United Airlines Holdings

Industrials Passenger Airlines Chicago, Illinois Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$59.1B
                    3y CAGR +9.5%
                    
                    P76
                    
                    +3.5%
                    
                    Net income
                    FY2025
                
$3.4B
                    Net margin +5.7%
                    
                    P16
                    
                    +6.5%
                    
                    Total assets
                    FY2025
                
$76.4B
                    ROA +4.4%
                    
                    P16
                    
                    +3.2%
                    
                    Operating cash flow
                    FY2025
                
$8.4B
                    
                    -10.7%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 10 years

Total assets $76.4B

Total liabilities $26.1B

Shareholders equity $15.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	10.1%	15.4%	11.3%	15.9%	74.2%	73.4%	6.4%	4.1%	3.9%	6.0%
Short Term Investments	10.7%	10.0%	15.5%	20.6%	0.5%	2.7%	5.0%	5.5%	6.1%	6.2%
Accounts Receivable	4.0%	3.8%	3.5%	4.0%	6.8%	8.4%	3.2%	3.3%	3.5%	3.2%
Inventory	2.6%	2.8%	2.9%	2.5%	4.0%	6.1%	2.5%	2.4%	2.4%	2.4%
Prepaid Expenses	1.1%	1.2%	1.1%	1.5%	3.0%	4.1%	1.9%	2.2%	2.8%	2.3%
Total Current Assets	28.5%	33.1%	34.4%	44.6%	88.6%	96.4%	18.9%	17.4%	18.8%	20.0%
Property,Plant and Equipment	78.1%	75.2%	74.1%	76.6%	130.2%	204.9%	0.0%	68.6%	69.4%	63.8%
Operating Lease Assets	8.4%	6.7%	7.3%	8.7%	18.9%	29.5%	11.0%	—	—	—
Goodwill	7.7%	7.9%	8.4%	10.1%	18.4%	29.5%	10.5%	11.0%	12.0%	12.4%
Intangible Assets	4.5%	4.7%	5.1%	6.1%	11.4%	18.5%	7.0%	7.6%	9.4%	9.9%
Other Noncurrent Assets	0.0%	0.3%	16.5%	19.9%	39.1%	57.0%	21.9%	22.4%	23.8%	26.0%
Total Assets	129.4%	129.8%	132.4%	149.8%	276.8%	387.8%	121.6%	108.4%	112.0%	109.8%
Liabilities
Accounts Payable	7.7%	7.3%	7.1%	7.6%	10.4%	10.4%	6.2%	5.7%	5.8%	5.9%
Accrued Liabilities	6.6%	5.8%	5.5%	4.4%	8.6%	12.8%	5.2%	1.5%	1.5%	2.8%
Operating Lease Liabilities	1.1%	0.8%	1.1%	1.2%	2.3%	4.0%	1.6%	—	—	—
Other Current Liabilities	1.3%	1.7%	1.5%	1.7%	2.3%	4.7%	1.3%	—	—	—
Total Current Liabilities	44.2%	40.9%	41.3%	44.5%	74.3%	82.9%	34.5%	32.0%	33.5%	33.6%
Long Term Debt	34.8%	38.0%	46.6%	62.9%	123.2%	161.7%	30.4%	29.6%	31.0%	27.1%
Operating Lease Liabilities Noncurrent	9.2%	7.9%	8.4%	9.9%	20.9%	32.5%	11.4%	2.7%	—	—
Deferred Tax Liabilities	4.2%	2.8%	1.1%	16.4%	27.7%	42.2%	4.0%	2.0%	8.6%	14.5%
Other Noncurrent Liabilities	2.5%	2.7%	2.6%	3.0%	5.2%	7.5%	2.4%	19.9%	21.6%	23.1%
Total Liabilities	44.2%	40.9%	41.3%	44.5%	74.3%	82.9%	34.5%	32.0%	33.5%	33.6%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	15.1%	15.7%	16.7%	20.0%	37.2%	54.5%	14.2%	14.8%	16.1%	18.0%
Retained Earnings	17.1%	12.1%	7.1%	2.8%	2.5%	17.1%	22.5%	16.1%	12.2%	9.4%
Treasury Stock	1.1%	0.3%	6.4%	0.0%	15.5%	25.4%	8.3%	4.8%	2.0%	1.4%
Accumulated Other Comprehensive Income	0.1%	0.3%	-0.1%	0.4%	-3.8%	-7.4%	-1.7%	-1.9%	-3.0%	-2.3%
Total Stockholders Equity	25.9%	22.2%	17.4%	15.3%	20.4%	38.8%	26.7%	24.3%	23.3%	23.5%
Total Liabilitiesand Equity	129.4%	129.8%	132.4%	149.8%	276.8%	387.8%	121.6%	108.4%	112.0%	109.8%

