AAL American Airlines Group, Inc. - Common Stock
$13.99
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$10–$19
45% of range
Analyst Rating
HOLD
30 analysts
Price Target
$19
+36% upside
P/E (TTM)
82.3
ROE
-2.9%
Net Profit Margin
0.20%
About American Airlines Group, Inc. - Common Stock Company overview from Wikipedia
American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas. It was formed on December 9, 2013, by the merger of AMR Corporation, the parent company of American Airlines, and US Airways Group, the parent company of US Airways. Integration was completed when the Federal Aviation Administration granted a single operating certificate for both carriers on April 8, 2015, and all flights now operate under the American Airlines brand.
Read more
American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas. It was formed on December 9, 2013, by the merger of AMR Corporation, the parent company of American Airlines, and US Airways Group, the parent company of US Airways. Integration was completed when the Federal Aviation Administration granted a single operating certificate for both carriers on April 8, 2015, and all flights now operate under the American Airlines brand.
The group operates the largest airline in the world, as measured by number of passengers carried and by scheduled passenger-kilometers flown. The company ranked No. 70 in the Fortune 500 list of the largest United States corporations based on its 2019 revenue.
History
Merger proposals and plans
In January 2012, US Airways Group, the parent company of US Airways, expressed interest in taking over AMR Corporation, the parent company of American Airlines. In March, AMR's CEO Thomas W. Horton said that the company was open to a merger. US Airways told some American Airlines creditors that merging the two carriers could yield more than $1.5 billion a year in added revenue and cost savings. On April 20, American Airlines' three unions said they supported a proposed merger between the two airlines. With AMR under Chapter 11 bankruptcy protection, American Airlines had been looking to merge with another airline. Earlier in July, a bankruptcy court filing stated that US Airways was an American Airlines creditor and "prospective merger partner"; on August 31, US Airways CEO Doug Parker announced that American Airlines and US Airways had signed a nondisclosure agreement, in which they would discuss the possibility of a merger.
In February 2013, American Airlines and US Airways announced plans to merge, creating the largest airline in the world by some measurements. In the deal, which was expected to close in the third quarter of 2013, stakeholders of AMR would own 72% of the company and US Airways shareholders would own the remaining 28%. Rothschild & Co served as the investment bank for the transaction. The combination was considered a "merger of equals" between the two airlines, but retaining the more well-established "American" name going forward, and accordingly the holding company was renamed American Airlines Group Inc. The headquarters for the new group was also consolidated at American's headquarters in Fort Worth, Texas, but the US Airways' management team, including CEO Doug Parker, retained most operational management positions.
A judge approved the merger on March 27, 2013, but denied a proposed $20 million severance package to AMR chief Thomas W. Horton. On July 12, US Airways shareholders approved the proposed merger. Horton later received a smaller 17 million dollar severance.
Attempts to block the merger
On August 13, 2013, the United States Department of Justice, along with attorneys general from the District of Columbia, Arizona (headquarters of US Airways), Florida, Pennsylvania, Tennessee, Texas (headquarters of American Airlines), and Virginia filed a lawsuit seeking to block the merger, arguing that it would mean less competition and higher prices. American Airlines and US Airways both said that they would oppose the lawsuit and defend their merger. In early October 2013, the Attorney General of Texas rescinded the anti-trust lawsuit.
The Department of Justice reached a settlement on November 12, 2013, requiring the merged airline to relinquish landing slots or gates in 7 major airports. Under the deal, the new American was required to sell 104 slots at Ronald Reagan Washington National Airport and 34 slots at LaGuardia Airport. It was also required to sell gates at O'Hare International Airport, Los Angeles International Airport, Logan International Airport, Dallas Love Field and Miami International Airport. Some of the slots were expected to be sold to low-cost carriers such as JetBlue and Southwest Airlines.
A private antitrust suit, filed by a group of 40 passengers and travel agents, also sought to block the merger. American's bankruptcy court judge refused to enjoin the two airlines from merging, saying that the group did not demonstrate that the merger would irreparably harm them. The plaintiffs' lawyer appealed and was turned down at the U.S. District Court level and was further rebuffed at the Supreme Court after Justice Ruth Bader Ginsburg denied a stay request filed by him.
Implementation of merger
Following the Department of Justice approval, the merged Group company traded on the NASDAQ stock exchange under the symbol AAL. In December 2013 a severance package valued at about $17 million was agreed for Tom Horton, the outgoing AMR CEO, who had led American Airlines through bankruptcy and the major merger.
US Airways exited Star Alliance upon completion of the merger, and American retained its membership in Oneworld.
On July 13, 2015, American announced that it planned to discontinue the US Airways brand name by October 17, 2015, and on October 16, 2015, US Airways flew its final flight, US Airways Flight 1939, from Philadelphia to Charlotte to Phoenix to San Francisco to Philadelphia.
In March 2021, American Airlines Group said that it will repay the US government debt by issuing a private offering of notes worth about $5 billion, half due in 2026 and half in 2029, and a $2.5 billion term loan credit facility.
Corporate affairs
Ownership and group structure
American Airlines Group, Inc. is publicly traded under the ticker symbol "AAL" on the Nasdaq Global Select Market, with a market capitalization of about $6.4 billion as of August 2024, and is included in the S&P MidCap 400 index. It was formerly a member of the S&P 500 index until September 23, 2024.
The group operates through its principal wholly owned mainline operating subsidiary, American Airlines.
It also has three subsidiaries, regional carriers Envoy Air Inc., Piedmont Airlines, Inc., and PSA Airlines Inc., that, together with two independent carriers, operate American Eagle under a codeshare and service agreement with American Airlines.
