AAL

MKT CAP:$8B

American Airlines Group Inc.

Market Cap

$8B

Industrials·Airlines, Airports & Air Services·🇺🇸 United States·NASDAQ

Industrials·Airlines,·🇺🇸·NASDAQ

Stock Price

$11.78-$3.70 (-23.90%)

Apr 23, 2026

Company Details

American 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 An...

CEO

Robert D. Isom Jr.

IPO Date

Sep 27, 2005

Website

www.aa.com

Key Metrics TTM

Revenue

$54.6B

+0.8% YoY

Net Income

$111M

EPS (Diluted)

$0.17

Free Cash Flow

-$680M

Revenue / Share

$82.55

Gross Margin

19.2%

Operating Margin

2.7%

Net Margin

0.2%

FCF Margin

-1.2%

P/S

0.1x

P/E

71.7x

Earnings Reports

FY 2025

Feb 18, 2026

$54.6B+0.8%EPS $0.17

Q4 2025

Feb 18, 2026

$14.0B+2.5%EPS $0.15

Q3 2025

Oct 23, 2025

$13.7B+0.3%EPS -$0.17

Q2 2025

Jul 24, 2025

$14.4B+0.4%EPS $0.91

Q1 2025

Apr 24, 2025

$12.6B-0.2%EPS -$0.72

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$8.9B	$51M	-$1.7B
Q2 22	$13.4B	$2.9B	$1.0B
Q3 22	$13.5B	$2.8B	$930M
Q4 22	$13.2B	$3.3B	$1.4B
Q1 23	$12.2B	$2.3B	$438M
Q2 23	$14.1B	$4.1B	$2.2B
Q3 23	$13.5B	$2.7B	-$223M
Q4 23	$13.1B	$2.6B	$656M
Q1 24	$12.6B	$2.0B	$7M
Q2 24	$14.3B	$3.5B	$1.4B
Q3 24	$13.6B	$2.8B	$89M
Q4 24	$13.7B	$3.2B	$1.1B
Q1 25	$12.6B	$1.9B	-$270M
Q2 25	$14.4B	$3.4B	$1.1B
Q3 25	$13.7B	$2.4B	$151M
Q4 25	$14.0B	$2.8B	$452M

Valuation

Quarter	P/S	P/E
Q1 22	0.2x	—
Q2 22	0.2x	—
Q3 22	0.2x	—
Q4 22	0.2x	62.7x
Q1 23	0.2x	4.5x
Q2 23	0.2x	3.0x
Q3 23	0.2x	5.0x
Q4 23	0.2x	9.7x
Q1 24	0.1x	15.9x
Q2 24	0.1x	—
Q3 24	0.1x	28.9x
Q4 24	0.1x	9.4x
Q1 25	0.1x	11.6x
Q2 25	0.1x	14.0x
Q3 25	0.1x	13.2x
Q4 25	0.1x	71.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$1.2B	$378M
Q2 22	$1.7B	$1.1B
Q3 22	-$593M	-$1.0B
Q4 22	-$158M	-$1.2B
Q1 23	$3.3B	$2.8B
Q2 23	$1.8B	$1.0B
Q3 23	$58M	-$451M
Q4 23	-$1.4B	-$2.2B
Q1 24	$2.2B	$1.4B
Q2 24	$1.1B	$477M
Q3 24	$277M	-$191M
Q4 24	$398M	-$342M
Q1 25	$2.5B	$1.6B
Q2 25	$963M	$464M
Q3 25	-$46M	-$872M
Q4 25	-$274M	-$1.9B

