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Largest airline group in Latin America, flying passengers and cargo across Chile, Brazil, Peru, Colombia and international routes.
Largest airline group in Latin America, flying passengers and cargo across Chile, Brazil, Peru, Colombia and international routes.
Passenger tickets carry the group, helped by cargo flown in the holds and in freighters, and by LATAM Pass, which earns money by selling miles to card issuers and other partners. Delta Air Lines is a shareholder and runs a joint venture with it on routes between the US and Latin America.
In one line: Latin America's Delta Air Lines.
Moat: narrow (network effects, scale, brand). Largest regional network and hub position in Latin America give scale and slot advantages.
Headquarters: Santiago, Chile · Founded: 1929 · Employees: 41,125
Size LATAM Airlines Group SA Sponsored ADR (LTM) is a United States Industrials company (Airlines) with a market value of $13.8B, the 640th largest of 3,117 United States companies the cockpit tracks. Shares closed at $47.67 on 6 Nov 2026.
Performance Over six months the shares fell 6.8%, against +8.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 21.1% over the last twelve months (peer median +10.2%); the operating margin is 13.8% (peer median 6.7%).
Valuation It trades at 7.0× forward earnings against a peer median of 15.3× (cheapest of 16).
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 +29%, so the hurdle is -36 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.5 points above its cost of capital (7.7% WACC).
Short interest Short interest is 1.2% of the free float (15 Oct 2026).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $16.5B | $14.2B | $12.7B | $11.6B | $9.41B |
| Revenue growth | — | +12% | +9% | +24% | — |
| Gross profit | $4.04B | $4.06B | $3.17B | $2.77B | $1.21B |
| EBITDA | $4.25B | $4.07B | $3.00B | $2.37B | $1.04B |
| Net income | $1.62B | $1.46B | $968M | $582M | $1.35B |
| Free cash flow | $1.67B | $1.49B | $1.16B | $972M | -$1.19B |
| Capital expenditure | $1.77B | $1.88B | $1.41B | $864M | $834M |
| Total debt | $9.26B | $8.09B | $7.18B | $6.97B | $6.76B |
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 |
|---|---|---|---|---|---|---|
| LATAM Airlines Group SA Sponsored ADR LTM | $13.8B | -7% | +21% | 14% | 7.0× | -7.2% |
| Azul S.A. Sponsored ADR AZUL | $915M | +86% | +12% | 14% | 13.3× | n/a |
| Copa CPA | $5.87B | +16% | +15% | 19% | 9.0× | n/a |
| American Airlines AAL | $8.73B | -1% | +12% | 2% | n/a | n/a |
| United Airlines UAL | $36.6B | +13% | +12% | 6% | 13.6× | 7.8% |
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 | LTM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.5% | +5.8% | lowest of 21 |
| 6-month return | -6.8% | +8.5% | 5th lowest of 21 |
| Distance from 52-week high | -32.3% | -16.4% | 6th lowest of 21 |
| Revenue growth (TTM) | +21.1% | +10.2% | highest of 21 |
| Operating margin | 13.8% | 6.7% | 3rd highest of 21 |
| Forward P/E | 7.0× | 15.3× | cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -7.2% | 0.4% | 6th least demanding of 13 |
| Growth delivered (Del g) | +29.3% | +27.9% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -36.5 pp | -34.4 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +13.5 pp | +1.5 pp | 3rd highest of 21 |
| EV / EBITDA | 4.7× | 6.0× | 7th cheapest of 17 |
| Net debt / EBITDA | 1.5× | 1.8× | 9th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LATAM Airlines Group SA Sponsored ADR LTM | United States | $13.8B | -7% | +21% | 14% | 7.0× | -7.2% | +29.3% |
| Air China 601111.SS | China | $15.3B | -7% | +9% | -7% | n/a | 10.0% | +19.8% |
| China Southern Airlines 1055.HK | Hong Kong | $12.3B | -32% | +12% | 0% | n/a | n/a | n/a |
| Cathay Pacific Airways 0293.HK | Hong Kong | $11.7B | +19% | +20% | 11% | 8.1× | -12.4% | +20.0% |
| Deutsche Lufthansa LHA.DE | Germany | $11.4B | +7% | +8% | -1% | 9.7× | n/a | n/a |
| Singapore Airlines C6L.SI | Singapore | $17.2B | +11% | +5% | 12% | 30.1× | -11.0% | +40.0% |
| China Eastern Airlines 0670.HK | Hong Kong | $10.8B | -40% | +13% | -4% | n/a | 18.6% | +18.1% |
| Qantas Airways QAN.AX | Australia | $9.79B | +9% | +8% | 7% | 10.9× | n/a | n/a |
| Ana 9202.T | Japan | $9.77B | +24% | +17% | 8% | 13.1× | -10.0% | +28.4% |
| Japan Airlines 9201.T | Japan | $9.08B | +34% | +10% | 8% | 15.3× | -9.7% | +33.1% |
| Southwest Airlines LUV | United States | $21.8B | +8% | +14% | 5% | 13.7× | n/a | n/a |
| American Airlines AAL | United States | $8.73B | -1% | +12% | 2% | n/a | n/a | n/a |
| InterGlobe Aviation INDIGO.NS | India | $22.4B | +22% | +13% | 8% | 105.8× | 25.5% | +42.2% |
| KAL 003490.KS | South Korea | $7.99B | +20% | +21% | 2% | 21.1× | n/a | n/a |
| Hainan Airlines 600221.SS | China | $7.85B | -20% | +6% | -3% | 24.2× | 5.0% | +18.4% |
| International Consolidated Airlines IAG.L | United Kingdom | $25.3B | +9% | +4% | 14% | 8.3× | -3.9% | +32.4% |
| Air China Cargo 001391.SZ | China | $7.12B | -21% | +10% | 9% | n/a | n/a | n/a |
| Eva Airways 2618.TW | Taiwan | $7.12B | +28% | +6% | 14% | 10.1× | -17.0% | +19.9% |
| easyJet EZJ.L | United Kingdom | $6.96B | +90% | +10% | 5% | 68.9× | 4.8% | +27.4% |
| Spring Airlines 601021.SS | China | $6.51B | -6% | +16% | 6% | 26.0× | n/a | n/a |
| Ryanair Holdings PLC Sponsored ADR RYAAY | United States | $29.5B | +2% | +9% | 13% | 17.0× | 6.4% | +56.7% |