Latam Airlines (LTM) Operating Margin (2009 - 2026)
Latam Airlines (LTM) posted Operating Margin of 19.82% for Q1 2026, up 18.36% on a QoQ basis from 16.74% in Q4 2025, and up 301.0% year-over-year from 4.94% in Q1 2025.
Latam Airlines (LTM) Operating Margin (2009 - 2026) Analysis & Trends
Latam Airlines' Operating Margin history runs 18 years deep, the most recent figure standing at 19.82% for Q1 2026.
- Quarterly Operating Margin rose 301.0% year-over-year to 19.82% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 18.14% (down 650767.0% YoY) and the FY2025 annual result came in at 16.37%, up 436.0% from the prior year.
- Operating Margin was 19.82% for Q1 2026 at Latam Airlines, up from 16.74% in the prior quarter.
- Across five years, Operating Margin topped out at 13257.64% in Q3 2024 and bottomed at 16.51% in Q2 2022.
- A 5-year average of 787.86% and a median of 10.84% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin surged 1324690 bps — and 2025, when it tumbled 1323950 bps.
- Latam Airlines' Operating Margin stood at 8.01% in 2022, then surged by 35 bps to 10.84% in 2023, then rose by 26 bps to 13.65% in 2024, then grew by 23 bps to 16.74% in 2025, then climbed by 18 bps to 19.82% in 2026.
- Business Quant data shows LTM's Operating Margin at 19.82% in Q1 2026, 16.74% in Q4 2025, and 18.14% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Latam Airlines | 29,341.35 Bn | 29,338.67 Bn | 1.28 Mn | 19.82% |
| 2 | Ryanair Holdings | 183.33 Bn | 180.79 Bn | - | - |
| 3 | Delta Air Lines | 53.61 Bn | 48.95 Bn | 19.07 Bn | 9.43% |
| 4 | Southwest Airlines | 21.85 Bn | 18.53 Bn | 7.33 Bn | 3.38% |
| 5 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.69 Bn | 7.93 Bn | - | -11.53% |
| 6 | Copa Holdings | 5.59 Bn | 4.26 Bn | 713.71 Mn | 21.77% |
| 7 | Alaska Air | 5.12 Bn | 3.35 Bn | 3.20 Bn | -8.45% |
| 8 | Skywest | 3.85 Bn | 3.22 Bn | 1.01 Bn | 14.13% |
| 9 | Jetblue Airways | 1.85 Bn | 1.44 Bn | 1.87 Bn | -10.00% |
| 10 | Allegiant Travel | 1.72 Bn | 818.03 Mn | 651.87 Mn | 12.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 19.82% |
| Dec 31, 2025 | 16.74% |
| Sep 30, 2025 | 18.14% |
| Jun 30, 2025 | 13.31% |
| Mar 31, 2025 | 16.81% |
| Dec 31, 2024 | 13.65% |
| Sep 30, 2024 | 13,257.64% |
| Jun 30, 2024 | 8.73% |
| Mar 31, 2024 | 12.07% |
| Dec 31, 2023 | 10.84% |
| Sep 30, 2023 | 10.74% |
| Jun 30, 2023 | 0.00% |
| Mar 31, 2023 | 0.01% |
| Dec 31, 2022 | 8.01% |
| Sep 30, 2022 | 3.71% |
| Jun 30, 2022 | -16.51% |
| Mar 31, 2022 | 0.00% |
| Dec 31, 2021 | 8.51% |
| Sep 30, 2021 | -51.50% |
| Jun 30, 2021 | -121.09% |