United Airlines Holdings, Inc. (UAL)

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.

Symbol: UAL
Exchange: Nasdaq
Sector: Industrials
Industry: Airlines
Market cap: $36.52B
52 week range: 84.64 - 138.77

Valuation

Share price: $112.51 (close of 2026-10-02)
P/E (TTM): 10.44x
Price to book: 2.19x
Price to free cash flow: 14.35x
Enterprise value: $53.55B
Book value per share: $51.44

Price performance

Period	Change
1 day	+0.65%
5 days	-1.30%
1 month	+3.84%
3 months	-15.61%
6 months	+22.01%
Year to date	+0.62%
1 year	+18.64%
3 years	+170.33%
5 years	+119.15%
10 years	+114.43%
All time	+231.89%

Members of Congress who disclosed UAL trades

Gilbert Ray Cisneros

Super investors holding UAL

Ken Griffin (Citadel) · Stanley Druckenmiller (Duquesne Family Office) · Samantha McLemore (Patient Capital Management, LLC) · Ray Dalio (Bridgewater Associates) · Polen Capital Mgmt (Polen Capital Management LLC)

Profitability and growth

Return on equity: 21.94%
Return on invested capital: 11.03%
Return on assets: 4.39%
Return on capital employed: 9.37%
Gross margin: 7.98%
Net margin: 5.68%
EBITDA margin: 12.95%
Revenue growth: 3.52%
Net income growth: 6.48%
Free cash flow growth: -33.24%

Cash flow and balance sheet

Free cash flow yield (TTM): 6.97%
Current ratio: 0.78x
Net debt to EBITDA: 3.05x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $59.07B
Cost of revenue: $54.36B
Gross profit: $4.71B
EBITDA: $7.65B
Net income: $3.35B
Earnings per share: $10.32
Shares outstanding: 324.90M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$59.07B	$4.71B	$3.35B	$10.32
2024-12-31	$57.06B	$5.10B	$3.15B	$9.58
2023-12-31	$53.72B	$4.21B	$2.62B	$7.98
2022-12-31	$44.95B	$2.34B	$737.00M	$2.26
2021-12-31	$24.63B	-	-$1.96B	$-6.10
2020-12-31	$15.36B	-	-$7.07B	$-25.30
2019-12-31	$43.26B	$4.30B	$3.01B	$11.63
2018-12-31	$41.30B	$3.23B	$2.12B	$7.70
2017-12-31	$37.78B	$3.62B	$2.14B	$7.08
2016-12-31	$36.56B	$4.34B	$2.23B	$6.77

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	7.98%	5.68%	21.94%	11.03%
2024-12-31	8.93%	5.52%	24.84%	12.81%
2023-12-31	7.84%	4.87%	28.08%	10.87%
2022-12-31	5.20%	1.64%	10.69%	7.74%
2021-12-31	-	-7.97%	-39.05%	-1.97%
2020-12-31	-	-46.04%	-118.61%	-17.04%
2019-12-31	9.94%	6.96%	26.09%	12.56%
2018-12-31	7.82%	5.14%	21.13%	10.44%
2017-12-31	9.58%	5.67%	24.39%	14.22%
2016-12-31	11.88%	6.11%	26.06%	18.81%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$12.24B	$17.17B
2024-12-31	$14.47B	$21.68B
2023-12-31	$14.39B	$25.06B
2022-12-31	$16.41B	$28.28B
2021-12-31	$18.41B	$30.36B
2020-12-31	$11.68B	$24.84B
2019-12-31	$4.94B	$13.14B
2018-12-31	$3.95B	$12.21B
2017-12-31	$3.80B	$11.70B
2016-12-31	$4.43B	$9.92B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$2.56B	$148.00M
2024-12-31	$3.83B	$142.00M
2023-12-31	-$260.00M	$80.00M
2022-12-31	$1.25B	$89.00M
2021-12-31	-$40.00M	$238.00M
2020-12-31	-$5.86B	$108.00M
2019-12-31	$2.38B	$100.00M
2018-12-31	$2.09B	$101.00M
2017-12-31	-$396.00M	$73.00M
2016-12-31	$2.32B	$70.00M

Dividend history

Most recent payment: 2008-01-07

Payment date	Dividend per share
2008-01-07	$2.15

Investor relations

Next earnings report

Next confirmed report: 2026-10-20
Consensus EPS estimate: $3.03

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-15	Jun/2026	$1.92
2026-04-21	Mar/2026	$1.08
2026-01-20	Dec/2025	$2.98
2025-10-15	Sep/2025	$2.64
2025-07-16	Jun/2025	$3.86
2025-04-15	Mar/2025	$0.75
2025-01-21	Dec/2024	$3.01
2024-10-15	Sep/2024	$3.10

Filings and sources

Company website: united.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

Southwest Airlines Co (LUV) · Delta Air Lines, Inc. (DAL) · American Airlines Group Inc. (AAL) · Alaska Air Group, Inc. (ALK) · Huntington Ingalls Industries, Inc. (HII) · Textron Inc (TXT) · Trane Technologies plc (TT) · HEICO Corp (HEI-A)

All Industrials companies

Understanding these figures

Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades