United Airlines Holdings UAL Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 8.4%+0.5pp | 8%-0.3pp | 8.3%-0.3pp | 8.6%-1.1pp | 9.7%+0.8pp | |
| Net margin | 6.1%+0.4pp | 5.7%0.0pp | 5.6%-0.1pp | 5.7%-0.6pp | 6.3%+0.8pp | |
| Returns | ||||||
| Return on equity | 25.7%+1.7pp | 24%-1.6pp | 25.6%-2.1pp | 27.7%-5.9pp | 33.6%+4.9pp | |
| Return on invested capital | 10.7%+0.3pp | 10.4%0.0pp | 10.3%-1.0pp | 11.3%-1.1pp | 12.4%+1.6pp | |
| Efficiency | ||||||
| Asset turnover | 0.8×0.0× | 0.8×0.0× | 0.8×0.0× | 0.8×0.0× | 0.8×0.0× | |
| Liquidity | ||||||
| Current ratio | 0.7×+0.1× | 0.6×0.0× | 0.7×0.0× | 0.7×-0.1× | 0.8×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 2×+0.1× | 1.8×-0.4× | 2.2×-0.3× | 2.5×-0.2× | 2.6×+0.2× | |
| Net debt / EBITDA | 2.8×0.0× | 2.8×-0.3× | 3.1×+0.2× | 2.9×+0.2× | 2.7×+0.1× | |
| Valuation | ||||||
| Market capitalization | $29.78B-17.7% | $36.2B+15.9% | $31.24B+21.0% | $25.81B+14.2% | $22.6B-29.2% | |
| Price / earnings | 8.1×-2.7× | 10.8×+1.3× | 9.5×+1.7× | 7.8×+1.6× | 6.2×-4.0× | |
| Price / sales | 0.5×-0.1× | 0.6×+0.1× | 0.5×+0.1× | 0.4×+0.1× | 0.4×-0.2× | |
| Price / book | 1.9×-0.5× | 2.4×+0.2× | 2.2×+0.3× | 1.9×+0.1× | 1.8×-0.7× | |
| EV / EBITDA | 6.5×-1.0× | 7.6×+0.4× | 7.2×+1.0× | 6.2×+0.8× | 5.4×-1.2× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do United Airlines Holdings's ratios come from?
- Every ratio is computed from United Airlines Holdings's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
