LATAM Airlines Group S.A. (LTM) 10-Year Financial Performance & Capital Metrics

LTM • • Industrial / General

IndustrialsAirlines & AirportsFull-Service Network AirlinesInternational Network Carriers

AboutLATAM Airlines Group S.A., together with its subsidiaries, provides passenger and cargo air transportation services in Chile, Peru, Ecuador, Colombia, Brazil, other Latin American countries, the Caribbean, North America, Europe, and Oceania. It offers other services, such as ground handling, courier, logistics, and maintenance services. As of December 31, 2023, the company provides passenger transport services to 148 destinations in 26 countries and cargo services to 166 destinations in 33 countries; and operated 333 fleet of aircraft. The company was formerly known as LAN Airlines S.A. and changed its name to LATAM Airlines Group S.A. in June 2012. LATAM Airlines Group S.A. was founded in 1929 and is headquartered in Santiago, Chile.Show more

Revenue $12.83B +10.2%
EBITDA $2.34B +82.9%
Net Income $977M +67.9%
EPS (Diluted) 3.20 +60.0%
Gross Margin 25.46% +4.9%
EBITDA Margin 18.24% +65.9%
Operating Margin 12.01% +29.6%
Net Margin 7.61% +52.3%
ROE 169.97% -31.5%
ROIC 19.82% +40.2%
Debt/Equity 10.05 -37.4%
Interest Coverage 1.88 +18.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 1592.5%
✓Strong 5Y profit CAGR of 38.7%
✓Strong Piotroski F-Score: 8/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 10.1x
✗Expensive at 25.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.6%