Group business trends
The key trends for American Airlines Group since December 9, 2013, the earliest date that American and US Airways were under common control, are shown below (as at year ending December 31):
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AAL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.98
Market Cap
$9.23B
P/E (TTM)
82.3
EPS (TTM)
$0.17
Revenue (TTM)
$54.63B
Div Yield
2.0%
ROE
-2.9%
Debt/Equity
-1.0
52W Range
$10 – $19
AAL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$54.63B
2016-12-31
→
2025-12-31
EPS
$0.17
2016-12-31
→
2025-12-31
Free Cash Flow
$-680M
2016-12-31
→
2025-12-31
Margins
0.20%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AAL
Peer Median
P/E (TTM)
82.3
20.2
P/S (TTM)
0.2
0.7
P/B
-2.5
2.2
EV / EBITDA
3.3
—
Price / FCF
-13.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AAL
Peer Median
Operating Margin
2.7%
—
Net Profit Margin
0.20%
0.43%
ROA
0.18%
0.34%
ROE
-2.9%
6.3%
ROIC
-996.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AAL
Peer Median
Debt / Equity
-1.0
—
Current Ratio
0.5
0.5
Quick Ratio
0.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AAL
Peer Median
Revenue YoY
0.78%
—
Revenue CAGR 3Y
3.7%
—
Revenue CAGR 5Y
25.8%
—
EPS YoY
-86.3%
—
Net Income YoY
-86.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AAL
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.0%
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Feb. 4, 2020 | $0.1000 |
| Nov. 5, 2019 | $0.1000 |
| Aug. 6, 2019 | $0.1000 |
| May 7, 2019 | $0.1000 |
| Feb. 5, 2019 | $0.1000 |
| Nov. 5, 2018 | $0.1000 |
| Aug. 6, 2018 | $0.1000 |
| May 7, 2018 | $0.1000 |
| Feb. 5, 2018 | $0.1000 |
| Nov. 10, 2017 | $0.1000 |
| Aug. 10, 2017 | $0.1000 |
| May 12, 2017 | $0.1000 |
| Feb. 9, 2017 | $0.1000 |
| Nov. 3, 2016 | $0.1000 |
| Aug. 3, 2016 | $0.1000 |
| May 2, 2016 | $0.1000 |
| Feb. 8, 2016 | $0.1000 |
| Nov. 3, 2015 | $0.1000 |
| Aug. 6, 2015 | $0.1000 |
| April 30, 2015 | $0.1000 |
AAL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
30 analysts
- Strong Buy 4 13.3%
- Buy 11 36.7%
- Hold 14 46.7%
- Sell 1 3.3%
- Strong Sell 0 0.0%
12-Month Price Target
23 analysts · 2026-08-17
Median
$19.00
Now
$13.98
Low
$10.30
High
$25.00
Median target
$19.00
+35.9%
Mean target
$19.03
+36.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.15 | $0.03 | 0.12% |
| March 31, 2026 | $-0.40 | $-0.48 | 0.08% |
| Dec. 31, 2025 | $0.16 | $0.35 | -0.19% |
| Sept. 30, 2025 | $-0.17 | $-0.28 | 0.11% |
| June 30, 2025 | $0.95 | $0.79 | 0.16% |
| March 31, 2025 | $-0.59 | $-0.65 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AAL | $10.12B | 90.2 | 0.78% | 0.20% | -2.9% | — |
| DAL | $45.80B | 9.1 | 2.8% | 7.9% | 26.1% | — |
| UAL | $36.17B | 11.0 | 3.5% | 5.7% | 23.4% | — |
| LUV | — | 52.3 | 2.1% | — | — | — |
| JOBY | $12.08B | -11.7 | 39183.1% | -1740.5% | -80.6% | — |
| ALK | $5.81B | 60.6 | 21.3% | 0.70% | 2.5% | — |
| SKYW | $8.46B | 9.7 | 15.0% | 10.5% | 16.1% | — |
| ALGT | — | -34.4 | 3.7% | — | — | — |
| JBLU | $1.68B | -2.7 | -2.3% | -6.6% | -26.6% | — |
| ULCC | $1.08B | -7.8 | -1.4% | -3.7% | -27.5% | — |
| RJET | $840M | 9.8 | 251.9% | 4.5% | 11.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54.63B | $54.21B | $52.79B | $48.97B | $29.88B | $17.34B | $45.77B | $44.54B | $42.62B | $40.14B | $40.99B | $42.65B | |
| Operating Expenses | $53.17B | $51.60B | $49.75B | $47.36B | $30.94B | $27.76B | $42.70B | $41.88B | $38.39B | $35.08B | $34.79B | $38.40B | |
| Operating Income | $1.47B | $2.61B | $3.03B | $1.61B | $-1.06B | $-10.42B | $3.06B | $2.66B | $4.23B | $5.06B | $6.20B | $4.25B | |
| Interest Expense | · | · | $2.15B | $1.96B | $1.80B | $1.23B | $1.09B | $1.06B | $1.05B | $991M | $880M | $887M | |
| Interest Income | $357M | $468M | $591M | $216M | $18M | $41M | $127M | $118M | $94M | $63M | $39M | $31M | |
| Other Non-op | $82M | $6M | $-359M | $325M | $293M | $154M | $159M | $166M | $123M | $20M | $-747M | $-181M | |
| Pretax Income | $190M | $1.15B | $1.12B | $186M | $-2.55B | $-11.45B | $2.26B | $1.88B | $3.40B | $4.15B | $4.62B | $3.21B | |
| Income Tax | $79M | $308M | $299M | $59M | $-555M | $-2.57B | $570M | $472M | $2.11B | $1.57B | $-2.99B | $330M | |
| Net Income | $111M | $846M | $822M | $127M | $-1.99B | $-8.88B | $1.69B | $1.41B | $1.28B | $2.58B | $7.61B | $2.88B | |
| EPS (Basic) | $0.17 | $1.29 | $1.26 | $0.20 | $-3.09 | $-18.36 | $3.80 | $3.04 | $2.62 | $4.68 | $11.39 | $4.02 | |
| EPS (Diluted) | $0.17 | $1.24 | $1.21 | $0.19 | $-3.09 | $-18.36 | $3.79 | $3.03 | $2.61 | $4.65 | $11.07 | $3.93 | |
| Shares (Basic) | 659,964,000 | 656,996,000 | 653,612,000 | 650,345,000 | 644,015,000 | 483,888,000 | 443,363,000 | 464,236,000 | 489,164,000 | 552,308,000 | 668,393,000 | 717,456,000 | |
| Shares (Diluted) | 661,052,000 | 721,300,000 | 719,669,000 | 655,122,000 | 644,015,000 | 483,888,000 | 444,269,000 | 465,660,000 | 491,692,000 | 556,099,000 | 687,355,000 | 734,016,000 | |
| EBITDA | $3.67B | $4.81B | $5.33B | $3.91B | $1.24B | $-8.02B | $5.67B | $5.06B | $6.26B | $5.28B | $6.20B | $4.25B |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $954M | $804M | $578M | $440M | $273M | $245M | $280M | $275M | $295M | $322M | $390M | $994M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $4.77B | $6.04B | $5.86B | $6.31B | |
| Receivables | $2.08B | $2.01B | $2.03B | $2.14B | $1.50B | $1.34B | $1.75B | $1.71B | $1.75B | $1.59B | $1.43B | $1.77B | |
| Prepaid Expense | $767M | $794M | $658M | $892M | $615M | $666M | $621M | $495M | $651M | $639M | $748M | $898M | |
| Current Assets | $12.21B | $13.15B | $13.57B | $15.27B | $17.34B | $11.10B | $8.21B | $8.64B | $9.15B | $10.32B | $9.98B | $11.75B | |
| PP&E (Net) | · | · | · | · | · | · | $34.99B | $34.10B | $34.16B | $31.16B | $27.51B | $23.08B | |
| PP&E (Gross) | · | · | · | · | · | · | $53.65B | $51.54B | $49.80B | $45.35B | $40.65B | $35.34B | |
