PerpEquities

Equity · Industrials

American Airlines Group Inc. (AAL) perpetual futures

AAL perpetual futures on 5 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade AALUSDT.

American Airlines Group Inc. is a major network air carrier providing scheduled passenger and freight service, with hubs across the US and global partner gateways.

$13.19+1.2%NASDAQ closed
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venue perp mark · BingX (AAL-USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

5/5 live markets
Venues
5
Live markets
5/5
24h volume
$301.9KCoverage: 4/5 marketsExchange-reported volume: $2M
Open interest
$265.9K
Best liquidity
$654.1K
Bitget
Tightest spread
+0.8 bps
Bitget
Highest volume
$247.5K
Bybit
Settlement mix
USDT · 5/5
Perp/spot vol.
0.00x
Spot volume $976.4M
OI / float
0.00%
Float $8.6B
Spot performance
1D+1.23%
5D-1.80%
1M-18.09%
6M+17.44%
YTD-14.35%
1Y+1.39%

Venue matrix

5 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BingXTradeAAL-USDTTrading$13.23+5.5% APR
+0.00500% every 8h
+30.2 bps$2.7K$1.7M$1.3KUSDT-
BybitTradeAAL/USDTTrading$13.240.0% APR
0.000% every 8h
+22.7 bps$2.3K$247.5K$57KUSDT25x
HTXTradeAAL/USDTTrading$13.240.0% APR
0.000% every 8h
+652.7 bps$0$38.3K$4.9KUSDT-
BitgetTradeAAL/USDTTrading$13.190.0% APR
0.000% every 8h
+0.8 bps$654.1K$15.4K$158.6KUSDT20x
Gate.ioTradeAAL/USDTTrading$13.180.0% APR
0.000% every 8h
+135.0 bps$10.4K$745$44KUSDT20x

Tradability

Execution quality

Thin liquidity · 1 of 5 venues absorb $10k · Typical cost: +7.2 bps

Cheapest execution: Bitget · +7.2 bps

Too thin: BingX, Bybit

No fresh book data: Gate.io, HTX

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

AAL

Tightest spread

AAL

Highest volume

AAL

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 3h ago
Market cap
$8.7B
Updated 3h ago
Revenue
$58.3B
Trailing 12 months
Revenue growth
+16%
Next fiscal year
Profit margin
-0.6%
P/E
-26.8
Peer P/E -7.0
Free cash flow
$285M
Trailing 12 months
More metrics
Net income
-$326M
Trailing 12 months
P/S
0.1
Peer P/E
-7.0
Similar listed perps
Revenue estimate
$63.1B
Next fiscal year
Earnings
2026-10-22
Revenue est. $16.1B · Updated 3h ago
Dividend
$0.1
2020-02-04

