Definitive Analysis
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Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Air Lease Corporation (AL)

Company Dividend Discount ModelIndustry: Rental & Leasing ServicesSector: Industrials

Valuation Snapshot

Stable Growth$180.15 - $399.79$259.86
Multi-Stage$128.03 - $139.94$133.88
Blended Fair Value$196.87
Current Price$63.65
Upside209.30%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.01%22.54%0.830.790.740.650.610.520.370.280.180.15
YoY Growth--5.28%6.65%14.04%7.07%17.50%39.61%34.36%50.49%25.30%33.99%
Dividend Yield--1.73%1.55%1.89%1.46%1.24%2.34%1.05%0.65%0.47%0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,020.38
(-) Cash Dividends Paid (M)97.07
(=) Cash Retained (M)923.31
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)204.08127.5576.53
Cash Retained (M)923.31923.31923.31
(-) Cash Required (M)-204.08-127.55-76.53
(=) Excess Retained (M)719.23795.76846.78
(/) Shares Outstanding (M)112.13112.13112.13
(=) Excess Retained per Share6.417.107.55
LTM Dividend per Share0.870.870.87
(+) Excess Retained per Share6.417.107.55
(=) Adjusted Dividend7.287.968.42
WACC / Discount Rate9.76%9.76%9.76%
Growth Rate5.50%6.50%7.50%
Fair Value$180.15$259.86$399.79
Upside / Downside183.03%308.26%528.11%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,020.381,086.701,157.341,232.561,312.681,398.001,439.94
Payout Ratio9.51%25.61%41.71%57.81%73.90%90.00%92.50%
Projected Dividends (M)97.07278.31482.70712.49970.101,258.201,331.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.76%9.76%9.76%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)251.17253.55255.93
Year 2 PV (M)393.16400.65408.21
Year 3 PV (M)523.73538.77554.09
Year 4 PV (M)643.57668.32693.78
Year 5 PV (M)753.31789.70827.48
PV of Terminal Value (M)11,790.8512,360.3512,951.65
Equity Value (M)14,355.8115,011.3515,691.14
Shares Outstanding (M)112.13112.13112.13
Fair Value$128.03$133.88$139.94
Upside / Downside101.15%110.34%119.86%

High-Yield Dividend Screener

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