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U.S. Airlines Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies16
  • 7D7.2%
  • 3M36.1%
  • 1Y59.0%
  • YTD19.4%

In the last week, the Airlines industry is up 7.2%, with United Airlines Holdings leading the way, up 12%. Meanwhile, Joby Aviation actually underperformed within the industry, shrinking 6.6% in the last week. This means that the industry has gained 59% over the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026US$162.4bUS$209.5bUS$8.5b12x19.1x0.8x
Fri, 29 May 2026US$144.1bUS$209.9bUS$8.5b10.2x17x0.7x
Sun, 26 Apr 2026US$121.8bUS$210.6bUS$8.9b9.1x13.7x0.6x
Tue, 24 Mar 2026US$116.4bUS$209.7bUS$7.4b8.8x15.7x0.6x
Thu, 19 Feb 2026US$142.5bUS$206.3bUS$7.4b10x19.2x0.7x
Sat, 17 Jan 2026US$141.6bUS$208.2bUS$7.1b9.2x20x0.7x
Mon, 15 Dec 2025US$136.2bUS$207.9bUS$6.7b9.8x20.3x0.7x
Wed, 12 Nov 2025US$118.8bUS$206.3bUS$6.6b9.1x18x0.6x
Fri, 10 Oct 2025US$120.5bUS$205.3bUS$7.2b9.9x16.7x0.6x
Sun, 07 Sep 2025US$123.4bUS$204.5bUS$7.1b11.1x17.5x0.6x
Tue, 05 Aug 2025US$110.1bUS$210.4bUS$6.8b9.6x16.1x0.5x
Thu, 03 Jul 2025US$105.4bUS$209.6bUS$6.6b11.8x15.9x0.5x
Sat, 31 May 2025US$103.6bUS$204.3bUS$7.7b11.3x13.5x0.5x
Mon, 28 Apr 2025US$86.5bUS$204.6bUS$6.8b8.8x12.7x0.4x
Wed, 26 Mar 2025US$104.1bUS$201.0bUS$6.7b11.8x15.5x0.5x
Fri, 21 Feb 2025US$125.6bUS$200.1bUS$6.8b12.6x18.6x0.6x
Sun, 19 Jan 2025US$127.3bUS$197.5bUS$5.8b12.8x22x0.6x
Tue, 17 Dec 2024US$119.0bUS$196.5bUS$7.0b11.4x17x0.6x
Thu, 14 Nov 2024US$116.1bUS$196.7bUS$7.2b10.7x16.2x0.6x
Sat, 12 Oct 2024US$92.9bUS$182.8bUS$6.6b11.2x14.1x0.5x
Mon, 09 Sep 2024US$79.3bUS$182.6bUS$6.4b11.7x12.4x0.4x
Wed, 07 Aug 2024US$69.6bUS$182.9bUS$6.1b11.3x11.4x0.4x
Fri, 05 Jul 2024US$85.3bUS$180.8bUS$7.1b12.4x12.1x0.5x
Sun, 02 Jun 2024US$88.1bUS$180.8bUS$7.0b12.2x12.5x0.5x
Tue, 30 Apr 2024US$89.7bUS$194.8bUS$7.4b8.8x12.1x0.5x
Thu, 28 Mar 2024US$89.0bUS$190.7bUS$7.3b11.1x12.2x0.5x
Sat, 24 Feb 2024US$86.3bUS$190.8bUS$7.2b11.2x12x0.5x
Mon, 22 Jan 2024US$77.7bUS$191.6bUS$7.2b9.2x10.7x0.4x
Wed, 20 Dec 2023US$84.4bUS$190.8bUS$6.0b10.7x14x0.4x
Fri, 17 Nov 2023US$71.0bUS$190.7bUS$6.1b9.8x11.7x0.4x
Sun, 15 Oct 2023US$70.3bUS$187.4bUS$6.9b10.3x10.2x0.4x
Tue, 12 Sep 2023US$83.5bUS$186.1bUS$6.5b11.3x12.8x0.4x
Thu, 10 Aug 2023US$93.1bUS$187.9bUS$6.2b11.3x15.1x0.5x
Sat, 08 Jul 2023US$102.6bUS$183.2bUS$4.0b23.8x25.6x0.6x
Price to Earnings Ratio

25.6x


Total Market Cap: US$102.6bTotal Earnings: US$4.0bTotal Revenue: US$183.2bTotal 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 19.1x 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 29% per year over the last three years.
  • Revenues for these companies have grown 4.6% 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 Market1.92%
Industrials2.63%
Airlines7.18%
Airlines7.18%
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$135.9911.9%
+US$4.7b		69.9%PE12x
DAL Delta Air LinesUS$93.668.0%
+US$4.5b		91.1%PE13.7x
AAL American Airlines GroupUS$18.0712.0%
+US$1.3b		56.9%PE59.2x
LUV Southwest AirlinesUS$51.424.1%
+US$982.4m		53.9%PE30.8x
ALGT Allegiant TravelUS$117.6013.6%
+US$375.5m		101.5%PS1.2x

Latest News

RJET
US$21.01
Republic Airways Holdings
7D
19.2%
1Y
n/a
DAL
US$93.66
Delta Air Lines
7D
8.0%
1Y
91.1%
Narrative Update • Jun 30

DAL: Premium Margins And Higher Dividend Will Support Future Stock Upside

Analysts have raised the fair value estimate for Delta Air Lines to $107.00 from $101.56, citing expectations for higher profit margins, a slightly lower discount rate, and updated sector price targets following supportive research across the U.S. airline group. Analyst Commentary Recent research on Delta Air Lines points to a cluster of higher fair value views, with multiple bullish analysts lifting price targets as they reassess earnings power, margins, and sector positioning.
LUV
US$51.42
Southwest Airlines
7D
4.1%
1Y
53.9%
Narrative Update • Jun 30

LUV: Cloud Transformation And Sector Optimism Will Shape Earnings Risk Balance

The analyst price target on Southwest Airlines is increasing from $45.64 to $47.51, with analysts citing sector-wide Q2 and Q3 optimism, improved margin expectations into 2027, and ongoing benefits from the company’s transformation plan as key supports. Analyst Commentary Recent research on Southwest Airlines points to a mixed but generally constructive tone, with several firms adjusting price targets higher and framing the upcoming Q2 and Q3 periods as important checkpoints for the stock.
UAL
US$135.99
United Airlines Holdings
7D
11.9%
1Y
69.9%
Narrative Update • Jun 30

UAL: Premium Demand And Asset Purchases Will Balance Fuel And Execution Risks

United Airlines Holdings' analyst price target has been revised higher from $132.08 to $136.63 as analysts factor in updated fair value estimates, slightly adjusted revenue growth and margin assumptions, and modestly higher future P/E expectations following a series of upward target moves from major research firms. Analyst Commentary Recent research updates on United Airlines Holdings point to a wide range of price targets, with several fresh revisions higher.
AAL
US$18.07
American Airlines Group
7D
12.0%
1Y
56.9%
FLYX
US$2.00
flyExclusive
7D
-2.0%
1Y
-6.5%
SOAR
US$0.16
Volato Group
7D
-2.0%
1Y
-86.6%
JOBY
US$8.92
Joby Aviation
7D
-6.6%
1Y
-9.1%
ULCC
US$7.91
Frontier Group Holdings
7D
9.1%
1Y
102.3%
ALGT
US$117.60
Allegiant Travel
7D
13.6%
1Y
101.5%
ALK
US$52.20
Alaska Air Group
7D
6.1%
1Y
4.0%