Air Lease (Air Lease) Net-Net Working Capital : $-205.64 (As of Dec. 2023)

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What is Air Lease Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Air Lease's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-205.64.

The industry rank for Air Lease's Net-Net Working Capital or its related term are showing as below:

AL's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Business Services industry.
Industry Median: 6.225
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Air Lease Net-Net Working Capital Historical Data

The historical data trend for Air Lease's Net-Net Working Capital 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 Net-Net Working Capital Chart

Air Lease Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

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-139.11

-152.91

-165.58

-189.23

-205.64

Air Lease Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial															-189.23	-197.53	-201.11	-199.94	-205.64

Competitive Comparison of Air Lease's Net-Net Working Capital

For the Rental & Leasing Services subindustry, Air Lease's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Air Lease's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Air Lease's Price-to-Net-Net-Working-Capital falls into.

Air Lease Net-Net Working Capital Calculation

Air Lease's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

	Net-Net Working Capital		(A: Dec. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(460.87	+	0.75 * 0	+	0.5 * 0	-	23292.214
-	0.106	-	0)	/	111.027
=	-205.64

Air Lease's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

	Net-Net Working Capital		(Q: Dec. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(460.87	+	0.75 * 0	+	0.5 * 0	-	23292.214
-	0.106	-	0)	/	111.027
=	-205.64

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.

Air Lease (NYSE:AL) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.

Air Lease Net-Net Working Capital 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 » Net-Net Working Capital

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