A Business at a Glance
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American Airlines Group Inc.
AAL
$9.5B
Mkt Cap
$14.48
+6.75%
American Airlines Group Inc. (AAL) has a current P/E ratio of 85.1, compared to its historical median P/E of 12.8. The stock is currently considered Expensive based on its historical valuation range.
American Airlines Group Inc. (AAL) has a 5-year average return on invested capital (ROIC) of 4.7%. This is below average and may indicate limited pricing power.
American Airlines Group Inc. (AAL) has a market capitalization of $9.6B. It is classified as a mid-cap stock.
American Airlines Group Inc. (AAL) does not currently pay a regular dividend.
Based on historical P/E analysis, American Airlines Group Inc. (AAL) appears expensive. The current P/E of 85.1 is 567% above its historical median of 12.8. The estimated fair value CAGR (P/E method) is -23.5%.
American Airlines Group Inc. (AAL) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
American Airlines Group Inc. (AAL) reported annual revenue of $54.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
American Airlines Group Inc. is a major network air carrier providing scheduled air transportation for passengers and cargo through nine mainline hubs (Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C.) and partner gateways globally, serving over 350 destinations with approximately 224 million passengers in 2025. The airline operates a hub-and-spoke model with 1,013 mainline aircraft supplemented by 567 regional aircraft operated through wholly-owned subsidiaries (Envoy, PSA, Piedmont) and third-party carriers under the American Eagle brand, with regional carriers operating under capacity purchase agreements where American retains all revenues and controls pricing, scheduling, and inventory while paying predetermined fees and variable costs. The company generates revenue from passenger fares (domestic and international), cargo services (transporting approximately 1.0 billion pounds annually across over 20,000 origin-destination pairs), ancillary services, and loyalty programs, with distribution through direct channels (website, mobile app, reservations centers) and indirect channels (travel agents, online travel agencies, and corporate travel management companies). American is a founding member of the oneworld Alliance, which provides network connectivity and partnership benefits, and the company differentiates through premium product offerings including lie-flat seats, flagship suites, and Main Cabin Extra, with strategic investments in fleet modernization and customer experience enhancements across its hub network.
【Strong demand momentum continuing】 Management expects revenue growth to accelerate in the second quarter with domestic unit revenue projected to grow more than 10% and international entities delivering positive unit revenue performance, particularly in the Atlantic region. The company anticipates profitability in 2026 despite elevated fuel costs, supported by continued strength in premium cabin demand and the benefits of multi-year operational efficiency initiatives expected to deliver over $200 million in incremental