American Airlines Group Inc. (AAL) 10-Year Financial Performance & Capital Metrics

AAL • • Industrial / General

IndustrialsAirlines & AirportsFull-Service Network AirlinesMajor US Network Carriers

AboutAmerican Airlines Group Inc., through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Madrid, Seattle/Tacoma, Sydney, and Tokyo. As of December 31, 2021, it operated a mainline fleet of 865 aircraft. The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc. in December 2013. American Airlines Group Inc. was founded in 1930 and is headquartered in Fort Worth, Texas.Show more

Revenue $54.21B +2.7%
EBITDA $5.18B -12.9%
Net Income $846M +2.9%
EPS (Diluted) 1.24 +8.8%
Gross Margin 21.21% -5.3%
EBITDA Margin 9.56% -15.2%
Operating Margin 6.01% -21.0%
Net Margin 1.56% +0.2%
ROE -
ROIC 7.22% -13.2%
Debt/Equity -
Interest Coverage 1.68 -10.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 82 (top 18%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Profits declining 12.9% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y2.43%

5Y3.44%

3Y21.96%

TTM1.27%

Profit (Net Income) CAGR

10Y-11.54%

5Y-12.88%

3Y-

TTM118.91%

EPS CAGR

10Y-10.89%

5Y-20.07%

3Y-

TTM154.55%

ROCE

10Y Avg5.37%

5Y Avg-3.24%

3Y Avg7.27%

Latest8.3%

Peer Comparison

Major US Network Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALKAlaska Air Group, Inc.	5.76B	49.66	16.12	12.56%	1.06%	3.72%	3.18%	1.46
AALAmerican Airlines Group Inc.	10.37B	15.71	12.67	2.7%	1.11%		12.54%
UALUnited Airlines Holdings, Inc.	37.56B	116.02	12.28	6.23%	5.64%	23.01%	10.2%	2.65
DALDelta Air Lines, Inc.	46.58B	71.34	9.31	2.79%	7.9%	24.12%	8.25%	1.02

