Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026
Ftai Aviation Ltd. (FTAI)
A forensic read on Ftai Aviation Ltd. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
9.5
Distress distance
Watch
Earnings quality
5
Forensic signals
45.8
P / E (ttm)
149.9%
ROE
$22.4B
Market cap
0.90%
Dividend yield
44.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Ftai Aviation Ltd. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 9.5, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
-0.49×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, operating cash flow was -0.49× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
236d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 192 to 236 FY2024→FY2025 (against cost of goods sold; inventory +117% vs +63% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
+1.5%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +4% over the last 3 years to FY2025 (+1.5%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.
FCF ($338M)
FY2025
Shareholder returns.Returned $128M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($338M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
13.6%
FY2025
Key fundamentals
Latest Revenue$2.51B
Revenue Growth YoY+44.5%
Revenue CAGR (3yr)+52.4%
Net Margin20.0%
Free Cash Flow-$338.5M
Return on Equity149.9%
Debt / Equity10.32x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Ftai Aviation Ltd.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Return on invested capital.Return on invested capital is 13.6% in the latest fiscal year and rising from 2% — a modest positive spread over its ~10% cost of capital — growth adds value, though not dramatically.