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U.S. Airlines Industry Analysis

UpdatedAug 14, 2026
DataAggregated Company Financials
Companies17
  • 7D-2.5%
  • 3M23.9%
  • 1Y23.2%
  • YTD11.8%

Over the last 7 days, the Airlines industry has dropped 2.5%, driven by pullbacks in United Airlines Holdings and Southwest Airlines of 2.5% and 4.4%, respectively. This takes the industry's 12 month performance to a gain of 23%. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Aug 2026US$151.9bUS$218.2bUS$7.4b11x20.6x0.7x
Sun, 12 Jul 2026US$152.7bUS$197.6bUS$7.7b11.4x20x0.8x
Tue, 09 Jun 2026US$135.8bUS$209.7bUS$8.5b9.3x16x0.6x
Thu, 07 May 2026US$125.1bUS$210.9bUS$8.5b9.8x14.7x0.6x
Sat, 04 Apr 2026US$118.5bUS$205.3bUS$8.5b8.8x13.9x0.6x
Mon, 02 Mar 2026US$134.0bUS$210.0bUS$7.4b10.3x18.1x0.6x
Wed, 28 Jan 2026US$134.4bUS$209.5bUS$7.0b9.1x19.3x0.6x
Fri, 26 Dec 2025US$138.9bUS$208.0bUS$6.7b10.4x20.7x0.7x
Sun, 23 Nov 2025US$114.2bUS$206.0bUS$6.6b8.9x17.3x0.6x
Tue, 21 Oct 2025US$126.5bUS$205.8bUS$7.2b10x17.6x0.6x
Thu, 18 Sep 2025US$121.2bUS$204.6bUS$7.1b10.3x17.2x0.6x
Sat, 16 Aug 2025US$122.5bUS$204.4bUS$7.1b10.5x17.4x0.6x
Mon, 14 Jul 2025US$117.1bUS$209.4bUS$7.5b12.5x15.7x0.6x
Wed, 11 Jun 2025US$107.6bUS$209.0bUS$6.6b11.5x16.2x0.5x
Fri, 09 May 2025US$95.1bUS$204.6bUS$7.3b11.1x13x0.5x
Sun, 06 Apr 2025US$79.4bUS$201.1bUS$6.7b9.3x11.8x0.4x
Tue, 04 Mar 2025US$116.7bUS$205.6bUS$5.8b12x20x0.6x
Thu, 30 Jan 2025US$128.1bUS$199.7bUS$6.3b12.7x20.3x0.6x
Sat, 28 Dec 2024US$124.3bUS$196.3bUS$7.0b11.9x17.8x0.6x
Mon, 25 Nov 2024US$117.4bUS$196.4bUS$7.1b11.3x16.5x0.6x
Wed, 23 Oct 2024US$102.2bUS$183.1bUS$6.4b13.4x15.9x0.6x
Fri, 20 Sep 2024US$85.5bUS$182.6bUS$6.4b12.2x13.4x0.5x
Sun, 18 Aug 2024US$74.3bUS$182.6bUS$6.4b10.2x11.6x0.4x
Tue, 16 Jul 2024US$81.7bUS$181.9bUS$6.5b12.5x12.5x0.4x
Thu, 13 Jun 2024US$87.1bUS$180.8bUS$7.0b12.2x12.4x0.5x
Sat, 11 May 2024US$90.5bUS$193.8bUS$7.7b8.8x11.7x0.5x
Mon, 08 Apr 2024US$85.1bUS$190.7bUS$7.5b10.2x11.4x0.4x
Wed, 06 Mar 2024US$85.8bUS$190.9bUS$7.2b10.9x11.9x0.4x
Fri, 02 Feb 2024US$80.8bUS$190.9bUS$7.2b9.9x11.3x0.4x
Sun, 31 Dec 2023US$84.3bUS$190.8bUS$6.0b10.8x14x0.4x
Tue, 28 Nov 2023US$73.9bUS$190.7bUS$6.1b9.6x12.2x0.4x
Thu, 26 Oct 2023US$65.1bUS$189.1bUS$7.2b9.2x9.1x0.3x
Sat, 23 Sep 2023US$76.8bUS$186.1bUS$6.5b10.6x11.8x0.4x
Mon, 21 Aug 2023US$86.6bUS$186.3bUS$6.5b11.6x13.2x0.5x
Price to Earnings Ratio

