Intrinsic value of Willis Lease Finance - WLFC

Previous Close

$26.66

  Intrinsic Value

$8.29

stock screener

  Rating & Target

str. sell

-69%

Previous close

$26.66

 
Intrinsic value

$8.29

 
Up/down potential

-69%

 
Rating

str. sell

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

We calculate the intrinsic value of WLFC 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  5.03
  32.70
  29.93
  27.44
  25.19
  23.17
  21.36
  19.72
  18.25
  16.92
  15.73
  14.66
  13.69
  12.82
  12.04
  11.34
  10.70
  10.13
  9.62
  9.16
  8.74
  8.37
  8.03
  7.73
  7.46
  7.21
  6.99
  6.79
  6.61
  6.45
  6.30
Revenue, $m
  209
  277
  360
  459
  575
  708
  859
  1,029
  1,217
  1,423
  1,646
  1,888
  2,146
  2,421
  2,713
  3,020
  3,344
  3,682
  4,037
  4,406
  4,792
  5,192
  5,609
  6,043
  6,493
  6,962
  7,448
  7,954
  8,480
  9,027
  9,596
Variable operating expenses, $m
 
  259
  336
  428
  536
  661
  802
  960
  1,135
  1,327
  1,536
  1,761
  2,002
  2,259
  2,531
  2,818
  3,120
  3,436
  3,766
  4,111
  4,471
  4,845
  5,234
  5,638
  6,058
  6,495
  6,949
  7,421
  7,912
  8,422
  8,953
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
  185
  259
  336
  428
  536
  661
  802
  960
  1,135
  1,327
  1,536
  1,761
  2,002
  2,259
  2,531
  2,818
  3,120
  3,436
  3,766
  4,111
  4,471
  4,845
  5,234
  5,638
  6,058
  6,495
  6,949
  7,421
  7,912
  8,422
  8,953
Operating income, $m
  24
  19
  24
  31
  39
  47
  58
  69
  82
  95
  110
  126
  144
  162
  182
  202
  224
  247
  270
  295
  321
  348
  376
  405
  435
  466
  499
  533
  568
  605
  643
EBITDA, $m
  90
  106
  138
  175
  220
  270
  328
  393
  465
  543
  629
  721
  820
  925
  1,036
  1,154
  1,277
  1,406
  1,542
  1,683
  1,830
  1,983
  2,143
  2,308
  2,480
  2,659
  2,845
  3,038
  3,239
  3,448
  3,665
Interest expense (income), $m
  37
  38
  53
  72
  94
  121
  151
  185
  223
  266
  312
  363
  417
  476
  538
  604
  673
  747
  823
  903
  987
  1,074
  1,164
  1,259
  1,357
  1,459
  1,564
  1,674
  1,789
  1,908
  2,031
Earnings before tax, $m
  24
  -19
  -29
  -41
  -56
  -73
  -93
  -116
  -142
  -170
  -202
  -236
  -274
  -314
  -356
  -402
  -449
  -500
  -553
  -608
  -666
  -726
  -789
  -854
  -922
  -992
  -1,065
  -1,141
  -1,221
  -1,303
  -1,388
Tax expense, $m
  10
  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
Net income, $m
  14
  -19
  -29
  -41
  -56
  -73
  -93
  -116
  -142
  -170
  -202
  -236
  -274
  -314
  -356
  -402
  -449
  -500
  -553
  -608
  -666
  -726
  -789
  -854
  -922
  -992
  -1,065
  -1,141
  -1,221
  -1,303
  -1,388