savings. Strategic investments in hub infrastructure, including the completion of Terminal F at Dallas/Fort Worth in 2027 and terminal expansions at Los Angeles by 2028, are expected to enhance operational reliability and customer satisfaction while supporting future growth. Management remains focused on elevating customer experience, maximizing network and fleet efficiency through premium seat growth at twice the rate of main cabin expansion, and building loyalty through co-branded credit card partnerships and premium product expansion.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 56.0B | 54.6B | 54.2B | 52.8B | 49.0B | 29.9B |
| Net Income | 202M | 111M | 846M | 822M | 127M | -2.0B |
| EPS | $0.31 | $0.17 | $1.24 | $1.21 | $0.19 | $-3.09 |
| Free Cash Flow | 1.1B | -680M | 1.3B | 1.2B | -373M | 496M |
| ROIC | 4.8% | 4.7% | 10.1% | 11.0% | 5.2% | -7.8% |
| Gross Margin | - | 13.5% | 78.9% | 76.8% | 71.8% | 77.3% |
| Debt/Equity | 0.00 | -7.75 | -7.63 | -6.30 | -6.64 | -5.63 |
| Dividends/Share | $0.00 | - | - | - | $0.00 | $0.00 |
| Operating Income | 1.7B | 1.5B | 2.6B | 3.0B | 1.6B | -1.1B |
| Operating Margin | 3.0% | 2.7% | 4.8% | 5.7% | 3.3% | -3.5% |
| ROE | 0.0% | -2.9% | -18.4% | -14.9% | -1.9% | 28.1% |
| Shares Outstanding | 661M | 653M | 682M | 679M | 668M | 645M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 42.6B | 41.0B | 40.2B | 42.2B | 44.5B | 45.8B | 17.3B | 29.9B | 49.0B | 52.8B | 54.2B | 54.6B | 56.0B |
| Gross Margin | 75.2% | 24.8% | 23.2% | 20.2% | 17.1% | 79.5% | 80.4% | 77.3% | 71.8% | 76.8% | 78.9% | 13.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.5B | 1.4B | 1.3B | 1.5B | 1.5B | 2.0B | 666M | 1.1B | 1.8B | 1.8B | 1.8B | 2.0B | 2.1B |
| EBIT | 4.2B | 6.2B | 5.1B | 4.2B | 2.7B | 3.1B | -10.4B | -1.1B | 1.6B | 3.0B | 2.6B | 1.5B | 1.7B |
| Op. Margin | 10.0% | 15.1% | 12.6% | 10.0% | 6.0% | 6.7% | -60.1% | -3.5% | 3.3% | 5.7% | 4.8% | 2.7% | 3.0% |
| Net Income | 2.9B | 7.6B | 2.6B | 1.3B | 1.4B | 1.7B | -8.9B | -2.0B | 127M | 822M | 846M | 111M | 202M |
| Net Margin | 6.8% | 18.6% | 6.4% | 3.0% | 3.2% | 3.7% | -51.2% | -6.7% | 0.3% | 1.6% | 1.6% | 0.2% | 0.4% |
| Non-Recurring | 96M | 210M | 177M | 232M | 422M | 271M | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 44.2% | 38.5% | 16.8% | 13.9% | 10.1% | 11.1% | -40.1% | -7.8% | 5.2% | 11.0% | 10.1% | 4.7% | 4.8% |
| ROE | 142.6% | 198.8% | 96.6% | -241.0% | -297.6% | N/A | 254.4% | 28.1% | -1.9% | -14.9% | -18.4% | -2.9% | 0.0% |
| ROA | 6.7% | 16.6% | 5.2% | 2.5% | 2.5% | 2.8% | -14.6% | -3.1% | 0.2% | 1.3% | 1.4% | 0.2% | 0.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 3.1B | 6.2B | 6.5B | 4.7B | 3.5B | 3.8B | -6.5B | 704M | 2.2B | 3.8B | 4.0B | 3.1B | 4.9B |
| Free Cash Flow | -2.2B | 98M | 793M | -1.2B | -212M | -453M | -8.5B | 496M | -373M | 1.2B | 1.3B | -680M | 1.1B |
| Owner Earnings | 1.5B | 4.3B | 4.5B | 2.5B | 1.0B | 1.1B | -9.0B | -1.7B | -205M | 1.4B | 1.7B | 842M | 2.6B |
| CapEx | 5.3B | 6.2B | 5.7B | 6.0B | 3.7B | 4.3B | 2.0B | 208M | 2.5B | 2.6B | 2.7B | 3.8B | 3.8B |
| Maint. CapEx | 1.3B | 1.7B | 1.9B | 2.2B | 2.4B | 2.6B | 2.4B | 2.3B | 2.3B | 2.3B | 2.2B | 2.2B | 2.2B |
