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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×+1.1×
United Parcel Service, Inc. logo
United Parcel Service, Inc.UPS
-0×-0.1×
Uber Technologies logo
Uber TechnologiesUBER
0.6×+0.1×
Expeditors International of Washington logo
Expeditors International of WashingtonEXPD
-0.7×0.0×

Other financials

Income statement

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Revenue$14.6B+10.6%
Operating income$997.0M+64.3%
Net income$699.0M+80.6%
EPS (diluted)$2.14+84.5%

Balance sheet

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Cash & equivalents$8.0B-17.7%
Total debt$31.0B-5.9%
Total equity$15.9B+25.8%
Total assets$80.9B+6.4%

Cash flow

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Operating cash flow$4.8B+29.3%
CapEx$1.7B+35.6%
Free cash flow$3.1B+26.2%

Valuation

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Market cap$37.59B+31.7%
Enterprise value$60.55B+15.2%
P/E10.3×+2.5×
P/S0.6×+0.1×

Profitability

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Operating margin8.4%-1.3pp
Net margin6.1%-0.3pp

Returns & leverage

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Return on equity25.7%-7.8pp
Debt / equity-0.7×
Current ratio0.7×-0.1×

Where this comes from

Calculated from United Airlines Holdings’s reported figures.

Based on the most recent quarter.

The official record: United Airlines Holdings’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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 3 years (2022 to 2025), United Airlines Holdings's net debt / EBITDA has grown at a -31.5% compound annual growth rate (CAGR), from 36.1× to 11.6×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.