American Airlines Group Inc. (AAL)财务
NASDAQ · Industrials · Airlines, Airports & Air Services · 员工141,100人 · CEO Robert D. Isom Jr.
- 股价
- $12.60 -1.41%
- 市值
- $83.5亿
- 企业价值
- $435亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-01-26 EPS预期 -$0.73
营收(TTM)$610亿+12.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)1.6%-2.4 百分点 对比去年同期营业利润 $9.72亿
净利润(TTM)-$4.81亿-179.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$9100万-110.3% 对比去年同期资本支出 $43.6亿
稀释EPS(TTM)-$0.73-186.9% 对比去年同期最近4个季度之和
净现金-$280亿+4.2% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $83.5亿 EV $435亿
- 营收
- $610亿 过去12个月
- 营收增速
- +17% FY2026年一致预期
- 净利润率
- -0.8% 净利润 / 营收,TTM
- P/E
- -17.3× 预期 -10.2×(FY2026)
- P/S
- 0.1× 股价 / 营收,TTM
- EV / EBITDA
- 13.6× TTM
- 自由现金流
- -$9100万 过去12个月
- 净利润
- -$4.81亿 过去12个月
- 营收预期
- $638亿 FY2026年一致预期
- 盈利
- 2027-01-26 营收预期 $169亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-22):营收超预期0.5%,EPS 超预期22.4%营收$163亿,预期$162亿(+0.5%);EPS -$0.28,预期-$0.36(+22.4%)。
- 营收增长加速:同比19.3%Q3 '26营收$163亿,此前四个季度的平均值为7.5%。
- 营业利润率1.6%(TTM),较去年同期-2.4 百分点营收增长12.3%,营业利润增长-54.8%。
- 资本支出占营收的7.1%(去年为5.3%)最近4个季度投入$43.6亿(同比+50.8%)。自由现金流-$9100万。
- 稀释股数一年内增加0.4%Q3 '26稀释股数6.63亿,一年前为6.6亿。
- 净债务 $280亿现金 + 短期投资 $82.9亿,含租赁债务 $363亿;一年前净债务 $292亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $163亿 | $137亿 | +19.3% |
| 毛利率 | 19.2% | 17.3% | +1.9 百分点 |
| 营业利润 | $1.15亿 | $1.51亿 | -23.8% |
| 营业利润率 | 0.7% | 1.1% | -0.4 百分点 |
| 净利润 | -$2.69亿 | -$1.14亿 | -136.0% |
| 稀释EPS | -$0.41 | -$0.17 | -141.2% |
| 经营现金流 | -$1.53亿 | -$4600万 | -232.6% |
| 资本支出 | $11亿 | $8.26亿 | +32.6% |
| 自由现金流 | -$12.5亿 | -$8.72亿 | -43.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $163亿 | $162亿 | +0.5% |
| EPS(一致预期口径) | -$0.28 | -$0.36 | +22.4% |
来自2026-10-22发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Passenger Travel | $138亿 | +20.7% | 45.7% | $736亿 | – | |
| Passenger | $149亿 | +19.5% | 49.5% | $553亿 | +11.9% | |
| Product and Service, Other | $11.6亿 | +15.2% | 3.9% | $47.3亿 | +16.0% | |
| Cargo and Freight | $2.74亿 | +29.2% | 0.9% | $9.88亿 | +18.8% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Domestic Destination | $105亿 | +20.2% | 70.4% | $394亿 | +12.4% | |
| Atlantic Destination | $24.4亿 | +15.6% | 16.4% | $73.2亿 | +12.8% | |
| Latin America Destination | $16.2亿 | +20.7% | 10.9% | $69.6亿 | +7.7% | |
| Pacific Destination | $3.55亿 | +18.7% | 2.4% | $16亿 | +15.5% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $42.7亿
- 资本支出
- -$43.6亿
- 股票回购
- $0
- 股息
- $0
- 收购
- $0
- 债务净发行
- $4.13亿
- 股权激励费用
- $0
- 自由现金流
- -$9100万
- 股东回报 / FCF
- 0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -17.3× | 44.5× 5年中的4年 | 10.9× – 90.2× |
| EV / EBITDA | 13.6× | 15.3× | 8.9× – 36.2× |
| EV / 营收 | 0.7× | 1.1× | 0.8× – 1.9× |
| 股价 / FCF | -91.7× | 13.2× 5年中的3年 | 7.4× – 23.3× |
| 股价 / 净资产 | -2.0× | – | – |
| FCF收益率 | -1.1% | 3.6% | -6.7% – 13.4% |
| 投入资本回报率 | 2.0% | 2.4% | -1.6% – 4.8% |
