Positive context积极背景
Stocks股票 / Industrials / AAL
American Airlines Group · Industrials
AAL US listed · USD美股 · 美元
American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas.美国航空集团是一家美国上市航空控股公司，总部位于德克萨斯州沃斯堡。
Mid cap中盘 · $8B
Industrials
S&P 400标普400中盘
Distressed困境股
$12.11
Regular quote常规时段报价
-$0.49 · -3.89%
Extended quote unavailable. Showing the regular quote.盘前盘后报价暂不可用，现显示常规时段报价。
Pre-market盘前
·
52w low52周低 $9.91high高 $18.48
Avoid — downtrend回避 — 下行趋势
Downtrend — stand aside until a new cycle low forms and confirms.下跌趋势——观望，直至新的周期低点形成并确认。
As of 2026-10-26截至 2026-10-26
Company news公司新闻
The latest reporting最新报道
One story, with the reporting behind it.将同一事件汇总，保留各来源报道。
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-10-26
Momentum (RSI 14)动量（RSI 14）
42
Neutral zone中性区域
vs 50-day average相对50日均线
-7.6% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-11.0% below下方
Long trend down长期向下
Volatility波动率
28th percentile第28百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
Estimates being cut预期下调
Beat in 3 of last 4 quarters近 4 季中 3 季超预期
Post-earnings drift: -9.8% (20d)财报后漂移：-9.8%（20日）
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 97.6%
Valuation估值
Roughly fair vs sector相对行业估值合理| Multiple指标 | AAL | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 72.04x | 27.98 | |
| P/S市销率 | 0.15x | 2.09 | |
| Earnings yield盈利收益率 | 1.39% | 3.35 | |
| FCF yield自由现金流收益率 | -8.50% | 4.14 | |
| EV/EBITDA企业价值/EBITDA | 9.60x | 15.88 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
$54.6B2025
20202025
5-yr growth5年复合增速 25.8%
Earnings per share每股收益
$0.172025
20202025
Free cash flow自由现金流
-$680.0M2025
20202025
Operating margin营业利润率
2.7%
Net margin净利率
0.2%
FCF margin自由现金流利润率
5.7%
Balance-sheet quality财务体质 4/8
Bankruptcy risk: distress zone破产风险：警戒区
Return on equity股本回报率 -3%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA7.42
Current ratio流动比率0.50
Capital allocation资本配置
Stock-based comp股权薪酬$57.0M
Share count change (1y)股数变化（1年）+0.4%
Debt coming due到期债务
FY2025 10-KIn the 12-month bucket following fiscal period end 2025-12-31, it reported $3.6B due — about 13% of its disclosed principal.在财年期末 2025-12-31 之后12个月的区间内，已披露到期本金为 $3.6B，约占其披露本金的 13%。
All maturity buckets are measured from fiscal period end 2025-12-31, not from today.所有到期区间均从财年期末 2025-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$3.6B
Year 2第2年
$4.5B
Year 3第3年
$7.3B
Year 4第4年
$4.0B
Year 5第5年
$2.5B
After year 55年以后
$6.6B
A cash-flow scenario is unavailable until the filing inputs are verified.报告数据核实前，现金流情景暂不可用。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0000006201-26-000014, period ending报告期截至 2025-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-10-22T08:00:02.955406+00:00.