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	40.99B	40.18B	42.21B	44.54B	45.77B	17.34B	29.88B	48.97B	52.79B	54.21B
Revenue Growth %	-0.04%	-0.02%	0.05%	0.06%	0.03%	-0.62%	0.72%	0.64%	0.08%	0.03%
Cost of Goods Sold+	27.01B	27.52B	30.42B	33.52B	34.34B	24.66B	30.3B	39.93B	40.97B	42.71B
COGS % of Revenue	0.66%	0.68%	0.72%	0.75%	0.75%	1.42%	1.01%	0.82%	0.78%	0.79%
Gross Profit+	13.98B	12.66B	12.21B	11.02B	11.42B	-7.32B	-422M	9.04B	11.82B	11.5B
Gross Margin %	0.34%	0.32%	0.29%	0.25%	0.25%	-0.42%	-0.01%	0.18%	0.22%	0.21%
Gross Profit Growth %	0.21%	-0.09%	-0.04%	-0.1%	0.04%	-1.64%	0.94%	22.43%	0.31%	-0.03%
Operating Expenses+	6.68B	6.65B	7.24B	7.57B	7.72B	4.07B	5.09B	7.24B	7.8B	8.24B
OpEx % of Revenue	0.16%	0.17%	0.17%	0.17%	0.17%	0.23%	0.17%	0.15%	0.15%	0.15%
Selling, General & Admin	1.73B	1.67B	1.84B	1.52B	2B	666M	1.1B	1.81B	1.8B	1.81B
SG&A % of Revenue	0.04%	0.04%	0.04%	0.03%	0.04%	0.04%	0.04%	0.04%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	5.29B	5.33B	7.48B	6.05B	5.71B	3.4B	3.99B	5.42B	6.01B	6.43B
Operating Income+	7.29B	6.01B	4.96B	3.45B	3.71B	-11.39B	-5.51B	1.8B	4.01B	3.26B
Operating Margin %	0.18%	0.15%	0.12%	0.08%	0.08%	-0.66%	-0.18%	0.04%	0.08%	0.06%
Operating Income Growth %	0.44%	-0.18%	-0.17%	-0.31%	0.07%	-4.07%	0.52%	1.33%	1.22%	-0.19%
EBITDA+	8.9B	7.83B	6.98B	5.61B	6.02B	-9.02B	-3.18B	3.78B	5.95B	5.18B
EBITDA Margin %	0.22%	0.19%	0.17%	0.13%	0.13%	-0.52%	-0.11%	0.08%	0.11%	0.1%
EBITDA Growth %	0.35%	-0.12%	-0.11%	-0.2%	0.07%	-2.5%	0.65%	2.19%	0.57%	-0.13%
D&A (Non-Cash Add-back)	1.61B	1.83B	2.02B	2.16B	2.32B	2.37B	2.33B	1.98B	1.94B	1.93B
EBIT	5.5B	5.29B	4.45B	2.94B	3.35B	-10.23B	-748M	2.15B	3.27B	3.09B
Net Interest Income+	-841M	-928M	-959M	-938M	-968M	-1.19B	-1.78B	-1.75B	-1.55B	-1.47B
Interest Income	39M	63M	94M	118M	127M	41M	18M	216M	591M	468M
Interest Expense	880M	991M	1.05B	1.06B	1.09B	1.23B	1.8B	1.96B	2.15B	1.93B
Other Income/Expense	-2.68B	-1.71B	-1.57B	-1.56B	-1.45B	-66M	2.97B	-1.62B	-2.89B	-2.1B
Pretax Income+	4.62B	4.3B	3.08B	1.88B	2.26B	-11.45B	-2.55B	186M	1.12B	1.15B
Pretax Margin %	0.11%	0.11%	0.07%	0.04%	0.05%	-0.66%	-0.09%	0%	0.02%	0.02%
Income Tax+	-2.99B	1.62B	1.17B	472M	570M	-2.57B	-555M	59M	299M	308M
Effective Tax Rate %	1.65%	0.62%	0.62%	0.75%	0.75%	0.78%	0.78%	0.68%	0.73%	0.73%
Net Income+	7.61B	2.68B	1.92B	1.41B	1.69B	-8.88B	-1.99B	127M	822M	846M
Net Margin %	0.19%	0.07%	0.05%	0.03%	0.04%	-0.51%	-0.07%	0%	0.02%	0.02%
Net Income Growth %	1.64%	-0.65%	-0.28%	-0.26%	0.19%	-6.27%	0.78%	1.06%	5.47%	0.03%
Net Income (Continuing)	7.61B	2.68B	1.28B	1.41B	1.69B	-8.88B	-1.99B	127M	822M	846M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	11.07	4.81	3.90	3.03	3.80	-18.36	-3.09	0.19	1.14	1.24
EPS Growth %	1.82%	-0.57%	-0.19%	-0.22%	0.25%	-5.83%	0.83%	1.06%	5%	0.09%
EPS (Basic)	11.39	4.85	3.92	3.04	3.80	-18.36	-3.09	0.20	1.26	1.29
