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Side-by-side financial comparison of AIR LEASE CORP (AL) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
AIR LEASE CORP is the larger business by last-quarter revenue ($140.8M vs $86.0M, roughly 1.6× Smart Sand, Inc.). AIR LEASE CORP runs the higher net margin — 128.5% vs 1.4%, a 127.1% gap on every dollar of revenue. On growth, AIR LEASE CORP posted the faster year-over-year revenue change (90.4% vs -5.8%). AIR LEASE CORP produced more free cash flow last quarter ($342.1M vs $20.4M). Over the past eight quarters, AIR LEASE CORP's revenue compounded faster (69.6% CAGR vs 1.8%).
Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven F. Udvar-Házy. Air Lease purchases new commercial aircraft through direct orders from Boeing, Airbus, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
AL vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.8M | $86.0M |
| Net Profit | $180.9M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | — | -3.1% |
| Net Margin | 128.5% | 1.4% |
| Revenue YoY | 90.4% | -5.8% |
| Net Profit YoY | 60.2% | -68.5% |
| EPS (diluted) | $1.49 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $140.8M | $86.0M | ||
| Q3 25 | $44.5M | $92.8M | ||
| Q2 25 | $53.0M | $85.8M | ||
| Q1 25 | $92.9M | $65.6M | ||
| Q4 24 | $74.0M | $91.4M | ||
| Q3 24 | $65.0M | $63.2M | ||
| Q2 24 | $57.8M | $73.8M | ||
| Q1 24 | $49.0M | $83.1M |
| Q4 25 | $180.9M | $1.2M | ||
| Q3 25 | $146.5M | $3.0M | ||
| Q2 25 | $385.2M | $21.4M | ||
| Q1 25 | $375.8M | $-24.2M | ||
| Q4 24 | $112.9M | $3.7M | ||
| Q3 24 | $104.0M | $-98.0K | ||
| Q2 24 | $102.9M | $-430.0K | ||
| Q1 24 | $107.9M | $-216.0K |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% | ||
| Q1 24 | — | 14.2% |
| Q4 25 | — | -3.1% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | -0.1% | ||
| Q1 25 | — | -10.8% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | -7.8% | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 128.5% | 1.4% | ||
| Q3 25 | 329.2% | 3.2% | ||
| Q2 25 | 726.9% | 24.9% | ||
| Q1 25 | 404.5% | -37.0% | ||
| Q4 24 | 152.7% | 4.1% | ||
| Q3 24 | 160.0% | -0.2% | ||
| Q2 24 | 178.2% | -0.6% | ||
| Q1 24 | 220.2% | -0.3% |
| Q4 25 | $1.49 | $0.03 | ||
| Q3 25 | $1.21 | $0.08 | ||
| Q2 25 | $3.33 | $0.54 | ||
| Q1 25 | $3.26 | $-0.62 | ||
| Q4 24 | $0.83 | $0.10 | ||
| Q3 24 | $0.82 | $0.00 | ||
| Q2 24 | $0.81 | $-0.01 | ||
| Q1 24 | $0.87 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $466.4M | $22.6M |
| Total DebtLower is stronger | $19.7B | $15.0M |
| Stockholders' EquityBook value | $8.5B | $239.7M |
| Total Assets | $32.9B | $340.0M |
| Debt / EquityLower = less leverage | 2.33× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $466.4M | $22.6M | ||
