United Airlines Holdings, Inc. financials
Source: EDGAR filings · Built 2026-06-02T04:15:15Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 2.38B | 3.56B | -571.00M | 1.12B | -256.00M | -5.93B |
| EBITDA | 7.65B | 8.02B | 6.88B | 4.79B | 1.46B | -3.87B |
| Working Capital | -9.28B | -4.43B | -3.72B | 66.00M | 3.53B | 2.08B |
| Net Debt | 21.85B | 21.41B | 28.36B | 29.27B | 21.08B | 21.48B |
| Operating Margin | 7.98% | 8.93% | 7.84% | 5.20% | -4.15% | -41.41% |
| Net Margin | 5.68% | 5.52% | 4.87% | 1.64% | -7.97% | -46.04% |
| Return on Equity (ROE) | 21.94% | 24.84% | 28.08% | 10.69% | -39.05% | -118.61% |
| Return on Assets (ROA) | 4.39% | 4.25% | 3.68% | 1.09% | -2.88% | -11.87% |
| Current Ratio | 0.65× | 0.81× | 0.83× | 1.00× | 1.19× | 1.16× |
| Debt-to-Equity | 1.82× | 2.38× | 3.69× | 5.28× | 7.83× | 5.50× |
| Effective Tax Rate | 22.13% | 24.45% | 22.70% | 25.56% | 23.19% | 19.87% |
| Cash Conversion Ratio | 2.51× | 3.00× | 2.64× | 8.23× | -1.05× | 0.58× |
| Accruals Ratio | -0.07× | -0.09× | -0.06× | -0.08× | -0.06× | -0.05× |
| SBC % of Revenue | 0.25% | 0.25% | 0.15% | 0.20% | 0.97% | 0.70% |
| CapEx Coverage | 1.39× | 1.61× | 0.92× | 1.23× | 0.89× | -2.31× |
| Free Cash Flow Per Share | $7.25 | $10.69 | $-1.72 | $3.40 | $-0.80 | $-21.21 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 10.96× | 10.28× | 5.23× | 16.91× | — | — |
| P/FCF | 15.41× | 9.09× | — | 11.08× | — | — |
| FCF Yield | 6.49% | 11.01% | — | 9.02% | — | — |
| EV / EBITDA | 7.58× | 6.64× | 6.09× | 8.68× | 24.10× | — |
| P/S | 0.61× | 0.56× | 0.25× | 0.27× | 0.58× | 0.88× |
| P/B | 2.37× | 2.51× | 1.45× | 1.79× | 2.82× | 2.26× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 59.07B | 57.06B | 53.72B | 44.95B | 24.63B | 15.36B |
| Operating Income (Loss) | 4.71B | 5.10B | 4.21B | 2.34B | -1.02B | -6.36B |
| Income Tax Expense (Benefit) | 953.00M | 1.02B | 769.00M | 253.00M | -593.00M | -1.75B |
| Net Income (Loss) Attributable to Parent | 3.35B | 3.15B | 2.62B | 737.00M | -1.96B | -7.07B |
| Earnings Per Share, Basic | $10.32 | $9.58 | $7.98 | $2.26 | $-6.10 | $-25.30 |
| Weighted Average Number of Shares Outstanding, Basic | 324.90M | 328.60M | 327.80M | 326.40M | 321.90M | 279.40M |
| Earnings Per Share, Diluted | $10.20 | $9.45 | $7.89 | $2.23 | $-6.10 | $-25.30 |
| Weighted Average Number of Shares Outstanding, Diluted | 328.50M | 333.20M | 331.90M | 330.10M | 321.90M | 279.40M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 5.94B | 8.77B | 6.06B | 7.17B | 18.28B | 11.27B |
| Assets, Current | 16.86B | 18.88B | 18.49B | 20.06B | 21.83B | 14.80B |
| Assets | 76.45B | 74.08B | 71.10B | 67.36B | 68.17B | 59.55B |
| Liabilities, Current | 26.13B | 23.31B | 22.20B | 19.99B | 18.30B | 12.72B |
| Long-term Debt, Excluding Current Maturities | 17.17B | 21.68B | 25.06B | 28.28B | 30.36B | 24.84B |
| Stockholders' Equity Attributable to Parent | 15.28B | 12.68B | 9.32B | 6.90B | 5.03B | 5.96B |
| Common Stock, Shares, Outstanding | 323.47M | 327.90M | 328.02M | 326.93M | 323.81M | 311.85M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 8.43B | 9.45B | 6.91B | 6.07B | 2.07B | -4.13B |
| Net Cash Provided by (Used in) Investing Activities | -6.35B | -2.65B | -6.11B | -13.83B | -1.67B | 50.00M |
| Payments for Repurchase of Common Stock | 637.00M | 162.00M | 0 | 0 | 0 | 353.00M |