| Accum. Depreciation | · | · | · | · | · | · | $18.66B | $17.44B | $15.65B | $14.19B | $13.14B | $12.26B | |
| Goodwill | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.10B | $4.09B | $4.09B | $4.09B | |
| Intangibles | $2.07B | $2.04B | $2.05B | $2.06B | $1.99B | $2.03B | $2.08B | $2.14B | $2.20B | $2.17B | $2.25B | $2.24B | |
| Other Non-current Assets | $9.94B | $10.17B | $10.78B | $11.15B | $11.74B | $11.18B | $8.06B | $8.69B | $9.48B | $9.79B | $10.92B | $8.39B | |
| Total Assets | $61.77B | $61.78B | $63.06B | $64.72B | $66.47B | $62.01B | $59.99B | $60.58B | $52.78B | $51.27B | $48.41B | $43.23B | |
| Accounts Payable | $2.84B | $2.46B | $2.35B | $2.15B | $1.77B | $1.20B | $2.06B | $1.77B | $1.69B | $1.59B | $1.56B | $1.38B | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | $3.29B | |
| Current Liabilities | $24.49B | $24.30B | $22.06B | $21.50B | $19.01B | $16.57B | $18.31B | $18.10B | $15.36B | $13.87B | $13.61B | $13.40B | |
| Capital Leases | $5.91B | $5.98B | $6.45B | $6.56B | $6.61B | $6.78B | $7.42B | $7.90B | $693M | · | · | · | |
| Other Non-current Liabilities | $1.44B | $1.71B | $1.56B | $1.26B | $1.33B | $1.50B | $1.45B | $1.39B | $2.50B | $3.29B | $2.73B | $3.04B | |
| Long-term Debt | $24.64B | $24.62B | $28.89B | $31.84B | $35.01B | $29.32B | $20.90B | $20.57B | $21.82B | · | · | · | |
| Total Debt | $3.64B | $5.20B | $3.50B | $3.06B | $2.31B | $2.70B | $2.75B | $3.21B | · | · | · | · | |
| Common Stock | $7M | $7M | $7M | $6M | $6M | $6M | $4M | $5M | $5M | $5M | $6M | $7M | |
| Retained Earnings | $-6.73B | $-6.84B | $-7.69B | $-8.51B | $-8.64B | $-6.66B | $2.26B | $758M | $-1.34B | $1.64B | $-1.23B | $-8.56B | |
| AOCI | $-4.39B | $-4.57B | $-4.89B | $-4.58B | $-5.94B | $-7.10B | $-6.33B | $-5.90B | $-5.78B | $-5.08B | $-4.73B | $-4.56B | |
| Stockholders' Equity | $-3.73B | $-3.98B | $-5.20B | $-5.80B | $-7.34B | $-6.87B | $-118M | $-169M | $-780M | $-284M | $5.63B | $2.02B | |
| Liabilities + Equity | $61.77B | $61.78B | $63.06B | $64.72B | $66.47B | $62.01B | $59.99B | $60.58B | $52.78B | $51.27B | $48.41B | $43.23B | |
| Shares Outstanding | 660,301,080 | 657,566,166 | 654,273,192 | 650,642,461 | 647,727,595 | 621,479,522 | 428,202,506 | 460,610,870 | 475,507,887 | 507,294,153 | 624,622,381 | 697,474,535 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.20B | $2.20B | $2.30B | $2.30B | $2.30B | $2.40B | $2.60B | $2.40B | $2.20B | $1.90B | $1.70B | $1.29B | |
| Stock-based Comp | $57M | $92M | $102M | $78M | $98M | $91M | $94M | $86M | $90M | $100M | $284M | $304M | |
| Deferred Tax | $79M | $308M | $299M | $65M | $-555M | $-2.57B | $560M | $440M | $2.09B | $1.56B | $-3.01B | $346M | |
| Amort. of Intangibles | · | · | $7M | $41M | $41M | $41M | $41M | $41M | $44M | $76M | $55M | $81M | |
| Restructuring | · | · | · | · | · | · | $271M | $422M | $232M | $177M | $210M | $88M | |
| Other Non-cash | $652M | $537M | $280M | $-397M | $854M | $2.42B | $-1.12B | $-805M | $-606M | · | · | · | |
| Operating Cash Flow | $3.10B | $3.98B | $3.80B | $2.17B | $704M | $-6.54B | $3.81B | $3.53B | $4.74B | $6.52B | $6.25B | $3.08B | |
| CapEx | $3.78B | $2.68B | $2.60B | $2.55B | $208M | $1.96B | $4.27B | $3.75B | $5.97B | $5.73B | $6.15B | $5.31B | |
| Investing Cash Flow | $-1.89B | $-968M | $-502M | $636M | $-5.98B | $-4.34B | $-2.24B | $-1.97B | $-3.64B | $-5.70B | $-5.59B | $-2.91B | |
| Debt Issued | $3.77B | $1.67B | $4.82B | $1.07B | $12.19B | $11.78B | $3.96B | $2.35B | $3.06B | $7.70B | $5.01B | $3.30B | |
| Net Debt Issued | $3.77B | $1.67B | $4.82B | $1.07B | $12.19B | $11.78B | $3.96B | $2.35B | $3.06B | $7.70B | $5.01B | $2.99B | |
| Stock Repurchased | · | · | · | $21M | $18M | $173M | $1.10B | $837M | $1.61B | $4.50B | $3.85B | $1.06B | |
| Net Stock Activity | · | · | · | $-21M | $-18M | $-173M | $-1.10B | $-837M | $-1.61B | $-4.50B | $-3.85B | $-1.06B | |
| Dividends Paid | · | · | · | · | · | $43M | $178M | $186M | $198M | $224M | $269M | $144M | |
| Financing Cash Flow | $-1.05B | $-2.79B | $-3.21B | $-2.63B | $5.29B | $10.99B | $-1.57B | $-1.67B | $-1.15B | $-894M | $-1.26B | $-315M | |
| Net Change in Cash | $154M | $221M | $95M | $178M | $9M | $109M | $4M | $-112M | $-37M | · | · | · | |
| Free Cash Flow | $-680M | $1.30B | $1.21B | $-373M | $496M | $-8.50B | $-453M | $-212M | $-1.23B | $793M | $98M | $-2.23B | |
| Levered FCF | · | · | $-366M | $-1.71B | $-912M | $-9.45B | $-1.27B | $-1.00B | $-1.88B | $176M | $-1.35B | $-3.03B |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 2.7% | 4.8% | 5.8% | 3.3% | -3.5% | -60.1% | 6.7% | 6.0% | 9.6% | 13.2% | 15.1% | 10.0% | |
| Net Margin | 0.20% | 1.6% | 1.6% | 0.26% | -6.7% | -51.2% | 3.7% | 3.2% | 4.5% | 6.7% | 18.6% | 6.8% | |
| Pretax Margin | 0.35% | 2.1% | 2.1% | 0.38% | -8.5% | -66.1% | 4.9% | 4.2% | 7.3% | 10.7% | 11.3% | 7.5% | |
| EBITDA Margin | 6.7% | 8.9% | 10.1% | 8.0% | 4.2% | -46.3% | 12.4% | 11.3% | 14.8% | 13.2% | 15.1% | 10.0% | |
| ROA | 0.18% | 1.4% | 1.3% | 0.19% | -3.1% | -14.6% | 2.8% | 2.5% | 3.7% | 5.4% | 16.6% | 6.7% | |
| ROE | -2.9% | -19.2% | -15.9% | -1.9% | 27.0% | 143.4% | 8028.6% | -500.7% | 105.4% | 56.8% | 198.8% | -811.8% | |
| ROIC | -996.6% | 157.2% | -130.8% | -40.1% | 16.5% | 193.9% | 87.1% | 65.4% | 64.3% | 86.9% | 181.5% | 188.6% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.5 | 0.6 | 0.7 | 0.9 | 0.7 | 0.4 | 0.5 | 0.6 | 0.7 | 0.7 | 0.9 | |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.1 | 0.7 | 0.5 | 0.1 | 0.1 | 0.5 | 0.6 | 0.6 | 0.7 | |
| Debt / Equity | -1.0 | -1.3 | -0.7 | -0.5 | -0.3 | -0.4 | -23.3 | -19.0 | · | · | · | · | |
| Interest Coverage | · | · | 1.4 | 0.8 | -0.6 | -8.5 | 2.8 | 2.5 | 3.9 | 5.3 | 7.0 | 4.8 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 0.9 | 0.8 | 0.7 | 0.5 | 0.3 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 1.0 | |
