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U.S. Airlines Industry Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies20
  • 7D-2.2%
  • 3M10.9%
  • 1Y12.0%
  • YTD2.7%

Over the last 7 days, the Airlines industry has dropped 2.2%, driven by pullbacks in United Airlines Holdings and Delta Air Lines of 3.3% and 2.6%, respectively. On the other hand Wheels Up Experience is actually up 46%. This takes the industry's 12 month performance to a gain of 12%. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the U.S. Airlines Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026US$140.7bUS$208.2bUS$7.1b9.2x19.8x0.7x
Tue, 16 Dec 2025US$136.2bUS$207.9bUS$6.7b10x20.3x0.7x
Thu, 13 Nov 2025US$118.0bUS$206.0bUS$6.6b9.6x17.9x0.6x
Sat, 11 Oct 2025US$123.0bUS$205.3bUS$7.2b9.5x17.1x0.6x
Mon, 08 Sep 2025US$124.4bUS$204.5bUS$7.1b11.1x17.6x0.6x
Wed, 06 Aug 2025US$122.9bUS$210.3bUS$6.7b8.9x18.4x0.6x
Fri, 04 Jul 2025US$108.6bUS$209.6bUS$6.6b12x16.4x0.5x
Sun, 01 Jun 2025US$102.8bUS$204.3bUS$7.7b11.3x13.4x0.5x
Tue, 29 Apr 2025US$86.5bUS$204.6bUS$6.8b8.6x12.7x0.4x
Thu, 27 Mar 2025US$102.7bUS$201.0bUS$6.7b11.7x15.3x0.5x
Sat, 22 Feb 2025US$116.5bUS$200.2bUS$6.8b12.1x17.2x0.6x
Mon, 20 Jan 2025US$127.3bUS$197.5bUS$5.8b12.8x22x0.6x
Wed, 18 Dec 2024US$118.8bUS$196.5bUS$7.0b11.3x17x0.6x
Fri, 15 Nov 2024US$116.6bUS$196.6bUS$7.2b10.8x16.2x0.6x
Sun, 13 Oct 2024US$94.7bUS$182.8bUS$6.6b11.2x14.4x0.5x
Tue, 10 Sep 2024US$81.8bUS$182.6bUS$6.4b12.2x12.8x0.4x
Thu, 08 Aug 2024US$71.0bUS$182.9bUS$6.1b10.4x11.6x0.4x
Sat, 06 Jul 2024US$85.3bUS$180.8bUS$7.1b11.6x12.1x0.5x
Mon, 03 Jun 2024US$88.0bUS$180.8bUS$7.0b12.2x12.5x0.5x
Wed, 01 May 2024US$88.0bUS$194.7bUS$7.4b8.8x11.9x0.5x
Fri, 29 Mar 2024US$89.0bUS$190.7bUS$7.3b11.1x12.2x0.5x
Sun, 25 Feb 2024US$86.3bUS$190.8bUS$7.2b11.2x12x0.5x
Tue, 23 Jan 2024US$78.1bUS$191.6bUS$7.2b9.2x10.8x0.4x
Thu, 21 Dec 2023US$84.4bUS$190.8bUS$6.0b10.5x14x0.4x
Sat, 18 Nov 2023US$71.9bUS$190.7bUS$6.1b9.7x11.9x0.4x
Mon, 16 Oct 2023US$70.3bUS$187.4bUS$6.9b10.3x10.2x0.4x
Wed, 13 Sep 2023US$83.5bUS$186.1bUS$6.5b11.3x12.8x0.4x
Fri, 11 Aug 2023US$92.8bUS$188.0bUS$6.0b11.8x15.5x0.5x
Sun, 09 Jul 2023US$102.6bUS$183.3bUS$4.0b23.8x25.6x0.6x
Tue, 06 Jun 2023US$82.9bUS$171.6bUS$3.2b23.7x26x0.5x
Thu, 04 May 2023US$78.2bUS$171.0bUS$3.0b19.4x25.6x0.5x
Sat, 01 Apr 2023US$79.2bUS$160.9bUS$972.1m19.6x81.5x0.5x
Mon, 27 Feb 2023US$85.0bUS$160.9bUS$1.2b20.2x71.4x0.5x
Wed, 25 Jan 2023US$87.8bUS$157.2bUS$1.5b18.8x59.9x0.6x
Price to Earnings Ratio

