LATAM Airlines Group S.A. ADR (LTM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.49	$0.58	+18.4%	—	$4.1B	—
Q1 26	$1.32	$2.24	+69.7%	—	$4.1B	—
Q4 25	$1.3	$1.69	+30.0%	—	$3.9B	—
Q3 25	$1.29	$1.41	+9.3%	—	$3.8B	—
Q2 25	$0.73	$0.95	+30.1%	—	$3.2B	—
Q1 25	$0.98	$1.47	+50.0%	—	$3.3B	—
Q4 24	$0.55	$1.26	+129.1%	—	$3.2B	—
Q3 24	$0.77	$1.12	+45.5%	—	$3.3B	—
Q3 20	-$1.4K	-$1.7K	-19.8%	—	$405M	—
Q2 20	-$2.1K	-$1.8K	+16.7%	—	$441.7M	—
Q1 20	$0.25	$0.46	+84.0%	—	$2.3B	—
Q4 19	$575.5	$748.9	+30.1%	—	$2.8B	—
Q3 19	$309.2	$284.5	-8.0%	—	$2.6B	—
Q2 19	-$0.15	-$0.1	+33.3%	—	$2.4B	—
Q1 19	$0.1	-$0.1	-200.0%	—	$2.5B	—
Q4 18	$444.8	$490.2	+10.2%	—	$2.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.95	—	—	$14.3B	—
FY24	—	$2.99	—	—	$12.8B	—
FY23	—	$1.93	—	—	$11.6B	—
FY22	—	$5.27	—	—	$9.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9B	$9.6B	$9.9B	$10.1B	$3.9B	$4.9B	$9.4B	$11.6B	$12.8B	$14.3B
YoY change	-7.72%	+6.96%	+2.93%	+1.76%	-61%	+24.5%	+91.7%	+24.3%	+10.2%	+11.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9B	9.6B	9.9B	10.1B	3.9B	4.9B	9.4B	11.6B	12.8B	14.3B
Cost of revenue	7B	7.3B	7.8B	8B	3.6B	5B	8.1B	8.8B	9.6B	10.1B
Gross profit	2B	2.3B	2.1B	2.1B	275.2M	-79.5M	1.3B	2.8B	3.3B	4.2B
Gross margin	22.5%	24.3%	21.4%	21%	7.01%	-1.63%	13.4%	24.3%	25.5%	29.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.6B	1.6B	1.4B	1.3B	793.8M	731.3M	1B	1.3B	1.4B	1.4B
Operating expenses	1.6B	1.6B	1.3B	1.5B	1.2B	1B	1.4B	1.7B	1.7B	1.9B
Operating income	428.3M	757.9M	808.9M	638.9M	-890.6M	-1.1B	-139.4M	1.2B	1.6B	2.3B
Operating margin	4.77%	7.88%	8.17%	6.34%	-22.7%	-22.2%	-1.49%	10%	12.3%	16.4%
Non-operating income, net	187M	56M	92.6M	66.7M	-2.8B	-2.2B	1.4B	159K	156.2M	-143M
Pretax income	273.9M	313.4M	415.7M	141.9M	-5.1B	-4.1B	1.3B	596.5M	993.9M	1.6B
Income tax	163.2M	159M	73.9M	-53.7M	-550.2M	568.9M	8.9M	14.9M	16.5M	155.1M
Net income	110.7M	154.4M	341.8M	195.6M	-4.6B	-4.7B	1.3B	581.5M	977.4M	1.5B
Net margin	1.23%	1.61%	3.45%	1.94%	-116.1%	-95.3%	14.3%	5%	7.62%	10.3%
EBITDA	537.2M	932.9M	982.6M	743.9M	-1.7B	-1.1B	552M	1.2B	1.6B	2.4B
EPS	14.1	28.6	33.5	35	-836.4	-855.1	5.27	1.93	2.99	4.95
Diluted EPS	14.1	28.6	33.5	35	-836.4	-855.1	5.27	1.93	2.99	4.95

