# United Airlines Holdings Inc. (UAL) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Airlines. Price $111.38, market value $36.2 billion.

## Valuation
- **P/E (trailing): 10.4×** (5-yr avg 10.8×, 3-yr avg 8.8×). United Airlines Holdings Inc. trades at 10.4× trailing earnings, close to its own five-year average of 10.8×. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 7.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.93**. A PEG of 0.93 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.6×**. Each dollar of revenue is priced at 0.6×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.2×**. The shares trade at 2.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.5×**. Enterprise value is 6.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 7.0%** (5-yr avg 5.3%). Free cash flow equals 7.0% of the market value, above its five-year average of 5.3%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 9.6%**. The inverse of the P/E: 9.6% of the price is earned each year.

## Profitability
- **Operating margin: 7.7%**. 7.7% of revenue is left after running the business.
- **Net margin: 5.7%**. 5.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 21.9%**. 21.9% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 12.6%**. Return on all capital, debt included, is 12.6%.
- **Return on assets: 4.6%**. Each dollar of assets produces 4.6% of profit.

## Growth
- **Revenue growth (1 yr): 3.5%** (3-yr 9.5%/yr, 5-yr 30.9%/yr). Revenue grew 3.5% over the last year, against 30.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 7.9%** (3-yr 66.0%/yr). Earnings per share rose 7.9%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 27.0%/yr**. Free cash flow has compounded at 27.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 1.39**. Debt is 1.39 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 1.9×**. It would take 1.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. United Airlines Holdings Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (23 analysts). 23 analysts cover United Airlines Holdings Inc.; the consensus is strong_buy, with an average price target of $160.76 (+44% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 5.0%** (YTD -0.4%, 3-mo 5.3%). The shares are up 5.0% over twelve months including dividends.
- **From 52-week high: -19.7%** (31.6% above the low). Trading 20% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 43**. An RSI of 43 is neutral.
- **Beta (1 yr): 2.18** (volatility 48%). Beta of 2.18 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=UAL · Page: https://foliofundamentals.com/stocks/ual

Not investment advice.