| Receivables Turnover | 26.8 | 26.9 | 25.4 | 26.9 | 21.0 | 11.2 | 26.5 | 25.8 | 25.2 | 26.6 | 25.7 | 25.6 |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.78% | 2.7% | 7.8% | 63.9% | 72.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 3.7% | 22.0% | 44.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 25.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -86.3% | 2.5% | 536.8% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -3.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -86.9% | 2.9% | 547.2% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -4.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $54.63B | $54.21B | $52.79B | $48.97B | $29.88B | $17.34B | $45.77B | $44.54B | $42.62B | $40.14B | $40.99B | $42.65B | |
| Net Income TTM | $111M | $846M | $822M | $127M | $-1.99B | $-8.88B | $1.69B | $1.41B | $1.28B | $2.58B | $7.61B | $2.88B | |
| Market Cap | $10.12B | $11.46B | $8.99B | $8.28B | $11.63B | $9.80B | $12.28B | $14.79B | $24.74B | $23.69B | $26.45B | $37.41B | |
| Enterprise Value | $12.81B | $15.85B | $11.91B | $10.90B | $1.55B | $5.60B | $14.75B | $17.73B | · | · | · | · | |
| P/E | 90.2 | 14.1 | 11.4 | 66.9 | -5.8 | -0.9 | 7.6 | 10.6 | 19.9 | 10.0 | 3.8 | 13.6 | |
| P/S | 0.2 | 0.2 | 0.2 | 0.2 | 0.4 | 0.6 | 0.3 | 0.3 | 0.6 | 0.6 | 0.6 | 0.9 | |
| P/B | -2.7 | -2.9 | -1.7 | -1.4 | -1.6 | -1.4 | -104.1 | -87.5 | 6.3 | 6.3 | 4.7 | 18.5 | |
| P / Cash Flow | 3.3 | 2.9 | 2.4 | 3.8 | 16.5 | -1.5 | 3.2 | 4.2 | 5.2 | 3.6 | 4.2 | 12.1 | |
| P / FCF | -14.9 | 8.8 | 7.4 | -22.2 | 23.5 | -1.2 | -27.1 | -69.8 | -20.2 | 29.9 | 269.9 | -16.8 | |
| EV / EBITDA | 3.5 | 3.3 | 2.2 | 2.8 | 1.2 | -0.7 | 2.6 | 3.5 | · | · | · | · | |
| EV / FCF | -18.8 | 12.2 | 9.9 | -29.2 | 3.1 | -0.7 | -32.6 | -83.6 | · | · | · | · | |
| EV / Revenue | 0.2 | 0.3 | 0.2 | 0.2 | 0.1 | 0.3 | 0.3 | 0.4 | · | · | · | · | |
| Dividend Yield | 1.8% | 1.6% | 2.1% | 2.2% | 1.6% | 0.44% | 1.5% | 1.3% | 0.80% | 0.95% | 1.0% | 0.38% | |
| Earnings Yield | 1.1% | 7.1% | 8.8% | 1.5% | -17.2% | -116.4% | 13.2% | 9.4% | 5.0% | 10.0% | 26.1% | 7.3% | |
| Payout Ratio | · | · | · | · | · | -0.48% | 10.6% | 13.2% | 10.3% | 8.4% | 3.6% | 5.0% | |
| Annual Payout | $186M | $186M | $186M | $186M | $186M | $43M | $178M | $186M | $198M | $224M | $269M | $144M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.73B | $13.91B | $14.00B | $13.69B | $14.39B | $12.55B | $13.66B | $13.65B | $14.33B | $12.57B | $13.06B | $13.48B | $14.05B | $12.19B | $13.19B | $13.46B | |
| Operating Expenses | $16.29B | $13.95B | $13.55B | $13.54B | $13.26B | $12.82B | $12.53B | $13.56B | $12.95B | $12.56B | $12.41B | $13.71B | $11.89B | $11.75B | $11.80B | $12.53B | |
| Operating Income | $446M | $-41M | $451M | $151M | $1.14B | $-270M | $1.13B | $89M | $1.38B | $7M | $656M | $-223M | $2.16B | $438M | $1.38B | $930M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $497M | · | $537M | $548M | $540M | · | $499M | |
| Interest Income | $74M | $55M | $73M | $90M | $100M | $94M | $105M | $117M | $128M | $118M | $136M | $168M | $162M | $125M | $109M | $70M | |
| Other Non-op | $-4M | $-93M | $41M | $49M | $36M | $-44M | $27M | $18M | $2M | $-41M | $-241M | $-98M | $-14M | $-6M | $51M | $157M | |
| Pretax Income | $107M | $-476M | $142M | $-142M | $838M | $-648M | $795M | $-256M | $1.03B | $-413M | $31M | $-690M | $1.76B | $17M | $1.01B | $658M | |
| Income Tax | $36M | $-94M | $43M | $-28M | $239M | $-175M | $205M | $-107M | $311M | $-101M | $12M | $-145M | $425M | $7M | $208M | $175M | |
| Net Income | $71M | $-382M | $99M | $-114M | $599M | $-473M | $590M | $-149M | $717M | $-312M | $19M | $-545M | $1.34B | $10M | $803M | $483M | |
| EPS (Basic) | $0.11 | $-0.58 | $0.15 | $-0.17 | $0.91 | $-0.72 | $0.91 | $-0.23 | $1.09 | $-0.48 | $0.02 | $-0.83 | $2.05 | $0.02 | $1.25 | $0.74 | |
| EPS (Diluted) | $0.11 | $-0.58 | $0.15 | $-0.17 | $0.91 | $-0.72 | $0.94 | $-0.23 | $1.01 | $-0.48 | $0.14 | $-0.83 | $1.88 | $0.02 | $1.34 | $0.69 | |
| Shares (Basic) | 662,190,000 | 661,181,000 | -1,319,401,000 | 660,358,000 | 660,127,000 | 658,880,000 | -1,313,240,000 | 657,424,000 | 656,965,000 | 655,847,000 | -1,306,109,000 | 654,119,000 | 653,602,000 | 652,000,000 | -1,300,090,000 | 650,586,000 | |
| Shares (Diluted) | 662,613,000 | 661,181,000 | -1,318,553,000 | 660,358,000 | 660,367,000 | 658,880,000 | -1,312,273,000 | 657,424,000 | 720,302,000 | 655,847,000 | -1,310,502,000 | 654,119,000 | 719,345,000 | 656,707,000 | -1,428,898,000 | 715,985,000 | |
| EBITDA | $446M | $-41M | · | $151M | $1.14B | $-270M | · | $89M | $1.38B | $7M | · | $-223M | $2.16B | $438M | · | $930M |
Balance Sheet 20
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.03B | $903M | $954M | $835M | $833M | $835M | $804M | $834M | $605M | $604M | $578M | $577M | $614M | $452M | $440M | $332M | |
| Receivables | $1.89B | $2.01B | $2.08B | $2.03B | $2.06B | $1.93B | $2.01B | $1.82B | $2.07B | $2.07B | · | $2.02B | $2.07B | $1.99B | · | $1.99B | |
| Prepaid Expense | $797M | $834M | $767M | $822M | $855M | $909M | $794M | $830M | $832M | $777M | · | $719M | $822M | $907M | · | $986M | |
| Current Assets | $14.28B | $13.98B | $12.21B | $13.25B | $15.07B | $13.60B | $13.15B | $14.46B | $14.79B | $14.54B | · | $16.71B | $18.22B | $17.65B | · | $17.38B | |
| Goodwill | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | $4.09B | · | $4.09B | $4.09B | $4.09B | · | $4.09B | |
| Intangibles | $2.07B | $2.06B | $2.07B | $2.04B | $2.04B | $2.04B | $2.04B | $2.05B | $2.05B | $2.05B | · | $2.05B | $2.06B | $2.06B | · | $2.07B | |
| Other Non-current Assets | $9.96B | $9.99B | $9.94B | $9.94B | $9.91B | $10.25B | $10.17B | $10.52B | $10.41B | $10.79B | · | $10.81B | $10.69B | $11.15B | · | $11.74B | |
| Total Assets | $64.23B | $63.74B | $61.77B | $62.14B | $63.67B | $62.61B | $61.78B | $63.53B | $64.12B | $64.38B | · | $65.71B | $67.26B | $66.79B | · | $66.65B | |
| Accounts Payable | $3.64B | $3.61B | $2.84B | $2.83B | $3.13B | $3.11B | $2.46B | $2.62B | $3.02B | $2.93B | · | $2.12B | $2.41B | $2.46B | · | $2.12B | |
