Price to Book Value (P/BV)
since 2013
Calculation
American Airlines Group Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2024 | — | = | 14.79 | ÷ | -7.94 | -7.94 | = | -5,202 | ÷ | 654,756,816 | |
| Feb 22, 2023 | — | = | 15.56 | ÷ | -8.90 | -8.90 | = | -5,799 | ÷ | 651,430,518 | |
| Feb 22, 2022 | — | = | 17.43 | ÷ | -11.31 | -11.31 | = | -7,340 | ÷ | 649,160,117 | |
| Feb 17, 2021 | — | = | 17.99 | ÷ | -10.74 | -10.74 | = | -6,867 | ÷ | 639,675,800 | |
| Feb 19, 2020 | — | = | 28.33 | ÷ | -0.28 | -0.28 | = | -118 | ÷ | 426,058,744 | |
| Feb 25, 2019 | — | = | 35.90 | ÷ | -0.38 | -0.38 | = | -169 | ÷ | 449,055,548 | |
| Feb 21, 2018 | 6.36 | = | 52.78 | ÷ | 8.30 | 8.30 | = | 3,926 | ÷ | 473,138,683 | |
| Feb 22, 2017 | 6.17 | = | 46.32 | ÷ | 7.51 | 7.51 | = | 3,785 | ÷ | 504,154,397 | |
| Feb 24, 2016 | 4.35 | = | 40.66 | ÷ | 9.34 | 9.34 | = | 5,635 | ÷ | 603,018,015 | |
| Feb 25, 2015 | 17.14 | = | 49.73 | ÷ | 2.90 | 2.90 | = | 2,021 | ÷ | 696,649,850 | |
| Feb 28, 2014 | — | = | 36.93 | ÷ | -5.18 | -5.18 | = | -2,731 | ÷ | 526,805,522 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of American Airlines Group Inc. Annual Report.
- Share Price Trends
- The share price experienced significant fluctuations over the analyzed period. Initially, the price increased from $36.93 in 2014 to a peak of $52.78 in 2018. However, a notable decline followed, with the share price dropping sharply to $15.56 by February 2023 and further declining to $14.79 in 2024. This downward trend after 2018 indicates increasing market challenges or deteriorating investor confidence.
- Book Value per Share (BVPS) Trends
- The BVPS showed considerable volatility and a negative trend in later years. It started off negative at -$5.18 in 2014, then improved substantially to reach positive values peaking at $9.34 in 2016 and maintaining positive levels until 2018. After 2018, the BVPS again turned negative and worsened notably, hitting -$10.74 in 2021 and remaining deeply negative through to -$7.94 in 2024. This suggests erosion of shareholders' equity and potential financial distress in the recent years.
- Price-to-Book Value Ratio (P/BV) Analysis
- The P/BV ratio was only available from 2015 to 2018, showing substantial variation from 17.14 in 2015 down to around 4.35 in 2016, then increasing slightly to about 6.36 by 2018. These elevated values imply that the market price exceeded book value by a wide margin during that period, possibly reflecting optimistic investor expectations or intangible assets. The lack of P/BV data post-2018 likely correlates with negative BVPS figures, making the ratio less meaningful or calculable.
- Overall Financial Insights
- The overall data indicates a phase of recovery and optimism from 2014 to 2018, characterized by a rising share price and positive book value, after which a marked deterioration occurred. The significant decline in share price coupled with sustained negative BVPS from 2019 onward suggests challenges such as increased liabilities, reduced asset values, or operational losses. The absence of P/BV ratios in the latter years underscores the financial strain and diminished investor valuation metrics. The trends reflect a probable structural or market-driven impact affecting the company's financial health in recent years.
Comparison to Competitors
American Airlines Group Inc., P/BV, 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. | |
|---|---|---|---|---|---|---|
| Feb 21, 2024 | — | 2.45 | 15.02 | 10.29 | 1.60 | 7.32 |
| Feb 22, 2023 | — | 2.27 | 9.36 | 10.34 | 2.32 | 7.75 |
| Feb 22, 2022 | — | 3.26 | 4.71 | 10.90 | 3.06 | 12.76 |
| Feb 17, 2021 | — | 2.35 | 8.24 | 8.07 | 2.85 | 213.26 |
| Feb 19, 2020 | — | 2.49 | 3.99 | 7.00 | 1.52 | 27.98 |
| Feb 25, 2019 | — | 3.15 | — | 5.72 | 2.34 | 31.82 |
| Feb 21, 2018 | 6.36 | 3.60 | — | 3.99 | 2.16 | 90.21 |
| Feb 22, 2017 | 6.17 | 3.10 | — | 4.43 | 2.71 | 231.41 |
| Feb 24, 2016 | 4.35 | 3.23 | — | 3.07 | 2.08 | 34.99 |
| Feb 25, 2015 | 17.14 | 2.82 | — | 5.07 | 10.91 | 42.88 |
| Feb 28, 2014 | — | 1.89 | — | 3.79 | 5.69 | 13.65 |
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., P/BV, long-term trends, comparison to sector (transportation)
| American Airlines Group Inc. | Transportation | |
|---|---|---|
| Feb 21, 2024 | — | 6.69 |
| Feb 22, 2023 | — | 5.91 |
| Feb 22, 2022 | — | 6.92 |
| Feb 17, 2021 | — | 8.09 |
| Feb 19, 2020 | — | 5.19 |
| Feb 25, 2019 | — | 5.63 |
| Feb 21, 2018 | 6.36 | 5.25 |
| Feb 22, 2017 | 6.17 | 5.80 |
| Feb 24, 2016 | 4.35 | 4.60 |
| Feb 25, 2015 | 17.14 | 6.55 |
| Feb 28, 2014 | — | 4.55 |
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., P/BV, long-term trends, comparison to industry (industrials)
| American Airlines Group Inc. | Industrials | |
|---|---|---|
| Feb 21, 2024 | — | 6.85 |
| Feb 22, 2023 | — | 5.50 |
| Feb 22, 2022 | — | 5.44 |
| Feb 17, 2021 | — | 5.89 |
| Feb 19, 2020 | — | 6.28 |
| Feb 25, 2019 | — | 5.96 |
| Feb 21, 2018 | 6.36 | 5.37 |
| Feb 22, 2017 | 6.17 | 4.89 |
| Feb 24, 2016 | 4.35 | 3.68 |
| Feb 25, 2015 | 17.14 | 3.70 |
| Feb 28, 2014 | — | 3.14 |
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).