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United Airlines Holdings, Inc.

United Airlines Holdings, Inc.

NASDAQ•UAL
CEO: Mr. J. Scott Kirby
Sector: Industrials
Industry: Airlines, Airports & Air Services
Listing Date: 2006-02-06
United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties. The company was formerly known as United Continental Holdings, Inc. and changed its name to United Airlines Holdings, Inc. in June 2019. United Airlines Holdings, Inc. was incorporated in 1968 and is headquartered in Chicago, Illinois.
Contact Information
233 South Wacker Drive, Chicago, IL, 60606, United States
872-825-4000
www.united.com
Market Cap
$36.08B
P/E (TTM)
11.1
12.7
Dividend Yield
--
52W High
$116.32
52W Low
$52.00
52W Range
92%
Rank46Top 45.7%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$15.23B+2.57%
4-Quarter Trend

EPS

$2.90-1.02%
4-Quarter Trend

FCF

-$246.00M-379.55%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Net Income Growth Net income reached $2.31B for nine months ended September 30, 2025, marking a 6.7% increase over prior year.
Revenue Increased 3.1% Total operating revenue grew to $43.67B for the first nine months of 2025, driven by capacity and passenger volume.
Capacity and Passenger Volume Up Q3 Available Seat Miles (ASMs) increased 7.2% to 87.42B, while passenger count rose 6.2% year-over-year.
CASM Decreased 2.8% Cost per ASM (CASM) improved to 15.82 cents in Q3 2025, supported by a 5.1% drop in average fuel price.

Risk Factors

Q3 Operating Income Decline Operating income fell 10.8% to $1.40B for the third quarter, reflecting margin pressure despite revenue growth.
PRASM Showed Weakness Passenger Revenue per ASM (PRASM) declined 5.0% to 15.80 cents in Q3 2025 compared to the prior period.
Large Labor Special Charge Recorded $561M special charge for AFA ratification bonus during the nine months ended September 30, 2025.
Liquidity Position Shift Unrestricted cash and short-term investments decreased to $13.3B as of September 30, 2025, from year-end 2024.

Outlook

Fleet Purchase Commitments Total Firm aircraft purchase commitments total $54.3B, scheduled for delivery through 2033, signaling future capital needs.
Secured Debt Fully Repaid All indebtedness secured by MileagePlus assets was fully repaid following the July 2025 redemption activity.
Credit Facility Remains Available The $3.0B revolving credit facility remains fully undrawn as of September 30, 2025, supporting liquidity needs.
Restarting Labor Negotiations AFA contract ratification failed; the Company and AFA expect to restart negotiations on October 29, 2025.

Peer Comparison

Revenue (TTM)

Delta Air Lines, Inc.DAL
$62.92B
+4.3%
United Airlines Holdings, Inc.UAL
$58.37B
+4.2%
EMCOR Group, Inc.EME
$16.24B
+14.1%

Gross Margin (Latest Quarter)

Verisk Analytics, Inc.VRSK
70.1%
+0.9pp
United Airlines Holdings, Inc.UAL
64.6%
+34.7pp
Ingersoll Rand Inc.IR
43.7%
-0.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
DAL$45.40B9.727.6%27.3%
WAB$37.13B31.411.1%24.6%
UAL$36.08B11.124.9%41.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.2%
Moderate Growth
4Q Net Income CAGR
-1.2%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 20, 2026
|
EPS:$2.93
|
Revenue:$15.35B
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 16, 2025|
    Revenue: $15.23B+2.6%
    |
    EPS: $2.90-1.0%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 17, 2025|
    Revenue: $15.24B+1.7%
    |
    EPS: $3.00-25.4%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 16, 2025|
    Revenue: $13.21B+5.4%
    |
    EPS: $1.18-410.5%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $57.06B+6.2%
    |
    EPS: $9.58+19.9%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 16, 2024|
    Revenue: $14.84B+2.5%
    |
    EPS: $2.93-15.6%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 18, 2024|
    Revenue: $14.99B+5.7%
    |
    EPS: $4.02+22.6%
    Meet

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 17, 2024|
    Revenue: $12.54B+9.7%
    |
    EPS: $-0.38-35.6%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $53.72B+19.5%
    |
    EPS: $7.99+253.5%
    Beat