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U.S. Airlines Industry Analysis

UpdatedJun 03, 2026
DataAggregated Company Financials
Companies16
  • 7D0.7%
  • 3M9.4%
  • 1Y38.4%
  • YTD2.3%

In the last week, the Airlines industry is up 9.3%, with United Airlines Holdings leading the way, up 12%. During this same period, the Republic Airways Holdings underperformed, falling 22%. This means that the industry has gained 45% over the past year. 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
Wed, 03 Jun 2026US$142.8bUS$209.9bUS$8.5b9.6x16.8x0.7x
Fri, 01 May 2026US$116.7bUS$210.7bUS$8.8b8.9x13.3x0.6x
Sun, 29 Mar 2026US$114.9bUS$205.5bUS$8.5b8.5x13.5x0.6x
Tue, 24 Feb 2026US$140.3bUS$209.9bUS$7.3b10.2x19.3x0.7x
Thu, 22 Jan 2026US$135.6bUS$209.0bUS$7.1b9.4x19x0.6x
Sat, 20 Dec 2025US$137.1bUS$207.9bUS$6.7b10.1x20.4x0.7x
Mon, 17 Nov 2025US$116.9bUS$206.1bUS$6.6b9.1x17.7x0.6x
Wed, 15 Oct 2025US$121.3bUS$205.3bUS$7.2b10x16.9x0.6x
Fri, 12 Sep 2025US$123.9bUS$204.4bUS$7.1b10.8x17.6x0.6x
Sun, 10 Aug 2025US$113.1bUS$204.6bUS$7.1b9.2x15.9x0.6x
Tue, 08 Jul 2025US$108.6bUS$209.5bUS$6.6b12x16.4x0.5x
Thu, 05 Jun 2025US$103.7bUS$209.0bUS$6.6b11.2x15.6x0.5x
Sat, 03 May 2025US$88.1bUS$204.6bUS$7.3b10.5x12.1x0.4x
Mon, 31 Mar 2025US$95.2bUS$201.0bUS$6.7b11.1x14.2x0.5x
Wed, 26 Feb 2025US$118.3bUS$200.2bUS$6.8b12.2x17.5x0.6x
Fri, 24 Jan 2025US$129.5bUS$199.7bUS$6.2b12.5x20.7x0.6x
Sun, 22 Dec 2024US$120.0bUS$196.4bUS$7.0b11.6x17.2x0.6x
Tue, 19 Nov 2024US$117.2bUS$196.6bUS$7.2b10.8x16.3x0.6x
Thu, 17 Oct 2024US$101.9bUS$183.1bUS$6.4b12.1x15.9x0.6x
Sat, 14 Sep 2024US$83.4bUS$182.6bUS$6.4b11.5x13x0.5x
Mon, 12 Aug 2024US$73.5bUS$182.9bUS$6.4b10.4x11.6x0.4x
Wed, 10 Jul 2024US$82.9bUS$180.8bUS$7.1b11.8x11.7x0.5x
Fri, 07 Jun 2024US$89.4bUS$180.8bUS$7.0b12.2x12.7x0.5x
Sun, 05 May 2024US$90.3bUS$195.1bUS$7.3b8.9x12.3x0.5x
Tue, 02 Apr 2024US$89.5bUS$190.6bUS$7.5b10.8x12x0.5x
Thu, 29 Feb 2024US$87.1bUS$190.8bUS$7.2b11.7x12.1x0.5x
Sat, 27 Jan 2024US$82.5bUS$193.5bUS$7.1b10.2x11.7x0.4x
Mon, 25 Dec 2023US$85.4bUS$190.8bUS$6.0b10.8x14.2x0.4x
Wed, 22 Nov 2023US$73.4bUS$190.7bUS$6.1b9.7x12.1x0.4x
Fri, 20 Oct 2023US$67.6bUS$189.1bUS$7.2b10.1x9.4x0.4x
Sun, 17 Sep 2023US$81.1bUS$186.1bUS$6.5b10.6x12.4x0.4x
Tue, 15 Aug 2023US$91.6bUS$188.0bUS$6.0b11.6x15.3x0.5x
Thu, 13 Jul 2023US$104.8bUS$183.3bUS$4.0b24.9x26.1x0.6x
Sat, 10 Jun 2023US$87.1bUS$171.6bUS$3.2b24.3x27.3x0.5x
Price to Earnings Ratio

