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 Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

American Airlines Group Inc., short-term (operating) activity ratios (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
Turnover Ratios
Inventory turnover 22.00 21.50 23.20 22.64 21.49 20.41 17.91 17.37 16.65 13.23 10.44 7.74 10.74 15.08 20.18 24.66 24.73
Receivables turnover 26.06 26.18 25.52 26.28 22.91 22.71 22.19 22.62 19.86 18.38 14.96 13.21 12.92 21.69 37.95 42.84 26.15
Payables turnover 22.43 24.92 21.98 21.29 22.79 21.36 14.90 13.66 16.86 13.34 8.60 7.90 14.50 22.86 28.39 26.52 22.20
Working capital turnover 95.26 16.60 16.97
Average No. Days
Average inventory processing period 17 17 16 16 17 18 20 21 22 28 35 47 34 24 18 15 15
Add: Average receivable collection period 14 14 14 14 16 16 16 16 18 20 24 28 28 17 10 9 14
Operating cycle 31 31 30 30 33 34 36 37 40 48 59 75 62 41 28 24 29
Less: Average payables payment period 16 15 17 17 16 17 24 27 22 27 42 46 25 16 13 14 16
Cash conversion cycle 15 16 13 13 17 17 12 10 18 21 17 29 37 25 15 10 13

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. American Airlines Group Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. American Airlines Group Inc. receivables turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. American Airlines Group Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. American Airlines Group Inc. cash conversion cycle deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.

Inventory Turnover

American Airlines Group Inc., inventory turnover 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
Selected Financial Data (US$ in millions)
Operating revenues 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
Aircraft fuel, spare parts and supplies, net 2,400 2,461 2,280 2,308 2,279 2,215 2,273 2,002 1,795 1,851 1,789 1,658 1,614 1,633 1,653 1,772 1,851 1,800 1,708 1,666
Short-term Activity Ratio
Inventory turnover1 22.00 21.50 23.20 22.64 21.49 20.41 17.91 17.37 16.65 13.23 10.44 7.74 10.74 15.08 20.18 24.66 24.73
Benchmarks
Inventory Turnover, Competitors2
FedEx Corp. 149.26 146.78 143.65 146.45 146.80 150.05 150.76 150.16 143.03 135.08 127.31 120.56 121.01 122.65 120.12 121.41 126.03 126.74 131.64 128.50
Union Pacific Corp. 32.46 31.35 33.38 34.44 33.57 30.77 29.66 31.22 35.11 31.95 29.89 29.29 30.62 30.21 30.24 31.15 28.91

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 Q4 2023 Calculation
Inventory turnover = (Operating revenuesQ4 2023 + Operating revenuesQ3 2023 + Operating revenuesQ2 2023 + Operating revenuesQ1 2023) ÷ Aircraft fuel, spare parts and supplies, net
= (13,062 + 13,482 + 14,055 + 12,189) ÷ 2,400 = 22.00

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. American Airlines Group Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.

Receivables Turnover

American Airlines Group Inc., receivables turnover 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
Selected Financial Data (US$ in millions)
Operating revenues 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
Accounts receivable, net 2,026 2,021 2,073 1,989 2,138 1,991 1,835 1,537 1,505 1,332 1,249 971 1,342 1,135 879 1,020 1,750 1,850 1,943 1,876
Short-term Activity Ratio
Receivables turnover1 26.06 26.18 25.52 26.28 22.91 22.71 22.19 22.62 19.86 18.38 14.96 13.21 12.92 21.69 37.95 42.84 26.15
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 8.85 8.64 8.08 8.57 7.88 7.86 7.34 7.79 6.96 6.86 6.55 6.80 6.85 7.47 7.13 7.48 7.65 7.66 7.18 7.71
Uber Technologies Inc. 10.95 11.98 13.59 13.16 11.47 11.77 10.39 8.65 7.16 11.13 10.67 10.04 10.38 15.58 21.59 20.93 11.65
Union Pacific Corp. 11.63 12.48 13.56 12.82 13.15 11.90 11.42 11.57 12.66 12.63 12.34 11.99 12.98 12.53 14.55 12.91 13.61
United Parcel Service Inc. 8.11 9.84 10.03 9.60 7.97 9.21 8.78 8.82 7.76 9.01 9.12 8.84 7.87 8.93 8.38 9.23 7.76

