LATAM Airlines Group S.A.

LTM Industrials Airlines

LATAM Airlines Group S.A.’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, up 11.2% from fiscal 2024. In the quarter to June 2026, revenue grew 27.2%, EPS fell 45.7% and free cash flow fell 20.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.

47.47 1.03 −2.12%
Market cap
$13.9B
P/E
8.7×
Fwd P/E
8.8×
Dividend yield
2.95%
F-score
8/9
Altman Z
1.81
Beneish M
−2.99
Dividend safety
65/100

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 13,920.00
Revenue 15,877.73
Net Income 0.00
Free Cash Flow 2,179.80
Net Debt (2,650.86)
Current Ratio 0.67 (below 1: weak)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 8.73
Fwd P/E 8.79
P/S ratio 0.86
P/B ratio 6.86 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth (5.37%) (below 0%: weak)
Next Y EPS Growth 28.51% (at or above 15%: strong)
Next Y revenue growth 22.21% (at or above 10%: strong)
Next 5Y EPS Growth (1.16%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

Dividends

Payout Ratio 0.26
Annual Dividend Rate 1.40
Annual Dividend Yield 2.95%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 Powerpack
2025 0.00
1.01
1.40
2024 Powerpack
2019 177.00
177.00
2018 150.80
150.80
2017 68.60
68.60
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,715 1,958 2,150 2,651
Receivables 1,386 1,164 1,382 1,638
Inventory 593 439 459 565
Other 463 300 317 372
4,203 3,900 4,383 5,354
2023 2024 2025 Q'26
Payables 1,773 2,146 2,693 2,760
ST’ Debt — — — —
Other 3,913 4,138 4,570 5,156
5,688 6,291 7,294 7,938

Compound Annual Growth %

10y 5y 3y
Sales 3.89% 29.45% 15.07%
Cash Flow 8.10% 0.00% 237.98%
Earnings 0.00% 0.00% 2.92%
Book Value (7.57%) 0.00% 251.77%

Revenue $m

Mar Jun Sep Dec Year
’26 4,081 4,123 — — —
’25 3,348 3,243 3,799 3,875 14,265
’24 3,267 2,983 3,245 3,337 12,833
’23 2,772 2,633 3,025 3,212 11,641
’22 1,917 2,176 2,558 2,712 9,363
’21 842 826 1,276 1,940 4,884
’20 2,266 442 405 811 3,924
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 933 610 — — —
’25 678 863 988 1,208 3,737
’24 458 897 760 991 3,106
’23 442 528 588 705 2,264
’22 (4) 235 226 (360) 97
’21 (199) (168) 8 186 (174)
’20 181 (8) (501) (167) (495)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 588 219 — — —
’25 310 276 616 757 1,959
’24 362 567 423 431 1,784
’23 373 357 388 328 1,446
’22 (101) 112 (31) (657) (677)
’21 (234) (242) (262) (16) (755)
’20 98 (108) (554) (254) (819)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.01 0.44 — — —
’25 1.18 0.81 1.30 1.69 4.95
’24 0.86 0.48 1.00 0.90 3.23
’23 0.40 0.00 0.00 0.00 1.92
’22 (1.26k) (1.72k) (980.00) 3.99k 27.14
’21 (1.42k) (2.54k) (2.28k) (9.08k) (15.32k)
’20 (7.00k) (2.94k) (1.90k) (3.20k) (15.00k)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — — — 21.83 26.18