| 净资产收益率 | 12.0% | -3.0% | -21.3% – 27.2% |
分析师
一致目标价 $17.58 (+39.5%)
区间 $11.00 – $25.00 · 评级 Buy
强烈买入0
买入18
持有17
卖出3
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $638亿 | +16.8% | -$1.23 | -826.3% | -10.2× | 13 |
| FY2027 | $681亿 | +6.8% | $0.97 | +178.7% | 13.0× | 13 |
| FY2028 | $708亿 | +4.0% | $3.19 | +227.9% | 4.0× | 7 |
| FY2029 | $749亿 | +5.7% | $3.82 | +19.8% | 3.3× | 2 |
| FY2030 | $804亿 | +7.5% | $4.45 | +16.6% | 2.8× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
American Airlines Group Inc.在近期10-Q / 10-K文件中标记的全部206项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $36.4亿 | $31.3亿 | +16.2% | $28.4亿 | $24.6亿 | +15.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $18.9亿 | $20.6亿 | -8.0% | $20.8亿 | $20.1亿 | +3.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$43.6亿 | -$45.3亿 | +3.8% | -$43.9亿 | -$45.7亿 | +3.9% |
| Additional Paid in Capital, Common Stock | $74.2亿 | $73.7亿 | +0.7% | $73.9亿 | $74.2亿 | -0.5% |
| Aircraft Maintenance, Materials, and Repairs | $10.3亿 | $9.27亿 | +10.8% | $38.4亿 | $37.9亿 | +1.3% |
| Aircraft Rental | $3.08亿 | $3.03亿 | +1.7% | $12.2亿 | $12.4亿 | -1.8% |
| Airline Related Inventory, Net | $31.1亿 | $27.8亿 | +11.9% | $27.9亿 | $26.4亿 | +5.8% |
| Airline, Capacity Purchase Arrangements | $14.4亿 | $13.3亿 | +7.8% | $54.5亿 | $50.4亿 | +8.1% |
| AOCI Tax, Attributable to Parent | $16.7亿 | $16.2亿 | +3.2% | $16.6亿 | $16.1亿 | +3.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2200万 | $2300万 | -4.3% | $6000万 | $9200万 | -34.8% |
| Assets | $642亿 | $637亿 | +0.9% | $618亿 | $618亿 | 0.0% |
| Assets, Current | $143亿 | $151亿 | -5.3% | $122亿 | $132亿 | -7.2% |
| Assets, Fair Value Disclosure | $75.7亿 | – | – | $58.3亿 | $70.7亿 | -17.6% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $7000万 | $1.52亿 | -53.9% |
| Cash | $10.3亿 | $8.33亿 | +23.4% | $9.54亿 | $8.04亿 | +18.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $11.5亿 | $9.31亿 | +23.1% | $10.6亿 | $9.02亿 | +17.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $1.44亿 | $0 | – | $1.54亿 | $2.21亿 | -30.3% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 17.5亿 | 17.5亿 | 0.0% | 17.5亿 | 17.5亿 | 0.0% |
| Common Stock, Shares, Issued | 6.62亿 | 6.6亿 | +0.3% | 6.6亿 | 6.58亿 | +0.4% |
| Common Stock, Shares, Outstanding | 6.62亿 | 6.6亿 | +0.3% | 6.6亿 | 6.58亿 | +0.4% |
| Common Stock, Value, Issued | $700万 | $700万 | 0.0% | $700万 | $700万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $8600万 | $6.16亿 | -86.0% | $2.87亿 | $11.8亿 | -75.6% |
| Contract with Customer, Liability | $211亿 | $187亿 | +12.9% | $177亿 | $168亿 | +5.4% |
| Contract with Customer, Liability, Noncurrent | $72.2亿 | $68.1亿 | +6.1% | $68.4亿 | $65亿 | +5.2% |
| Costs and Expenses | $163亿 | $133亿 | +22.9% | $532亿 | $516亿 | +3.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $3.32亿 | $3.32亿 | 0.0% | $3.14亿 | $3.05亿 | +3.0% |
| Debt Securities, Available-for-sale, Current | $67.4亿 | $77.4亿 | -12.9% | $48.8亿 | $61.8亿 | -21.0% |
