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U.S. Airlines Industry Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies17
  • 7D-1.5%
  • 3M-6.1%
  • 1Y2.1%
  • YTD0.8%

Over the last 7 days, the Airlines industry has dropped 1.5%, driven by Joby Aviation declining 8.6%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Nov 2025US$122.5bUS$206.1bUS$6.6b9.3x18.6x0.6x
Thu, 16 Oct 2025US$127.1bUS$205.4bUS$7.2b10.1x17.6x0.6x
Sat, 13 Sep 2025US$125.0bUS$204.5bUS$7.1b10.5x17.7x0.6x
Mon, 11 Aug 2025US$113.1bUS$204.6bUS$7.1b9.2x15.9x0.6x
Wed, 09 Jul 2025US$107.3bUS$209.5bUS$6.6b11.9x16.2x0.5x
Fri, 06 Jun 2025US$103.4bUS$209.1bUS$6.6b11.2x15.6x0.5x
Sun, 04 May 2025US$93.9bUS$204.6bUS$7.3b10.5x12.9x0.5x
Tue, 01 Apr 2025US$95.2bUS$201.0bUS$6.7b10.9x14.2x0.5x
Thu, 27 Feb 2025US$117.9bUS$205.9bUS$6.0b12.6x19.7x0.6x
Sat, 25 Jan 2025US$127.6bUS$199.8bUS$6.2b12.5x20.4x0.6x
Mon, 23 Dec 2024US$120.0bUS$196.4bUS$7.0b11.6x17.2x0.6x
Wed, 20 Nov 2024US$115.2bUS$191.5bUS$7.9b11.2x14.7x0.6x
Fri, 18 Oct 2024US$102.3bUS$183.1bUS$6.4b12x15.9x0.6x
Sun, 15 Sep 2024US$83.6bUS$182.6bUS$6.4b11.5x13.1x0.5x
Tue, 13 Aug 2024US$73.5bUS$182.9bUS$6.4b9.9x11.6x0.4x
Thu, 11 Jul 2024US$83.2bUS$180.8bUS$7.1b12x11.8x0.5x
Sat, 08 Jun 2024US$88.5bUS$180.8bUS$7.0b12x12.6x0.5x
Mon, 06 May 2024US$90.3bUS$195.1bUS$7.3b8.9x12.3x0.5x
Wed, 03 Apr 2024US$89.0bUS$190.6bUS$7.5b10.5x11.9x0.5x
Fri, 01 Mar 2024US$86.5bUS$190.9bUS$7.2b11.1x12x0.5x
Sun, 28 Jan 2024US$81.6bUS$193.5bUS$7.1b10.2x11.6x0.4x
Tue, 26 Dec 2023US$85.4bUS$190.8bUS$6.0b10.8x14.2x0.4x
Thu, 23 Nov 2023US$74.2bUS$190.7bUS$6.1b9.7x12.3x0.4x
Sat, 21 Oct 2023US$66.5bUS$189.1bUS$7.2b10.1x9.2x0.4x
Mon, 18 Sep 2023US$81.1bUS$186.1bUS$6.5b10.6x12.4x0.4x
Wed, 16 Aug 2023US$89.6bUS$186.3bUS$6.5b12.2x13.7x0.5x
Fri, 14 Jul 2023US$103.5bUS$185.2bUS$5.1b24.5x20.2x0.6x
Sun, 11 Jun 2023US$87.1bUS$171.6bUS$3.2b24.3x27.3x0.5x
Tue, 09 May 2023US$77.7bUS$171.2bUS$3.1b22.2x25x0.5x
Thu, 06 Apr 2023US$76.3bUS$160.9bUS$972.1m18.7x78.5x0.5x
Sat, 04 Mar 2023US$88.0bUS$160.9bUS$1.2b21.2x73.8x0.5x
Mon, 30 Jan 2023US$87.6bUS$159.5bUS$1.3b18.8x65.7x0.5x
Wed, 28 Dec 2022US$74.7bUS$149.1b-US$1,153,426,000.0016.5x-64.8x0.5x
Fri, 25 Nov 2022US$84.1bUS$149.1b-US$1,153,426,000.0019.7x-72.9x0.6x
Price to Earnings Ratio