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  10
  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
  1,338
  1,767
  2,295
  2,925
  3,662
  4,510
  5,474
  6,553
  7,749
  9,061
  10,486
  12,023
  13,669
  15,422
  17,279
  19,238
  21,297
  23,455
  25,711
  28,066
  30,519
  33,073
  35,729
  38,490
  41,360
  44,342
  47,441
  50,662
  54,011
  57,494
  61,119
Adjusted assets (=assets-cash), $m
  1,328
  1,767
  2,295
  2,925
  3,662
  4,510
  5,474
  6,553
  7,749
  9,061
  10,486
  12,023
  13,669
  15,422
  17,279
  19,238
  21,297
  23,455
  25,711
  28,066
  30,519
  33,073
  35,729
  38,490
  41,360
  44,342
  47,441
  50,662
  54,011
  57,494
  61,119
Revenue / Adjusted assets
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
Average production assets, $m
  1,159
  1,537
  1,997
  2,545
  3,187
  3,925
  4,764
  5,703
  6,744
  7,885
  9,125
  10,463
  11,896
  13,421
  15,037
  16,742
  18,534
  20,412
  22,375
  24,424
  26,560
  28,782
  31,093
  33,496
  35,993
  38,588
  41,285
  44,088
  47,003
  50,034
  53,189
Working capital, $m
  0
  -13
  -17
  -22
  -28
  -34
  -41
  -49
  -58
  -68
  -79
  -91
  -103
  -116
  -130
  -145
  -160
  -177
  -194
  -212
  -230
  -249
  -269
  -290
  -312
  -334
  -358
  -382
  -407
  -433
  -461
Total debt, $m
  900
  1,271
  1,717
  2,250
  2,872
  3,589
  4,403
  5,315
  6,326
  7,434
  8,639
  9,937
  11,329
  12,810
  14,379
  16,034
  17,774
  19,598
  21,504
  23,494
  25,567
  27,725
  29,969
  32,302
  34,727
  37,247
  39,865
  42,587
  45,417
  48,361
  51,424
Total liabilities, $m
  1,122
  1,493
  1,939
  2,472
  3,094
  3,811
  4,625
  5,537
  6,548
  7,656
  8,861
  10,159
  11,551
  13,032
  14,601
  16,256
  17,996
  19,820
  21,726
  23,716
  25,789
  27,947
  30,191
  32,524
  34,949
  37,469
  40,087
  42,809
  45,639
  48,583
  51,646
Total equity, $m
  216
  274
  356
  453
  568
  699
  848
  1,016
  1,201
  1,404
  1,625
  1,864
  2,119
  2,390
  2,678
  2,982
  3,301
  3,636
  3,985
  4,350
  4,731
  5,126
  5,538
  5,966
  6,411
  6,873
  7,353
  7,853
  8,372
  8,912
  9,473
Total liabilities and equity, $m
  1,338
  1,767
  2,295
  2,925
  3,662
  4,510
  5,473
  6,553
  7,749
  9,060
  10,486
  12,023
  13,670
  15,422
  17,279
  19,238
  21,297
  23,456
  25,711
  28,066
  30,520
  33,073
  35,729
  38,490
  41,360
  44,342
  47,440
  50,662
  54,011
  57,495
  61,119
Debt-to-equity ratio
  4.167
  4.640
  4.830
  4.960
  5.060
  5.130
  5.190
  5.230
  5.270
  5.290
  5.320
  5.330
  5.350
  5.360
  5.370
  5.380
  5.380
  5.390
  5.400
  5.400
  5.400
  5.410
  5.410
  5.410
  5.420
  5.420
  5.420
  5.420
  5.430
  5.430
  5.430
Adjusted equity ratio
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  14
  -19
  -29
  -41
  -56
  -73
  -93
  -116
  -142
  -170
  -202
  -236
  -274
  -314
  -356
  -402
  -449
  -500
  -553
  -608
  -666
  -726
  -789
  -854
  -922
  -992
  -1,065
  -1,141
  -1,221
  -1,303
  -1,388
Depreciation, amort., depletion, $m
  66
  87
  113
  145
  181
  223
  271
  324
  383
  448
  518
  594
  676
  763
  854
  951
  1,053
  1,160
  1,271
  1,388
  1,509
  1,635
  1,767
  1,903
  2,045
  2,193
  2,346
  2,505
  2,671
  2,843
  3,022
Funds from operations, $m
  101
  68
  84
  103
  125
  150
  177
  208
  241
  278
  317
  358
  402
  449
  498
  550
  604
  660
  719
  780
  843
  909
  978
  1,049
  1,123
  1,200
  1,280
  1,364
  1,450
  1,540
  1,634
Change in working capital, $m
  0
  -3
  -4
  -5
  -6
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
Cash from operations, $m
  101
  71
  88
  108
  131
  156
  185
  216
  250
  288
  327
  370
  415
  462
  512
  564
  619
  676
  736
  798
  862
  929
  998
  1,070
  1,145
  1,223
  1,304
  1,388
  1,475
  1,566
  1,661
Maintenance CAPEX, $m
  0
  -66
  -87
  -113
  -145
  -181
  -223
  -271
  -324
  -383
  -448
  -518
  -594
  -676
  -763
  -854
  -951
  -1,053
  -1,160
  -1,271
  -1,388
  -1,509
  -1,635
  -1,767
  -1,903
  -2,045
  -2,193
  -2,346
  -2,505
  -2,671
  -2,843
New CAPEX, $m
  -180
  -379
  -460
  -548
  -641
  -738
  -838
  -939
  -1,041
  -1,141
  -1,240
  -1,338
  -1,433
  -1,525
  -1,616
  -1,705
  -1,792
  -1,878
  -1,964
  -2,049
  -2,135
  -2,222
  -2,311
  -2,403
  -2,497
  -2,595
  -2,697
  -2,803
  -2,915
  -3,032
  -3,155
Cash from investing activities, $m
  -123
  -445
  -547
  -661
  -786
  -919
  -1,061
  -1,210
  -1,365
  -1,524
  -1,688
  -1,856
  -2,027
  -2,201
  -2,379
  -2,559
  -2,743
  -2,931
  -3,124
  -3,320
  -3,523
  -3,731
  -3,946
  -4,170
  -4,400
  -4,640
  -4,890
  -5,149
  -5,420
  -5,703
  -5,998
Free cash flow, $m
  -22
  -373
  -459
  -554
  -655
  -763
  -877
  -994
  -1,114
  -1,237
  -1,361
  -1,486
  -1,612
  -1,739
  -1,866
  -1,995
  -2,124
  -2,255
  -2,388
  -2,523
  -2,661
  -2,803
  -2,949
  -3,099
  -3,255
  -3,417
  -3,586
  -3,761
  -3,944
  -4,136
  -4,336
Issuance/(repayment) of debt, $m
  35
  371
  447
  532
  623
  717
  814
  912
  1,011
  1,108
  1,204
  1,299
  1,391
  1,481
  1,569
  1,655
  1,740
  1,824
  1,907
  1,990
  2,073
  2,158
  2,244
  2,333
  2,425
  2,520
  2,619
  2,722
  2,830
  2,944
  3,063
Issuance/(repurchase) of shares, $m
  -9
  87
  111
  139
  170
  205
  242
  283
  327
  374
  423
  475
  529
  585
  644
  705
  769
  834
  902
  973
  1,046
  1,122
  1,200
  1,282
  1,366
  1,454
  1,546
  1,641
  1,740
  1,843
  1,950
Cash from financing (excl. dividends), $m  
  23
  458
  558
  671
  793
  922
  1,056
  1,195
  1,338
  1,482
  1,627
  1,774
  1,920
  2,066
  2,213
  2,360
  2,509
  2,658
  2,809
  2,963
  3,119
  3,280
  3,444
  3,615
  3,791
  3,974
  4,165
  4,363
  4,570
  4,787
  5,013
Total cash flow (excl. dividends), $m
  0
  85
  99
  118
  138
  158
  180
  202
  223
  245
  266
  287
  307
  327
  347
  366
  384
  403
  421
  440
  458
  477
  496
  516
  536
  557
  579
  601
  625
  650
  677
Retained Cash Flow (-), $m
  -7
  -87
  -111
  -139
  -170
  -205
  -242
  -283
  -327
  -374
  -423
  -475
  -529
  -585
  -644
  -705
  -769
  -834
  -902
  -973
  -1,046
  -1,122
  -1,200
  -1,282
  -1,366
  -1,454
  -1,546
  -1,641
  -1,740
  -1,843
  -1,950
Prev. year cash balance distribution, $m
 
