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United Airlines Holdings (UAL) Financials

UAL NASDAQ
Trailing 12 months to September 30, 2026
Revenue $65.6B +12.3% YoY
Net Income $3.6B +8.6% YoY
EPS (Diluted) $10.92 +9.3% YoY
Free Cash Flow $1.1B -69.9% YoY
Market Cap $31.8B as of Oct 23, 2026
Price / Sales 0.5x on $65.6B revenue, trailing 12 months to September 30, 2026
Price / Earnings 8.9x on $3.6B net income, trailing 12 months to September 30, 2026
Price / Book 1.8x on $17.8B equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Sep 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2026, filed Oct 21, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UAL SEC filings page.

United Airlines Holdings, Inc. (UAL) reported $65.6B in revenue over the twelve months to Sep 30, 2026, up 12.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI UAL FY2025

United’s profits remain positive, but FY2025 exposed a cash-conversion slowdown and tighter short-term liquidity even as debt declined.

FY2025 paired net income growth of 6.5% with operating cash flow of $8.4B, down 10.7%; accounting earnings therefore converted into less cash than in FY2024. That divergence carried into reinvestment: free cash flow fell 33.2% while capital expenditures rose 4.6%, leaving less internally generated cash after capital spending.

Debt reduction has changed the financing mix: long-term debt fell from $28.3B to $17.2B between FY2022 and FY2025 while equity expanded. The FY2025 current ratio of 0.6x shows that balance-sheet deleveraging has not translated into comparable short-term liquidity.

Revenue still grew 3.5% in FY2025, but operating income fell 7.5%, so incremental sales did not translate into incremental operating profit. The operating margin also slipped 1.0 percentage point, pointing to weaker operating leverage rather than a scale benefit and leaving cash availability more dependent on reinvestment demands.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 41 / 100
Financial Health Score 41/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of United Airlines Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
53

United Airlines Holdings, Inc. has an operating margin of 8.0%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 53/100, indicating healthy but not exceptional operating efficiency. This is down from 8.9% the prior year.

Growth
49

United Airlines Holdings, Inc.'s revenue grew a modest 3.5% year-over-year to $59.1B. This slow but positive growth earns a score of 49/100.

Leverage
38

United Airlines Holdings, Inc. has a moderate D/E ratio of 1.12. This balance of debt and equity financing earns a leverage score of 38/100.

Liquidity
7

United Airlines Holdings, Inc.'s current ratio of 0.65 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
41

United Airlines Holdings, Inc. has a free cash flow margin of 4.3%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
58

United Airlines Holdings, Inc.'s ROE of 21.9% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 24.8% the prior year.

Altman Z-Score Distress
1.33

United Airlines Holdings, Inc. scores 1.33, below the 1.81 distress threshold. The score is pulled down most by current liabilities exceeding current assets by $9.3B against total assets of $76.4B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
7/8

United Airlines Holdings, Inc. passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.

Earnings Quality Cash-Backed
2.51x

For every $1 of reported earnings, United Airlines Holdings, Inc. generates $2.51 in operating cash flow ($8.4B OCF vs $3.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
3.43x

United Airlines Holdings, Inc. earns $3.43 in operating income for every $1 of interest expense ($4.7B vs $1.4B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$17.9B
YoY+17.4%
QoQ+1.1%
5Y CAGR+18.2%
10Y CAGR+6.1%

United Airlines Holdings, Inc. generated $17.9B in revenue in Q3 2026. This represents an increase of 17.4% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

EBITDA
$2.2B
YoY+4.6%
QoQ+19.6%
5Y CAGR+6.0%

United Airlines Holdings, Inc.'s EBITDA was $2.2B in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.6% from the same quarter a year earlier. Against the prior quarter it is up 19.6%.

Net Income
$1.0B
YoY+8.4%
QoQ+27.8%
5Y CAGR+16.8%
10Y CAGR+0.6%

United Airlines Holdings, Inc. reported $1.0B in net income in Q3 2026. This represents an increase of 8.4% from the same quarter a year earlier. Against the prior quarter it is up 27.8%.

EPS (Diluted)
$3.14
YoY+8.3%
QoQ+27.6%
5Y CAGR+16.9%
10Y CAGR+0.4%

United Airlines Holdings, Inc. earned $3.14 per diluted share (EPS) in Q3 2026. This represents an increase of 8.3% from the same quarter a year earlier. Against the prior quarter it is up 27.6%.

