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American Airlines vs Latam Airlines: revenue, profit, margins and growth compared

American Airlines brought in $54.6B of revenue in fiscal 2025, Latam Airlines $14.3B in fiscal 2025. Revenue changed by +0.8% at American Airlines and +11.2% at Latam Airlines on the year before, so Latam Airlines grew faster. American Airlines kept 0.2% of its revenue as net profit, Latam Airlines 10.2%. Free cash flow was -$680M at American Airlines and $2B at Latam Airlines.

Side by side, latest fiscal year

AALLTM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$54.6B$14.3B
Revenue growth+0.8%+11.2%
Net income$111M$1.5B
Net margin0.2%10.2%
Free cash flow-$680M$2B
Free cash flow margin-1.2%13.7%
Earnings per share (diluted)$0.17$0.00
Cash$1.1B$2.2B
Debt$24.6B$8.1B
Price to earnings81.6n/a
Market value$9.2B$15.1B
Dividend yieldn/an/a
Rank by revenue in sector#17 of 778 · Consumer discretionary#94 of 778 · Consumer discretionary

Over the years

Revenue
AAL FY2018: $44.5BAAL FY2019: $45.8BAAL FY2020: $17.3BAAL FY2021: $29.9BAAL FY2022: $49BAAL FY2023: $52.8BAAL FY2024: $54.2BAAL FY2025: $54.6BLTM FY2018: $9.9BLTM FY2019: $10.1BLTM FY2020: $3.9BLTM FY2021: $4.9BLTM FY2022: $9.4BLTM FY2023: $11.6BLTM FY2024: $12.8BLTM FY2025: $14.3BFY18FY19FY20FY21FY22FY23FY24FY25
AAL $54.6BLTM $14.3B
Net income
AAL FY2018: $1.4BAAL FY2019: $1.7BAAL FY2020: -$8.9BAAL FY2021: -$2BAAL FY2022: $127MAAL FY2023: $822MAAL FY2024: $846MAAL FY2025: $111MLTM FY2018: $309.8MLTM FY2019: $190.4MLTM FY2020: -$4.5BLTM FY2021: -$4.6BLTM FY2022: $1.3BLTM FY2023: $581.8MLTM FY2024: $977MLTM FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
AAL $111MLTM $1.5B
Net margin
AAL FY2018: 3.2%AAL FY2019: 3.7%AAL FY2020: -51.2%AAL FY2021: -6.7%AAL FY2022: 0.3%AAL FY2023: 1.6%AAL FY2024: 1.6%AAL FY2025: 0.2%LTM FY2018: 3.1%LTM FY2019: 1.9%LTM FY2020: -115.9%LTM FY2021: -95.2%LTM FY2022: 14.3%LTM FY2023: 5.0%LTM FY2024: 7.6%LTM FY2025: 10.2%FY18FY19FY20FY21FY22FY23FY24FY25
AAL 0.2%LTM 10.2%
Revenue growth
AAL FY2019: +2.8%AAL FY2020: -62.1%AAL FY2021: +72.4%AAL FY2022: +63.9%AAL FY2023: +7.8%AAL FY2024: +2.7%AAL FY2025: +0.8%LTM FY2019: +1.8%LTM FY2020: -61.0%LTM FY2021: +24.5%LTM FY2022: +91.7%LTM FY2023: +24.3%LTM FY2024: +10.2%LTM FY2025: +11.2%FY19FY20FY21FY22FY23FY24FY25
AAL +0.8%LTM +11.2%
Free cash flow
AAL FY2018: -$212MAAL FY2019: -$453MAAL FY2020: -$8.5BAAL FY2021: $496MAAL FY2022: -$373MAAL FY2023: $1.2BAAL FY2024: $1.3BAAL FY2025: -$680MLTM FY2018: $1.4BLTM FY2019: $1.6BLTM FY2020: -$819MLTM FY2021: -$771.3MLTM FY2022: -$683.7MLTM FY2023: $1.5BLTM FY2024: $1.8BLTM FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
AAL -$680MLTM $2B

Fiscal years as each company reports them; the two may end in different months.

Questions about American Airlines and Latam Airlines

Which is bigger by revenue, American Airlines or Latam Airlines?

American Airlines is bigger by revenue: $54.6B in fiscal 2025, against $14.3B for Latam Airlines in fiscal 2025.

Which keeps more of its revenue as profit, American Airlines or Latam Airlines?

American Airlines had a net margin of 0.2% in fiscal 2025; Latam Airlines had 10.2% in fiscal 2025.

Which grew revenue faster, American Airlines or Latam Airlines?

In their latest fiscal years revenue changed by +0.8% at American Airlines and +11.2% at Latam Airlines.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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