13.2x


Total Market Cap: US$86.6bTotal Earnings: US$6.5bTotal Revenue: US$186.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 15.1x202420252026
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 20.6x which is higher than its 3-year average PE of 15.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.53x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 4.1% per year over the last three years.
  • Revenues for these companies have grown 5.4% 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 Market1.74%
Industrials0.50%
Airlines-2.49%
Airlines-2.49%
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
FLYX flyExclusiveUS$1.265.0%
+US$10.4m		-63.9%PS0.2x
SOAR Volato GroupUS$0.1725.0%
+US$1.1m		-88.4%PS0.1x

Latest News

JOBY
US$7.92
Joby Aviation
7D
-8.3%
1Y
-52.4%
FLYX
US$1.26
flyExclusive
7D
5.0%
1Y
-63.9%
ALGT
US$85.75
Allegiant Travel
7D
-10.3%
1Y
43.4%
Narrative Update • Aug 13

ALGT: Sun Country Synergies Will Shape Future Leisure-Focused Earnings Outlook

The analyst fair value estimate for Allegiant Travel has increased from $115.77 to $136.86 as analysts factor in higher assumed profitability, a higher future P/E multiple, and the expected benefits from the Sun Country Airlines acquisition, which are reflected in recent price target increases across the Street. Analyst Commentary Recent Street research on Allegiant Travel is broadly constructive, with several large firms highlighting the Sun Country Airlines acquisition, earnings power, and valuation as key drivers for their updated views.
UAL
US$125.34
United Airlines Holdings
7D
-3.3%
1Y
24.2%
ALK
US$45.96
Alaska Air Group
7D
-8.0%
1Y
-19.9%
Narrative Update • Aug 12

ALK: Softer Revenue Trajectory Versus Peers Will Drive Bearish Repricing

The analyst fair value estimate for Alaska Air Group has been revised from $47.00 to about $40.12, as analysts balance softer revenue growth assumptions with a slightly higher discount rate and improved profit margin expectations, informed by a mix of recent price target cuts and increases across the Street. Analyst Commentary on Alaska Air Group Street research on Alaska Air Group over the past several quarters shows a split view.
DAL
US$89.35
Delta Air Lines
7D
-2.2%
1Y
48.3%
Narrative Update • Aug 11

DAL: Future Margin Upside Will Struggle To Justify Current Pricing Power Expectations

Analysts have raised the fair value estimate for Delta Air Lines from about $64.40 to approximately $79.44, citing a series of higher Street price targets that reflect confidence in structurally higher margins, stronger pricing power, and the earnings contribution from Delta's loyalty program and diversified revenue base. Analyst Commentary Recent Street research around Delta Air Lines has been largely constructive, with many firms adjusting price targets higher following quarterly results, updated guidance, and commentary around the pricing backdrop, fuel costs, and the airline's diversified revenue mix.
LUV
US$44.26
Southwest Airlines
7D
-5.9%
1Y
40.5%
Narrative Update • Aug 11

LUV: Transformation Execution And Capacity Partnerships Will Shape Future Earnings Risk Balance

Southwest Airlines' analyst fair value estimate moves from $47.51 to $51.79 as analysts weigh mixed price target revisions, slightly firmer margin assumptions, and a modestly higher future P/E multiple. Analyst Commentary Recent research on Southwest Airlines shows a mix of optimism and caution as analysts reassess targets and assumptions following the latest Q2 results and updated guidance.
CPA
US$135.87
Copa Holdings
7D
-4.4%
1Y
15.9%
SOAR
US$0.17
Volato Group
7D
25.0%
1Y
-88.4%
AAL
US$14.83
American Airlines Group
7D
-7.0%
1Y
12.6%
Narrative Update • Jul 31

AAL: Higher Fares And Premium Upgrades Will Counter Rising Fuel Costs

American Airlines Group's analyst price target has edged lower to about $19.08 from $19.60 as analysts factor in higher fuel costs, slightly softer revenue growth assumptions, modestly lower profit margins, and a higher future P/E outlook. Analyst Commentary Recent research on American Airlines Group shows a split view, with many analysts still positive on the stock but tempering expectations as fuel costs move higher and revenue and margin assumptions are rechecked.