| Net Cash Provided by (Used in) Financing Activities | -4.95B | -4.18B | -1.89B | -3.35B | 6.40B | 12.96B |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 3.13B | -604.00M | 3.16B | 3.41B | 2.48B | 549.00M |
| EBITDA | 1.75B | 2.13B | 2.13B | 2.06B | 1.33B | 2.26B |
| Working Capital | -8.39B | -9.28B | -9.03B | -8.73B | -5.65B | -4.43B |
| Net Debt | 20.85B | 21.85B | 19.97B | 17.24B | 20.29B | 21.41B |
| Operating Margin | 6.83% | 9.00% | 9.16% | 8.70% | 4.59% | 10.23% |
| Net Margin | 4.79% | 6.78% | 6.23% | 6.39% | 2.93% | 6.70% |
| Return on Equity (ROE) | 4.40% | 6.83% | 6.63% | 7.28% | 3.07% | 7.77% |
| Return on Assets (ROA) | 0.86% | 1.37% | 1.24% | 1.26% | 0.51% | 1.33% |
| Current Ratio | 0.70× | 0.65× | 0.67× | 0.70× | 0.78× | 0.81× |
| Debt-to-Equity | 1.81× | 1.82× | 1.87× | 1.99× | 2.35× | 2.38× |
| Effective Tax Rate | 19.77% | 21.21% | 24.38% | 22.04% | 19.04% | 24.64% |
| Cash Conversion Ratio | 6.87× | 1.23× | 7.53× | 6.09× | 9.59× | 2.26× |
| Accruals Ratio | -0.05× | -0.00× | -0.08× | -0.06× | -0.04× | -0.02× |
| CapEx Coverage | 2.87× | 0.68× | 1.79× | 2.35× | 3.01× | 1.33× |
| Free Cash Flow Per Share | $9.57 | $-1.84 | $9.67 | $10.41 | $7.44 | $1.65 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 8.23× | 10.95× | 9.66× | 7.97× | 6.29× | 10.29× |
| EV / EBITDA | 6.29× | 7.58× | 6.58× | 5.40× | 5.02× | 6.64× |
| P/S | 0.49× | 0.61× | 0.54× | 0.44× | 0.39× | 0.56× |
| P/B | 1.88× | 2.37× | 2.18× | 1.93× | 1.79× | 2.51× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 14.61B | 15.40B | 15.22B | 15.24B | 13.21B | 14.70B |
| Operating Income (Loss) | 997.00M | 1.39B | 1.40B | 1.32B | 607.00M | 1.50B |
| Income Tax Expense (Benefit) | 172.00M | 281.00M | 306.00M | 275.00M | 91.00M | 322.00M |
| Net Income (Loss) Attributable to Parent | 699.00M | 1.04B | 949.00M | 973.00M | 387.00M | 985.00M |
| Earnings Per Share, Basic | $2.16 | $3.22 | $2.93 | $3.00 | $1.18 | $3.00 |
| Weighted Average Number of Shares Outstanding, Basic | 323.90M | 324.90M | 323.70M | 324.60M | 327.70M | 328.60M |
| Earnings Per Share, Diluted | $2.14 | $3.18 | $2.90 | $2.97 | $1.16 | $2.96 |
| Weighted Average Number of Shares Outstanding, Diluted | 326.80M | 328.50M | 326.90M | 327.20M | 333.00M | 333.20M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 7.87B | 5.94B | 6.73B | 9.35B | 9.37B | 8.77B |
| Assets, Current | 19.39B | 16.86B | 18.09B | 20.26B | 20.15B | 18.88B |
| Assets | 80.94B | 76.45B | 76.31B | 77.16B | 76.11B | 74.08B |
| Liabilities, Current | 27.78B | 26.13B | 27.12B | 28.99B | 25.80B | 23.31B |
| Long-term Debt, Excluding Current Maturities | — | 17.17B | — | — | — | 21.68B |
| Stockholders' Equity Attributable to Parent | 15.88B | 15.28B | 14.31B | 13.37B | 12.62B | 12.68B |
| Common Stock, Shares, Outstanding | 324.60M | 323.47M | 323.74M | 323.80M | 327.49M | 327.90M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 4.80B | 1.29B | 7.14B | 5.93B | 3.71B | 2.22B |
| Net Cash Provided by (Used in) Investing Activities | -1.89B | -1.56B | -4.79B | -3.04B | -1.46B | -1.72B |
| Payments for Repurchase of Common Stock | 27.00M | 27.00M | 610.00M | 589.00M | 349.00M | 80.00M |
| Net Cash Provided by (Used in) Financing Activities | -976.00M | -509.00M | -4.44B | -2.30B | -1.46B | -591.00M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (UAL CIK 0000100517),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.