We came across one bullish thesis at FTAI Aviation Ltd. in Bullseye Investing’s Bullseye Picks’ Substack. In this article, we will summarize the bulls’ thesis on FTAI. The action of FTAI Aviation Ltd. it was trading at $276.01 on January 29. FTAI’s trailing and forward P/E were 63.16 and 34.25, respectively, according to Yahoo Finance.

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FTAI Aviation (FTAI) operates as an aircraft equipment manufacturer and lessor with exposure to two core segments: aerospace products and aviation leasing, positioning the company at the intersection of aviation asset ownership and high-margin aftermarket services. The aerospace products business has become a key growth driver, benefiting from strong demand for aircraft engine modules and parts, while Aviation Leasing provides recurring cash flows through long-term leases to airlines and operators.

FTAI has delivered exceptional financial performance, with revenue up 51% year-on-year, underscoring the scalability of its model and the strength of demand across its portfolio. The company’s return on equity stands at an attractive 263%, reflecting both operating leverage and a capital structure that amplifies capital returns.

Valuation remains the main concern of investors. FTAI currently trades at roughly 38 times trailing earnings, which appears high relative to traditional aviation peers, though that multiple compresses to roughly 21 times forward earnings as earnings growth accelerates. The company previously faced accounting-related scrutiny, which created uncertainty around the business, but those issues were ultimately found to be unfounded, helping to restore confidence and prompt a strong share revaluation.

After a significant rally and another solid quarterly performance, the stock now carries high expectations, making entry timing more sensitive to broader market declines or company-specific volatility. Despite valuation concerns, the underlying fundamentals remain compelling. FTAI combines rapid growth, strong asset economics and expanding exposure to the aftermarket, which together support long-term sustainable cash generation. While patience may be warranted to secure a more attractive entry point, a significant reduction could present an opportunity to re-enter a high-quality aviation platform with proven execution and substantial long-term upside.

Previously, we covered a bullish thesis at FTAI Aviation Ltd. (FTAI) from Komodo Capital in March 2025, which highlighted the company’s vertically integrated MRO model, pricing power from engine supply constraints, PMA-driven margin expansion and multiple revaluation potential. FTAI’s stock price has appreciated approximately 167.34% since our coverage. This is because the thesis developed as operating leverage and subsequent market growth materialized. Bullseye Investing shares a similar view, but emphasizes valuation discipline and entry risk after the strong acceleration.