American Airlines Group (AAL) — Capital Reinvestment Ratio
American Airlines Group (AAL) has a Capital Reinvestment Ratio of 0.19x as of March 2026, meaning it reinvests 0% of its operating cash flow ($4.22 Billion) in capital expenditures ($811.00 Million). See American Airlines Group net asset quality index to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
American Airlines Group Capital Reinvestment Ratio (1989–2025)
This chart tracks American Airlines Group's Capital Reinvestment Ratio across 34 annual periods. Check AAL capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.
Annual Capital Reinvestment Ratio for American Airlines Group (1989–2025)
Year-by-year Capital Reinvestment Ratio for American Airlines Group from 1989 to 2025. For live market cap and broader valuation context, see how much is American Airlines Group worth.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.22x | $3.10 Billion | $3.78 Billion | ▲ +81.0% |
| 2024 | 0.67x | $3.98 Billion | $2.68 Billion | ▼ -1.3% |
| 2023 | 0.68x | $3.80 Billion | $2.60 Billion | ▼ -49.0% |
| 2022 | 1.34x | $2.17 Billion | $2.91 Billion | ▲ +352.6% |
| 2021 | 0.30x | $704.00 Million | $208.00 Million | ▼ -73.6% |
| 2019 | 1.12x | $3.81 Billion | $4.27 Billion | ▲ +5.5% |
| 2018 | 1.06x | $3.53 Billion | $3.75 Billion | ▼ -15.8% |
| 2017 | 1.26x | $4.74 Billion | $5.97 Billion | ▲ +43.3% |
| 2016 | 0.88x | $6.52 Billion | $5.73 Billion | ▼ -10.8% |
| 2015 | 0.98x | $6.25 Billion | $6.15 Billion | ▼ -42.9% |
| 2014 | 1.72x | $3.08 Billion | $5.31 Billion | ▼ -62.6% |
| 2013 | 4.61x | $675.00 Million | $3.11 Billion | ▲ +214.0% |
| 2012 | 1.47x | $1.28 Billion | $1.89 Billion | ▼ -38.1% |
| 2011 | 2.37x | $680.00 Million | $1.61 Billion | ▲ +50.1% |
| 2010 | 1.58x | $1.24 Billion | $1.96 Billion | ▼ -3.3% |
| 2009 | 1.64x | $930.00 Million | $1.52 Billion | ▲ +343.2% |
| 2007 | 0.37x | $1.94 Billion | $714.00 Million | ▲ +35.0% |
| 2006 | 0.27x | $1.94 Billion | $530.00 Million | ▼ -58.9% |
| 2005 | 0.67x | $1.02 Billion | $681.00 Million | ▼ -53.6% |
| 2004 | 1.43x | $717.00 Million | $1.03 Billion | ▲ +26.6% |
| 2003 | 1.13x | $601.00 Million | $680.00 Million | ▼ -84.1% |
| 2001 | 7.12x | $511.00 Million | $3.64 Billion | ▲ +508.5% |
| 2000 | 1.17x | $3.14 Billion | $3.68 Billion | ▼ -25.1% |
| 1999 | 1.56x | $2.26 Billion | $3.54 Billion | ▲ +87.7% |
| 1998 | 0.83x | $3.19 Billion | $2.66 Billion | ▲ +75.0% |
| 1997 | 0.48x | $2.92 Billion | $1.39 Billion | ▲ +136.4% |
| 1996 | 0.20x | $2.72 Billion | $547.00 Million | ▼ -52.6% |
| 1995 | 0.42x | $2.19 Billion | $928.00 Million | ▼ -38.7% |
| 1994 | 0.69x | $1.61 Billion | $1.11 Billion | ▼ -54.2% |
| 1993 | 1.51x | $1.38 Billion | $2.08 Billion | ▼ -61.4% |
| 1992 | 3.91x | $843.00 Million | $3.30 Billion | ▼ -17.7% |
| 1991 | 4.75x | $744.00 Million | $3.54 Billion | ▲ +12.3% |
| 1990 | 4.23x | $685.80 Million | $2.90 Billion | ▲ +134.2% |
| 1989 | 1.81x | $1.33 Billion | $2.39 Billion | — |