US · USD
UAL
United Airlines Holdings Inc
- Day's range
- US$111.36 – US$114.76
- Day's volume
- US$451.7m
- 52-week range
- US$85.21 – US$136.11
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See how UAL weighs in your net worth, what it has paid you and how far it is from your target allocation.
Create a free accountUAL in numbers
- Market cap
- US$36.5bn
- P/E
- 10.44
- P/B
- 2.19
- Dividend yield (12m)
- 0.00%
UAL trades at 10.44 times its earnings of the last 12 months.
UAL price history
UAL risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | +10.35% | +185.56% | +166.23% |
| Volatility (annualised) | 42.86% | 45.79% | 46.53% |
| Largest drawdown | -20.59% | -34.98% | -36.19% |
| Positive months | 7/12 | 23/36 | 35/60 |
How much did investing in UAL return?
US$1,000.00 invested on 01/11/2021 would be worth US$2,662.33 today.
- Value today in UAL
- US$2,662.33
- Return over the period
- +166.23%
- Return per year
- +22.04%
- In the S&P 500
- US$1,690.98
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
UAL fundamentals
Valuation
- P/E10.44
- P/B2.19
- EV/EBITDA4.64
- EV/EBIT7.49
- EV/Revenue0.58
- P/EBIT7.49
- P/S0.58
- P/OCF4.10
- P/FCF—
- Earnings yield13.34%
- PEG ratio—
- Earnings per shareUS$10.77
- Book value per shareUS$51.44
Debt
- Net debt—
- Net debt/EBITDA—
- Net debt/Equity—
- Debt/Equity—
- Current ratio0.78
- Quick ratio—
- Cash ratio0.60
Efficiency
- Gross margin—
- EBITDA margin12.51%
- Operating margin7.75%
- Net margin5.56%
- Asset turnover0.74
Profitability
- ROE20.94%
- ROA4.14%
- ROIC22.79%
- Payout0.00%
Growth
- Revenue CAGR (5 years)33.94%
- Earnings CAGR (5 years)—
- Revenue growth (year)—
- Earnings growth (year)—
- Revenue growth (quarter)—
- Earnings growth (quarter)—
What is UAL's fair price?
Two classic value formulas, with today's numbers. The current price is US$112.51.
- Graham's fair price
- US$111.67
- 0.75% below the price
√(22.50 × US$10.77 × US$51.44)
Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.
- Bazin's ceiling price
- —
- Does not apply to UAL: it paid no distributions in the last five years.
Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.
Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.
UAL indicators by year
Multiples at each year's closing price; margins and returns from that year's accounts.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 10.79 | 10.09 | 5.17 | 16.73 | -7.24 | -1.95 | 7.26 | 10.52 |
| P/B | 2.37 | 2.51 | 1.45 | 1.79 | 2.83 | 2.31 | 1.89 | 2.22 |
| EV/EBITDA | 5.91 | 5.23 | 4.10 | 5.66 | 19.94 | — | 4.77 | 5.90 |
| Earnings per share | US$10.37 | US$9.62 | US$7.98 | US$2.25 | -US$6.05 | -US$22.20 | US$12.14 | US$7.96 |
| Book value per share | US$47.25 | US$38.72 | US$28.42 | US$21.08 | US$15.49 | US$18.71 | US$46.51 | US$37.65 |
| ROE | 21.94% | 24.84% | 28.08% | 10.69% | -39.05% | -118.61% | 26.09% | 21.13% |
| ROIC | 15.10% | 16.85% | 13.56% | 8.03% | -3.93% | -24.24% | 15.64% | 13.24% |
| EBITDA margin | 12.95% | 14.06% | 12.81% | 10.66% | 5.94% | -25.21% | 15.23% | 13.06% |
| Net margin | 5.68% | 5.52% | 4.87% | 1.64% | -7.97% | -46.04% | 6.96% | 5.14% |
| Net debt/EBITDA | 1.18 | 1.27 | 2.13 | 3.08 | 10.22 | — | 1.46 | 1.76 |
UAL financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | US$59.1bn | US$57.1bn | US$53.7bn | US$45bn | US$24.6bn | US$15.4bn |
| Cost of sales | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| EBITDA | US$7.7bn | US$8bn | US$6.9bn | US$4.8bn | US$1.5bn | -US$3.9bn |
| EBIT | US$4.7bn | US$5.1bn | US$4.2bn | US$2.3bn | -US$1bn | -US$6.4bn |
| Net finance result | -US$408m | -US$928m | -US$824m | -US$1.3bn | -US$1.5bn | -US$2.5bn |
| Profit before tax | US$4.3bn | US$4.2bn | US$3.4bn | US$990m | -US$2.6bn | -US$8.8bn |
| Income tax | -US$953m | -US$1bn | -US$769m | -US$253m | US$593m | US$1.8bn |
| Net income | US$3.4bn | US$3.1bn | US$2.6bn | US$737m | -US$2bn | -US$7.1bn |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
Does UAL pay dividends?
UAL has no distributions on record.
About United Airlines Holdings
- Sector
- Transportation and utilities
Questions about UAL
How much is UAL today?
UAL is at US$112.51 (0.65% on the day), last traded on 02/10/2026.
What are the P/E and P/B of UAL?
UAL trades at a P/E of 10.44 and a P/B of 2.19.
How much did UAL return in 12 months?
UAL returned 10.35% in 12 months, with annualised volatility of 42.86% and a largest drawdown of -20.59%.