Stock Analysis on Net

American Airlines Group Inc. (NASDAQ:AAL)

This company has been moved to the archive! The financial data has not been updated since February 21, 2024.

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel

Short-term Activity Ratios (Summary)

American Airlines Group Inc., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Turnover Ratios
Inventory turnover 22.00 21.49 16.65 10.74 24.73
Receivables turnover 26.06 22.91 19.86 12.92 26.15
Payables turnover 22.43 22.79 16.86 14.50 22.20
Working capital turnover
Average No. Days
Average inventory processing period 17 17 22 34 15
Add: Average receivable collection period 14 16 18 28 14
Operating cycle 31 33 40 62 29
Less: Average payables payment period 16 16 22 25 16
Cash conversion cycle 15 17 18 37 13

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. American Airlines Group Inc. inventory turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. American Airlines Group Inc. receivables turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. American Airlines Group Inc. payables turnover ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. American Airlines Group Inc. number of days of receivables outstanding improved from 2021 to 2022 and from 2022 to 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period. American Airlines Group Inc. operating cycle improved from 2021 to 2022 and from 2022 to 2023.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. American Airlines Group Inc. cash conversion cycle improved from 2021 to 2022 and from 2022 to 2023.

Inventory Turnover

American Airlines Group Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 52,788 48,971 29,882 17,337 45,768
Aircraft fuel, spare parts and supplies, net 2,400 2,279 1,795 1,614 1,851
Short-term Activity Ratio
Inventory turnover1 22.00 21.49 16.65 10.74 24.73
Benchmarks
Inventory Turnover, Competitors2
FedEx Corp. 149.26 146.80 143.03 121.01 126.03
Union Pacific Corp. 32.46 33.57 35.11 30.62 28.91
United Parcel Service Inc. 97.28 112.87 135.69 136.50 145.00
Inventory Turnover, Sector
Transportation 99.78 105.15 110.34 97.56 95.15
Inventory Turnover, Industry
Industrials 3.89 3.99 3.87 3.61 3.94

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Inventory turnover = Operating revenues ÷ Aircraft fuel, spare parts and supplies, net
= 52,788 ÷ 2,400 = 22.00

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. American Airlines Group Inc. inventory turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Receivables Turnover

American Airlines Group Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 52,788 48,971 29,882 17,337 45,768
Accounts receivable, net 2,026 2,138 1,505 1,342 1,750
Short-term Activity Ratio
Receivables turnover1 26.06 22.91 19.86 12.92 26.15
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 8.85 7.88 6.96 6.85 7.65
Uber Technologies Inc. 10.95 11.47 7.16 10.38 11.65
Union Pacific Corp. 11.63 13.15 12.66 12.98 13.61
United Parcel Service Inc. 8.11 7.97 7.76 7.87 7.76
Receivables Turnover, Sector
Transportation 9.02 8.61 7.66 7.88 8.36
Receivables Turnover, Industry
Industrials 8.14 7.80 7.60 7.49 7.67

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Receivables turnover = Operating revenues ÷ Accounts receivable, net
= 52,788 ÷ 2,026 = 26.06

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. American Airlines Group Inc. receivables turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Payables Turnover

American Airlines Group Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 52,788 48,971 29,882 17,337 45,768
Accounts payable 2,353 2,149 1,772 1,196 2,062
Short-term Activity Ratio
Payables turnover1 22.43 22.79 16.86 14.50 22.20
Benchmarks
Payables Turnover, Competitors2
FedEx Corp. 23.43 23.20 21.86 21.17 23.00
Uber Technologies Inc. 28.43 27.00 10.87 21.93 26.50
Union Pacific Corp. 28.18 31.73 28.99 31.92 28.98
United Parcel Service Inc. 14.35 13.36 12.93 13.11 13.34
Payables Turnover, Sector
Transportation 19.24 18.26 16.37 16.89 17.98
Payables Turnover, Industry
Industrials 7.74 7.58 7.74 7.44 7.40

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Payables turnover = Operating revenues ÷ Accounts payable
= 52,788 ÷ 2,353 = 22.43

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. American Airlines Group Inc. payables turnover ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Working Capital Turnover

