Financials American Airlines Group Inc.

Equities

AAL

US02376R1023

Airlines

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14.47 ^USD	-0.96%		14.66	+1.31%

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Projected Income Statement: American Airlines Group Inc.

income-statement-evolution-chart AMERICAN-AIRLINES-GROUP-I

Fiscal Period: Dezember	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	45,768	17,337	29,882	48,971	52,788	53,676	56,252	59,250
Change	-	-62.12%	72.36%	63.88%	7.79%	1.68%	4.8%	5.33%
EBITDA ¹	7,014	-8,006	-2,070	5,177	7,318	6,165	6,520	7,217
Change	-	-	-74.14%	-	41.36%	-15.76%	5.77%	10.68%
EBIT ¹	3,706	-11,387	-5,514	1,805	4,013	2,802	3,187	3,627
Change	-	-	-51.58%	-	122.33%	-30.18%	13.75%	13.78%
Interest Paid ¹	-1,095	-1,227	-1,800	-1,962	-2,145	-1,841	-1,521	-1,368
Earnings before Tax (EBT) ¹	2,256	-11,453	-2,548	186	1,121	733.1	2,266	2,593
Change	-	-	-77.75%	-	502.69%	-34.6%	209.05%	14.45%
Net income ¹	1,686	-8,885	-1,993	127	822	528.6	1,419	1,746
Change	-	-	-77.57%	-	547.24%	-35.69%	168.43%	23.02%
Announcement Date	1/23/20	1/28/21	1/20/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	11,313	8,515	1,622	3,173	4,027	4,008	7,478	8,969	9,427	8,899	13,422	13,462	13,189	12,189	14,055	13,482	13,062	12,570	14,334	13,647	13,129	13,034	14,927	14,384	13,842	13,883	15,834	15,108
Change	-	-24.73%	-80.95%	95.62%	26.91%	-0.47%	86.58%	19.94%	5.11%	-5.6%	50.83%	0.3%	-2.03%	-7.58%	15.31%	-4.08%	-3.12%	-3.77%	14.03%	-4.79%	-3.8%	-0.72%	14.52%	-3.64%	-3.77%	0.3%	14.05%	-4.59%
EBITDA ¹	1,719	-430	-3,325	-2,556	-1,695	-2,409	-177	376	139	-721	1,861	1,807	2,231	1,281	2,996	1,557	1,483	875	2,253	1,425	1,559	1,091	2,364	1,587	1,455	-	-	-
Change	-	-	673.26%	-23.13%	-33.69%	42.12%	-92.65%	-	-63.03%	-	-	-2.9%	23.46%	-42.58%	133.88%	-48.03%	-4.75%	-41%	157.49%	-36.75%	9.38%	-30.01%	116.65%	-32.84%	-8.34%	-100%	-	-
EBIT ¹	876	-1,324	-4,158	-3,390	-2,515	-3,238	-1,014	-462	-800	-1,566	1,012	969	1,389	451	2,169	728	665	77	1,384	643	719.1	323.5	1,569	731.3	594.6	380.2	1,721	706.5
Change	-	-	214.05%	-18.47%	-25.81%	28.75%	-68.68%	-54.44%	73.16%	95.75%	-	-4.25%	43.34%	-67.53%	380.93%	-66.44%	-8.65%	-88.42%	1,697.4%	-53.54%	11.84%	-55.02%	384.93%	-53.38%	-18.7%	-36.05%	352.73%	-58.95%
Charge d'intérêts ¹	-265	-257	-254	-340	-376	-371	-486	-476	-468	-463	-468	-499	-532	-540	-548	-537	-519	-497	-486	-480	-474.5	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	571	-2,890	-2,659	-3,095	-2,809	-1,573	9	206	-1,191	-2,086	603	658	1,011	17	1,763	-690	32	-413	1,028	-256	360.8	128.5	1,393	522.8	649.8	-	-	-
Change	-	-	-7.99%	16.4%	-9.24%	-44%	-	2,188.89%	-	75.15%	-	9.12%	53.65%	-98.32%	10,270.59%	-	-	-	-	-	-	-64.38%	983.85%	-62.47%	24.29%	-100%	-	-
Net income ¹	414	-2,241	-2,067	-2,399	-2,178	-1,250	19	169	-931	-1,635	476	483	803	10	1,338	-545	19	-312	717	-149	281.5	17.88	955	274	170.1	15.46	1,065	280.7
Change	-	-	-7.76%	16.06%	-9.21%	-42.61%	-	789.47%	-	75.62%	-	1.47%	66.25%	-98.75%	13,280%	-	-	-	-	-	-	-93.65%	5,240.77%	-71.31%	-37.9%	-90.91%	6,792.2%	-73.66%
Announcement Date	1/23/20	4/30/20	7/23/20	10/22/20	1/28/21	4/22/21	7/22/21	10/21/21	1/20/22	4/21/22	7/21/22	10/20/22	1/26/23	4/27/23	7/20/23	10/19/23	1/25/24	4/25/24	7/25/24	10/24/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: American Airlines Group Inc.

