Aercap Holdings N.V. cash flow statement

In fiscal 2025, Aercap Holdings N.V.'s operations generated $5.39bn of cash; it spent $0 on capital projects, leaving free cash flow of $5.39bn. It returned $192m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Aercap Holdings N.V.: cash flow statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	426	675	638	657	695	2,314	3,360	3,381	3,140	2,840	3,106	2,130	3,694	5,171	5,261	5,437	5,393
Depreciation and amortisation	194	308	361	357	338	1,282	1,843	1,791	1,727	1,679	1,676	1,645	1,738	2,390	2,481	2,580	2,647
Stock-based pay	4	3	6	7	9	68	100	103	108	95	69	69	96	103	97	111	166
Capital spending	1,264	1,940	763	1,039	1,783	0	0	0	0	0	0	0	0	0	0	0	0
Free cash flow	−839	−1,265	−125	−382	−1,088	2,314	3,360	3,381	3,140	2,840	3,106	2,130	3,694	5,171	5,261	5,437	5,393
Free cash flow after stock pay	−842	−1,268	−131	−389	−1,097	2,246	3,260	3,278	3,032	2,745	3,036	2,061	3,598	5,068	5,164	5,326	5,227
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	140	192
Share buybacks	—	—	100	320	—	—	—	—	—	—	—	—	—	—	—	—	—
Shares issued	—	110	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Aercap Holdings N.V.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Aercap Holdings N.V.