(UAL) United Airlines Holdings - Overview

Sector: Industrials | Industry: Airlines | Exchange: NASDAQ (USA) | Market Cap: 31.165m USD | Total Return: 18.1% in 12m

Passenger Transport, Air Cargo, Loyalty Programs, Aircraft Maintenance
Total Rating 48
Safety 60
Buy Signal -1.05
Airlines
Industry Rotation: -0.2
Market Cap: 31.2B
Avg Turnover: 486M
Risk 3d forecast
Volatility46.1%
VaR 5th Pctl7.61%
VaR vs Median0.23%
Reward TTM
Sharpe Ratio0.55
Rel. Str. IBD25
Rel. Str. Peer Group39.5
Character TTM
Beta1.652
Beta Downside1.964
Hurst Exponent0.483
Drawdowns 3y
Max DD49.19%
CAGR/Max DD0.51
CAGR/Mean DD1.57
EPS (Earnings per Share) EPS (Earnings per Share) of UAL over the last years for every Quarter: "2021-03": -7.5, "2021-06": -3.91, "2021-09": -1.02, "2021-12": -1.6, "2022-03": -4.24, "2022-06": 1.43, "2022-09": 2.81, "2022-12": 2.46, "2023-03": -0.63, "2023-06": 5.03, "2023-09": 3.65, "2023-12": 2, "2024-03": -0.15, "2024-06": 4.14, "2024-09": 3.33, "2024-12": 3.26, "2025-03": 0.91, "2025-06": 3.87, "2025-09": 2.78, "2025-12": 3.1, "2026-03": 1.19,
EPS CAGR: -4.78%
EPS Trend: 14.4%
Last SUE: 1.02
Qual. Beats: 2
Revenue Revenue of UAL over the last years for every Quarter: 2021-03: 3221, 2021-06: 5471, 2021-09: 7750, 2021-12: 8192, 2022-03: 7566, 2022-06: 12112, 2022-09: 12877, 2022-12: 12400, 2023-03: 11429, 2023-06: 14178, 2023-09: 14484, 2023-12: 13626, 2024-03: 12539, 2024-06: 14986, 2024-09: 14843, 2024-12: 14695, 2025-03: 13212, 2025-06: 15236, 2025-09: 15225, 2025-12: 15397, 2026-03: 14608,
Rev. CAGR: 5.12%
Rev. Trend: 74.0%
Last SUE: 1.61
Qual. Beats: 1

Warnings

Altman Z'' 0.39 < 1.0 - financial distress zone

Choppy

Tailwinds

No distinct edge detected

Description: UAL United Airlines Holdings

United Airlines Holdings, Inc. (UAL) operates a comprehensive global air transportation network, providing passenger and cargo services across North America, the Atlantic, the Pacific, and Latin America. Headquartered in Chicago, the company utilizes a hub-and-spoke business model, which centralizes operations at major airports to maximize flight connectivity and aircraft utilization. Beyond core flight operations, the company generates revenue through third-party maintenance, ground handling, and a high-margin loyalty program.

The passenger airline industry is characterized by high fixed costs and significant sensitivity to jet fuel price volatility and macroeconomic shifts. United distributes its services via direct digital channels and third-party intermediaries to capture both leisure and corporate travel segments. For a deeper look into the companys financial health, consider evaluating the latest metrics on ValueRay. The firm operates a diverse fleet consisting of both mainline aircraft and regional carriers to optimize route efficiency.