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3B	3.2B	3.3B	3B	3.3B	3.2B	3.3B	3.2B	3.8B	3.9B	4.1B	4.1B
Cost of revenue	2.2B	2.4B	2.4B	2.3B	2.5B	2.2B	2.4B	2.4B	2.6B	2.7B	2.8B	3.5B
Gross profit	825.1M	781.7M	873.3M	636.8M	790.6M	1B	948.6M	876.6M	1.2B	1.2B	1.3B	670.9M
Gross margin	27.3%	24.3%	26.7%	21.3%	24.1%	32.7%	28.3%	27%	31%	29.9%	31.3%	16.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	340.7M	358.8M	345.7M	336.8M	359M	389.2M	326.8M	335.1M	381.5M	406M	382.9M	375.2M
Operating expenses	458.6M	485.8M	439.8M	387.8M	689.2M	-340.2M	407.6M	469.9M	498.8M	495.6M	469.9M	455M
Operating income	373.8M	303.9M	440.8M	257.1M	460.4M	380.3M	552.4M	418.9M	691.2M	674.3M	818.3M	226.8M
Operating margin	12.4%	9.46%	13.5%	8.62%	14%	11.9%	16.5%	12.9%	18.2%	17.4%	20.1%	5.5%
Non-operating income, net	-3.1M	-39.8M	-5.7M	57.4M	-21.3M	125.8M	-69.5M	-37.3M	-23.6M	-12.6M	-60.8M	-40.8M
Pretax income	229.4M	106.1M	275.1M	156.2M	311.9M	263.9M	364.2M	253.3M	451M	550.1M	630.5M	61.1M
Income tax	-3.4M	22.4M	15.1M	10.9M	-27.9M	18.4M	7.6M	11.5M	70.1M	65.9M	52.8M	-56.8M
Net income	232.8M	83.7M	260M	145.3M	339.8M	245.5M	356.6M	241.8M	380.9M	484.2M	577.7M	117.9M
Net margin	7.7%	2.6%	7.96%	4.87%	10.3%	7.68%	10.7%	7.46%	10%	12.5%	14.2%	2.86%
EBITDA	358.6M	307.9M	421.9M	295M	506.6M	509.2M	588M	455.9M	638.6M	697.6M	838.8M	248.2M
EPS	0.77	—	0.85	0.48	1.12	0.58	1.18	0.81	1.3	1.69	2.01	0.44
Diluted EPS	0.77	—	0.85	0.48	1.12	0.58	1.18	0.81	1.3	1.68	2.01	0.44

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	—	—	—	8.3B	15.9B	15.9B
Enterprise value	—	—	—	—	—	—	—	—	13.5B	21.8B	21.8B
Shares outstanding	4.9M	5.4M	5.4M	5.4M	5.4M	5.4M	302.6M	302.2M	302.2M	294.7M	294.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	8.53	10.9	10.9
P/S	—	—	—	—	—	—	—	—	0.65	1.12	1.12
P/B	—	—	—	—	—	—	—	—	11.7	11.9	11.9
EV/EBITDA	—	—	—	—	—	—	—	—	8.21	9.16	9.16
EV/Sales	—	—	—	—	—	—	—	—	1.05	1.53	1.53
Earnings yield	—	—	—	—	—	—	—	—	11.7%	9.2%	9.2%
FCF yield	—	—	—	—	—	—	—	—	20.2%	11.7%	11.7%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	22.5%	24.3%	21.4%	21%	7.01%	-1.63%	13.4%	24.3%	25.5%	29.2%	29.2%
Operating margin	4.77%	7.88%	8.17%	6.34%	-22.7%	-22.2%	-1.49%	10%	12.3%	16.4%	16.4%
Net margin	1.23%	1.61%	3.45%	1.94%	-116.1%	-95.3%	14.3%	5%	7.62%	10.3%	10.3%
ROE	2.64%	3.9%	9.93%	6.25%	186.5%	65.8%	4.4K%	132.7%	137.4%	109.4%	109.4%
ROA	0.58%	0.71%	1.7%	0.93%	-29.1%	-35%	10.1%	3.96%	6.41%	8.3%	8.3%
ROIC	1.55%	3.68%	5.45%	5.29%	-13.1%	-46.1%	-2.5%	20.3%	26.5%	29.3%	29.3%
Return on tangible assets	1.05%	1.18%	2.71%	1.42%	-33.6%	-41.3%	12.1%	4.7%	7.38%	9.52%	9.52%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.58	0.6	0.55	0.58	0.42	0.21	0.69	0.74	0.62	0.6	0.6
Quick ratio	0.54	0.57	0.51	0.53	0.38	0.19	0.6	0.63	0.55	0.54	0.54
Debt / equity	2.06	1.99	2.96	3.33	-4.49	-1.49	223.5	16.1	10.1	6.05	6.05
Debt / assets	0.45	0.36	0.51	0.49	0.7	0.79	0.52	0.48	0.47	0.46	0.46
Net debt / EBITDA	12.9	6.63	8.91	12	-5.46	-8.33	9.99	4.34	3.13	2.47	2.47
Interest coverage	1.71	1.55	1.79	1.25	-8.62	-4.46	2.48	1.87	2.21	3.61	3.61
Effective tax rate	59.6%	50.7%	17.8%	0%	0%	0%	0.66%	2.5%	1.66%	9.58%	9.58%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.8K	1.8K	1.8K	1.9K	721.9	898.6	30.9	38.5	42.5	48.4	48.4
EPS (basic)	14.1	28.6	33.5	35	-836.4	-855.1	5.27	1.93	2.99	4.95	4.95
EPS (diluted)	14.1	28.6	33.5	35	-836.4	-855.1	5.27	1.93	2.99	4.95	4.95
Book value per share	854.4	727.9	633	575.7	-449.4	-1.3K	0.1	1.45	2.35	4.54	4.54
FCF per share	40.4	312	242.2	259.4	-164.6	-158.2	-2.43	4.63	5.58	6.3	6.3
Cash per share	336.8	313.1	261.7	271.3	320.5	207	4.46	6.14	6.65	7.48	7.48
Capex per share	126.2	64.8	80.4	225.6	45.8	87.1	2.37	2.32	3.95	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	6.88%	3.67%	4.42%	12.2%	6.34%	9.69%	7.67%	6.02%	9.3%	—	—
Payout ratio	37.2%	43.2%	21.2%	28.2%	-0.01%	0%	0%	0%	17.9%	41.3%	41.3%
Dividend yield	—	—	—	—	—	—	—	—	2.1%	3.8%	3.8%

