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U.S. Airlines Industry Analysis

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies16
  • 7D9.3%
  • 3M11.6%
  • 1Y44.7%
  • YTD5.9%

Over the last 7 days, the Airlines industry has risen 9.3%, driven by gains in United Airlines Holdings and Delta Air Lines of 12% and 7.0%, respectively. Meanwhile, Republic Airways Holdings actually underperformed within the industry, shrinking 22% in the last week. In the last 12 months, the industry was up 45%. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Jun 2026US$145.2bUS$209.9bUS$8.5b10.2x17.1x0.7x
Thu, 30 Apr 2026US$118.2bUS$210.7bUS$8.8b8.8x13.5x0.6x
Sat, 28 Mar 2026US$120.0bUS$205.5bUS$8.5b8.5x14.1x0.6x
Mon, 23 Feb 2026US$140.3bUS$209.9bUS$7.3b9.9x19.3x0.7x
Wed, 21 Jan 2026US$140.7bUS$208.3bUS$7.1b9x19.8x0.7x
Fri, 19 Dec 2025US$135.3bUS$207.9bUS$6.7b10.3x20.1x0.7x
Sun, 16 Nov 2025US$116.9bUS$206.1bUS$6.6b9.1x17.7x0.6x
Tue, 14 Oct 2025US$118.5bUS$205.3bUS$7.2b9.7x16.5x0.6x
Thu, 11 Sep 2025US$122.7bUS$204.5bUS$7.1b10.6x17.4x0.6x
Sat, 09 Aug 2025US$123.6bUS$210.4bUS$6.7b9.2x18.4x0.6x
Mon, 07 Jul 2025US$108.6bUS$209.6bUS$6.6b12x16.4x0.5x
Wed, 04 Jun 2025US$103.4bUS$209.1bUS$6.6b11.5x15.6x0.5x
Fri, 02 May 2025US$88.1bUS$204.4bUS$7.3b8.4x12x0.4x
Sun, 30 Mar 2025US$95.2bUS$201.0bUS$6.7b11.1x14.2x0.5x
Tue, 25 Feb 2025US$116.5bUS$200.2bUS$6.8b12x17.2x0.6x
Thu, 23 Jan 2025US$132.2bUS$198.7bUS$6.2b12.6x21.4x0.7x
Sat, 21 Dec 2024US$118.1bUS$196.3bUS$7.0b11.6x16.9x0.6x
Mon, 18 Nov 2024US$117.2bUS$196.6bUS$7.2b10.8x16.3x0.6x
Wed, 16 Oct 2024US$96.4bUS$182.8bUS$6.6b11.1x14.7x0.5x
Fri, 13 Sep 2024US$81.9bUS$182.6bUS$6.4b11.7x12.8x0.4x
Sun, 11 Aug 2024US$73.5bUS$182.9bUS$6.4b10.4x11.6x0.4x
Tue, 09 Jul 2024US$82.5bUS$180.8bUS$7.1b11.8x11.7x0.5x
Thu, 06 Jun 2024US$87.8bUS$180.8bUS$7.0b12.3x12.5x0.5x
Sat, 04 May 2024US$89.9bUS$195.1bUS$7.3b8.9x12.3x0.5x
Mon, 01 Apr 2024US$89.5bUS$190.6bUS$7.5b11.1x12x0.5x
Wed, 28 Feb 2024US$86.4bUS$190.9bUS$7.2b11.6x12x0.5x
Fri, 26 Jan 2024US$80.6bUS$193.5bUS$7.0b10.2x11.6x0.4x
Sun, 24 Dec 2023US$85.4bUS$190.8bUS$6.0b10.8x14.2x0.4x
Tue, 21 Nov 2023US$73.4bUS$190.7bUS$6.1b9.7x12.1x0.4x
Thu, 19 Oct 2023US$68.3bUS$189.1bUS$7.1b10.2x9.6x0.4x
Sat, 16 Sep 2023US$80.6bUS$186.1bUS$6.5b10.9x12.4x0.4x
Mon, 14 Aug 2023US$91.6bUS$188.0bUS$6.0b11.8x15.3x0.5x
Wed, 12 Jul 2023US$105.9bUS$183.3bUS$4.0b25x26.4x0.6x
Fri, 09 Jun 2023US$86.2bUS$171.6bUS$3.2b24.4x27x0.5x
Price to Earnings Ratio

27x


Total Market Cap: US$86.2bTotal Earnings: US$3.2bTotal Revenue: US$171.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 15.3x202420252026
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 17.1x which is higher than its 3-year average PE of 15.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.52x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 39% per year over the last three years.
  • Revenues for these companies have grown 7.0% 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 Market1.58%
Industrials1.37%
Airlines9.26%
Airlines9.26%
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
UAL United Airlines HoldingsUS$111.7611.8%
+US$3.8b		37.6%PE9.9x
DAL Delta Air LinesUS$81.477.0%
+US$3.5b		68.0%PE11.9x
JOBY Joby AviationUS$11.979.6%
+US$1.0b		59.6%PS151.6x
LUV Southwest AirlinesUS$42.764.7%
+US$928.7m		29.1%PE25.6x
ALK Alaska Air GroupUS$44.527.7%
+US$354.3m		-12.5%PE68x

Latest News

UAL
US$111.76
United Airlines Holdings
7D
11.8%
1Y
37.6%
LUV
US$42.76
Southwest Airlines
7D
4.7%
1Y
29.1%
AAL
US$14.34
American Airlines Group
7D
3.5%
1Y
26.0%
SKYW
US$81.90
SkyWest
7D
-3.4%
1Y
-20.7%
Narrative Update • Jun 01

SKYW: Low Fuel Sensitivity And Completed Buybacks Will Support Future Upside

Analysts have trimmed SkyWest's price target by $1, reflecting an updated fair value of $121.50 as slightly higher discount rates and fine tuned growth and margin assumptions temper the prior outlook. Analyst Commentary Recent commentary around SkyWest highlights a mix of optimism on specific catalysts and caution reflected in reduced price targets and a slightly higher discount rate in valuation work.
JOBY
US$11.97
Joby Aviation
7D
9.6%
1Y
59.6%
Seeking Alpha • May 30

Joby Aviation: Buy The Future, Not The 2026 Revenue

Summary Joby Aviation is rated a speculative Buy, with valuation driven by future commercialization potential, not 2026 revenue estimates. Key investment drivers include Dubai's early rollout, eVTOL Integration Pilot Program in the US, Blade acquisition, and strategic partnerships with Uber and defense contracts. Production capacity is set to ramp up by 2027, with the Marina and Dayton sites potentially supporting up to 48 and 500 aircraft per year, respectively. Risks remain high due to cash burn, certification hurdles, and uncertainty in total addressable market, but JOBY leads in real-world commercialization efforts. Read the full article on Seeking Alpha
DAL
US$81.47
Delta Air Lines
7D
7.0%
1Y
68.0%
ULCC
US$5.93
Frontier Group Holdings
7D
19.8%
1Y
47.9%
RJET
US$18.29
Republic Airways Holdings
7D
-22.4%
1Y
n/a
SRFM
US$1.16
Surf Air Mobility
7D
-6.5%
1Y
-46.3%
ALGT
US$89.16
Allegiant Travel
7D
11.0%
1Y
61.7%
ALK
US$44.52
Alaska Air Group
7D
7.7%
1Y
-12.5%