| Debt, Long-term and Short-term, Combined Amount | $286亿 | – | – | $286亿 | $301亿 | -5.1% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $7200万 | $2.85亿 | -74.7% |
| Deferred Income Tax Assets, Net | $24.2亿 | $24.1亿 | +0.2% | $23.7亿 | $24.9亿 | -4.7% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $7900万 | $3.08亿 | -74.4% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $700万 | $2300万 | -69.6% |
| Deferred Tax Assets, Frequent Flier Liability | $19.5亿2025-12-31 | $18亿 | +8.3% | $19.5亿 | $18亿 | +8.3% |
| Deferred Tax Assets, Gross | $86.9亿2025-12-31 | $90.3亿 | -3.7% | $86.9亿 | $90.3亿 | -3.7% |
| Deferred Tax Assets, Net | $23.6亿2025-12-31 | $24.8亿 | -4.7% | $23.6亿 | $24.8亿 | -4.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $86.7亿2025-12-31 | $90亿 | -3.7% | $86.7亿 | $90亿 | -3.7% |
| Deferred Tax Assets, Other | $6.76亿2025-12-31 | $7.75亿 | -12.8% | $6.76亿 | $7.75亿 | -12.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | $1.09亿2025-12-31 | $2.34亿 | -53.4% | $1.09亿 | $2.34亿 | -53.4% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | $2.6亿2025-12-31 | $2.7亿 | -3.7% | $2.6亿 | $2.7亿 | -3.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | $3700万2025-12-31 | $6000万 | -38.3% | $3700万 | $6000万 | -38.3% |
| Deferred Tax Assets, Valuation Allowance | $2200万2025-12-31 | $2200万 | 0.0% | $2200万 | $2200万 | 0.0% |
| Deferred Tax Liabilities, Gross | $63.1亿2025-12-31 | $65.3亿 | -3.3% | $63.1亿 | $65.3亿 | -3.3% |
| Deferred Tax Liabilities, Leasing Arrangements | $15.9亿2025-12-31 | $16.6亿 | -3.7% | $15.9亿 | $16.6亿 | -3.7% |
| Deferred Tax Liabilities, Other | $1.74亿2025-12-31 | $2.52亿 | -31.0% | $1.74亿 | $2.52亿 | -31.0% |
| Defined Contribution Plan, Cost | – | – | – | $16亿 | $14亿 | +14.3% |
| Deposits on Flight Equipment | $5.71亿 | $9.76亿 | -41.5% | $6.56亿 | $10.1亿 | -35.2% |
| Depreciation, Depletion and Amortization | – | – | – | $22亿 | $22亿 | 0.0% |
| Depreciation, Depletion and Amortization, Nonproduction | $4.78亿 | $4.76亿 | +0.4% | $18.9亿 | $19.3亿 | -1.9% |
| Earnings Per Share, Basic | $0.11 | $0.91 | -87.9% | $0.17 | $1.29 | -86.8% |
| Earnings Per Share, Diluted | $0.11 | $0.91 | -87.9% | $0.17 | $1.24 | -86.3% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $4000万 | $2.42亿 | -83.5% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | – | – | – | $0 | $1100万 | -100.0% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | – | – | – | 0.0% | 0.9% | -100.0% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | -$600万 | $0 | – |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | -3.3% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | 41.2% | 26.7% | +54.3% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | – | – | – | $700万 | $2100万 | -66.7% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | – | – | – | 3.0% | 1.8% | +66.7% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02