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 Q4 2023 Calculation
Receivables turnover = (Operating revenuesQ4 2023 + Operating revenuesQ3 2023 + Operating revenuesQ2 2023 + Operating revenuesQ1 2023) ÷ Accounts receivable, net
= (13,062 + 13,482 + 14,055 + 12,189) ÷ 2,026 = 26.06

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. American Airlines Group Inc. receivables turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.

Payables Turnover

American Airlines Group Inc., payables turnover 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
Selected Financial Data (US$ in millions)
Operating revenues 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
Accounts payable 2,353 2,123 2,406 2,455 2,149 2,117 2,733 2,546 1,772 1,835 2,172 1,624 1,196 1,077 1,175 1,648 2,062 1,932 2,118 2,139
Short-term Activity Ratio
Payables turnover1 22.43 24.92 21.98 21.29 22.79 21.36 14.90 13.66 16.86 13.34 8.60 7.90 14.50 22.86 28.39 26.52 22.20
Benchmarks
Payables Turnover, Competitors2
FedEx Corp. 23.43 23.23 23.59 22.74 23.20 21.90 21.37 22.67 21.86 19.74 20.02 21.41 21.17 21.82 21.07 21.92 23.00 21.93 20.21 21.92
Uber Technologies Inc. 28.43 27.17 30.63 29.34 27.00 22.55 18.17 13.53 10.87 24.80 15.26 23.16 21.93 23.50 24.51 32.64 26.50
United Parcel Service Inc. 14.35 15.59 15.81 15.69 13.36 15.02 13.96 14.04 12.93 14.65 14.09 14.20 13.11 14.32 14.68 15.69 13.34

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 Q4 2023 Calculation
Payables turnover = (Operating revenuesQ4 2023 + Operating revenuesQ3 2023 + Operating revenuesQ2 2023 + Operating revenuesQ1 2023) ÷ Accounts payable
= (13,062 + 13,482 + 14,055 + 12,189) ÷ 2,353 = 22.43

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. American Airlines Group Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Working Capital Turnover

American Airlines Group Inc., working capital turnover 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
Selected Financial Data (US$ in millions)
Current assets 13,572 16,708 18,220 17,652 15,269 17,377 18,525 17,762 17,336 19,195 22,647 18,089 11,095 12,340 13,789 7,175 8,206 9,572 9,850 8,654
Less: Current liabilities 22,062 24,380 24,316 24,590 21,496 21,970 22,770 21,866 19,006 18,938 21,521 17,333 16,569 16,584 18,000 19,213 18,311 19,560 20,123 19,849
Working capital (8,490) (7,672) (6,096) (6,938) (6,227) (4,593) (4,245) (4,104) (1,670) 257 1,126 756 (5,474) (4,244) (4,211) (12,038) (10,105) (9,988) (10,273) (11,195)
 
Operating revenues 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
Short-term Activity Ratio
Working capital turnover1 95.26 16.60 16.97
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 17.94 21.22 22.52 16.22 15.35 16.74 13.05 13.06 12.13 9.67 8.17 9.27 11.46 31.44 26.10 22.61 17.11 16.31 17.43 22.14
Uber Technologies Inc. 20.23 28.22 17.25 65.98 80.50 83.47 1,646.62 9.53 129.39 10.72 3.69 4.83 3.46 3.19 1.71
Union Pacific Corp. 476.41 67.83
United Parcel Service Inc. 52.36 27.10 20.23 18.10 24.61 14.61 12.16 11.27 13.21 12.81 14.87 19.13 26.45 17.95 19.57 21.16 43.84

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 Q4 2023 Calculation
Working capital turnover = (Operating revenuesQ4 2023 + Operating revenuesQ3 2023 + Operating revenuesQ2 2023 + Operating revenuesQ1 2023) ÷ Working capital
= (13,062 + 13,482 + 14,055 + 12,189) ÷ -8,490 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