Cash & Balance Sheet

Free Cash Flow
-$1.7B
YoYn/m
QoQ-727.0%
5Y CAGRn/m

United Airlines Holdings, Inc. recorded an outflow of $1.7B in free cash flow in Q3 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 727.0%.

Cash & Debt
$6.6B
YoY-1.2%
QoQ-34.6%
5Y CAGR-19.2%
10Y CAGR+9.7%

United Airlines Holdings, Inc. held $6.6B in cash against $24.6B in long-term debt as of Q3 2026.

Shares Outstanding
325M
YoY+0.4%
QoQ+0.1%
5Y CAGR+0.1%
10Y CAGR+0.2%

United Airlines Holdings, Inc. had 325M shares outstanding in Q3 2026. This represents an increase of 0.4% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Operating Margin
8.1%
YoY-1.1pp
QoQ+1.9pp
5Y change-5.3pp
10Y change-8.3pp

United Airlines Holdings, Inc.'s operating margin was 8.1% in Q3 2026, reflecting core business profitability. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.

Net Margin
5.8%
YoY-0.5pp
QoQ+1.2pp
5Y change-0.3pp
10Y change-4.0pp

United Airlines Holdings, Inc.'s net profit margin was 5.8% in Q3 2026, showing the share of revenue converted to profit. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.

Return on Equity
5.8%
YoY-0.8pp
QoQ+1.0pp
5Y change-2.9pp

United Airlines Holdings, Inc.'s quarterly ROE was 5.8% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.

Gross Margin

Not reported for Q3 2026.

Capital Allocation

Share Buybacks
$0
YoY-100.0%
QoQn/m

United Airlines Holdings, Inc. repurchased no shares in Q3 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Capital Expenditures
$2.1B
YoY+46.1%
QoQ+59.3%
5Y CAGR+51.7%
10Y CAGR+12.0%

United Airlines Holdings, Inc. invested $2.1B in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 46.1% from the same quarter a year earlier. Against the prior quarter it is up 59.3%.

R&D Spending

Not reported for Q3 2026.

UAL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UAL quarterly income statement
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Revenue$17.9B+17.4%$17.7B+16.0%$14.6B+10.6%$15.4B+4.8%$15.2B+2.6%$15.2B+1.7%$13.2B+5.4%$14.7B+7.8%
Operating Income$1.4B+3.7%$1.1B-17.3%$997.0M+64.3%$1.4B-7.8%$1.4B-10.9%$1.3B-31.3%$607.0M+513.1%$1.5B+50.6%
EBITDA$2.2B+4.6%$1.9B-9.7%$1.8B+31.4%$2.1B-5.6%$2.1B-7.9%$2.1B-22.3%$1.3B+65.3%$2.3B+34.5%
Interest Expense$359.0M+8.5%$343.0M-5.0%$327.0M-8.1%$325.0M-11.9%$331.0M-12.7%$361.0M-15.5%$356.0M-21.6%$369.0M
Income Tax$282.0M-7.8%$221.0M-19.6%$172.0M+89.0%$281.0M-12.7%$306.0M-4.7%$275.0M-33.9%$91.0Mn/m$322.0M+88.3%
Net Income$1.0B+8.4%$805.0M-17.3%$699.0M+80.6%$1.0B+6.0%$949.0M-1.7%$973.0M-26.5%$387.0Mn/m$985.0M+64.2%
EPS (Basic)$3.17+8.2%$2.48-17.3%$2.16+83.1%$3.22+7.3%$2.930.0%$3.00-25.4%$1.18n/m$3.00+64.8%
EPS (Diluted)$3.14+8.3%$2.46-17.2%$2.14+84.5%$3.18+7.4%$2.900.0%$2.97-25.0%$1.16n/m$2.96+63.5%
Diluted Shares (Avg)327M+0.2%327M-0.2%327M-1.9%N/A327M-1.7%327M-2.0%333M+1.4%N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.

