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UAL (United Airlines Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena
UAL
United Airlines Holdings, Inc.
Mkt Cap
$30B
Industrials
·
Airlines, Airports & Air Services
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$59.1B
Net Income (TTM)
$3.4B
EPS (TTM)
$10.22
Free Cash Flow (TTM)
$2.6B
Gross Margin
64.1%
Op. Margin
8.0%
Net Margin
5.7%
FCF Margin
4.3%
P/S Ratio (TTM)
0.5x
P/E Ratio (TTM)
9.0x
YoY Rev Growth
+3.5%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$11.4B
$2.2B
-$43M
Q2 23
$14.2B
$4.9B
$1.5B
Q3 23
$14.5B
$4.4B
$1.7B
Q4 23
$13.6B
$3.7B
$997M
Q1 24
$12.5B
$2.7B
$99M
Q2 24
$15.0B
$4.8B
$1.9B
Q3 24
$14.8B
$4.4B
$1.6B
Q4 24
$14.7B
$4.5B
$1.5B
Q1 25
$13.2B
$8.3B
$607M
Q2 25
$15.2B
$9.9B
$1.3B
Q3 25
$15.2B
$9.8B
$1.4B
Q4 25
$15.4B
$9.9B
$1.4B
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Revenue Breakdown
UAL
United Airlines Holdings, Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
0.6x
15.6x
Q2 23
0.6x
11.3x
Q3 23
0.6x
10.5x
Q4 23
0.6x
11.5x
Q1 24
0.5x
11.2x
Q2 24
0.5x
10.2x
Q3 24
0.5x
10.9x
Q4 24
0.5x
9.5x
Q1 25
0.5x
8.2x
Q2 25
0.5x
9.1x
Q3 25
0.5x
9.1x
Q4 25
0.5x
9.0x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$3.1B
$1.3B
Q2 23
$3.8B
$2.4B
Q3 23
$880M
-$962M
Q4 23
-$910M
-$3.0B
Q1 24
$2.8B
$1.5B
Q2 24
$2.9B
$1.7B
Q3 24
$1.5B
$88M
Q4 24
$2.2B
$549M
Q1 25
$3.7B
$2.5B
Q2 25
$2.2B
$930M
Q3 25
$1.2B
-$246M
Q4 25
$1.3B
-$604M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$1.8B
Q2 23
$1.4B
Q3 23
$1.8B
Q4 23
$2.1B
Q1 24
$1.4B
Q2 24
$1.2B
Q3 24
$1.4B
Q4 24
$1.7B
Q1 25
$1.2B
Q2 25
$1.3B
Q3 25
$1.5B
Q4 25
$1.9B
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+51.1%
+28.2%
Q2 23
+17.1%
+12.7%
Q3 23
+12.5%
+11.6%
Q4 23
+9.9%
+14.5%
Q1 24
+9.7%
+8.4%
Q2 24
+5.7%
+3.1%
Q3 24
+2.5%
+4.2%
Q4 24
+7.8%
+4.5%
Q1 25
+5.4%
+1.3%
Q2 25
+1.7%
+6.5%
Q3 25
+2.6%
+4.2%
Q4 25
+4.8%
+6.2%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$0
0.0%
Q2 23
$0
0.0%
Q3 23
$0
0.0%
Q4 23
$0
0.0%
Q1 24
$0
0.0%
Q2 24
$0
0.0%
Q3 24
$0
0.0%
Q4 24
$0
0.0%
Q1 25
$0
0.0%
Q2 25
$0
0.0%
Q3 25
$0
0.0%
Q4 25
$0
0.0%
marketcaparena.com
OpEx Breakdown
S&M
Quarter
S&M
Q1 23
$403M
Q2 23
$487M
Q3 23
$516M
Q4 23
$571M
Q1 24
$480M
Q2 24
$626M
Q3 24
$574M
Q4 24
$551M
Q1 25
$496M
Q2 25
$487M
Q3 25
$555M
Q4 25
$571M
marketcaparena.com
Revenue by Geography
Atlantic Destination
International
Latin America Destination
Pacific Destination
Quarter
Atlantic Destination
International
Latin America Destination
Pacific Destination
Q1 23
$1.8B
$7.2B
$1.3B
$1.1B
Q2 23
$3.2B
$8.4B
$1.3B
$1.3B
Q3 23
$3.5B
$8.4B
$1.2B
$1.4B
Q4 23
$2.4B
$8.4B
$1.3B
$1.5B
Q1 24
$1.8B
$7.7B
$1.4B
$1.6B
Q2 24
$3.3B
$8.8B
$1.3B
$1.6B
Q3 24
$3.4B
$8.6B
$1.2B
$1.5B
Q4 24
$2.6B
$9.0B
$1.4B
$1.7B
Q1 25
$1.9B
$8.0B
$1.6B
$1.7B
Q2 25
$3.4B
$8.8B
$1.4B
$1.7B
Q3 25
$3.5B
$9.0B
$1.2B
$1.6B
Q4 25
$2.9B
$9.2B
$1.4B
$1.9B
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$7.6B
$9.5B
$17.2B
Q2 23
$9.6B
$9.5B
$19.1B
Q3 23
$7.5B
$9.6B
$17.1B
Q4 23
$6.1B
$8.3B
$14.4B
Q1 24
$8.4B
$5.6B
$14.0B
Q2 24
$10.9B
$4.4B
$15.2B
Q3 24
$8.8B
$5.4B
$14.2B
Q4 24
$8.8B
$5.7B
$14.5B
Q1 25
$9.4B
$6.0B
$15.3B
Q2 25
$9.4B
$6.3B
$15.6B
Q3 25
$6.7B
$6.6B
$13.3B
Q4 25
$5.9B
$6.3B
$12.2B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
327M
-0.9%
Q2 23
332M
+1.3%
Q3 23
332M
+0.3%
Q4 23
331M
-0.3%
Q1 24
328M
-0.9%
Q2 24
334M
+1.7%
Q3 24
333M
-0.4%
Q4 24
335M
+0.5%
Q1 25
333M
-0.4%
Q2 25
327M
-1.7%
Q3 25
327M
-0.1%
Q4 25
327M
+0.0%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$463K
84K
FY 15
$451K
84K
FY 16
$415K
88K
FY 17
$421K
90K
FY 18
$449K
92K
FY 19
$451K
96K
FY 20
$206K
74K
FY 21
$293K
84K
FY 22
$484K
93K
FY 23
$520K
103K
FY 24
$532K
107K
FY 25
$522K
113K
marketcaparena.com