Willis Lease Finance Corporation (WLFC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-990.1%

-$391.28

vs $43.96 price

Levered DCF

-$305.28

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.9

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	25.43×	38.99×	22.91×	505.8×	38,948.28×	85.37×	16.22×	14.2×
P/B	3.79×	7.41×	2.11×	2.66×	1.84×	1.32×	2.58×	2.14×
P/S	4.07×	7.15×	2.21×	3.45×	2.52×	1.89×	2.52×	1.76×
EV / EBITDA	13.28×	17.94×	11.48×	17.66×	14.71×	12.37×	9.42×	9.83×
Gross margin	65.7%	75.4%	69.6%	65.0%	61.5%	61.4%	63.6%	60.4%
Operating margin	32.3%	25.4%	15.3%	3.2%	3.0%	5.1%	19.6%	15.1%
Net margin	16.8%	19.1%	10.5%	1.7%	1.2%	3.4%	16.4%	12.4%
Current ratio	3.09×	3.85×	3.74×	4.26×	8.27×	2.12×	1.2×	3.2×
Debt / equity	3.74×	4.12×	4.11×	4.56×	4.76×	4.1×	3.14×	4.66×
Interest coverage	1.58×	1.38×	0.82×	0.15×	0.12×	0.23×	1.2×	0.82×
Dividend yield	0.5%	0.3%	0.4%	0.3%	0.5%	0.6%	0.3%	0.5%
Payout ratio	12.7%	13.1%	7.4%	60.1%	97.0%	33.4%	4.9%	7.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.7%	19.8%	10.0%	1.3%	0.9%	2.4%	16.7%	15.1%
Return on invested capital	3.9%	3.2%	1.6%	0.2%	0.1%	0.3%	3.4%	2.1%
Return on assets	2.8%	3.3%	1.7%	0.2%	0.1%	0.4%	3.4%	2.2%
Free cash flow yield	-8.8%	-13.4%	6.6%	-13.8%	-17.0%	-58.5%	-6.3%	-41.7%
Earnings yield	4.1%	2.7%	4.7%	0.5%	0.5%	1.8%	6.5%	7.0%
Enterprise value	$5.4B	$6.3B	$2.7B	$2.9B	$2.5B	$2.2B	$2.3B	$1.9B
Net debt / EBITDA	6.57×	6.4×	7.58×	11.14×	10.59×	9.25×	5.16×	6.72×
Cash conversion cycle (days)	-39	331	249	279	383	155	21	40