Yield

—

trailing twelve months

Frequency

Annual

Last dividend

$0.132

ex-dividend May 8, 2026

Payout ratio

41%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
May 8, 2026	$0.132
Apr 14, 2025	$1.01

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3B	$3.2B	$3.3B	$3B	$3.3B	$3.2B	$3.3B	$3.2B	$3.8B	$3.9B	$4.1B	$4.1B
YoY change	+18.2%	+18.4%	+17.9%	+13.3%	+8.69%	-0.53%	+2.49%	+8.7%	+15.6%	+21.3%	+21.9%	+27.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.6B	1.7B	1.4B	1.5B	1.7B	1.1B	1.4B	1.9B	2B	2.2B
Receivables	1.1B	1.2B	1.2B	1.2B	599.4M	881.8M	1B	1.4B	1.2B	1.4B
Inventory	241.4M	236.7M	279.3M	354.2M	323.6M	287.3M	477.8M	592.9M	438.5M	458.6M
Total current assets	3.6B	3.8B	3.3B	4B	3.1B	2.6B	3.5B	4.2B	3.9B	4.4B
Property, plant & equipment	-2.1B	-2.3B	-5.1B	-6B	-7.2B	-6.3B	-6.6B	-6.3B	-6.5B	-6.9B
Goodwill & intangibles	8.6B	8.6B	7.5B	7.3B	2.1B	2B	2.2B	2.3B	2B	2.3B
Total assets	19.2B	21.7B	20.1B	21.1B	15.7B	13.3B	13.2B	14.7B	15.3B	17.6B
Accounts payable	921.7M	1.7B	850.8M	1.2B	941.5M	900.3M	646.1M	817.5M	1.5B	1.8B
Short-term debt	1.8B	1.3B	1.8B	1.9B	3.2B	4.6B	886.6M	695.4M	635.2M	745.3M
Total current liabilities	6.2B	6.2B	5.9B	7B	7.5B	12.3B	5.1B	5.7B	6.3B	7.3B
Long-term debt	6.8B	6.6B	8.4B	8.5B	7.8B	5.9B	6B	6.3B	6.5B	7.3B
Total liabilities	15B	17.7B	16.6B	18B	18.1B	20.4B	13.2B	14.2B	14.5B	16.3B
Shareholders' equity	4.2B	4B	3.4B	3.1B	-2.4B	-7.1B	30.7M	438.3M	711.3M	1.3B
Total debt	8.6B	7.9B	10.2B	10.4B	11B	10.5B	6.9B	7B	7.2B	8.1B
Net debt	7.7B	6.7B	9.1B	9.4B	9.3B	9.5B	5.6B	5.3B	5.2B	5.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.8B	1.9B	2B	1.9B	2.1B	2B	2.2B	2.1B	2.1B	2.2B	2.6B	2.7B
Receivables	1.4B	1.4B	1.4B	1.3B	1.3B	1.2B	1.2B	1.4B	1.5B	1.4B	1.5B	1.6B
Inventory	552M	592.9M	585.3M	555.3M	479.8M	438.5M	460.1M	459.2M	451.4M	458.6M	524M	565M
Total current assets	4.2B	4.2B	4.3B	4.1B	4.2B	3.9B	4.2B	4.3B	4.4B	4.4B	5.1B	5.4B
Property, plant & equipment	-6.2B	-6.3B	-6.2B	-6.4B	-6.3B	-6.5B	-6.6B	-6.6B	-6.7B	-6.9B	-7.1B	-7.1B
Goodwill & intangibles	2.3B	2.3B	2.2B	2.1B	2.2B	2B	2.1B	2.2B	2.3B	2.3B	2.4B	2.4B
