UAL · United Airlines Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.61B | - | $15.22B | $15.24B | $13.21B | - | $14.84B | $14.99B | $12.54B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $13.61B | - | $13.83B | $13.91B | $12.61B | - | $13.28B | $13.06B | $12.44B | - |
| D&A | $756.00M | - | $730.00M | $733.00M | $727.00M | - | $742.00M | $719.00M | $708.00M | - |
| Operating Income | $997.00M | - | $1.40B | $1.32B | $607.00M | - | $1.56B | $1.93B | $99.00M | - |
| Interest Expense | $327.00M | - | $331.00M | $427.00M | $454.00M | - | $493.00M | - | - | - |
| Income Tax | $172.00M | - | $306.00M | $275.00M | $91.00M | - | $321.00M | $416.00M | ($40.00M) | - |
| Net Income | $699.00M | - | $949.00M | $973.00M | $387.00M | - | $965.00M | $1.32B | ($124.00M) | - |
| EPS - Basic | $2.16 | - | $2.93 | $3.00 | $1.18 | - | $2.93 | $4.02 | ($0.38) | - |
| EPS - Diluted | $2.14 | - | $2.90 | $2.97 | $1.16 | - | $2.90 | $3.96 | ($0.38) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.87B | $5.94B | $6.73B | $9.35B | $9.37B | $8.77B | $8.81B | $10.86B | $8.40B | $6.06B |
| Accounts Receivable | $2.66B | $2.39B | $2.43B | $2.29B | $2.29B | $2.16B | $2.04B | $2.38B | $2.26B | $1.90B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $5.38B | $4.57B | $4.64B | $4.92B | $4.69B | $4.19B | $4.01B | $4.48B | $4.34B | $3.83B |
| Current Assets | $19.39B | $16.86B | $18.09B | $20.26B | $20.15B | $18.88B | $18.57B | $20.00B | $18.70B | $18.49B |
| Total Assets | $80.94B | $76.45B | $76.31B | $77.16B | $76.11B | $74.08B | $72.64B | $73.25B | $71.90B | $71.10B |
| Current Liabilities | $27.78B | $26.13B | $27.12B | $28.99B | $25.80B | $23.31B | $23.36B | $25.86B | $24.76B | $22.20B |
| Long-term Debt | - | $17.17B | - | - | - | $21.68B | $22.21B | $21.69B | $23.06B | $25.06B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $15.88B | $15.28B | $14.31B | $13.37B | $12.62B | $12.68B | $11.44B | $10.53B | $9.19B | $9.32B |
| Retained Earnings | $10.73B | $10.09B | $9.05B | $8.11B | $7.14B | $6.88B | $5.90B | $4.99B | $3.66B | $3.83B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.80B | - | - | - | $3.71B | - | - | - | $2.85B | - |
| Investing Cash Flow | ($1.89B) | - | - | - | ($1.46B) | - | - | - | $1.44B | - |
| Financing Cash Flow | ($976.00M) | - | - | - | ($1.46B) | - | - | - | ($1.94B) | - |
| CapEx | $1.67B | - | - | - | $1.23B | - | - | - | $1.37B | - |
| Free Cash Flow | $3.13B | - | - | - | $2.48B | - | - | - | $1.48B | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 6.8% | - | 9.2% | 8.7% | 4.6% | - | 10.5% | 12.9% | 0.8% | - |
| EBITDA margin | 12.0% | - | 14.0% | 13.5% | 10.1% | - | 15.5% | 17.7% | 6.4% | - |
| Net margin | 4.8% | - | 6.2% | 6.4% | 2.9% | - | 6.5% | 8.8% | -1.0% | - |
| Free cash flow margin | 21.4% | - | - | - | 18.7% | - | - | - | 11.8% | - |
