Air Lease (Air Lease) EBIT : $808 Mil (TTM As of Dec. 2023)

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What is Air Lease EBIT?

Air Lease's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $280 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $808 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Air Lease's annualized ROC % for the quarter that ended in Dec. 2023 was 2.38%. Air Lease's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.13%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Air Lease's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.30%.

Air Lease EBIT Historical Data

The historical data trend for Air Lease's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Air Lease EBIT Chart

Air Lease Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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772.38

689.70

591.64

-85.51

807.69

Air Lease Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															193.66	171.34	177.60	178.71	280.04

Competitive Comparison of Air Lease's EBIT

For the Rental & Leasing Services subindustry, Air Lease's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Air Lease's EV-to-EBIT Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Air Lease's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Air Lease's EV-to-EBIT falls into.

Air Lease EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $808 Mil.

Air Lease (NYSE:AL) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Air Lease's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	852.064 * ( 1 - 17.02% )	/	( (29297.975	+	30131.621)	/ 2 )
=	707.0427072	/	29714.798
=	2.38 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	29672.225	-	1400.89	-	( 512.084	-	max(0, 1542.374	-	515.734	+	512.084	))
=	29297.975

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	30452.252	-	1164.14	-	( 460.87	-	max(0, 1308.001	-	464.492	+	460.87	))
=	30131.621

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Air Lease's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1120.152	/	( ( (26768.696 + max(-1538.724, 0))	+	(27434.276 + max(-1304.379, 0)) )	/	2 )
=	1120.152	/	( ( 26768.696	+	27434.276 )	/	2 )
=	1120.152	/	27101.486
=	4.13 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	3.6500000000001)	-	(1400.89	+	141.484	+	0)
=	-1538.724

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	3.622)	-	(1164.14	+	143.861	+	-2.2737367544323E-13)
=	-1304.379

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Air Lease's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	807.687	/	24463.950
	=	3.30 %

Air Lease EBIT Related Terms

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Air Lease (Air Lease) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Air Lease Corp (NYSE:AL) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

ALpA.PFD:USA AVLA:Germany

Address

2000 Avenue of the Stars, Suite 1000N, Los Angeles, CA, USA, 90067

Website

https://www.airleasecorp.com

Air Lease Corp is an aircraft leasing company based in the United States. However, it derives its revenue from the Asia region. Its business involves purchasing aircraft from renowned manufacturers such as The Boeing Company (Boeing) and Airbus S.A.S and leasing them to airline companies across the world. Its suite of aircraft entails single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft. The company's primary source of revenue originates from the leasing of aircraft and to a certain extent from the provision of fleet management services to investors and owners of aircraft portfolios.

Executives

Alex A Khatibi	officer: EVP	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Yvette Hollingsworth Clark	director	C/O 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Gregory B Willis	officer: SVP FINANCE AND CFO	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 600N, LOS ANGELES CA 90067
Grant A Levy	officer: EVP, GENL. COUNSEL & SECRETARY	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Steven F Udvar-hazy	director, officer: Chairman and CEO	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Kishore Korde	officer: EVP, Marketing	2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Jie Chen	officer: EVP & MANAGING DIRECTOR, ASIA	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
John L Plueger	director, officer: PRESIDENT AND COO	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Marshall O Larsen	director	870 WINTER STREET, WALTHAM MA 02451
Cheryl Gordon Krongard	director	LEGG MASON, INC., 100 INTERNATIONAL DRIVE, BALTIMORE MD 21202
Susan Mccaw	director	LIONSGATE, 2700 COLORADO AVENUE, SANTA MONICA CA 90404
Marc H Baer	other: EVP	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Carol Hyland Forsyte	officer: EVP, GC, Corp Secretary & CCO	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
John D Poerschke	officer: SVP	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067
Ian M Saines	director	C/O AIR LEASE CORPORATION, 2000 AVENUE OF THE STARS, SUITE 1000N, LOS ANGELES CA 90067