United Airlines UAL

Airlines. United Airlines Holdings, Inc., listed on NASDAQ.

Based on the FY2025 annual report (Jan 2025 – Dec 2025)

United Airlines' market cap is
about $35.90 billion.

#272 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2025 revenue was $59.07B.

Share price (close): $110.49; Close on Nov 5, 2026 · per share
P/E ratio: 10.8x; Closing price ÷ latest annual EPS
Market cap: $35.90B; #272 of 289
Revenue: $59.07B; #69 of 299 · +3.5% YoY
Operating income: $4.713B; #87 of 231 · −7.5% YoY
Net income: $3.353B; #131 of 298 · +6.5% YoY
Free cash flow: $2.557B; #144 of 261 · −33.2% YoY
Total assets: $76.448B; #104 of 299 · +3.2% YoY
Dividends paid: —; Not reported
Dividend per share: —; Not reported
Dividend yield: —; No dividend, or a different currency
Shares outstanding: 323,470,682 shares; As of Dec 31, 2025

Size, put in perspective

Revenue every second$1,870$162M a day

Net income every second$106$9.19M a day

Buying Old Dominion Freight Line with a year's profit9.5% of itBased on Old Dominion Freight Line's market cap of about $35.24 billion

Market cap vs Old Dominion Freight Line1.0×United Airlines ÷ Old Dominion Freight Line

Calculated from the FY2025 annual report, spread evenly over 365 days.

Where the revenue went

Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.

Operating expenses92.0%
Taxes, interest & other2.3%
Net income5.7%

Profitability and stability

Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.

Revenue growthHow much revenue grew from the previous fiscal year: +3.5%; #220 of 299; Revenue was roughly flat. The median across 299 companies is +7.9%.
Operating marginShare of revenue kept as profit from the core business: 8.0%; #183 of 231; 8.0% of revenue was kept as operating profit, which is on the low side. The median across 231 companies is 19.2%.
Net marginShare of revenue left as profit after interest and taxes: 5.7%; #241 of 298; After taxes, 5.7% of revenue was left as net income. The median across 298 companies is 14.0%.
FCF marginShare of revenue left as cash after capital spending: 4.3%; #221 of 261; Little cash is left after capital spending. The median across 261 companies is 15.8%.
ROEHow much profit the company earned on shareholders' equity in a year: 24.0%; #100 of 276; Earns a lot relative to its equity. The median across 276 companies is 16.8%.
Debt-to-equityLiabilities relative to equity. Lower means less debt: 400.2%; #210 of 244; Liabilities are more than twice equity. The median across 244 companies is 159.6%.

Revenue and profit over time

Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.

Currency: US dollars. Years are the years in which each fiscal year ended.

Where the cash went

Unlike profit, cash flow is money that actually came in and went out.

Cash from operations$8.431B
Capital spending−$5.874B
Free cash flow (FCF)$2.557B

Whose money funds the assets

The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).

Liabilities 80%Equity 20%

Total assets$76.448B
Total liabilities$61.166B
Total equity$15.282B
Cash and equivalents$5.942B

Compared with similar companies

Based on each company's latest annual report, so fiscal year ends may differ.

Compare in detail

Company	Annual revenue	Net income	Revenue growth	Operating margin	Net margin
United AirlinesUAL	$59.07B	$3.353B	+3.5%	8.0%	5.7%
Old Dominion Freight LineODFL	$5.496389B	$1.023703B	−5.5%	24.8%	18.6%
Comfort Systems USAFIX	$1.831286B	—	−73.9%	11.4%	—
Rockwell AutomationROK	$8.342B	$869M	+0.9%	20.4%	10.4%
PaychexPAYX	$6.3011B	$1.7601B	+16.5%	39.8%	27.9%

What the company does

United Airlines is a major US airline with a strong international network.

The fiscal year ends around December each year.

Financial statements

Last 5 fiscal years. Currency: US dollars.

Show the table

Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	24.634B	44.955B	53.717B	57.063B	59.07B
Operating income	−1.022B	2.337B	4.211B	5.096B	4.713B
Pretax income	−2.557B	990M	3.387B	4.168B	4.306B
Net income	−1.964B	737M	2.618B	3.149B	3.353B
EPS (diluted)	$-6.10	$2.23	$7.89	$9.45	$10.20
Operating cash flow	2.067B	6.066B	6.911B	9.445B	8.431B
Capital expenditures	2.107B	4.819B	7.171B	5.615B	5.874B
Free cash flow (FCF)	−40M	1.247B	−260M	3.83B	2.557B
Total assets	68.175B	67.358B	71.104B	74.083B	76.448B
Total liabilities	63.146B	60.462B	61.78B	61.408B	61.166B
Total equity	5.029B	6.896B	9.324B	12.675B	15.282B
Cash and equivalents	18.283B	7.166B	6.058B	8.769B	5.942B
Original filing	10-K	10-K	10-K	10-K	10-K

Source: SEC EDGAR filings for United Airlines Holdings, Inc. · CIK 0000100517 · US-GAAP