Grupo Aeroméxico, S.A.B. de C.V. (AERO) Balance Sheet
AERO balance sheet, 2025
December 31, 2025 · U.S. dollars$7.19B assets = $7.79B liabilities + −$592.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$592.0M).
Both columns are drawn to the same scale: what AERO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AERO financial health
Descriptive bands, not a rating. Fiscal 2025.
AERO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $79.61B2016 | $7.19B2025 | −23.4%/yr | |
| Total liabilities | $65.20B2016 | $7.79B2025 | −21.0%/yr | |
| Shareholders’ equity | $14.40B2016 | −$592.0M2025 | — | |
| Cash & short-term investments | $10.37B2016 | $1.02B2025 | −22.7%/yr | |
| Total debt | $30.87B2016 | $4.06B2025 | −20.2%/yr | |
| Net cash (debt) | −$20.50B2016 | −$3.03B2025 | +$17.5B | |
| Working capital | −$11.13B2016 | −$1.12B2025 | +$10.0B | |
| Current ratio | 0.622016 | 0.642025 | +0.02 | |
| Debt / equity | 2.142016 | 10.992019 | +8.84 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AERO assets
AERO liabilities and equity
AERO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AERO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.02B | $815.5M | $912.9M | $755.2M | $46.1M | $8.23B | $9.29B | $9.84B | $11.56B | $10.37B |
| Cash & equivalents | $1.02B | $815.5M | $912.9M | $755.2M | $46.1M | $8.19B | $9.29B | $9.14B | $10.33B | $9.40B |
| Short-term investments | — | — | — | $0 | $0 | $37.6M | — | $702.9M | $1.23B | $967.3M |
| Receivables | $703.0M | $594.6M | $619.4M | $391.8M | $6.2M | $3.76B | $6.21B | $6.85B | $6.15B | $5.45B |
| Inventory | $174.0M | $139.7M | $108.5M | $97.0M | $3.8M | $1.36B | $1.64B | $1.55B | $1.51B | $1.44B |
| Other current assets | $79.0M | $96.9M | $73.9M | $133.5M | $6.7M | $374.3M | $372.9M | $850.2M | $1.23B | $1.04B |
| Total current assets | $1.98B | $1.65B | $1.71B | $1.38B | $62.7M | $13.73B | $17.51B | $19.09B | $20.45B | $18.29B |
| Property, plant & equipment (net) | $3.67B | $3.21B | $2.79B | $2.64B | $117.5M | $55.19B | $68.83B | $43.61B | $43.86B | $35.53B |
| Goodwill & intangible assets | $1.10B | $1.08B | $1.07B | $1.06B | $3.6M | $1.53B | $2.07B | $2.12B | $2.29B | $1.22B |
| Long-term investments | $10.7M | $17.0M | $27.1M | $30.2M | $8.3M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $430.2M | $433.0M | $490.7M | $431.3M | $14.5M | $9.20B | $15.01B | $22.50B | $20.43B | $24.56B |
| Total assets | $7.19B | $6.38B | $6.09B | $5.55B | $206.6M | $79.65B | $103.41B | $87.33B | $87.04B | $79.61B |
| Liabilities | ||||||||||
| Accounts payable | $1.40B | $1.36B | $1.26B | $842.2M | $33.4M | $19.43B | $13.70B | $13.06B | $12.12B | $10.33B |
| Short-term debt | $451.0M | $448.3M | $523.2M | $514.0M | $1.91B | $63.19B | $16.00B | $8.63B | $7.48B | $6.98B |
| Deferred revenue | — | — | — | — | $18,595 | $8.51B | $6.05B | $6.10B | $6.31B | — |
| Total current liabilities | $3.10B | $3.19B | $3.27B | $2.60B | $236.7M | $96.66B | $42.68B | $32.88B | $31.41B | $29.43B |
| Long-term debt | $3.60B | $3.25B | $2.71B | $2.94B | $1.81B | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $2.96B | $359.3M | $2.37B | $2.32B | $525.8M | — | — | — | — | — |
| Other long-term liabilities | $1.09B | $837.7M | $844.1M | $737.1M | $0 | $15.90B | $54.82B | $42.77B | $40.95B | $35.77B |
| Total liabilities | $7.79B | $7.28B | $6.82B | $6.28B | $336.2M | $112.56B | $97.50B | $75.64B | $72.37B | $65.20B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | $3.53B | $4.33B | $4.60B | $8.4M | $3.54B | $3.62B | $3.54B | $3.58B | $3.50B |
| Retained earnings (deficit) | −$1.97B | −$2.31B | −$2.94B | −$3.21B | −$146.4M | −$42.82B | −$351.9M | $4.33B | $7.21B | $6.06B |
