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.

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

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Historical Valuation Ratios (Summary)

American Airlines Group Inc., historical price multiples (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 11.78 4.66 4.33 4.75 79.81 7.16
Price to operating profit (P/OP) 3.19 1.99 2.32 2.23 6.31 36.02 3.94
Price to sales (P/S) 0.18 0.14 0.22 0.16 0.21 0.19 0.22 0.38 0.38 0.53 0.73 1.00 0.66 0.27 0.18 0.12 0.26
Price to book value (P/BV) 80.52

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. American Airlines Group Inc. P/E ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. American Airlines Group Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. American Airlines Group Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Price to Earnings (P/E)

American Airlines Group Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 654,756,816 653,540,550 653,362,436 652,862,508 651,430,518 649,900,887 649,845,927 649,514,848 649,160,117 647,514,522 647,457,831 641,383,123 639,675,800 508,631,777 508,561,163 422,894,501 426,058,744 438,057,971 445,270,728 444,835,115
Selected Financial Data (US$)
Net income (loss) (in millions) 19 (545) 1,338 10 803 483 476 (1,635) (931) 169 19 (1,250) (2,178) (2,399) (2,067) (2,241) 414 425 662 185
Earnings per share (EPS)2 1.26 2.46 4.03 2.71 0.19 -2.47 -2.96 -3.66 -3.07 -5.00 -8.97 -12.31 -13.89 -12.37 -6.82 -1.75 3.96 0.00 0.00 0.00
Share price1, 3 14.79 11.45 17.44 12.88 15.56 13.46 14.08 20.22 17.43 19.89 21.16 20.07 17.99 13.15 11.77 12.01 28.33 29.41 31.67 33.06
Valuation Ratio
P/E ratio4 11.78 4.66 4.33 4.75 79.81 7.16
Benchmarks
P/E Ratio, Competitors5
FedEx Corp. 16.11 17.14 12.45 11.20 14.80 11.50 12.86 13.14 15.07 23.08 31.59 34.80 33.43 568.30 100.48 82.00
Uber Technologies Inc. 89.56 97.47
Union Pacific Corp. 23.85 20.14 21.55 17.65 17.97 16.21 19.32 22.53 23.67 24.01 24.34 27.76 25.57 23.48 21.35 17.22 21.44
United Parcel Service Inc. 18.89 13.92 15.41 14.01 13.27 12.72 15.37 14.93 14.11 28.39 27.60 36.12 104.33 30.09 28.55 19.04 20.59

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
EPS = (Net income (loss)Q4 2023 + Net income (loss)Q3 2023 + Net income (loss)Q2 2023 + Net income (loss)Q1 2023) ÷ No. shares of common stock outstanding
= (19,000,000 + -545,000,000 + 1,338,000,000 + 10,000,000) ÷ 654,756,816 = 1.26

3 Closing price as at the filing date of American Airlines Group Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 14.79 ÷ 1.26 = 11.78

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. American Airlines Group Inc. P/E ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Price to Operating Profit (P/OP)

American Airlines Group Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 654,756,816 653,540,550 653,362,436 652,862,508 651,430,518 649,900,887 649,845,927 649,514,848 649,160,117 647,514,522 647,457,831 641,383,123 639,675,800 508,631,777 508,561,163 422,894,501 426,058,744 438,057,971 445,270,728 444,835,115
Selected Financial Data (US$)
Operating income (loss) (in millions) 656 (223) 2,163 438 1,383 930 1,017 (1,723) (780) 595 441 (1,315) (2,515) (2,871) (2,486) (2,549) 729 808 1,153 375
Operating profit per share2 4.63 5.75 7.52 5.77 2.47 -0.86 -1.37 -2.26 -1.63 -4.31 -9.67 -14.32 -16.29 -14.11 -6.88 0.33 7.19 0.00 0.00 0.00
Share price1, 3 14.79 11.45 17.44 12.88 15.56 13.46 14.08 20.22 17.43 19.89 21.16 20.07 17.99 13.15 11.77 12.01 28.33 29.41 31.67 33.06
Valuation Ratio
P/OP ratio4 3.19 1.99 2.32 2.23 6.31 36.02 3.94
Benchmarks
P/OP Ratio, Competitors5
FedEx Corp. 13.03 9.62 7.38 6.66 9.07 9.66 10.90 11.82 13.46 15.42 19.66 20.51 17.79 7.61 11.34 10.34 9.92
Uber Technologies Inc. 152.26 325.09
Union Pacific Corp. 16.75 14.11 15.20 12.56 12.68 11.53 13.58 15.79 16.53 16.70 16.84 18.84 17.46 15.91 14.61 11.83 14.83
United Parcel Service Inc. 13.86 12.08 13.27 12.19 11.70 10.32 12.38 12.08 14.20 16.72 16.10 19.92 18.23 17.73 16.56 10.94 11.72

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Operating profit per share = (Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023 + Operating income (loss)Q2 2023 + Operating income (loss)Q1 2023) ÷ No. shares of common stock outstanding
= (656,000,000 + -223,000,000 + 2,163,000,000 + 438,000,000) ÷ 654,756,816 = 4.63

3 Closing price as at the filing date of American Airlines Group Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 14.79 ÷ 4.63 = 3.19

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. American Airlines Group Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.