Total assets	14.3B	14.7B	14.9B	14.9B	15.2B	15.3B	15.9B	16.6B	17B	17.6B	18.7B	19.6B
Accounts payable	1.2B	817.5M	862.3M	1.2B	2.1B	1.5B	1.6B	2B	1.8B	1.8B	1.9B	1.9B
Short-term debt	599.9M	695.4M	768M	730.4M	792.6M	635.2M	688.9M	746.8M	785.1M	745.3M	856.1M	989.2M
Total current liabilities	5.5B	5.7B	5.7B	5.8B	6.2B	6.3B	6.8B	7.2B	7.4B	7.3B	7.5B	7.9B
Long-term debt	6.1B	6.3B	6.4B	6.5B	6.4B	6.5B	6.4B	6.8B	6.8B	7.3B	7.5B	8B
Total liabilities	13.9B	14.2B	14.3B	14.4B	14.5B	14.5B	14.9B	15.7B	15.9B	16.3B	16.8B	17.7B
Shareholders' equity	429.8M	438.3M	588.1M	528.1M	714.8M	711.3M	939.2M	904.2M	1.1B	1.3B	1.9B	2B
Total debt	6.7B	7B	7.2B	7.2B	7.2B	7.2B	7.1B	7.5B	7.6B	8.1B	8.4B	9B
Net debt	5B	5.3B	5.3B	5.4B	5.2B	5.2B	4.9B	5.4B	5.6B	5.9B	5.9B	6.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	—	—	—
Capital expenditure	-618.3M	-352.4M	-437M	-1.2B	-248.7M	-473.2M	-717.9M	-701M	-1.2B	—
Investing cash flow	-354.4M	-212.8M	-272.3M	-1.3B	72.2M	-473M	-717.8M	-690M	-1.2B	—
Dividends paid	-41.2M	-66.6M	-72.6M	-55.1M	-571K	0	0	0	-174.8M	-605.2M
Share repurchases	0	—	—	—	—	—	—	—	—	-584.8M
Financing cash flow	2M	-1.1B	-1.1B	-792.6M	1.3B	214.3M	1.4B	-556M	-847.2M	-1.4B
Net change in cash	-352.4M	-1.3B	-1.3B	-2.1B	1.4B	-258.8M	658.9M	-1.2B	-2B	-1.4B
Free cash flow	197.9M	1.7B	1.3B	1.4B	-894.4M	-859.9M	-733.9M	1.4B	1.7B	1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Capital expenditure	-161.7M	-165.5M	-318.3M	-82.5M	-328.1M	-312.5M	-491.1M	-329.1M	—	—	—	—
Investing cash flow	-150.7M	-158.4M	-345.5M	-54.9M	-328.2M	-312.5M	-491.1M	-329.1M	—	26.3M	—	—
Dividends paid	0	0	0	-289K	-174.5M	0	0	-304K	-293.1M	0	-89.3M	-38M
Share repurchases	—	—	—	—	—	—	—	—	—	-432.8M	—	—
Financing cash flow	-118.2M	-188.7M	-107M	-137M	-328.6M	-155.6M	-2B	-109M	-65.5M	-621.1M	-158M	-134.5M
Net change in cash	-268.9M	-347.1M	-452.5M	-191.9M	-656.8M	-468.1M	-2.5B	-438.1M	-65.5M	-594.8M	-158M	-134.5M
Free cash flow	353.2M	387.9M	328.2M	342.3M	549.7M	383.1M	411.3M	283M	276M	615.9M	588.1M	218.9M

LATAM Airlines Group S.A. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement