Willis Lease Finance Corp. (WLFC) intrinsic value & 10-year financials
Willis Lease Finance Corp. (WLFC) has a Graham intrinsic value of $509.53 per share. At $37.61 on Oct 17, 2026, the stock trades 93% below that value. Over the last 10 fiscal years revenue grew 12.3% a year to $569.2M, with an average return on invested capital of 1.8%.
- Graham intrinsic value
- $509.53
- Share price (Oct 17, 2026)
- $37.61
- Price vs Graham value
- 93% below
- Market cap
- $255.9M
- Revenue (FY2024)
- $569.2M
- Revenue growth (10-yr CAGR)
- 12.3%
- ROIC (10-yr avg)
- 1.8%
- Free cash flow (FY2024)
- $268.8M
WLFC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $569.2M | $108.6M | $15.34 | $268.8M | 25.4% | 4.1% |
| FY2023 | $418.6M | $43.8M | $6.23 | $224.6M | 15.3% | 1.9% |
| FY2022 | $311.9M | $5.4M | $0.33 | $137.8M | 3.2% | 0.2% |
| FY2021 | $274.2M | $3.4M | $0.00 | $88.5M | 3.0% | 0.2% |
| FY2020 | $288.7M | $9.7M | $1.05 | $90.5M | 5.1% | 0.5% |
| FY2019 | $109.0M | $66.9M | $10.50 | $224.0M | 73.7% | 3.8% |
| FY2018 | $87.0M | $43.2M | $6.60 | $185.2M | 60.3% | 2.7% |
| FY2017 | $80.2M | $62.2M | $9.69 | $124.5M | 36.0% | 2.4% |
| FY2016 | $57.1M | $14.1M | $2.05 | $89.4M | 38.8% | 1.2% |
| FY2015 | $199.6M | $7.4M | $0.92 | $93.8M | 6.5% | 0.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
WILLIS LEASE FINANCE CORP is a consistent compounder, expanding top-line revenue at 12.3% annually over the past decade.
WILLIS LEASE FINANCE CORP has historically struggled to out-earn its cost of capital, averaging just 1.8% ROIC.
Over the decade, WILLIS LEASE FINANCE CORP shows that management has aggressively returned capital to shareholders by retiring 14.8% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, WILLIS LEASE FINANCE CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $509.53 per share.