United Airlines Holdings, Inc. — UAL

Close PriceMarket CapP/E RatioForward P/E RatioImplied Growth*Implied Forward Growth*DividendP/B Ratio
$114.80$37.26B10.38.14.7%2.3%-2.4

Latest Headlines

Revenue & Net Income

Revenue & Net Income
Date Revenue Net_Income EPS Last_Updated Revenue_Change Net_Income_Change EPS_Change
0 2020-12-31 $15,355M $-7,069M $-22.67 2024-02-08 22:12:48 N/A N/A N/A
1 2021-12-31 $24,634M $-1,964M $-6.07 2026-02-13 08:46:28 60.4% -72.2% -73.2%
2 2022-12-31 $44,955M $737M $2.25 2026-05-29 09:15:29 82.5% -137.5% -137.2%
3 2023-12-31 $53,717M $2,618M $7.98 2026-05-29 09:15:29 19.5% 255.2% 254.0%
4 2024-12-31 $57,063M $3,149M $9.60 2026-05-29 09:15:29 6.2% 20.3% 20.3%
5 2025-12-31 $59,070M $3,353M $10.37 2026-05-29 09:15:29 3.5% 6.5% 7.9%
6 TTM 2026-03-31 $60,465M $3,665M $11.18 2026-04-24 08:51:16 2.4% 9.3% 7.9%

EPS

EPS

Forecasts

Revenue/Net Income Forecast EPS Forecast

Y/Y % Change

Revenue YoY Change EPS YoY Change
YoY Growth Rates

UAL Year-over-Year Growth

  2020 2021 2022 2023 2024 2025 2026 2027 Average
Revenue Growth (%) 60.4% 82.5% 19.5% 6.2% 3.5% 13.0% 4.3% 27.1%
Revenue Analysts (#) 0 0 0 0 0 0 21 21
EPS Growth (%) -72.2% -137.5% 255.2% 20.3% 6.5% -10.2% 53.3% 16.5%
EPS Analysts (#) 0 0 0 0 0 0 24 24

Forward Estimate History

How the next-FY EPS and revenue estimates have drifted over time. One line per fiscal year – past lines end when that FY became current.

Forward EPS projection history by FY Forward revenue projection history by FY

Expenses

Revenue vs Expenses
Year Revenue ($) Cost of Revenue ($) Sales & Marketing ($) SG&A ($) Facilities / D&A ($)
2022 $45.0B $31.9B $1.5B $1.5B $2.5B
2023 $53.7B $35.8B $2.0B $2.0B $2.7B
2024 $57.1B $37.6B $2.2B $2.2B $2.9B
2025 $59.1B $39.1B $2.1B $2.1B $2.9B
TTM $60.5B $38.9B $2.1B $2.1B $4.2B
Expenses % of Revenue
Year Revenue Change (%) Cost of Revenue Change (%) Sales & Marketing Change (%) SG&A Change (%) Facilities / D&A Change (%)
2023 19.49 12.52 28.79 28.79 8.75
2024 6.23 5.01 12.85 12.85 9.62
2025 3.52 3.95 -5.47 -5.47 0.38
TTM 2.36 -0.56 1.23 1.23 43.18
No unmapped expenses.

Segment Performance

axis1_UAL_Passenger.png axis1_UAL_Product_And_Service_Other.png axis1_UAL_Passenger_Ancillary_Fees.png axis1_UAL_Cargo_And_Freight.png
SEGMENTS v2025-09-09 · 2026-05-29 09:15 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
Year Passenger Rev Product And Service Other Rev Passenger Ancillary Fees Rev Cargo And Freight Rev Total Rev
2023 98.1B 9.05B 4.10B 2.99B 114.2B
2024 103.7B 9.88B 4.50B 3.49B 121.5B
2025 106.9B 10.9B 4.80B 3.56B 126.1B
TTM 260.6B 26.3B 11.5B 8.75B 307.1B
% of Total (TTM) 84.8% 8.6% 3.7% 2.8% 100%

Balance Sheet

Balance Sheet
  Metric Value
0 Total Assets $80,941M
1 Cash $7,869M
2 Total Liabilities $65,065M
3 Total Debt $30,971M
4 Total Equity $15,876M
5 Debt to Equity Ratio 1.95

EPS & Dividend

EPS & Dividend

Valuation

Valuation
Share Price Treasury Yield Estimates Fair Value (P/E) Fair Value (P/S) Current P/S Current P/E
$114.80 4.5% Nicks Growth: 2%
Nick's Expected Margin: 7%
FINVIZ Growth: 17%
Nicks: 8
Finviz: 32
Nick's: 0.546 0.6 10.3
Basis Year Nicks Valuation Nicks vs Share Price Finviz Valuation Finviz vs Share Price
$11.18 EPS TTM $87.21 -24.0% $362.31 215.6%
$9.27 EPS 2026 $72.34 -37.0% $300.51 161.8%
$14.22 EPS 2027 $110.91 -3.4% $460.74 301.3%

Implied Growth

Implied Growth
Average Median Std Dev Current Percentile
TTM Forward TTM Forward TTM Forward TTM Forward TTM Forward
Timeframe
1 Year 3.84% 1.45% 3.84% 1.49% 1.10% 1.11% 4.74% 2.36% 76.4% 73.1%
3 Years 3.84% 1.45% 3.84% 1.49% 1.10% 1.11% 4.74% 2.36% 76.4% 73.1%
5 Years 3.84% 1.45% 3.84% 1.49% 1.10% 1.11% 4.74% 2.36% 76.4% 73.1%
10 Years 3.84% 1.45% 3.84% 1.49% 1.10% 1.11% 4.74% 2.36% 76.4% 73.1%

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