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 Investments

Microsoft Excel

Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

American Airlines Group Inc., adjustment to net income (loss)

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) (as reported) 822 127 (1,993) (8,885) 1,686
Add: Investments 3 (3) 3
Net income (loss) (adjusted) 825 124 (1,993) (8,885) 1,689

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).


Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

American Airlines Group Inc., adjusted profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net Profit Margin
Reported net profit margin 1.56% 0.26% -6.67% -51.25% 3.68%
Adjusted net profit margin 1.56% 0.25% -6.67% -51.25% 3.69%
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA 1.30% 0.20% -3.00% -14.33% 2.81%
Adjusted ROA 1.31% 0.19% -3.00% -14.33% 2.82%

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).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. American Airlines Group Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. American Airlines Group Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

American Airlines Group Inc., Profitability Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) 822 127 (1,993) (8,885) 1,686
Operating revenues 52,788 48,971 29,882 17,337 45,768
Profitability Ratio
Net profit margin1 1.56% 0.26% -6.67% -51.25% 3.68%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) 825 124 (1,993) (8,885) 1,689
Operating revenues 52,788 48,971 29,882 17,337 45,768
Profitability Ratio
Adjusted net profit margin2 1.56% 0.25% -6.67% -51.25% 3.69%

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).

2023 Calculations

1 Net profit margin = 100 × Net income (loss) ÷ Operating revenues
= 100 × 822 ÷ 52,788 = 1.56%

2 Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Operating revenues
= 100 × 825 ÷ 52,788 = 1.56%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. American Airlines Group Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) 822 127 (1,993) (8,885) 1,686
Stockholders’ deficit (5,202) (5,799) (7,340) (6,867) (118)
Profitability Ratio
ROE1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) 825 124 (1,993) (8,885) 1,689
Stockholders’ deficit (5,202) (5,799) (7,340) (6,867) (118)
Profitability Ratio
Adjusted ROE2

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).

2023 Calculations

1 ROE = 100 × Net income (loss) ÷ Stockholders’ deficit
= 100 × 822 ÷ -5,202 =

2 Adjusted ROE = 100 × Adjusted net income (loss) ÷ Stockholders’ deficit
= 100 × 825 ÷ -5,202 =


Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) 822 127 (1,993) (8,885) 1,686
Total assets 63,058 64,716 66,467 62,008 59,995
Profitability Ratio
ROA1 1.30% 0.20% -3.00% -14.33% 2.81%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) 825 124 (1,993) (8,885) 1,689
Total assets 63,058 64,716 66,467 62,008 59,995
Profitability Ratio
Adjusted ROA2 1.31% 0.19% -3.00% -14.33% 2.82%

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).

2023 Calculations

1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 822 ÷ 63,058 = 1.30%

2 Adjusted ROA = 100 × Adjusted net income (loss) ÷ Total assets
= 100 × 825 ÷ 63,058 = 1.31%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. American Airlines Group Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.