United Airlines Holdings, Inc. UAL SPX

Industrials · Airlines · United States

https://www.united.com

United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in the United States, Canada, Atlantic, the Pacific, and Latin America. It transports people and cargo through its mainline and regional fleets. The company also offers ground handling, flight academy, frequent flyer award non-travel redemptions, and maintenance services for third parties. In addition, it provides freight and mail transportation services to commercial businesses, freight forwarders, logistics firms, and national postal services, as well as loyalty programs. The company distributes its products through direct channels, such as the Company's website and the Company's mobile app; and traditional travel agencies, online travel agencies, and other intermediaries. The company was formerly known as United Continental Holdings, Inc. and changed its name to United Airlines Holdings, Inc. in June 2019. United Airlines Holdings, Inc. was incorporated in 1968 and is based in Chicago, Illinois.

Market & Price

Market Cap

$37.26B

Current Price

$114.80

High / Low (52W)

$117.53 / $73.67

Beta

1.21

Valuation

Stock P/E

10.27

Industry PE

28.38

Forward P/E

8.07

PEG Ratio

6.50

Book Value

$48.91

Price to Book

2.35

P/S

0.62

EV/EBITDA

6.86

Dividend Yield

Profitability & Returns

ROCE

10.88%

ROE

25.73%

ROA

4.14%

Profit Margin

6.06%

Op Margin

4.35%

EPS (Latest Qtr)

$2.14

EPS (TTM)

$11.18

Balance Sheet & Liquidity

Debt/Equity

1.95

Quick Ratio

0.61

Current Ratio

0.70

Debt

$30.97B

Total Assets

$76.45B

Current Assets

$16.86B

Working Capital

$-9.28B

Ownership

Promoter Holding

0.63%

Chg in Prom Hold

FII / Inst Holding

89.78%

Chg in FII Hold

0.00%

Financial Snapshot

Enterprise Value

$54.06B

Total Revenue (TTM)

$60.47B

EBITDA

$7.89B

Free Cash Flow

$1.65B

Operating Cash Flow

$9.52B

Shares Outstanding

324.57M

Gross Margin

33.79%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

9.53%

Profit 5Y

65.70%

Revenue (YoY)

10.60%

Earnings (YoY)

84.50%

PROS

Strong return on equity of 25.7%.
Profit CAGR of 65.7% over 5 years.
Generates positive free cash flow.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	UAL United Airlines Holdings, Inc. SPX	114.80	10.27	$37.26B	-	10.88%	25.73%	9.53%	65.70%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	8.43B	10.01B	9.90B	9.45B	9.03B	10.78B	11.00B	10.49B	9.59B	11.40B	11.38B	10.89B	7.98B	1.48B	2.49B	3.41B	3.22B	5.47B	7.75B	7.57B	12.11B	12.88B	11.43B	14.18B	14.48B	12.54B	14.99B	-	-	13.21B	15.24B	15.22B	15.40B	14.61B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.89B	10.49B	10.80B	10.89B	10.94B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.32B	4.75B	4.42B	4.51B	3.67B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.82B	2.97B	3.10B	3.13B	3.06B
Operating Income	1.90B	1.08B	649.00M	1.06B	1.62B	1.00B	320.00M	1.44B	1.14B	776.00M	262.00M	1.15B	1.19B	635.00M	495.00M	1.47B	1.47B	861.00M	-972.00M	-1.64B	-1.61B	-2.13B	-1.38B	-270.00M	1.04B	-1.38B	878.00M	1.46B	-43.00M	1.52B	1.74B	99.00M	1.93B	-	-	502.00M	1.77B	1.32B	1.38B	608.00M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	786.00M	1.56B	1.53B	1.60B	1.14B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	308.00M	310.00M	278.00M	271.00M	273.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	478.00M	1.25B	1.25B	1.32B	870.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	91.00M	275.00M	306.00M	281.00M	172.00M
Net Income	4.82B	823.00M	313.00M	588.00M	965.00M	397.00M	99.00M	821.00M	645.00M	579.00M	145.00M	683.00M	833.00M	461.00M	292.00M	1.05B	1.02B	641.00M	-1.70B	-1.63B	-1.84B	-1.90B	-1.36B	-434.00M	473.00M	-1.38B	329.00M	942.00M	-194.00M	1.07B	1.14B	-124.00M	1.32B	-	-	387.00M	973.00M	949.00M	1.04B	699.00M
Diluted EPS	12.82	2.24	0.88	1.78	3.01	1.26	0.32	2.67	2.15	1.98	0.51	2.48	3.05	1.69	1.09	4.02	3.99	2.53	-	-5.79	-6.33	-	-4.29	-1.34	1.44	-4.24	1.00	2.86	-0.59	3.24	3.42	-0.38	3.96	-	-	1.16	2.97	2.90	3.19	2.14

