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U.S. Airlines Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies16
  • 7D1.9%
  • 3M25.3%
  • 1Y53.5%
  • YTD9.8%

Southwest Airlines is up 5.4%, leading the way for the Airlines industry, which has gained 1.9%. In the last 12 months, the industry was up 53%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026US$149.5bUS$209.6bUS$8.5b10.5x17.6x0.7x
Thu, 21 May 2026US$119.1bUS$209.8bUS$8.5b8.7x14x0.6x
Sat, 18 Apr 2026US$125.4bUS$208.2bUS$8.2b10.2x15.3x0.6x
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
Price to Earnings Ratio

24.9x


Total Market Cap: US$99.6bTotal 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 17.6x 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 0.52x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 28% 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 Market-1.82%
Industrials1.73%
Airlines1.93%
Airlines1.93%
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$48.575.4%
+US$1.2b		52.4%PE29.1x
DAL Delta Air LinesUS$85.922.2%
+US$1.2b		78.1%PE12.5x
AAL American Airlines GroupUS$16.084.0%
+US$410.1m		47.5%PE52.6x
CPA Copa HoldingsUS$152.995.9%
+US$351.4m		49.0%PE8.8x
JOBY Joby AviationUS$9.862.0%
+US$186.9m		15.9%PS124.9x

Latest News

JOBY
US$9.86
Joby Aviation
7D
2.0%
1Y
15.9%
JBLU
US$5.49
JetBlue Airways
7D
2.4%
1Y
33.9%
DAL
US$85.92
Delta Air Lines
7D
2.2%
1Y
78.1%
ALK
US$48.80
Alaska Air Group
7D
-0.6%
1Y
2.2%
SOAR
US$0.18
Volato Group
7D
-11.6%
1Y
-88.6%
LUV
US$48.57
Southwest Airlines
7D
5.4%
1Y
52.4%
Analysis Article • Jun 19

Southwest Airlines (LUV) Stock Could Be 5.1% Overvalued After AWS Partnership News

Southwest Airlines (LUV) is back in focus after outlining a broad technology overhaul through a new partnership with Amazon Web Services, alongside a sector wide lift from easing fuel cost concerns tied to de-escalating geopolitical risks. See our latest analysis for Southwest Airlines. The AW S partnership and easing fuel cost concerns have arrived alongside a sharp rebound in Southwest Airlines, with a 30 day share price return of 28.43% and a 1 year total shareholder return of 56.84%. This...
CPA
US$152.99
Copa Holdings
7D
5.9%
1Y
49.0%
Analysis Article • Jun 19

Copa Holdings (CPA) Stock Could Be 8.5% Undervalued After May Traffic Data

Copa Holdings (NYSE:CPA) is back in focus after releasing preliminary traffic data for May 2026. The report shows year-over-year changes in capacity, demand, and load factor that help investors reassess the airline stock. See our latest analysis for Copa Holdings. Copa Holdings has seen momentum build in recent months, with a 17.84% 1 month share price return and a 53.14% 1 year total shareholder return, as May traffic data refocuses attention on growth and risk expectations. If Copa...
AAL
US$16.08
American Airlines Group
7D
4.0%
1Y
47.5%
Narrative Update • Jun 19

AAL: Solid Demand And Higher Fares Offset Fuel And Execution Risks

American Airlines Group's analyst price target has been revised higher to $15.61 from $14.94 as analysts factor in solid demand trends, firmer fares, and updated expectations for earnings durability, which are reflected in a higher projected future P/E multiple. Analyst Commentary Street research on American Airlines Group has become more active, with several firms revising price targets and reassessing the stock's risk and reward profile.
ULCC
US$7.14
Frontier Group Holdings
7D
8.7%
1Y
103.7%
Seeking Alpha • Jun 18

Frontier Group: The Spirit Tailwind Does Not Fix The Structural Problems

Summary Frontier Group Holdings is rated sell due to persistent unprofitability despite favorable industry tailwinds and cost-saving initiatives. ULCC's Q1 revenue rose 9% YoY, but GAAP net loss reached $272 million, with adjusted metrics masking true economic challenges. Liquidity appears adequate short-term, but $6.27B in lease obligations and $10.75B in aircraft commitments create significant long-term risk. Valuation looks deceptively cheap; without proven free cash flow, equity remains highly speculative and exposed to operational leverage. Read the full article on Seeking Alpha
UAL
US$118.68
United Airlines Holdings
7D
-1.1%
1Y
54.2%
Analysis Article • Jun 18

United Airlines Holdings (UAL) Stock Could Be 12.3% Undervalued After Strait Of Hormuz Deal

The peace framework between the U.S. and Iran, which will reopen the Strait of Hormuz, has quickly become a key story for United Airlines Holdings (UAL) stock as investors reassess fuel costs and international demand. See our latest analysis for United Airlines Holdings. United Airlines Holdings shares have been volatile, but the recent peace framework and easing fuel concerns coincide with a 7 day share price return of 12.7% and a 1 year total shareholder return of 55.9%, hinting that...
ALGT
US$102.18
Allegiant Travel
7D
7.3%
1Y
98.1%
Narrative Update • Jun 17

ALGT: Sun Country Integration Risks Will Pressure Overvalued Stock Outlook

Analysts have raised their average price target on Allegiant Travel stock by $10 to $100, citing the completed Sun Country acquisition as a key driver of expected revenue and margin benefits that support a lower discount rate, higher projected growth, and a reset future P/E assumption. Analyst Commentary Recent Street research on Allegiant Travel reflects a mix of optimism around the Sun Country acquisition and ongoing caution about valuation, execution, and growth risks.
UP
US$7.29
Wheels Up Experience
7D
-12.2%
1Y
-72.4%
RJET
US$17.30
Republic Airways Holdings
7D
-6.1%
1Y
n/a
Seeking Alpha • Jun 09

Republic Airways Q1: Too Much Uncertainty Regarding The Short Term

Summary Republic Airways Holdings Inc. is navigating post-merger integration with Mesa Airlines, driving significant revenue growth but limited operating leverage. RJET's operating income rose only 2.5% despite a 33.6% revenue increase, as merger-related expenses outpaced top-line gains. Management reaffirmed 2026 guidance, targeting $2B revenues and 10%-12% GAAP operating margins, but faces integration and cost rationalization challenges. The short-term outlook remains uncertain due to high fuel costs, capacity cuts by partners, and ongoing integration; monitoring the next quarters is prudent. Read the full article on Seeking Alpha
SRFM
US$1.07
Surf Air Mobility
7D
-4.5%
1Y
-44.0%
Narrative Update • Jun 05

SRFM: Reaffirmed 2026 Outlook And SurfOS Execution Will Support Long Term Upside

Narrative Update Surf Air Mobility’s analyst price target has been reduced from $2.25 to $1.50, as analysts factor in the latest Q1 bottom line loss, reiterated FY26 revenue expectations, improved longer term profitability guidance, and new Q2/26 outlook details. Analyst Commentary Recent research reflects a mixed but engaged view of Surf Air Mobility, with the lower price target signaling more conservative expectations while still recognizing areas where the company is executing on its plan.
FLYX
US$1.99
flyExclusive
7D
-3.9%
1Y
-24.9%
AERO
US$17.39
Grupo Aeroméxico. de
7D
-1.1%
1Y
n/a