Willis Lease Finance Posts 28.3% Revenue Gain to $730.2M, Adjusted EBITDA Up 16.6%
Willis Lease Finance reported record 2025 revenue of $730.2 million, up 28.3%, and pre-tax income of $160.6 million, up 5.2%, driven by a 22.4% rise in lease rent revenue to $291.6 million and a 252.3% jump in spare parts and equipment sales to $95.5 million. Adjusted EBITDA climbed 16.6% to $459.1 million while average portfolio utilization reached 84.9% and gains on equipment sales rose 19.9% to $54.0 million.
1. Record 2025 Financial Performance
Willis Lease Finance achieved record annual total revenue of $730.2 million in 2025, a 28.3% increase over 2024, and delivered pre-tax income of $160.6 million, up 5.2%, while net income attributable to common shareholders reached $108.1 million, a 3.5% rise year-over-year.
2. Revenue by Segment
Lease rent revenue climbed 22.4% to $291.6 million, and maintenance reserve revenue rose 8.4% to $232.0 million. Spare parts and equipment sales skyrocketed 252.3% to $95.5 million, and the gain on sale of leased equipment increased 19.9% to $54.0 million, reflecting strong demand for surplus material and portfolio optimization.
3. Operating Metrics and Strategic Initiatives
Adjusted EBITDA grew 16.6% to $459.1 million, supported by average portfolio utilization of 84.9% versus 82.9% in 2024. The book value of lease assets stood at $3.6145 billion as of December 31, 2025, underpinned by strategic capital markets activities aimed at fueling long-term growth.