balance-sheet-analysis-chart AMERICAN-AIRLINES-GROUP-I

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	27,910	32,506	25,629	26,698	25,324	28,889	27,546	25,712
Change	-	16.47%	-21.16%	4.17%	-5.15%	14.08%	-4.65%	-6.66%
Announcement Date	1/23/20	1/28/21	1/20/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: American Airlines Group Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	4,268	1,958	208	2,546	2,596	2,639	3,605	3,976
Change	-	-54.12%	-89.38%	1,124.04%	1.96%	1.66%	36.6%	10.3%
Free Cash Flow (FCF) ¹	-453	-8,501	496	-373	1,207	739	1,195	1,428
Change	-	1,776.6%	-105.83%	-175.2%	-423.59%	-38.77%	61.68%	19.5%
Announcement Date	1/23/20	1/28/21	1/20/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: American Airlines Group Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	15.33%	-46.18%	-6.93%	10.57%	13.86%	11.48%	11.59%	12.18%
EBIT Margin (%)	8.1%	-65.68%	-18.45%	3.69%	7.6%	5.22%	5.67%	6.12%
EBT Margin (%)	4.93%	-66.06%	-8.53%	0.38%	2.12%	1.37%	4.03%	4.38%
Net margin (%)	3.68%	-51.25%	-6.67%	0.26%	1.56%	0.98%	2.52%	2.95%
FCF margin (%)	-0.99%	-49.03%	1.66%	-0.76%	2.29%	1.38%	2.12%	2.41%
FCF / Net Income (%)	-26.87%	95.68%	-24.89%	-293.7%	146.84%	139.8%	84.2%	81.8%
Profitability
ROA	3.61%	-15.59%	-3.1%	0.5%	2.91%	1.34%	2.71%	2.86%
ROE	503.1%	-	-	-	-	20.1%	28.4%	173.5%
Financial Health
Leverage (Debt/EBITDA)	3.98x	-4.06x	-12.38x	5.16x	3.46x	4.69x	4.22x	3.56x
Debt / Free cash flow	-61.61x	-3.82x	51.67x	-71.58x	20.98x	39.09x	23.05x	18.01x
Capital Intensity
CAPEX / Current Assets (%)	9.33%	11.29%	0.7%	5.2%	4.92%	4.92%	6.41%	6.71%
CAPEX / EBITDA (%)	60.85%	-24.46%	-10.05%	49.18%	35.47%	42.81%	55.29%	55.1%
CAPEX / FCF (%)	-942.16%	-23.03%	41.94%	-682.57%	215.08%	357.1%	301.71%	278.48%
Items per share
Cash flow per share ¹	8.587	-13.52	1.093	3.317	5.284	5.47	6.139	6.891
Change	-	-257.47%	-108.08%	203.44%	59.31%	3.52%	12.24%	12.24%
Dividend per Share ¹	0.4	0.1	-	-	-	-	-	-
Change	-	-75%	-	-	-	-	-	-
Book Value Per Share ¹	-0.2661	-11.05	-11.33	-8.913	-7.951	-6.681	-4.767	-2.388
Change	-	4,052.35%	2.56%	-21.35%	-10.79%	-15.97%	-28.64%	-49.92%
EPS ¹	3.79	-18.36	-3.09	0.19	1.21	0.6982	1.928	2.453
Change	-	-584.43%	-83.17%	-106.15%	536.84%	-42.29%	176.11%	27.25%
Nbr of stocks (in thousands)	438,058	610,774	647,477	649,901	653,541	657,131	657,131	657,131
Announcement Date	1/23/20	1/28/21	1/20/22	1/26/23	1/25/24	-	-	-