Analyst estimates 2026–2028

Powerpack
High — — — — — — — — 29.13 55.21
People
People Employees 45,916 43,095 41,170 41,729 28,400 29,114 32,507 35,568 38,664 41,125
Revenue/emp, $m 0.20 0.22 0.24 0.24 0.14 0.17 0.29 0.33 0.33 0.35
Income, $m
Income, $m Revenue 8,988 9,614 9,895 10,070 3,924 4,884 9,363 11,641 12,833 14,265
Gross margin, % 22.49 22.59 21.44 21.04 (15.03) (1.63) 13.45 24.26 25.46 29.16
EBT 274 374 416 142 (5,106) (4,084) 1,346 596 994 1,619
EBT margin, % 3.05 3.89 4.20 1.41 (130.13) (83.62) 14.38 5.12 7.75 11.35
Net income — — — — — — — — — —
Depreciation — — — — — — — — — —
Per share, $
Per share, $ Revenue 32,888.18 31,708.14 32,636.73 33,212.60 12,940.85 16,108.23 193.81 38.52 42.46 48.41
Earnings 260.00 520.00 1,127.25 620.00 (15,000.00) (15,320.00) 27.68 1.92 3.23 4.95
Cash flow 3,589.04 5,497.16 6,838.11 9,322.78 (1,631.59) (574.67) 2.00 7.49 10.28 12.68
Capex (2,586.43) (1,450.09) (1,758.44) (4,506.83) (1,069.03) (1,914.98) (16.03) (2.70) (4.38) (6.04)
Free cash flow 1,002.61 4,047.07 5,079.67 4,815.95 (2,700.62) (2,489.65) (14.02) 4.79 5.90 6.65
Book value 15,313.96 14,074.00 11,347.63 10,320.50 (8,055.36) (23,307.73) 0.64 1.45 2.35 4.54
Shares, m 0 0 0 0 0 0 48 302 302 295
Valuation, ×
Valuation, × P/E 18.42 18.42 18.42 18.42 18.42 18.42 18.42 18.42 8.51 10.85
P/S 0.60 0.60 0.60 0.60 0.60 0.60 0.60 0.60 0.65 1.12
P/B 14.14 14.14 14.14 14.14 14.14 14.14 14.14 14.14 11.72 11.90
EV/Sales 1.04 1.04 1.04 1.04 1.04 1.04 1.04 1.04 1.07 1.48
EV/FCF 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.69 10.77
Cash, $m
Cash, $m Operating cash flow 981 1,667 2,073 2,827 (495) (174) 97 2,264 3,106 3,737
Capex (707) (440) (533) (1,366) (324) (581) (774) (817) (1,323) (1,778)
Free cash flow 274 1,227 1,540 1,460 (819) (755) (677) 1,446 1,784 1,959
Balance, $m
Balance, $m Working capital (2,595) (2,097) (2,656) (2,943) (4,348) (9,701) (1,552) (1,485) (2,390) (2,911)
Total debt — — — — — — — — — —
Net debt (949) (1,142) (1,082) (1,073) (1,696) (1,047) (1,217) (1,715) (1,958) (2,150)
Shareholders’ equity 4,185 4,267 3,441 3,129 (2,442) (7,067) 31 438 711 1,337
Returns, %
Returns, % ROA 0.37 0.82 1.59 0.93 (24.75) (32.12) 10.11 4.17 6.53 8.88
ROIC 9.53 14.13 24.92 22.89 0.00 0.00 0.00 0.00 0.00 0.00
ROE 1.94 3.67 8.04 5.80 (1,323.80) 97.75 (38.07) 248.12 169.97 142.54
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

LATAM Airlines Group S.A. vs peers in Airlines (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DAL Delta Air Lines, Inc. $51.4B 15.0× 16.9× +21.07% (above 0%: growing) −47.25% (below 0%: shrinking) −56.40% (below 0%: shrinking) 21.85% 7.20% Compare
UAL United Airlines Holdings Inc $32.9B 9.0× 10.8× +15.99% (above 0%: growing) −17.17% (below 0%: shrinking) −69.34% (below 0%: shrinking) 61.75% 6.20% Compare
RYAAY Ryanair Holdings PLC $27.0B 5.3× — +3.52% (above 0%: growing) −72.60% (below 0%: shrinking) −10.66% (below 0%: shrinking) 49.61% 13.12% Compare
LUV Southwest Airlines Co. $20.0B 23.8× 15.0× +16.40% (above 0%: growing) +20.00% (above 0%: growing) +86.75% (above 0%: growing) 21.20% 3.38% Compare
ZNH China Southern Airlines Company Limited $17.7B — (loss-making) — −21.77% (below 0%: shrinking) n/m +258.94% (above 0%: growing) 10.93% 3.41% Compare
LTM LATAM Airlines Group S.A. $13.9B 8.7× 8.8× +27.15% (above 0%: growing) −45.68% (below 0%: shrinking) −20.71% (below 0%: shrinking) 16.27% 5.29%
AAL American Airlines Group Inc. $8.1B — (loss-making) — (loss-making) +16.28% (above 0%: growing) −87.91% (below 0%: shrinking) −175.65% (below 0%: shrinking) 20.73% 2.67% Compare
CPA Copa Holdings, S.A. $5.5B 8.7× 8.2× +25.72% (above 0%: growing) −53.74% (below 0%: shrinking) +207.63% (above 0%: growing) 50.85% 8.65% Compare
ALK Alaska Air Group, Inc. $4.1B — (loss-making) — (loss-making) +9.75% (above 0%: growing) n/m −14.61% (below 0%: shrinking) 100.00% (4.13%) Compare
Median of peers $18.8B 9.0× 12.9× +16.14% −50.49% −12.64% 35.73% 4.80%

All 19 Airlines stocks →

LATAM Airlines Group S.A. (LTM) key facts

  • Strength: LATAM Airlines Group S.A.’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, up 11.2% from fiscal 2024.
  • LATAM Airlines Group S.A. (LTM) is an Airlines company in the Industrials sector, traded in the US as an ADR.
  • As of October 16, 2026, LTM traded at $47.47, a market capitalization of $13.9 billion.
  • LATAM Airlines Group S.A. pays an annual dividend of $1.40 per share, a yield of 2.95%, with a payout ratio of 25.8%.
  • Return on equity was 142.5% and debt-to-equity 0.00.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 1.81 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

LATAM Airlines Group S.A. (LTM) Latest News

11 Aug

8 Aug

Impact 3 · transcript

20 Apr

stockrow.com/LTM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com