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U.S. Airlines Industry Analysis

UpdatedSep 29, 2025
DataAggregated Company Financials
Companies18
  • 7D-3.4%
  • 3M15.7%
  • 1Y33.7%
  • YTD3.0%

Over the last 7 days, the Airlines industry has dropped 3.4%, driven by United Airlines Holdings declining 6.0%. Over the past 12 months, the industry was up 34%. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Sep 2025US$119.6bUS$204.4bUS$7.1b9.8x17x0.6x
Wed, 27 Aug 2025US$123.3bUS$204.3bUS$7.1b10.9x17.5x0.6x
Fri, 25 Jul 2025US$122.5bUS$210.6bUS$7.1b11.6x17.4x0.6x
Sun, 22 Jun 2025US$98.9bUS$209.2bUS$6.6b10.5x14.9x0.5x
Tue, 20 May 2025US$103.3bUS$204.0bUS$7.7b11.3x13.5x0.5x
Thu, 17 Apr 2025US$84.6bUS$203.4bUS$6.7b8.4x12.6x0.4x
Sat, 15 Mar 2025US$93.4bUS$201.2bUS$6.7b10.9x13.9x0.5x
Mon, 10 Feb 2025US$129.3bUS$200.0bUS$6.8b14.6x19.1x0.6x
Wed, 08 Jan 2025US$122.5bUS$196.3bUS$7.0b12x17.5x0.6x
Fri, 06 Dec 2024US$122.1bUS$196.5bUS$7.0b12.2x17.5x0.6x
Sun, 03 Nov 2024US$106.2bUS$183.9bUS$6.6b13.2x16.1x0.6x
Tue, 01 Oct 2024US$92.0bUS$182.6bUS$6.4b11.8x14.4x0.5x
Thu, 29 Aug 2024US$76.8bUS$182.6bUS$6.4b11.1x12x0.4x
Sat, 27 Jul 2024US$82.6bUS$183.2bUS$6.5b13x12.7x0.5x
Mon, 24 Jun 2024US$86.5bUS$180.8bUS$7.1b12.7x12.2x0.5x
Wed, 22 May 2024US$91.7bUS$180.8bUS$7.0b11.4x13.1x0.5x
Fri, 19 Apr 2024US$89.3bUS$192.6bUS$7.9b9.6x11.3x0.5x
Sun, 17 Mar 2024US$83.0bUS$190.8bUS$7.3b10x11.3x0.4x
Tue, 13 Feb 2024US$85.4bUS$190.8bUS$7.2b11.4x11.8x0.4x
Thu, 11 Jan 2024US$85.7bUS$190.8bUS$6.0b10.2x14.2x0.4x
Sat, 09 Dec 2023US$81.2bUS$190.7bUS$6.1b9.9x13.4x0.4x
Mon, 06 Nov 2023US$68.0bUS$189.2bUS$6.8b10.4x10x0.4x
Wed, 04 Oct 2023US$74.7bUS$185.9bUS$6.5b10.3x11.5x0.4x
Fri, 01 Sep 2023US$87.5bUS$186.3bUS$6.5b11x13.4x0.5x
Sun, 30 Jul 2023US$95.1bUS$187.6bUS$5.9b16.7x16.2x0.5x
Tue, 27 Jun 2023US$92.7bUS$183.2bUS$4.0b21.6x23.2x0.5x
Thu, 25 May 2023US$78.8bUS$171.6bUS$3.2b21.5x24.7x0.5x
Sat, 22 Apr 2023US$78.9bUS$168.7bUS$2.7b16.2x29.4x0.5x
Mon, 20 Mar 2023US$74.3bUS$160.9bUS$972.1m19.1x76.5x0.5x
Wed, 15 Feb 2023US$88.2bUS$160.5bUS$1.3b20.6x68.2x0.5x
Fri, 13 Jan 2023US$88.9bUS$149.1b-US$1,261,567,000.0017.9x-70.5x0.6x
Sun, 11 Dec 2022US$81.4bUS$149.1b-US$1,153,426,000.0019.7x-70.5x0.5x
Tue, 08 Nov 2022US$80.8bUS$148.6b-US$1,204,453,000.0019.2x-67.1x0.5x
Thu, 06 Oct 2022US$72.9bUS$134.5b-US$612,797,000.0019.5x-119x0.5x
Price to Earnings Ratio

