United Airlines Holdings, Inc. — UAL
| Close Price | Market Cap | P/E Ratio | Forward P/E Ratio | Implied Growth* | Implied Forward Growth* | Dividend | P/B Ratio |
|---|---|---|---|---|---|---|---|
| $106.14 | $34.36B | 10.6 | 8.8 | 4.7% | 2.8% | - | 2.6 |
Revenue & Net Income
| Date | Revenue | Net Income | EPS | Revenue Change | Net Income Change | EPS Change | |
|---|---|---|---|---|---|---|---|
| 0 | 2020-12-31 | $15.4B | $-7.1B | $-22.67 | N/A | N/A | N/A |
| 1 | 2021-12-31 | $24.6B | $-2.0B | $-6.07 | 60.4% | -72.2% | -73.2% |
| 2 | 2022-12-31 | $45.0B | $737.0M | $2.25 | 82.5% | -137.5% | -137.2% |
| 3 | 2023-12-31 | $53.7B | $2.6B | $7.98 | 19.5% | 255.2% | 254.0% |
| 4 | 2024-12-31 | $57.1B | $3.1B | $9.58 | 6.2% | 20.3% | 20.1% |
| 5 | TTM 2025-03-31 | $57.7B | $3.7B | $10.99 | 1.2% | 16.2% | 14.7% |
| 6 | Average | 34.0% | 16.4% | 15.7% |
EPS
Forecasts
Y/Y % Change
UAL Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Average | |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 60.4% | 82.5% | 19.5% | 6.2% | 3.1% | 8.2% | 30.0% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 7 | 7 | |
| EPS Growth (%) | -72.2% | -137.5% | 255.2% | 20.3% | 5.6% | 21.4% | 15.5% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 9 | 9 |
Expenses
| Year | Revenue ($) | Cost of Revenue ($) | Sales & Marketing ($) | SG&A ($) | Facilities / D&A ($) |
|---|---|---|---|---|---|
| 2021 | $24.6B | $21.4B | $677.0M | $677.0M | $2.5B |
| 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 |
| TTM | $58.0B | $37.1B | $2.1B | $2.1B | $3.8B |
| Year | Revenue Change (%) | Cost of Revenue Change (%) | Sales & Marketing Change (%) | SG&A Change (%) | Facilities / D&A Change (%) |
|---|---|---|---|---|---|
| 2022 | 82.49 | 48.68 | 126.74 | 126.74 | -1.17 |
| 2023 | 19.49 | 12.52 | 28.79 | 28.79 | 8.75 |
| 2024 | 6.23 | 5.01 | 12.85 | 12.85 | 9.62 |
| TTM | 1.62 | -1.34 | -5.51 | -5.51 | 30.77 |
No unmapped expenses.
Segment Performance
SEGMENTS v2025-09-09 · 2025-09-05 15:07 UTC — Values are shown in a single scale for this table: $B. TTM values are bold. “% of Total (TTM)” shows revenue mix.
| Segment | 2022 Rev ($B) | 2022 OI ($B) | 2023 Rev ($B) | 2023 OI ($B) | 2024 Rev ($B) | 2024 OI ($B) | TTM Rev ($B) | TTM OI ($B) | % of Total (TTM) |
|---|---|---|---|---|---|---|---|---|---|
| Passenger | 80.1B | 0.00B | 98.1B | 0.00B | 104B | 0.00B | 105B | 0.00B | 84.9% |
| Product And Service Other | 7.90B | 0.00B | 9.05B | 0.00B | 9.88B | 0.00B | 10.6B | 0.00B | 8.5% |
| Passenger Ancillary Fees | 3.40B | 0.00B | 4.10B | 0.00B | 4.50B | 0.00B | 4.50B | 0.00B | 3.6% |
| Cargo And Freight | 4.34B | 0.00B | 2.99B | 0.00B | 3.49B | 0.00B | 3.63B | 0.00B | 2.9% |
| Ancillary Services | – | – | – | – | – | – | 0.00B | 0.00B | 0.0% |
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $76,111M |
| 1 | Cash | $9,370M |
| 2 | Total Liabilities | $63,495M |
| 3 | Total Debt | $32,925M |
| 4 | Total Equity | $12,616M |
| 5 | Debt to Equity Ratio | 2.61 |
EPS & Dividend
Valuation
| Share Price | Treasury Yield | Estimates | Fair Value (P/E) | Fair Value (P/S) | Current P/S | Current P/E |
|---|---|---|---|---|---|---|
| $74.27 | 4.4% | Nicks Growth: 2% Nick's Expected Margin: 7% FINVIZ Growth: 10% |
Nicks: 8 Finviz: 18 |
Nick's: 0.550 | 0.4 | 6.8 |
| Basis | Year | Nicks Valuation | Nicks vs Share Price | Finviz Valuation | Finviz vs Share Price |
|---|---|---|---|---|---|
| $10.99 EPS | TTM | $86.42 | 16.4% | $193.77 | 160.9% |
| $9.95 EPS | 2025 | $78.24 | 5.3% | $175.43 | 136.2% |
| $12.09 EPS | 2026 | $95.07 | 28.0% | $213.17 | 187.0% |
Implied Growth
| Average | Median | Std Dev | Current | Percentile | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | |
| Timeframe | ||||||||||
| 1 Year | 3.07% | 1.51% | 3.19% | 1.39% | 1.28% | 0.91% | 4.81% | 2.87% | 98.3% | 98.3% |
| 3 Years | 3.07% | 1.51% | 3.19% | 1.39% | 1.28% | 0.91% | 4.81% | 2.87% | 98.3% | 98.3% |
| 5 Years | 3.07% | 1.51% | 3.19% | 1.39% | 1.28% | 0.91% | 4.81% | 2.87% | 98.3% | 98.3% |
| 10 Years | 3.07% | 1.51% | 3.19% | 1.39% | 1.28% | 0.91% | 4.81% | 2.87% | 98.3% | 98.3% |