When booking your next flight, you're often faced with a choice: use your hard-earned frequent flyer miles or pay for a cash ticket. Deciding which offers the best value doesn't require a math degree, just a simple formula to calculate the value. The Value Formula

CPP=(Cash Price−Award Fees)Miles Required×100CPP equals the fraction with numerator open paren Cash Price minus Award Fees close paren and denominator Miles Required end-fraction cross 100 Benchmarks: Is it a Good Deal?

: Multiply the result by 100 to get your CPP value.

: Start with the cash price of the flight and subtract any taxes or fees you'd still have to pay if you used miles.

: Divide that remaining dollar amount by the total number of miles required for the flight.

Below are average April 2026 valuations for major airlines to use as a baseline: Airline Miles vs. Cash Calculator - NerdWallet

To determine if a redemption is a "good deal," follow this basic calculation:

To Use Miles or Buy a Ticket: Your Ultimate Value Calculator Guide