5Y4.97%

3Y37.99%

TTM7.38%

Profit (Net Income) CAGR

10Y-

5Y38.68%

3Y-

TTM66.49%

EPS CAGR

10Y-

5Y-38.03%

3Y-

TTM84.21%

ROCE

10Y Avg-3.33%

5Y Avg-11.85%

3Y Avg18.81%

Latest17.18%

Peer Comparison

International Network Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LTMLATAM Airlines Group S.A.	16.9B	58.88	18.40	10.24%	9.08%	113.68%	9.98%	10.05
CPACopa Holdings, S.A.	3.89B	128.92	8.86	-0.31%	18.83%	24.93%	8.75%	0.84
AEROGrupo Aeroméxico, S.A.B. de C.V.	2.9B	19.86		14.32%	10.99%		30.15%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.74B	8.99B	9.61B	9.9B	10.07B	3.92B	4.88B	9.36B	11.64B	12.83B
Revenue Growth %	-0.19%	-0.08%	0.07%	0.03%	0.02%	-0.61%	0.24%	0.92%	0.24%	0.1%
Cost of Goods Sold+	7.64B	6.97B	7.44B	7.77B	7.95B	3.65B	4.96B	8.1B	8.82B	9.57B
COGS % of Revenue	0.78%	0.78%	0.77%	0.79%	0.79%	0.93%	1.02%	0.87%	0.76%	0.75%
Gross Profit+	2.1B	2.02B	2.17B	2.12B	2.12B	275.19M	-79.47M	1.26B	2.82B	3.27B
Gross Margin %	0.22%	0.22%	0.23%	0.21%	0.21%	0.07%	-0.02%	0.13%	0.24%	0.25%
Gross Profit Growth %	-0.15%	-0.04%	0.07%	-0.02%	-0%	-0.87%	-1.29%	16.84%	1.24%	0.16%
Operating Expenses+	1.65B	1.53B	1.47B	1.18B	1.37B	4.81B	3.35B	47.46M	1.75B	1.73B
OpEx % of Revenue	0.17%	0.17%	0.15%	0.12%	0.14%	1.22%	0.69%	0.01%	0.15%	0.13%
Selling, General & Admin	1.66B	1.62B	1.64B	1.35B	1.32B	793.79M	731.31M	1B	1.27B	1.43B
SG&A % of Revenue	0.17%	0.18%	0.17%	0.14%	0.13%	0.2%	0.15%	0.11%	0.11%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-6.5M	-92.34M	-173.25M	-170.01M	50.4M	4.01B	2.62B	-955.57M	475.2M	295.4M
Operating Income+	448.54M	493.3M	706.78M	940.48M	753.13M	-4.53B	-3.43B	1.21B	1.08B	1.54B
Operating Margin %	0.05%	0.05%	0.07%	0.1%	0.07%	-1.15%	-0.7%	0.13%	0.09%	0.12%
Operating Income Growth %	-0.17%	0.1%	0.43%	0.33%	-0.2%	-7.02%	0.24%	1.35%	-0.11%	0.43%
EBITDA+	1.38B	1.41B	1.71B	1.72B	711.36M	-4.58B	-3.34B	2.26B	1.28B	2.34B
EBITDA Margin %	0.14%	0.16%	0.18%	0.17%	0.07%	-1.17%	-0.68%	0.24%	0.11%	0.18%
EBITDA Growth %	-0.09%	0.02%	0.21%	0%	-0.59%	-7.43%	0.27%	1.68%	-0.43%	0.83%
D&A (Non-Cash Add-back)	931.81M	916.42M	1B	774.97M	0	0	0	0	0	799.55M
EBIT	56.05M	493.3M	767.03M	944.52M	711.36M	-4.58B	-3.34B	2.26B	1.28B	1.54B
Net Interest Income+	-337.34M	-341.1M	-314.4M	-485.88M	-563.65M	-536.58M	-784.44M	-862M	-682.89M	-678.44M
Interest Income	74.87M	74.89M	78.65M	53.25M	26.28M	50.4M	21.11M	49.82M	0	142.41M
Interest Expense	412.21M	415.99M	393.04M	539.14M	589.93M	586.98M	805.54M	911.83M	682.89M	820.85M
Other Income/Expense	-805.65M	-219.43M	-332.56M	-524.82M	-611.21M	-575.64M	-658.42M	134.47M	-481.67M	-547.11M
Pretax Income+	-357.12M	273.87M	374.22M	415.67M	141.92M	-5.11B	-4.08B	1.35B	596.49M	993.93M
Pretax Margin %	-0.04%	0.03%	0.04%	0.04%	0.01%	-1.3%	-0.84%	0.14%	0.05%	0.08%
Income Tax+	-178.38M	163.2M	173.5M	83.78M	-53.7M	-550.19M	568.93M	8.91M	14.94M	16.49M
Effective Tax Rate %	0.61%	0.25%	0.42%	0.44%	1.34%	0.89%	1.14%	0.99%	0.98%	0.98%
Net Income+	-219.27M	69.22M	155.3M	181.94M	190.43M	-4.55B	-4.65B	1.34B	581.83M	976.97M
Net Margin %	-0.02%	0.01%	0.02%	0.02%	0.02%	-1.16%	-0.95%	0.14%	0.05%	0.08%
Net Income Growth %	-1%	1.32%	1.24%	0.17%	0.05%	-24.87%	-0.02%	1.29%	-0.57%	0.68%
Net Income (Continuing)	-178.73M	110.67M	154.39M	341.79M	195.61M	-4.56B	-4.65B	1.34B	581.55M	977.45M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	81.01M	88.64M	91.15M	79.94M	-1.6M	-6.67M	-10.36M	-11.56M	-12.03M	-11.94M
EPS (Diluted)+	-44.80	14.20	28.60	56.60	35.00	-840.00	-860.00	27.20	2.00	3.20
EPS Growth %	0.16%	1.32%	1.01%	0.98%	-0.38%	-25%	-0.02%	1.03%	-0.93%	0.6%
EPS (Basic)	-44.80	14.20	28.60	56.60	35.00	-840.00	-860.00	27.80	2.00	3.20
Diluted Shares Outstanding	4.89M	4.9M	5.44M	5.44M	5.44M	5.44M	5.44M	49.27M	302.22M	302.22M
Basic Shares Outstanding	4.89M	4.9M	5.44M	5.44M	5.44M	5.44M	5.44M	48.31M	302.22M	302.22M
Dividend Payout Ratio	-	0.6%	0.43%	0.4%	0.29%	-	-	-	-	0.18%

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+	2.82B	3.63B	3.75B	3.31B	4.02B	3.14B	2.61B	3.54B	4.2B	3.9B
Cash & Short-Term Investments	1.37B	1.63B	1.62B	1.41B	1.47B	1.74B	1.12B	1.35B	1.85B	2.01B
Cash Only	753.5M	949.33M	1.14B	1.08B	1.07B	1.7B	1.05B	1.22B	1.71B	1.96B
Short-Term Investments	613.78M	683.66M	479.68M	330.96M	393.19M	45.91M	78.05M	134.45M	139.85M	51.26M
Accounts Receivable	1.02B	1.28B	1.28B	1.49B	1.55B	763.37M	1.01B	1.21B	1.59B	1.37B
Days Sales Outstanding	38.36	51.84	48.73	54.82	56.26	71.01	75.34	47.23	49.8	38.91
Inventory	224.91M	241.36M	236.67M	279.34M	354.23M	323.57M	287.34M	477.79M	592.88M	438.53M
Days Inventory Outstanding	10.75	12.64	11.61	13.12	16.26	32.37	21.13	21.52	24.54	16.73
Other Current Assets	29.5M	350.56M	439.67M	50.62M	582.78M	280.72M	170.14M	455.77M	137.89M	46.33M
Total Non-Current Assets+	15.28B	15.57B	15.05B	14.26B	17.07B	12.51B	10.68B	9.67B	10.46B	11.35B
Property, Plant & Equipment	10.94B	10.5B	10.07B	9.95B	12.92B	10.73B	9.49B	8.41B	9.09B	10.19B
Fixed Asset Turnover	0.89x	0.86x	0.96x	0.99x	0.78x	0.37x	0.51x	1.11x	1.28x	1.26x
Goodwill	2.28B	2.71B	2.67B	2.29B	2.21B	0	0	0	0	0
Intangible Assets	1.32B	1.61B	1.62B	1.44B	1.45B	1.05B	1.02B	1.08B	1.15B	1B
Long-Term Investments	30.98M	45.28M	46.51M	21.06M	15.63M	11.64M	12.86M	14.24M	24.75M	21.56M
Other Non-Current Assets	330.29M	322.72M	286.81M	277.51M	240.93M	153.27M	140.39M	162.4M	191.31M	133.97M
Total Assets+	18.1B	19.2B	18.8B	17.57B	21.09B	15.65B	13.29B	13.21B	14.67B	15.25B
Asset Turnover	0.54x	0.47x	0.51x	0.56x	0.48x	0.25x	0.37x	0.71x	0.79x	0.84x
Asset Growth %	-0.12%	0.06%	-0.02%	-0.07%	0.2%	-0.26%	-0.15%	-0.01%	0.11%	0.04%
Total Current Liabilities+	5.64B	6.22B	5.84B	5.57B	6.96B	7.49B	12.32B	5.09B	5.69B	6.29B
Accounts Payable	791.91M	921.71M	1.67B	850.8M	1.18B	941.48M	900.25M	646.12M	817.51M	1.46B
Days Payables Outstanding	37.85	48.29	81.84	39.95	53.98	94.19	66.2	29.1	33.84	55.64
Short-Term Debt	1.19B	1.55B	1.01B	972.06M	827.01M	1.47B	3.67B	472.82M	183.68M	104.02M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	144.65M	51.66M	36.69M	-309.82M	90.56M	41.96M	52.69M	64.72M	28.34M	28.71M
Current Ratio	0.50x	0.58x	0.64x	0.59x	0.58x	0.42x	0.21x	0.69x	0.74x	0.62x
Quick Ratio	0.46x	0.54x	0.60x	0.54x	0.53x	0.38x	0.19x	0.60x	0.63x	0.55x
Cash Conversion Cycle	11.26	16.2	-21.5	27.99	18.54	9.2	30.27	39.65	40.5	-0
Total Non-Current Liabilities+	9.52B	8.79B	8.69B	8.25B	11B	10.6B	8.04B	8.09B	8.54B	8.25B
Long-Term Debt	6.5B	6.04B	5.77B	4.66B	4.64B	4.65B	2.58B	3B	2.88B	2.88B
Capital Lease Obligations	1.02B	754.32M	832.96M	3.69B	3.89B	3.15B	3.37B	2.97B	3.46B	3.63B
Deferred Tax Liabilities	811.57M	915.76M	949.7M	872.12M	616.8M	384.28M	341.01M	344.63M	382.36M	312.68M
Other Non-Current Liabilities	922.95M	870.89M	977.13M	-1.54B	999.11M	1.71B	1.24B	1.35B	1.47B	1.28B
Total Liabilities	15.16B	15.01B	14.53B	13.82B	17.96B	18.09B	20.36B	13.18B	14.23B	14.54B
Total Debt+	9.03B	8.6B	7.89B	7.26B	10.42B	10.96B	10.54B	6.87B	7.04B	7.15B
Net Debt	8.27B	7.66B	6.75B	6.18B	9.35B	9.27B	9.49B	5.65B	5.32B	5.19B
Debt / Equity	3.07x	2.06x	1.85x	1.94x	3.33x	-	-	223.48x	16.06x	10.05x
Debt / EBITDA	6.54x	6.10x	4.62x	4.23x	14.65x	-	-	3.04x	5.50x	3.05x
Net Debt / EBITDA	5.99x	5.43x	3.95x	3.60x	13.15x	-	-	2.50x	4.16x	2.22x
Interest Coverage	1.09x	1.19x	1.80x	1.74x	1.28x	-7.72x	-4.25x	1.33x	1.58x	1.88x
Total Equity+	2.94B	4.19B	4.27B	3.75B	3.13B	-2.44B	-7.07B	30.72M	438.27M	711.33M
Equity Growth %	-0.35%	0.42%	0.02%	-0.12%	-0.16%	-1.78%	-1.89%	1%	13.27%	0.62%
Book Value per Share	600.77	854.37	785.13	689.37	575.74	-449.37	-1300.24	0.62	1.45	2.35
Total Shareholders' Equity	2.86B	4.1B	4.18B	3.67B	3.13B	-2.44B	-7.06B	42.28M	450.3M	723.27M
Common Stock	2.55B	3.15B	3.15B	3.15B	3.15B	3.15B	3.15B	13.3B	5B	5B
Retained Earnings	317.95M	366.4M	475.12M	597.67M	352.27M	-4.19B	-8.84B	-7.5B	464.41M	1.15B
Treasury Stock	-178K	-178K	-178K	-178K	-178K	-178K	-178K	-178K	0	0
Accumulated OCI	-6.94M	580.87M	554.88M	-76.93M	-367.58M	-1.39B	-1.36B	-5.75B	-5.02B	-5.43B
Minority Interest	81.01M	88.64M	91.15M	79.94M	-1.6M	-6.67M	-10.36M	-11.56M	-12.03M	-11.94M

