Air Lease Corporation (AL)
Return on total capital
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 1,462,598 | 1,341,165 | 1,274,032 | 1,201,603 | 407,413 | 397,496 | 385,922 | 349,253 | 1,054,031 | 999,154 | 1,009,052 | 1,065,235 | 1,121,436 | 1,181,688 | 1,217,517 | 1,186,733 | 1,169,696 | 1,112,223 | 1,074,491 | 1,037,290 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 7,160,040 | 6,961,050 | 6,852,650 | 6,744,590 | 6,646,360 | 6,528,430 | 6,439,630 | 6,369,580 | 7,008,570 | 6,583,780 | 6,501,720 | 6,428,210 | 6,072,340 | 5,977,320 | 5,869,800 | 5,736,370 | 5,623,540 | 5,462,170 | 5,299,880 | 5,173,820 |
| Return on total capital | 20.43% | 19.27% | 18.59% | 17.82% | 6.13% | 6.09% | 5.99% | 5.48% | 15.04% | 15.18% | 15.52% | 16.57% | 18.47% | 19.77% | 20.74% | 20.69% | 20.80% | 20.36% | 20.27% | 20.05% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,462,598K ÷ ($—K + $7,160,040K)
= 20.43%
Based on the data provided, the return on total capital for Air Lease Corporation has shown fluctuations over the past five years, with a general upward trend. The latest reported return on total capital as of December 31, 2023, stands at 20.43%, which reflects a healthy performance in generating profits from the company's invested capital.
The return on total capital was notably lower in the earlier periods, such as in December 2022 and September 2022, hovering around the 6% range. However, there has been a gradual improvement in this metric since then, indicating that the company has been able to enhance its efficiency in utilizing its capital to generate returns for its shareholders.
Overall, the trend suggests that Air Lease Corporation has been successful in increasing its return on total capital over the past few years, showcasing a positive trajectory in its financial performance and capital utilization strategies.
Peer comparison
Dec 31, 2023