American Airlines Group Inc., average inventory processing period 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
Selected Financial Data
Inventory turnover 22.00 21.50 23.20 22.64 21.49 20.41 17.91 17.37 16.65 13.23 10.44 7.74 10.74 15.08 20.18 24.66 24.73
Short-term Activity Ratio (no. days)
Average inventory processing period1 17 17 16 16 17 18 20 21 22 28 35 47 34 24 18 15 15
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
FedEx Corp. 2 2 3 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 3 3
Union Pacific Corp. 11 12 11 11 11 12 12 12 10 11 12 12 12 12 12 12 13

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 Q4 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 22.00 = 17

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

American Airlines Group Inc., average receivable collection period 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
Selected Financial Data
Receivables turnover 26.06 26.18 25.52 26.28 22.91 22.71 22.19 22.62 19.86 18.38 14.96 13.21 12.92 21.69 37.95 42.84 26.15
Short-term Activity Ratio (no. days)
Average receivable collection period1 14 14 14 14 16 16 16 16 18 20 24 28 28 17 10 9 14
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 41 42 45 43 46 46 50 47 52 53 56 54 53 49 51 49 48 48 51 47
Uber Technologies Inc. 33 30 27 28 32 31 35 42 51 33 34 36 35 23 17 17 31
Union Pacific Corp. 31 29 27 28 28 31 32 32 29 29 30 30 28 29 25 28 27
United Parcel Service Inc. 45 37 36 38 46 40 42 41 47 40 40 41 46 41 44 40 47

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 Q4 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 26.06 = 14

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

American Airlines Group Inc., operating cycle calculation (quarterly data)

No. days

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
Selected Financial Data
Average inventory processing period 17 17 16 16 17 18 20 21 22 28 35 47 34 24 18 15 15
Average receivable collection period 14 14 14 14 16 16 16 16 18 20 24 28 28 17 10 9 14
Short-term Activity Ratio
Operating cycle1 31 31 30 30 33 34 36 37 40 48 59 75 62 41 28 24 29
Benchmarks
Operating Cycle, Competitors2
FedEx Corp. 43 44 48 45 48 48 52 49 55 56 59 57 56 52 54 52 51 51 54 50
Union Pacific Corp. 42 41 38 39 39 43 44 44 39 40 42 42 40 41 37 40 40

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 Q4 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 17 + 14 = 31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

American Airlines Group Inc., average payables payment period 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
Selected Financial Data
Payables turnover 22.43 24.92 21.98 21.29 22.79 21.36 14.90 13.66 16.86 13.34 8.60 7.90 14.50 22.86 28.39 26.52 22.20
Short-term Activity Ratio (no. days)
Average payables payment period1 16 15 17 17 16 17 24 27 22 27 42 46 25 16 13 14 16
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
FedEx Corp. 16 16 15 16 16 17 17 16 17 18 18 17 17 17 17 17 16 17 18 17
Uber Technologies Inc. 13 13 12 12 14 16 20 27 34 15 24 16 17 16 15 11 14
United Parcel Service Inc. 25 23 23 23 27 24 26 26 28 25 26 26 28 25 25 23 27

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 Q4 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 22.43 = 16

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

American Airlines Group Inc., cash conversion cycle calculation (quarterly data)

No. days

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
Selected Financial Data
Average inventory processing period 17 17 16 16 17 18 20 21 22 28 35 47 34 24 18 15 15
Average receivable collection period 14 14 14 14 16 16 16 16 18 20 24 28 28 17 10 9 14
Average payables payment period 16 15 17 17 16 17 24 27 22 27 42 46 25 16 13 14 16
Short-term Activity Ratio
Cash conversion cycle1 15 16 13 13 17 17 12 10 18 21 17 29 37 25 15 10 13
Benchmarks
Cash Conversion Cycle, Competitors2
FedEx Corp. 27 28 33 29 32 31 35 33 38 38 41 40 39 35 37 35 35 34 36 33

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 Q4 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 17 + 1416 = 15

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. American Airlines Group Inc. cash conversion cycle deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.