Intrinsic value of Aircastle - AYR

Previous Close

$23.41

  Intrinsic Value

$5.84

stock screener

  Rating & Target

str. sell

-75%

Previous close

$23.41

 
Intrinsic value

$5.84

 
Up/down potential

-75%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as AYR.

We calculate the intrinsic value of AYR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -5.62
  17.90
  16.61
  15.45
  14.40
  13.46
  12.62
  11.86
  11.17
  10.55
  10.00
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
  5.75
  5.68
  5.61
Revenue, $m
  773
  911
  1,063
  1,227
  1,404
  1,593
  1,794
  2,006
  2,230
  2,466
  2,712
  2,970
  3,239
  3,518
  3,810
  4,113
  4,428
  4,755
  5,095
  5,448
  5,815
  6,197
  6,595
  7,008
  7,439
  7,887
  8,355
  8,842
  9,351
  9,881
  10,435
Variable operating expenses, $m
 
  562
  656
  757
  866
  983
  1,107
  1,238
  1,376
  1,521
  1,673
  1,832
  1,998
  2,171
  2,351
  2,538
  2,732
  2,934
  3,143
  3,361
  3,588
  3,824
  4,069
  4,324
  4,590
  4,867
  5,155
  5,456
  5,769
  6,097
  6,439
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  400
  562
  656
  757
  866
  983
  1,107
  1,238
  1,376
  1,521
  1,673
  1,832
  1,998
  2,171
  2,351
  2,538
  2,732
  2,934
  3,143
  3,361
  3,588
  3,824
  4,069
  4,324
  4,590
  4,867
  5,155
  5,456
  5,769
  6,097
  6,439
Operating income, $m
  373
  349
  407
  470
  538
  610
  687
  768
  854
  944
  1,039
  1,137
  1,240
  1,348
  1,459
  1,575
  1,696
  1,821
  1,951
  2,087
  2,227
  2,374
  2,526
  2,684
  2,849
  3,021
  3,200
  3,387
  3,581
  3,785
  3,997
EBITDA, $m
  678
  708
  826
  953
  1,090
  1,237
  1,393
  1,558
  1,732
  1,915
  2,107
  2,307
  2,516
  2,733
  2,959
  3,195
  3,439
  3,693
  3,957
  4,232
  4,517
  4,814
  5,123
  5,444
  5,778
  6,127
  6,490
  6,868
  7,263
  7,675
  8,106
Interest expense (income), $m
  225
  230
  278
  330
  388
  449
  515
  585
  659
  737
  819
  905
  995
  1,089
  1,186
  1,288
  1,393
  1,503
  1,617
  1,736
  1,859
  1,987
  2,120
  2,258
  2,403
  2,553
  2,709
  2,872
  3,042
  3,219
  3,404
Earnings before tax, $m
  157
  119
  129
  139
  150
  161
  172
  183
  195
  207
  219
  232
  245
  259
  273
  287
  302
  318
  334
  351
  369
  387
  406
  426
  447
  468
  491
  515
  540
  566
  593
Tax expense, $m
  13
  32
  35
  38
  40
  43
  46
  49
  53
  56
  59
  63
  66
  70
  74
  78
  82
  86
  90
  95
  100
  104
  110
  115
  121
  126
  133
  139
  146
  153
  160
Net income, $m
  151
  87
  94
  102
  109
  117
  125
  134
  142
  151
  160
  169
  179
  189
  199
  210
  221
  232
  244
  256
  269
  282
  296
  311
  326
  342
  358
  376
  394
  413
  433

