Air Lease Corporation (AL)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 753,634 | 667,410 | 640,231 | 621,212 | -138,767 | -130,562 | -133,856 | -164,226 | 541,016 | 490,457 | 509,167 | 578,535 | 646,678 | 715,275 | 755,807 | 732,413 | 735,685 | 701,295 | 686,890 | 673,763 |
| Revenue (ttm) | US$ in thousands | 2,684,978 | 2,570,020 | 2,471,990 | 2,356,782 | 2,317,301 | 2,312,867 | 2,276,042 | 2,210,223 | 2,088,389 | 1,980,315 | 1,949,407 | 1,978,879 | 2,015,439 | 2,074,893 | 2,112,194 | 2,062,240 | 2,016,904 | 1,918,329 | 1,838,125 | 1,764,544 |
| Pretax margin | 28.07% | 25.97% | 25.90% | 26.36% | -5.99% | -5.65% | -5.88% | -7.43% | 25.91% | 24.77% | 26.12% | 29.24% | 32.09% | 34.47% | 35.78% | 35.52% | 36.48% | 36.56% | 37.37% | 38.18% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $753,634K ÷ $2,684,978K
= 28.07%
Air Lease Corporation's pretax margin has shown varying trends over the referenced periods. The pretax margin improved significantly from negative figures in the first quarter of 2022 to positive figures in the subsequent quarters. It reached its peak in the fourth quarter of 2021 at 38.18% before gradually declining in the following periods. Despite fluctuations, the pretax margin has generally remained at healthy levels above 20%, indicating the company's ability to generate profits before taxes relative to its revenue during these periods. The company may benefit from focusing on maintaining or improving this margin to sustain its profitability in the future.
Peer comparison
Dec 31, 2023