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U.S. Airlines Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies20
  • 7D6.7%
  • 3M18.5%
  • 1Y10.2%
  • YTD2.8%

The Airlines industry is up 6.7% in the last week, with Southwest Airlines up 24%. Meanwhile, Joby Aviation actually underperformed within the industry, shrinking 20% in the last week. This means that the industry has gained 10% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026US$138.0bUS$209.8bUS$7.0b9.5x19.6x0.7x
Sat, 03 Jan 2026US$135.4bUS$207.9bUS$6.7b9.9x20.2x0.7x
Mon, 01 Dec 2025US$124.7bUS$207.8bUS$6.7b9.7x18.6x0.6x
Wed, 29 Oct 2025US$121.9bUS$206.5bUS$7.0b9.5x17.4x0.6x
Fri, 26 Sep 2025US$121.7bUS$204.5bUS$7.1b9.9x17.2x0.6x
Sun, 24 Aug 2025US$125.1bUS$204.5bUS$7.1b10.8x17.7x0.6x
Tue, 22 Jul 2025US$122.8bUS$209.6bUS$7.1b12.2x17.3x0.6x
Thu, 19 Jun 2025US$98.5bUS$209.1bUS$6.6b10.6x14.9x0.5x
Sat, 17 May 2025US$101.9bUS$204.5bUS$7.6b11.4x13.5x0.5x
Mon, 14 Apr 2025US$84.9bUS$202.0bUS$6.9b9.1x12.2x0.4x
Wed, 12 Mar 2025US$98.9bUS$188.0bUS$5.9b11.8x16.7x0.5x
Fri, 07 Feb 2025US$128.9bUS$199.9bUS$6.7b13.6x19.3x0.6x
Sun, 05 Jan 2025US$120.0bUS$196.2bUS$7.0b11.4x17.2x0.6x
Tue, 03 Dec 2024US$120.3bUS$196.5bUS$7.0b11.6x17.2x0.6x
Thu, 31 Oct 2024US$104.2bUS$183.5bUS$6.4b11.5x16.2x0.6x
Sat, 28 Sep 2024US$92.5bUS$182.6bUS$6.4b11.9x14.4x0.5x
Mon, 26 Aug 2024US$77.1bUS$182.6bUS$6.4b10.6x12x0.4x
Wed, 24 Jul 2024US$82.7bUS$182.8bUS$6.8b12.3x12.2x0.5x
Fri, 21 Jun 2024US$87.1bUS$180.8bUS$7.1b12.5x12.3x0.5x
Sun, 19 May 2024US$91.7bUS$180.8bUS$7.1b12.2x13x0.5x
Tue, 16 Apr 2024US$83.9bUS$191.4bUS$7.9b9.5x10.7x0.4x
Thu, 14 Mar 2024US$82.8bUS$190.8bUS$7.3b10.2x11.3x0.4x
Sat, 10 Feb 2024US$84.2bUS$190.8bUS$7.3b11.2x11.6x0.4x
Mon, 08 Jan 2024US$84.3bUS$190.8bUS$6.0b10.5x14x0.4x
Wed, 06 Dec 2023US$77.9bUS$190.7bUS$6.1b9.6x12.8x0.4x
Fri, 03 Nov 2023US$63.1bUS$189.1bUS$6.8b9.9x9.3x0.3x
Sun, 01 Oct 2023US$75.8bUS$186.0bUS$6.5b10.8x11.6x0.4x
Tue, 29 Aug 2023US$85.5bUS$186.2bUS$6.5b11.4x13.1x0.5x
Thu, 27 Jul 2023US$98.9bUS$187.4bUS$6.0b23.1x16.5x0.5x
Sat, 24 Jun 2023US$92.3bUS$183.2bUS$4.0b21.5x23.1x0.5x
Mon, 22 May 2023US$80.1bUS$171.6bUS$3.2b21.8x25.1x0.5x
Wed, 19 Apr 2023US$79.0bUS$164.3bUS$1.5b19.2x52.8x0.5x
Fri, 17 Mar 2023US$75.9bUS$160.9bUS$972.1m19.3x78.1x0.5x
Sun, 12 Feb 2023US$86.0bUS$160.5bUS$1.3b20.1x66.5x0.5x
Price to Earnings Ratio