Diluted Shares Outstanding	687.36M	556.1M	491.69M	465.66M	444.27M	483.89M	644.01M	655.12M	719.67M	721.3M
Basic Shares Outstanding	668.39M	552.31M	489.16M	464.24M	443.36M	483.89M	644.01M	650.35M	653.61M	657M
Dividend Payout Ratio	0.04%	0.08%	0.1%	0.13%	0.11%	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	9.98B	10.32B	9.15B	8.64B	8.21B	11.1B	17.34B	15.27B	13.57B	13.15B
Cash & Short-Term Investments	6.25B	6.36B	5.07B	4.76B	3.83B	6.86B	12.43B	8.96B	7.58B	6.98B
Cash Only	390M	322M	295M	275M	280M	245M	273M	440M	578M	804M
Short-Term Investments	5.86B	6.04B	4.77B	4.49B	3.55B	6.62B	12.16B	8.53B	7B	6.18B
Accounts Receivable	1.43B	1.59B	1.75B	1.71B	1.75B	1.34B	1.5B	2.14B	2.03B	2.01B
Days Sales Outstanding	12.69	14.48	15.15	13.98	13.96	28.25	18.38	15.94	14.01	13.51
Inventory	863M	1.09B	1.36B	1.52B	1.85B	1.61B	1.79B	2.28B	2.4B	2.64B
Days Inventory Outstanding	11.66	14.51	16.31	16.57	19.67	23.89	21.62	20.83	21.38	22.54
Other Current Assets	695M	638M	318M	154M	158M	609M	990M	995M	1.57B	1.53B
Total Non-Current Assets+	38.43B	40.95B	43.64B	51.94B	51.79B	50.91B	49.13B	49.45B	49.49B	48.63B
Property, Plant & Equipment	27.51B	31.16B	34.16B	43.25B	43.73B	39.74B	37.39B	38.29B	38.7B	38.46B
Fixed Asset Turnover	1.49x	1.29x	1.24x	1.03x	1.05x	0.44x	0.80x	1.28x	1.36x	1.41x
Goodwill	4.09B	4.09B	4.09B	4.09B	4.09B	4.09B	4.09B	4.09B	4.09B	4.09B
Intangible Assets	2.25B	2.17B	2.2B	2.14B	2.08B	2.03B	1.99B	2.06B	2.05B	2.04B
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	2.1B	2.03B	1.37B	1.32B	1.24B	1.82B	2.11B	1.9B	1.75B	1.55B
Total Assets+	48.41B	51.27B	52.78B	60.58B	59.99B	62.01B	66.47B	64.72B	63.06B	61.78B
Asset Turnover	0.85x	0.78x	0.80x	0.74x	0.76x	0.28x	0.45x	0.76x	0.84x	0.88x
Asset Growth %	0.12%	0.06%	0.03%	0.15%	-0.01%	0.03%	0.07%	-0.03%	-0.03%	-0.02%
Total Current Liabilities+	13.61B	13.87B	15.36B	18.1B	18.31B	16.57B	19.01B	21.5B	22.06B	24.3B
Accounts Payable	1.56B	1.59B	1.69B	1.77B	2.06B	1.2B	1.77B	2.15B	2.35B	2.46B
Days Payables Outstanding	21.12	21.11	20.26	19.31	21.91	17.71	21.34	19.64	20.96	20.98
Short-Term Debt	2.23B	1.85B	2.55B	3.29B	2.86B	2.8B	2.49B	3.27B	3.63B	5.32B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	0	0	0	0	0	0
Current Ratio	0.73x	0.74x	0.60x	0.48x	0.45x	0.67x	0.91x	0.71x	0.62x	0.54x
Quick Ratio	0.67x	0.67x	0.51x	0.39x	0.35x	0.57x	0.82x	0.60x	0.51x	0.43x
Cash Conversion Cycle	3.23	7.88	11.2	11.25	11.71	34.44	18.66	17.12	14.43	15.07
Total Non-Current Liabilities+	29.18B	33.62B	38.21B	42.65B	41.8B	52.31B	54.8B	49.02B	46.2B	41.47B
Long-Term Debt	18.33B	22.49B	22.51B	21.18B	21.45B	29.8B	35.57B	32.39B	29.27B	25.15B
Capital Lease Obligations	0	0	0	7.9B	7.42B	6.78B	6.61B	6.56B	6.45B	5.98B
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	10.18B	10.6B	9.99B	8.3B	7.5B	8.57B	6.38B	4.09B	4.6B	3.84B
