Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide.
Established dividend payer with questionable track record.
Share Price & News
How has Aircastle's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AYR has not had significant price volatility in the past 3 months.
7 Day Return
US Trade Distributors
1 Year Return
US Trade Distributors
Return vs Industry: AYR exceeded the US Trade Distributors industry which returned -24.7% over the past year.
Return vs Market: AYR exceeded the US Market which returned -10.4% over the past year.
Price Volatility Vs. Market
How volatile is Aircastle's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 months ago | Simply Wall StAircastle Limited’s (NYSE:AYR) Investment Returns Are Lagging Its Industry
5 months ago | Simply Wall StWhat Aircastle Limited's (NYSE:AYR) ROE Can Tell Us
6 months ago | Simply Wall StWould Aircastle Limited (NYSE:AYR) Be Valuable To Income Investors?
Is Aircastle undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AYR ($32.01) is trading above our estimate of fair value ($17.67)
Significantly Below Fair Value: AYR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AYR is poor value based on its PE Ratio (15.3x) compared to the Trade Distributors industry average (10.6x).
PE vs Market: AYR is poor value based on its PE Ratio (15.3x) compared to the US market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: AYR is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: AYR is overvalued based on its PB Ratio (1.2x) compared to the US Trade Distributors industry average (0.9x).
How is Aircastle forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AYR's forecast earnings growth (7.4% per year) is above the savings rate (1.7%).
Earnings vs Market: AYR's earnings (7.4% per year) are forecast to grow slower than the US market (12.2% per year).
High Growth Earnings: AYR's earnings are forecast to grow, but not significantly.
Revenue vs Market: AYR's revenue is expected to decline over the next 3 years (-0.8% per year).
High Growth Revenue: AYR's revenue is forecast to decline over the next 3 years (-0.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if AYR's Return on Equity is forecast to be high in 3 years time
How has Aircastle performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AYR has high quality earnings.
Growing Profit Margin: AYR's current net profit margins (16.9%) are lower than last year (27.8%).
Past Earnings Growth Analysis
Earnings Trend: AYR's earnings have grown by 12.2% per year over the past 5 years.
Accelerating Growth: AYR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AYR had negative earnings growth (-36.9%) over the past year, making it difficult to compare to the Trade Distributors industry average (5.1%).
Return on Equity
High ROE: AYR's Return on Equity (7.6%) is considered low.
How is Aircastle's financial position?
Financial Position Analysis
Short Term Liabilities: AYR's short term assets ($593.3M) exceed its short term liabilities ($91.9M).
Long Term Liabilities: AYR's short term assets ($593.3M) do not cover its long term liabilities ($6.1B).
Debt to Equity History and Analysis
Debt Level: AYR's debt to equity ratio (246.6%) is considered high.
Reducing Debt: AYR's debt to equity ratio has increased from 221.8% to 246.6% over the past 5 years.
Debt Coverage: AYR's debt is not well covered by operating cash flow (10.6%).
Interest Coverage: AYR's interest payments on its debt are not well covered by EBIT (1.8x coverage).
What is Aircastle's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AYR's dividend (4%) is higher than the bottom 25% of dividend payers in the US market (1.95%).
High Dividend: AYR's dividend (4%) is low compared to the top 25% of dividend payers in the US market (5.4%).
Stability and Growth of Payments
Stable Dividend: AYR's dividends per share have been stable in the past 10 years.
Growing Dividend: AYR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (58.4%), AYR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AYR's dividends in 3 years are forecast to be well covered by earnings (43.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mike Inglese (57yo)
Mr. Michael J. Inglese, also known as Mike, serves as the Chief Financial Officer at Aircastle Advisor (International) Limited. Mr. Inglese has been the Chief Executive Officer of Aircastle Limited since J ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD6.25M) is about average for companies of similar size in the US market ($USD5.48M).
Compensation vs Earnings: Mike's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|CEO & Director||3.17yrs||US$6.25m||no data|
|Chief Financial Officer||2.67yrs||US$2.06m||no data|
|Executive Vice President of Corporate Finance & Strategy||2.67yrs||US$2.07m||no data|
|Chief Legal Officer & Secretary||5.25yrs||US$3.13m||no data|
|Chief Accounting Officer||1.42yrs||no data||no data|
|Executive Vice President of Technical||15.42yrs||US$624.81k||no data|
|Senior Vice President||no data||no data||no data|
|Executive Vice President of Asia-Pacific Operations||7.25yrs||no data||no data|
|Chief Risk Officer||8.17yrs||no data||no data|
|Chief Commercial Officer||0.83yr||no data||no data|
Experienced Management: AYR's management team is considered experienced (3.2 years average tenure).
|CEO & Director||3.17yrs||US$6.25m||no data|
|Independent Director||13.58yrs||US$286.59k||no data|
|Independent Chairman of the Board||7.58yrs||US$477.83k||no data|
|Independent Director||13.58yrs||US$241.59k||no data|
|Independent Director||9.67yrs||US$276.59k||no data|
|Independent Director||13.58yrs||US$266.59k||no data|
|Independent Director||5.83yrs||US$261.59k||no data|
|Independent Director||7.83yrs||US$231.59k||no data|
|Independent Director||7yrs||US$251.59k||no data|
|Director||2.67yrs||no data||no data|
Experienced Board: AYR's board of directors are considered experienced (7.7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Aircastle Limited's company bio, employee growth, exchange listings and data sources
- Name: Aircastle Limited
- Ticker: AYR
- Exchange: NYSE
- Founded: 2004
- Industry: Trading Companies and Distributors
- Sector: Capital Goods
- Market Cap: US$2.404b
- Shares outstanding: 75.11m
- Website: https://www.aircastle.com
Number of Employees
- Aircastle Limited
- 201 Tresser Boulevard
- Suite 400
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|AYR||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Aug 2006|
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2019, its aircraft portfolio comprised 287 aircraft leased to 85 lessees located in 49 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut. As of March 27, 2020, Aircastle Limited operates as a subsidiary of Marubeni Corporation.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/31 02:22|
|End of Day Share Price||2020/03/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.