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U.S. Airlines Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies18
  • 7D-6.7%
  • 3M-18.9%
  • 1Y16.6%
  • YTD-17.8%

Over the last 7 days, the Airlines industry has dropped 6.7%, driven by United Airlines Holdings declining 8.4%. Over the past 12 months, the industry was up 17%. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026US$112.7bUS$209.5bUS$7.4b8.4x15.2x0.5x
Wed, 11 Feb 2026US$148.3bUS$210.0bUS$7.3b9.9x20.4x0.7x
Fri, 09 Jan 2026US$141.8bUS$207.8bUS$6.7b10x21.1x0.7x
Sun, 07 Dec 2025US$131.1bUS$207.8bUS$6.7b9.5x19.5x0.6x
Tue, 04 Nov 2025US$117.5bUS$206.5bUS$6.9b9.4x16.9x0.6x
Thu, 02 Oct 2025US$118.3bUS$204.5bUS$7.1b9.5x16.8x0.6x
Sat, 30 Aug 2025US$126.1bUS$204.4bUS$7.1b11.1x17.9x0.6x
Mon, 28 Jul 2025US$117.7bUS$210.6bUS$6.9b11.1x17x0.6x
Wed, 25 Jun 2025US$103.0bUS$209.3bUS$6.6b11.2x15.5x0.5x
Fri, 23 May 2025US$97.7bUS$204.2bUS$7.7b11x12.8x0.5x
Sun, 20 Apr 2025US$84.1bUS$203.5bUS$6.7b8.6x12.5x0.4x
Tue, 18 Mar 2025US$97.6bUS$201.2bUS$6.7b11x14.5x0.5x
Thu, 13 Feb 2025US$123.2bUS$200.1bUS$6.8b13.8x18.2x0.6x
Sat, 11 Jan 2025US$124.7bUS$197.5bUS$5.8b12.7x21.6x0.6x
Mon, 09 Dec 2024US$123.0bUS$196.5bUS$7.0b11.9x17.6x0.6x
Wed, 06 Nov 2024US$103.5bUS$183.9bUS$6.6b13.3x15.7x0.6x
Fri, 04 Oct 2024US$89.9bUS$182.6bUS$6.4b10.4x14x0.5x
Sun, 01 Sep 2024US$78.6bUS$182.6bUS$6.4b11.5x12.3x0.4x
Tue, 30 Jul 2024US$82.2bUS$183.2bUS$6.5b12.7x12.6x0.4x
Thu, 27 Jun 2024US$85.9bUS$180.8bUS$7.1b12.4x12.2x0.5x
Sat, 25 May 2024US$87.6bUS$180.8bUS$7.0b11.2x12.5x0.5x
Mon, 22 Apr 2024US$89.4bUS$192.6bUS$7.9b9.7x11.3x0.5x
Wed, 20 Mar 2024US$83.0bUS$190.7bUS$7.3b9.9x11.3x0.4x
Fri, 16 Feb 2024US$85.8bUS$190.8bUS$7.2b11.4x11.9x0.4x
Sun, 14 Jan 2024US$79.9bUS$191.6bUS$7.2b9.7x11x0.4x
Tue, 12 Dec 2023US$81.0bUS$190.7bUS$6.1b10x13.4x0.4x
Thu, 09 Nov 2023US$67.2bUS$189.2bUS$6.8b10.2x9.9x0.4x
Sat, 07 Oct 2023US$75.1bUS$186.0bUS$6.5b10.6x11.5x0.4x
Mon, 04 Sep 2023US$87.2bUS$186.2bUS$6.5b11x13.3x0.5x
Wed, 02 Aug 2023US$95.7bUS$187.7bUS$6.2b22.7x15.4x0.5x
Fri, 30 Jun 2023US$99.6bUS$183.2bUS$4.0b23.5x24.9x0.5x
Sun, 28 May 2023US$80.6bUS$171.6bUS$3.2b22.5x25.2x0.5x
Tue, 25 Apr 2023US$78.5bUS$168.7bUS$2.7b16.1x29.3x0.5x
Thu, 23 Mar 2023US$74.1bUS$160.9bUS$972.1m19x76.3x0.5x
Price to Earnings Ratio

76.3x


Total Market Cap: US$74.1bTotal Earnings: US$972.1mTotal Revenue: US$160.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 17.6x202420252026
Current Industry PE
  • Investors are pessimistic on the American Airlines industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 15.2x which is lower than its 3-year average PE of 17.6x.
  • 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 97% per year over the last three years.
  • Revenues for these companies have grown 9.2% 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-2.40%
Industrials-3.83%
Airlines-6.72%
Airlines-6.72%
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
DAL Delta Air LinesUS$60.840.4%
+US$168.9m		29.8%PE7.9x
SOAR Volato GroupUS$0.32-0.4%
US$2.8m		-81.2%PE6.1x

Latest News

AAL
US$10.49
American Airlines Group
7D
-8.3%
1Y
-7.3%
AERO
US$14.34
Grupo Aeroméxico. de
7D
-9.1%
1Y
n/a
SOAR
US$0.32
Volato Group
7D
-0.4%
1Y
-81.2%
JOBY
US$9.82
Joby Aviation
7D
-2.2%
1Y
52.7%
CPA
US$114.02
Copa Holdings
7D
-9.2%
1Y
20.8%

CPA: Higher Margins And Buybacks Will Support Stronger Future Returns

Analysts now set their price target for Copa Holdings at $212, up from $190. They cite adjustments to fair value assumptions, a lower discount rate, slightly different revenue growth expectations, a higher projected profit margin, and a modestly revised future P/E multiple.
ALK
US$38.44
Alaska Air Group
7D
-11.1%
1Y
-30.3%

ALK: Late 2025 Demand Momentum And 2026 Guidance Will Support Upside

Analysts have trimmed their price target on Alaska Air Group by $9 to $54, reflecting higher assumed fuel costs and more cautious expectations for margin expansion, even as some research points to supportive demand and a relatively constructive setup into 2026. Analyst Commentary Recent Street research around Alaska Air Group reflects a mix of caution on costs and optimism on demand, with price targets moving in both directions as firms refresh their models for fuel and 2026 guidance.
LUV
US$40.23
Southwest Airlines
7D
-6.5%
1Y
25.2%

LUV: Fuel Cost And Capacity Pressures Will Likely Undermine Fee Initiatives

The updated analyst price target for Southwest Airlines implies a slightly lower fair value of about $24.03, as analysts weigh stronger long term earnings initiatives and demand expectations against higher fuel cost risks and a modestly higher discount rate. Analyst Commentary Recent Street research on Southwest Airlines reflects a mix of optimism around long term earnings initiatives and growing caution around fuel costs, capacity trends, and execution on planned product changes.
UAL
US$90.28
United Airlines Holdings
7D
-4.5%
1Y
22.1%
DAL
US$60.84
Delta Air Lines
7D
0.4%
1Y
29.8%
ALGT
US$74.66
Allegiant Travel
7D
-9.5%
1Y
37.7%