AerCap Posts Record $3.8 B Full-Year Net Income; Raises Dividend to $0.40
AerCap reported Q4 2025 net income of $633 million ($3.79/share) and full-year net income of $3.8 billion ($21.30/share), with adjusted net income at $660 million Q4 and $2.7 billion full year. The company sold $3.9 billion of assets yielding $819 million gains, purchased $5.4 billion of aircraft assets, increased its quarterly dividend to $0.40, and launched a $1 billion share repurchase.
1. Financial Results
AerCap reported GAAP net income of $633 million in Q4 2025 ($3.79 per share) and $3.8 billion for full-year 2025 ($21.30 per share). Adjusted net income reached $660 million in Q4 and $2.7 billion for the year, driving GAAP and adjusted returns on equity of 14% and 15%, respectively.
2. Asset Sales and Acquisitions
During 2025 AerCap sold $3.9 billion of aircraft assets, realizing $819 million in gains on sale (27% unlevered margin). The company reinvested $5.4 billion in new fleet assets and added 103 aircraft orders and options to its book.
3. Shareholder Returns
AerCap returned $2.6 billion to shareholders through repurchasing 22.1 million shares at an average $109.92 and raised its quarterly dividend from $0.35 to $0.40 per share. In December it initiated a new $1 billion share repurchase program.
4. 2026 Outlook
The company provided full-year 2026 adjusted EPS guidance of $12.00 to $13.00, excluding any gains on sale, signaling confidence in continued earnings growth and capital deployment opportunities.