6/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Sector / Theme行业/主题
Travel & Experiences theme — #30 of 49 themes「旅行与体验」主题 — 49 个主题中第 30 位
Macro宏观
Long-duration name into a restrictive, rising-real-rate regime → rate headwind.长久期标的进入偏紧、实际利率上行的环境→利率逆风。
Positioning持仓
Short interest changed -14.2%空头仓位变动 -14.2%
Technical技术面
AAL broke down vs the marketAAL 相对市场走弱
Options positioning期权持仓
as of last close截至上一收盘Market makers are net short gamma — price moves may amplify做市商净持有负伽玛，价格波动可能被放大
Expected daily move预期日波动
±2.93%
Expected weekly move预期周波动
±6.55%
Gamma flip伽玛翻转位
$15
25d risk reversal25d风险逆转
-6.8%
Flow:资金流向： $9M premium traded; 0% 0DTE; 13 fresh positions; P/C 2.19; ~leans bearish/hedging (direction approx)成交权利金 $9M；0DTE占0%；13个新建仓；看跌看涨比 2.19；≈偏看跌/对冲（方向近似）
Skew: fear偏斜：避险
Call and put walls are plotted on the Trade levels ladder →看涨/看跌期权墙已标注在「交易点位」阶梯上 →
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$5.7M net (0 buyers, 3 sellers)-$5.7M 净值（0 买家，3 卖家）
Concentrated ownership集中持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Appaloosa (Tepper) | B | New position新建仓 | 1.8% | 2026-06-30 |
Signal history信号历史
engine events引擎事件
UNCONFIRMED TURN → DOWNTREND未确认转向 → 下跌趋势
AVOID. Failed cycle — price broke below the low that started this cycle, which historically means the larger trend is rolling over (~80% of cases). Last cycle was left-translated (topped early) — a bearish structural tell回避。失败周期——价格跌破了启动本周期的低点，历史上这通常意味着更大的趋势正在掉头向下（约 80% 的情形）。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Oct 23, 2026
AAL broke down vs the marketAAL 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $12.11.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$12.11。
Oct 22, 2026
AAL daily MACD crossed upAAL 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $12.60.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$12.60。
Oct 16, 2026
AAL StochRSI turned up from oversoldAAL StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $11.88.StochRSI重回20上方 — 下行动量趋缓的最早预警。$11.88。
Oct 14, 2026
AAL RSI reached oversoldAAL RSI进入超卖
RSI(14) crossed below 30 — washed out; context, not a timing trigger alone. $11.79.RSI(14)下穿30 — 超卖；仅作背景，单独不构成择时。$11.79。
Oct 12, 2026
Death cross on AALAAL 死叉
The 50-day average crossed below the 200-day — a slow, widely-watched bearish trend signal. $12.62.50日均线下穿200日均线 — 一个滞后但广受关注的看空趋势信号。$12.62。
Oct 12, 2026
UNCONFIRMED TURN → DOWNTREND未确认转向 → 下跌趋势
AVOID回避
Oct 8, 2026
AAL daily MACD crossed downAAL 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $12.80.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$12.80。
Oct 7, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Showing the last 15 of显示最近15条，共 254 signals条信号
Company profile公司档案
American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas.美国航空集团是一家美国上市航空控股公司，总部位于德克萨斯州沃斯堡。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Above market高于市场
Quality质量
Below market低于市场
Investment资本投入
Above market高于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Below market低于市场
Earnings quality盈利质量
Below market低于市场
Short interest空头兴趣
Below market低于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 72.0× | 28.0× | 7% |
| Price / Sales市销率 | 0.1× | 2.1× | 99% |
| EV / EBITDAEV/EBITDA | 9.6× | 15.9× | 82% |
| Earnings yield盈利收益率 | 1.4% | 3.4% | 15% |
| Free-cash-flow yield自由现金流收益率 | 38.8% | 5.8% | 99% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
60/100 — middle of the pack居中
vs market, 3 months相对大盘（3个月）
17/100 — weaker than most弱于多数
vs market, 6 months相对大盘（6个月）
54/100 — middle of the pack居中
vs market, 12 months相对大盘（12个月）
45/100 — middle of the pack居中
Rank in sector行业内排名
#141 / 263
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | +1.9% | -0.4% |
| 1 Month近1月 | -9.3% | -1.0% |
| 3 Months近3月 | -16.4% | +3.1% |
| 6 Months近6月 | +0.1% | +7.0% |
| Year to date年初至今 | -21.8% | +12.1% |
| 1 Year近1年 | -5.2% | +14.4% |
| 3 Years近3年 | +8.0% | +86.0% |
Trading information交易信息
Beta vs market贝塔
1.90
Volatility rank波动率分位
28th pctile
Short interest空头占比
11.9% of float
Market cap市值
$8B
EPS (trailing)每股收益
$0.17
Off 52-week high距52周高点