  10
  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
 
  7
  -12
  -21
  -33
  -46
  -63
  -82
  -104
  -129
  -157
  -188
  -221
  -258
  -297
  -339
  -384
  -431
  -481
  -533
  -588
  -645
  -704
  -766
  -831
  -897
  -967
  -1,039
  -1,114
  -1,192
  -1,273
Discount rate, %
 
  11.90
  12.50
  13.12
  13.78
  14.46
  15.19
  15.95
  16.74
  17.58
  18.46
  19.38
  20.35
  21.37
  22.44
  23.56
  24.74
  25.98
  27.28
  28.64
  30.07
  31.57
  33.15
  34.81
  36.55
  38.38
  40.30
  42.31
  44.43
  46.65
  48.98
PV of cash for distribution, $m
 
  7
  -10
  -15
  -19
  -24
  -27
  -29
  -30
  -30
  -29
  -27
  -24
  -21
  -17
  -14
  -11
  -9
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  65.6
  43.6
  29.3
  20.0
  13.8
  9.6
  6.8
  4.9
  3.5
  2.6
  1.9
  1.4
  1.0
  0.8
  0.6
  0.4
  0.3
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Willis Lease Finance Corporation along with its subsidiaries is a lessor of commercial aircraft engines. The Company operates through two business segments, such as Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines and other aircraft equipment, and the selective purchase and resale of commercial aircraft engines and other aircraft equipment. The Spare Parts Sales segment involves the purchase and resale of after-market engine and airframe parts, whole engines, engine modules and portable aircraft components, and leasing of engines destined for disassembly and sale of parts. Its lease portfolio consists of approximately 200 engines and related equipment, 10 aircrafts and five spare engine parts packages. The Company's business activities also include equipment leasing and spare parts sales.