27.3x


Total Market Cap: US$87.1bTotal 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 Market1.22%
Industrials-0.21%
Airlines0.74%
Airlines0.74%
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$108.822.7%
+US$941.3m		34.2%PE9.6x
DAL Delta Air LinesUS$80.020.8%
+US$411.7m		63.9%PE11.7x
JOBY Joby AviationUS$11.873.0%
+US$344.3m		47.8%PS150.3x
ULCC Frontier Group HoldingsUS$5.778.7%
+US$105.7m		42.8%PS0.3x
LUV Southwest AirlinesUS$42.340.1%
+US$29.3m		29.9%PE25.3x

Latest News

JBLU
US$4.93
JetBlue Airways
7D
-6.6%
1Y
-5.4%
LUV
US$42.34
Southwest Airlines
7D
0.1%
1Y
29.9%
Narrative Update • Jun 02

LUV: Restructuring Efforts And Fuel Headwinds Will Shape Earnings Outlook

Narrative Update: Southwest Airlines Analysts lifted the implied fair value for Southwest Airlines stock by about $0.39 to $45.64, reflecting a series of recent price target changes that include raises to $60 and $53, alongside several cuts tied mainly to higher fuel cost assumptions and mixed earnings outlooks. Analyst Commentary Recent research on Southwest Airlines shows a mix of optimism and caution, with price targets ranging from the mid US$30s to US$60 and ratings spread across Buy, Hold or equivalent, Equal Weight or equivalent, and Sell.
UAL
US$108.82
United Airlines Holdings
7D
2.7%
1Y
34.2%
Narrative Update • Jun 02

UAL: Premium Demand And Fleet Expansion Will Counter Fuel Headwinds

The analyst price target for United Airlines Holdings has inched higher to $132.08 from $129.83 as analysts incorporate recent target increases from firms that are focusing on potential earnings growth and revised sector assumptions on fuel and revenue. Analyst Commentary Recent research on United Airlines Holdings reflects a mix of optimism on earnings potential and caution around fuel costs and sector wide risks, which feeds directly into the updated price targets.
AAL
US$13.93
American Airlines Group
7D
-6.2%
1Y
21.4%
SKYW
US$81.82
SkyWest
7D
-5.7%
1Y
-20.9%
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.
CPA
US$136.83
Copa Holdings
7D
-3.8%
1Y
25.9%
Seeking Alpha • May 31

Copa: An Airline With Strong Q1 Results Despite Sector Headwinds

Summary Copa Holdings (CPA), the parent of Copa Airlines, gets a buy for my initial rating. Q1 EPS saw YoY growth, as well as an impressive operating margin trend, and fleet expansion, but also demand. April traffic figures show passenger momentum. The dividend case is modest, with a low payout ratio and high yield but also no growth. The ongoing topic of fuel costs in this sector has been discussed. Read the full article on Seeking Alpha
JOBY
US$11.87
Joby Aviation
7D
3.0%
1Y
47.8%
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$80.02
Delta Air Lines
7D
0.8%
1Y
63.9%
ULCC
US$5.77
Frontier Group Holdings
7D
8.7%
1Y
42.8%
RJET
US$18.59
Republic Airways Holdings
7D
-24.9%
1Y
n/a
SRFM
US$1.13
Surf Air Mobility
7D
-10.3%
1Y
-55.2%
ALK
US$43.91
Alaska Air Group
7D
0.3%
1Y
-13.5%
UP
US$9.21
Wheels Up Experience
7D
6.4%
1Y
-69.1%
FLYX
US$2.59
flyExclusive
7D
-1.9%
1Y
-16.2%
AERO
US$16.56
Grupo Aeroméxico. de
7D
0.7%
1Y
n/a