Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026
Basics
Sector
Industrials
Industry
Airlines
Country
United States
Market cap
34.8B USD
Enterprise value
41.0B USD
Full-time employees
117,500
Overall health
Strength:its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback:higher risk than most peers: its share price swings more than most peers’ (beta 1.27 vs a peer median of 0.64), less short-term liquidity (current ratio 0.78 vs a peer median of 1.62) and more debt relative to equity (1.58× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.27 vs peers 0.64), less liquidity (current ratio 0.78 vs peers 1.62) and more debt vs equity (1.58× vs peers 0.40×)
About average: profitability and growth
Ranks #1,110 of 2,308 industrials companies (top 49%)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 90 → 89
Share price +2.4%-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about United Airlines
Is United Airlines getting weaker?
Its latest SEC filing (Jul 16, 2026) showed no major changes. Its overall score is 52/100, down 1 since Oct 28, 2026.
How is United Airlines valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 89/100 against 2,459 industrials peers.EBITDA yield 17.9% vs a peer median of 6.9% (stronger than 90% of peers).EBITDA yield 17.9% vs peers 6.9% (stronger than 90% of peers).
Is United Airlines growing?
At about the same pace as its peers. Growth scores 58/100 against 2,459 industrials peers.Revenue growth 8.5% vs a peer median of 4.4% (stronger than 65% of peers).Revenue growth 8.5% vs peers 4.4% (stronger than 65% of peers).
How profitable is United Airlines?
About as profitable as its peers. Profitability scores 57/100 against 2,459 industrials peers.Return on invested capital 11.7% vs a peer median of 7.1% (stronger than 69% of peers).Return on invested capital 11.7% vs peers 7.1% (stronger than 69% of peers).
How risky is United Airlines?
Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings.Current ratio 0.78× vs a peer median of 1.62× (weaker than 93% of peers).Current ratio 0.78× vs peers 1.62× (weaker than 93% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 16, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
60.5B USD
62.9B USD
+4.0%
Net income (12 months)
3.7B USD
3.5B USD
−4.6%
Operating margin
8.4%
7.7%
−0.7 pts
Free cash flow (12 months)
3.2B USD
2.5B USD
−20.7%
Debt
24.2B USD
26.5B USD
+9.4%
Cash
7.9B USD
10.2B USD
+29.2%
Shares outstanding
324.6M
324.6M
+0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Industrials · 318 companies
Valuations in Industrials are near the top of their range since 2016.
85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
United Airlines looks cheaper than most of its peers on our valuation measures, while the Industrials sector as a whole is valued high by its own standards since 2016. Both can be true at once.
Shown for Industrials: too few Airlines companies have a long enough history of their own.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
-4.1%
5.2%
7.8%
8.9%
8.0%
▼ 1.0 pts
Net margin
-8.0%
1.6%
4.9%
5.5%
5.7%
▲ 0.2 pts
Return on assets (ROA)
-2.9%
1.1%
3.7%
4.3%
4.4%
▲ 0.1 pts
Return on equity (ROE)
-39.1%
10.7%
28.1%
24.8%
21.9%
▼ 2.9 pts
Free cash flow margin
-0.2%
2.8%
-0.5%
6.7%
4.3%
▼ 2.4 pts
Current ratio
1.19×
1.00×
0.83×
0.81×
0.65×
▼ 20%
Debt to equity
6.63×
4.52×
3.12×
1.95×
1.39×
▼ 28%
Interest coverage
—
1.31×
2.15×
3.13×
3.43×
▲ 9.7%
UAL price history
Price history is added with the daily price update and will appear after the next one.