American Airlines Group Inc
AAL—
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American Airlines Group Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity of -4.0B with 36.1B total debt creates 4.6x EV/Market Cap ratio - equity is a call option on operational improvement[Total Equity]
- Interest expense of 1.8B TTM consumes 78% of operating income (2.3B) - debt service dominates capital allocation[Interest Expense]
- Gross profit down 14.5% YoY while revenue flat (+0.3%) - cost pressures accelerating margin compression[Gross Profit 1Y Growth]
Watch Triggers
- Interest Expense: Exceeds 85% of operating income — Signals debt spiral where operations can't service obligations
- Free Cash Flow TTM: Falls below 500M or turns negative — Eliminates deleveraging optionality, forces equity dilution or asset sales
- Gross Margin TTM: Drops below 18% — Current 20% already compressing - further erosion threatens debt covenants
Bull Case
P/E of 15.2x and P/S of 0.18x represent deep value if margins stabilize - trading at 32% of industry median P/S (0.57x)
PE RatioPS Ratio
Operating cash flow of 3.8B TTM demonstrates core business generates cash despite balance sheet stress
Cash Flow TTMAsset Turnover
Bear Case
Negative tangible book value of -10.1B means creditors own the upside - equity holders subordinated to 36B debt stack
Tangible Book ValueTotal Debt
Working capital deficit of -11.4B with only 835M cash creates refinancing dependency in any downturn
Working CapitalCash and Equivalents
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Debt reduction trajectory determines equity value - 882M FCF vs 36B debt requires 40+ years at current pace
1-3yhigh
- FCF of 882M TTM barely covers 3% of total debt
- Net debt of 27.9B exceeds market cap by 2.8x
- No dividend capacity constrains equity returns
Total Debt 36.1B vs FCF 882M TTMInterest Expense 1.8B TTM (2x net income)Negative equity -4.0B
Valuation Context
Caveats
Public Strategies Rankings
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AAL Fundamentals
Transportation and Warehousing → Air Transportation
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$7.17B | — | ||
$43.1B | — | ||
64 | — | ||
$54.63B | +0.8% | — | |
$0.17 | -80.6% | — | |
2.98% | -3.0% | — | |
0.20% | -1.4% | — | |
$-1.79B | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
AAL Dividend History
23 dividends
2020
$0.100002/04/20$0.1000
2019
$0.400011/05/19$0.1000
08/06/19$0.1000
05/07/19$0.1000
02/05/19$0.1000
2018
$0.400011/05/18$0.1000
08/06/18$0.1000
05/07/18$0.1000
02/05/18$0.1000
2017
$0.400011/10/17$0.1000
08/10/17$0.1000
05/12/17$0.1000
02/09/17$0.1000
2016
$0.400011/03/16$0.1000
08/03/16$0.1000
05/02/16$0.1000
02/08/16$0.1000
2015
$0.400011/03/15$0.1000
08/06/15$0.1000
04/30/15$0.1000
02/05/15$0.1000
2014
$0.200010/30/14$0.1000
07/31/14$0.1000
AAL Stock Splits
1 stock split
12/09/132:1 split
AAL SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/18/26 | 12/31/25 | Unknown | |
10/23/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/19/25 | 12/31/24 | Unknown | |
10/24/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/21/24 | 12/31/23 | 10-K | |
10/19/23 | 09/30/23 | 10-Q | |
07/20/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
10/20/22 | 09/30/22 | 10-Q | |
07/21/22 | 06/30/22 | 10-Q | |
04/21/22 | 03/31/22 | 10-Q | |
02/22/22 | 12/31/21 | 10-K | |
10/21/21 | 09/30/21 | 10-Q | |
07/22/21 | 06/30/21 | 10-Q | |
04/22/21 | 03/31/21 | 10-Q | |
02/17/21 | 12/31/20 | 10-K | |
10/22/20 | 09/30/20 | 10-Q | |
07/23/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/19/20 | 12/31/19 | 10-K | |
10/24/19 | 09/30/19 | 10-Q | |
07/25/19 | 06/30/19 | 10-Q | |
04/26/19 | 03/31/19 | 10-Q | |
02/25/19 | 12/31/18 | 10-K | |
10/25/18 | 09/30/18 | 10-Q | |
07/26/18 | 06/30/18 | 10-Q | |
04/26/18 | 03/31/18 | 10-Q | |
02/21/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
07/28/17 | 06/30/17 | 10-Q | |
04/27/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
10/20/16 | 09/30/16 | 10-Q | |
07/22/16 | 06/30/16 | 10-Q | |
04/22/16 | 03/31/16 | 10-Q | |
02/24/16 | 12/31/15 | 10-K | |
10/23/15 | 09/30/15 | 10-Q | |
07/24/15 | 06/30/15 | 10-Q | |
04/24/15 | 03/31/15 | 10-Q | |
02/25/15 | 12/31/14 | 10-K | |
10/23/14 | 09/30/14 | 10-Q | |
07/24/14 | 06/30/14 | 10-Q | |
04/24/14 | 03/31/14 | 10-Q | |
02/28/14 | 12/31/13 | 10-K | |
10/17/13 | 09/30/13 | 10-Q | |
07/18/13 | 06/30/13 | 10-Q | |
04/18/13 | 03/31/13 | 10-Q | |
02/20/13 | 12/31/12 | 10-K | |
10/17/12 | 09/30/12 | 10-Q | |
07/18/12 | 06/30/12 | 10-Q | |
04/19/12 | 03/31/12 | 10-Q | |
02/15/12 | 12/31/11 | 10-K | |
10/19/11 | 09/30/11 | 10-Q | |
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02/16/11 | 12/31/10 | 10-K | |
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02/19/09 | 12/31/08 | 10-K | |
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02/28/02 | 12/31/01 | 10-K405 | |
10/25/01 | 09/30/01 | 10-Q | |
08/13/01 | 06/30/01 | 10-Q | |
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03/22/01 | 12/31/00 | 10-K405 | |
10/26/00 | 09/30/00 | 10-Q | |
07/28/00 | 06/30/00 | 10-Q | |
05/11/00 | 03/31/00 | 10-Q |