-33.3%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $17.3B | $29.9B | $49.0B | $52.8B | $54.2B | $54.6B |
| EPS每股收益 | $-18.36 | $-3.09 | $0.19 | $1.21 | $1.24 | $0.17 |
| Free cash flow自由现金流 | $-8.5B | $496M | $-373M | $1.2B | $1.3B | $-680M |
| Gross margin毛利率 | — | — | — | — | — | — |
| Net margin净利率 | -51.2% | -6.7% | 0.3% | 1.6% | 1.6% | 0.2% |
| FCF margin自由现金流利润率 | -49.0% | 1.7% | -0.8% | 2.3% | 2.4% | -1.2% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$54.6B
Net income净利润
$111M
Operating cash flow经营现金流
$3.1B
Total assets总资产
$61.8B
Shareholder equity股东权益
$-3.7B
Shares outstanding总股本
0.66B
Returns & growth回报与增长
Return on equity股本回报率
-3.0%
Return on assets资产回报率
0.2%
Profit growth利润增速
-86.9%
Asset growth资产增速
-0.0%
Accounting quality checks会计质量检查
- Earnings quality: accruals near the peer median盈利质量：应计利润接近同业中位
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Capital discipline: share count +6.2% over 6 years (dilution)资本纪律：股本 6 年增加 6.2%（稀释）
- Balance sheet: Altman Z 0.64 — distress zone资产负债表：Altman Z 0.64——困境区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
42
RSI (2-day)RSI（2日）
34
vs 20-day average相对20日均线
-4.1%
vs 50-day average相对50日均线
-7.6%
vs 200-day average相对200日均线
-11.0%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
above signal位于信号线上方
Timeframe alignment多周期共振
Daily日线
momentum up — fresh upturn动能向上——刚刚转强
3-day3日线
momentum down动能向下
Weekly周线
momentum down动能向下
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
31/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $0.15 | $0.03 | +400.0% |
| Mar 2026 | $-0.40 | $-0.45 | +11.1% |
| Dec 2025 | $0.16 | $0.38 | -57.9% |
| Sep 2025 | $-0.17 | $-0.27 | +37.0% |
Estimate revisions预期修正
Analysts covering覆盖分析师
15
Estimate direction预期调整方向
mostly cutting多数下调
Estimate change, 90 days预期变化（90天）
-45.3%
Net upgrades, 30 days净上调（30天）
-15
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Options — full detail期权持仓 — 完整明细
Dealer positioning map做市商持仓地图
Call wall看涨期权墙
$14
Put wall看跌期权墙
$12
Gamma flip伽玛翻转位
$15
Upside magnet上方磁吸位
$13
Downside magnet下方磁吸位
$12
Net dealer gamma做市商净伽玛
-$0.0B
Distance to flip距翻转位
-22.1%
Walls and magnets are strikes with heavy open interest — price often slows or gravitates there.期权墙与磁吸位是未平仓集中的行权价 — 价格常在附近减速或被吸引。
Volatility pricing波动率定价
Implied volatility (30d)隐含波动率（30天）
0%
25-delta risk reversal25-delta风险逆转
-6.8%
Call-put IV spread看涨-看跌IV价差
-0.0pp
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Appaloosa (Tepper) | B | New position新建仓 | 1.8% | $136M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
1
Buying vs selling买入vs卖出
1 : 0
Quarterly trend季度趋势
{'direction': 'distributing', 'n_quarters': 11, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2023-09-30', 'to_period': '2026-03-31', 'available_on': '', 'available_on_first': '2023-11-15', 'holders_series': [1, 0, 0, 1, 1, 2, 1, 0, 1, 2, 0]}{'direction': 'distributing', 'n_quarters': 11, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2023-09-30', 'to_period': '2026-03-31', 'available_on': '', 'available_on_first': '2023-11-15', 'holders_series': [1, 0, 0, 1, 1, 2, 1, 0, 1, 2, 0]}
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$5.7M
Insider buyers vs sellers内部人买家vs卖家
0 : 3
Short interest空头占流通盘
11.9%
Days to cover回补天数
1.1
Short interest change空头变化
-14.2%
Recent fund flows近期基金流向
SPDR S&P TransportationSPDR S&P Transportation
accumulating持续增持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Seasonality — full detail季节性 — 完整明细
Strongest month最强月份
Nov · 100%
Weakest month最弱月份
Mar · 0%
Month by month逐月统计
| Month月份 | Closed higher收涨占比 | Median move中位涨跌 | Years年数 |
|---|---|---|---|
| Jan1月 | 33% | -2.2% | 3 |
| Feb2月 | 33% | -0.5% | 3 |
| Mar3月 | 0% | -18.6% | 3 |
| Apr4月 | 33% | -1.2% | 3 |
| May5月 | 67% | +14.5% | 3 |
| Jun6月 | 33% | -0.9% | 3 |
| Jul7月 | 33% | -5.7% | 3 |
| Aug8月 | 67% | +0.6% | 3 |
| Sep9月 | 25% | -0.0% | 4 |
| Oct10月 | 50% | +16.6% | 4 |
| Nov11月 | 100% | +8.5% | 3 |
| Dec12月 | 100% | +10.5% | 3 |
History is a tendency, not a promise — small samples wobble.历史规律只是倾向而非保证 — 样本少时波动大。
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。