Succinct write up! I am wondering if this trades on current book value or forward bv, and if you have any suggestions on how to model the projected BV for this type of company. Thanks!
It seems to have traditionally traded between 0.9 and 1x book and it's currently a bit above that. Modelling the book value is difficult these days as on the capital allocation front they have added a dividend in addition to the buyback. The stock is still definitely trading under the liquidation value of the fleet plus there are the claims on the Russian aircraft that should generate at least a few hundred million in proceeds so I feel good about owning it here. I think air lease is currently more attractive though given the recent price decline.
one expert transcript was saying since air lease's fleets are too new, it won't be able to capture the upside of renewed contracts from now to 2028, some thing to consider. having gus kelly at the helm is probably all u can ask for. May be a good point of entry today as this name went back to 1xbv
Succinct write up! I am wondering if this trades on current book value or forward bv, and if you have any suggestions on how to model the projected BV for this type of company. Thanks!
It seems to have traditionally traded between 0.9 and 1x book and it's currently a bit above that. Modelling the book value is difficult these days as on the capital allocation front they have added a dividend in addition to the buyback. The stock is still definitely trading under the liquidation value of the fleet plus there are the claims on the Russian aircraft that should generate at least a few hundred million in proceeds so I feel good about owning it here. I think air lease is currently more attractive though given the recent price decline.
one expert transcript was saying since air lease's fleets are too new, it won't be able to capture the upside of renewed contracts from now to 2028, some thing to consider. having gus kelly at the helm is probably all u can ask for. May be a good point of entry today as this name went back to 1xbv