American Airlines Group (HAM:A1G) Cyclically Adjusted PS Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:A1G American Airlines Group Inc HAM:A1G
82 GF Score
Price €11.29
GF Value €13.15
! 4 Warning Signs
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What is American Airlines Group Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


American Airlines Group  (HAM:A1G) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


American Airlines Group Cyclically Adjusted PS Ratio Related Terms


American Airlines Group Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for American Airlines Group's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

American Airlines Group Cyclically Adjusted PS Ratio Chart

American Airlines Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.21 0.15 0.17 0.21 0.16

American Airlines Group Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.12 0.12 0.16 0.11 0.20

HAM:A1G vs CPA, ALK, SKYW: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, American Airlines Group's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


American Airlines Group Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, American Airlines Group's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where American Airlines Group's Cyclically Adjusted PS Ratio falls into.


HAM:A1G
82GF Score
American Airlines Group Inc HAM:A1G
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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American Airlines Group Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

American Airlines Group's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, American Airlines Group's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=21.722/333.9520*333.9520
=21.722

Current CPI (Jun. 2026) = 333.9520.

American Airlines Group Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 17.961 241.428 24.844
201612 17.513 241.432 24.224
201703 18.144 243.801 24.853
201706 20.696 244.955 28.215
201709 19.198 246.819 25.975
201712 18.887 246.524 25.585
201803 17.832 249.554 23.863
201806 21.033 251.989 27.874
201809 21.534 252.439 28.487
201812 20.752 251.233 27.585
201903 20.557 254.202 27.006
201906 23.888 256.143 31.144
201909 24.215 256.759 31.495
201912 23.455 256.974 30.481
202003 18.156 258.115 23.490
202006 3.435 257.797 4.450
202009 5.336 260.280 6.846
202012 5.907 260.474 7.573
202103 5.243 264.877 6.610
202106 9.458 271.696 11.625
202109 10.550 274.310 12.844
202112 12.713 278.802 15.228
202203 12.213 287.504 14.186
202206 17.528 296.311 19.755
202209 18.666 296.808 21.002
202212 18.068 296.797 20.330
202303 17.299 301.836 19.140
202306 17.952 305.109 19.649
202309 18.946 307.789 20.556
202312 18.489 306.746 20.129
202403 17.659 312.332 18.881
202406 18.484 314.175 19.648
202409 18.896 315.301 20.014
202412 17.695 315.605 18.724
202503 18.099 319.799 18.900
202506 19.228 322.561 19.907
202509 17.741 324.800 18.241
202512 18.172 324.054 18.727
202603 17.985 330.213 18.189
202606 21.722 333.952 21.722

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is American Airlines Group (HAM:A1G) Overvalued in 2026?

Based on GuruFocus' analysis, American Airlines Group stock appears to be undervalued. The current stock price of €11.29 is trading 14.1% below its estimated GF Value™ of €13.15.

Key valuation signals for HAM:A1G:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €13.15 vs. price of €11.29 (14.1% below fair value)
  • GF Score™: 82/100 with 4 warning signs

No single metric tells the full story. See the HAM:A1G stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


American Airlines Group Business Description

Address 1 Skyview Drive, Fort Worth, TX, USA, 76155
American Airlines is the world's largest airline by aircraft, capacity, and scheduled revenue passenger miles. Its major US hubs are Dallas/Fort Worth, Charlotte, Chicago, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C. It generates over 30% of US airline revenue connecting Latin America with destinations in the United States. After completing a major fleet renewal, the company has the youngest average fleet of US legacy carriers.
82GF Score

Get the complete analysis for HAM:A1G

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€11.29
Price
€13.15
GF Value