | Option | 12,448 | $25.44 |
| May 12, 2026 | Adams Joseph P. Jr.director, officer: CEO and Chairman | Tax | 7,752 | $270.29 |
| May 5, 2026 | TUCHMAN MARTINdirector | Sell | 67,500 | $241.99 |
| May 5, 2026 | TUCHMAN MARTINdirector | Sell | 43,176 | $240.64 |
Source: FTAI SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full FTAI insider & 13F page →FTAI Aviation Ltd. company profile
Overview
FTAI Aviation Ltd. (NYSE:FTAI) is a specialized aviation finance and aerospace services company founded in 2011 and headquartered in New York. The company operates as a vertically integrated aviation business that owns, leases, and maintains commercial aircraft and engines while also manufacturing aftermarket aerospace products. FTAI has evolved from a traditional aviation leasing company into a comprehensive aerospace services provider, focusing particularly on older-generation commercial aircraft engines like the CFM56 and V2500 that power narrow-body aircraft worldwide.
Business
FTAI Aviation operates in the commercial aviation industry through two primary business segments that together create a vertically integrated aerospace ecosystem. The Aviation Leasing segment represents the company's traditional aircraft financing business, accounting for approximately 35-40% of total EBITDA. This segment owns and manages a portfolio of 363 aviation assets, including 96 commercial aircraft and 267 engines. The company leases these assets to airlines, cargo operators, and other aviation companies worldwide. Aviation leasing is a capital-intensive business where companies purchase expensive aircraft and engines (often costing tens of millions of dollars each) and lease them to airlines that prefer not to tie up capital in aircraft ownership. Airlines benefit from operational flexibility, while lessors like FTAI earn steady rental income and retain ownership of appreciating assets. The Aerospace Products segment has become the company's growth engine, contributing approximately 60-65% of total EBITDA with significantly higher margins. This segment operates maintenance, repair, and overhaul (MRO) facilities that specialize in engine maintenance for older-generation aircraft engines, particularly CFM56 and V2500 engines. The segment's flagship offering is its modular engine maintenance program, where airlines can swap out engine modules (major engine components) rather than removing entire engines for maintenance. This innovative approach reduces aircraft downtime from weeks to hours, providing substantial cost savings and operational efficiency for airline customers. The Aerospace Products segment also develops and manufactures Parts Manufacturer Approval (PMA) components - aftermarket parts that are FAA-approved alternatives to original equipment manufacturer (OEM) parts. These parts typically cost 30-50% less than OEM equivalents while meeting the same safety and performance standards. Additionally, the segment operates a Used Serviceable Material (USM) business, harvesting and reselling components from retired aircraft engines.
Revenue model
FTAI Aviation generates revenue through multiple complementary streams that leverage its integrated business model. The Aviation Leasing segment earns steady rental income from long-term lease agreements with airlines, typically ranging from 3-12 years. Lease rates vary based on aircraft type, age, and market conditions, with newer or more in-demand aircraft commanding premium rates. The segment also generates gains from strategic asset sales when market conditions are favorable. The Aerospace Products segment operates on a fee-for-service model, charging airlines for engine maintenance, module swaps, and component repairs. The company's modular maintenance program commands premium pricing because it dramatically reduces aircraft downtime - a critical factor for airlines where each day of aircraft grounding can cost $50,000-100,000 in lost revenue. Module swap services typically generate $300,000-500,000 per engine event, with gross margins of 35-40%. The segment also sells PMA parts and USM components, which carry higher margins than service work. Several factors influence FTAI's profitability. Positive margin drivers include the ongoing global shortage of aircraft engines and parts, which has increased demand for alternative maintenance solutions and driven up pricing power. The company benefits from supply chain constraints affecting OEM parts availability, making its aftermarket alternatives more attractive. The grounding of newer aircraft due to technical issues (such as Pratt & Whitney GTF engine problems) has increased demand for older-generation aircraft that FTAI specializes in. Margin pressures come from raw material cost inflation, labor shortages in skilled aviation maintenance, and potential economic downturns that reduce airline profitability and maintenance spending. Competition from OEMs expanding their aftermarket services and other independent MRO providers could also pressure pricing. Additionally, the eventual phase-out of older aircraft engines as airlines transition to newer, more fuel-efficient models represents a long-term headwind, though this transition is expected to take 15-20 years.
