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Net debt / EBITDA at other companies

Delta Air Lines logo
Delta Air LinesDAL
1.7×-0.4×
Southwest Airlines logo
Southwest AirlinesLUV
1.2×+0.2×
Alaska Air Group logo
Alaska Air GroupALK
5.8×+1.4×
ALG
Allegiant TravelALGT
-6.1×
Frontier Group Holdings, Inc. logo
Frontier Group Holdings, Inc.ULCC
195.8×
JetBlue Airways logo
JetBlue AirwaysJBLU
55.9×+39.8×

Other financials

Income statement

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Revenue$17.7B+16.0%
Operating income$1.1B-17.3%
Net income$805.0M-17.3%
EPS (diluted)$2.46-17.2%

Balance sheet

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Cash & equivalents$10.2B+6.7%
Total debt$33.7B+2.7%
Total equity$16.7B+24.9%
Total assets$84.6B+9.6%

Cash flow

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Operating cash flow$1.6B-27.4%
CapEx-$4.7B-464%
Free cash flow-$3.1B-431%

Valuation

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Market cap$39.38B+39.8%
Enterprise value$62.88B+22.3%
P/E11.3×+2.8×
P/S0.6×+0.1×

Profitability

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Operating margin7.7%-0.9pp
Net margin5.6%-0.1pp
FCF margin7%+6.0pp

Returns & leverage

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Return on equity23.3%-4.4pp
Debt / equity-0.4×
Current ratio0.8×+0.1×

Where this comes from

Calculated from United Airlines Holdings’s reported figures.

Based on the most recent quarter.

The source filing: United Airlines Holdings’s 10-Q, filed April 22, 2026. Open the filing →

Filed
Apr 22, 2026, 4:02 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000100517-26-000091

FAQ

What is United Airlines Holdings's net debt / EBITDA?
United Airlines Holdings (UAL) reported net debt / EBITDA of 2.8× in Q1 2026.
How has United Airlines Holdings's net debt / EBITDA changed year-over-year?
United Airlines Holdings's net debt / EBITDA increased by 4.8% year-over-year, from 2.7× to 2.8×.
What is the long-term trend for United Airlines Holdings's net debt / EBITDA?
Over 4 years (2021 to 2025), United Airlines Holdings's net debt / EBITDA has grown at a -33.2% compound annual growth rate (CAGR), from 14.2× to 2.8×.
What does net debt / EBITDA mean?
Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

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