American Airlines Group Inc. (AAL) Income Statement
AAL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAAL revenue and net income
Where AAL's revenue goes
2025Each bar shows an amount and its share of revenue. AAL kept 0.2% of revenue as net income.
AAL profit margins
AAL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.8% | +3.7% | +25.8% | +2.9% |
| Gross profit | −8.7% | +5.0% | — | −2.2% |
| Operating income | −43.9% | −3.0% | — | −13.4% |
| Net income | −86.9% | −4.4% | — | −34.5% |
| EPS (diluted) | −81.7% | +5.3% | — | −27.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AAL quarterly EPS vs estimates
American Airlines beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 22, 2026 (estimate $-0.28).
AAL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54.63B | $54.21B | $52.79B | $48.97B | $29.88B | $17.34B | $45.77B | $44.54B | $42.62B | $40.14B |
| Cost of revenue | $44.16B | $42.75B | $40.98B | $39.93B | $29.86B | $24.56B | $34.64B | $34.49B | $31.29B | $28.42B |
| Gross profit | $10.47B | $11.46B | $11.81B | $9.04B | $27.0M | −$7.23B | $11.13B | $10.05B | $11.33B | $11.73B |
| Sales, general & admin | $3.99B | $3.62B | $3.60B | $3.63B | $1.10B | $1.18B | $3.61B | $3.04B | $1.48B | $1.32B |
| Total operating expenses | $9.00B | $8.85B | $8.78B | $7.43B | $1.09B | $3.19B | $8.07B | $7.39B | $7.10B | $6.67B |
| Operating income | $1.47B | $2.61B | $3.03B | $1.61B | −$1.06B | −$10.42B | $3.06B | $2.66B | $4.23B | $5.06B |
| Interest income | $357.0M | $468.0M | $591.0M | $216.0M | $18.0M | $41.0M | $127.0M | $118.0M | — | — |
| Interest expense | $1.72B | $1.93B | $2.15B | $1.96B | $1.80B | $1.23B | $1.09B | $1.06B | $1.05B | $991.0M |
| Income before taxes | $190.0M | $1.15B | $1.12B | $186.0M | −$2.55B | −$11.45B | $2.26B | $1.88B | $3.40B | $4.15B |
| Income taxes | $79.0M | $308.0M | $299.0M | $59.0M | −$555.0M | −$2.57B | $570.0M | $472.0M | $2.11B | $1.57B |
| Net income | $111.0M | $846.0M | $822.0M | $127.0M | −$1.99B | −$8.88B | $1.69B | $1.41B | $1.28B | $2.58B |
| EBITDA | $3.88B | $5.01B | $5.20B | $4.12B | $1.59B | −$7.86B | $5.67B | $5.10B | $6.46B | $6.97B |
| EPS (diluted) | $0.35 | $1.91 | $2.64 | $0.30 | −$8.38 | −$19.87 | $4.91 | $4.55 | $4.90 | $5.70 |
| Gross margin | 19.2% | 21.1% | 22.4% | 18.5% | 0.1% | −41.7% | 24.3% | 22.6% | 26.6% | 29.2% |
| Operating margin | 2.7% | 4.8% | 5.7% | 3.3% | −3.5% | −60.1% | 6.7% | 6.0% | 9.9% | 12.6% |
| Net margin | 0.2% | 1.6% | 1.6% | 0.3% | −6.7% | −51.2% | 3.7% | 3.2% | 3.0% | 6.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.73B | $13.91B | $14.00B | $13.69B | $14.39B | $12.55B | $13.66B | $13.65B | $14.33B | $12.57B | $13.06B | $13.48B |
| Cost of revenue | $13.27B | $10.30B | $11.20B | $11.32B | $10.98B | $10.67B | $10.47B | $10.87B | $10.85B | $10.55B | $10.44B | $10.79B |
| Gross profit | $3.47B | $3.62B | $2.80B | $2.38B | $3.42B | $1.88B | $3.19B | $2.78B | $3.48B | $2.02B | $2.63B | $2.69B |
| Sales, general & admin | $1.21B | $1.01B | $4.50B | $966.0M | $1.07B | $900.0M | $962.0M | $936.0M | $912.0M | $816.0M | $443.0M | $860.0M |
| Total operating expenses | $3.02B | $3.66B | $2.35B | $2.22B | $2.28B | $2.15B | $2.05B | $2.69B | $2.10B | $2.01B | $1.97B | $2.91B |
