Current Ratio
since 2013
Calculation
American Airlines Group Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.62 | = | 13,572) | ÷ | 22,062) |
| Dec 31, 2022 | 0.71 | = | 15,269) | ÷ | 21,496) |
| Dec 31, 2021 | 0.91 | = | 17,336) | ÷ | 19,006) |
| Dec 31, 2020 | 0.67 | = | 11,095) | ÷ | 16,569) |
| Dec 31, 2019 | 0.45 | = | 8,206) | ÷ | 18,311) |
| Dec 31, 2018 | 0.48 | = | 8,637) | ÷ | 18,096) |
| Dec 31, 2017 | 0.61 | = | 9,146) | ÷ | 14,964) |
| Dec 31, 2016 | 0.74 | = | 10,324) | ÷ | 13,872) |
| Dec 31, 2015 | 0.73 | = | 9,985) | ÷ | 13,605) |
| Dec 31, 2014 | 0.90 | = | 12,112) | ÷ | 13,435) |
| Dec 31, 2013 | 1.04 | = | 14,323) | ÷ | 13,806) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
1 US$ in millions
The liquidity profile from 2013 to 2023 is characterized by a general contraction in the current ratio, interrupted by a temporary recovery period between 2020 and 2021. For the majority of the analyzed decade, the entity operated with a current ratio below 1.0, indicating that short-term obligations exceeded available liquid assets.
- Current Asset Trends
- Current assets experienced a consistent decline from 14,323 million US$ in 2013 to a low of 8,206 million US$ in 2019. A sharp increase occurred in 2021, peaking at 17,336 million US$, before retreating to 13,572 million US$ by the end of 2023.
- Current Liability Trends
- Current liabilities exhibited a general upward trajectory over the ten-year period. After remaining relatively stable between 2013 and 2017, liabilities increased substantially starting in 2018, rising from 18,096 million US$ to a period high of 22,062 million US$ by December 31, 2023.
- Current Ratio Volatility
- The current ratio began at 1.04 in 2013 but entered a sustained downward trend, reaching a minimum of 0.45 in 2019. A significant rebound was observed in 2021, where the ratio rose to 0.91. However, this recovery was not sustained, as the ratio declined to 0.62 by the end of 2023, reflecting a persistent imbalance between short-term assets and liabilities.
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Comparison to Competitors
American Airlines Group Inc., current ratio, long-term trends, comparison to competitors
| American Airlines Group Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.62 | 1.37 | 1.19 | 0.81 | 0.83 | 1.10 |
| Dec 31, 2022 | 0.71 | 1.43 | 1.04 | 0.72 | 1.00 | 1.22 |
| Dec 31, 2021 | 0.91 | 1.51 | 0.98 | 0.62 | 1.19 | 1.42 |
| Dec 31, 2020 | 0.67 | 1.58 | 1.44 | 1.01 | 1.16 | 1.19 |
| Dec 31, 2019 | 0.45 | 1.45 | 2.47 | 0.79 | 0.55 | 1.11 |
| Dec 31, 2018 | 0.48 | 1.39 | — | 0.90 | 0.54 | 1.15 |
| Dec 31, 2017 | 0.61 | 1.59 | — | 1.02 | 0.56 | 1.22 |
| Dec 31, 2016 | 0.74 | 1.50 | — | 0.99 | 0.59 | 1.18 |
| Dec 31, 2015 | 0.73 | 1.84 | — | 1.29 | 0.63 | 1.23 |
| Dec 31, 2014 | 0.90 | 1.82 | — | 1.24 | 0.65 | 1.37 |
| Dec 31, 2013 | 1.04 | 1.96 | — | 1.05 | 0.72 | 1.88 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Sector (Transportation)
American Airlines Group Inc., current ratio, long-term trends, comparison to sector (transportation)
| American Airlines Group Inc. | Transportation | |
|---|---|---|
| Dec 31, 2023 | 0.62 | 1.06 |
| Dec 31, 2022 | 0.71 | 1.14 |
| Dec 31, 2021 | 0.91 | 1.24 |
| Dec 31, 2020 | 0.67 | 1.28 |
| Dec 31, 2019 | 0.45 | 1.13 |
| Dec 31, 2018 | 0.48 | 0.98 |
| Dec 31, 2017 | 0.61 | 1.06 |
| Dec 31, 2016 | 0.74 | 1.03 |
| Dec 31, 2015 | 0.73 | 1.12 |
| Dec 31, 2014 | 0.90 | 1.14 |
| Dec 31, 2013 | 1.04 | 1.30 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Industry (Industrials)
American Airlines Group Inc., current ratio, long-term trends, comparison to industry (industrials)
| American Airlines Group Inc. | Industrials | |
|---|---|---|
| Dec 31, 2023 | 0.62 | 1.16 |
| Dec 31, 2022 | 0.71 | 1.20 |
| Dec 31, 2021 | 0.91 | 1.29 |
| Dec 31, 2020 | 0.67 | 1.41 |
| Dec 31, 2019 | 0.45 | 1.16 |
| Dec 31, 2018 | 0.48 | 1.13 |
| Dec 31, 2017 | 0.61 | 1.24 |
| Dec 31, 2016 | 0.74 | 1.22 |
| Dec 31, 2015 | 0.73 | 1.24 |
| Dec 31, 2014 | 0.90 | 1.26 |
| Dec 31, 2013 | 1.04 | 1.33 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).