American Airlines Group Inc. (AAL) intrinsic value & 10-year financials
American Airlines Group Inc. (AAL) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 3.5% a year to $54.6B, with an average return on invested capital of -203.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $11.88
- Market cap
- $7.9B
- Revenue (FY2025)
- $54.6B
- Revenue growth (10-yr CAGR)
- 3.5%
- ROIC (10-yr avg)
- -203.0%
- Free cash flow (FY2025)
- -$680.0M
AAL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $54.6B | $111.0M | $0.17 | -$680.0M | 2.7% | — |
| FY2024 | $54.2B | $846.0M | $1.24 | $1.3B | 4.8% | — |
| FY2023 | $52.8B | $822.0M | $1.21 | $1.2B | 5.7% | — |
| FY2022 | $49.0B | $127.0M | $0.19 | -$373.0M | 3.3% | — |
| FY2021 | $29.9B | -$2.0B | -$3.09 | $496.0M | -3.5% | — |
| FY2020 | $17.3B | -$8.9B | -$18.36 | -$8.5B | -60.1% | — |
| FY2019 | $45.8B | $1.7B | $3.79 | -$453.0M | 6.7% | — |
| FY2018 | $44.5B | $1.4B | $3.03 | -$212.0M | 6.0% | — |
| FY2017 | $42.6B | $1.9B | $3.90 | -$1.2B | 9.5% | — |
| FY2016 | $40.1B | $2.7B | $4.81 | $793.0M | 13.2% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ANGLO AMERICAN PLC has demonstrated mature, steady growth, with revenue compounding at 3.5% annually over the past decade.
ANGLO AMERICAN PLC is a financial franchise; ROE cannot be assessed from the available history, and industrial ROIC is not used as a moat proxy.
ANGLO AMERICAN PLC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ANGLO AMERICAN PLC is modeled at -31.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-7.85 per share.