59.9x


Total Market Cap: US$87.8bTotal Earnings: US$1.5bTotal Revenue: US$157.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 17x202420252026
Current Industry PE
  • Investors are optimistic on the American Airlines industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 19.8x which is higher than its 3-year average PE of 17.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.51x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 69% per year over the last three years.
  • Revenues for these companies have grown 9.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-0.29%
Industrials2.96%
Airlines-2.16%
Airlines-2.16%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
UP Wheels Up ExperienceUS$0.9845.5%
+US$222.2m		-39.6%PS0.9x
SNCY Sun Country Airlines HoldingsUS$17.7212.3%
+US$115.6m		9.5%PE16.3x
JBLU JetBlue AirwaysUS$5.383.7%
+US$69.1m		-29.6%PS0.2x
JOBY Joby AviationUS$15.430.3%
+US$36.5m		88.9%PS621.3x
CPA Copa HoldingsUS$131.720.6%
+US$33.9m		45.9%PE8.2x

Latest News

DAL
US$70.43
Delta Air Lines
7D
-2.6%
1Y
7.0%
ALGT
US$89.95
Allegiant Travel
7D
-5.3%
1Y
-12.7%
ALK
US$50.04
Alaska Air Group
7D
0.1%
1Y
-24.6%
FLYX
US$3.42
flyExclusive
7D
-46.5%
1Y
16.7%
SNCY
US$17.72
Sun Country Airlines Holdings
7D
12.3%
1Y
9.5%
CPA
US$131.72
Copa Holdings
7D
0.6%
1Y
45.9%

CPA: Higher Capacity And Load Factors Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Copa Holdings slightly higher to about US$157 per share, citing small adjustments to discount rate assumptions, revenue growth expectations, and forward P/E inputs. What's in the News Copa Holdings reported preliminary November 2025 traffic with ASMs of 2,777.6 million and RPMs of 2,394.7 million, and a load factor of 86.2% (company announcement of operating results).
AERO
US$20.24
Grupo Aeroméxico. de
7D
-1.7%
1Y
n/a

Aeroméxico: This Airline Stock Can Fly Higher

Jan 12
AAL
US$15.37
American Airlines Group
7D
-3.9%
1Y
-15.9%
LUV
US$43.12
Southwest Airlines
7D
-3.1%
1Y
34.3%
UAL
US$113.49
United Airlines Holdings
7D
-3.3%
1Y
5.7%

UAL: Margin Execution And Operational Resets Will Shape Future Upside Potential

Analysts have nudged their fair value estimate for United Airlines Holdings up slightly from about US$124.36 to roughly US$125.26. They cite a modestly higher long term revenue outlook, a small adjustment to discount rates, and updated assumptions for profit margins and future P/E multiples following recent price target increases across several research firms.
JBLU
US$5.38
JetBlue Airways
7D
3.7%
1Y
-29.6%

JBLU: Technology-Driven Merchandising And Network Expansion Will Support Future Margin Recovery

Analysts have reduced their price target on JetBlue Airways to 6.34 dollars, reflecting concerns about a significantly weaker forward profit margin, even though revenue growth expectations are only modestly softer and the assumed future earnings multiple is sharply higher. What's in the News Federal Aviation Administration lifted flight restrictions tied to the government shutdown, reversing a 6% air traffic cut as staffing trends improve.
JOBY
US$15.43
Joby Aviation
7D
0.3%
1Y
88.9%
RJET
US$17.87
Republic Airways Holdings
7D
-4.8%
1Y
n/a
UP
US$0.98
Wheels Up Experience
7D
45.5%
1Y
-39.6%