AALNasdaqAir Transportation, ScheduledFiscal year ends December 31
American Airlines Group Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 22, 2026
$11.68−0.20 (-1.68%)
Close on Oct 19, 2026
- Market cap
- $7.74B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
2.7%+62.8 pts over 5 years
Net margin
0.2%+51.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.8% | +3.7% | +25.8% | +2.9% | |
| Operating income | -43.9% | -3.0% | – | -13.4% | |
| Net income | -86.9% | -4.4% | – | -34.5% | |
| EPS, diluted | -86.3% | -3.6% | – | -34.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 96.6% | 254.4% | -2.9% | |
| Return on assets | 5.2% | -14.6% | 0.2% | |
| Current ratio | 0.74 | 0.67 | 0.50 | |
| Debt to equity | -85.72 | -4.73 | -7.75 | |
| Net debt to EBITDA | 3.44× | -4.00× | 7.62× | |
| Interest coverage | 5.1× | -8.5× | 0.9× | |
| Capex to revenue | 14.3% | 11.3% | 6.9% | |
| Diluted shares | 556M | 484M | 661M |
Where the cash went
Fiscal 2021 to 2025, five years combined
American Airlines generated $13.76B from operations and spent $11.85B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$13.76B
Used
$11.85B
Capital expenditure$11.81B100%Dividends$00%Share buybacks$39.00M0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.2%
×Asset turnover0.88×
×Equity multiplier-16.04×
=Return on equity, FY2025-2.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.2% | 0.88× | -16.04× | -2.9% |
| FY2024 | 1.6% | 0.87× | -13.60× | -18.4% |
| FY2023 | 1.6% | 0.83× | -11.61× | -14.9% |
| FY2022 | 0.3% | 0.75× | -9.98× | -1.9% |
| FY2021 | -6.7% | 0.47× | -9.04× | 28.1% |
| FY2020 | -51.2% | 0.28× | -17.47× | 254.4% |
| FY2019 | 3.7% | 0.76× | -420.12× | -1174.9% |
| FY2018 | 3.2% | 0.79× | -119.46× | -297.6% |
| FY2017 | 3.0% | 0.82× | -97.80× | -241.0% |
| FY2016 | 6.4% | 0.81× | 18.63× | 96.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$111.00M
- Cash generatingOperating cash flow above zero$3.10B
- Return on assets improvedROA up on the prior year1.3% → 0.2%
- Earnings backed by cashOperating cash flow above net income$3.10B vs $111.00M
- Less leverageLong-term debt to assets fell40.7% → 40.9%
- Better liquidityCurrent ratio rose0.54 → 0.50
- No dilutionShare count did not rise721M → 661M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.86 → 0.88