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Deep Value: cash covers more than 100% of the stock price

This company holds roughly $8.6B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

American Airlines Group logo

American Airlines Group

A1G.DE
15
Airlines, Airports & Air Services · Industrials
Exchange
Frankfurt Stock Exchange
Winston Score
15
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

Winston Score History

The full picture

American Airlines Group is one of the largest airlines in the world. It flies passengers and cargo to hundreds of destinations across the United States and internationally, including routes to Europe, Latin America, Asia, and the Caribbean. The company also owns the AAdvantage loyalty program, one of the biggest frequent-flyer programs in the aviation industry.

American Airlines makes most of its money by selling plane tickets to both leisure and business travelers, with additional revenue from cargo shipping, baggage fees, and selling miles to credit card partners like Citi and Barclays. It operates primarily out of major hub airports including Dallas/Fort Worth, Miami, and Charlotte. The airline carries heavy debt from aircraft purchases and pandemic-era borrowing, which limits its financial flexibility. Its biggest challenge going forward is managing that debt load while keeping costs under control in an industry where fuel prices and economic downturns can quickly erase thin profit margins.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-87.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~6 years

€8.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

€8.6B cash & investments at current burn rate

Growth context

American Airlines Group is growing revenue at 16% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
17.9%
Thin — 17.9% gross margin
Profit after running costs
Operating Margin
2.7%
Thin — 2.7% operating margin
Return on the money invested
ROCE
1.8%
Weak — 1.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+7.5%
Steady sales growth (+7.5% YoY)
Profit growth
EPS YoY
-157.0%
Earnings shrinking (-157.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
0.5%
Thin free cash flow (0.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
0.64x
Dangerous — barely covers interest (0.6x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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