UAL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UAL quarterly balance sheet
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Total Assets$85.1B+11.5%$84.6B+9.6%$80.9B+6.3%$76.4B+3.2%$76.3B+5.1%$77.2B+5.3%$76.1B+5.9%$74.1B+4.2%
Current Assets$20.0B+10.5%$21.7B+6.9%$19.4B-3.8%$16.9B-10.7%$18.1B-2.6%$20.3B+1.3%$20.1B+7.8%$18.9B+2.1%
Cash & Equivalents$6.6B-1.2%$10.2B+8.7%$7.9B-16.0%$5.9B-32.2%$6.7B-23.6%$9.4B-13.9%$9.4B+11.5%$8.8B+44.8%
Short-Term Investments$8.0B+21.3%$6.5B+3.3%$6.3B+5.7%$6.3B+10.4%$6.6B+23.3%$6.3B+42.8%$6.0B+6.6%$5.7B-31.5%
Long-Term Investments$0n/m$0n/m$0n/mN/A$0n/m$0n/m$0n/mN/A
Goodwill$4.5B0.0%$4.5B0.0%$4.5B0.0%$4.5B0.0%$4.5B0.0%$4.5B0.0%$4.5B0.0%$4.5B0.0%
Total Liabilities$67.4B+8.6%$67.9B+6.4%$65.1B+2.5%$61.2B-0.4%$62.0B+1.3%$63.8B+1.7%$63.5B+1.2%$61.4B-0.6%
Current Liabilities$26.6B-1.8%$27.8B-4.2%$27.8B+7.7%$26.1B+12.1%$27.1B+16.1%$29.0B+12.1%$25.8B+4.2%$23.3B+5.0%
Non-Current Liabilities$40.7B+16.7%$40.1B+15.3%$37.3B-1.1%$35.0B-8.0%$34.9B-7.8%$34.8B-5.6%$37.7B-0.7%$38.1B-3.7%
Long-Term Debt$24.6B+18.0%$24.3B+16.3%$21.9B-10.1%$17.2B-20.8%$20.8B-6.3%$20.9B-3.7%$24.4B+5.8%$21.7B-13.5%
Total Equity$17.8B+24.1%$16.7B+24.9%$15.9B+25.8%$15.3B+20.6%$14.3B+25.1%$13.4B+27.0%$12.6B+37.3%$12.7B+35.9%
Retained Earnings$12.6B+38.8%$11.5B+42.2%$10.7B+50.3%$10.1B+46.7%$9.0B+53.5%$8.1B+62.7%$7.1B+94.8%$6.9B+79.6%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

UAL Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UAL quarterly cash flow statement
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Operating Cash Flow$465.0M-61.8%$1.6B-27.4%$4.8B+29.4%$1.3B-42.2%$1.2B-18.7%$2.2B-22.9%$3.7B+30.3%$2.2Bn/m
Depreciation & Amortization$777.0M+6.4%$762.0M+4.0%$756.0M+4.0%$748.0M-1.4%$730.0M-1.6%$733.0M+1.9%$727.0M+2.7%$759.0M+11.0%
Capital Expenditures$2.1B+46.1%$1.3B+4.4%$1.7B+35.6%$1.9B+12.8%$1.5B+3.8%$1.3B+10.6%$1.2B-9.7%$1.7B-18.9%
Free Cash Flow-$1.7Bn/m$267.0M-71.3%$3.1B+26.2%-$604.0M-210.0%-$246.0M-379.5%$930.0M-45.6%$2.5B+67.1%$549.0Mn/m
Investing Cash Flow-$3.8Bn/m-$1.5Bn/m-$1.9Bn/m-$1.6Bn/m-$1.7Bn/m-$1.6B-1279.1%-$1.5B-201.5%-$1.7Bn/m
Financing Cash Flow-$141.0Mn/m$2.1Bn/m-$976.0Mn/m-$509.0Mn/m-$2.1Bn/m-$843.0Mn/m-$1.5Bn/m-$591.0Mn/m
Share Buybacks$0-100.0%$0-100.0%$27.0M-92.3%$27.0M-66.3%$21.0M-74.4%$240.0Mn/m$349.0Mn/m$80.0Mn/m

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.

