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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Delta Air Lines | United States of America | Airlines | $71 | $63.6B | 1.1x | 7.4x |
| United Airlines | United States of America | Airlines | $114 | $54.9B | 0.9x | 6.8x |
| Air China | China | Airlines | CNY 8 | $48.1B | 2.0x | 10.7x |
| China Southern Airlines | China | Airlines | CNY 7 | $45.2B | 1.8x | 10.1x |
| China Eastern Airlines | China | Airlines | CNY 6 | $40.6B | 2.0x | 9.6x |
| American Airlines | United States of America | Airlines | $16 | $39.6B | 0.7x | 10.5x |
| Ryanair | Ireland | Airlines | €29 | $34.7B | 2.0x | 8.5x |
| IAG | United Kingdom of Great Britain and Northern Ireland | Airlines | £4 | $32.1B | 0.8x | 3.6x |
| IndiGo | India | Airlines | INR 5154 | $24.3B | 2.6x | 11.3x |
| Southwest Airlines | United States of America | Airlines | $41 | $23.6B | 0.8x | 11.0x |
| Hainan Airlines | China | Airlines | CNY 2 | $23.4B | N/A | N/A |
| LATAM Airlines | Chile | Airlines | CLP 25 | $21.2B | 1.5x | 5.4x |
| Singapore Airlines | Singapore | Airlines | SGD 6 | $18.3B | 1.2x | 5.8x |
| Lufthansa | Germany | Airlines | €9 | $18.0B | 0.4x | 3.6x |
| Turkish Airlines | Turkey | Airlines | TRY 277 | $18.0B | 0.8x | 4.5x |
| Cathay Pacific Airways | Hong Kong | Airlines | HKD 12 | $17.2B | 1.2x | 5.1x |
| Korean Air | South Korea | Airlines | KRW 22606 | $15.8B | 0.9x | 5.9x |
| Gol Linhas Aereas | Brazil | Airlines | BRL 6 | $14.5B | 3.5x | 16.2x |
| Qantas Airways | Australia | Airlines | AUD 10 | $14.0B | 0.9x | 4.3x |
| Air France | France | Airlines | €12 | $11.8B | 0.3x | 2.1x |
| ANA Holdings | Japan | Airlines | JPY 3050 | $10.4B | 0.7x | 4.5x |
| Alaska Air | United States of America | Airlines | $52 | $10.2B | 0.7x | 7.4x |
| Spring Airlines | China | Airlines | CNY 56 | $9.3B | 3.1x | 11.5x |
| Juneyao Airlines | China | Airlines | CNY 14 | $8.8B | 2.8x | 13.5x |
| JetBlue Airways | United States of America | Airlines | $5 | $8.5B | 0.9x | 25.1x |
| Air Canada | Canada | Airlines | CAD 19 | $8.3B | 0.5x | 3.8x |
| Japan Airlines | Japan | Airlines | JPY 2950 | $7.8B | 0.6x | 3.4x |
| Wizz Air | United Kingdom of Great Britain and Northern Ireland | Airlines | £13 | $7.4B | 1.1x | 5.2x |
| Copa Airlines | United States of America | Airlines | $124 | $6.3B | 1.7x | 5.3x |
| Eva Airways | Taiwan | Airlines | TWD 36 | $6.2B | 0.9x | 3.1x |
| VietJet Air | Viet Nam | Airlines | VND 199900 | $6.2B | 2.2x | 24.7x |
| Pegasus Airlines | Turkey | Airlines | TRY 214 | $6.2B | 1.8x | 6.3x |
| Azul | Brazil | Airlines | BRL 1 | $6.1B | 1.5x | 5.0x |
| SkyWest | United States of America | Airlines | $104 | $5.9B | 1.5x | 6.0x |
| Frontier Airlines | United States of America | Airlines | $5 | $5.6B | 1.5x | -63.6x |
| China Airlines | Taiwan | Airlines | TWD 20 | $5.5B | 0.8x | 3.6x |
| Air Arabia | United Arab Emirates | Airlines | AED 5 | $5.3B | 2.7x | 9.5x |