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  456
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,245
  7,994
  9,322
  10,763
  12,313
  13,971
  15,733
  17,599
  19,564
  21,629
  23,791
  26,051
  28,408
  30,864
  33,419
  36,076
  38,838
  41,708
  44,691
  47,791
  51,013
  54,364
  57,849
  61,477
  65,253
  69,187
  73,287
  77,563
  82,023
  86,678
  91,538
Adjusted assets (=assets-cash), $m
  6,789
  7,994
  9,322
  10,763
  12,313
  13,971
  15,733
  17,599
  19,564
  21,629
  23,791
  26,051
  28,408
  30,864
  33,419
  36,076
  38,838
  41,708
  44,691
  47,791
  51,013
  54,364
  57,849
  61,477
  65,253
  69,187
  73,287
  77,563
  82,023
  86,678
  91,538
Revenue / Adjusted assets
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
Average production assets, $m
  6,057
  7,141
  8,328
  9,614
  10,999
  12,480
  14,055
  15,721
  17,477
  19,321
  21,253
  23,271
  25,377
  27,570
  29,853
  32,227
  34,694
  37,258
  39,922
  42,692
  45,570
  48,563
  51,677
  54,917
  58,291
  61,805
  65,468
  69,287
  73,271
  77,429
  81,771
Working capital, $m
  0
  -393
  -458
  -529
  -605
  -686
  -773
  -865
  -961
  -1,063
  -1,169
  -1,280
  -1,396
  -1,516
  -1,642
  -1,773
  -1,908
  -2,049
  -2,196
  -2,348
  -2,506
  -2,671
  -2,842
  -3,021
  -3,206
  -3,399
  -3,601
  -3,811
  -4,030
  -4,259
  -4,498
Total debt, $m
  4,629
  5,446
  6,480
  7,602
  8,810
  10,101
  11,474
  12,927
  14,459
  16,067
  17,751
  19,512
  21,348
  23,261
  25,251
  27,321
  29,473
  31,709
  34,032
  36,447
  38,957
  41,567
  44,283
  47,108
  50,050
  53,115
  56,309
  59,639
  63,114
  66,740
  70,526
Total liabilities, $m
  5,410
  6,228
  7,262
  8,384
  9,592
  10,883
  12,256
  13,709
  15,241
  16,849
  18,533
  20,294
  22,130
  24,043
  26,033
  28,103
  30,255
  32,491
  34,814
  37,229
  39,739
  42,349
  45,065
  47,890
  50,832
  53,897
  57,091
  60,421
  63,896
  67,522
  71,308
Total equity, $m
  1,834
  1,767
  2,060
  2,379
  2,721
  3,087
  3,477
  3,889
  4,324
  4,780
  5,258
  5,757
  6,278
  6,821
  7,386
  7,973
  8,583
  9,217
  9,877
  10,562
  11,274
  12,014
  12,785
  13,586
  14,421
  15,290
  16,197
  17,141
  18,127
  19,156
  20,230
Total liabilities and equity, $m
  7,244
  7,995
  9,322
  10,763
  12,313
  13,970
  15,733
  17,598
  19,565
  21,629
  23,791
  26,051
  28,408
  30,864
  33,419
  36,076
  38,838
  41,708
  44,691
  47,791
  51,013
  54,363
  57,850
  61,476
  65,253
  69,187
  73,288
  77,562
  82,023
  86,678
  91,538
Debt-to-equity ratio
  2.524
  3.080
  3.150
  3.200
  3.240
  3.270
  3.300
  3.320
  3.340
  3.360
  3.380
  3.390
  3.400
  3.410
  3.420
  3.430
  3.430
  3.440
  3.450
  3.450
  3.460
  3.460
  3.460
  3.470
  3.470
  3.470
  3.480
  3.480
  3.480
  3.480
  3.490
Adjusted equity ratio
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221
  0.221