Fundamental detail

Annual + quarterly
Latest revenue$54.6B
Net margin+0.2%
Free cash flow-$680M
Net debt$34.3B
2020$17.3B
2021$29.9B
2022$49B
2023$52.8B
2024$54.2B
2025$54.6B
PeriodRevenueGrowthNet incomeFCF
2020$17.3B-62%-$8.9B-$8.7B
2021$29.9B+72%-$2B$496M
2022$49B+64%$127M-$373M
2023$52.8B+8%$822M$1.2B
2024$54.2B+3%$846M$1.3B
2025$54.6B+1%$111M-$680M
PeriodGross marginOperating marginNet marginROEROA
2020-41.7%-60.1%-51.2%+129.4%-14.3%
2021+0.1%-3.5%-6.7%+27.2%-3.0%
2022+18.5%+3.3%+0.3%-2.2%+0.2%
2023+22.4%+5.7%+1.6%-15.8%+1.3%
2024+21.1%+4.8%+1.6%-21.3%+1.4%
2025+19.2%+2.7%+0.2%-3.0%+0.2%
PeriodCashDebtNet debtCurrent ratio
2020$245M$41B$40.8B0.67
2021$273M$46.2B$45.9B0.91
2022$440M$43.7B$43.2B0.71
2023$578M$40.7B$40.1B0.62
2024$804M$37.5B$36.7B0.54
2025$1.7B$36B$34.3B0.50
PeriodMarket capEnterprise valueP/SP/E
2020$7.6B$48.4B0.4-0.9
2021$11.6B$57.5B0.4-5.8
2022$8.3B$51.5B0.263.6
2023$9B$49.1B0.210.9
2024$11.5B$48.2B0.213.5
2025$10.1B$44.4B0.290.2
Q3 2024$13.6B
Q4 2024$13.7B
Q1 2025$12.6B
Q2 2025$14.4B
Q3 2025$13.7B
Q4 2025$14B
Q1 2026$13.9B
Q2 2026$16.7B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$13.6B+1%-$149M-$191M
Q4 2024$13.7B+5%$590M-$342M
Q1 2025$12.6B0%-$473M$1.6B
Q2 2025$14.4B0%$599M$464M
Q3 2025$13.7B0%-$114M-$872M
Q4 2025$14B+2%$99M-$1.9B
Q1 2026$13.9B+11%-$382M$3.4B
Q2 2026$16.7B+16%$71M-$351M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+20.4%+0.7%-1.1%+3.1%-0.2%
Q4 2024+23.3%+8.3%+4.3%-14.8%+1.0%
Q1 2025+15.0%-2.2%-3.8%+10.5%-0.8%
Q2 2025+23.7%+7.9%+4.2%-15.5%+0.9%
Q3 2025+17.3%+1.1%-0.8%+2.9%-0.2%
Q4 2025+20.0%+3.2%+0.7%-2.7%+0.2%
Q1 2026+26.0%-0.3%-2.7%+9.4%-0.6%
Q2 2026+20.7%+2.7%+0.4%-1.8%+0.1%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$834M$39.2B$38.3B0.57
Q4 2024$804M$37.5B$36.7B0.54
Q1 2025$835M$36.6B$35.8B0.52
Q2 2025$833M$37.2B$36.4B0.58
Q3 2025$835M$36.1B$35.2B0.54
Q4 2025$1.7B$36B$34.3B0.50
Q1 2026$903M$34.9B$34B0.49
Q2 2026$1B$35.7B$34.7B0.53
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$7.4B$45.7B0.5-12.2
Q4 2024$11.5B$48.2B0.84.8
Q1 2025$7B$42.7B0.6-3.7
Q2 2025$7.4B$43.8B0.53.1
Q3 2025$7.4B$42.7B0.5-16.5
Q4 2025$10.1B$44.4B0.725.6
Q1 2026$7.1B$41.1B0.5-4.6
Q2 2026$12B$46.7B0.741.1
Historical value series
Revenue
Q3 2023: $13.5BQ4 2023: $13.1BQ1 2024: $12.6BQ2 2024: $14.3BQ3 2024: $13.6BQ4 2024: $13.7BQ1 2025: $12.6BQ2 2025: $14.4BQ3 2025: $13.7BQ4 2025: $14BQ1 2026: $13.9BQ2 2026: $16.7BQ3 2023Q2 2026
Net income
Q3 2023: -$545MQ4 2023: $19MQ1 2024: -$312MQ2 2024: $717MQ3 2024: -$149MQ4 2024: $590MQ1 2025: -$473MQ2 2025: $599MQ3 2025: -$114MQ4 2025: $99MQ1 2026: -$382MQ2 2026: $71MQ3 2023Q2 2026
EBITDA
Q3 2023: $413MQ4 2023: $1.1BQ1 2024: $554MQ2 2024: $2BQ3 2024: $703MQ4 2024: $1.8BQ1 2025: $248MQ2 2025: $1.7BQ3 2025: $764MQ4 2025: $1.1BQ1 2026: $527MQ2 2026: $949MQ3 2023Q2 2026
Free cash flow
Q3 2023: -$451MQ4 2023: -$2.2BQ1 2024: $1.4BQ2 2024: $477MQ3 2024: -$191MQ4 2024: -$342MQ1 2025: $1.6BQ2 2025: $464MQ3 2025: -$872MQ4 2025: -$1.9BQ1 2026: $3.4BQ2 2026: -$351MQ3 2023Q2 2026
EPS
Q3 2023: -$0.83Q4 2023: $0.03Q1 2024: -$0.48Q2 2024: $1.01Q3 2024: -$0.23Q4 2024: $0.82Q1 2025: -$0.72Q2 2025: $0.91Q3 2025: -$0.17Q4 2025: $0.15Q1 2026: -$0.58Q2 2026: $0.11Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $577MQ3 2023 · Debt: $41.2BQ4 2023 · Cash: $578MQ4 2023 · Debt: $40.7BQ1 2024 · Cash: $604MQ1 2024 · Debt: $40.1BQ2 2024 · Cash: $605MQ2 2024 · Debt: $39.4BQ3 2024 · Cash: $834MQ3 2024 · Debt: $39.2BQ4 2024 · Cash: $804MQ4 2024 · Debt: $37.5BQ1 2025 · Cash: $835MQ1 2025 · Debt: $36.6BQ2 2025 · Cash: $833MQ2 2025 · Debt: $37.2BQ3 2025 · Cash: $835MQ3 2025 · Debt: $36.1BQ4 2025 · Cash: $1.7BQ4 2025 · Debt: $36BQ1 2026 · Cash: $903MQ1 2026 · Debt: $34.9BQ2 2026 · Cash: $1BQ2 2026 · Debt: $35.7BQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: +19.9%Q4 2023 · Gross margin: +20.1%Q1 2024 · Gross margin: +16.1%Q2 2024 · Gross margin: +24.3%Q3 2024 · Gross margin: +20.4%Q4 2024 · Gross margin: +23.3%Q1 2025 · Gross margin: +15.0%Q2 2025 · Gross margin: +23.7%Q3 2025 · Gross margin: +17.3%Q4 2025 · Gross margin: +20.0%Q1 2026 · Gross margin: +26.0%Q2 2026 · Gross margin: +20.7%Q3 2023 · Operating margin: -1.7%Q4 2023 · Operating margin: +5.0%Q1 2024 · Operating margin: +0.1%Q2 2024 · Operating margin: +9.7%Q3 2024 · Operating margin: +0.7%Q4 2024 · Operating margin: +8.3%Q1 2025 · Operating margin: -2.2%Q2 2025 · Operating margin: +7.9%Q3 2025 · Operating margin: +1.1%Q4 2025 · Operating margin: +3.2%Q1 2026 · Operating margin: -0.3%Q2 2026 · Operating margin: +2.7%Q3 2023 · Net margin: -4.0%Q4 2023 · Net margin: +0.1%Q1 2024 · Net margin: -2.5%Q2 2024 · Net margin: +5.0%Q3 2024 · Net margin: -1.1%Q4 2024 · Net margin: +4.3%Q1 2025 · Net margin: -3.8%Q2 2025 · Net margin: +4.2%Q3 2025 · Net margin: -0.8%Q4 2025 · Net margin: +0.7%Q1 2026 · Net margin: -2.7%Q2 2026 · Net margin: +0.4%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q2 2024: +2.0%Q3 2024: +1.2%Q4 2024: +4.6%Q1 2025: -0.2%Q2 2025: +0.4%Q3 2025: +0.3%Q4 2025: +2.5%Q1 2026: +10.8%Q2 2026: +16.3%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 654.1MQ4 2023: 657.1MQ1 2024: 655.8MQ2 2024: 720.3MQ3 2024: 657.4MQ4 2024: 721.3MQ1 2025: 658.9MQ2 2025: 660.4MQ3 2025: 660.4MQ4 2025: 661.9MQ1 2026: 661.2MQ2 2026: 662.6MQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: -3.9Q4 2023 · P/E: 114.5Q1 2024 · P/E: -8.0Q2 2024 · P/E: 2.5Q3 2024 · P/E: -12.2Q4 2024 · P/E: 4.8Q1 2025 · P/E: -3.7Q2 2025 · P/E: 3.1Q3 2025 · P/E: -16.5Q4 2025 · P/E: 25.6Q1 2026 · P/E: -4.6Q2 2026 · P/E: 41.1Q3 2023 · P/S: 0.6Q4 2023 · P/S: 0.7Q1 2024 · P/S: 0.8Q2 2024 · P/S: 0.5Q3 2024 · P/S: 0.5Q4 2024 · P/S: 0.8Q1 2025 · P/S: 0.6Q2 2025 · P/S: 0.5Q3 2025 · P/S: 0.5Q4 2025 · P/S: 0.7Q1 2026 · P/S: 0.5Q2 2026 · P/S: 0.7Q3 2023Q2 2026
P/EP/S
Revenue
2018: $44.5B2019: $45.8B2020: $17.3B2021: $29.9B2022: $49B2023: $52.8B2024: $54.2B2025: $54.6B20182025
Net income
2018: $1.4B2019: $1.7B2020: -$8.9B2021: -$2B2022: $127M2023: $822M2024: $846M2025: $111M20182025
EBITDA
2018: $5.1B2019: $5.7B2020: -$7.9B2021: $1.6B2022: $4.1B2023: $5.2B2024: $5B2025: $3.9B20182025
Free cash flow
2018: -$212M2019: -$453M2020: -$8.7B2021: $496M2022: -$373M2023: $1.2B2024: $1.3B2025: -$680M20182025
EPS
2018: $3.032019: $3.82020: -$18.42021: -$3.092022: $0.192023: $1.142024: $1.242025: $0.1720182025
Cash / Debt
2018 · Cash: $275M2018 · Debt: $34B2019 · Cash: $280M2019 · Debt: $33.4B2020 · Cash: $245M2020 · Debt: $41B2021 · Cash: $273M2021 · Debt: $46.2B2022 · Cash: $440M2022 · Debt: $43.7B2023 · Cash: $578M2023 · Debt: $40.7B2024 · Cash: $804M2024 · Debt: $37.5B2025 · Cash: $1.7B2025 · Debt: $36B20182025
CashDebt
Profitability
2018 · Gross margin: +22.6%2019 · Gross margin: +24.3%2020 · Gross margin: -41.7%2021 · Gross margin: +0.1%2022 · Gross margin: +18.5%2023 · Gross margin: +22.4%2024 · Gross margin: +21.1%2025 · Gross margin: +19.2%2018 · Operating margin: +6.0%2019 · Operating margin: +6.7%2020 · Operating margin: -60.1%2021 · Operating margin: -3.5%2022 · Operating margin: +3.3%2023 · Operating margin: +5.7%2024 · Operating margin: +4.8%2025 · Operating margin: +2.7%2018 · Net margin: +3.2%2019 · Net margin: +3.7%2020 · Net margin: -51.2%2021 · Net margin: -6.7%2022 · Net margin: +0.3%2023 · Net margin: +1.6%2024 · Net margin: +1.6%2025 · Net margin: +0.2%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: +2.8%2020: -62.1%2021: +72.4%2022: +63.9%2023: +7.8%2024: +2.7%2025: +0.8%20182025
Shares outstanding
2018: 465.7M2019: 444.3M2020: 483.9M2021: 644M2022: 655.1M2023: 719.7M2024: 721.3M2025: 661.9M20182025
Valuation
2018 · P/E: 10.62019 · P/E: 7.52020 · P/E: -0.92021 · P/E: -5.82022 · P/E: 63.62023 · P/E: 10.92024 · P/E: 13.52025 · P/E: 90.22018 · P/S: 0.32019 · P/S: 0.32020 · P/S: 0.42021 · P/S: 0.42022 · P/S: 0.22023 · P/S: 0.22024 · P/S: 0.22025 · P/S: 0.220182025
P/EP/S