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+	1.72B	992.13M	1.67B	1.52B	2.83B	-494.7M	-184.1M	96.8M	2.26B	3.11B
Operating CF Margin %	0.18%	0.11%	0.17%	0.15%	0.28%	-0.13%	-0.04%	0.01%	0.19%	0.24%
Operating CF Growth %	0.29%	-0.42%	0.68%	-0.09%	0.86%	-1.18%	0.63%	1.53%	22.38%	0.37%
Net Income	-219.27M	69.22M	155.3M	309.81M	190.43M	-4.55B	-4.65B	1.34B	581.83M	976.97M
Depreciation & Amortization	897.67M	916.42M	774.79M	1.17B	1.23B	1.14B	988.78M	965.22M	998.34M	1.18B
Stock-Based Compensation	10.81M	8.09M	13.17M	-7.21M	3.3M	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.03B	-12.84M	723.47M	604.61M	1.4B	2.91B	3.47B	-2.21B	683.39M	945.7M
Working Capital Changes	0	0	0	0	0	0	0	0	0	0
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.74B	-443.03M	-287.42M	-358.37M	-1.42B	33.61M	-542.65M	-748.96M	-659.5M	-1.17B
Capital Expenditures	-1.62B	-782.96M	-490.98M	-756.91M	-1.42B	-399.7M	-675.76M	-830.65M	-795.79M	-1.33B
CapEx % of Revenue	0.17%	0.09%	0.05%	0.08%	0.14%	0.1%	0.14%	0.09%	0.07%	0.1%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	15.34M	-11.66M	-32.54M	231.45M	137.92M	73.24M	132.53M	56.42M	136.28M	155.8M
Cash from Financing+	-128.36M	-396.28M	-1.18B	-1.05B	-1.34B	1.12B	109.64M	854.96M	-1.15B	-1.56B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-35.03M	-41.22M	-66.64M	-72.62M	-55.12M	-571K	0	0	0	-174.84M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-483.4M	-627.45M	-37.84M	60.14M	-903.69M	-321.43M	-115.66M	2.24B	-582.85M	-791.5M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	93.28M	209.17M	1.18B	760.02M	1.41B	-894.39M	-859.86M	-733.86M	1.47B	1.69B
FCF Margin %	0.01%	0.02%	0.12%	0.08%	0.14%	-0.23%	-0.18%	-0.08%	0.13%	0.13%
FCF Growth %	1.57%	1.24%	4.62%	-0.35%	0.86%	-1.63%	0.04%	0.15%	3%	0.15%
FCF per Share	19.08	42.70	216.33	139.84	259.40	-164.56	-158.21	-14.90	4.86	5.58
FCF Conversion (FCF/Net Income)	-7.82x	14.33x	10.73x	8.34x	14.84x	0.11x	0.04x	0.07x	3.89x	3.18x
Interest Paid	0	0	0	0	0	0	0	0	594.23M	717.63M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-5.89%	1.94%	3.67%	4.54%	5.54%	-1323.8%	-	4359.27%	248.12%	169.97%
Return on Invested Capital (ROIC)	2.87%	3.21%	4.64%	6.74%	5.04%	-35.19%	-55.54%	22.42%	14.14%	19.82%
Gross Margin	21.59%	22.49%	22.59%	21.44%	21.04%	7.01%	-1.63%	13.45%	24.26%	25.46%
Net Margin	-2.25%	0.77%	1.62%	1.84%	1.89%	-115.86%	-95.16%	14.3%	5%	7.61%
Debt / Equity	3.07x	2.06x	1.85x	1.94x	3.33x	-	-	223.48x	16.06x	10.05x
Interest Coverage	1.09x	1.19x	1.80x	1.74x	1.28x	-7.72x	-4.25x	1.33x	1.58x	1.88x
FCF Conversion	-7.82x	14.33x	10.73x	8.34x	14.84x	0.11x	0.04x	0.07x	3.89x	3.18x
Revenue Growth	-19.46%	-7.72%	6.96%	2.93%	1.76%	-61.04%	24.47%	91.7%	24.33%	10.24%

Revenue by Segment

	2011	2012
All Others	161.41M	179.19M
All Others Growth	-	11.02%
Personal Training	147.06M	169.07M
Personal Training Growth	-	14.97%

Frequently Asked Questions

Valuation & Price

LATAM Airlines Group S.A. (LTM) has a price-to-earnings (P/E) ratio of 18.4x. This is roughly in line with market averages.

Growth & Financials

LATAM Airlines Group S.A. (LTM) reported $13.69B in revenue for fiscal year 2024. This represents a 147% increase from $5.55B in 2011.

LATAM Airlines Group S.A. (LTM) grew revenue by 10.2% over the past year. This is steady growth.

Yes, LATAM Airlines Group S.A. (LTM) is profitable, generating $1.24B in net income for fiscal year 2024 (7.6% net margin).

