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U.S. Airlines Industry Analysis

UpdatedDec 29, 2025
DataAggregated Company Financials
Companies20
  • 7D-2.4%
  • 3M15.7%
  • 1Y15.8%
  • YTD18.0%

Over the last 7 days, the Airlines industry has dropped 2.4%, driven by declines in Joby Aviation and Delta Air Lines of 6.1% and 1.7%, respectively. On the other hand Grupo Aeroméxico. de is actually up 8.4%. This takes the industry's 12 month performance to a gain of 16%. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Dec 2025US$138.1bUS$208.0bUS$6.7b9.9x20.6x0.7x
Wed, 26 Nov 2025US$118.2bUS$206.0bUS$6.6b9.4x17.9x0.6x
Fri, 24 Oct 2025US$121.4bUS$205.8bUS$7.2b9.6x16.9x0.6x
Sun, 21 Sep 2025US$125.5bUS$204.5bUS$7.1b10.4x17.8x0.6x
Tue, 19 Aug 2025US$123.8bUS$204.4bUS$7.1b10.5x17.5x0.6x
Thu, 17 Jul 2025US$117.6bUS$209.4bUS$7.5b12.4x15.8x0.6x
Sat, 14 Jun 2025US$101.2bUS$209.2bUS$6.6b10.7x15.3x0.5x
Mon, 12 May 2025US$100.3bUS$204.6bUS$7.6b11.1x13.3x0.5x
Wed, 09 Apr 2025US$79.2bUS$201.1bUS$6.7b8.9x11.8x0.4x
Fri, 07 Mar 2025US$111.7bUS$201.0bUS$6.7b11.1x16.7x0.6x
Sun, 02 Feb 2025US$127.8bUS$199.9bUS$6.9b13.8x18.5x0.6x
Tue, 31 Dec 2024US$122.6bUS$196.4bUS$7.0b11.7x17.6x0.6x
Thu, 28 Nov 2024US$119.2bUS$196.4bUS$7.0b11.5x17.1x0.6x
Sat, 26 Oct 2024US$101.4bUS$183.4bUS$6.3b11.1x16.1x0.6x
Mon, 23 Sep 2024US$85.5bUS$182.6bUS$6.4b11.9x13.4x0.5x
Wed, 21 Aug 2024US$75.0bUS$182.6bUS$6.4b10.1x11.7x0.4x
Fri, 19 Jul 2024US$84.5bUS$182.8bUS$6.8b12.3x12.5x0.5x
Sun, 16 Jun 2024US$85.9bUS$180.8bUS$7.0b11.6x12.2x0.5x
Tue, 14 May 2024US$91.9bUS$180.9bUS$7.0b13.3x13.2x0.5x
Thu, 11 Apr 2024US$87.0bUS$191.7bUS$7.9b9.7x11.1x0.5x
Sat, 09 Mar 2024US$86.0bUS$190.8bUS$7.3b10.6x11.7x0.5x
Mon, 05 Feb 2024US$81.2bUS$190.9bUS$7.2b10.4x11.3x0.4x
Wed, 03 Jan 2024US$83.0bUS$190.8bUS$6.0b10.6x13.8x0.4x
Fri, 01 Dec 2023US$74.5bUS$190.7bUS$6.1b9.4x12.3x0.4x
Sun, 29 Oct 2023US$63.1bUS$189.3bUS$6.9b9.8x9.2x0.3x
Tue, 26 Sep 2023US$76.4bUS$186.0bUS$6.5b10.5x11.7x0.4x
Thu, 24 Aug 2023US$87.4bUS$186.3bUS$6.5b11.6x13.4x0.5x
Sat, 22 Jul 2023US$103.4bUS$187.2bUS$5.9b24x17.7x0.6x
Mon, 19 Jun 2023US$93.9bUS$171.6bUS$3.2b25.7x29.4x0.5x
Wed, 17 May 2023US$77.0bUS$171.6bUS$3.2b21.5x24.1x0.4x
Fri, 14 Apr 2023US$76.8bUS$160.9bUS$920.3m18.6x83.5x0.5x
Sun, 12 Mar 2023US$83.8bUS$160.9bUS$1.0b20.3x81.5x0.5x
Tue, 07 Feb 2023US$89.8bUS$159.8bUS$1.4b20.9x65.1x0.6x
Thu, 05 Jan 2023US$77.4bUS$149.1b-US$1,261,567,000.0016.5x-61.3x0.5x
Price to Earnings Ratio