-72.9x


Total Market Cap: US$84.1bTotal Earnings: -US$1,153,426,000.00Total Revenue: US$149.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average -4.1x202320242025
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 18.6x which is higher than its 3-year average PE of -4.2x.
  • 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 11% 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-0.39%
Industrials-1.57%
Airlines-1.48%
Airlines-1.48%
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$32.820.5%
+US$82.7m		1.5%PE44.8x
ULCC Frontier Group HoldingsUS$3.922.9%
+US$25.2m		-29.4%PS0.2x
SNCY Sun Country Airlines HoldingsUS$12.380.6%
+US$3.7m		-15.3%PE11.2x
FLYX flyExclusiveUS$3.17-0.3%
US$1.6m		44.1%PS0.2x
MESA Mesa Air GroupUS$1.601.3%
+US$837.6k		88.2%PS0.2x

Latest News

DAL
US$58.41
Delta Air Lines
7D
-0.3%
1Y
-7.6%

DAL: Ongoing Industry Changes Will Drive Sustained Margin Expansion Into 2026

Delta Air Lines' average analyst price target has been raised, with several firms increasing their targets by $2 to $13 per share. Analysts point to strong Q3 results, positive guidance, and structural industry advantages that support further upside.
UAL
US$95.03
United Airlines Holdings
7D
-1.2%
1Y
5.1%

UAL: Margin Expansion Initiatives Will Drive Performance Amid Air Travel Disruptions

United Airlines Holdings’ analyst price target has increased significantly, with recent updates raising it by as much as $41 to $156. Analysts cite robust earnings prospects, margin expansion initiatives, and stronger demand trends as key drivers for the upward revisions.
MESA
US$1.60
Mesa Air Group
7D
1.3%
1Y
88.2%
UP
US$1.08
Wheels Up Experience
7D
-15.6%
1Y
-48.3%
ALK
US$41.67
Alaska Air Group
7D
-1.6%
1Y
-21.1%
SRFM
US$2.63
Surf Air Mobility
7D
-16.2%
1Y
46.9%
FLYX
US$3.17
flyExclusive
7D
-0.3%
1Y
44.1%
AERO
US$17.08
Grupo Aeroméxico. de
7D
-7.7%
1Y
n/a
JBLU
US$4.19
JetBlue Airways
7D
-5.0%
1Y
-34.4%
LUV
US$32.82
Southwest Airlines
7D
0.5%
1Y
1.5%

LUV: Evolving Industry Dynamics Will Shape Margins And Global Partnership Outcomes

Southwest Airlines' analyst price target has been raised from $33.76 to $34.07 as analysts cite evolving industry dynamics and projected improvements in technology-driven merchandising platforms, which support a cautiously optimistic outlook for the stock. Analyst Commentary Recent commentary from analysts reflects both optimism and caution regarding Southwest Airlines' near-term prospects and long-term positioning in a changing U.S. airline landscape.
AAL
US$12.76
American Airlines Group
7D
-4.1%
1Y
-10.7%

AAL: Industry Shifts And Expense Pressures Will Shape Fair Value Outlook

American Airlines Group's analyst price target has increased from $14.55 to $15.02. This reflects moderate optimism among analysts amid encouraging industry trends and updated financial estimates.
ULCC
US$3.92
Frontier Group Holdings
7D
2.9%
1Y
-29.4%
JOBY
US$14.41
Joby Aviation
7D
-8.6%
1Y
156.9%
SNCY
US$12.38
Sun Country Airlines Holdings
7D
0.6%
1Y
-15.3%

Sun Country Airlines Holdings' (NASDAQ:SNCY) Strong Earnings Are Of Good Quality

Nov 06
Sun Country Airlines Holdings' (NASDAQ:SNCY) Strong Earnings Are Of Good Quality