Dividend & Returns

Yes, LATAM Airlines Group S.A. (LTM) pays a dividend with a yield of 0.98%. This makes it attractive for income-focused investors.

LATAM Airlines Group S.A. (LTM) has a return on equity (ROE) of 170.0%. This is excellent, indicating efficient use of shareholder capital.

LATAM Airlines Group S.A. (LTM) generated $1.40B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

LATAM Airlines Group S.A. (LTM) 10-Year Financial Performance & Capital Metrics

LTM • • Industrial / General

IndustrialsAirlines & AirportsFull-Service Network AirlinesInternational Network Carriers

Revenue $12.83B +10.2%
EBITDA $2.34B +82.9%
Net Income $977M +67.9%
EPS (Diluted) 3.20 +60.0%
Gross Margin 25.46% +4.9%
EBITDA Margin 18.24% +65.9%
Operating Margin 12.01% +29.6%
Net Margin 7.61% +52.3%
ROE 169.97% -31.5%
ROIC 19.82% +40.2%
Debt/Equity 10.05 -37.4%
Interest Coverage 1.88 +18.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 1592.5%
✓Strong 5Y profit CAGR of 38.7%
✓Strong Piotroski F-Score: 8/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 10.1x
✗Expensive at 25.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.6%

5Y4.97%

3Y37.99%

TTM7.38%

Profit (Net Income) CAGR

10Y-

5Y38.68%

3Y-

TTM66.49%

EPS CAGR

10Y-

5Y-38.03%

3Y-

TTM84.21%

ROCE

10Y Avg-3.33%

5Y Avg-11.85%

3Y Avg18.81%

Latest17.18%

Peer Comparison

International Network Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LTMLATAM Airlines Group S.A.	16.9B	58.88	18.40	10.24%	9.08%	113.68%	9.98%	10.05
CPACopa Holdings, S.A.	3.89B	128.92	8.86	-0.31%	18.83%	24.93%	8.75%	0.84
AEROGrupo Aeroméxico, S.A.B. de C.V.	2.9B	19.86		14.32%	10.99%		30.15%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.74B	8.99B	9.61B	9.9B	10.07B	3.92B	4.88B	9.36B	11.64B	12.83B
Revenue Growth %	-0.19%	-0.08%	0.07%	0.03%	0.02%	-0.61%	0.24%	0.92%	0.24%	0.1%
Cost of Goods Sold+	7.64B	6.97B	7.44B	7.77B	7.95B	3.65B	4.96B	8.1B	8.82B	9.57B
COGS % of Revenue	0.78%	0.78%	0.77%	0.79%	0.79%	0.93%	1.02%	0.87%	0.76%	0.75%
Gross Profit+	2.1B	2.02B	2.17B	2.12B	2.12B	275.19M	-79.47M	1.26B	2.82B	3.27B
Gross Margin %	0.22%	0.22%	0.23%	0.21%	0.21%	0.07%	-0.02%	0.13%	0.24%	0.25%
Gross Profit Growth %	-0.15%	-0.04%	0.07%	-0.02%	-0%	-0.87%	-1.29%	16.84%	1.24%	0.16%
Operating Expenses+	1.65B	1.53B	1.47B	1.18B	1.37B	4.81B	3.35B	47.46M	1.75B	1.73B
OpEx % of Revenue	0.17%	0.17%	0.15%	0.12%	0.14%	1.22%	0.69%	0.01%	0.15%	0.13%
Selling, General & Admin	1.66B	1.62B	1.64B	1.35B	1.32B	793.79M	731.31M	1B	1.27B	1.43B
