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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Delta Air Lines | United States of America | Airlines | $57 | $54.5B | 0.9x | 6.2x |
| United Airlines | United States of America | Airlines | $92 | $47.8B | 0.8x | 5.9x |
| Air China | China | Airlines | CNY 8 | $46.9B | 2.0x | 10.5x |
| China Southern Airlines | China | Airlines | CNY 7 | $43.8B | 1.8x | 9.3x |
| China Eastern Airlines | China | Airlines | CNY 5 | $38.8B | 2.0x | 9.5x |
| American Airlines | United States of America | Airlines | $12 | $37.4B | 0.7x | 9.5x |
| Ryanair | Ireland | Airlines | €26 | $30.4B | 1.8x | 7.8x |
| IAG | United Kingdom of Great Britain and Northern Ireland | Airlines | £4 | $29.3B | 0.8x | 3.4x |
| IndiGo | India | Airlines | INR 5740 | $27.4B | 2.8x | 11.8x |
| Hainan Airlines | China | Airlines | CNY 2 | $23.7B | N/A | N/A |
| Southwest Airlines | United States of America | Airlines | $32 | $18.8B | 0.7x | 8.6x |
| Singapore Airlines | Singapore | Airlines | SGD 6 | $18.5B | 1.2x | 5.9x |
| LATAM Airlines | Chile | Airlines | CLP 21 | $18.0B | 1.3x | 4.8x |
| Turkish Airlines | Turkey | Airlines | TRY 267 | $17.8B | 0.8x | 4.5x |
| Cathay Pacific Airways | Hong Kong | Airlines | HKD 12 | $17.1B | 1.2x | 5.3x |
| Lufthansa | Germany | Airlines | €8 | $16.5B | 0.4x | 3.3x |
| Korean Air | South Korea | Airlines | KRW 21257 | $15.0B | 0.9x | 5.3x |
| Qantas Airways | Australia | Airlines | AUD 10 | $13.1B | 0.8x | 4.2x |
| Air France | France | Airlines | €9 | $10.9B | 0.3x | 2.0x |
| ANA Holdings | Japan | Airlines | JPY 2905 | $10.1B | 0.7x | 4.4x |
| Spring Airlines | China | Airlines | CNY 55 | $9.1B | 3.1x | 11.2x |
| Juneyao Airlines | China | Airlines | CNY 14 | $8.8B | 2.8x | 12.7x |
| Alaska Air | United States of America | Airlines | $39 | $8.7B | 0.6x | 6.2x |
| JetBlue Airways | United States of America | Airlines | $4 | $8.3B | 0.9x | 21.7x |
| Air Canada | Canada | Airlines | CAD 18 | $7.8B | 0.5x | 3.6x |
| Japan Airlines | Japan | Airlines | JPY 2877 | $7.7B | 0.6x | 3.4x |
| Wizz Air | United Kingdom of Great Britain and Northern Ireland | Airlines | £11 | $7.1B | 1.1x | 5.1x |
| Azul | Brazil | Airlines | BRL 1 | $6.3B | 1.5x | 5.1x |
| Copa Airlines | United States of America | Airlines | $123 | $6.1B | 1.7x | 5.2x |
| Pegasus Airlines | Turkey | Airlines | TRY 203 | $6.0B | 1.8x | 6.3x |
| Eva Airways | Taiwan | Airlines | TWD 33 | $5.8B | 0.8x | 2.8x |
| VietJet Air | Viet Nam | Airlines | VND 179000 | $5.7B | 1.9x | 22.1x |
| Gol Linhas Aereas | Brazil | Airlines | BRL 5 | $5.5B | 1.3x | 6.6x |
| SkyWest | United States of America | Airlines | $94 | $5.5B | 1.4x | 5.6x |
| China Airlines | Taiwan | Airlines | TWD 19 | $5.4B | 0.8x | 3.5x |
| Frontier Airlines | United States of America | Airlines | $4 | $5.3B | 1.4x | -78.7x |
| Air Arabia | United Arab Emirates | Airlines | AED 4 | $4.2B | 2.1x | 7.6x |
| Garuda Indonesia | Indonesia | Airlines | IDR 31 | $4.2B | N/A | N/A |
