AAL American Airlines Group Inc.

Overview and Growth

American Airlines Group Inc. generated $54.63B of revenue in fiscal 2025, with net income of $111.00M and an operating cash inflow of $3.10B. The $54.63B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $54.21B in fiscal 2024, revenue recorded a 0.8% year-over-year increase. On a per-share basis, diluted EPS was $0.17, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 86.3% decrease from fiscal 2024 diluted EPS of $1.24. At period end, total assets were $61.77B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.88x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operating income was $1.47B, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 2.7% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $111.00M for the fiscal year. Net margin was 0.2%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $190.00M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 0.3%, relating income before taxes directly to revenue. Income tax expense totaled $79.00M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 41.6%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end assets was 0.2%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $61.77B of assets against $65.50B of liabilities and -$3.73B of equity, revealing how the asset base was financed. The company reported negative equity of -$3.73B, a capital deficit that reduces its ability to absorb losses through book equity. At period end, current assets of $12.21B compared with current liabilities of $24.49B, defining the company’s short-term resource position. Current assets covered only 0.5x of current liabilities, so current liabilities exceeded current assets at period end. The company held $1.06B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 4.3% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $28.28B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-assets relationship was 45.8%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 106.0%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 1.7%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 0.0% from $61.78B in fiscal 2024, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $3.10B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 27.92x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $3.78B of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 121.9% of operating cash flow, leaving the remainder available as free cash flow. The company recorded a $680.00M cash deficit after capital spending for the period. Free-cash-flow margin was -1.2%, reflecting a cash deficit equal to 1.2% of revenue after capital spending. The cash deficit after capital spending represented 1.1% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.