American Airlines Group (AAL) — Working Capital to Net Assets Ratio
American Airlines Group (AAL) has a Working Capital to Net Assets ratio of 353.7% as of March 2026. Working capital of $-14.42 Billion (current assets of $13.98 Billion minus current liabilities of $28.41 Billion) is measured against net assets of $-4.08 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See American Airlines Group balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
American Airlines Group Working Capital to Net Assets (1985–2025)
This chart shows how American Airlines Group's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of March 2026, the ratio stands at 353.7%, reflecting working capital of $-14.42 Billion against net assets of $-4.08 Billion USD. Check American Airlines Group tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for American Airlines Group (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for American Airlines Group from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see AAL stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 329.7% | $-12.29 Billion | $-3.73 Billion | $12.21 Billion | $24.49 Billion | ▲ +49.5 pp |
| 2024 | 280.1% | $-11.14 Billion | $-3.98 Billion | $13.15 Billion | $24.30 Billion | ▲ +116.9 pp |
| 2023 | 163.2% | $-8.49 Billion | $-5.20 Billion | $13.57 Billion | $22.06 Billion | ▲ +55.8 pp |
| 2022 | 107.4% | $-6.23 Billion | $-5.80 Billion | $15.27 Billion | $21.50 Billion | ▲ +84.6 pp |
| 2021 | 22.8% | $-1.67 Billion | $-7.34 Billion | $17.34 Billion | $19.01 Billion | ▼ -57.0 pp |
| 2020 | 79.7% | $-5.47 Billion | $-6.87 Billion | $11.10 Billion | $16.57 Billion | ▼ -8483.8 pp |
| 2019 | 8563.6% | $-10.11 Billion | $-118.00 Million | $8.21 Billion | $18.31 Billion | ▲ +2966.5 pp |
| 2018 | 5597.0% | $-9.46 Billion | $-169.00 Million | $8.64 Billion | $18.10 Billion | ▲ +4800.6 pp |
| 2017 | 796.4% | $-6.21 Billion | $-780.00 Million | $9.15 Billion | $15.36 Billion | ▲ +890.1 pp |
| 2016 | -93.7% | $-3.55 Billion | $3.79 Billion | $10.32 Billion | $13.87 Billion | ▼ -29.5 pp |
| 2015 | -64.2% | $-3.62 Billion | $5.63 Billion | $9.98 Billion | $13.61 Billion | ▲ +17.6 pp |
| 2014 | -81.8% | $-1.65 Billion | $2.02 Billion | $11.75 Billion | $13.40 Billion | ▼ -62.9 pp |
| 2013 | -18.9% | $517.00 Million | $-2.73 Billion | $14.32 Billion | $13.81 Billion | ▼ -43.2 pp |
| 2012 | 24.3% | $-1.94 Billion | $-7.99 Billion | $7.07 Billion | $9.01 Billion | ▼ -2.1 pp |
| 2011 | 26.3% | $-1.87 Billion | $-7.11 Billion | $6.76 Billion | $8.63 Billion | ▼ -22.9 pp |
| 2010 | 49.2% | $-1.94 Billion | $-3.94 Billion | $6.84 Billion | $8.78 Billion | ▲ +18.1 pp |
| 2009 | 31.1% | $-1.09 Billion | $-3.49 Billion | $6.64 Billion | $7.73 Billion | ▼ -86.0 pp |
| 2008 | 117.2% | $-3.44 Billion | $-2.94 Billion | $5.93 Billion | $9.37 Billion | ▲ +164.4 pp |
| 2007 | -47.2% | $-1.25 Billion | $2.66 Billion | $7.23 Billion | $8.48 Billion | ▼ -311.7 pp |
| 2006 | 264.5% | $-1.60 Billion | $-606.00 Million | $6.90 Billion | $8.51 Billion | ▲ +118.6 pp |
| 2005 | 145.9% | $-2.16 Billion | $-1.48 Billion | $6.16 Billion | $8.32 Billion | ▼ -206.5 pp |
| 2004 | 352.3% | $-2.05 Billion | $-581.00 Million | $4.97 Billion | $7.02 Billion | ▲ +4432.8 pp |
| 2003 | -4080.4% | $-1.88 Billion | $46.00 Million | $4.68 Billion | $6.56 Billion | ▼ -3839.8 pp |
| 2002 | -240.6% | $-2.30 Billion | $957.00 Million | $4.94 Billion | $7.24 Billion | ▼ -222.6 pp |
| 2001 | -18.1% | $-972.00 Million | $5.37 Billion | $6.54 Billion | $7.51 Billion | ▲ +7.1 pp |
| 2000 | -25.2% | $-1.81 Billion | $7.18 Billion | $5.18 Billion | $6.99 Billion | ▼ -4.2 pp |
| 1999 | -21.0% | $-1.44 Billion | $6.86 Billion | $4.42 Billion | $5.86 Billion | ▼ -9.6 pp |
| 1998 | -11.4% | $-764.00 Million | $6.70 Billion | $4.88 Billion | $5.64 Billion | ▼ -2.6 pp |
| 1997 | -8.8% | $-546.00 Million | $6.22 Billion | $5.07 Billion | $5.62 Billion | ▲ +10.6 pp |
| 1996 | -19.3% | $-1.10 Billion | $5.67 Billion | $4.47 Billion | $5.57 Billion | ▲ +22.5 pp |
| 1995 | -41.8% | $-1.56 Billion | $3.72 Billion | $3.14 Billion | $4.69 Billion | ▲ +11.3 pp |
| 1994 | -53.1% | $-1.80 Billion | $3.38 Billion | $3.12 Billion | $4.91 Billion | ▼ -12.7 pp |
| 1993 | -40.4% | $-1.73 Billion | $4.28 Billion | $2.69 Billion | $4.42 Billion | ▲ +14.9 pp |
| 1992 | -55.3% | $-1.85 Billion | $3.35 Billion | $2.87 Billion | $4.72 Billion | ▼ -4.3 pp |
| 1991 | -51.0% | $-1.94 Billion | $3.79 Billion | $2.81 Billion | $4.74 Billion | ▲ +7.1 pp |
| 1990 | -58.1% | $-2.17 Billion | $3.73 Billion | $2.66 Billion | $4.82 Billion | ▼ -21.3 pp |
| 1989 | -36.9% | $-1.39 Billion | $3.77 Billion | $2.09 Billion | $3.48 Billion | ▼ -31.1 pp |
| 1988 | -5.7% | $-180.60 Million | $3.15 Billion | $2.62 Billion | $2.80 Billion | ▼ -8.5 pp |
| 1987 | 2.8% | $75.30 Million | $2.68 Billion | $2.15 Billion | $2.07 Billion | ▼ -2.2 pp |
| 1986 | 5.0% | $124.40 Million | $2.48 Billion | $2.11 Billion | $1.99 Billion | ▼ -16.4 pp |
| 1985 | 21.5% | $467.90 Million | $2.18 Billion | $2.27 Billion | $1.80 Billion | — |