LATAM Airlines Group S.A. (LTM) Income Statement
LTM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLTM revenue and net income
Where LTM's revenue goes
2025Each bar shows an amount and its share of revenue. LTM kept 10.2% of revenue as net income.
LTM profit margins
LTM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.2% | +15.1% | +29.5% | +3.9% |
| Gross profit | +27.3% | +48.9% | +72.1% | +7.1% |
| Operating income | +51.6% | +24.5% | — | +17.9% |
| Net income | +49.4% | +2.9% | — | — |
| EPS (diluted) | −98.7% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LTM quarterly EPS vs estimates
LATAM Airlines beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 13, 2026 (estimate $1.07).
LTM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.27B | $12.83B | $11.64B | $9.36B | $4.88B | $3.92B | $10.07B | $9.90B | $9.61B | $8.99B |
| Cost of revenue | $10.10B | $9.57B | $8.82B | $8.10B | $4.96B | $3.65B | $7.95B | $7.77B | $7.44B | $6.97B |
| Gross profit | $4.16B | $3.27B | $2.82B | $1.26B | −$79.5M | $275.2M | $2.12B | $2.12B | $2.17B | $2.02B |
| Sales, general & admin | $1.45B | $1.43B | $1.27B | $576.4M | $731.3M | $793.8M | $1.32B | $721.3M | $938.9M | $873.0M |
| Total operating expenses | $1.82B | $1.73B | $1.75B | $47.5M | $3.35B | $4.81B | $1.37B | $1.18B | $1.47B | $1.53B |
| Operating income | $2.34B | $1.54B | $1.08B | $1.21B | −$3.43B | −$4.53B | $753.1M | $940.5M | $706.8M | $493.3M |
| Interest income | $615.3M | $505.5M | $597.0M | $49.8M | $0 | $50.4M | — | — | — | — |
| Interest expense | $720.3M | $820.9M | $682.9M | $911.8M | $805.5M | $587.0M | $589.9M | $539.1M | $393.0M | $416.0M |
| Income before taxes | $1.62B | $993.9M | $596.5M | $1.35B | −$4.08B | −$5.11B | $141.9M | $415.7M | $374.2M | $273.9M |
| Income taxes | $155.1M | $16.5M | $14.9M | $8.9M | $568.9M | −$550.2M | −$53.7M | $83.8M | $173.5M | $163.2M |
| Net income | $1.46B | $977.0M | $581.8M | $1.34B | −$4.65B | −$4.55B | $190.4M | $181.9M | $155.3M | $69.2M |
| EBITDA | $4.07B | $3.25B | $2.28B | $3.22B | −$2.35B | −$3.43B | $1.94B | $1.72B | $1.77B | $1.41B |
| EPS (diluted) | $5.52 | $430.86 | $823.02 | −$981.19 | −$6240.85 | −$13169.96 | $626.18 | $600.28 | $916.48 | $437.19 |
| Gross margin | 29.2% | 25.5% | 24.3% | 13.4% | −1.6% | 7.0% | 21.0% | 21.4% | 22.6% | 22.5% |
| Operating margin | 16.4% | 12.0% | 9.3% | 12.9% | −70.1% | −115.5% | 7.5% | 9.5% | 7.4% | 5.5% |
| Net margin | 10.2% | 7.6% | 5.0% | 14.3% | −95.2% | −115.9% | 1.9% | 1.8% | 1.6% | 0.8% |
| 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 | $4.12B | $4.08B | $3.87B | $3.80B | $3.25B | $3.35B | $3.34B | $3.25B | $3.03B | $3.27B | $3.21B | $3.02B |
| Cost of revenue | $3.45B | $2.80B | $2.72B | $2.62B | $2.40B | $2.40B | $2.42B | $2.41B | $2.44B | $2.39B | $2.43B | $2.20B |
| Gross profit | $670.9M | $1.28B | $1.16B | $1.18B | $854.4M | $948.6M | $919.6M | $837.3M | $593.2M | $873.3M | $781.7M | $825.1M |
| Sales, general & admin | $375.2M | $382.9M | $406.0M | $381.5M | $335.1M | $326.8M | $389.2M | $359.0M | $193.7M | $345.7M | $358.8M | $340.7M |