UAL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UAL quarterly financial ratios
MetricQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Operating Margin8.1%-1.1pp6.2%-2.5pp6.8%+2.2pp9.0%-1.2pp9.2%-1.4pp8.7%-4.2pp4.6%+3.8pp10.2%+2.9pp
Net Margin5.8%-0.5pp4.6%-1.8pp4.8%+1.9pp6.8%+0.1pp6.2%-0.3pp6.4%-2.4pp2.9%+3.9pp6.7%+2.3pp
Return on Equity5.8%-0.8pp4.8%-2.5pp4.4%+1.3pp6.8%-0.9pp6.6%-1.8pp7.3%-5.3pp3.1%+4.4pp7.8%+1.3pp
Return on Assets1.2%0.0pp0.9%-0.3pp0.9%+0.3pp1.4%0.0pp1.2%-0.1pp1.3%-0.6pp0.5%+0.7pp1.3%+0.5pp
Current Ratio0.75+0.1x0.78+0.1x0.70-0.1x0.65-0.2x0.67-0.1x0.70-0.1x0.780.0x0.810.0x
Debt-to-Equity1.38-0.1x1.46-0.1x1.38-0.6x1.12-0.6x1.45-0.5x1.56-0.5x1.93-0.6x1.71-1.0x
Liabilities-to-Equity3.79-0.5x4.06-0.7x4.10-0.9x4.00-0.8x4.33-1.0x4.77-1.2x5.03-1.8x4.84-1.8x
Asset Turnover0.210.0x0.210.0x0.180.0x0.200.0x0.200.0x0.200.0x0.170.0x0.200.0x
FCF Margin-9.4%-7.8pp1.5%-4.6pp21.4%+2.7pp-3.9%-7.7pp-1.6%-2.2pp6.1%-5.3pp18.8%+6.9pp3.7%+25.6pp

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.65), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
United Airlines Holdings, Inc. UAL FY2025 $59.1B $3.4B 5.7% $31.8B 41/100
Delta Air Lines, Inc. DAL FY2025 $63.4B $5.0B 7.9% $50.5B 47/100
Southwest Airlines Co. LUV FY2025 $28.1B $441.0M 1.6% $20.4B 33/100
American Airlines Group Inc. AAL FY2025 $54.6B $111.0M 0.2% $8.0B 27/100
Alaska Air Group, Inc. ALK FY2025 $14.2B $100.0M 0.7% $3.8B 33/100
Copa Holdings, S.A. CPA FY2025 $3.6B $671.6M 18.6% $5.4B 55/100

Frequently Asked Questions

What is United Airlines Holdings, Inc.'s annual revenue?

United Airlines Holdings, Inc. (UAL) reported $59.1B in total revenue for fiscal year 2025. This represents a 3.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is United Airlines Holdings, Inc.'s revenue growing?

United Airlines Holdings, Inc. (UAL) revenue grew by 3.5% year-over-year, from $57.1B to $59.1B in fiscal year 2025.

Is United Airlines Holdings, Inc. profitable?

Yes, United Airlines Holdings, Inc. (UAL) reported a net income of $3.6B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $3.4B, with a net profit margin of 5.7%.

United Airlines Holdings, Inc. (UAL) reported diluted earnings per share of $10.20 for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

United Airlines Holdings, Inc. (UAL) had EBITDA of $7.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, United Airlines Holdings, Inc. (UAL) had $5.9B in cash and equivalents against $17.2B in long-term debt.

United Airlines Holdings, Inc. (UAL) had an operating margin of 8.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

United Airlines Holdings, Inc. (UAL) had a net profit margin of 5.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

United Airlines Holdings, Inc. (UAL) has a return on equity of 21.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

United Airlines Holdings, Inc. (UAL) generated $2.6B in free cash flow during fiscal year 2025. This represents a -33.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

United Airlines Holdings, Inc. (UAL) generated $8.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

United Airlines Holdings, Inc. (UAL) had $76.4B in total assets as of fiscal year 2025, including both current and long-term assets.

United Airlines Holdings, Inc. (UAL) invested $5.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, United Airlines Holdings, Inc. (UAL) spent $637.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

United Airlines Holdings, Inc. (UAL) had 323M shares outstanding as of fiscal year 2025.

United Airlines Holdings, Inc. (UAL) had a current ratio of 0.65 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

United Airlines Holdings, Inc. (UAL) had a debt-to-equity ratio of 1.12 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

United Airlines Holdings, Inc. (UAL) had a liabilities-to-equity ratio of 4.00 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

United Airlines Holdings, Inc. (UAL) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

United Airlines Holdings, Inc. (UAL) trades at 8.9x earnings, its market capitalization divided by $3.6B net income, trailing 12 months to September 30, 2026. The market capitalization is $31.8B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

United Airlines Holdings, Inc. (UAL) trades at 0.5x sales, its market capitalization divided by $65.6B revenue, trailing 12 months to September 30, 2026. The market capitalization is $31.8B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

United Airlines Holdings, Inc. (UAL) has an Altman Z-Score of 1.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

United Airlines Holdings, Inc. (UAL) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

United Airlines Holdings, Inc. (UAL) has an earnings quality ratio of 2.51x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

United Airlines Holdings, Inc. (UAL) has an interest coverage ratio of 3.43x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

United Airlines Holdings, Inc. (UAL) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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