A Business at a Glance
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United Airlines Holdings, Inc. (together with its consolidated subsidiaries, "UAL" or the "Company") is a holding company and its wholly-owned subsidiary is United Airlines, Inc. (together with its consolidated subsidiaries, "United"). United's shared purpose is "Connecting People. Uniting the World." United has the most comprehensive route network among North American carriers, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. As UAL consolidates United for financial statement purposes, disclosures that relate to activities of United also apply to UAL, unless otherwise noted. United's operating revenues and operating expenses comprise nearly 100% of UAL's revenues and operating expenses. In addition, United comprises approximately the entire balance of UAL's assets, liabilities and operating cash flows.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 59.1B | 59.1B | 57.1B | 53.7B | 45.0B | 24.6B |
| Net Income | 3.4B | 3.4B | 3.1B | 2.6B | 737M | -2.0B |
| EPS | $10.20 | $10.20 | $9.45 | $7.89 | $2.23 | $-6.10 |
| Free Cash Flow | 2.6B | 2.6B | 3.8B | -260M | 1.2B | -40M |
| ROIC | 9.5% | 11.7% | 12.7% | 10.6% | 7.1% | -5.5% |
| Gross Margin | 70.1% | 70.1% | 70.8% | 72.5% | 74.5% | 76.6% |
| Debt/Equity | 1.92 | 1.92 | 2.53 | 3.85 | 4.95 | 7.23 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 4.7B | 4.7B | 5.1B | 4.2B | 2.3B | -1.0B |
| Operating Margin | 8.0% | 8.0% | 8.9% | 7.8% | 5.2% | -4.1% |
| ROE | 21.9% | 24.0% | 24.8% | 28.1% | 10.7% | -39.1% |
| Shares Outstanding | 329M | 329M | 333M | 332M | 330M | 322M |
United Airlines Holdings, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
United Airlines Holdings, Inc. trades at 9.3x trailing earnings, compared to its 15-year median P/E of 10.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.0x vs a median of 10.2x. The company's 5-year average ROIC is 7.3% with a gross margin of 72.9%. Total shareholder yield (buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +2.1%.
United Airlines Holdings, Inc. (UAL) has a current P/E ratio of 9.3, compared to its historical median P/E of 10.6. The stock is currently considered Fair based on its historical valuation range.
United Airlines Holdings, Inc. (UAL) has a 5-year average return on invested capital (ROIC) of 7.3%. This is below average and may indicate limited pricing power.
United Airlines Holdings, Inc. (UAL) has a market capitalization of $31.3B. It is classified as a large-cap stock.
United Airlines Holdings, Inc. (UAL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.04%.
Based on historical P/E analysis, United Airlines Holdings, Inc. (UAL) appears fair. The current P/E of 9.3 is 12% below its historical median of 10.6. The estimated fair value CAGR (P/E method) is 3.6%.
United Airlines Holdings, Inc. (UAL) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
United Airlines Holdings, Inc. (UAL) reported annual revenue of $59.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
United Airlines Holdings, Inc. (UAL) has a net profit margin of 5.7%. This is a modest margin.
United Airlines Holdings, Inc. (UAL) generated $2.6 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
United Airlines Holdings, Inc. (UAL) has a debt-to-equity ratio of 1.92. This indicates higher leverage, which may increase financial risk.
United Airlines Holdings, Inc. (UAL) reported earnings per share (EPS) of $10.20 in its most recent fiscal year.
United Airlines Holdings, Inc. (UAL) has a return on equity (ROE) of 24.0%. This indicates the company generates strong returns for shareholders.
United Airlines Holdings, Inc. (UAL) has a 5-year average gross margin of 72.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for United Airlines Holdings, Inc. (UAL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
United Airlines Holdings, Inc. (UAL) has a book value per share of $46.49, based on its most recent annual SEC filing.