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $59.1B

Operating income $4.7B

Net income $3.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	92.0%	91.1%	92.2%	94.8%	104.1%	141.4%	90.1%	92.2%	90.4%	88.1%
Expenses Depreciation and Amortization	5.0%	5.1%	5.0%	5.5%	10.1%	16.2%	5.3%	5.2%	5.5%	5.4%
Expenses Share Based Compensation	0.3%	0.2%	0.1%	0.2%	1.0%	0.7%	0.2%	0.2%	0.2%	0.2%
Expenses Restructuring and Asset Impairment	0.0%	0.3%	0.2%	0.0%	0.1%	9.4%	0.4%	0.0%	0.0%	0.2%
Expenses Operating Expenses	92.0%	91.1%	92.2%	94.8%	104.1%	141.4%	90.1%	92.2%	90.4%	88.1%
Other Income Expense Operating Income	8.0%	8.9%	7.8%	5.2%	-4.1%	-41.4%	9.9%	7.8%	9.6%	11.9%
Other Income Expense Interest Income	1.0%	1.3%	1.5%	0.7%	0.1%	0.3%	0.3%	0.2%	0.2%	0.1%
Other Income Expense Interest Expense	2.3%	2.9%	3.6%	4.0%	0.1%	0.1%	0.2%	1.6%	1.7%	1.8%
Other Income Expense Other Income/expense	0.2%	-0.1%	0.2%	0.0%	0.2%	-8.6%	-0.1%	-0.2%	-0.3%	-0.0%
Other Income Expense Income Before Tax	7.3%	7.3%	6.3%	2.2%	-10.4%	-57.5%	9.0%	6.4%	8.0%	10.3%
Income Tax Income Tax Expense	1.6%	1.8%	1.4%	0.6%	-2.4%	-11.4%	2.1%	1.3%	2.3%	4.2%
net Income net Income	5.7%	5.5%	4.9%	1.6%	-8.0%	-46.0%	7.0%	5.1%	5.7%	6.1%
net Income Comprehensive Income	5.4%	6.0%	4.4%	4.1%	-7.2%	-48.8%	7.2%	6.0%	5.1%	6.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.6%	0.6%	0.6%	0.7%	1.3%	1.8%	0.6%	0.7%	0.8%	0.9%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.6%	0.6%	0.7%	1.3%	1.8%	0.6%	0.7%	0.8%	0.9%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 10 years