American Airlines Group Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current assets 13,572 15,269 17,336 11,095 8,206
Less: Current liabilities 22,062 21,496 19,006 16,569 18,311
Working capital (8,490) (6,227) (1,670) (5,474) (10,105)
 
Operating revenues 52,788 48,971 29,882 17,337 45,768
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 17.94 15.35 12.13 11.46 17.11
Uber Technologies Inc. 20.23 80.50 3.69 1.71
Union Pacific Corp. 476.41
United Parcel Service Inc. 52.36 24.61 13.21 26.45 43.84
Working Capital Turnover, Sector
Transportation 31.72 27.86 18.55 15.01 13.65
Working Capital Turnover, Industry
Industrials 11.44 9.67 6.90 4.47 10.00

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Working capital turnover = Operating revenues ÷ Working capital
= 52,788 ÷ -8,490 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

American Airlines Group Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Inventory turnover 22.00 21.49 16.65 10.74 24.73
Short-term Activity Ratio (no. days)
Average inventory processing period1 17 17 22 34 15
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
FedEx Corp. 2 2 3 3 3
Union Pacific Corp. 11 11 10 12 13
United Parcel Service Inc. 4 3 3 3 3
Average Inventory Processing Period, Sector
Transportation 4 3 3 4 4
Average Inventory Processing Period, Industry
Industrials 94 91 94 101 93

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 22.00 = 17

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

American Airlines Group Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Receivables turnover 26.06 22.91 19.86 12.92 26.15
Short-term Activity Ratio (no. days)
Average receivable collection period1 14 16 18 28 14
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 41 46 52 53 48
Uber Technologies Inc. 33 32 51 35 31
Union Pacific Corp. 31 28 29 28 27
United Parcel Service Inc. 45 46 47 46 47
Average Receivable Collection Period, Sector
Transportation 40 42 48 46 44
Average Receivable Collection Period, Industry
Industrials 45 47 48 49 48

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 26.06 = 14

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. American Airlines Group Inc. number of days of receivables outstanding improved from 2021 to 2022 and from 2022 to 2023.

Operating Cycle

American Airlines Group Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 17 17 22 34 15
Average receivable collection period 14 16 18 28 14
Short-term Activity Ratio
Operating cycle1 31 33 40 62 29
Benchmarks
Operating Cycle, Competitors2
FedEx Corp. 43 48 55 56 51
Union Pacific Corp. 42 39 39 40 40
United Parcel Service Inc. 49 49 50 49 50
Operating Cycle, Sector
Transportation 44 45 51 50 48
Operating Cycle, Industry
Industrials 139 138 142 150 141

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 17 + 14 = 31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. American Airlines Group Inc. operating cycle improved from 2021 to 2022 and from 2022 to 2023.

Average Payables Payment Period

American Airlines Group Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Payables turnover 22.43 22.79 16.86 14.50 22.20
Short-term Activity Ratio (no. days)
Average payables payment period1 16 16 22 25 16
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
FedEx Corp. 16 16 17 17 16
Uber Technologies Inc. 13 14 34 17 14
Union Pacific Corp. 13 12 13 11 13
United Parcel Service Inc. 25 27 28 28 27
Average Payables Payment Period, Sector
Transportation 19 20 22 22 20
Average Payables Payment Period, Industry
Industrials 47 48 47 49 49

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 22.43 = 16

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

American Airlines Group Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 17 17 22 34 15
Average receivable collection period 14 16 18 28 14
Average payables payment period 16 16 22 25 16
Short-term Activity Ratio
Cash conversion cycle1 15 17 18 37 13
Benchmarks
Cash Conversion Cycle, Competitors2
FedEx Corp. 27 32 38 39 35
Union Pacific Corp. 29 27 26 29 27
United Parcel Service Inc. 24 22 22 21 23
Cash Conversion Cycle, Sector
Transportation 25 25 29 28 28
Cash Conversion Cycle, Industry
Industrials 92 90 95 101 92

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 17 + 1416 = 15

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. American Airlines Group Inc. cash conversion cycle improved from 2021 to 2022 and from 2022 to 2023.