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  151
  87
  94
  102
  109
  117
  125
  134
  142
  151
  160
  169
  179
  189
  199
  210
  221
  232
  244
  256
  269
  282
  296
  311
  326
  342
  358
  376
  394
  413
  433
Depreciation, amort., depletion, $m
  305
  359
  418
  483
  553
  627
  706
  790
  878
  971
  1,068
  1,169
  1,275
  1,385
  1,500
  1,619
  1,743
  1,872
  2,006
  2,145
  2,290
  2,440
  2,597
  2,760
  2,929
  3,106
  3,290
  3,482
  3,682
  3,891
  4,109
Funds from operations, $m
  467
  446
  513
  585
  662
  744
  832
  924
  1,021
  1,122
  1,228
  1,339
  1,454
  1,574
  1,699
  1,829
  1,964
  2,104
  2,250
  2,402
  2,559
  2,723
  2,893
  3,070
  3,255
  3,448
  3,648
  3,858
  4,076
  4,304
  4,542
Change in working capital, $m
  -1
  -60
  -65
  -71
  -76
  -81
  -87
  -92
  -97
  -101
  -106
  -111
  -116
  -121
  -126
  -131
  -136
  -141
  -147
  -152
  -158
  -165
  -171
  -178
  -186
  -193
  -201
  -210
  -219
  -229
  -239
Cash from operations, $m
  468
  506
  578
  656
  738
  826
  918
  1,015
  1,117
  1,223
  1,334
  1,450
  1,570
  1,695
  1,825
  1,960
  2,100
  2,245
  2,397
  2,554
  2,717
  2,887
  3,064
  3,249
  3,441
  3,641
  3,850
  4,068
  4,295
  4,533
  4,781
Maintenance CAPEX, $m
  0
  -304
  -359
  -418
  -483
  -553
  -627
  -706
  -790
  -878
  -971
  -1,068
  -1,169
  -1,275
  -1,385
  -1,500
  -1,619
  -1,743
  -1,872
  -2,006
  -2,145
  -2,290
  -2,440
  -2,597
  -2,760
  -2,929
  -3,106
  -3,290
  -3,482
  -3,682
  -3,891
New CAPEX, $m
  -1,331
  -1,084
  -1,186
  -1,287
  -1,385
  -1,481
  -1,575
  -1,666
  -1,756
  -1,844
  -1,932
  -2,019
  -2,106
  -2,193
  -2,283
  -2,374
  -2,467
  -2,564
  -2,664
  -2,769
  -2,879
  -2,993
  -3,114
  -3,240
  -3,374
  -3,514
  -3,663
  -3,819
  -3,984
  -4,158
  -4,342
Cash from investing activities, $m
  -646
  -1,388
  -1,545
  -1,705
  -1,868
  -2,034
  -2,202
  -2,372
  -2,546
  -2,722
  -2,903
  -3,087
  -3,275
  -3,468
  -3,668
  -3,874
  -4,086
  -4,307
  -4,536
  -4,775
  -5,024
  -5,283
  -5,554
  -5,837
  -6,134
  -6,443
  -6,769
  -7,109
  -7,466
  -7,840
  -8,233
Free cash flow, $m
  -178
  -883
  -967
  -1,049
  -1,130
  -1,208
  -1,283
  -1,357
  -1,429
  -1,499
  -1,568
  -1,637
  -1,705
  -1,774
  -1,843
  -1,914
  -1,987
  -2,062
  -2,140
  -2,221
  -2,307
  -2,396
  -2,490
  -2,588
  -2,693
  -2,803
  -2,919
  -3,041
  -3,171
  -3,308
  -3,452
Issuance/(repayment) of debt, $m
  465
  940
  1,034
  1,122
  1,208
  1,291
  1,373
  1,453
  1,531
  1,608
  1,685
  1,760
  1,836
  1,913
  1,990
  2,070
  2,152
  2,236
  2,324
  2,415
  2,510
  2,610
  2,715
  2,826
  2,942
  3,065
  3,194
  3,330
  3,474
  3,626
  3,786
Issuance/(repurchase) of shares, $m
  -37
  179
  199
  217
  233
  249
  264
  278
  292
  305
  318
  330
  342
  354
  366
  377
  390
  402
  415
  429
  443
  458
  474
  491
  509
  528
  548
  569
  592
  616
  641
Cash from financing (excl. dividends), $m  
  555
  1,119
  1,233
  1,339
  1,441
  1,540
  1,637
  1,731
  1,823
  1,913
  2,003
  2,090
  2,178
  2,267
  2,356
  2,447
  2,542
  2,638
  2,739
  2,844
  2,953
  3,068
  3,189
  3,317
  3,451
  3,593
  3,742
  3,899
  4,066
  4,242
  4,427
Total cash flow (excl. dividends), $m
  377
  235
  267
  289
  311
  333
  354
  374
  395
  414
  434
  454
  473
  493
  513
  533
  554
  576
  599
  622
  647
  673
  700
  728
  758
  790
  823
  858
  895
  934
  976
Retained Cash Flow (-), $m
  -54
  -266
  -293
  -318
  -343
  -366
  -390
  -412
  -434
  -456
  -478
  -499
  -521
  -543
  -565
  -587
  -610
  -634
  -659
  -685
  -712
  -741
  -770
  -802
  -835
  -869
  -906
  -945
  -986
  -1,029
  -1,074
Prev. year cash balance distribution, $m
 
