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U.S. Airlines Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies19
  • 7D-0.8%
  • 3M20.3%
  • 1Y14.2%
  • YTD1.1%

In the last week, the Airlines industry is up 1.7%, with Southwest Airlines up 2.5%. This means that the industry has gained 18% over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026US$144.0bUS$206.2bUS$7.4b9.9x19.4x0.7x
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
Price to Earnings Ratio

71.4x


Total Market Cap: US$85.0bTotal Earnings: US$1.2bTotal Revenue: US$160.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 18.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Airlines industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 18.9x.
  • 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 84% per year over the last three years.
  • Revenues for these companies have grown 8.6% 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 Market0.64%
Industrials2.24%
Airlines-0.79%
Airlines-0.79%
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
LUV Southwest AirlinesUS$52.082.5%
+US$614.1m		70.1%PE58x
JOBY Joby AviationUS$10.253.7%
+US$358.9m		37.2%PS439x
AERO Grupo Aeroméxico. deUS$20.5110.9%
+US$293.3m		n/aPE8.5x
UAL United Airlines HoldingsUS$110.050.7%
+US$245.8m		14.8%PE10.6x
JBLU JetBlue AirwaysUS$5.915.0%
+US$103.6m		-18.4%PS0.2x

Latest News

JOBY
US$10.25
Joby Aviation
7D
3.7%
1Y
37.2%
ALK
US$52.13
Alaska Air Group
7D
-6.4%
1Y
-30.8%
JBLU
US$5.91
JetBlue Airways
7D
5.0%
1Y
-18.4%
UAL
US$110.05
United Airlines Holdings
7D
0.7%
1Y
14.8%

UAL: Q4 Setup And 90 Day Catalyst Watch Will Drive Upside

The updated analyst price target for United Airlines Holdings edges higher to about $139, with analysts pointing to a slightly lower discount rate and a modestly lower assumed future P/E multiple as they reassess the risk and valuation backdrop following a series of recent target hikes and a new 90 day catalyst watch. Analyst Commentary Recent research on United Airlines Holdings has been active, with several firms updating their price targets and reassessing assumptions around earnings power, valuation multiples, and near term catalysts.
AERO
US$20.51
Grupo Aeroméxico. de
7D
10.9%
1Y
n/a

Premium Travel And Long Haul Expansion Will Drive Long Term Upside

Catalysts About Grupo Aeroméxico. de Grupo Aeroméxico de operates a full service airline focused on domestic and international passenger air travel with a premium offering and loyalty ecosystem.
ALGT
US$104.18
Allegiant Travel
7D
-4.7%
1Y
21.2%

ALGT: Flat 2026 Capacity And Acquisition Integration May Support Steadier Earnings Path

Analysts have lifted their price targets on Allegiant Travel, with our fair value estimate moving from $99.40 to about $114.27 as they factor in updated views on revenue growth, profit margins, discount rates, and future P/E assumptions following a series of recent research revisions across the airline group. Analyst Commentary Recent research on Allegiant Travel reflects a mix of optimism and caution, with many firms revisiting their price targets and ratings following sector wide updates and company specific news, including an acquisition that some describe as transformational.
RJET
US$19.80
Republic Airways Holdings
7D
6.7%
1Y
n/a
DAL
US$67.44
Delta Air Lines
7D
-3.0%
1Y
5.8%

DAL: Premium Demand And 2026 Outlook Will Support Further Upside

The analyst price target for Delta Air Lines has been reduced by approximately $1 to $81.29. Analysts cite minor changes to fair value, discount rate, revenue growth, and profit margin assumptions, reflecting a combination of recent target increases and modest reductions across the Street.
CPA
US$139.34
Copa Holdings
7D
-7.4%
1Y
42.1%

Copa Holdings' (NYSE:CPA) Shareholders Will Receive A Bigger Dividend Than Last Year

Feb 15
Copa Holdings' (NYSE:CPA) Shareholders Will Receive A Bigger Dividend Than Last Year
ULCC
US$5.09
Frontier Group Holdings
7D
-3.0%
1Y
-41.6%
SNCY
US$19.98
Sun Country Airlines Holdings
7D
-4.1%
1Y
10.0%
SRFM
US$2.07
Surf Air Mobility
7D
4.5%
1Y
-51.3%

Surf Air Mobility Inc.'s (NYSE:SRFM) 32% Cheaper Price Remains In Tune With Revenues

Feb 12
Surf Air Mobility Inc.'s (NYSE:SRFM) 32% Cheaper Price Remains In Tune With Revenues
SKYW
US$101.95
SkyWest
7D
-2.0%
1Y
0.9%

SKYW: Firmer Margins And Buybacks Will Support Future Upside

Analysts have lifted their price target on SkyWest to $128.33, citing modestly higher assumptions for revenue growth and profit margins, along with a slightly lower discount rate and a reduced future P/E multiple that together refine their outlook on the stock’s risk and return profile. Analyst Commentary Bullish Takeaways Bullish analysts see the refined revenue and margin assumptions as better aligned with SkyWest's recent execution, which they view as reducing uncertainty around future cash flows that feed into their valuation work.
LUV
US$52.08
Southwest Airlines
7D
2.5%
1Y
70.1%
AAL
US$13.35
American Airlines Group
7D
-5.0%
1Y
-15.8%

AAL: Execution And Regulatory Risks Will Likely Restrain Margin-Driven Repricing

Analysts have nudged their fair value estimate for American Airlines Group higher to about US$12.69 from roughly US$10.81, citing Street research that points to stronger revenue initiatives, improving margin potential, and a recalibration of future P/E expectations across the airline group. Analyst Commentary Recent Street research on American Airlines Group has been mixed, with several firms adjusting price targets and ratings as they reassess revenue potential, cost trends, and the outlook for sector earnings over the next couple of years.