Price to Sales (P/S)

American Airlines Group Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 654,756,816 653,540,550 653,362,436 652,862,508 651,430,518 649,900,887 649,845,927 649,514,848 649,160,117 647,514,522 647,457,831 641,383,123 639,675,800 508,631,777 508,561,163 422,894,501 426,058,744 438,057,971 445,270,728 444,835,115
Selected Financial Data (US$)
Operating revenues (in millions) 13,062 13,482 14,055 12,189 13,188 13,462 13,422 8,899 9,427 8,969 7,478 4,008 4,027 3,173 1,622 8,515 11,313 11,911 11,960 10,584
Sales per share2 80.62 80.97 80.96 80.05 75.17 69.56 62.66 53.54 46.03 37.81 28.86 20.00 27.10 48.41 65.60 103.33 107.42 0.00 0.00 0.00
Share price1, 3 14.79 11.45 17.44 12.88 15.56 13.46 14.08 20.22 17.43 19.89 21.16 20.07 17.99 13.15 11.77 12.01 28.33 29.41 31.67 33.06
Valuation Ratio
P/S ratio4 0.18 0.14 0.22 0.16 0.21 0.19 0.22 0.38 0.38 0.53 0.73 1.00 0.66 0.27 0.18 0.12 0.26
Benchmarks
P/S Ratio, Competitors5
FedEx Corp. 0.71 0.55 0.44 0.42 0.61 0.64 0.71 0.77 0.94 0.89 1.04 0.87 0.62 0.36 0.62 0.65 0.64
Uber Technologies Inc. 4.53 2.86 2.74 2.26 2.16 1.98 2.47 2.46 3.90 5.95 6.34 8.09 9.07 6.57 4.42 3.98 4.00
Union Pacific Corp. 6.31 5.31 5.86 4.93 5.05 4.69 5.65 6.77 7.08 7.01 6.96 7.50 7.00 6.43 5.88 4.79 5.85
United Parcel Service Inc. 1.39 1.28 1.60 1.53 1.53 1.41 1.68 1.63 1.87 1.94 1.81 2.09 1.66 1.72 1.61 1.09 1.23

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Sales per share = (Operating revenuesQ4 2023 + Operating revenuesQ3 2023 + Operating revenuesQ2 2023 + Operating revenuesQ1 2023) ÷ No. shares of common stock outstanding
= (13,062,000,000 + 13,482,000,000 + 14,055,000,000 + 12,189,000,000) ÷ 654,756,816 = 80.62

3 Closing price as at the filing date of American Airlines Group Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 14.79 ÷ 80.62 = 0.18

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. American Airlines Group Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Price to Book Value (P/BV)

American Airlines Group Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 654,756,816 653,540,550 653,362,436 652,862,508 651,430,518 649,900,887 649,845,927 649,514,848 649,160,117 647,514,522 647,457,831 641,383,123 639,675,800 508,631,777 508,561,163 422,894,501 426,058,744 438,057,971 445,270,728 444,835,115
Selected Financial Data (US$)
Stockholders’ equity (deficit) (in millions) (5,202) (5,136) (4,385) (5,771) (5,799) (7,893) (8,422) (8,940) (7,340) (7,437) (7,667) (7,945) (6,867) (5,528) (3,169) (2,636) (118) 160 (22) (636)
Book value per share (BVPS)2 -7.94 -7.86 -6.71 -8.84 -8.90 -12.14 -12.96 -13.76 -11.31 -11.49 -11.84 -12.39 -10.74 -10.87 -6.23 -6.23 -0.28 0.37 -0.05 -1.43
Share price1, 3 14.79 11.45 17.44 12.88 15.56 13.46 14.08 20.22 17.43 19.89 21.16 20.07 17.99 13.15 11.77 12.01 28.33 29.41 31.67 33.06
Valuation Ratio
P/BV ratio4 80.52
Benchmarks
P/BV Ratio, Competitors5
FedEx Corp. 2.45 2.07 1.72 1.60 2.27 2.41 2.53 2.75 3.26 3.18 3.68 3.19 2.35 1.32 2.28 2.49 2.49 2.38 2.50 3.51
Uber Technologies Inc. 15.02 10.98 11.08 10.20 9.36 9.20 9.47 5.91 4.71 6.34 5.73 6.42 8.24 8.85 6.04 5.01 3.99 3.17 4.28
Union Pacific Corp. 10.29 9.16 10.99 9.92 10.34 9.76 10.41 12.90 10.90 10.68 10.01 8.91 8.07 7.33 7.22 6.46 7.00 6.31 6.76 7.05
United Parcel Service Inc. 7.32 6.21 7.71 7.54 7.75 8.39 10.31 10.42 12.76 15.21 15.53 26.13 213.26 24.66 28.64 24.78 27.98 18.04 23.36 26.37

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
BVPS = Stockholders’ equity (deficit) ÷ No. shares of common stock outstanding
= -5,202,000,000 ÷ 654,756,816 = -7.94

3 Closing price as at the filing date of American Airlines Group Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 14.79 ÷ -7.94 =

5 Click competitor name to see calculations.