  333
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  302
  -27
  -29
  -31
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -87
  -90
  -94
  -99
Discount rate, %
 
  10.20
  10.71
  11.25
  11.81
  12.40
  13.02
  13.67
  14.35
  15.07
  15.82
  16.61
  17.45
  18.32
  19.23
  20.20
  21.21
  22.27
  23.38
  24.55
  25.77
  27.06
  28.42
  29.84
  31.33
  32.90
  34.54
  36.27
  38.08
  39.99
  41.98
PV of cash for distribution, $m
 
  274
  -22
  -21
  -20
  -19
  -17
  -15
  -14
  -12
  -10
  -8
  -7
  -6
  -4
  -3
  -3
  -2
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  89.4
  80.3
  72.7
  66.2
  60.7
  55.9
  51.8
  48.2
  45.0
  42.2
  39.7
  37.5
  35.5
  33.7
  32.1
  30.6
  29.2
  28.0
  26.8
  25.7
  24.7
  23.8
  22.9
  22.1
  21.3
  20.6
  19.9
  19.2
  18.6
  18.0

Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries. The Company originates acquisitions and sales through relationships with airlines, other aircraft lessors, financial institutions and brokers, as well as other sources. As of February 7, 2017, the Company had lease commitments or letters of intent to lease or sell 16 aircrafts. The Company's aircraft portfolio includes passenger wide-body, passenger narrow-body and freighter aircrafts. The Company's portfolio spans across various regions, such as the Middle East and Africa, South America, North America, Asia and Pacific, and Europe.

FINANCIAL RATIOS  of  Aircastle (AYR)

Valuation Ratios
P/E Ratio 12.2
Price to Sales 2.4
Price to Book 1
Price to Tangible Book
Price to Cash Flow 3.9
Price to Free Cash Flow -2.1
Growth Rates
Sales Growth Rate -5.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0.8%
Cap. Spend. - 3 Yr. Gr. Rate 1%
Financial Strength
Quick Ratio 4
Current Ratio NaN
LT Debt to Equity 245.7%
Total Debt to Equity 252.4%
Interest Coverage 2
Management Effectiveness
Return On Assets 5.2%
Ret/ On Assets - 3 Yr. Avg. 4.8%
Return On Total Capital 2.4%
Ret/ On T. Cap. - 3 Yr. Avg. 2.1%
Return On Equity 8.4%
Return On Equity - 3 Yr. Avg. 7.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 88.9%
EBITDA Margin - 3 Yr. Avg. 80.7%
Operating Margin 48.3%
Oper. Margin - 3 Yr. Avg. 42.2%
Pre-Tax Margin 20.3%
Pre-Tax Margin - 3 Yr. Avg. 16.5%
Net Profit Margin 19.5%
Net Profit Margin - 3 Yr. Avg. 15.6%
Effective Tax Rate 8.3%
Eff/ Tax Rate - 3 Yr. Avg. 10.3%
Payout Ratio 51%

AYR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AYR stock intrinsic value calculation we used $773 million for the last fiscal year's total revenue generated by Aircastle. The default revenue input number comes from 2016 income statement of Aircastle. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AYR stock valuation model: a) initial revenue growth rate of 17.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.2%, whose default value for AYR is calculated based on our internal credit rating of Aircastle, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Aircastle.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AYR stock the variable cost ratio is equal to 61.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AYR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.1% for Aircastle.