SG&A % of Revenue	0.17%	0.18%	0.17%	0.14%	0.13%	0.2%	0.15%	0.11%	0.11%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-6.5M	-92.34M	-173.25M	-170.01M	50.4M	4.01B	2.62B	-955.57M	475.2M	295.4M
Operating Income+	448.54M	493.3M	706.78M	940.48M	753.13M	-4.53B	-3.43B	1.21B	1.08B	1.54B
Operating Margin %	0.05%	0.05%	0.07%	0.1%	0.07%	-1.15%	-0.7%	0.13%	0.09%	0.12%
Operating Income Growth %	-0.17%	0.1%	0.43%	0.33%	-0.2%	-7.02%	0.24%	1.35%	-0.11%	0.43%
EBITDA+	1.38B	1.41B	1.71B	1.72B	711.36M	-4.58B	-3.34B	2.26B	1.28B	2.34B
EBITDA Margin %	0.14%	0.16%	0.18%	0.17%	0.07%	-1.17%	-0.68%	0.24%	0.11%	0.18%
EBITDA Growth %	-0.09%	0.02%	0.21%	0%	-0.59%	-7.43%	0.27%	1.68%	-0.43%	0.83%
D&A (Non-Cash Add-back)	931.81M	916.42M	1B	774.97M	0	0	0	0	0	799.55M
EBIT	56.05M	493.3M	767.03M	944.52M	711.36M	-4.58B	-3.34B	2.26B	1.28B	1.54B
Net Interest Income+	-337.34M	-341.1M	-314.4M	-485.88M	-563.65M	-536.58M	-784.44M	-862M	-682.89M	-678.44M
Interest Income	74.87M	74.89M	78.65M	53.25M	26.28M	50.4M	21.11M	49.82M	0	142.41M
Interest Expense	412.21M	415.99M	393.04M	539.14M	589.93M	586.98M	805.54M	911.83M	682.89M	820.85M
Other Income/Expense	-805.65M	-219.43M	-332.56M	-524.82M	-611.21M	-575.64M	-658.42M	134.47M	-481.67M	-547.11M
Pretax Income+	-357.12M	273.87M	374.22M	415.67M	141.92M	-5.11B	-4.08B	1.35B	596.49M	993.93M
Pretax Margin %	-0.04%	0.03%	0.04%	0.04%	0.01%	-1.3%	-0.84%	0.14%	0.05%	0.08%
Income Tax+	-178.38M	163.2M	173.5M	83.78M	-53.7M	-550.19M	568.93M	8.91M	14.94M	16.49M
Effective Tax Rate %	0.61%	0.25%	0.42%	0.44%	1.34%	0.89%	1.14%	0.99%	0.98%	0.98%
Net Income+	-219.27M	69.22M	155.3M	181.94M	190.43M	-4.55B	-4.65B	1.34B	581.83M	976.97M
Net Margin %	-0.02%	0.01%	0.02%	0.02%	0.02%	-1.16%	-0.95%	0.14%	0.05%	0.08%
Net Income Growth %	-1%	1.32%	1.24%	0.17%	0.05%	-24.87%	-0.02%	1.29%	-0.57%	0.68%
Net Income (Continuing)	-178.73M	110.67M	154.39M	341.79M	195.61M	-4.56B	-4.65B	1.34B	581.55M	977.45M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	81.01M	88.64M	91.15M	79.94M	-1.6M	-6.67M	-10.36M	-11.56M	-12.03M	-11.94M
EPS (Diluted)+	-44.80	14.20	28.60	56.60	35.00	-840.00	-860.00	27.20	2.00	3.20
EPS Growth %	0.16%	1.32%	1.01%	0.98%	-0.38%	-25%	-0.02%	1.03%	-0.93%	0.6%
EPS (Basic)	-44.80	14.20	28.60	56.60	35.00	-840.00	-860.00	27.80	2.00	3.20
Diluted Shares Outstanding	4.89M	4.9M	5.44M	5.44M	5.44M	5.44M	5.44M	49.27M	302.22M	302.22M
Basic Shares Outstanding	4.89M	4.9M	5.44M	5.44M	5.44M	5.44M	5.44M	48.31M	302.22M	302.22M
Dividend Payout Ratio	-	0.6%	0.43%	0.4%	0.29%	-	-	-	-	0.18%

