United Airlines Holdings

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

                    Revenue
                    FY2025
                
$59.1B
                    3y CAGR +9.5%
                    
                    P76
                    
                    n/a
                    
                    Net income
                    FY2025
                
$3.4B
                    Net margin +5.7%
                    
                    P16
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$76.4B
                    ROA +4.4%
                    
                    P16
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$8.4B
                    
                    n/a

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 1 year

Total assets $76.4B

Total liabilities $26.1B

Shareholders equity $15.3B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$5.9B
Short Term Investments	$6.3B
Accounts Receivable	$2.4B
Inventory	$1.6B
Prepaid Expenses	$671.0M
Total Current Assets	$16.9B
Property,Plant and Equipment	$46.1B
Operating Lease Assets	$5.0B
Goodwill	$4.5B
Intangible Assets	$2.7B
Other Noncurrent Assets	$0
Total Assets	$76.4B
Liabilities
Accounts Payable	$4.6B
Accrued Liabilities	$3.9B
Operating Lease Liabilities	$631.0M
Other Current Liabilities	$757.0M
Total Current Liabilities	$26.1B
Long Term Debt	$20.6B
Operating Lease Liabilities Noncurrent	$5.4B
Deferred Tax Liabilities	$2.5B
Other Noncurrent Liabilities	$1.5B
Total Liabilities	$26.1B
Equity
Preferred Stock	$0
Common Stock	$4.0M
Additional Paid In Capital	$8.9B
Retained Earnings	$10.1B
Treasury Stock	$641.0M
Accumulated Other Comprehensive Income	$48.0M
Total Stockholders Equity	$15.3B
Total Liabilitiesand Equity	$76.4B

Income Statement

Revenue, expense, and profitability

18 accounts · 1 year

Revenue $59.1B

Operating income $4.7B

Net income $3.4B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$59.1B
Expenses Cost of Revenue	$54.4B
Expenses Depreciation and Amortization	$2.9B
Expenses Share Based Compensation	$148.0M
Expenses Restructuring and Asset Impairment	$13.0M
Expenses Operating Expenses	$54.4B
Other Income Expense Operating Income	$4.7B
Other Income Expense Interest Income	$611.0M
Other Income Expense Interest Expense	$1.4B
Other Income Expense Other Income/expense	$144.0M
Other Income Expense Income Before Tax	$4.3B
Income Tax Income Tax Expense	$953.0M
net Income net Income	$3.4B
net Income Comprehensive Income	$3.2B
Earnings Per Share Basic Eps	$10
Earnings Per Share Diluted Eps	$10
Earnings Per Share Weighted Average Shares Basic	$324.9M
Earnings Per Share Weighted Average Shares Diluted	$328.5M

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 1 year

Operating cash flow $8.4B

Investing cash flow $-6.3B

Financing cash flow $-4.9B

Account	2025	Trend
CashFlow
Operating Activities net Income	$3.4B
Operating Activities Depreciation and Amortization	$2.9B
Operating Activities Stock Based Compensation	$148.0M
Operating Activities Deferred Income Taxes	$925.0M
Operating Activities Changes In Operating Assets and Liabilities	$938.0M
Operating Activities Other Non Cash Items	$-62.0M
Operating Activities net Cash From Operating Activities	$8.4B
Investing Activities Other Investing Activities	$96.0M
Investing Activities net Cash From Investing Activities	$-6.3B
Financing Activities Repayment of Debt	$4.8B
Financing Activities Repurchase of Common Stock	$637.0M
Financing Activities Other Financing Activities	$-115.0M
Financing Activities net Cash From Financing Activities	$-4.9B
Cash Reconciliation Effect of Exchange Rate On Cash	$6.1B
Cash Reconciliation net Change In Cash	$-2.9B
Cash Reconciliation Cash At Beginning of Period	$6.1B
Cash Reconciliation Cash At End of Period	$6.1B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+8.0%
Operating margin	+8.0%
Net margin	+5.7%
FCF margin	—
Growth
Revenue CAGR (3y)	+9.5%
Returns
ROE	+21.9%
ROA	+4.4%
ROIC	+12.3%
Liquidity
Current ratio	0.65x
Quick ratio	0.32x
Leverage
D/E	1.71x
Interest coverage	3.43x
Efficiency
Asset turnover	0.77x
Cash conversion cycle	-5d

Valuation

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FY2025 fundamentals · no price

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United Airlines Holdings

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