| easyJet | United Kingdom of Great Britain and Northern Ireland | Airlines | £5 | $4.3B | 0.3x | 2.2x |
| Volaris | Mexico | Airlines | MXN 17 | $4.2B | 1.3x | 5.0x |
| Garuda Indonesia | Indonesia | Airlines | IDR 6 | $4.2B | N/A | N/A |
| STARLUX Airlines | Taiwan | Airlines | TWD 23 | $3.5B | 3.1x | N/A |
| Cebu Air | Philippines | Airlines | PHP 32 | $3.0B | 1.5x | 5.7x |
| Air New Zealand | New Zealand | Airlines | NZD 1 | $3.0B | 0.8x | 6.1x |
| Allegiant Travel | United States of America | Airlines | $85 | $2.7B | 1.1x | 7.0x |
| Pal Holdings | Philippines | Airlines | PHP 4 | $2.7B | N/A | N/A |
| Vietnam Airlines | Viet Nam | Airlines | VND 25700 | $2.7B | 0.6x | 4.6x |
| Norwegian | Norway | Airlines | NOK 17 | $2.6B | 0.7x | 3.3x |
| Virgin Australia Holdings | Australia | Airlines | AUD 3 | $2.5B | 0.6x | 3.3x |
| El AL Israel Airlines | Israel | Airlines | ILS 17 | $2.4B | N/A | N/A |
| PIA Holding Company | Pakistan | Airlines | PKR 51 | $2.4B | N/A | N/A |
| Aegean Airlines | Greece | Airlines | €14 | $2.1B | 1.0x | 4.2x |
| Republic Airways Holdings | United States of America | Airlines | $20 | $1.8B | N/A | N/A |
| Asia Aviation | Thailand | Airlines | THB 1 | $1.8B | 1.2x | 7.5x |
| Finnair | Finland | Airlines | €3 | $1.7B | 0.5x | 3.5x |
| Kenya Airways | Kenya | Airlines | KES 3 | $1.6B | N/A | N/A |
| Jazeera Airways | Kuwait | Airlines | KWD 2 | $1.6B | 2.2x | 9.3x |
| Bangkok Airways | Thailand | Airlines | THB 15 | $1.5B | 2.0x | 8.4x |
| Sun Country Airlines | United States of America | Airlines | $15 | $1.2B | 1.0x | 5.7x |
| Norse Atlantic Airways | Norway | Airlines | NOK 7 | $944M | N/A | N/A |
| Tigerair Taiwan | Taiwan | Airlines | TWD 67 | $906M | 1.7x | N/A |
| Spicejet | India | Airlines | INR 30 | $872M | 1.4x | 9.4x |
| Jeju Air | South Korea | Airlines | KRW 5290 | $851M | 0.8x | 38.0x |
| Enter Air | Poland | Airlines | PLN 56 | $775M | 0.9x | 5.5x |
| Croatia Airlines | Croatia | Airlines | €4 | $735M | N/A | N/A |
| Capital A | Malaysia | Airlines | MYR 0 | $688M | 0.1x | 0.7x |
| Air Busan | South Korea | Airlines | KRW 1744 | $529M | 1.0x | N/A |
| AirAsia X | Malaysia | Airlines | MYR 2 | $498M | 0.6x | 5.0x |
| T'way Air | South Korea | Airlines | KRW 1424 | $480M | 0.4x | 13.8x |
| Alliance Aviation Servs | Australia | Airlines | AUD 1 | $412M | 0.8x | 3.0x |
| flyExclusive | United States of America | Airlines | $3 | $361M | 1.1x | -7.0x |
| Surf Air | United States of America | Airlines, Urban Air Mobility | $2 | $193M | 1.8x | -4.6x |
| Air T | United States of America | Logistics & Air Freight, Airlines, Aircraft & Space Systems, Leasing & Rental Services | $19 | $170M | N/A | N/A |
| Jin Air | South Korea | Airlines | KRW 6950 | $122M | 0.1x | 1.7x |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 22, 2025. Financial data powered by Morningstar and FactSet.
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