Filing Flows › Willis Lease Finance (WLFC) › Q4 2025
Willis Lease Finance (WLFC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 10, 2026
Willis Lease Finance (WLFC) reported revenue of $194M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +6% from the quarter before. Operating margin was 7.3%, net earnings $12.2M (6.3% of revenue).
Willis Lease Finance, Q4 2025: revenue $194M (+27% year over year), operating margin 7.3%, net earnings $12.2M, operating cash flow $74.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $194M | +6% | +27% |
| Operating profit | $14.1M | -63% | -52% |
| Net earnings | $12.2M | -50% | -42% |
| Operating cash flow | $74.2M | +16% | +9% |
| Free cash flow | $66.2M | +15% | +20% |
What changed
Revenue was $193.6M in Q4 2025, up 27% year over year and up 6% from the previous quarter.
Operating profit was $14.1M, a 7.3% margin (down 12.0 points year over year). Operating profit fell $15.3M even though revenue rose $40.8M versus a year earlier, so costs grew faster than sales. Total costs grew 45% against revenue growth of 27%. The fastest-growing cost line was Sales & marketing (+621%). Net earnings were $12.2M, down 42% year over year. The effective tax rate was 31.7%. Non-operating items added $3.7M, 21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $74.2M (up 9% year over year), 608% of net earnings. Non-cash charges added back $30.3M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items added $22.0M. Capital expenditures of $7.9M left free cash flow of $66.2M.
Questions
What was Willis Lease Finance's revenue in the fourth quarter 2025?
Willis Lease Finance (WLFC) reported revenue of $194M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +6% from the quarter before.
Was Willis Lease Finance profitable in the fourth quarter 2025?
Operating profit was $14.1M (7.3% of revenue) and net earnings $12.2M.