United Airlines Holdings UAL · USD
Industrials · Airlines · US listing · 🇺🇸 United States
S&P 500
120.38
+6.78%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$59.07bn
FY2016FY2025
Net income
$3.35bn
FY2016FY2025
Free cash flow
$2.56bn
FY2016FY2025
Shareholders' equity
$15.28bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.07bn | $57.06bn | $53.72bn | $44.95bn | $24.63bn | $15.36bn | $43.26bn | $41.30bn | $37.78bn | $36.56bn |
| Operating income | $4.71bn | $5.10bn | $4.21bn | $2.66bn | −$1.02bn | −$7.88bn | $4.30bn | $3.23bn | $3.62bn | $4.34bn |
| Net income | $3.35bn | $3.15bn | $2.62bn | $737.0m | −$1.96bn | −$7.07bn | $3.01bn | $2.12bn | $2.14bn | $2.26bn |
| Diluted earnings per share | 10.25 | 9.41 | 7.90 | 2.23 | -6.07 | -22.67 | 11.87 | 7.78 | 7.34 | 7.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $76.45bn | $74.08bn | $71.10bn | $67.36bn | $68.17bn | $59.55bn | $52.61bn | $49.02bn | $42.35bn | $40.14bn |
| Cash and short-term investments | $12.24bn | $14.47bn | $14.39bn | $16.41bn | $18.41bn | $11.68bn | $4.94bn | $3.95bn | $3.80bn | $4.43bn |
| Total liabilities | $61.17bn | $61.41bn | $61.78bn | $60.46bn | $63.15bn | $53.59bn | $41.08bn | $38.98bn | $33.61bn | $31.48bn |
| Debt | $24.99bn | $24.94bn | $29.34bn | $31.41bn | $33.66bn | $27.15bn | $14.82bn | $13.79bn | $14.39bn | $11.71bn |
| Shareholders' equity | $15.28bn | $12.68bn | $9.32bn | $6.90bn | $5.03bn | $5.96bn | $11.53bn | $10.04bn | $8.73bn | $8.66bn |
| Shares outstanding | 327m | 335m | 331m | 330m | 324m | 312m | 253m | 273m | 292m | 316m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $8.43bn | $9.45bn | $6.91bn | $6.07bn | $2.07bn | −$4.13bn | $6.91bn | $6.16bn | $3.47bn | $5.54bn |
| Capital spending | −$5.87bn | −$5.62bn | −$7.17bn | −$4.82bn | −$2.11bn | −$1.73bn | −$4.53bn | −$4.07bn | −$3.87bn | −$3.22bn |
| Free cash flow | $2.56bn | $3.83bn | −$260.0m | $1.25bn | −$40.0m | −$5.86bn | $2.38bn | $2.09bn | −$396.0m | $2.32bn |
| Dividends paid | — | — | — | — | — | −$16.04bn | — | −$1.24bn | −$1.84bn | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.67bn | $14.61bn | $15.40bn | $15.22bn | $15.24bn | $13.21bn | $14.70bn | $14.84bn |
| Operating income | $1.10bn | $997.0m | $1.39bn | $1.40bn | $1.32bn | $607.0m | $1.50bn | $1.56bn |
| Net income | $805.0m | $699.0m | $1.04bn | $949.0m | $973.0m | $387.0m | $984.0m | $965.0m |
| Diluted earnings per share | 2.46 | 2.14 | 3.19 | 2.90 | 2.98 | 1.18 | 2.94 | 2.88 |
| Cash from operations | $1.61bn | $4.80bn | $1.29bn | $1.22bn | $2.22bn | $3.71bn | $2.22bn | $1.50bn |
| Capital spending | −$1.34bn | −$1.67bn | −$1.89bn | −$1.46bn | −$1.29bn | −$1.23bn | −$1.68bn | −$1.41bn |
| Free cash flow | $266.0m | $3.13bn | −$604.0m | −$246.0m | $930.0m | $2.48bn | $549.0m | $88.0m |
| Total assets | $84.57bn | $80.94bn | $76.45bn | $76.31bn | $77.16bn | $76.11bn | $74.08bn | $72.64bn |
| Cash and short-term investments | $16.64bn | $14.17bn | $12.24bn | $13.33bn | $15.62bn | $15.33bn | $14.47bn | $14.16bn |
| Debt | $27.28bn | $24.94bn | $25.62bn | $25.99bn | $27.62bn | $28.17bn | $29.12bn | $26.13bn |
| Shareholders' equity | $16.70bn | $15.88bn | $15.28bn | $14.31bn | $13.37bn | $12.62bn | $12.68bn | $11.44bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.5% | 30.9% | 4.5% |
| Operating income | 21.0% | — | -0.9% |
| Net income | 65.7% | — | -7.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.4% | 7.8% | 3.1% | 6.3% |
| Net margin | 5.6% | 4.6% | 0.3% | 3.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.9 | 10.3 | 5.2 | 16.9 | -7.2 | -1.9 | 7.4 | 10.8 | 9.2 | 10.2 |
| Price to sales | 0.6 | 0.6 | 0.3 | 0.3 | 0.6 | 0.9 | 0.5 | 0.6 | 0.5 | 0.6 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 23% | 116% | 12% | -8% | -7% | -51% | 6% | 28% | -13% | 37% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jan 2008.
| FY2007 | |
|---|---|
| Paid in the year | 2.15 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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