Total Liabilities	42.78B	47.49B	53.56B	60.75B	60.11B	68.88B	73.81B	70.52B	68.26B	65.76B
Total Debt+	20.56B	24.34B	25.07B	34.03B	33.44B	41.02B	46.18B	43.69B	40.66B	37.54B
Net Debt	20.17B	24.02B	24.77B	33.75B	33.16B	40.78B	45.9B	43.25B	40.09B	36.74B
Debt / Equity	3.65x	6.43x	-	-	-	-	-	-	-	-
Debt / EBITDA	2.31x	3.11x	3.59x	6.07x	5.55x	-	-	11.55x	6.84x	7.24x
Net Debt / EBITDA	2.27x	3.07x	3.55x	6.02x	5.51x	-	-	11.43x	6.74x	7.09x
Interest Coverage	8.29x	6.06x	4.72x	3.27x	3.38x	-9.28x	-3.06x	0.92x	1.87x	1.68x
Total Equity+	5.63B	3.79B	-780M	-169M	-118M	-6.87B	-7.34B	-5.8B	-5.2B	-3.98B
Equity Growth %	1.79%	-0.33%	-1.21%	0.78%	0.3%	-57.19%	-0.07%	0.21%	0.1%	0.24%
Book Value per Share	8.20	6.81	-1.59	-0.36	-0.27	-14.19	-11.40	-8.85	-7.23	-5.51
Total Shareholders' Equity	5.63B	3.79B	-780M	-169M	-118M	-6.87B	-7.34B	-5.8B	-5.2B	-3.98B
Common Stock	6M	5M	5M	5M	4M	6M	6M	6M	7M	7M
Retained Earnings	-1.23B	1.64B	-1.34B	758M	2.26B	-6.66B	-8.64B	-8.51B	-7.69B	-6.84B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-4.73B	-5.08B	-5.15B	-5.9B	-6.33B	-7.1B	-5.94B	-4.58B	-4.89B	-4.57B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	6.25B	6.52B	4.74B	3.53B	3.81B	-6.54B	704M	2.17B	3.8B	3.98B
Operating CF Margin %	0.15%	0.16%	0.11%	0.08%	0.08%	-0.38%	0.02%	0.04%	0.07%	0.07%
Operating CF Growth %	1.03%	0.04%	-0.27%	-0.26%	0.08%	-2.72%	1.11%	2.09%	0.75%	0.05%
Net Income	7.61B	2.68B	1.28B	1.41B	1.69B	-8.88B	-1.99B	127M	822M	846M
Depreciation & Amortization	1.61B	1.83B	2.02B	2.16B	2.32B	2.37B	2.33B	1.98B	1.94B	1.93B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-3.01B	1.61B	2.09B	440M	560M	-2.57B	-555M	65M	299M	308M
Other Non-Cash Items	232M	157M	77M	90M	118M	1.33B	-124M	186M	510M	88M
Working Capital Changes	-186M	254M	-721M	-566M	-867M	1.22B	1.04B	-182M	236M	815M
Change in Receivables	352M	-160M	-190M	222M	73M	538M	-304M	-637M	95M	35M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	173M	307M	299M	-147M	327M	-626M	461M	585M	873M	257M
Cash from Investing+	-5.59B	-5.7B	-3.64B	-1.97B	-2.24B	-4.34B	-5.98B	636M	-502M	-968M
Capital Expenditures	-6.15B	-5.73B	-5.97B	-3.75B	-4.27B	-1.96B	-412M	-2.91B	-2.6B	-2.68B
CapEx % of Revenue	0.15%	0.14%	0.14%	0.08%	0.09%	0.11%	0.01%	0.06%	0.05%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	2M	0	-7M	164M	-63M	10M	0	275M	65M
Cash from Financing+	-1.26B	-894M	-1.15B	-1.67B	-1.57B	10.99B	5.29B	-2.63B	-3.21B	-2.79B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-278M	-224M	-198M	-186M	-178M	-43M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	9M	-44M	-58M	-3M	-2M	88M	208M	77M	-310M	3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	98M	793M	-1.23B	-212M	-453M	-8.5B	292M	-733M	1.21B	1.3B
FCF Margin %	0%	0.02%	-0.03%	-0%	-0.01%	-0.49%	0.01%	-0.01%	0.02%	0.02%
FCF Growth %	1.04%	7.09%	-2.55%	0.83%	-1.14%	-17.77%	1.03%	-3.51%	2.65%	0.08%