Capital Expenditures

Quarter	CapEx
Q1 22	$807M
Q2 22	$598M
Q3 22	$455M
Q4 22	$1.0B
Q1 23	$505M
Q2 23	$739M
Q3 23	$509M
Q4 23	$843M
Q1 24	$824M
Q2 24	$651M
Q3 24	$468M
Q4 24	$740M
Q1 25	$824M
Q2 25	$499M
Q3 25	$826M
Q4 25	$1.6B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+122.0%	+99.5%
Q2 22	+79.5%	+76.3%
Q3 22	+50.1%	+49.7%
Q4 22	+39.9%	+15.7%
Q1 23	+37.0%	+10.6%
Q2 23	+4.7%	-4.1%
Q3 23	+0.1%	+9.4%
Q4 23	-1.0%	+5.1%
Q1 24	+3.1%	+6.9%
Q2 24	+2.0%	+8.9%
Q3 24	+1.2%	-1.1%
Q4 24	+4.6%	+1.0%
Q1 25	-0.2%	+2.1%
Q2 25	+0.4%	+2.4%
Q3 25	+0.3%	-0.1%
Q4 25	+2.5%	+8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$78M	0.6%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$102M	0.8%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$130M	1.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	S&M
Q1 22	$332M
Q2 22	$504M
Q3 22	$495M
Q4 22	$484M
Q1 23	$438M
Q2 23	$489M
Q3 23	$430M
Q4 23	$442M
Q1 24	$408M
Q2 24	$456M
Q3 24	$468M
Q4 24	$481M
Q1 25	$450M
Q2 25	$535M
Q3 25	$483M
Q4 25	$530M

Revenue Segments

Quarter	Cargo and Freight	Passenger	Product and Service, Other
Q1 22	$364M	$7.8B	$717M
Q2 22	$328M	$12.2B	$871M
Q3 22	$279M	$12.4B	$787M
Q4 22	$262M	$12.1B	$795M
Q1 23	$223M	$11.1B	$863M
Q2 23	$197M	$13.0B	$880M
Q3 23	$193M	$12.4B	$868M
Q4 23	$199M	$12.0B	$853M
Q1 24	$187M	$11.5B	$925M
Q2 24	$195M	$13.2B	$937M
Q3 24	$202M	$12.5B	$922M
Q4 24	$220M	$12.4B	$1.0B
Q1 25	$189M	$11.4B	$971M
Q2 25	$211M	$13.1B	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$401M	$12.1B	$12.5B
Q3 22	$332M	$10.9B	$11.2B
Q4 22	$440M	$8.5B	$9.0B
Q1 23	$452M	$11.0B	$11.5B
Q2 23	$614M	$11.4B	$12.1B
Q3 23	$577M	$10.0B	$10.6B
Q4 23	$578M	$7.0B	$7.6B
Q1 24	$604M	$7.7B	$8.3B
Q2 24	$605M	$7.8B	$8.4B
Q3 24	$834M	$7.6B	$8.5B
Q4 24	$804M	$6.2B	$7.0B
Q1 25	$835M	$6.6B	$7.5B
Q2 25	$833M	$7.7B	$8.6B
Q3 25	$835M	$6.0B	$6.9B
Q4 25	$1.7B	$4.9B	$6.6B
Q1 26	$903M	$6.4B	$7.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	650M	+0.1%	+2.3%
Q2 22	719M	+10.6%	+9.5%
Q3 22	716M	-0.4%	-0.7%
Q4 22	716M	+0.0%	+10.4%
Q1 23	657M	-8.3%	+1.1%
Q2 23	719M	+9.5%	+0.1%
Q3 23	654M	-9.1%	-8.6%
Q4 23	657M	+0.5%	-8.2%
Q1 24	656M	-0.2%	-0.1%
Q2 24	720M	+9.8%	+0.1%
Q3 24	657M	-8.7%	+0.5%
Q4 24	721M	+9.7%	+9.8%
Q1 25	659M	-8.7%	+0.5%
Q2 25	660M	+0.2%	-8.3%
Q3 25	660M	-0.0%	+0.4%
Q4 25	662M	+0.2%	-8.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$72.1K	123K
Q2 22	$108.8K	123K
Q3 22	$109.1K	123K
Q4 22	$101.7K	130K
Q1 23	$94.0K	130K
Q2 23	$108.4K	130K
Q3 23	$103.9K	130K
Q4 23	$98.9K	132K
Q1 24	$95.2K	132K
Q2 24	$108.5K	132K
Q3 24	$103.3K	132K
Q4 24	$102.5K	133K
Q1 25	$94.2K	133K
Q2 25	$108.0K	133K
Q3 25	$102.7K	133K
Q4 25	$100.6K	139K

Revenue / Employee