| Q3 25 | $452.2M | $5.1M | ||
| Q2 25 | $454.8M | $4.3M | ||
| Q1 25 | $456.6M | $5.1M | ||
| Q4 24 | $472.6M | $1.6M | ||
| Q3 24 | $460.8M | $7.2M | ||
| Q2 24 | $454.1M | $6.3M | ||
| Q1 24 | $554.4M | $4.6M |
| Q4 25 | $19.7B | $15.0M | ||
| Q3 25 | $20.2B | $14.3M | ||
| Q2 25 | $20.3B | $23.5M | ||
| Q1 25 | $19.9B | $13.7M | ||
| Q4 24 | $20.2B | $14.7M | ||
| Q3 24 | $20.2B | $15.7M | ||
| Q2 24 | $19.7B | $17.1M | ||
| Q1 24 | $19.5B | $25.5M |
| Q4 25 | $8.5B | $239.7M | ||
| Q3 25 | $8.3B | $239.9M | ||
| Q2 25 | $8.2B | $240.5M | ||
| Q1 25 | $7.9B | $219.9M | ||
| Q4 24 | $7.5B | $243.8M | ||
| Q3 24 | $7.7B | $243.6M | ||
| Q2 24 | $7.3B | $242.9M | ||
| Q1 24 | $7.2B | $242.5M |
| Q4 25 | $32.9B | $340.0M | ||
| Q3 25 | $33.4B | $343.1M | ||
| Q2 25 | $33.3B | $345.8M | ||
| Q1 25 | $32.4B | $326.9M | ||
| Q4 24 | $32.3B | $341.5M | ||
| Q3 24 | $32.2B | $335.8M | ||
| Q2 24 | $31.0B | $341.8M | ||
| Q1 24 | $30.9B | $349.3M |
| Q4 25 | 2.33× | 0.06× | ||
| Q3 25 | 2.42× | 0.06× | ||
| Q2 25 | 2.47× | 0.10× | ||
| Q1 25 | 2.53× | 0.06× | ||
| Q4 24 | 2.68× | 0.06× | ||
| Q3 24 | 2.63× | 0.06× | ||
| Q2 24 | 2.69× | 0.07× | ||
| Q1 24 | 2.69× | 0.11× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $414.1M | $22.4M |
| Free Cash FlowOCF − Capex | $342.1M | $20.4M |
| FCF MarginFCF / Revenue | 242.9% | 23.7% |
| Capex IntensityCapex / Revenue | 51.1% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.29× | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $414.1M | $22.4M | ||
| Q3 25 | $458.6M | $18.2M | ||
| Q2 25 | $473.6M | $-5.1M | ||
| Q1 25 | $388.3M | $8.7M | ||
| Q4 24 | $430.0M | $1.0M | ||
| Q3 24 | $461.9M | $5.8M | ||
| Q2 24 | $413.8M | $14.9M | ||
| Q1 24 | $371.3M | $-3.9M |
| Q4 25 | $342.1M | $20.4M | ||
| Q3 25 | $412.3M | $14.8M | ||
| Q2 25 | $427.1M | $-7.8M | ||
| Q1 25 | $315.5M | $5.2M | ||
| Q4 24 | $326.8M | $-840.0K | ||
| Q3 24 | $369.8M | $3.7M | ||
| Q2 24 | $346.4M | $13.5M | ||
| Q1 24 | $246.8M | $-5.5M |
| Q4 25 | 242.9% | 23.7% | ||
| Q3 25 | 926.6% | 15.9% | ||
| Q2 25 | 806.0% | -9.1% | ||
| Q1 25 | 339.5% | 7.9% | ||
| Q4 24 | 441.8% | -0.9% | ||
| Q3 24 | 569.1% | 5.8% | ||
| Q2 24 | 599.5% | 18.3% | ||
| Q1 24 | 503.8% | -6.6% |
| Q4 25 | 51.1% | 2.3% | ||
| Q3 25 | 104.1% | 3.6% | ||
| Q2 25 | 87.8% | 3.1% | ||
| Q1 25 | 78.4% | 5.4% | ||
| Q4 24 | 139.6% | 2.1% | ||
| Q3 24 | 141.7% | 3.4% | ||
| Q2 24 | 116.7% | 1.8% | ||
| Q1 24 | 254.3% | 2.0% |
| Q4 25 | 2.29× | 18.99× | ||
| Q3 25 | 3.13× | 6.05× | ||
| Q2 25 | 1.23× | -0.24× | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 3.81× | 0.28× | ||
| Q3 24 | 4.44× | — | ||
| Q2 24 | 4.02× | — | ||
| Q1 24 | 3.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AL
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
