Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
American Airlines Group Inc.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+16.3%Compound growth, FY2021 to FY2025
Gross profit
FY2025Latest annual filing, FY2025
Operating Income
FY2025Latest annual filing, FY2025
Net income
FY2025Latest annual filing, FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
American Airlines Group Inc. headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for American Airlines Group Inc., from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
American Airlines Group Inc. expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for American Airlines Group Inc..
Margins
How much of American Airlines Group Inc.'s revenue survives through gross profit, operating income, and net income.
Gross margin
N/AFY2025, versus FY2021
Operating Margin
+623 bpsFY2025, versus FY2021
Net income margin
+687 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
American Airlines Group Inc. margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of American Airlines Group Inc.'s statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
American Airlines Group Inc. year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the past five years, American Airlines Group has shown a recovery trajectory from the significant losses experienced in 2021. In 2021, the company recorded a revenue of approximately $29.9 billion and a negative operating income of -$1.06 billion, accompanied by a net loss of $1.993 billion. The recovery is evident in 2022 when revenues climbed to $48.97 billion, turning around the operating income to a positive $1.607 billion and generating a modest net income of $127 million. This turnaround in performance may reflect an easing of industry headwinds, improving capacity utilization, or cost management efforts as the company rebounded from pandemic-related disruptions. However, the following years present a mixed picture. Revenues have continued to rise steadily, reaching $54.63 billion in 2025, demonstrating the company’s ability to capture market share despite competitive pressures. Notably, in 2023, operating income peaked at $3.034 billion, reflecting a significant improvement (over 80% increase) compared to 2022. Yet, by 2025, operating income had fallen to $1.467 billion, and net income dropped to $111 million from $846 million in 2024, marking significant year-over-year declines (exceeding 20%) that may signal rising operational costs, margin compression, or shifts in revenue mix. Overall, while the recovery from the 2021 downturn supports a resilient financial profile, the recent declines in profitability metrics warrant closer monitoring to ensure sustainable performance amid an evolving airline industry landscape.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
