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Forensic Analysis · Air Transportation · as of Nov 9, 2026

American Airlines Group Inc. (AAL)

A forensic read on American Airlines Group Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Clean
Earnings quality
1
Forensic signals
0.8%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

American Airlines Group Inc. earns a C (Mixed — selective) forensic quality grade. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

2.3%
FY2025
Return on invested capital. Return on invested capital is 2.3% in the latest fiscal year and slipping across FY2023–FY2025 from 5.1%. After-tax operating profit was $2.2B in FY2023 and $954M in FY2025, with operating income at 5.7% of revenue in FY2023, 4.8% in FY2024 and 2.7% in FY2025. The capital base behind it went from $43.9B in FY2023 to $40.9B in FY2025 (-7%), while the revenue it carried went from $52.8B to $54.6B. $5.5B of the $40.9B base at FY2025 is short-term investments (13.5%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns.

Key fundamentals

Latest Revenue$54.63B
Revenue Growth YoY+0.8%
Revenue CAGR (2yr)+1.7%
Net Margin0.2%
Free Cash Flow-$680.0M

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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