66.5x


Total Market Cap: US$86.0bTotal Earnings: US$1.3bTotal Revenue: US$160.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 19.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Airlines industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 19.6x.
  • 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 76% per year over the last three years.
  • Revenues for these companies have grown 9.3% 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-1.35%
Industrials1.84%
Airlines6.67%
Airlines6.67%
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$52.5928.7%
+US$6.1b		70.2%PE61.7x
DAL Delta Air LinesUS$70.867.6%
+US$3.3b		2.6%PE9.2x
UAL United Airlines HoldingsUS$109.484.4%
+US$1.5b		1.5%PE10.6x
AAL American Airlines GroupUS$14.437.4%
+US$653.7m		-14.9%PE85.8x
CPA Copa HoldingsUS$146.788.0%
+US$449.1m		59.6%PE9.1x

Latest News

JBLU
US$5.96
JetBlue Airways
7D
18.3%
1Y
-2.6%
LUV
US$52.59
Southwest Airlines
7D
28.7%
1Y
70.2%
UAL
US$109.48
United Airlines Holdings
7D
4.4%
1Y
1.5%

UAL: Q4 Setup And 2026 Demand Momentum Will Drive Upside Potential

Analysts have raised their fair value estimate for United Airlines Holdings to $138.77 from $125.26, reflecting updated assumptions for revenue growth, profit margins, and a lower future P/E multiple in light of a series of recent price target increases across the Street, along with one reduction. Analyst Commentary Recent Street research on United Airlines Holdings has skewed positive, with a cluster of higher price targets and one reduction.
ALGT
US$99.86
Allegiant Travel
7D
15.1%
1Y
19.0%

ALGT: Higher Multiple Assumptions Will Face Demand And Labor Uncertainty

Analysts have raised their price target for Allegiant Travel from US$55 to US$85, citing a higher assumed future P/E multiple and recent upgrades across the airline group that reflect expectations for steadier demand, disciplined capacity plans, and potential cost benefits from newer aircraft. Analyst Commentary Recent Street research around Allegiant Travel has leaned more constructive overall, with several firms lifting price targets and resetting ratings as they refresh airline coverage for upcoming earnings seasons.
DAL
US$70.86
Delta Air Lines
7D
7.6%
1Y
2.6%

DAL: Premium Demand And 2026 Guidance Will Support Measured Upside Ahead

Analysts have lifted their average fair value estimate for Delta Air Lines by about US$7 to roughly US$82. This reflects updated assumptions for slightly stronger revenue growth, modestly higher profit margins and a steady forward P/E multiple, informed by recent Street research that includes several higher price targets alongside a few trims.
FLYX
US$2.65
flyExclusive
7D
-18.5%
1Y
-17.2%

Fleet Modernization And Expanding MRO Platform Will Reshape This Private Aviation Business

Catalysts About flyExclusive flyExclusive operates a vertically integrated private aviation platform focused on charter, membership, fractional ownership and maintenance services. What are the underlying business or industry changes driving this perspective?
AAL
US$14.43
American Airlines Group
7D
7.4%
1Y
-14.9%
JOBY
US$10.38
Joby Aviation
7D
-22.4%
1Y
28.9%
UP
US$0.59
Wheels Up Experience
7D
-14.5%
1Y
-59.2%
JTAI
US$0.15
Jet.AI
7D
-39.5%
1Y
-93.4%

Risks Still Elevated At These Prices As Jet.AI Inc. (NASDAQ:JTAI) Shares Dive 60%

Jan 27
Risks Still Elevated At These Prices As Jet.AI Inc. (NASDAQ:JTAI) Shares Dive 60%
CPA
US$146.78
Copa Holdings
7D
8.0%
1Y
59.6%

CPA: Fair Outlook As Capacity Plans And Margins Support Measured Upside

Analysts have lifted their price target for Copa Holdings from US$118 to US$126. They point to updated assumptions around revenue growth, profit margins and the stock's future P/E multiple as key drivers of the change.
ALK
US$56.14
Alaska Air Group
7D
7.2%
1Y
-25.1%

ALK: Late 2025 Demand And Route Expansion Will Shape Bullish Outlook

Analysts have raised their price target on Alaska Air Group to US$60 from about US$51.37, citing expectations for stronger demand in late 2025, a constructive airline setup into 2026, and more supportive assumptions on revenue growth and future P/E, even with more conservative profit margin inputs. Analyst Commentary Recent research on Alaska Air Group has clustered around higher price targets in the US$65 to US$70 range, with several firms updating their views as part of Q4 earnings previews and broader airline sector outlooks.
AERO
US$19.11
Grupo Aeroméxico. de
7D
-10.0%
1Y
n/a

Aeroméxico: This Airline Stock Can Fly Higher

Jan 12
SOAR
US$0.47
Volato Group
7D
-18.1%
1Y
-89.4%
SRFM
US$2.10
Surf Air Mobility
7D
-3.7%
1Y
-49.3%