Corporate tax rate of 27% is the nominal tax rate for Aircastle. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AYR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AYR are equal to 783.6%.

Life of production assets of 19.9 years is the average useful life of capital assets used in Aircastle operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AYR is equal to -43.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1834 million for Aircastle - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 78.523 million for Aircastle is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Aircastle at the current share price and the inputted number of shares is $1.8 billion.

RELATED COMPANIES Price Int.Val. Rating
AL Air Lease 41.61 11.77  str.sell
FLY Fly Leasing AD 13.45 4.91  str.sell
AER AerCap Holding 50.48 34.56  sell
ACY AeroCentury 14.29 15.66  hold
WLFC Willis Lease F 24.76 8.39  str.sell
GATX GATX 57.57 32.99  sell
FTAI Fortress Trans 18.10 3.09  str.sell
CAI CAI Internatio 35.23 5.74  str.sell

COMPANY NEWS

▶ ETFs with exposure to Aircastle Ltd. : November 9, 2017   [Nov-09-17 11:59AM  Capital Cube]
▶ Aircastle tops Street 3Q forecasts   [09:11AM  Associated Press]
▶ Aircastle Limited to Host Earnings Call   [09:10AM  ACCESSWIRE]
▶ ETFs with exposure to Aircastle Ltd. : October 25, 2017   [Oct-25-17 09:51AM  Capital Cube]
▶ Aircastle Annouces Relocation of Stamford Office   [Oct-23-17 08:00AM  PR Newswire]
▶ 3 Stocks Warren Buffett Can't Buy, but You Can   [Oct-14-17 03:16PM  Motley Fool]
▶ ETFs with exposure to Aircastle Ltd. : October 10, 2017   [Oct-10-17 11:01AM  Capital Cube]
▶ ETFs with exposure to Aircastle Ltd. : September 20, 2017   [Sep-20-17 05:12PM  Capital Cube]
▶ ETFs with exposure to Aircastle Ltd. : September 7, 2017   [Sep-07-17 12:41PM  Capital Cube]
▶ Aircastle reports 2Q loss   [Aug-08-17 10:23PM  Associated Press]
▶ Five Lessons For Aerospace From Jet Leasing Earnings   [Aug-04-17 10:38AM  Barrons.com]
▶ Aircastle Ltd. Value Analysis (NYSE:AYR) : August 4, 2017   [Aug-03-17 09:58PM  Capital Cube]
▶ ETFs with exposure to Aircastle Ltd. : August 1, 2017   [Aug-01-17 04:15PM  Capital Cube]
▶ ETFs with exposure to Aircastle Ltd. : July 10, 2017   [Jul-10-17 02:00PM  Capital Cube]
▶ ETFs with exposure to Aircastle Ltd. : June 9, 2017   [Jun-09-17 01:17PM  Capital Cube]
▶ Aircastle misses 1Q profit forecasts   [08:49AM  Associated Press]
▶ Aircastle Ltd. Value Analysis (NYSE:AYR) : April 28, 2017   [Apr-28-17 04:38PM  Capital Cube]
▶ Top Ranked Value Stocks to Buy for April 10th   [Apr-10-17 10:14AM  Zacks]
▶ Top Ranked Income Stocks to Buy for March 22nd   [Mar-22-17 11:23AM  Zacks]
▶ 3 Dividend Stocks To Buy - And 2 To Sell Now   [Feb-06-17 09:14AM  at Forbes]
▶ 4 Top Small-Cap Stocks to Buy This Winter   [09:20AM  at Motley Fool]
▶ Aircastle Enhances Airline Coverage Team   [Dec-20-16 04:15PM  PR Newswire]
▶ Is Aircastle Limited (AYR) A Good Stock To Buy?   [10:04AM  at Insider Monkey]
Financial statements of AYR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.