FCF per Share	0.14	1.43	-2.50	-0.46	-1.02	-17.57	0.45	-1.12	1.68	1.80
FCF Conversion (FCF/Net Income)	0.82x	2.44x	2.47x	2.50x	2.26x	0.74x	-0.35x	17.11x	4.63x	4.71x
Interest Paid	873M	964M	1.04B	1.09B	0	0	0	0	0	0
Taxes Paid	20M	16M	20M	18M	0	0	0	0	0	8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	198.8%	56.82%	127.72%	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	24.55%	16.81%	14.38%	8.99%	8.34%	-25.51%	-11.41%	3.56%	8.32%	7.22%
Gross Margin	34.1%	31.51%	28.92%	24.74%	24.96%	-42.21%	-1.41%	18.46%	22.39%	21.21%
Net Margin	18.57%	6.66%	4.55%	3.17%	3.68%	-51.25%	-6.67%	0.26%	1.56%	1.56%
Debt / Equity	3.65x	6.43x	-	-	-	-	-	-	-	-
Interest Coverage	8.29x	6.06x	4.72x	3.27x	3.38x	-9.28x	-3.06x	0.92x	1.87x	1.68x
FCF Conversion	0.82x	2.44x	2.47x	2.50x	2.26x	0.74x	-0.35x	17.11x	4.63x	4.71x
Revenue Growth	-3.89%	-1.98%	5.04%	5.53%	2.75%	-62.12%	72.36%	63.88%	7.79%	2.7%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Passenger	-	-	-	-	-	14.52B	26.06B	44.57B	48.51B	49.59B
Passenger Growth	-	-	-	-	-	-	79.52%	71.00%	8.85%	2.21%
Product and Service, Other	-	-	-	2.85B	2.9B	2.05B	2.5B	3.17B	3.46B	3.82B
Product and Service, Other Growth	-	-	-	-	1.51%	-29.19%	22.20%	26.55%	9.27%	10.31%
Cargo and Freight	-	-	-	1.01B	863M	769M	1.31B	1.23B	812M	804M
Cargo and Freight Growth	-	-	-	-	-14.81%	-10.89%	70.87%	-6.16%	-34.14%	-0.99%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Domestic Destination	28.86B	28.62B	29.61B	29.57B	30.88B	11.77B	21.45B	32.91B	34.59B	35.34B
Domestic Destination Growth	-	-0.81%	3.47%	-0.13%	4.42%	-61.90%	82.35%	53.41%	5.11%	2.15%
Latin America Destination	5.54B	5B	5.42B	5.13B	5.05B	1.85B	3.51B	6.15B	6.72B	6.56B
Latin America Destination Growth	-	-9.82%	8.55%	-5.48%	-1.52%	-63.30%	89.31%	75.41%	9.25%	-2.37%
Atlantic Destination	5.15B	4.77B	5.06B	4.38B	4.62B	654M	965M	5.07B	6.21B	6.45B
Atlantic Destination Growth	-	-7.33%	6.08%	-13.50%	5.67%	-85.86%	47.55%	425.39%	22.39%	3.87%
Pacific Destination	1.54B	1.8B	2.11B	1.6B	1.46B	247M	139M	437M	996M	1.25B
Pacific Destination Growth	-	16.32%	17.71%	-24.22%	-8.99%	-83.06%	-43.72%	214.39%	127.92%	25.00%

Frequently Asked Questions

Valuation & Price

American Airlines Group Inc. (AAL) has a price-to-earnings (P/E) ratio of 12.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

American Airlines Group Inc. (AAL) reported $54.29B in revenue for fiscal year 2024. This represents a 126% increase from $23.98B in 2011.

American Airlines Group Inc. (AAL) grew revenue by 2.7% over the past year. Growth has been modest.

Yes, American Airlines Group Inc. (AAL) is profitable, generating $602.0M in net income for fiscal year 2024 (1.6% net margin).

Dividend & Returns

American Airlines Group Inc. (AAL) generated $882.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...