| Accumulated other comprehensive income | — | $65.0M | $61.0M | $64.2M | — | $5.27B | $1.53B | $2.75B | $2.83B | $4.04B |
| Minority interest | $2.0M | $2.0M | $2.0M | $2.0M | — | — | — | — | — | — |
| Total shareholders' equity | −$592.0M | −$902.0M | −$734.9M | −$732.8M | −$129.7M | −$32.92B | $5.91B | $11.68B | $14.67B | $14.40B |
| Key figures | ||||||||||
| Total debt | $4.06B | $3.70B | $3.23B | $5.44B | $87.9M | $74.34B | $64.94B | $36.73B | $34.85B | $30.87B |
| Net cash (debt) | −$3.03B | −$2.89B | −$2.32B | −$4.69B | −$41.8M | −$66.11B | −$55.65B | −$26.89B | −$23.29B | −$20.50B |
| Working capital | −$1.12B | −$1.55B | −$1.55B | −$1.23B | −$174.0M | −$82.94B | −$25.17B | −$13.78B | −$10.97B | −$11.13B |
| Tangible book value | −$1.69B | −$1.98B | −$1.81B | −$1.80B | −$133.3M | −$34.45B | $3.85B | $9.56B | $12.38B | $13.18B |
| Book value per share | −$4.06 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 145.9M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.64 | 0.52 | 0.52 | 0.53 | 0.26 | 0.14 | 0.41 | 0.58 | 0.65 | 0.62 |
| Quick ratio | 0.56 | 0.44 | 0.47 | 0.44 | 0.22 | 0.12 | 0.36 | 0.51 | 0.56 | 0.54 |
| Debt / equity | — | — | — | — | — | — | 10.99 | 3.14 | 2.38 | 2.14 |
| Equity / assets | −8.2% | −14.1% | −12.1% | −13.2% | −62.8% | −41.3% | 5.7% | 13.4% | 16.9% | 18.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.04B | $1.04B | $1.02B | $934.1M | $922.4M | $840.0M | $841.9M | $712.4M | $1.13B | $955.0M | $937.7M | $956.5M |
| Cash & equivalents | $1.04B | $1.02B | $1.02B | $934.1M | $922.4M | $840.0M | $841.9M | $712.4M | $1.13B | $954.9M | $937.7M | $944.3M |
| Short-term investments | — | $27.0M | — | — | — | — | — | — | — | $96,996 | — | $12.2M |
| Receivables | $773.0M | $771.0M | $703.0M | $712.5M | $675.8M | $590.0M | $594.5M | $638.6M | $631.4M | $695.1M | $619.3M | $585.0M |
| Inventory | $190.0M | $185.0M | $174.0M | $165.2M | $158.9M | $151.0M | $139.7M | $133.0M | $122.7M | $116.6M | $108.5M | $111.4M |
| Other current assets | $72.0M | $82.0M | $79.0M | $80.8M | $71.3M | $69.0M | $70.4M | $60.7M | $57.0M | $58.9M | $49.1M | $59.1M |
| Total current assets | $2.07B | $2.08B | $1.98B | $1.89B | $1.83B | $1.65B | $1.65B | $1.54B | $1.94B | $1.83B | $1.71B | $1.71B |
| Property, plant & equipment (net) | $3.73B | $3.61B | $3.67B | $3.51B | $3.48B | $3.44B | $3.21B | $3.23B | $3.01B | $2.85B | $2.79B | $2.80B |
| Goodwill & intangible assets | $1.10B | $0 | $1.10B | $1.08B | $1.08B | $1.08B | $1.08B | $1.07B | $1.07B | $1.07B | $1.07B | $1.06B |
| Long-term investments | $7.4M | $0 | $10.7M | $21.9M | $19.8M | $18.2M | $17.0M | $18.3M | $0 | $0 | $0 | $0 |
| Other non-current assets | $468.8M | $1.54B | $430.2M | $417.7M | $413.7M | $430.7M | $433.0M | $395.7M | $454.5M | $477.1M | $517.8M | $451.8M |
| Total assets | $7.38B | $7.24B | $7.19B | $6.93B | $6.82B | $6.62B | $6.38B | $6.26B | $6.47B | $6.22B | $6.09B | $6.02B |
| Liabilities | ||||||||||||
| Accounts payable | $1.46B | — | $1.40B | $1.31B | $1.28B | $1.25B | $1.36B | $1.28B | $1.24B | $1.22B | $1.26B | $1.01B |
| Short-term debt | $469.0M | $456.0M | $451.0M | $492.3M | $479.5M | $465.0M | $448.3M | $449.1M | $463.0M | $484.1M | $523.1M | $531.9M |
| Total current liabilities | $3.34B | $3.21B | $3.10B | $3.10B | $3.16B | $3.14B | $3.19B | $3.24B | $3.34B | $3.31B | $3.27B | $2.98B |
| Long-term debt | $3.60B | $3.53B | $3.60B | $3.50B | $1.10B | $3.48B | $3.25B | $672.3M | $0 | $0 | $0 | $0 |
| Lease obligations | $2.97B | — | $2.96B | $2.84B | $2.81B | $389.2M | $359.3M | $2.56B | — | — | — | — |
| Other long-term liabilities | $1.08B | $1.08B | $1.09B | $1.04B | $3.37B | $872.5M | $837.4M | $2.94B | $3.49B | $3.52B | $3.56B | $3.59B |
