Willis Lease Finance Corporation (WLFC): A Bull Case Theory

We came crossed a bullish thesis on Willis Lease Finance Corporation connected Noor’s Substack. In this article, we volition summarize the bulls’ thesis connected WLFC. Willis Lease Finance Corporation's stock was trading astatine $160.13 arsenic of January 13th. WLFC’s trailing P/E was 9.98 according to Yahoo Finance.

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Willis Lease Finance Corporation is an autarkic craft motor leasing and servicing institution that operates arsenic a afloat integrated aviation ecosystem. It is the largest autarkic lessor of commercialized craft engines, with $3.4 cardinal of owned and managed assets, and provides leasing, motor repairs, utilized serviceable materials, extremity of beingness planning, airframe maintenance, and successful location consulting.

Founded successful 1985 by Charles Willis and present led by his lad Austin Willis, the household controls astir 60 percent of the business, which has been nationalist since 1996. WLFC’s level is structured crossed motor leasing and a suite of work businesses that enactment unneurotic to maximize plus utilization, trim downtime, and clasp motor worth crossed the afloat lifecycle, creating a sticky, azygous halt solution for hose customers.

The concern lawsuit rests connected 2 cardinal pillars. First, WLFC has nary expert sum and minimal organization ownership, resulting successful compressed valuation multiples contempt beardown fundamentals. While the banal is up astir 300% twelvemonth to day pursuing its archetypal ever net calls and improved transparency, it inactive trades astatine a important discount to its closest peer, FTAI, contempt having a larger motor fleet, vulnerability to adjacent procreation engines, and broader work capabilities.

Second, WLFC is uniquely positioned to payment from almighty manufacture tailwinds. OEM transportation delays, adjacent procreation motor durability issues, and a planetary shortage of MRO capableness person extended craft lives and driven grounds request for spare engines, repairs, and utilized parts. WLFC’s successful location repair centers and USM inventory trim reliance connected outer MROs and OEMs, little costs, and shorten turnaround times, allowing the institution to outperform competitors during this constrained environment.

With beardown station COVID maturation successful lease rents and attraction reserves, improving visibility, and aggregate catalysts from expert sum to sustained manufacture tightness, WLFC remains undervalued successful the author’s view. A rerating toward adjacent multiples could enactment meaningful upside, with a basal lawsuit terms people adjacent $300 and an charismatic hazard reward illustration contempt execution and manufacture risks.

Previously, we covered a bullish thesis connected FTAI Aviation Ltd. by Autumn Capital successful May 2025, which highlighted the company’s translation from motor leasing into a precocious margin, superior businesslike MRO platform. FTAI’s banal terms has appreciated by astir 130.56% since our coverage. This is due to the fact that the thesis played retired arsenic improved visibility and superior restructuring supported growth. Noor shares a akin thesis but emphasizes valuation dislocation and ecosystem driven resilience astatine Willis Lease Finance Corporation.