| FCF / Net income | 4.47 | - | - | - | 6.40 | - | - | - | -11.94 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 19.7% | - | 24.4% | 22.0% | 19.0% | - | 25.0% | 23.9% | - | - |
| Return on assets | 0.9% | - | 1.2% | 1.3% | 0.5% | - | 1.3% | 1.8% | -0.2% | - |
| Return on equity | 4.4% | - | 6.6% | 7.3% | 3.1% | - | 8.4% | 12.6% | -1.3% | - |
| Return on invested capital | - | - | - | - | - | - | 3.5% | 4.6% | 0.2% | - |
| Liquidity | ||||||||||
| Current ratio | 0.70 | 0.65 | 0.67 | 0.70 | 0.78 | 0.81 | 0.79 | 0.77 | 0.75 | 0.83 |
| Quick ratio | 0.70 | 0.65 | 0.67 | 0.70 | 0.78 | 0.81 | 0.79 | 0.77 | 0.75 | 0.83 |
| Cash ratio | 0.28 | 0.23 | 0.25 | 0.32 | 0.36 | 0.38 | 0.38 | 0.42 | 0.34 | 0.27 |
| Leverage | ||||||||||
| Debt / Equity | - | 1.12 | - | - | - | 1.71 | 1.94 | 2.06 | 2.51 | 2.69 |
| Debt / Assets | - | 0.22 | - | - | - | 0.29 | 0.31 | 0.30 | 0.32 | 0.35 |
| Debt / EBITDA | - | - | - | - | - | - | 9.63 | 8.19 | 28.57 | - |
| Interest coverage | 3.0x | - | 4.2x | 3.1x | 1.3x | - | 3.2x | - | - | - |
| Equity multiplier | 5.10 | 5.00 | 5.33 | 5.77 | 6.03 | 5.84 | 6.35 | 6.96 | 7.83 | 7.63 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.20 | 0.20 | 0.17 | - | 0.20 | 0.20 | 0.17 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 66d | - | 58d | 55d | 63d | - | 50d | 58d | 66d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 43.0x | - | 33.3x | 26.8x | 59.5x | - | 19.7x | 12.3x | - | - |
| P / B | 1.9x | - | 2.2x | 1.9x | 1.8x | - | 1.7x | 1.5x | 1.7x | - |
| P / S | 2.1x | - | 2.1x | 1.7x | 1.7x | - | 1.3x | 1.1x | 1.3x | - |
| EV / EBITDA | 12.7x | - | 11.7x | 8.1x | 10.2x | - | 14.0x | 10.2x | 37.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 10.6% | - | 2.6% | 1.7% | 5.4% | - | 2.5% | 5.7% | 9.7% | - |
| Revenue CAGR (3y) | 8.5% | - | 5.7% | 7.9% | 20.4% | - | 24.2% | 39.9% | 57.3% | - |
| Revenue CAGR (5y) | 35.3% | - | 43.7% | 59.5% | 10.6% | - | 5.5% | 5.6% | 5.5% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 64.3% | - | -10.9% | -31.3% | 513.1% | - | -10.0% | 27.2% | - | - |
| Net income growth (YoY) | 80.6% | - | -1.7% | -26.5% | - | - | -15.1% | 23.1% | 36.1% | - |
| EPS growth (YoY) | 84.5% | - | 0.0% | -25.0% | - | - | -15.2% | 22.2% | 35.6% | - |
| EPS CAGR (3y) | - | - | 0.5% | 43.7% | - | - | 26.3% | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | -6.2% | -0.3% | - | - |
| FCF growth (YoY) | 26.2% | - | - | - | 67.3% | - | - | - | 14.0% | - |
| FCF CAGR (5y) | 301.4% | - | - | - | - | - | - | - | 71.4% | - |
| Book value growth (YoY) | 25.8% | 20.6% | 25.1% | 27.0% | 37.3% | 35.9% | 29.2% | 36.6% | 37.8% | 35.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$63.87B totalPassenger$53.44B · 83.7%
Passenger Ancillary Fees$4.80B · 7.5%
Product And Service Other$3.85B · 6.0%
Cargo And Freight$1.78B · 2.8%
Peer comparison
Same SIC group: Air Transportation, Scheduled
Comparing United Airlines Holdings against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Jan 7, 2008 | $2.1500 |