| Current Liabilities | $26.76B | $28.41B | $24.49B | $24.64B | $25.77B | $26.11B | $24.30B | $25.53B | $24.61B | $24.99B | · | $24.38B | $24.32B | $24.59B | · | $21.97B | |
| Capital Leases | $5.75B | $5.76B | $5.91B | $6.20B | $6.20B | $6.06B | $5.98B | $6.35B | $6.48B | $6.46B | · | $6.33B | $6.51B | $6.33B | · | $6.28B | |
| Other Non-current Liabilities | $1.49B | $1.53B | $1.44B | $1.57B | $1.67B | $1.65B | $1.71B | $1.63B | $1.46B | $1.50B | · | $1.65B | $1.47B | $1.44B | · | $1.37B | |
| Long-term Debt | $25.25B | $22.93B | $24.64B | $24.54B | $24.70B | $24.22B | $24.62B | $25.85B | $27.21B | $27.85B | · | $29.31B | $30.34B | $31.09B | · | $33.60B | |
| Total Debt | $2.98B | $4.08B | · | $3.51B | $4.51B | $4.64B | · | $5.26B | $3.98B | $3.97B | · | $3.61B | $3.72B | $3.37B | · | $2.56B | |
| Common Stock | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | · | $7M | $7M | $7M | · | $6M | |
| Retained Earnings | $-7.04B | $-7.11B | $-6.73B | $-6.83B | $-6.72B | $-7.32B | $-6.84B | $-7.43B | $-7.28B | $-8.00B | · | $-7.71B | $-7.16B | $-8.50B | · | $-9.31B | |
| AOCI | $-4.36B | $-4.37B | $-4.39B | $-4.51B | $-4.53B | $-4.55B | $-4.57B | $-4.83B | $-4.86B | $-4.88B | · | $-4.79B | $-4.55B | $-4.57B | · | $-5.86B | |
| Stockholders' Equity | $-3.97B | $-4.08B | $-3.73B | $-3.96B | $-3.87B | $-4.51B | $-3.98B | $-4.85B | $-4.75B | $-5.50B | $-5.20B | $-5.14B | $-4.38B | $-5.77B | $-5.80B | $-7.89B | |
| Liabilities + Equity | $64.23B | $63.74B | $61.77B | $62.14B | $63.67B | $62.61B | $61.78B | $63.53B | $64.12B | $64.38B | · | $65.71B | $67.26B | $66.79B | · | $66.65B | |
| Shares Outstanding | 661,936,666 | 661,385,137 | 660,301,080 | 660,064,930 | 659,797,256 | 659,481,003 | 657,566,166 | 657,102,842 | 656,607,802 | 656,045,635 | · | 653,504,063 | 653,286,761 | 652,817,674 | · | 649,863,026 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $478M | $475M | $472M | $474M | $476M | $468M | $503M | $479M | $474M | $470M | $480M | $487M | $483M | $486M | $490M | $491M | |
| Operating Cash Flow | $471M | $4.22B | $-274M | $-46M | $963M | $2.46B | $398M | $277M | $1.13B | $2.18B | $-1.35B | $58M | $1.76B | $3.33B | $-158M | $-593M | |
| CapEx | $822M | $811M | $1.63B | $826M | $499M | $824M | $740M | $468M | $651M | $824M | $843M | $509M | $739M | $505M | $686M | $455M | |
| Investing Cash Flow | $-1.11B | $-2.33B | $-390M | $974M | $-1.27B | $-1.20B | $866M | $58M | $-376M | $-1.52B | $2.16B | $1.08B | $-949M | $-2.80B | $1.55B | $784M | |
| Debt Issued | $3.52B | $997M | $1.60B | $510M | $1.33B | $325M | $418M | $725M | $279M | $248M | $2.50B | $181M | $319M | $1.82B | $370M | $125M | |
| Net Debt Issued | · | $997M | · | · | · | $325M | · | · | · | $248M | · | · | · | $1.82B | · | · | |
| Financing Cash Flow | $784M | $-1.95B | $782M | $-921M | $311M | $-1.22B | $-1.29B | $-142M | $-715M | $-642M | $-814M | $-1.23B | $-619M | $-539M | $-1.28B | $-252M | |
| Net Change in Cash | $144M | $-54M | $118M | $7M | $0 | $29M | $-31M | $193M | $37M | $22M | $-6M | $-92M | $195M | $-2M | $110M | $-61M | |
| Free Cash Flow | · | $3.41B | · | · | · | $1.63B | · | · | · | $1.36B | · | · | · | $2.83B | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $981M | · | · | · | $2.51B | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 2.7% | -0.29% | · | 1.1% | 7.9% | -2.1% | · | 0.65% | 9.7% | 0.06% | · | -1.7% | 15.4% | 3.6% | · | 6.9% | |
| Net Margin | 0.42% | -2.8% | · | -0.83% | 4.2% | -3.8% | · | -1.1% | 5.0% | -2.5% | · | -4.0% | 9.5% | 0.08% | · | 3.6% | |
| Pretax Margin | 0.64% | -3.4% | · | -1.0% | 5.8% | -5.2% | · | -1.9% | 7.2% | -3.3% | · | -5.1% | 12.5% | 0.14% | · | 4.9% | |
| EBITDA Margin | 2.7% | -0.29% | · | 1.1% | 7.9% | -2.1% | · | 0.65% | 9.7% | 0.06% | · | -1.7% | 15.4% | 3.6% | · | 6.9% | |
| ROA | 0.11% | -0.60% | · | -0.18% | 0.94% | -0.74% | · | -0.23% | 1.1% | -0.48% | · | -0.82% | 2.0% | 0.01% | · | 0.72% | |
| ROE | -1.8% | 8.9% | · | 2.6% | -13.9% | 9.4% | · | 3.0% | -15.7% | 5.5% | · | 8.4% | -20.9% | -0.14% | · | -6.3% | |
| ROIC | -29.8% | -548.4% | · | -26.7% | 126.0% | -149.3% | · | 12.7% | -126.4% | -0.35% | · | 11.5% | -245.7% | -10.7% | · | -12.8% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.8 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Debt / Equity | -0.8 | -1.0 | · | -0.9 | -1.2 | -1.0 | · | -1.1 | -0.8 | -0.7 | · | -0.7 | -0.8 | -0.6 | · | -0.3 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 0.0 | · | -0.4 | 3.9 | 0.8 | · | 1.9 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 8.5 | 7.1 | · | 7.1 | 7.0 | 6.3 | · | 7.1 | 6.9 | 6.2 | · | 6.7 | 7.2 | 6.9 | · | 8.1 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $58.73B | $54.55B | · | $54.28B | $54.92B | $53.10B | · | $54.03B | $54.44B | $52.30B | · | $53.19B | $53.13B | $47.97B | · | $44.75B | |
| Net Income TTM | $174M | $-370M | · | $-137M | $694M | $-217M | · | $-289M | $1.20B | $491M | · | $1.29B | $2.31B | $-666M | · | $-507M | |
| Market Cap | $11.96B | $7.10B | · | $7.42B | $7.40B | $6.96B | · | $7.39B | $7.44B | $10.07B | · | $8.37B | $11.72B | $9.63B | · | $7.82B | |
| Enterprise Value | $13.91B | $10.28B | · | $10.09B | $11.08B | $10.76B | · | $11.81B | $10.82B | $13.44B | · | $11.40B | $14.82B | $12.55B | · | $10.05B | |
| P/E | 66.9 | -19.2 | · | -53.5 | 11.6 | -25.1 | · | -21.2 | 7.2 | 26.0 | · | 7.3 | 5.5 | -13.1 | · | -13.4 | |
| P/S | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| P/B | -3.0 | -1.7 | · | -1.9 | -1.9 | -1.5 | · | -1.5 | -1.6 | -1.8 | · | -1.6 | -2.7 | -1.7 | · | -1.0 | |
| P / Cash Flow | · | 1.7 | · | · | · | 2.8 | · | · | · | 4.6 | · | · | · | 2.9 | · | · | |
| P / FCF | · | 2.1 | · | · | · | 4.3 | · | · | · | 7.4 | · | · | · | 3.4 | · | · | |
| EV / EBITDA | 31.2 | -250.8 | · | 66.8 | 9.8 | -39.9 | · | 132.7 | 7.8 | 1920.0 | · | -51.1 | 6.9 | 28.6 | · | 10.8 | |
| EV / FCF | · | 3.0 | · | · | · | 6.6 | · | · | · | 9.9 | · | · | · | 4.4 | · | · | |