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+	2.82B	3.63B	3.75B	3.31B	4.02B	3.14B	2.61B	3.54B	4.2B	3.9B
Cash & Short-Term Investments	1.37B	1.63B	1.62B	1.41B	1.47B	1.74B	1.12B	1.35B	1.85B	2.01B
Cash Only	753.5M	949.33M	1.14B	1.08B	1.07B	1.7B	1.05B	1.22B	1.71B	1.96B
Short-Term Investments	613.78M	683.66M	479.68M	330.96M	393.19M	45.91M	78.05M	134.45M	139.85M	51.26M
Accounts Receivable	1.02B	1.28B	1.28B	1.49B	1.55B	763.37M	1.01B	1.21B	1.59B	1.37B
Days Sales Outstanding	38.36	51.84	48.73	54.82	56.26	71.01	75.34	47.23	49.8	38.91
Inventory	224.91M	241.36M	236.67M	279.34M	354.23M	323.57M	287.34M	477.79M	592.88M	438.53M
Days Inventory Outstanding	10.75	12.64	11.61	13.12	16.26	32.37	21.13	21.52	24.54	16.73
Other Current Assets	29.5M	350.56M	439.67M	50.62M	582.78M	280.72M	170.14M	455.77M	137.89M	46.33M
Total Non-Current Assets+	15.28B	15.57B	15.05B	14.26B	17.07B	12.51B	10.68B	9.67B	10.46B	11.35B
Property, Plant & Equipment	10.94B	10.5B	10.07B	9.95B	12.92B	10.73B	9.49B	8.41B	9.09B	10.19B
Fixed Asset Turnover	0.89x	0.86x	0.96x	0.99x	0.78x	0.37x	0.51x	1.11x	1.28x	1.26x
Goodwill	2.28B	2.71B	2.67B	2.29B	2.21B	0	0	0	0	0
Intangible Assets	1.32B	1.61B	1.62B	1.44B	1.45B	1.05B	1.02B	1.08B	1.15B	1B
Long-Term Investments	30.98M	45.28M	46.51M	21.06M	15.63M	11.64M	12.86M	14.24M	24.75M	21.56M
Other Non-Current Assets	330.29M	322.72M	286.81M	277.51M	240.93M	153.27M	140.39M	162.4M	191.31M	133.97M
Total Assets+	18.1B	19.2B	18.8B	17.57B	21.09B	15.65B	13.29B	13.21B	14.67B	15.25B
Asset Turnover	0.54x	0.47x	0.51x	0.56x	0.48x	0.25x	0.37x	0.71x	0.79x	0.84x
Asset Growth %	-0.12%	0.06%	-0.02%	-0.07%	0.2%	-0.26%	-0.15%	-0.01%	0.11%	0.04%
Total Current Liabilities+	5.64B	6.22B	5.84B	5.57B	6.96B	7.49B	12.32B	5.09B	5.69B	6.29B
Accounts Payable	791.91M	921.71M	1.67B	850.8M	1.18B	941.48M	900.25M	646.12M	817.51M	1.46B
Days Payables Outstanding	37.85	48.29	81.84	39.95	53.98	94.19	66.2	29.1	33.84	55.64
Short-Term Debt	1.19B	1.55B	1.01B	972.06M	827.01M	1.47B	3.67B	472.82M	183.68M	104.02M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	144.65M	51.66M	36.69M	-309.82M	90.56M	41.96M	52.69M	64.72M	28.34M	28.71M
Current Ratio	0.50x	0.58x	0.64x	0.59x	0.58x	0.42x	0.21x	0.69x	0.74x	0.62x
Quick Ratio	0.46x	0.54x	0.60x	0.54x	0.53x	0.38x	0.19x	0.60x	0.63x	0.55x
Cash Conversion Cycle	11.26	16.2	-21.5	27.99	18.54	9.2	30.27	39.65	40.5	-0
Total Non-Current Liabilities+	9.52B	8.79B	8.69B	8.25B	11B	10.6B	8.04B	8.09B	8.54B	8.25B
Long-Term Debt	6.5B	6.04B	5.77B	4.66B	4.64B	4.65B	2.58B	3B	2.88B	2.88B
Capital Lease Obligations	1.02B	754.32M	832.96M	3.69B	3.89B	3.15B	3.37B	2.97B	3.46B	3.63B
Deferred Tax Liabilities	811.57M	915.76M	949.7M	872.12M	616.8M	384.28M	341.01M	344.63M	382.36M	312.68M
Other Non-Current Liabilities	922.95M	870.89M	977.13M	-1.54B	999.11M	1.71B	1.24B	1.35B	1.47B	1.28B
Total Liabilities	15.16B	15.01B	14.53B	13.82B	17.96B	18.09B	20.36B	13.18B	14.23B	14.54B
Total Debt+	9.03B	8.6B	7.89B	7.26B	10.42B	10.96B	10.54B	6.87B	7.04B	7.15B
Net Debt	8.27B	7.66B	6.75B	6.18B	9.35B	9.27B	9.49B	5.65B	5.32B	5.19B
Debt / Equity	3.07x	2.06x	1.85x	1.94x	3.33x	-	-	223.48x	16.06x	10.05x
Debt / EBITDA	6.54x	6.10x	4.62x	4.23x	14.65x	-	-	3.04x	5.50x	3.05x
Net Debt / EBITDA	5.99x	5.43x	3.95x	3.60x	13.15x	-	-	2.50x	4.16x	2.22x
Interest Coverage	1.09x	1.19x	1.80x	1.74x	1.28x	-7.72x	-4.25x	1.33x	1.58x	1.88x
Total Equity+	2.94B	4.19B	4.27B	3.75B	3.13B	-2.44B	-7.07B	30.72M	438.27M	711.33M
Equity Growth %	-0.35%	0.42%	0.02%	-0.12%	-0.16%	-1.78%	-1.89%	1%	13.27%	0.62%
Book Value per Share	600.77	854.37	785.13	689.37	575.74	-449.37	-1300.24	0.62	1.45	2.35
Total Shareholders' Equity	2.86B	4.1B	4.18B	3.67B	3.13B	-2.44B	-7.06B	42.28M	450.3M	723.27M
Common Stock	2.55B	3.15B	3.15B	3.15B	3.15B	3.15B	3.15B	13.3B	5B	5B
Retained Earnings	317.95M	366.4M	475.12M	597.67M	352.27M	-4.19B	-8.84B	-7.5B	464.41M	1.15B
Treasury Stock	-178K	-178K	-178K	-178K	-178K	-178K	-178K	-178K	0	0
Accumulated OCI	-6.94M	580.87M	554.88M	-76.93M	-367.58M	-1.39B	-1.36B	-5.75B	-5.02B	-5.43B
Minority Interest	81.01M	88.64M	91.15M	79.94M	-1.6M	-6.67M	-10.36M	-11.56M	-12.03M	-11.94M