| Growth CapEx | 4.0B | 4.5B | 3.8B | 3.8B | 1.3B | 1.7B | 0 | 0 | 246M | 296M | 483M | 1.6B | 1.6B |
| D&A | 1.3B | 1.7B | 1.9B | 2.2B | 2.4B | 2.6B | 2.4B | 2.3B | 2.3B | 2.3B | 2.2B | 2.2B | 2.2B |
| CapEx/OCF | 172.4% | 98.4% | 87.8% | 125.9% | 106.0% | 111.9% | N/A | 29.5% | 117.2% | 68.3% | 67.4% | 121.9% | 77.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 144M | 278M | 224M | 198M | 186M | 178M | 43M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 0.5% | 0.9% | 1.1% | 0.9% | 1.0% | 1.3% | 0.6% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 1.1B | 3.8B | 4.5B | 1.6B | 837M | 1.1B | 173M | 18M | 21M | 0 | 0 | 0 | 0 |
| Buyback Yield | 2.9% | 13.5% | 17.6% | 6.4% | 5.7% | 8.7% | 2.2% | 0.2% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 304M | 284M | 100M | 90M | 86M | 94M | 91M | 98M | 78M | 102M | 92M | 57M | 51M |
| Debt Repayment | 314M | 2.2B | 3.8B | 2.3B | 2.9B | 4.2B | 3.5B | 7.3B | 3.8B | 7.7B | 4.5B | 5.5B | 5.5B |
| Balance Sheet | |||||||||||||
| Net Debt | 10.4B | 14.2B | 17.9B | 19.8B | 20.7B | 20.7B | 32.6B | 28.5B | 26.6B | 24.8B | 22.3B | 22.9B | 23.8B |
| Cash & Equiv. | 994M | 507M | 435M | 398M | 286M | 290M | 399M | 408M | 586M | 681M | 902M | 1.1B | 3.8B |
| Long-Term Debt | 16.0B | 18.3B | 22.5B | 22.5B | 21.2B | 21.5B | 29.8B | 35.6B | 32.4B | 29.3B | 25.2B | 25.3B | 23.5B |
| Debt/Equity | 8.77 | 3.65 | -85.72 | -32.03 | -144.33 | -205.11 | -5.81 | -5.63 | -6.64 | -6.30 | -7.63 | -7.75 | 0.00 |
| Interest Coverage | 4.8 | 7.0 | 5.1 | 4.0 | 2.5 | 2.8 | -8.5 | -0.6 | 0.8 | 1.4 | 1.4 | 0.9 | 99.8 |
| Equity | 2.0B | 5.6B | -284M | -780M | -169M | -118M | -6.9B | -7.3B | -5.8B | -5.2B | -4.0B | -3.7B | -4.1B |
| Total Assets | 43.2B | 48.4B | 51.3B | 52.8B | 60.6B | 60.0B | 62.0B | 66.5B | 64.7B | 63.1B | 61.8B | 61.8B | 63.7B |
| Total Liabilities | 41.2B | 42.8B | 51.6B | 53.6B | 60.7B | 60.1B | 68.9B | 73.8B | 70.5B | 68.3B | 65.8B | 65.5B | 2.0B |
| Intangibles | 2.2B | 2.2B | 2.2B | 2.2B | 2.1B | 2.1B | 2.0B | 2.0B | 2.1B | 2.1B | 2.0B | 2.1B | 2.1B |
| Retained Earnings | -8.6B | -1.2B | 1.6B | -1.3B | 758M | 2.3B | -6.7B | -8.6B | -8.5B | -7.7B | -6.8B | -6.7B | -7.1B |
| Working Capital | -1.7B | -3.6B | -3.5B | -6.2B | -9.5B | -10.1B | -5.5B | -1.7B | -6.2B | -8.5B | -11.1B | -12.3B | -14.4B |
| Current Assets | 11.8B | 10.0B | 10.3B | 9.1B | 8.6B | 8.2B | 11.1B | 17.3B | 15.3B | 13.6B | 13.2B | 12.2B | 14.0B |
| Current Liabilities | 13.4B | 13.6B | 13.9B | 15.4B | 18.1B | 18.3B | 16.6B | 19.0B | 21.5B | 22.1B | 24.3B | 24.5B | 28.4B |
| Per Share Data | |||||||||||||
| EPS | 3.93 | 11.07 | 4.65 | 2.61 | 3.03 | 3.79 | -18.36 | -3.09 | 0.19 | 1.21 | 1.24 | 0.17 | 0.31 |
| Owner EPS | 2.02 | 6.20 | 8.14 | 5.00 | 2.25 | 2.52 | -18.67 | -2.63 | -0.31 | 2.06 | 2.48 | 1.29 | 3.94 |
| Book Value | 2.76 | 8.20 | -0.51 | -1.59 | -0.36 | -0.27 | -14.19 | -11.38 | -8.68 | -7.66 | -5.83 | -5.71 | -6.16 |
| Cash Flow/Share | 4.20 | 9.09 | 11.74 | 9.66 | 7.58 | 8.58 | -13.52 | 1.09 | 3.25 | 5.60 | 5.84 | 4.75 | 3.64 |
| Dividends/Share | 0.20 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.10 | 0.00 | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 733.3M | 687.4M | 555.7M | 491.2M | 466.0M | 444.9M | 483.9M | 645.0M | 668.4M | 679.3M | 682.3M | 652.9M | 661.4M |