| EV / Revenue | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.2 | 0.3 | 0.3 | · | 0.2 | |
| Dividend Yield | 1.6% | 2.6% | · | 2.5% | 2.5% | 2.7% | · | 2.5% | 2.5% | 1.8% | · | 2.2% | 1.6% | 1.9% | · | 2.4% | |
| Earnings Yield | 1.5% | -5.2% | · | -1.9% | 8.6% | -4.0% | · | -4.7% | 14.0% | 3.8% | · | 13.7% | 18.2% | -7.7% | · | -7.5% | |
| Annual Payout | $186M | $186M | · | $186M | $186M | $186M | · | $186M | $186M | $186M | · | $186M | $186M | $186M | · | $186M |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $54.63B | $54.21B | $52.79B | $48.97B | $29.88B |
| Operating Margin % | 2.7% | 4.8% | 5.8% | 3.3% | -3.5% |
| Net Income | $111M | $846M | $822M | $127M | $-1.99B |
| Diluted EPS | $0.17 | $1.24 | $1.21 | $0.19 | $-3.09 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | -1.0 | -1.3 | -0.7 | -0.5 | -0.3 |
| Current Ratio | 0.5 | 0.5 | 0.6 | 0.7 | 0.9 |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.1 | 0.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-680M | $1.30B | $1.21B | $-373M | $496M |
Latest News Recent headlines mentioning this company
- Can Starlink Make American Airlines a Winner?
- Elon Musk Welcomes American Airlines To The Starlink Family
- As Berkshire Buys Delta Airlines, This Billionaire Just Sold Off AAL and UAL Stocks
- United Airlines CEO confirms he approached American Airlines about merger
- Stock Market Today, April 20: Market Rebound Stumbles as Oil Disruption Continues
- United CEO Scott Kirby and American CEO Robert Isom were once colleagues known as the ‘dream team.’ Now Kirby wants to acquire his rival
- American Airlines Shuts Down United Merger Talk As Wells Fargo Signals Another Possible Tie-Up
- United Airlines Floats Marriage of Giants with American amid Skyrocketing Jet Fuel Costs
- This Underrated Stock Is Up More Than 75% Over the Last 12 Months -- and It Could Keep Rising
- United Airlines' CEO Pitched Buying American to the Trump Administration. The Stocks Are Surging
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 701 filers · $8.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 117 (-7 vs prior Q) | 81 (-4 vs prior Q) | 181 (-3 vs prior Q) | 213 (+17 vs prior Q) | +78.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| PRIMECAP MANAGEMENT CO/CA/ | $1,278,144,480 | 70,732,954 | 15.12% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $540,213,149 | 29,895,581 | 6.39% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $531,637,922 | 29,421,025 | 6.29% | Shares |
| TWO SIGMA INVESTMENTS, LP | $492,244,563 | 27,240,983 | 5.82% | Shares |
| STATE STREET CORP | $353,608,577 | 19,568,820 | 4.18% | Shares |
| JANE STREET GROUP, LLC | $249,105,792 | 13,785,600 | 2.95% | Put option |
| JANE STREET GROUP, LLC | $226,755,099 | 12,548,705 | 2.68% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $201,940,437 | 11,171,596 | 2.39% | Shares |
| CITADEL ADVISORS LLC | $198,583,879 | 10,989,700 | 2.35% | Put option |
| TWO SIGMA ADVISERS, LP | $184,985,577 | 12,066,900 | 2.19% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $175,209,647 | 9,696,162 | 2.07% | Shares |
| Parallax Volatility Advisers, L.P. | $172,919,058 | 9,569,400 | 2.05% | Put option |
| Slate Path Capital LP | $149,557,873 | 8,276,584 | 1.77% | Shares |
| Hudson Bay Capital Management LP | $139,045,035 | 7,694,800 | 1.64% | Put option |
| APPALOOSA LP | $135,525,000 | 7,500,000 | 1.60% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $124,831,409 | 6,908,213 | 1.48% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $119,627,791 | 6,620,243 | 1.41% | Shares |
| Lombard Odier Asset Management (USA) Corp | $109,506,007 | 6,060,100 | 1.30% | Put option |
| U S GLOBAL INVESTORS INC | $108,441,178 | 6,001,172 | 1.28% | Shares |
| Sound Shore Management Inc /CT/ | $107,567,927 | 5,952,846 | 1.27% | Shares |
| JANE STREET GROUP, LLC | $100,761,934 | 5,576,200 | 1.19% | Call option |
| D. E. Shaw & Co., Inc. | $99,126,852 | 5,485,714 | 1.17% | Shares |
| BARCLAYS PLC | $96,855,200 | 5,360,000 | 1.15% | Put option |
| GOLDMAN SACHS GROUP INC | $88,398,133 | 4,891,983 | 1.05% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $77,838,766 | 4,307,624 | 0.92% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $77,066,689 | 4,264,897 | 0.91% | Shares |
| BARCLAYS PLC | $71,574,440 | 3,960,954 | 0.85% | Shares |
| CITADEL ADVISORS LLC | $66,287,356 | 3,668,365 | 0.78% | Shares |
| D. E. Shaw & Co., Inc. | $61,123,582 | 3,382,600 | 0.72% | Put option |
| Balyasny Asset Management L.P. | $60,158,644 | 3,329,200 | 0.71% | Shares |
| Walleye Capital LLC | $59,207,945 | 3,276,588 | 0.70% | Shares |
| FIRST TRUST ADVISORS LP | $55,710,496 | 3,083,038 | 0.66% | Shares |
| CITIGROUP INC | $51,463,360 | 2,848,000 | 0.61% | Put option |
| HENNESSY ADVISORS INC | $50,792,963 | 2,810,900 | 0.60% | Shares |
| Candlestick Capital Management LP | $45,209,528 | 4,022,200 | 0.53% | Put option |
| BANK OF AMERICA CORP /DE/ | $44,242,877 | 2,448,416 | 0.52% | Shares |
| Quadrature Capital Ltd | $44,033,988 | 2,436,856 | 0.52% | Shares |
| CREDIT AGRICOLE S A | $43,368,000 | 2,400,000 | 0.51% | Put option |
| Columbus Hill Capital Management, L.P. | $40,765,920 | 2,256,000 | 0.48% | Shares |
| FMR LLC | $40,484,118 | 2,240,405 | 0.48% | Shares |
| NOMURA HOLDINGS INC | $39,018,551 | 2,159,300 | 0.46% | Put option |
| Walleye Trading LLC | $37,961,456 | 2,100,800 | 0.45% | Call option |
| Cable Car Capital, LP | $36,759,801 | 2,034,300 | 0.43% | Shares |
| Walleye Trading LLC | $33,828,847 | 1,872,100 | 0.40% | Put option |
| D. E. Shaw & Co., Inc. | $33,259,642 | 1,840,600 | 0.39% | Call option |
| RHUMBLINE ADVISERS | $33,133,486 | 1,833,622 | 0.39% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $27,005,488 | 1,494,493 | 0.32% | Shares |
| NATIXIS | $26,723,886 | 1,478,909 | 0.32% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $25,424,635 | 1,407,008 | 0.30% | Shares |