-119x


Total Market Cap: US$72.9bTotal Earnings: -US$612,797,000.00Total Revenue: US$134.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average -9x202320242025
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 17.0x which is higher than its 3-year average PE of -9.0x.
  • 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 15% 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 Market-0.97%
Industrials-0.92%
Airlines-3.40%
Airlines-3.40%
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
LUV Southwest AirlinesUS$32.761.4%
+US$241.6m		10.6%PE43.9x
JOBY Joby AviationUS$16.000.9%
+US$119.8m		218.1%PS139752.1x
ALGT Allegiant TravelUS$62.772.2%
+US$23.5m		14.0%PS0.4x
SOAR Volato GroupUS$1.7913.3%
+US$1.3m		-81.7%PS0.1x
MESA Mesa Air GroupUS$1.320.8%
+US$418.7k		9.1%PS0.1x

Latest News

UAL
US$98.64
United Airlines Holdings
7D
-5.3%
1Y
72.9%
DAL
US$57.66
Delta Air Lines
7D
-2.1%
1Y
13.5%
LUV
US$32.76
Southwest Airlines
7D
1.4%
1Y
10.6%

Expedia Channel And Premium Seating Will Boost Operational Efficiency

The consensus analyst price target for Southwest Airlines saw a slight upward revision to $32.51 as bullish analysts highlight stronger long-term profit expectations and industry consolidation benefits, while persistent near-term skepticism among others tempers enthusiasm. Analyst Commentary JPMorgan is bullish, citing above-consensus earnings estimates through 2026-2027 and expectations of outsized industry profit consolidation among stronger carriers like Southwest.
AAL
US$11.38
American Airlines Group
7D
-7.7%
1Y
1.2%

Domestic Recovery And Upgraded Fleet Will Sustain Future Success

The consensus analyst price target for American Airlines Group has been revised upward to $13.88, as improving demand and fare trends offset cost pressures and drive more optimistic long-term earnings forecasts, though valuation concerns and peer competition remain headwinds. Analyst Commentary Bullish analysts note improving demand and fare trends that are helping offset modest cost pressures in the airline sector.
SRTA
US$5.10
Strata Critical Medical
7D
-13.1%
1Y
73.5%

Critical Organ Transport And Joby Aviation Will Expand Healthcare Reach

Strata Critical Medical’s consensus price target has risen from $5.83 to $7.83, as analysts express increased confidence in management’s ability to deploy capital efficiently and drive shareholder value following the accretive acquisition of Keystone Perfusion Services. Analyst Commentary Bullish analysts highlight the successful deployment of Strata's large $235M pro forma cash position through the acquisition of Keystone Perfusion Services for $124M.
SKYW
US$101.12
SkyWest
7D
-1.9%
1Y
18.9%

SkyWest, Inc.'s (NASDAQ:SKYW) Earnings Are Not Doing Enough For Some Investors

Sep 21
SkyWest, Inc.'s (NASDAQ:SKYW) Earnings Are Not Doing Enough For Some Investors
ALK
US$50.44
Alaska Air Group
7D
-7.9%
1Y
11.6%

Seattle Expansion And Hawaiian Integration Will Create Lasting Value

Analysts have raised their price target for Alaska Air Group to $71.36, citing strengthening corporate demand, competitive easing, and long-term earnings tailwinds that outweigh near-term cost headwinds. Analyst Commentary Bullish analysts cite accelerating corporate demand and easing competitive pressures as key drivers of improved outlook and de-risked near-term performance.
JOBY
US$16.00
Joby Aviation
7D
0.9%
1Y
218.1%
ALGT
US$62.77
Allegiant Travel
7D
2.2%
1Y
14.0%
ULCC
US$4.82
Frontier Group Holdings
7D
-10.4%
1Y
-9.9%
UP
US$1.83
Wheels Up Experience
7D
-28.2%
1Y
-24.4%
SOAR
US$1.79
Volato Group
7D
13.3%
1Y
-81.7%
MESA
US$1.32
Mesa Air Group
7D
0.8%
1Y
9.1%