Headlines to Watch Out For
  • Premium cabin demand and international route expansion drive higher passenger yields
  • Jet fuel price volatility significantly impacts operating margins and net income
  • Labor contract negotiations and pilot shortages increase long-term structural operating costs
  • Boeing delivery delays constrain capacity growth and fleet modernization initiatives
  • Corporate travel recovery pace determines high-margin revenue growth in domestic markets
Piotroski VR‑10 (Strict) 6.5
Net Income: 3.67b TTM > 0 and > 6% of Revenue
FCF/TA: 0.04 > 0.02 and ΔFCF/TA -2.38 > 1.0
NWC/Revenue: -13.87% < 20% (prev -9.79%; Δ -4.09% < -1%)
CFO/TA 0.12 > 3% & CFO 9.52b > Net Income 3.67b
Net Debt (23.10b) to EBITDA (8.43b): 2.74 < 3
Current Ratio: 0.70 > 1.5 & < 3
Outstanding Shares: last quarter (326.8m) vs 12m ago -1.86% < -2%
Gross Margin: 64.24% > 18% (prev 0.38%; Δ 6.39k% > 0.5%)
Asset Turnover: 77.00% > 50% (prev 75.86%; Δ 1.14% > 0%)
Interest Coverage Ratio: 4.61 > 6 (EBITDA TTM 8.43b / Interest Expense TTM 1.19b)
Altman Z'' 0.39
A: -0.10 (Total Current Assets 19.39b - Total Current Liabilities 27.78b) / Total Assets 80.94b
B: 0.13 (Retained Earnings 10.73b / Total Assets 80.94b)
C: 0.07 (EBIT TTM 5.46b / Avg Total Assets 78.53b)
D: 0.17 (Book Value of Equity 10.76b / Total Liabilities 65.06b)
Altman-Z'' Score: 0.39 = B
Beneish M -3.41
DSRI: 1.11 (Receivables 2.66b/2.29b, Revenue 60.47b/57.74b)
GMI: 0.59 (GM 64.24% / 38.15%)
AQI: 0.89 (AQ_t 0.10 / AQ_t-1 0.11)
SGI: 1.05 (Revenue 60.47b / 57.74b)
TATA: -0.07 (NI 3.67b - CFO 9.52b) / TA 80.94b)
Beneish M-Score: -3.41 (Cap -4..+1) = AA
What is the price of UAL shares? As of May 18, 2026, the stock is trading at USD 92.85 with a total of 5,045,510 shares traded.
Over the past week, the price has changed by -6.76%, over one month by -8.79%, over three months by -18.57% and over the past year by +18.10%.
Is UAL a buy, sell or hold? United Airlines Holdings has received a consensus analysts rating of 4.44. Therefore, it is recommended to buy UAL.
  • StrongBuy: 16
  • Buy: 6
  • Hold: 2
  • Sell: 0
  • StrongSell: 1
What are the forecasts/targets for the UAL price?
Analysts Target Price 129.8 39.8%
United Airlines Holdings (UAL) - Fundamental Data Overview as of 16 May 2026
P/E Trailing = 8.5886
P/E Forward = 9.5511
P/S = 0.5154
P/B = 2.0358
P/EG = 6.5026
Revenue TTM = 60.47b USD
EBIT TTM = 5.46b USD
EBITDA TTM = 8.43b USD
Long Term Debt = 21.94b USD (from longTermDebt, last quarter)
Short Term Debt = 3.00b USD (from shortTermDebt, last quarter)
Debt = 30.97b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 23.10b USD (from netDebt column, last quarter)
Enterprise Value = 47.97b USD (31.17b + Debt 30.97b - CCE 14.17b)
Interest Coverage Ratio = 4.61 (Ebit TTM 5.46b / Interest Expense TTM 1.19b)
EV/FCF = 14.96x (Enterprise Value 47.97b / FCF TTM 3.21b)
FCF Yield = 6.69% (FCF TTM 3.21b / Enterprise Value 47.97b)
FCF Margin = 5.30% (FCF TTM 3.21b / Revenue TTM 60.47b)
Net Margin = 6.06% (Net Income TTM 3.67b / Revenue TTM 60.47b)
Gross Margin = 64.24% ((Revenue TTM 60.47b - Cost of Revenue TTM 21.62b) / Revenue TTM)
Gross Margin QoQ = 63.27% (prev 64.14%)
Tobins Q-Ratio = 0.59 (Enterprise Value 47.97b / Total Assets 80.94b)
Interest Expense / Debt = 0.88% (Interest Expense 273.0m / Debt 30.97b)
Taxrate = 19.77% (172.0m / 870.0m)
NOPAT = 4.38b (EBIT 5.46b * (1 - 19.77%))
Current Ratio = 0.70 (Total Current Assets 19.39b / Total Current Liabilities 27.78b)
Debt / Equity = 1.95 (Debt 30.97b / totalStockholderEquity, last quarter 15.88b)
Debt / EBITDA = 2.74 (Net Debt 23.10b / EBITDA 8.43b)
Debt / FCF = 7.20 (Net Debt 23.10b / FCF TTM 3.21b)
Total Stockholder Equity = 14.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.67% (Net Income 3.67b / Total Assets 80.94b)
RoE = 24.91% (Net Income TTM 3.67b / Total Stockholder Equity 14.71b)
RoCE = 14.91% (EBIT 5.46b / Capital Employed (Equity 14.71b + L.T.Debt 21.94b))
RoIC = 10.92% (NOPAT 4.38b / Invested Capital 40.13b)
WACC = 6.27% (E(31.17b)/V(62.14b) * Re(11.79%) + D(30.97b)/V(62.14b) * Rd(0.88%) * (1-Tc(0.20)))
Discount Rate = 11.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -46.67 | Cagr: -0.61%
[DCF] Terminal Value 79.37% ; FCFF base≈3.85b ; Y1≈2.53b ; Y5≈1.16b
[DCF] Fair Price = 33.38 (EV 33.94b - Net Debt 23.10b = Equity 10.83b / Shares 324.6m; r=6.27% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 14.36 | EPS CAGR: -4.78% | SUE: 1.02 | # QB: 2
Revenue Correlation: 74.00 | Revenue CAGR: 5.12% | SUE: 1.61 | # QB: 1
EPS current Quarter (2026-06-30): EPS=1.67 | Chg30d=-17.25% | Revisions=-73% | Analysts=21
EPS next Quarter (2026-09-30): EPS=2.58 | Chg30d=-10.88% | Revisions=-64% | Analysts=20
EPS current Year (2026-12-31): EPS=9.14 | Chg30d=-4.92% | Revisions=-69% | GrowthEPS=-14.0% | GrowthRev=+13.1%
EPS next Year (2027-12-31): EPS=14.08 | Chg30d=-2.27% | Revisions=-52% | GrowthEPS=+54.1% | GrowthRev=+4.3%
[Analyst] Revisions Ratio: -73%