| Valuation | |||||||||||||
| P/E Ratio | 12.5 | 3.7 | 9.6 | 19.6 | 10.3 | 7.5 | N/A | N/A | 64.8 | 11.6 | 14.0 | 90.8 | 47.1 |
| P/FCF | N/A | 289.8 | 32.3 | N/A | N/A | N/A | N/A | 24.1 | N/A | 7.9 | 9.1 | N/A | 8.7 |
| EV/EBIT | 11.3 | 7.2 | 8.6 | 11.3 | 14.2 | 11.7 | N/A | N/A | 23.8 | 12.7 | 15.6 | 25.2 | 19.7 |
| Price/Book | 17.9 | 5.0 | 6.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 0.6 | 0.7 | 0.5 | 0.5 | 0.4 | 0.3 | 0.4 | 0.4 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| FCF Yield | -6.2% | 0.3% | 3.1% | -4.9% | -1.5% | -3.6% | -109.4% | 4.1% | -4.5% | 12.7% | 11.0% | -6.7% | 11.5% |
| Market Cap | 36.1B | 28.4B | 25.6B | 25.1B | 14.6B | 12.6B | 7.8B | 12.0B | 8.2B | 9.5B | 11.8B | 10.1B | 9.6B |
| Avg. Price | 36.49 | 43.05 | 36.70 | 46.08 | 42.01 | 30.60 | 15.37 | 20.30 | 15.34 | 14.56 | 13.10 | 12.88 | 14.48 |
| Year-End Price | 49.23 | 41.31 | 46.07 | 51.13 | 31.32 | 28.34 | 16.06 | 18.54 | 12.32 | 13.98 | 17.35 | 15.44 | 14.48 |
American Airlines Group Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
American Airlines Group Inc. trades at 85.1x trailing earnings, compared to its 15-year median P/E of 12.8x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 4.7% with a gross margin of 63.7%. At current prices, the estimated annualized return to fair value is +19.0%.
American Airlines Group Inc. (AAL) has a net profit margin of 0.2%. This is a modest margin.
American Airlines Group Inc. (AAL) generated $-680 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
American Airlines Group Inc. (AAL) reported earnings per share (EPS) of $0.17 in its most recent fiscal year.
American Airlines Group Inc. (AAL) has a return on equity (ROE) of -2.9%. A negative ROE may indicate losses or negative equity.
American Airlines Group Inc. (AAL) has a 5-year average gross margin of 63.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for American Airlines Group Inc. (AAL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
American Airlines Group Inc. (AAL) has a book value per share of $-5.71, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects revenue growth to accelerate in the second quarter with domestic unit revenue projected to grow more than 10% and international entities delivering positive unit revenue performance, particularly in the Atlantic region. The company anticipates profitability in 2026 despite elevated fuel costs, supported by continued strength in premium cabin demand and the benefits of multi-year operational efficiency initiatives expected to deliver over $200 million in incremental savings. Strategic investments in hub infrastructure, including the completion of Terminal F at Dallas/Fort Worth in 2027 and terminal expansions at Los Angeles by 2028, are expected to enhance operational reliability and customer satisfaction while supporting future growth. Management remains focused on elevating customer experience, maximizing network and fleet efficiency through premium seat growth at twice the rate of main cabin expansion, and building loyalty through co-branded credit card partnerships and premium product expansion.