American Airlines Group vs Southwest Airlines (AAL vs LUV)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
American Airlines Group is the larger company by revenue ($54.6B vs $28.1B). Southwest Airlines carries the larger market value ($23.4B vs $11.2B). American Airlines Group has grown revenue faster over the last 4 fiscal years (+82.8% cumulative vs +77.7%). American Airlines Group runs the higher operating margin (2.7% vs 1.5%). Southwest Airlines trades at the lower trailing P/E (31.9x vs 54.7x).
About American Airlines Group
American Airlines Group Inc. operates a major network air carrier providing scheduled passenger and cargo air transportation through hubs in multiple U.S. cities and partner gateways worldwide. Its services include mainline flights and regional flights under the American Eagle brand, serving over 350 destinations globally. The company also offers cargo freight and mail services and participates in airline alliances and joint business agreements to expand its network and customer offerings.
About Southwest Airlines
Southwest Airlines Co operates as an airline company providing passenger air transportation services. It offers flights primarily within North America and serves individual travelers and businesses. The company also generates revenue from cargo and freight services.
Head to head (AAL FY2025 vs LUV FY2025)
| Metric | AALFY2025 | LUVFY2025 |
|---|---|---|
| Revenue | $54.63B | $28.06B |
| Revenue growth (YoY) | 0.8% | 2.1% |
| Gross margin | — | — |
| Operating margin | 2.7% | 1.5% |
| Net margin | 0.2% | 1.6% |
| Net income | $111.0M | $441.0M |
| Diluted EPS | $0.17 | $0.79 |
| FCF margin | -1.2% | -3.0% |
| ROE | — | 5.5% |
| Debt / equity | — | 0.6× |
| Market cap | $11.21B | $23.42B |
| P/E (TTM) | 54.7× | 31.9× |
Fundamentals are from each company’s SEC filings (AAL FY2025, LUV FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| AAL | $29.88B | $48.97B | $52.79B | $54.21B | $54.63B |
| LUV | $15.79B | $23.81B | $26.09B | $27.48B | $28.06B |
Peer standing
Where each company ranks among the 684 Industrials companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | AAL | LUV |
|---|---|---|
| Operating margin | 2.7%38th percentile of 606 | 1.5%34th percentile of 606 |
| Net margin | 0.2%32nd percentile of 646 | 1.6%39th percentile of 646 |
| FCF margin | -1.2%24th percentile of 561 | -3.0%21st percentile of 561 |
| Revenue growth (YoY) | +0.8%38th percentile of 669 | +2.1%42nd percentile of 669 |
| P/E (TTM) | 54.7×86th percentile of 435 | 31.9×62nd percentile of 435 |
| Short interest (days to cover) | 1.00d1st percentile of 676 | 3.75d72nd percentile of 676 |
Short interest
| FINRA settlement data | AAL | LUV |
|---|---|---|
| Shares sold short | 57.9M | 31.2M |
| Change vs prior settlement | -10.0% | -2.7% |
| Days to cover | 1.00 | 3.75 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | AAL | LUV |
|---|---|---|
| Buys | 0 | — |
| Sells | 2 ($2.2M) | — |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both American Airlines Group and Southwest Airlines as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.