United Airlines Holdings, Inc. UAL

Industrials SIC 4512 - Air Transportation, Scheduled NAICS Transportation and Warehousing › Air Transportation › Scheduled Air Transportation derived Nasdaq

Last close 97.93 2026-10-23
Market cap $31.79B 2026-06-30 share count
52-week range 84.64 - 138.77

Valuation FY2025 figures against the last close

P/S0.5x
P/E9.6x
P/FCF12.4x
EV/EBITDA5.3x
Dividend yield—
Diluted EPS10.20

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $59.07B$57.06B$53.72B$44.95B$24.63B$15.36B$43.26B$41.30B$37.78B$36.56B
Total operating expenses $54.36B$51.97B$49.51B$42.62B$25.66B$21.71B$38.96B$38.07B$34.17B$32.21B
Operating income $4.71B$5.10B$4.21B$2.34B-$1.02B-$6.36B$4.30B$3.23B$3.62B$4.34B
Interest expense $1.37B$1.63B$1.96B$1.78B———$670.0M$626.0M$674.0M
Pre-tax income $4.31B$4.17B$3.39B$990.0M-$2.56B-$8.82B$3.91B$2.65B$3.02B$3.77B
Income tax $953.0M$1.02B$769.0M$253.0M$593.0M$1.75B$905.0M$526.0M$880.0M$1.54B
Net income $3.35B$3.15B$2.62B$737.0M-$1.96B-$7.07B$3.01B$2.12B$2.14B$2.23B
EPS, basic 10.329.587.982.26-6.10-25.3011.637.707.086.77
EPS, diluted 10.209.457.892.23-6.10-25.3011.587.677.066.76
Shares, diluted (wtd. avg.) 328.5M333.2M331.9M330.1M321.9M279.4M259.9M276.7M303.6M330.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $5.94B$8.77B$6.06B$7.42B$18.53B$11.74B$2.87B$1.80B$1.59B$2.30B
Short-term investments $6.30B$5.71B$8.33B$9.25B$123.0M$414.0M$2.18B$2.26B$2.32B$2.25B
Receivables $2.39B$2.16B$1.90B$1.80B$1.66B$1.29B$1.36B$1.43B$1.34B$1.18B
Total current assets $16.86B$18.88B$18.49B$20.06B$21.83B$14.80B$8.19B$7.09B$7.13B$7.31B
Property, plant and equipment $46.12B$42.91B$39.81B———$30.17B$27.40B$26.21B$23.32B
Goodwill $4.53B$4.53B$4.53B$4.53B$4.53B$4.53B$4.52B$4.52B$4.52B$4.52B
Other intangibles $2.65B$2.68B$2.73B$2.76B$2.80B$2.84B$3.01B$3.16B$3.54B$3.63B
Total assets $76.45B$74.08B$71.10B$67.36B$68.17B$59.55B$52.61B$49.02B$42.35B$40.14B
Accounts payable $4.57B$4.19B$3.83B$3.40B$2.56B$1.59B$2.70B$2.36B$2.20B$2.14B
Short-term debt $4.10B$2.97B$4.02B$2.91B$3.00B$1.91B$1.41B$1.23B$1.56B$849.0M
Total current liabilities $26.13B$23.31B$22.20B$19.99B$18.30B$12.72B$14.94B$13.84B$12.76B$12.29B
Long-term debt $17.17B$21.68B$25.06B$28.28B$30.36B$24.84B$13.14B$12.21B$11.70B$9.92B
Retained earnings $10.09B$6.88B$3.83B$1.26B$625.0M$2.63B$9.72B$6.71B$4.55B$3.43B
Total equity $15.28B$12.68B$9.32B$6.90B$5.03B$5.96B$11.53B$10.04B$8.79B$8.57B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $8.43B$9.45B$6.91B$6.07B$2.07B-$4.13B$6.91B$6.16B$3.47B$5.54B
Depreciation and amortisation $2.94B$2.93B$2.67B$2.46B$2.48B$2.49B$2.29B$2.17B——
Capital expenditure $5.87B$5.62B$7.17B$4.82B$2.11B$1.73B$4.53B$4.07B$3.87B$3.22B
Investing cash flow -$6.35B-$2.65B-$6.11B-$13.83B-$1.67B$50.0M-$4.56B-$4.46B-$3.80B-$3.24B
Financing cash flow -$4.95B-$4.18B-$1.89B-$3.35B$6.40B$12.96B-$1.28B-$1.50B-$383.0M-$3.21B
Buybacks $637.0M$162.0M$0$0$0$353.0M$1.65B$1.24B$1.84B$2.61B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-040467.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20B 0 20B 40B 60B Revenue, FY2016: 36.6B Net income, FY2016: 2.2B Revenue, FY2017: 37.8B Net income, FY2017: 2.1B Revenue, FY2018: 41.3B Net income, FY2018: 2.1B Revenue, FY2019: 43.3B Net income, FY2019: 3B Revenue, FY2020: 15.4B Net income, FY2020: -7.1B Revenue, FY2021: 24.6B Net income, FY2021: -2B Revenue, FY2022: 45B Net income, FY2022: 737M Revenue, FY2023: 53.7B Net income, FY2023: 2.6B Revenue, FY2024: 57.1B Net income, FY2024: 3.1B Revenue, FY2025: 59.1B Net income, FY2025: 3.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $36.56B $37.78B $41.30B $43.26B $15.36B $24.63B $44.95B $53.72B $57.06B $59.07B
Gross profit — — — — — — — — — —
Net income $2.23B $2.14B $2.12B $3.01B -$7.07B -$1.96B $737.0M $2.62B $3.15B $3.35B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 4512

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ALK ALASKA AIR GROUP, INC. $3.84B 41.4x 21.3%
SKYW SKYWEST INC $3.61B 9.0x 15.0%
ALGT Allegiant Travel CO $1.85B — 4.8%
ULCC Frontier Group Holdings, Inc. $1.14B — -1.4%
JBLU JETBLUE AIRWAYS CORP $990.4M — -2.3%