United Airlines Holdings, Inc. UAL
Last close
111.38
2026-09-04
Market cap
$36.15B
2026-06-30 share count
52-week range
84.64 - 138.77
Valuation FY2025 figures against the last close
P/S0.6x
P/E10.9x
P/FCF14.1x
EV/EBITDA5.9x
Dividend yield—
Diluted EPS10.20
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 10.32 | 9.58 | 7.98 | 2.26 | -6.10 | -25.30 | 11.63 | 7.70 | 7.08 | 6.77 |
| EPS, diluted | 10.20 | 9.45 | 7.89 | 2.23 | -6.10 | -25.30 | 11.58 | 7.67 | 7.06 | 6.76 |
| Shares, diluted (wtd. avg.) | $328.5M | $333.2M | $331.9M | $330.1M | $321.9M | $279.4M | $259.9M | $276.7M | $303.6M | $330.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
Others in SIC 4512
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| DAL | DELTA AIR LINES, INC. | $52.72B | 10.5x | 2.8% |
| LUV | SOUTHWEST AIRLINES CO | $19.38B | 50.2x | 2.1% |
| AAL | American Airlines Group Inc. | $8.69B | 77.2x | 0.8% |
| ALK | ALASKA AIR GROUP, INC. | $4.69B | 50.7x | 21.3% |
| SKYW | SKYWEST INC | $3.85B | 9.6x | 15.0% |
| ALGT | Allegiant Travel CO | $2.14B | — | 4.8% |
| JBLU | JETBLUE AIRWAYS CORP | $1.75B | — | -2.3% |
| ULCC | Frontier Group Holdings, Inc. | $1.37B | — | -1.4% |