UAL

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United Airlines Holdings, Inc.

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Key Metrics

Previous Close: $115.78
52-Week Range: $84.64 – $138.77
Market Cap: $36.26B
P/E (TTM): 10.47
EPS (TTM): 10.67
Dividend Yield: —

Advanced Metrics

Price/Book: 2.17
PEG Ratio: 6.50
Return on Equity: 23.25%
Return on Assets: 3.38%
Gross Margin: 31.82%
Operating Margin: 5.53%
Profit Margin: 5.56%
Current Ratio: 0.78
Debt/Equity: 2.02
Total Debt: $33.67B
Free Cash Flow: $910.12M
Revenue Growth: 16.00%
Earnings Growth: -17.20%
Enterprise Value: $54.61B

UAL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$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
Selling, General & Admin	$1.53B	$1.98B	$2.23B	$2.11B
Operating Expenses	$8.16B	$10.04B	$11.28B	$12.03B
Operating Income	$2.48B	$5.16B	$5.21B	$4.97B
EBITDA	$5.12B	$7.83B	$8.50B	$8.41B
Pretax Income	$990.00M	$3.39B	$4.17B	$4.31B
Income Tax	$253.00M	$769.00M	$1.02B	$953.00M
Net Income	$737.00M	$2.62B	$3.15B	$3.35B
Diluted EPS	2.23	7.89	9.45	10.20
Diluted Shares	330.10M	331.90M	333.20M	328.50M

UAL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$7.17B	$6.06B	$8.77B	$5.94B
Receivables	$1.80B	$1.90B	$2.16B	$2.39B
Inventory	$1.11B	$1.56B	$1.57B	$1.56B
Current Assets	$20.06B	$18.49B	$18.88B	$16.86B
Total Assets	$67.36B	$71.10B	$74.08B	$76.45B
Current Liabilities	$19.99B	$22.20B	$23.31B	$26.13B
Long-Term Debt	$28.28B	$27.41B	$25.20B	$20.56B
Total Debt	$36.43B	$36.74B	$33.63B	$31.04B
Total Liabilities	$60.46B	$61.78B	$61.41B	$61.17B
Retained Earnings	$1.26B	$3.83B	$6.88B	$10.09B
Shareholders' Equity	$6.90B	$9.32B	$12.68B	$15.28B
Working Capital	$66.00M	-$3.72B	-$4.43B	-$9.28B
Net Debt	$24.03B	$25.60B	$19.89B	$19.05B

UAL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$6.07B	$6.91B	$9.45B	$8.43B
Capital Expenditure	-$4.82B	-$7.17B	-$5.62B	-$5.87B
Free Cash Flow	$1.25B	-$260.00M	$3.83B	$2.56B
Depreciation & Amortisation	$2.46B	$2.67B	$2.93B	$2.94B
Investing Cash Flow	-$13.83B	-$6.11B	-$2.65B	-$6.35B
Financing Cash Flow	-$3.35B	-$1.89B	-$4.18B	-$4.95B
Share Repurchases	$0.00	$0.00	-$162.00M	-$637.00M
Net Change in Cash	-$11.11B	-$1.09B	$2.61B	-$2.87B

UAL Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$15.24B	$15.22B	$15.40B	$14.61B	$17.67B
Cost of Revenue	$10.49B	$10.80B	$10.89B	$10.94B	$13.38B
Gross Profit	$4.75B	$4.42B	$4.51B	$3.67B	$4.30B
Selling, General & Admin	$487.00M	$555.00M	$571.00M	$522.00M	$644.00M
Operating Expenses	$2.97B	$3.10B	$3.13B	$3.06B	$3.35B
Operating Income	$1.77B	$1.32B	$1.38B	$608.00M	$951.00M
EBITDA	$1.56B	$1.53B	$1.60B	$1.14B	$1.31B
Pretax Income	$1.25B	$1.25B	$1.32B	$870.00M	$1.03B
Income Tax	$275.00M	$306.00M	$281.00M	$172.00M	$221.00M
Net Income	$973.00M	$949.00M	$1.04B	$699.00M	$805.00M
Diluted EPS	2.97	2.90	3.19	2.14	2.46
Diluted Shares	327.20M	326.90M	327.00M	326.80M	326.60M

UAL Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$9.35B	$6.73B	$5.94B	$7.87B	$10.17B
Receivables	$2.29B	$2.43B	$2.39B	$2.66B	$2.47B
Inventory	$1.55B	$1.59B	$1.56B	$1.72B	$1.79B
Current Assets	$20.26B	$18.09B	$16.86B	$19.39B	$21.66B
Total Assets	$77.16B	$76.31B	$76.45B	$80.94B	$84.57B
Current Liabilities	$28.99B	$27.12B	$26.13B	$27.78B	$27.76B
Long-Term Debt	$20.89B	$20.81B	$20.56B	$21.94B	$24.29B
Total Debt	$32.79B	$31.32B	$31.04B	$30.97B	$33.67B
Total Liabilities	$63.79B	$62.00B	$61.17B	$65.06B	$67.87B
Retained Earnings	$8.11B	$9.05B	$10.09B	$10.73B	$11.54B
Shareholders' Equity	$13.37B	$14.31B	$15.28B	$15.88B	$16.70B
Working Capital	-$8.73B	-$9.03B	-$9.28B	-$8.39B	-$6.10B
Net Debt	$17.73B	$18.70B	$19.05B	$16.32B	$16.30B

UAL Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$2.22B	$1.22B	$1.29B	$4.80B	$1.61B
Capital Expenditure	-$1.29B	-$1.46B	-$1.89B	-$1.67B	-$1.34B
Free Cash Flow	$930.00M	-$246.00M	-$604.00M	$3.13B	$267.00M
Investing Cash Flow	-$1.58B	-$1.74B	-$1.56B	-$1.89B	-$1.46B
Financing Cash Flow	-$843.00M	-$2.14B	-$509.00M	-$976.00M	$2.15B
Share Repurchases	-$240.00M	-$21.00M	-$27.00M	-$27.00M	$0.00
Net Change in Cash	-$206.00M	-$2.66B	-$790.00M	$1.93B	$2.30B

Market Snapshot

About

United Airlines Holdings, Inc. is one of the largest airline companies in the world, operating a comprehensive domestic and international route network. The company provides passenger and cargo air transportation services across six continents through its United Airlines brand. United is a founding member of the Star Alliance, the largest airline alliance globally.