Operating cash flow $8.4B

Investing cash flow $-6.3B

Financing cash flow $-4.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	5.7%	5.5%	4.9%	1.6%	-8.0%	-46.0%	7.0%	5.1%	5.7%	6.1%
Operating Activities Depreciation and Amortization	5.0%	5.1%	5.0%	5.5%	10.1%	16.2%	5.3%	5.2%	5.5%	5.4%
Operating Activities Stock Based Compensation	0.3%	0.2%	0.1%	0.2%	1.0%	0.7%	0.2%	0.2%	0.2%	0.2%
Operating Activities Deferred Income Taxes	1.6%	1.6%	1.4%	0.6%	-2.4%	-11.3%	2.0%	1.2%	2.5%	4.5%
Operating Activities Changes In Operating Assets and Liabilities	1.6%	0.6%	1.9%	2.0%	5.2%	-7.0%	0.7%	0.3%	0.2%	0.7%
Operating Activities Other Non Cash Items	-0.1%	0.0%	0.0%	0.5%	0.9%	1.5%	0.4%	0.4%	0.4%	0.3%
Operating Activities net Cash From Operating Activities	14.3%	16.6%	12.9%	13.5%	8.4%	-26.9%	16.0%	14.9%	9.2%	—
Investing Activities Other Investing Activities	0.2%	-0.0%	0.0%	0.2%	0.0%	-0.0%	-0.1%	-0.4%	-0.4%	-0.3%
Investing Activities net Cash From Investing Activities	-10.7%	-4.6%	-11.4%	-30.8%	-6.8%	0.3%	-10.5%	-10.8%	-10.1%	—
Financing Activities Repayment of Debt	8.1%	17.8%	7.9%	8.9%	21.1%	29.0%	3.2%	4.2%	2.4%	3.3%
Financing Activities Repurchase of Common Stock	1.1%	0.3%	0.0%	0.0%	0.0%	2.3%	3.8%	3.0%	4.9%	7.2%
Financing Activities Other Financing Activities	-0.2%	-0.0%	-0.1%	-0.2%	-0.1%	-0.1%	-0.1%	-0.0%	-0.0%	0.0%
Financing Activities net Cash From Financing Activities	-8.4%	-7.3%	-3.5%	-7.4%	26.0%	84.4%	-3.0%	-3.6%	-1.0%	—
Cash Reconciliation Effect of Exchange Rate On Cash	10.3%	15.7%	11.8%	16.5%	75.2%	76.5%	6.6%	4.4%	4.2%	6.3%
Cash Reconciliation net Change In Cash	-4.9%	4.6%	-2.0%	-24.7%	27.6%	57.8%	2.5%	0.5%	-1.9%	-2.5%
Cash Reconciliation Cash At Beginning of Period	10.3%	15.7%	11.8%	16.5%	75.2%	76.5%	6.6%	4.4%	4.2%	6.3%
Cash Reconciliation Cash At End of Period	10.3%	15.7%	11.8%	16.5%	75.2%	76.5%	6.6%	4.4%	4.2%	6.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+8.0%	+8.9%	+7.8%	+5.2%	-4.1%	-41.4%	+9.9%	+7.8%	+9.6%	+11.9%
Operating margin	+8.0%	+8.9%	+7.8%	+5.2%	-4.1%	-41.4%	+9.9%	+7.8%	+9.6%	+11.9%
Net margin	+5.7%	+5.5%	+4.9%	+1.6%	-8.0%	-46.0%	+7.0%	+5.1%	+5.7%	+6.1%
FCF margin	—	—	—	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	+9.5%	+32.3%	+51.8%	+1.3%	-15.8%	-25.9%	+5.8%	+2.9%	-1.0%	-1.5%
Returns
ROE	+21.9%	+24.8%	+28.1%	+10.7%	-39.1%	-118.6%	+26.1%	+21.1%	+24.4%	+26.1%
ROA	+4.4%	+4.3%	+3.7%	+1.1%	-2.9%	-11.9%	+5.7%	+4.7%	+5.1%	+5.6%
ROIC	+12.3%	+13.5%	+10.1%	+5.6%	-5.1%	-29.7%	+14.2%	+11.9%	+12.5%	+15.0%
Liquidity
Current ratio	0.65x	0.81x	0.83x	1.00x	1.19x	1.16x	0.55x	0.54x	0.56x	0.59x
Quick ratio	0.32x	0.47x	0.36x	0.45x	1.09x	0.99x	0.28x	0.23x	0.22x	0.27x
Leverage
D/E	1.71x	1.84x	2.38x	2.90x	3.64x	2.14x	1.30x	1.32x	1.44x	1.43x
Interest coverage	3.43x	3.13x	2.15x	1.31x	-63.88x	-397.44x	50.60x	4.82x	5.78x	6.45x
Efficiency
Asset turnover	0.77x	0.77x	0.76x	0.67x	0.36x	0.26x	0.82x	0.92x	0.89x	0.91x
Cash conversion cycle	-5d	-5d	-4d	-5d	+2d	+20d	-4d	-1d	-1d	-3d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

United Airlines Holdings

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history