Refreshed 3h ago

Next catalyst

Catalysts

Earnings
2026-10-22
Revenue est. $16.1B · Updated 3h ago
Dividend
$0.1
2020-02-04

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20260.02$63.1B+16%13
FY 20272.37$66.1B+21%14
FY 20283.25$69.1B+27%7
FY 20293.26$71.7B+31%2
FY 20303.20$77.5B+42%4
Q1 2028-0.01$16.1B+16%13

Company events

6
2026-10-22EarningsActual - / Estimate -0.32-
2026-07-23EarningsActual 0.15 / Estimate 0.03Beat
2026-04-23EarningsActual -0.4 / Estimate -0.46Beat
2026-01-27EarningsActual 0.16 / Estimate 0.38Miss
2025-10-23EarningsActual -0.17 / Estimate -0.28Beat
2025-07-24EarningsActual 0.95 / Estimate 0.78Beat

Peer comparison

Similar listed perps

FMP company data

Company intelligence

Updated: Sep 6, 2026, 02:19 AM UTC

Company profile

Sector
Industrials
Industry
Airlines, Airports & Air Services
Chief executive
Robert D. Isom Jr.
Employees
143,400
IPO date
Sep 27, 2005
Country
US
Exchange
NASDAQ Global Select
Website
Altman Z-scorei0.67
Piotroski scorei3/9
FMP ratingiC+
Owner earningsi$1.78B$2.68 per share
ESG risk ratingiB+Industry rank: 1 out of 34

Rating factors

Return on equityi
3
Return on assetsi
1
Debt to equityi
1
Price to earningsi
1
Price to booki
1
Market cap history
2026-06-052026-09-04Latest: $8.69BHigh: $12.00BLow: $8.58B
Largest fund holders
FundWeightShares held
VPMAX0.56%29.6M
IJH.AX0.25%23.2M
XAW.TO0.01%23.2M
NJH0.24%22.3M
VTI0.01%21M
VB0.13%15.2M
VHCAX0.82%15M
VBR0.21%9.7M
VPCCX0.85%8.5M
VXF0.12%7.6M
JETS9.97%5.8M
MDY0.25%4.8M

Frequently asked questions

Where can I trade AAL perpetual futures?

American Airlines Group Inc. (AAL) perpetual futures trade on 5 crypto venues, including BingX, Bybit, HTX. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade AAL around the clock?

Yes. Unlike the underlying stock, AAL perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on AAL perpetuals?

Right now the AAL perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to +5.5% across 5 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the AAL perp price compare to the American Airlines Group Inc. stock?

The venue-median AAL perp mark is $13.2 versus a reference stock price of $13.2, a basis of +0.3%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a AAL perpetual future?

A AAL perpetual is a derivative that tracks the price of American Airlines Group Inc. with no expiry date. It lets you take long or short exposure to American Airlines Group Inc. on crypto venues, around the clock.

What is AALUSDT perpetual?

AALUSDT is the symbol most crypto exchanges use for the American Airlines Group Inc. perpetual settled in USDT (Tether). It tracks the AAL share price through an index, trades 24/7 with leverage and never expires.

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