| Longaeva Partners L.P. | $24,776,482 | 1,371,139 | 0.29% | Shares |
| MORGAN STANLEY | $23,114,107 | 1,279,142 | 0.27% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $23,107,120 | 1,278,756 | 0.27% | Shares |
| GOLDMAN SACHS GROUP INC | $22,688,692 | 1,255,600 | 0.27% | Put option |
| California Public Employees Retirement System | $21,900,442 | 1,211,978 | 0.26% | Shares |
| SEI INVESTMENTS CO | $21,878,140 | 1,210,744 | 0.26% | Shares |
| Assenagon Asset Management S.A. | $21,537,850 | 1,191,912 | 0.25% | Shares |
| Amundi | $21,266,818 | 1,176,913 | 0.25% | Shares |
| Aquatic Capital Management LLC | $20,371,323 | 1,127,356 | 0.24% | Shares |
| Parallax Volatility Advisers, L.P. | $20,166,120 | 1,116,000 | 0.24% | Call option |
| WOLVERINE TRADING, LLC | $18,772,448 | 1,649,600 | 0.22% | Put option |
| Hosking Partners LLP | $18,074,951 | 1,000,274 | 0.21% | Shares |
| PAR CAPITAL MANAGEMENT INC | $18,070,000 | 1,000,000 | 0.21% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $17,900,142 | 990,600 | 0.21% | Put option |
| Cerity Partners LLC | $17,022,682 | 942,041 | 0.20% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $16,965,958 | 938,902 | 0.20% | Shares |
| Cubist Systematic Strategies, LLC | $16,922,944 | 1,505,600 | 0.20% | Put option |
| ING GROEP NV | $16,866,538 | 933,400 | 0.20% | Shares |
| Retirement Systems of Alabama | $16,842,324 | 932,060 | 0.20% | Shares |
| UBS Group AG | $16,805,100 | 930,000 | 0.20% | Call option |
| CITIGROUP INC | $16,674,996 | 922,800 | 0.20% | Call option |
| GROUP ONE TRADING LLC | $16,165,512 | 894,605 | 0.19% | Shares |
| MARSHALL WACE, LLP | $15,862,677 | 877,846 | 0.19% | Shares |
| Squarepoint Ops LLC | $14,998,100 | 830,000 | 0.18% | Put option |
| Point72 Asset Management, L.P. | $14,866,189 | 822,700 | 0.18% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $14,392,755 | 796,500 | 0.17% | Call option |
| HSBC HOLDINGS PLC | $14,327,154 | 790,900 | 0.17% | Put option |
| WOLVERINE TRADING, LLC | $14,132,822 | 1,241,900 | 0.17% | Call option |
| BANK OF NOVA SCOTIA | $14,092,860 | 779,907 | 0.17% | Shares |
| UBS Group AG | $12,652,614 | 700,200 | 0.15% | Put option |
| MILLENNIUM MANAGEMENT LLC | $11,188,944 | 619,200 | 0.13% | Put option |
| Sculptor Capital LP | $11,154,611 | 617,300 | 0.13% | Put option |
| AMERIPRISE FINANCIAL INC | $10,992,090 | 608,306 | 0.13% | Shares |
| Quantinno Capital Management LP | $10,948,795 | 605,910 | 0.13% | Shares |
| Hodges Capital Management Inc. | $10,551,597 | 583,929 | 0.12% | Shares |
| Rockefeller Capital Management L.P. | $10,452,664 | 578,454 | 0.12% | Shares |
| Leonteq Securities AG | $10,090,667 | 558,421 | 0.12% | Shares |
| GATEWAY INVESTMENT ADVISERS LLC | $9,916,346 | 548,774 | 0.12% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $9,718,968 | 537,851 | 0.11% | Shares |
| Centiva Capital, LP | $9,396,400 | 520,000 | 0.11% | Put option |
| CAPITAL FUND MANAGEMENT S.A. | $9,253,647 | 512,100 | 0.11% | Put option |
| KWMG, LLC | $9,080,283 | 502,506 | 0.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $8,921,535 | 830,683 | 0.11% | Shares |
| Squarepoint Ops LLC | $8,576,022 | 474,600 | 0.10% | Call option |
| NORGES BANK | $8,550,236 | 473,173 | 0.10% | Shares |
| BlackRock, Inc. | $8,528,353 | 471,962 | 0.10% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $8,392,756 | 464,458 | 0.10% | Shares |
| Bridgewater Associates, LP | $8,325,156 | 460,717 | 0.10% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $8,239,920 | 456,000 | 0.10% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $8,062,834 | 446,200 | 0.10% | Call option |
| TUDOR INVESTMENT CORP ET AL | $7,558,681 | 418,300 | 0.09% | Put option |
Company insiders 56 insiders · 14 officers · 28 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Gerard J Arpey | Chairman and CEO | May 20, 2011 D | 2,455,718 | 0 | 0 | $0 |
| Isabella D Goren | SVP / Chief Financial Officer | Dec. 9, 2013 D | 164,873 | 0 | 0 | $0 |
| James A Beer | Sr. VP and CFO | Feb. 22, 2006 M | 33,648 | 0 | 0 | $0 |
| Jeffrey C Campbell | Sr. VP and CFO | Dec. 12, 2003 M | 80,023 | 0 | 0 | $0 |
| Scott J Kirby | President | April 22, 2016 F | 702,343 | 0 | 0 | $0 |
| David Seymour | EVP Chief Operating Officer | July 12, 2026 F | 964,232 | 0 | 2 | $-2,195,039 |
| Angela Owens | SVP Corporate Controller | July 31, 2026 S | 178,799 | 0 | 2 | $-1,212,412 |
| Stephen L Johnson | Vice Chair | July 31, 2026 S | 1,938,357 | 0 | 5 | $-2,261,700 |
| Andrew P Nocella | SVP Chief Marketing Officer | Feb. 16, 2017 M | 123,044 | 0 | 0 | $0 |
| Gary F Kennedy | Sr. VP / General Counsel | Dec. 9, 2013 D | 188,192 | 0 | 0 | $0 |
| REAM JAMES B | Senior V.P. Operations | Dec. 9, 2013 F | 184,685 | 0 | 0 | $0 |
| GARTON DANIEL P | Executive Vice President | Dec. 9, 2013 D | 198,217 | 0 | 0 | $0 |
| Robert W Reding | Executive VP Operations | May 18, 2011 A | 805,884 | 0 | 0 | $0 |
| Charles D Marlett | Corporate Secretary | April 21, 2006 S | 91,700 | 0 | 0 | $0 |
| John W Dietrich | Director | July 15, 2026 A | 8,676 | 0 | 0 | $0 |
| Kathryn M Farmer | Director | June 10, 2026 A | 24,739 | 0 | 0 | $0 |
| Vicente Reynal | Director | June 10, 2026 A | 56,655 | 0 | 0 | $0 |
| Howard I Ungerleider | Director | June 10, 2026 A | 36,578 | 0 | 0 | $0 |
| Gregory D Smith | Director | June 10, 2026 A | 124,798 | 0 | 0 | $0 |
| Martin H. Nesbitt | Director | June 10, 2026 A | 90,230 | 0 | 0 | $0 |
| Mary N Dillon | Director | June 10, 2026 A | 14,208 | 0 | 0 | $0 |
| Adriane M Brown | Director | June 10, 2026 A | 66,058 | 0 | 0 | $0 |
| Douglas M Steenland | Director | June 10, 2026 A | 67,383 | 0 | 0 | $0 |
| John T Cahill | Director | June 10, 2026 A | 24,739 | 0 | 0 | $0 |
| Susan D Kronick | Director | June 10, 2026 A | 90,230 | 0 | 0 | $0 |
| Matthew J Hart | Director | June 10, 2026 A | 114,071 | 0 | 0 | $0 |