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	36.56B	37.78B	41.30B	43.26B	15.36B	-	44.95B	53.72B	57.06B	59.07B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34.31B	38.52B	40.57B	42.07B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.64B	15.20B	16.49B	17.00B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.16B	10.04B	11.28B	12.03B
Operating Income	-4.44B	-161.00M	976.00M	1.82B	39.00M	1.25B	2.37B	5.17B	4.34B	3.62B	3.23B	4.30B	-6.36B	-	2.48B	5.16B	5.21B	4.97B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.12B	7.83B	8.50B	8.41B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.67B	1.77B	1.40B	1.17B
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	990.00M	3.39B	4.17B	4.31B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	253.00M	769.00M	1.02B	953.00M
Net Income	-5.40B	-651.00M	253.00M	840.00M	-723.00M	571.00M	1.13B	7.34B	2.23B	2.14B	2.12B	3.01B	-7.07B	-	737.00M	2.62B	3.15B	3.35B
Diluted EPS	-42.59	-4.32	1.08	2.26	-2.18	1.53	2.93	19.47	6.76	7.06	7.67	11.58	-25.30	-	2.23	7.89	9.45	10.20

Compounded Sales Growth

5 Years:	9.53%
1 Year:	10.60%

Compounded Profit Growth

5 Years:	65.70%
1 Year:	84.50%

Stock Price Performance

1 Year:	+44.51%
6 Months:	+16.07%
3 Months:	+8.00%
1 Month:	+29.54%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	18.68B	39.60B	37.99B	37.63B	36.81B	36.59B	40.86B	40.14B	42.35B	49.02B	52.61B	59.55B	-	67.36B	71.10B	74.08B	76.45B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20.06B	18.49B	18.88B	16.86B
Cash & Equivalents	1.26B	2.04B	3.04B	8.07B	6.25B	4.77B	3.22B	2.00B	3.01B	2.18B	1.48B	1.69B	2.76B	11.27B	-	7.17B	6.06B	8.77B	5.94B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.11B	1.56B	1.57B	1.56B
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.80B	1.90B	2.16B	2.39B
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60.46B	61.78B	61.41B	61.17B
Current Liabilities	-	-	6.47B	12.64B	11.39B	12.82B	12.11B	12.51B	12.41B	12.29B	12.76B	13.84B	14.94B	12.72B	-	19.99B	22.20B	23.31B	26.13B
Long Term Debt	-	-	6.38B	11.43B	10.50B	10.44B	10.17B	9.95B	9.67B	9.92B	11.70B	12.21B	13.14B	24.84B	-	28.28B	27.41B	25.20B	20.56B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36.43B	36.74B	33.63B	31.04B
Total Equity	2.61B	-2.32B	-2.81B	1.73B	1.81B	481.00M	2.98B	2.40B	8.97B	8.57B	8.79B	10.04B	11.53B	5.96B	-	6.90B	9.32B	12.68B	15.28B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	326.93M	328.02M	327.90M	323.47M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-1.24B	966.00M	1.91B	2.41B	935.00M	1.44B	-	-	-	3.47B	6.16B	6.91B	-4.13B	-	6.07B	6.91B	9.45B	8.43B
Investing Cash Flow	2.72B	-80.00M	3.32B	-1.80B	-1.96B	-2.02B	-	-	-	-3.80B	-4.46B	-4.56B	50.00M	-	-13.83B	-6.11B	-2.65B	-6.35B
Financing Cash Flow	-702.00M	117.00M	-200.00M	-2.43B	-454.00M	-972.00M	-	-	-	-383.00M	-1.50B	-1.28B	12.96B	-	-3.35B	-1.89B	-4.18B	-4.95B
Capital Expenditure	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4.82B	-7.17B	-5.62B	-5.87B
Free Cash Flow	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.25B	-260.00M	3.83B	2.56B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11.11B	-1.09B	2.61B	-2.87B
Share Buybacks	11.00M	2.00M	3.00M	-	4.00M	3.00M	312.00M	1.23B	2.61B	1.84B	1.24B	1.65B	353.00M	0	0	0	162.00M	637.00M

Ratios (Annual)

Figures in %.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.7%	28.3%	28.9%	28.8%
Operating Margin %	-	-	-	-	-	-	-	-	11.9%	9.6%	7.8%	9.9%	-41.4%	-	5.5%	9.6%	9.1%	8.4%
Net Margin %	-	-	-	-	-	-	-	-	6.1%	5.7%	5.1%	7.0%	-46.0%	-	1.6%	4.9%	5.5%	5.7%
ROE %	232.5%	23.2%	14.6%	46.5%	-150.3%	19.1%	47.2%	81.9%	26.1%	24.4%	21.1%	26.1%	-118.6%	-	10.7%	28.1%	24.8%	21.9%
ROCE %	-	-1.3%	3.6%	6.9%	0.2%	5.1%	9.9%	18.2%	15.6%	12.2%	9.2%	11.4%	-13.6%	-	5.2%	10.6%	10.3%	9.9%

Shareholding Pattern

Insiders

0.63%

Institutions

89.78%

Public Float

90.34%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Vanguard Capital Management LLC	7.87%	20.99M	$2.41B
2	Blackrock Inc.	7.83%	20.89M	$2.40B
3	FMR, LLC	6.38%	17.02M	$1.95B
4	Primecap Management Company	5.91%	15.75M	$1.81B
5	Sanders Capital, LLC	5.70%	15.20M	$1.75B
6	Vanguard Portfolio Management LLC	5.27%	14.07M	$1.61B
7	State Street Corporation	4.36%	11.63M	$1.33B
8	Capital World Investors	4.17%	11.11M	$1.28B
9	Geode Capital Management, LLC	3.49%	9.30M	$1.07B
10	Capital International Investors	2.41%	6.44M	$739.15M

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