-61.3x


Total Market Cap: US$77.4bTotal Earnings: -US$1,261,567,000.00Total Revenue: US$149.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average -0.8x20242025
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 20.6x which is higher than its 3-year average PE of -0.75x.
  • The industry is trading close to its 3-year average PS ratio of 0.50x.
Past Earnings Growth
  • Total earnings for the Airlines industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 12% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market0.61%
Industrials0.11%
Airlines-2.40%
Airlines-2.40%
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
AERO Grupo Aeroméxico. deUS$22.918.4%
+US$259.7m		n/aPE12.7x
UP Wheels Up ExperienceUS$0.677.4%
+US$33.6m		-59.8%PS0.6x
FLYX flyExclusiveUS$4.0925.8%
+US$17.4m		37.2%PS0.2x

Latest News

LUV
US$41.28
Southwest Airlines
7D
-2.3%
1Y
23.0%

LUV: Technology-Driven Merchandising Will Support Higher Margins And Reduced Risk Profile

Analysts have lifted their price target for Southwest Airlines to approximately $55 per share from about $46, citing expectations for faster revenue growth, improved profit margins, and a lower perceived risk profile, in line with recent Street research that highlights the airline sector’s evolving merchandising and pricing power. Analyst Commentary Bullish analysts are pointing to Southwest’s improving fundamentals and revenue trajectory as justification for higher valuation expectations.
AAL
US$15.44
American Airlines Group
7D
-5.0%
1Y
-12.4%

AAL: Rising Execution Risks Will Likely Cap Upside Amid Industry Shift

Analysts have modestly raised their price target on American Airlines Group, reflecting a fair value increase from roughly $9.00 to about $10.80 per share as they factor in improving revenue growth, slightly stronger profit margins, and higher industry price targets from recent research. Analyst Commentary Recent Street research on American Airlines Group reflects a cautiously constructive but uneven backdrop, with a mix of higher price targets and restrained ratings that underscore lingering concerns around execution and competitive positioning.
UAL
US$114.04
United Airlines Holdings
7D
-1.7%
1Y
16.1%

United Airlines Holdings, Inc. (NASDAQ:UAL) Surges 26% Yet Its Low P/E Is No Reason For Excitement

Dec 23
United Airlines Holdings, Inc. (NASDAQ:UAL) Surges 26% Yet Its Low P/E Is No Reason For Excitement
UP
US$0.67
Wheels Up Experience
7D
7.4%
1Y
-59.8%
ALK
US$51.49
Alaska Air Group
7D
-3.7%
1Y
-20.6%
DAL
US$70.85
Delta Air Lines
7D
-1.7%
1Y
16.7%
AERO
US$22.91
Grupo Aeroméxico. de
7D
8.4%
1Y
n/a
JOBY
US$13.88
Joby Aviation
7D
-6.1%
1Y
65.4%
CPA
US$121.53
Copa Holdings
7D
-1.8%
1Y
39.0%

CPA: Expanding Capacity And Higher Load Factors Will Drive Future Upside

Analysts have slightly reduced their price target on Copa Holdings to approximately $156 from about $157, reflecting marginally lower revenue growth assumptions, partially offset by expectations for improved profit margins and a modestly lower future valuation multiple. What's in the News Copa Holdings reported strong third quarter 2025 operating results, with revenue passengers carried up to 3.81 million from 3.45 million and load factor improving to 88.0% from 86.2% a year earlier (company results filing).
JBLU
US$4.69
JetBlue Airways
7D
-5.4%
1Y
-41.4%

JBLU: Technology-Driven Merchandising Shift Will Support Gradual Margin Recovery

Analysts have modestly raised their JetBlue Airways price target to $5 from $4, reflecting slightly stronger expectations for revenue growth and profit margins, even as they apply a marginally higher discount rate and a lower future P E multiple amid a broader, technology driven shift in U S airline merchandising. Analyst Commentary Bullish analysts frame the modest price target increase as a sign that JetBlue is beginning to stabilize fundamentals after a period of operational and cost volatility.
FLYX
US$4.09
flyExclusive
7D
25.8%
1Y
37.2%