NYSE:FLY

Stock Analysis Report

Executive Summary

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide.


Snowflake Analysis

Solid track record and fair value.


Similar Companies

Share Price & News

How has Fly Leasing's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FLY's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-27.4%

FLY

1.6%

US Trade Distributors

2.4%

US Market


1 Year Return

-65.0%

FLY

-23.1%

US Trade Distributors

-10.0%

US Market

Return vs Industry: FLY underperformed the US Trade Distributors industry which returned -27.1% over the past year.

Return vs Market: FLY underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

FLYIndustryMarket
7 Day-27.4%1.6%2.4%
30 Day-64.4%-17.9%-11.0%
90 Day-73.7%-33.0%-19.4%
1 Year-65.0%-65.0%-21.6%-23.1%-8.1%-10.0%
3 Year-60.7%-60.7%-14.8%-18.7%17.3%9.6%
5 Year-64.0%-65.9%-0.1%-7.6%36.1%21.1%

Price Volatility Vs. Market

How volatile is Fly Leasing's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fly Leasing undervalued compared to its fair value and its price relative to the market?

0.72x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate FLY's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate FLY's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: FLY is good value based on its PE Ratio (0.7x) compared to the Trade Distributors industry average (10.1x).

PE vs Market: FLY is good value based on its PE Ratio (0.7x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: FLY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FLY is good value based on its PB Ratio (0.2x) compared to the US Trade Distributors industry average (0.9x).


Next Steps

Future Growth

How is Fly Leasing forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-30.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FLY's earnings are forecast to decline over the next 3 years (-30.8% per year).

Earnings vs Market: FLY's earnings are forecast to decline over the next 3 years (-30.8% per year).

High Growth Earnings: FLY's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FLY's revenue is expected to decline over the next 3 years (-8.5% per year).

High Growth Revenue: FLY's revenue is forecast to decline over the next 3 years (-8.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FLY's Return on Equity is forecast to be low in 3 years time (6.1%).


Next Steps

Past Performance

How has Fly Leasing performed over the past 5 years?

39.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FLY has high quality earnings.

Growing Profit Margin: FLY's current net profit margins (40.2%) are higher than last year (20.7%).


Past Earnings Growth Analysis

Earnings Trend: FLY's earnings have grown significantly by 39.7% per year over the past 5 years.

Accelerating Growth: FLY's earnings growth over the past year (163.5%) exceeds its 5-year average (39.7% per year).

Earnings vs Industry: FLY earnings growth over the past year (163.5%) exceeded the Trade Distributors industry 5.1%.


Return on Equity

High ROE: Whilst FLY's Return on Equity (25.72%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Fly Leasing's financial position?


Financial Position Analysis

Short Term Liabilities: FLY's short term assets ($376.7M) exceed its short term liabilities ($23.1M).

Long Term Liabilities: FLY's short term assets ($376.7M) do not cover its long term liabilities ($2.8B).


Debt to Equity History and Analysis

Debt Level: FLY's debt to equity ratio (266.8%) is considered high.

Reducing Debt: FLY's debt to equity ratio has reduced from 402.6% to 266.8% over the past 5 years.

Debt Coverage: FLY's debt is not well covered by operating cash flow (11.6%).

Interest Coverage: FLY's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet


Next Steps

Dividend

What is Fly Leasing's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FLY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate FLY's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FLY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FLY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: FLY is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FLY's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

12.8yrs

Average board tenure


CEO

Colm Barrington (73yo)

12.92s

Tenure

Mr. Colm Barrington has been the Chief Executive Officer at FLY Leasing Limited since May 2007. Mr. Barrington has been a Partner at Babcock & Brown since 1994 and shared responsibility for the company’s m ...


Board Members

NamePositionTenureCompensationOwnership
Colm Barrington
CEO & Director12.92yrsno datano data
Eugene McCague
Independent Director5.42yrsno datano data
Erik Braathen
Independent Director12.83yrsno datano data
Steven Zissis
Director12.83yrsno data0.53% $833.5k
Joseph Donovan
Independent Chairman of the Board10yrsno datano data
Susan Walton
Independent Director12.83yrsno datano data
Robert Tomczak
Director10yrsno datano data

12.8yrs

Average Tenure

60yo

Average Age

Experienced Board: FLY's board of directors are seasoned and experienced ( 12.8 years average tenure).


Ownership

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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.3%.


Top Shareholders

Company Information

Fly Leasing Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fly Leasing Limited
  • Ticker: FLY
  • Exchange: NYSE
  • Founded: 2007
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: US$158.200m
  • Shares outstanding: 30.90m
  • Website: https://www.flyleasing.com

Location

  • Fly Leasing Limited
  • West Pier Business Campus
  • Dun Laoghaire
  • Co. Dublin
  • A96 N6T7
  • Ireland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FLYNYSE (New York Stock Exchange)YesADR REPR 1 ORD USD0.001USUSDSep 2007
3BBBDB (Deutsche Boerse AG)YesADR REPR 1 ORD USD0.001DEEURSep 2007

Biography

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines. The company was founded in 2007 and is headquartered in Dun Laoghaire, Ireland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 04:51
End of Day Share Price2020/04/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.