| Operating income | $446.0M | −$41.0M | $452.0M | $151.0M | $1.14B | −$270.0M | $1.13B | $89.0M | $1.38B | $7.0M | $656.0M | −$223.0M |
| Interest income | $74.0M | $55.0M | $72.0M | $90.0M | $100.0M | $94.0M | $105.0M | $117.0M | $128.0M | $118.0M | $135.0M | $168.0M |
| Interest expense | $409.0M | $397.0M | $422.0M | $432.0M | $433.0M | $428.0M | $470.0M | $480.0M | $486.0M | $497.0M | $519.0M | $537.0M |
| Income before taxes | $107.0M | −$476.0M | $142.0M | −$142.0M | $838.0M | −$648.0M | $795.0M | −$256.0M | $1.03B | −$413.0M | $32.0M | −$690.0M |
| Income taxes | $36.0M | −$94.0M | $43.0M | −$28.0M | $239.0M | −$175.0M | $205.0M | −$107.0M | $311.0M | −$101.0M | $13.0M | −$145.0M |
| Net income | $71.0M | −$382.0M | $99.0M | −$114.0M | $599.0M | −$473.0M | $590.0M | −$149.0M | $717.0M | −$312.0M | $19.0M | −$545.0M |
| EBITDA | $949.0M | $527.0M | $1.12B | $764.0M | $1.75B | $248.0M | $1.77B | $703.0M | $1.99B | $554.0M | $1.11B | $413.0M |
| EPS (diluted) | $0.15 | −$0.40 | $0.16 | −$0.17 | $0.95 | −$0.59 | $0.86 | $0.30 | $1.09 | −$0.34 | $0.29 | $0.38 |
| Gross margin | 20.7% | 26.0% | 20.0% | 17.3% | 23.7% | 15.0% | 23.3% | 20.4% | 24.3% | 16.1% | 20.1% | 19.9% |
| Operating margin | 2.7% | −0.3% | 3.2% | 1.1% | 7.9% | −2.2% | 8.3% | 0.7% | 9.7% | 0.1% | 5.0% | −1.7% |
| Net margin | 0.4% | −2.7% | 0.7% | −0.8% | 4.2% | −3.8% | 4.3% | −1.1% | 5.0% | −2.5% | 0.1% | −4.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AAL's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AAL financial results
In fiscal year 2025 (ended December 31, 2025), American Airlines reported revenue of $54.6 billion, up 0.8% from the year before. It had net income of $111.0 million (down 86.9%), a net profit margin of 0.2%. Diluted earnings per share came to $0.35. Over five years revenue grew at an average rate of 25.8% a year.
See the AAL stock overview for the latest quote and news, or the AAL chart for price history and technical indicators.
AAL income statement FAQ
What is American Airlines's annual revenue?
American Airlines reported total revenue of $54.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 0.8% from $54.2 billion the previous year.
Is American Airlines profitable?
Yes. American Airlines reported net income of $111.0 million in fiscal 2025, a net profit margin of 0.2%; its operating margin was 2.7%.
What is American Airlines's gross margin?
American Airlines's gross margin was 19.2% in fiscal 2025: for every $100 of revenue, American Airlines kept $19 after the direct cost of its products and services.
How fast is American Airlines growing?
Revenue grew 25.8% a year on average over the last five fiscal years, from $17.3 billion to $54.6 billion.
What are American Airlines's earnings per share?
American Airlines earned $0.35 per diluted share in fiscal 2025, compared with $1.91 a year earlier.
When will American Airlines report its next earnings?
American Airlines is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 before the market opens.
When does American Airlines's fiscal year end?
American Airlines's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.