| easyJet | United Kingdom of Great Britain and Northern Ireland | Airlines | £5 | $4.1B | 0.3x | 2.1x |
| Grupo Aeromexico | Mexico | Airlines | MXN 167 | $3.9B | N/A | N/A |
| Volaris | Mexico | Airlines | MXN 12 | $3.8B | 1.2x | 4.6x |
| STARLUX Airlines | Taiwan | Airlines | TWD 23 | $3.5B | 3.0x | N/A |
| Air New Zealand | New Zealand | Airlines | NZD 1 | $3.1B | 0.8x | 6.4x |
| Vietnam Airlines | Viet Nam | Airlines | VND 29500 | $3.1B | 0.7x | 5.2x |
| Cebu Air | Philippines | Airlines | PHP 30 | $3.0B | 1.5x | 5.7x |
| Pal Holdings | Philippines | Airlines | PHP 4 | $2.7B | N/A | N/A |
| Norwegian | Norway | Airlines | NOK 15 | $2.4B | 0.6x | 3.0x |
| Allegiant Travel | United States of America | Airlines | $64 | $2.3B | 0.9x | 6.1x |
| Virgin Australia Holdings | Australia | Airlines | AUD 3 | $2.3B | 0.6x | 3.1x |
| PIA Holding Company | Pakistan | Airlines | PKR 37 | $2.1B | N/A | N/A |
| Aegean Airlines | Greece | Airlines | €13 | $2.0B | 0.9x | 4.0x |
| El AL Israel Airlines | Israel | Airlines | ILS 14 | $1.9B | N/A | N/A |
| Kenya Airways | Kenya | Airlines | KES 4 | $1.7B | N/A | N/A |
| Asia Aviation | Thailand | Airlines | THB 1 | $1.6B | 1.2x | 6.9x |
| Jazeera Airways | Kuwait | Airlines | KWD 2 | $1.6B | 2.3x | 9.6x |
| Finnair | Finland | Airlines | €3 | $1.5B | 0.4x | 3.2x |
| Bangkok Airways | Thailand | Airlines | THB 14 | $1.4B | 1.9x | 7.8x |
| Capital A | Malaysia | Airlines | MYR 1 | $1.2B | 0.2x | 1.2x |
| Sun Country Airlines | United States of America | Airlines | $12 | $1.0B | 0.9x | 5.0x |
| Spicejet | India | Airlines | INR 37 | $1.0B | 1.6x | 15.0x |
| Norse Atlantic Airways | Norway | Airlines | NOK 7 | $929M | N/A | N/A |
| Tigerair Taiwan | Taiwan | Airlines | TWD 68 | $922M | 1.7x | N/A |
| Jeju Air | South Korea | Airlines | KRW 5310 | $851M | 0.8x | 11.5x |
| Croatia Airlines | Croatia | Airlines | €4 | $724M | N/A | N/A |
| Enter Air | Poland | Airlines | PLN 52 | $707M | 0.9x | 4.4x |
| T'way Air | South Korea | Airlines | KRW 1612 | $540M | 0.5x | 7.5x |
| AirAsia X | Malaysia | Airlines | MYR 2 | $497M | 0.6x | 3.8x |
| Air Busan | South Korea | Airlines | KRW 1696 | $494M | 0.7x | N/A |
| Alliance Aviation Servs | Australia | Airlines | AUD 1 | $391M | 0.8x | 3.0x |
| flyExclusive | United States of America | Airlines | $3 | $362M | 1.1x | -7.0x |
| Surf Air | United States of America | Airlines, Urban Air Mobility | $2 | $225M | 2.1x | -5.4x |
| Air T | United States of America | Logistics & Air Freight, Airlines, Aircraft & Space Systems, Leasing & Rental Services | $21 | $174M | N/A | N/A |
| Mesa Airlines | United States of America | Airlines | $2 | $146M | N/A | N/A |
| Jin Air | South Korea | Airlines | KRW 6570 | $125M | 0.1x | 1.2x |
Valuation multiples as of last 12 months (LTM). Stock prices as of November 19, 2025. Financial data powered by Morningstar and FactSet.
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