Does SkyWest's Lower Valuation Indicate a Buying Opportunity?

SkyWest, Inc. (SKYW) is trading at a valuation discount based on its trailing 12-month price-to-book (P/B) ratio. The stock’s P/B-TTM stands at 1.46X, versus 2.85X for the industry over the past five years, and the company is assigned a Value Score of A by Zacks Investment Research. The article points to contracting tailwinds: during the first six months of 2026, revenues from flying agreements—96.5% of top-line—rose 7.2% year over year, while departures increased 1.7%. SkyWest also signed a deal to buy and operate 11 new Embraer E175 aircraft for American Airlines under a multi-year contract, with deliveries starting in 2026-2027, and expects nearly 300 E175s by late 2027.