| Thomas W Horton | Director | Jan. 9, 2014 F | 178,004 | 0 | 0 | $0 |
| Matthew K Rose | Director | Dec. 9, 2013 D | 2,804 | 0 | 0 | $0 |
| Stephen M Bennett | Director | Dec. 9, 2013 D | 1,550 | 0 | 0 | $0 |
| Ann Mclaughlin Korologos | Director | Dec. 9, 2013 D | 4,183 | 0 | 0 | $0 |
| Roger T Staubach | Director | Dec. 9, 2013 D | 4,234 | 0 | 0 | $0 |
| PURCELL PHILIP J | Director | Dec. 9, 2013 D | 4,214 | 0 | 0 | $0 |
| Judith Rodin | Director | Dec. 9, 2013 D | 3,517 | 0 | 0 | $0 |
| John W Bachmann | Director | Dec. 9, 2013 D | 6,662 | 0 | 0 | $0 |
| Armando M Codina | Director | Dec. 9, 2013 D | 5,512 | 0 | 0 | $0 |
| Michael A Miles | Director | July 25, 2011 A | — | 0 | 0 | $0 |
| Rajat K Gupta | Director | Feb. 28, 2011 A | 5,000 | 0 | 0 | $0 |
| David L Boren | Director | July 26, 2010 A | 12,722 | 0 | 0 | $0 |
| Earl G Graves SR | Director | March 31, 2008 A | — | 0 | 0 | $0 |
| Edward A Brennan | Director | March 30, 2007 A | — | 0 | 0 | $0 |
| Joe M Rodgers | Director | March 31, 2006 A | — | 0 | 0 | $0 |
| Robert D Isom Jr | — | Feb. 27, 2026 F | 3,794,279 | 0 | 0 | $0 |
| Vasu Raja | — | Aug. 11, 2022 S | 82,453 | 0 | 0 | $0 |
| Douglas W Parker | — | June 8, 2022 A | 2,772,714 | 0 | 0 | $0 |
| Michael J Embler | — | June 8, 2022 A | 59,358 | 0 | 0 | $0 |
| Jeffrey D. Benjamin | — | June 8, 2022 A | 51,358 | 0 | 0 | $0 |
| Ray M Robinson | — | June 8, 2022 A | 54,500 | 0 | 0 | $0 |
| James F Albaugh | — | June 8, 2022 A | 60,480 | 0 | 0 | $0 |
| Denise M Oleary | — | June 8, 2022 A | 117,412 | 0 | 0 | $0 |
| Maya Leibman | — | Feb. 24, 2022 A | 536,410 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| American Airlines Group Inc., American Airlines, Inc. | Dec. 19, 2025 | 20.80% | Initial filing | — | SEC |
| Hall Phoenix/Inwood, Ltd., Phoenix/Inwood Corporation, Search Financial Services, LP, Hall Search GP, LLC, Craig Hall ×5 filings | April 23, 2008 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Nov. 30, 2007 | — | Initial filing | — | SEC |
| FL Group hf. | Sept. 27, 2007 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 118 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ICOP · iShares Trust | 8.01% | 693,294 SH | Aug. 8, 2026 | Daily |
| PICK · iShares, Inc. | 3.41% | 1,461,359 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 2.62% | 2,218,726 SH | Aug. 8, 2026 | Daily |
| MXI · iShares Trust | 2.00% | 132,805 SH | Aug. 8, 2026 | Daily |
| EWU · iShares Trust | 1.74% | 1,347,448 SH | Aug. 8, 2026 | Daily |
| IYT · iShares Trust | 1.33% | 1,860,914 SH | Aug. 8, 2026 | Daily |
| BSJR · Invesco Exchange-Traded Self-Indexe… | 1.20% | 10,146,000 | Aug. 8, 2026 | Daily |
| RFV · Invesco Exchange-Traded Fund Trust | 0.88% | 187,506 SH | Aug. 8, 2026 | Daily |
| TPOR · Direxion Shares ETF Trust | 0.79% | 12,124 NS | April 30, 2026 | N-PORT |
| AKAF · ETF Series Solutions | 0.76% | 1,525 NS | May 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.69% | 567,890 SH | Aug. 8, 2026 | Daily |
| PAMC · Pacer Funds Trust | 0.65% | 34,885 NS | April 30, 2026 | N-PORT |
| VGHY · VANGUARD FIXED INCOME SECURITIES FU… | 0.63% | 1,904,000 PA | Aug. 8, 2026 | Daily |
| IJJ · iShares Trust | 0.60% | 3,370,195 SH | Aug. 8, 2026 | Daily |
| EFG · iShares Trust | 0.51% | 1,631,368 SH | Aug. 8, 2026 | Daily |
| IEV · iShares Trust | 0.44% | 137,702 SH | Aug. 8, 2026 | Daily |
| ITAN · EA Series Trust | 0.39% | 23,929 NS | May 29, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.39% | 889 NS | May 29, 2026 | N-PORT |
| IEUR · iShares Trust | 0.35% | 600,539 SH | Aug. 8, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.35% | 95,781 SH | Aug. 8, 2026 | Daily |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.34% | 2,638,338 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.33% | 89,386 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.33% | 1,068,909 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.33% | 204,799 SH | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.32% | 85,522 NS | April 30, 2026 | N-PORT |
| IMTM · iShares Trust | 0.30% | 240,969 SH | Aug. 8, 2026 | Daily |
| IWP · iShares Trust | 0.30% | 3,771,139 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.29% | 22,820,097 SH | Aug. 8, 2026 | Daily |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.29% | 64,985 NS | April 30, 2026 | N-PORT |
| GTO · Invesco Actively Managed Exchange-T… | 0.28% | 8,606,520.01 | Aug. 8, 2026 | Daily |
| EFA · iShares Trust | 0.25% | 3,757,402 SH | Aug. 8, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.25% | 9,628,909 SH | Aug. 8, 2026 | Daily |
| VGMS · VANGUARD MALVERN FUNDS | 0.24% | 585,000 PA | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.22% | 75,236 NS | April 30, 2026 | N-PORT |
| IEFA · iShares Trust | 0.22% | 8,018,814 SH | Aug. 8, 2026 | Daily |
| MVV · ProShares Trust | 0.21% | 22,820 NS | May 31, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.20% | 1,198,462 NS | May 31, 2026 | N-PORT |
| IDEV · iShares Trust | 0.20% | 1,176,933 SH | Aug. 8, 2026 | Daily |
| DFVE · DoubleLine ETF Trust | 0.19% | 4,876 NS | March 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.19% | 344,722 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.19% | 99,978 NS | April 30, 2026 | N-PORT |
| TEXN · iShares Trust | 0.18% | 1,884 SH | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.18% | 1,784,117 NS | May 31, 2026 | N-PORT |
| ESGD · iShares Trust | 0.18% | 406,393 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.17% | 130,129 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.16% | 29,374 SH | Aug. 8, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.16% | 10,727,017 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.16% | 801,928 SH | Aug. 8, 2026 | Daily |
| ACWX · iShares Trust | 0.16% | 341,635 SH | Aug. 8, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.15% | 10,935 NS | April 30, 2026 | N-PORT |