FINANCIAL RATIOS  of  Willis Lease Finance (WLFC)

Valuation Ratios
P/E Ratio 12.2
Price to Sales 0.8
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 1.7
Price to Free Cash Flow -2.2
Growth Rates
Sales Growth Rate 5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.3%
Cap. Spend. - 3 Yr. Gr. Rate 5.6%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 416.7%
Total Debt to Equity 416.7%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.7%
Ret/ On Assets - 3 Yr. Avg. 2.2%
Return On Total Capital 1.3%
Ret/ On T. Cap. - 3 Yr. Avg. 0.8%
Return On Equity 6.6%
Return On Equity - 3 Yr. Avg. 4.2%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 93.8%
Gross Margin - 3 Yr. Avg. 93.6%
EBITDA Margin 60.8%
EBITDA Margin - 3 Yr. Avg. 61%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 8.1%
Pre-Tax Margin 11.5%
Pre-Tax Margin - 3 Yr. Avg. 8.3%
Net Profit Margin 6.7%
Net Profit Margin - 3 Yr. Avg. 4.6%
Effective Tax Rate 41.7%
Eff/ Tax Rate - 3 Yr. Avg. 45.7%
Payout Ratio 0%

WLFC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WLFC stock intrinsic value calculation we used $209 million for the last fiscal year's total revenue generated by Willis Lease Finance. The default revenue input number comes from 2016 income statement of Willis Lease Finance. 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 WLFC stock valuation model: a) initial revenue growth rate of 32.7% 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 11.9%, whose default value for WLFC is calculated based on our internal credit rating of Willis Lease Finance, 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 Willis Lease Finance.
    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 WLFC stock the variable cost ratio is equal to 93.3%.

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 WLFC 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 4.2% for Willis Lease Finance.

Corporate tax rate of 27% is the nominal tax rate for Willis Lease Finance. 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 WLFC 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 WLFC are equal to 554.3%.

Life of production assets of 17.6 years is the average useful life of capital assets used in Willis Lease Finance 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 WLFC is equal to -4.8%. 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 - $216 million for Willis Lease Finance - 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 6.514 million for Willis Lease Finance 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 Willis Lease Finance at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
GATX GATX 68.26 33.00  sell
ACY AeroCentury 15.31 12.56  hold
AL Air Lease 48.71 14.42  str.sell
AYR Aircastle 24.26 5.77  str.sell
GE General Electr 16.26 46.28  str.buy
AER AerCap Holding 54.11 35.50  sell
FLY Fly Leasing AD 13.07 5.14  str.sell
UTX United Technol 135.90 194.86  str.buy
FTAI Fortress Trans 17.95 3.09  str.sell

COMPANY NEWS

▶ Willis Lease posts 3Q profit   [Nov-07-17 08:19AM  Associated Press]
▶ Willis Lease posts 2Q profit   [Aug-08-17 02:04PM  Associated Press]
▶ Willis Lease posts 1Q profit   [May-08-17 09:10AM  Associated Press]
▶ Willis Lease posts 4Q profit   [Mar-10-17 04:50PM  Associated Press]
▶ How GigPeak Inc (GIG) Compares To Its Peers   [Dec-16-16 11:15PM  Insider Monkey]
▶ CFO Moves: Phoenix Cos., Willis Lease Finance   [Jan-22-16 05:41PM  at The Wall Street Journal]
▶ Brad Forsyth to Resign as Willis Lease CFO   [06:00AM  GlobeNewswire]
▶ Willis Lease Finance to Promote Brian Hole to President   [Jan-18-16 11:00AM  GlobeNewswire]
▶ 10-Q for Willis Lease Finance Corp.   [Aug-08  08:10PM  at Company Spotlight]
▶ 10-Q for Willis Lease Finance Corp.   [May-10  08:11PM  at Company Spotlight]
▶ 10-K for Willis Lease Finance Corp.   [May-04  08:12PM  at Company Spotlight]
Financial statements of WLFC
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

ASSET ALLOCATION

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

Copyright © X-FIN.com 2005-2018. All rigths reserved.