| Total liabilities | $8.02B | $7.82B | $7.79B | $7.64B | $7.63B | $7.49B | $7.28B | $6.84B | $6.84B | $6.83B | $6.82B | $6.57B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | $3.54B | $3.54B | $3.54B | $3.53B | $3.93B | $4.34B | $4.34B | $4.33B | $4.60B |
| Retained earnings (deficit) | −$2.02B | — | −$1.97B | −$2.13B | −$2.23B | −$2.30B | −$2.31B | −$2.40B | −$2.59B | −$2.84B | −$2.94B | −$3.03B |
| Accumulated other comprehensive income | — | — | — | $64.7M | $64.0M | $64.5M | $65.0M | $61.0M | $61.8M | $61.0M | $61.0M | $64.2M |
| Minority interest | $2.0M | — | $2.0M | $2.0M | $2.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$640.0M | −$583.0M | −$592.0M | −$708.5M | −$807.1M | −$874.0M | −$901.9M | −$585.9M | −$371.2M | −$614.3M | −$734.9M | −$552.4M |
| Key figures | ||||||||||||
| Total debt | $4.07B | $3.98B | $4.06B | $3.99B | $3.96B | $3.95B | $3.70B | $3.29B | $3.17B | $3.14B | $3.23B | $3.29B |
| Net cash (debt) | −$3.03B | −$2.94B | −$3.03B | −$3.06B | −$3.04B | −$3.11B | −$2.86B | −$2.57B | −$2.04B | −$2.19B | −$2.30B | −$2.34B |
| Working capital | −$1.27B | −$1.13B | −$1.12B | −$1.20B | −$1.33B | −$1.49B | −$1.55B | −$1.69B | −$1.41B | −$1.48B | −$1.55B | −$1.27B |
| Tangible book value | −$1.74B | −$583.0M | −$1.69B | −$1.79B | −$1.89B | −$1.95B | −$1.98B | −$1.66B | −$1.44B | −$1.69B | −$1.81B | −$1.61B |
| Book value per share | −$4.39 | −$4.00 | −$4.06 | −$4.86 | −$5.53 | −$5.99 | — | — | — | — | — | — |
| Shares outstanding | 145.9M | 145.9M | 145.9M | 145.9M | 145.9M | 145.9M | — | — | — | — | — | — |
| Current ratio | 0.62 | 0.65 | 0.64 | 0.61 | 0.58 | 0.53 | 0.52 | 0.48 | 0.58 | 0.55 | 0.52 | 0.57 |
| Quick ratio | 0.54 | 0.57 | 0.56 | 0.53 | 0.51 | 0.46 | 0.45 | 0.42 | 0.53 | 0.50 | 0.48 | 0.52 |
| Equity / assets | −8.7% | −8.1% | −8.2% | −10.2% | −11.8% | −13.2% | −14.1% | −9.4% | −5.7% | −9.9% | −12.1% | −9.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 30, 2026); data from EODHD.
AERO financial position
At the end of fiscal 2025 (December 31, 2025), Grupo Aeroméxico, S.A.B. de C.V. had total assets of $7.2 billion (up 12.7% from a year earlier), total liabilities of $7.8 billion and shareholders' equity of -$592.0 million. It held $1.0 billion in cash and short-term investments against $4.1 billion of debt, net debt of $3.0 billion. Its current ratio was 0.64. In the latest quarter (ended June 30, 2026) total assets were $7.4 billion and equity -$640.0 million.
Related: AERO income statement, AERO cash flow statement, AERO key metrics. See the AERO stock overview for the latest quote and news.
AERO balance sheet FAQ
What are Grupo Aeroméxico, S.A.B. de C.V.'s total assets?
Grupo Aeroméxico, S.A.B. de C.V. reported total assets of $7.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.4 billion a year earlier.
How much debt does Grupo Aeroméxico, S.A.B. de C.V. have?
Grupo Aeroméxico, S.A.B. de C.V. had $4.1 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Grupo Aeroméxico, S.A.B. de C.V. have?
Grupo Aeroméxico, S.A.B. de C.V. held $1.0 billion in cash and short-term investments at the end of fiscal 2025; with $4.1 billion of debt that is net debt of $3.0 billion.
What is Grupo Aeroméxico, S.A.B. de C.V.'s book value?
Grupo Aeroméxico, S.A.B. de C.V.'s shareholders' equity (book value) was -$592.0 million at the end of fiscal 2025, or −$4.06 per share.
What is Grupo Aeroméxico, S.A.B. de C.V.'s current ratio?
Grupo Aeroméxico, S.A.B. de C.V. had current assets of $2.0 billion and current liabilities of $3.1 billion, a current ratio of 0.64 (current liabilities exceed current assets).
How much goodwill does Grupo Aeroméxico, S.A.B. de C.V. have?
Grupo Aeroméxico, S.A.B. de C.V. carried $1.1 billion of goodwill and intangible assets, 15.3% of total assets, at the end of fiscal 2025.