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Mexico's flag carrier airline, operating domestic and international passenger and cargo flights.
Mexico's flag carrier airline, operating domestic and international passenger and cargo flights.
Earns from selling seats, with the Mexico City hub carrying most of the network and feeding connections to the US and Latin America, plus a cargo arm that sells space on its flights. Fuel and dollar-denominated costs matter because domestic ticket prices are largely in pesos. It restructured in US bankruptcy court in 2020-22.
Moat: narrow (brand, installed base, regulatory licence). Leading position at Mexico City's slot-constrained airport and SkyTeam/Delta partnership.
Headquarters: Mexico City, Mexico · Founded: 1934 · Employees: 17,362
Size Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR (AERO) is a United States Industrials company (Airlines) with a market value of $2.32B, the 1706th largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.44 on 6 Nov 2026.
Performance Over six months the shares gained 0.8%, against +9.3% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 9.6% over the last twelve months (peer median +9.6%); the operating margin is 11.2% (peer median 4.7%).
Valuation It trades at 10.4× forward earnings against a peer median of 19.4× (6th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -39 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.6 points above its cost of capital (8.2% WACC).
Short interest Short interest is 1.0% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.86B | $5.38B | $5.60B | $4.96B | $3.83B |
| Revenue growth | — | -4% | +13% | +30% | — |
| Gross profit | $1.12B | $1.33B | $1.63B | $1.24B | $429M |
| EBITDA | $1.43B | $1.58B | $1.71B | $1.32B | $503M |
| Net income | $159M | $353M | $615M | $276M | -$64.5M |
| Free cash flow | $506M | $590M | $948M | $1.02B | -$410M |
| Capital expenditure | $379M | $377M | $450M | $370M | $214M |
| Total debt | $4.06B | $4.06B | $3.70B | $3.23B | $3.45B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR AERO | $2.32B | +1% | +10% | 11% | 10.4× | -6.6% |
| Controladora Vuela Compania de Aviacion SAB de CV Sponsored ADR VLRS | $850M | +3% | +19% | -5% | n/a | -13.7% |
| Delta Air Lines DAL | $57.4B | +19% | +14% | 7% | 13.4× | 9.9% |
| American Airlines AAL | $8.73B | -1% | +12% | 2% | n/a | n/a |
| United Airlines UAL | $36.6B | +13% | +12% | 6% | 13.6× | 7.8% |
| Copa CPA | $5.87B | +16% | +15% | 19% | 9.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AERO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.2% | +5.6% | 10th lowest of 21 |
| 6-month return | +0.8% | +9.3% | 10th lowest of 21 |
| Distance from 52-week high | -28.7% | -25.1% | 8th lowest of 21 |
| Revenue growth (TTM) | +9.6% | +9.6% | 11th highest of 21 |
| Operating margin | 11.2% | 4.7% | 4th highest of 21 |
| Forward P/E | 10.4× | 19.4× | 6th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -6.6% | 1.8% | 4th least demanding of 12 |
| Growth delivered (Del g) | +32.3% | +24.4% | 3rd highest of 12 |
| Hurdle (Req g minus delivered) | -38.9 pp | -18.3 pp | 4th least demanding of 12 |
| ROIC minus cost of capital | +12.6 pp | -1.2 pp | 2nd highest of 21 |
| EV / EBITDA | 3.8× | 4.8× | 5th cheapest of 13 |
| Net debt / EBITDA | 2.2× | 2.2× | 8th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR AERO | United States | $2.32B | +1% | +10% | 11% | 10.4× | -6.6% | +32.3% |
| Allegiant Travel ALGT | United States | $2.51B | +11% | +12% | 9% | 12.7× | n/a | n/a |
| Milkyway Intelligent Supply Chain Service 603713.SS | China | $1.90B | +29% | +15% | 8% | 16.8× | n/a | n/a |
| SkyWest SKYW | United States | $3.02B | -10% | +7% | 14% | 7.5× | 2.2% | +13.8% |
| Starlux Airlines 2646.TW | Taiwan | $1.76B | -6% | +23% | 1% | 52.3× | n/a | n/a |
| Frontier ULCC | United States | $1.71B | +40% | +24% | -15% | 1,818.4× | 31.6% | +24.4% |
| Juneyao Airlines 603885.SS | China | $3.42B | -8% | +8% | 1% | 69.5× | 0.4% | +17.4% |
| Virgin Australia VGN.AX | Australia | $1.48B | +18% | +9% | 11% | 6.6× | -13.4% | +4.9% |
| Wizz Air WIZZ.L | United Kingdom | $1.48B | +8% | +11% | -2% | n/a | 3.4% | +49.5% |
| Norwegian Air Shuttle NAS.OL | Norway | $1.47B | -11% | +3% | 6% | 22.0× | -16.5% | +35.8% |
| CITIC Offshore Helicopter 000099.SZ | China | $1.41B | -31% | -9% | 12% | 30.3× | 1.8% | +7.5% |
| JetBlue Airways JBLU | United States | $1.38B | -28% | +10% | -6% | n/a | n/a | n/a |
| China Airlines 2610.TW | Taiwan | $3.94B | +17% | +8% | 8% | 9.9× | n/a | n/a |
| Air Canada AC.TO | Canada | $3.95B | +10% | +13% | 2% | n/a | 14.3% | +30.8% |
| Air France-KLM AF.PA | France | $3.99B | +34% | +5% | 6% | 4.7× | -6.3% | +24.4% |
| China Express Airlines 002928.SZ | China | $1.34B | -12% | +4% | -17% | 155.2× | n/a | n/a |
| Alaska Air ALK | United States | $4.35B | -5% | +8% | -1% | n/a | n/a | n/a |
| Asiana Airlines 020560.KS | South Korea | $1.21B | +13% | -17% | -12% | n/a | n/a | n/a |
| Finnair FIA1S.HE | Finland | $1.14B | +38% | +11% | 4% | 9.4× | -9.6% | +30.2% |
| Exchange Income EIF.TO | Canada | $4.77B | +13% | +33% | 11% | 24.6× | n/a | n/a |
| Republic Airways RJET | United States | $942M | -12% | +438% | 11% | n/a | 2.8% | +25.2% |