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+	1.72B	992.13M	1.67B	1.52B	2.83B	-494.7M	-184.1M	96.8M	2.26B	3.11B
Operating CF Margin %	0.18%	0.11%	0.17%	0.15%	0.28%	-0.13%	-0.04%	0.01%	0.19%	0.24%
Operating CF Growth %	0.29%	-0.42%	0.68%	-0.09%	0.86%	-1.18%	0.63%	1.53%	22.38%	0.37%
Net Income	-219.27M	69.22M	155.3M	309.81M	190.43M	-4.55B	-4.65B	1.34B	581.83M	976.97M
Depreciation & Amortization	897.67M	916.42M	774.79M	1.17B	1.23B	1.14B	988.78M	965.22M	998.34M	1.18B
Stock-Based Compensation	10.81M	8.09M	13.17M	-7.21M	3.3M	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.03B	-12.84M	723.47M	604.61M	1.4B	2.91B	3.47B	-2.21B	683.39M	945.7M
Working Capital Changes	0	0	0	0	0	0	0	0	0	0
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.74B	-443.03M	-287.42M	-358.37M	-1.42B	33.61M	-542.65M	-748.96M	-659.5M	-1.17B
Capital Expenditures	-1.62B	-782.96M	-490.98M	-756.91M	-1.42B	-399.7M	-675.76M	-830.65M	-795.79M	-1.33B
CapEx % of Revenue	0.17%	0.09%	0.05%	0.08%	0.14%	0.1%	0.14%	0.09%	0.07%	0.1%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	15.34M	-11.66M	-32.54M	231.45M	137.92M	73.24M	132.53M	56.42M	136.28M	155.8M
Cash from Financing+	-128.36M	-396.28M	-1.18B	-1.05B	-1.34B	1.12B	109.64M	854.96M	-1.15B	-1.56B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-35.03M	-41.22M	-66.64M	-72.62M	-55.12M	-571K	0	0	0	-174.84M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-483.4M	-627.45M	-37.84M	60.14M	-903.69M	-321.43M	-115.66M	2.24B	-582.85M	-791.5M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	93.28M	209.17M	1.18B	760.02M	1.41B	-894.39M	-859.86M	-733.86M	1.47B	1.69B
FCF Margin %	0.01%	0.02%	0.12%	0.08%	0.14%	-0.23%	-0.18%	-0.08%	0.13%	0.13%
FCF Growth %	1.57%	1.24%	4.62%	-0.35%	0.86%	-1.63%	0.04%	0.15%	3%	0.15%
FCF per Share	19.08	42.70	216.33	139.84	259.40	-164.56	-158.21	-14.90	4.86	5.58
FCF Conversion (FCF/Net Income)	-7.82x	14.33x	10.73x	8.34x	14.84x	0.11x	0.04x	0.07x	3.89x	3.18x
Interest Paid	0	0	0	0	0	0	0	0	594.23M	717.63M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-5.89%	1.94%	3.67%	4.54%	5.54%	-1323.8%	-	4359.27%	248.12%	169.97%
Return on Invested Capital (ROIC)	2.87%	3.21%	4.64%	6.74%	5.04%	-35.19%	-55.54%	22.42%	14.14%	19.82%
Gross Margin	21.59%	22.49%	22.59%	21.44%	21.04%	7.01%	-1.63%	13.45%	24.26%	25.46%
Net Margin	-2.25%	0.77%	1.62%	1.84%	1.89%	-115.86%	-95.16%	14.3%	5%	7.61%
Debt / Equity	3.07x	2.06x	1.85x	1.94x	3.33x	-	-	223.48x	16.06x	10.05x
Interest Coverage	1.09x	1.19x	1.80x	1.74x	1.28x	-7.72x	-4.25x	1.33x	1.58x	1.88x
FCF Conversion	-7.82x	14.33x	10.73x	8.34x	14.84x	0.11x	0.04x	0.07x	3.89x	3.18x
Revenue Growth	-19.46%	-7.72%	6.96%	2.93%	1.76%	-61.04%	24.47%	91.7%	24.33%	10.24%

Revenue by Segment

	2011	2012
All Others	161.41M	179.19M
All Others Growth	-	11.02%
Personal Training	147.06M	169.07M
Personal Training Growth	-	14.97%

Frequently Asked Questions

Valuation & Price

LATAM Airlines Group S.A. (LTM) has a price-to-earnings (P/E) ratio of 18.4x. This is roughly in line with market averages.

Growth & Financials

LATAM Airlines Group S.A. (LTM) reported $13.69B in revenue for fiscal year 2024. This represents a 147% increase from $5.55B in 2011.

LATAM Airlines Group S.A. (LTM) grew revenue by 10.2% over the past year. This is steady growth.

Yes, LATAM Airlines Group S.A. (LTM) is profitable, generating $1.24B in net income for fiscal year 2024 (7.6% net margin).

Dividend & Returns

Yes, LATAM Airlines Group S.A. (LTM) pays a dividend with a yield of 0.98%. This makes it attractive for income-focused investors.

LATAM Airlines Group S.A. (LTM) has a return on equity (ROE) of 170.0%. This is excellent, indicating efficient use of shareholder capital.

LATAM Airlines Group S.A. (LTM) generated $1.40B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.