FTAI
FTAI Aviation Ltd.
Technology • CIK: 0001590364
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Market Cap
$17.11B
P/E (TTM)
37.8x
Rev Growth (TTM)
+51.4%
Net Margin (TTM)
19.3%
FCF Yield (TTM)
-1.2%
FCF Margin (TTM)
-8.4%
Cash Flow Health
Free Cash Flow2/8 positive
TTM$-197M
Q3 '25
$-2M+98%
Q2 '25
$-117M-289%
FCF Margin
TTM-8.4%
Q3 '25-0.3%+98%
Sector: 10.0%Below Avg
OCF Margin-7.4%
OCF/NI-0.38x
CapEx Coverage-7.3x
FCF Yield-1.2%
FCF Growth (2Y)–
Cash Conversion Cycle
199 days
DSO: 31+DIO: 195−DPO: 27
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldEst.
Est.0.7%
Div Yield0.7%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.7%
Free Cash Flow (TTM)$-197.2M
Capital Return / FCF-73.2%
Est. Dividends Paid (TTM)$128.2M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
18.1%
Volatile
+98.3%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
25.8%
8Q: 25.1%
Asset Turnover
0.57x
8Q: 0.52x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 14.8% ≈ 18.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
1.12x
8Q:1.31x
-5240.1%
Invested Cap Turn
0.70x
8Q:0.86x
-861.5%
CapEx Intensity
0.7%
8Q:0.7%
CapEx/Depreciation
0.11x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $2.3B | $667.1M↓1.4% | $676.2M↑34.7% | $502.1M↑0.7% | $498.8M↑7.1% | $465.8M↑5.0% | $443.6M↑35.8% | $326.7M↑4.5% | $312.7M |
Operating Income | $720.5M | $200.9M↓4.6% | $210.5M↑39.4% | $151.0M↓4.6% | $158.2M↑6.0% | $149.3M↑191.8% | $-162.6M↓275.0% | $92.9M↑5.8% | $87.9M |
Net Income | $452.3M | $114.0M↓29.5% | $161.7M↑79.8% | $89.9M↑3.8% | $86.7M↑10.9% | $78.1M↑134.2% | $-228.2M↓829.4% | $31.3M↓71.6% | $110.0M |
Operating Cash Flow | $-173.5M | $4.6M↑104.2% | $-110.3M↓324.9% | $-26.0M↑37.9% | $-41.8M↓200.8% | $41.5M↑122.1% | $-187.3M↓54187.2% | $-345.0K↓102.8% | $12.2M |
Free Cash Flow | $-197.2M | $-1.8M↑98.5% | $-117.2M↓289.2% | $-30.1M↑37.3% | $-48.1M↓217.2% | $41.0M↑121.7% | $-188.4M↓11273.0% | $-1.7M↓116.6% | $10.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
37.8x
Volatile
8Q: 138.2x+4550%
Valuation Lenses
Earnings
37.8x
vs – sector
Cash Flow
-85.7x
EV/FCF vs –
Growth-Adj
0.7xPEG
Undervalued for growth
Quality-Adj
2.1P/E per %ROIC
ROIC: 18.1%
Shareholder Returns
Dividend
0.7%
Buyback
–
Total Yield
0.7%
Market Cap$17.11B
EV$16.90B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
40/100
Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
3.9%
8Q:–
Return on Invested Capital (ROIC)Top 25%
18.1%
8Q:–
+98.3%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 25.8%
Asset Turnover: 0.57x
Earnings Quality
Cash Conversion
-0.38x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin47.2%
Capital Efficiency
Invested Capital Turnover0.70x
Working Capital
Cash Conversion Cycle199 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
51.4%
OpInc Growth YoY
34.6%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
47.2%
Operating
30.7%
Top 25% in sector
Net
19.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-27.7 pts
FCF: -8.4% | Net: 19.3%
FCF margin lags net margin by 27.7 pts
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $510.10M
Interest Coverage
–
+Net cash position: $510.10M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis