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Side-by-side financial comparison of AIR LEASE CORP (AL) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
AIR LEASE CORP is the larger business by last-quarter revenue ($140.8M vs $100.0M, roughly 1.4× Latham Group, Inc.). AIR LEASE CORP runs the higher net margin — 128.5% vs -7.0%, a 135.5% gap on every dollar of revenue. On growth, AIR LEASE CORP posted the faster year-over-year revenue change (90.4% vs 14.5%). AIR LEASE CORP produced more free cash flow last quarter ($342.1M vs $14.1M). Over the past eight quarters, AIR LEASE CORP's revenue compounded faster (69.6% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AL vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.8M | $100.0M |
| Net Profit | $180.9M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | — | -10.7% |
| Net Margin | 128.5% | -7.0% |
| Revenue YoY | 90.4% | 14.5% |
| Net Profit YoY | 60.2% | 76.0% |
| EPS (diluted) | $1.49 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $44.5M | $161.9M | ||
| Q2 25 | $53.0M | $172.6M | ||
| Q1 25 | $92.9M | $111.4M | ||
| Q4 24 | $74.0M | $87.3M | ||
| Q3 24 | $65.0M | $150.5M | ||
| Q2 24 | $57.8M | $160.1M | ||
| Q1 24 | $49.0M | $110.6M |
| Q4 25 | $180.9M | $-7.0M | ||
| Q3 25 | $146.5M | $8.1M | ||
| Q2 25 | $385.2M | $16.0M | ||
| Q1 25 | $375.8M | $-6.0M | ||
| Q4 24 | $112.9M | $-29.2M | ||
| Q3 24 | $104.0M | $5.9M | ||
| Q2 24 | $102.9M | $13.3M | ||
| Q1 24 | $107.9M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | — | -14.9% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -1.9% |
| Q4 25 | 128.5% | -7.0% | ||
| Q3 25 | 329.2% | 5.0% | ||
| Q2 25 | 726.9% | 9.3% | ||
| Q1 25 | 404.5% | -5.4% | ||
| Q4 24 | 152.7% | -33.4% | ||
| Q3 24 | 160.0% | 3.9% | ||
| Q2 24 | 178.2% | 8.3% | ||
| Q1 24 | 220.2% | -7.1% |
| Q4 25 | $1.49 | $-0.06 | ||
| Q3 25 | $1.21 | $0.07 | ||
| Q2 25 | $3.33 | $0.13 | ||
| Q1 25 | $3.26 | $-0.05 | ||
| Q4 24 | $0.83 | $-0.24 | ||
| Q3 24 | $0.82 | $0.05 | ||
| Q2 24 | $0.81 | $0.11 | ||
| Q1 24 | $0.87 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $19.7B | $279.8M |
| Stockholders' EquityBook value | $8.5B | $405.9M |
| Total Assets | $32.9B | $823.2M |
| Debt / EquityLower = less leverage | 2.33× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $466.4M | — | ||
| Q3 25 | $452.2M | — | ||
| Q2 25 | $454.8M | — | ||
| Q1 25 | $456.6M | — | ||
| Q4 24 | $472.6M | — | ||
| Q3 24 | $460.8M | — | ||
| Q2 24 | $454.1M | — | ||
| Q1 24 | $554.4M | — |
| Q4 25 | $19.7B | $279.8M | ||
| Q3 25 | $20.2B | $281.1M | ||
| Q2 25 | $20.3B | $281.5M | ||
| Q1 25 | $19.9B | $306.9M | ||
| Q4 24 | $20.2B | $281.5M | ||
| Q3 24 | $20.2B | $282.8M | ||
| Q2 24 | $19.7B | $282.4M | ||
| Q1 24 | $19.5B | $282.8M |
| Q4 25 | $8.5B | $405.9M | ||
| Q3 25 | $8.3B | $408.4M | ||
| Q2 25 | $8.2B | $398.4M | ||
| Q1 25 | $7.9B | $381.1M | ||
| Q4 24 | $7.5B | $387.2M | ||
| Q3 24 | $7.7B | $416.6M | ||
| Q2 24 | $7.3B | $408.1M | ||
| Q1 24 | $7.2B | $391.8M |
| Q4 25 | $32.9B | $823.2M | ||
| Q3 25 | $33.4B | $844.4M | ||
| Q2 25 | $33.3B | $822.1M | ||
| Q1 25 | $32.4B | $824.6M | ||
| Q4 24 | $32.3B | $794.2M | ||
| Q3 24 | $32.2B | $853.4M | ||
| Q2 24 | $31.0B | $830.0M | ||
| Q1 24 | $30.9B | $808.6M |
| Q4 25 | 2.33× | 0.69× | ||
| Q3 25 | 2.42× | 0.69× | ||
| Q2 25 | 2.47× | 0.71× | ||
| Q1 25 | 2.53× | 0.81× | ||
| Q4 24 | 2.68× | 0.73× | ||
| Q3 24 | 2.63× | 0.68× | ||
| Q2 24 | 2.69× | 0.69× | ||
| Q1 24 | 2.69× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $342.1M | $14.1M |
| FCF MarginFCF / Revenue | 242.9% | 14.1% |
| Capex IntensityCapex / Revenue | 51.1% | 9.2% |
| Cash ConversionOCF / Net Profit | 2.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $414.1M | $23.3M | ||
| Q3 25 | $458.6M | $51.0M | ||
| Q2 25 | $473.6M | $36.0M | ||
| Q1 25 | $388.3M | $-46.9M | ||
| Q4 24 | $430.0M | $6.2M | ||
| Q3 24 | $461.9M | $37.2M | ||
| Q2 24 | $413.8M | $52.4M | ||
| Q1 24 | $371.3M | $-34.5M |
| Q4 25 | $342.1M | $14.1M | ||
| Q3 25 | $412.3M | $45.2M | ||
| Q2 25 | $427.1M | $29.1M | ||
| Q1 25 | $315.5M | $-50.3M | ||
| Q4 24 | $326.8M | $-98.0K | ||
| Q3 24 | $369.8M | $33.2M | ||
| Q2 24 | $346.4M | $47.9M | ||
| Q1 24 | $246.8M | $-39.9M |
| Q4 25 | 242.9% | 14.1% | ||
| Q3 25 | 926.6% | 27.9% | ||
| Q2 25 | 806.0% | 16.8% | ||
| Q1 25 | 339.5% | -45.2% | ||
| Q4 24 | 441.8% | -0.1% | ||
| Q3 24 | 569.1% | 22.1% | ||
| Q2 24 | 599.5% | 29.9% | ||
| Q1 24 | 503.8% | -36.0% |
| Q4 25 | 51.1% | 9.2% | ||
| Q3 25 | 104.1% | 3.6% | ||
| Q2 25 | 87.8% | 4.0% | ||
| Q1 25 | 78.4% | 3.1% | ||
| Q4 24 | 139.6% | 7.2% | ||
| Q3 24 | 141.7% | 2.7% | ||
| Q2 24 | 116.7% | 2.8% | ||
| Q1 24 | 254.3% | 4.8% |
| Q4 25 | 2.29× | — | ||
| Q3 25 | 3.13× | 6.29× | ||
| Q2 25 | 1.23× | 2.25× | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 3.81× | — | ||
| Q3 24 | 4.44× | 6.32× | ||
| Q2 24 | 4.02× | 3.95× | ||
| 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.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