Competitive moat
FTAI Aviation has built a moderately strong competitive moat through its vertically integrated business model and specialized expertise in older-generation aircraft engines. The company's primary moat stems from its unique combination of engine ownership, maintenance capabilities, and proprietary parts manufacturing - a model that requires substantial capital investment and years of operational expertise to replicate. The company's technical moat includes its extensive library of engine teardown data, maintenance procedures, and PMA part designs developed over more than a decade. This knowledge base is difficult for competitors to replicate quickly. FTAI's relationships with airlines and lessors, built through reliable service delivery, create switching costs as customers integrate the company's maintenance programs into their operations. The capital intensity of the business model serves as a barrier to entry, as competitors would need hundreds of millions of dollars to acquire a meaningful engine portfolio and establish maintenance facilities. FTAI's scale advantages in parts procurement and inventory management also provide cost benefits that smaller competitors cannot match. However, the moat faces several challenges. Large OEMs like GE, Pratt & Whitney, and Rolls-Royce are expanding their aftermarket services and could leverage their original design knowledge to compete more aggressively. Well-capitalized competitors like Lufthansa Technik or other major MRO providers could potentially replicate FTAI's model. The eventual transition to newer aircraft engines will erode the addressable market for FTAI's current specialization, though this threat is mitigated by the long operational life of commercial aircraft (typically 20-30 years) and the large installed base of CFM56 and V2500 engines currently in service.
Risks & safety
FTAI Aviation presents a moderate margin of safety with some concerning liquidity metrics but strong operational cash generation potential. • **Solvency concerns**: The company shows negative free cash flow of -$25.9 million in Q1 2025 and -$1.34 billion for FY 2024, primarily due to heavy capital investments in growth initiatives • **Debt position**: Total liabilities of $4.24 billion against total assets of $4.27 billion, though much of this represents non-recourse asset financing typical in aviation leasing • **Liquidity**: Current ratio of 3.95 and cash of $112 million provide adequate short-term liquidity • **Valuation metrics**: Trading at 31.6x P/E and 25.5x EV/EBITDA, indicating premium valuation that requires continued execution • **Credit profile**: Management targets maintaining BB credit rating with 3-3.5x debt-to-EBITDA ratio • **Growth investment phase**: Current negative free cash flow reflects strategic investments in expanding production capacity and the Strategic Capital Initiative, with management projecting $650 million positive adjusted free cash flow for 2025
Recent development
Over the past several years, FTAI Aviation has undergone a strategic transformation from a traditional aviation lessor to a vertically integrated aerospace services company. The most significant development has been the rapid expansion of the Aerospace Products segment, which has grown from generating $20-30 million quarterly EBITDA in 2022 to over $130 million in Q1 2025. Key strategic initiatives include the launch of the Strategic Capital Initiative (SCI) in 2024, a $2.5 billion partnership with Apollo and Deutsche Bank aimed at scaling the company's engine leasing and maintenance operations. This initiative targets achieving 25% market share in the engine maintenance aftermarket, up from the current 5% penetration of the $22 billion addressable market. The company has significantly expanded its production capacity, establishing new facilities in Montreal, Miami, and Rome. The Montreal facility has ramped up to produce 90-100 engine modules per quarter, with total capacity expected to reach 200 modules quarterly. FTAI has also developed its PMA parts program, with initial parts now flying nearly 100,000 hours and additional parts in the approval pipeline. Operationally, the company has expanded its customer base from 25 unique customers in 2022 to over 50 by 2024, while increasing module production from 100 units annually to over 300. The acquisition of maintenance capabilities and the development of field service offerings have enhanced the company's value proposition to airline customers. Geographic expansion into Southeast Asia and potential entry into the Chinese market represent additional growth vectors.
FTAI company profile · for informational purposes only — not investment advice.
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