| Total operating expenses | $444.1M | $458.9M | $483.0M | $486.6M | $434.0M | $390.3M | $469.1M | $401.5M | $319.4M | $479.0M | $498.9M | $500.1M |
| Operating income | $226.8M | $818.3M | $674.3M | $691.2M | $420.4M | $558.3M | $450.5M | $435.8M | $273.8M | $394.3M | $282.8M | $324.9M |
| Interest income | $39.6M | $37.0M | $101.6M | $100.4M | $175.6M | $33.1M | $108.7M | $46.2M | $31.1M | $31.4M | $95.9M | $32.7M |
| Interest expense | $154.1M | $154.2M | $152.6M | $167.1M | $155.9M | $151.7M | $256.7M | $194.7M | $189.4M | $191.4M | $191.4M | $174.0M |
| Income before taxes | $61.1M | $630.5M | $550.1M | $451.0M | $254.2M | $364.2M | $288.1M | $274.6M | $115.4M | $275.1M | $106.1M | $229.4M |
| Income taxes | −$56.8M | $52.8M | $65.9M | $70.1M | $11.5M | $7.6M | $18.4M | −$27.9M | $10.9M | $15.1M | $22.4M | −$3.4M |
| Net income | $125.2M | $576.0M | $484.3M | $378.8M | $242.4M | $355.3M | $271.9M | $301.2M | $104.8M | $258.3M | $83.0M | $231.8M |
| EBITDA | $215.2M | $1.27B | $889.1M | $1.06B | $838.8M | $904.9M | $563.6M | $742.0M | $631.1M | $961.7M | $340.0M | $702.3M |
| EPS (diluted) | $0.58 | $2.24 | $1.69 | $1.41 | $0.95 | $1.47 | $1.26 | $1.12 | $0.48 | $428.00 | $168.00 | $478.87 |
| Gross margin | 16.3% | 31.3% | 29.9% | 31.0% | 26.3% | 28.3% | 27.6% | 25.8% | 19.6% | 26.7% | 24.3% | 27.3% |
| Operating margin | 5.5% | 20.1% | 17.4% | 18.2% | 12.9% | 16.7% | 13.5% | 13.4% | 9.0% | 12.1% | 8.8% | 10.7% |
| Net margin | 3.0% | 14.1% | 12.5% | 10.0% | 7.4% | 10.6% | 8.1% | 9.3% | 3.5% | 7.9% | 2.6% | 7.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LTM's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LTM financial results
In fiscal year 2025 (ended December 31, 2025), LATAM Airlines reported revenue of $14.3 billion, up 11.2% from the year before. It had net income of $1.5 billion (up 49.4%), a net profit margin of 10.2%. Diluted earnings per share came to $5.52. Over five years revenue grew at an average rate of 29.5% a year.
See the LTM stock overview for the latest quote and news, or the LTM chart for price history and technical indicators.
LTM income statement FAQ
What is LATAM Airlines's annual revenue?
LATAM Airlines reported total revenue of $14.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.2% from $12.8 billion the previous year.
Is LATAM Airlines profitable?
Yes. LATAM Airlines reported net income of $1.5 billion in fiscal 2025, a net profit margin of 10.2%; its operating margin was 16.4%.
What is LATAM Airlines's gross margin?
LATAM Airlines's gross margin was 29.2% in fiscal 2025: for every $100 of revenue, LATAM Airlines kept $29 after the direct cost of its products and services.
How fast is LATAM Airlines growing?
Revenue grew 29.5% a year on average over the last five fiscal years, from $3.9 billion to $14.3 billion.
What are LATAM Airlines's earnings per share?
LATAM Airlines earned $5.52 per diluted share in fiscal 2025, compared with $430.86 a year earlier.
When will LATAM Airlines report its next earnings?
LATAM Airlines is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does LATAM Airlines's fiscal year end?
LATAM Airlines's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.