American Airlines (AAL) Operating Margin (2009 - 2026)
American Airlines' Operating Margin came in at 2.67% for Q2 2026, down 5.22 percentage points from 7.89% a year earlier but up 2.96 percentage points from the prior quarter.
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Analysis
American Airlines (AAL) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, American Airlines reported Operating Margin of 1.73%, down 2.12 percentage points year-over-year; for FY2025, it was 2.69%, down 2.14 percentage points from FY2024.
- Operating Margin carries a five-year change of +62.79 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 4.82% in FY2024 (-0.93 pp), 5.75% in FY2023 (+2.47 pp), 3.28% in FY2022 (+6.83 pp) and -3.54% in FY2021 (+56.56 pp).
- The five-year range for quarterly Operating Margin is -19.36% (Q1 2022) to 15.39% (Q2 2023).
- Year-over-year, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.80 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q3 2021 (a gain of 97.12 percentage points), and the weakest in Q3 2023 (a drop of 8.56 percentage points).
- Business Quant data shows AAL's Operating Margin at -0.29% (Q1 2026), 3.23% (Q4 2025) and 1.10% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 177.91 Bn | 170.15 Bn | - | 40.89% |
| 2 | Csx | 96.18 Bn | 91.40 Bn | - | 39.08% |
| 3 | United Parcel Service | 88.83 Bn | 65.72 Bn | - | 4.07% |
| 4 | Canadian Pacific Kansas City | 80.42 Bn | 79.44 Bn | - | 35.35% |
| 5 | Norfolk Southern | 76.23 Bn | 70.69 Bn | - | 32.61% |
| 6 | Fedex | 70.91 Bn | 36.86 Bn | - | 6.20% |
| 7 | Delta Air Lines | 52.99 Bn | 35.17 Bn | - | 7.20% |
| 8 | Old Dominion Freight Line | 36.55 Bn | 35.81 Bn | - | 29.94% |
| 9 | United Airlines Holdings | 33.80 Bn | -23.90 Bn | - | 8.09% |
| 10 | American Airlines | 8.29 Bn | -15.75 Bn | - | 2.67% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.67% |
| Mar 31, 2026 | -0.29% |
| Dec 31, 2025 | 3.23% |
| Sep 30, 2025 | 1.10% |
| Jun 30, 2025 | 7.89% |
| Mar 31, 2025 | -2.15% |
| Dec 31, 2024 | 8.30% |
| Sep 30, 2024 | 0.65% |
| Jun 30, 2024 | 9.66% |
| Mar 31, 2024 | 0.06% |
| Dec 31, 2023 | 5.02% |
| Sep 30, 2023 | -1.65% |
| Jun 30, 2023 | 15.39% |
| Mar 31, 2023 | 3.59% |
| Dec 31, 2022 | 10.48% |
| Sep 30, 2022 | 6.91% |
| Jun 30, 2022 | 7.58% |
| Mar 31, 2022 | -19.36% |
| Dec 31, 2021 | -8.27% |
| Sep 30, 2021 | 6.63% |
API Access
American Airlines Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=AAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "AAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=AAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();