United Airlines Holdings Inc

LTS : 0LIU

USA·Industrials·Transportation

$96.70

−3.89 (−4.14%)Oct 16 close

Market Cap

$31.28B

Enterprise Value

$50.07B

P/E (TTM)

9.01

P/B

1.95

Net Cash / (Debt)

−$18.80B

52-Week Range

$85 — $137

5-Year Range

$32 — $137

Avg Volume (3M)

5.21K

ListingsLTS LIM STU NAS

United Airlines sells passenger air travel—primarily long-haul and international routes—through a hub-and-spoke network centered on seven US hubs. Customers are leisure and business travelers, with a meaningful mix of premium and corporate traffic, especially on trans-Pacific routes. Revenue comes from ticket sales, ancillary fees (baggage, seat upgrades), cargo, and loyalty program partnerships with co-branded credit cards.

Employees113,200IPOJan 18, 2018SIC4512HQ233 South Wacker Drive, Chicago, IL, USA, 60606

to

Financials

Profitability

Metric

Current

Margins

Gross Margin

28.8%

Operating Margin

8.4%

EBITDA Margin

9.3%

Net Margin

5.7%

OCF Margin

14.3%

FCF Margin

4.3%

Returns on Capital

ROE

24.6%

ROA

4.4%

ROIC

5.1%

ROCE

11.0%

ROC (Greenblatt)

11.2%

3Y ROIIC

13.2%

Consistency

Years Profitable / 10Y

8

Valuation

Metric

Current

Earnings Multiples

P/E (TTM)

9.01

Forward P/E

7.03

P/E ex-NRI

8.61

Shiller P/E (CAPE)

26.55

Cash Flow Multiples

P/FCF

11.99

P/OCF

3.60

P/Owner Earnings

—

FCF Yield

8.59%

Enterprise Value Multiples

EV / EBIT

8.88

EV / Forward EBIT

8.20

EV / EBITDA

8.88

EV / Forward EBITDA

5.24

EV / Revenue

0.82

EV / Forward Revenue

0.77

Asset / Sales

P/S

0.51

P/B

1.95

P/Tangible Book

3.68

Growth-Adjusted

PEG

—

Capital Returns

Metric

Current

Dividends

Dividend Yield (TTM)

0.00%

Forward Dividend Yield

0.00%

3Y Dividend Growth

0.0%

Payout Ratio

0.00

5Y Yield on Cost

0.00%

Buybacks & Dilution

3Y Buyback Ratio

0.40%

Combined

Shareholder Yield

2.18%

Balance Sheet

Metric

Current

Leverage

Debt / Equity

2.03

Gross Debt / EBITDA

5.67

Cash / Debt

0.39

Equity / Assets

0.20

Coverage

Interest Coverage

4.26

Short-Term Liquidity

Current Ratio

0.65

Quick Ratio

0.59

Cash Ratio

0.47

Composite Scores

Piotroski F-Score

6

Altman Z-Score

1.34

Split History

Date

Split

No split history found.

Dividends

Ex-date

Amount

Pay date

No dividend history found.

Transcripts

Date

Transcript

Type

United Airlines Holdings Inc at Bernstein Strategic Decisions Conference Transcript

Conference Presentations

United Airlines Holdings Inc Annual Shareholders Meeting Transcript

Shareholders and Annual Meetings

Q1 2026 United Airlines Holdings Inc Earnings Call Transcript

United Airlines Holdings Inc at JPMorgan Industrials Conference Transcript

Conference Presentations

United Airlines Holdings Inc at Barclays Industrial Select Conference Transcript

Conference Presentations

Q4 2025 United Airlines Holdings Inc Earnings Call Transcript

Q3 2025 United Airlines Holdings Inc Earnings Call Transcript

Q2 2025 United Airlines Holdings Inc Earnings Call Transcript

Q1 2025 United Airlines Holdings Inc Earnings Call Transcript

Q4 2024 United Airlines Holdings Inc Earnings Call Transcript

10 of 57

5-Step DuPont Analysis

ROE %

23.99%

×

×

Net Margin %

5.68%

×

×

Operating Margin %

8.42%

Operating Income

$4.97B

÷

Revenue

$59.07B

×

Tax Burden

0.7787

Net Income

$3.35B

÷

Pretax Income

$4.31B

×

Interest Burden

0.8662

Pretax Income

$4.31B

÷

Operating Income

$4.97B

×

Asset Turnover

0.78

÷

Revenue

$59.07B

÷

Average Total Assets

$75.27B

Begin Total Assets

$74.08B

End Total Assets

$76.45B

×

Equity Multiplier

5.38

÷

Avg Total Assets

$75.27B

÷

Avg Stockholders Equity

$13.98B

Begin Equity

$12.68B

End Equity

$15.28B