# United Airlines Holdings Inc. (UAL) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Industrials / Airlines. Price $107.21, market value $34.8 billion.

## Valuation
- **P/E (trailing): 9.8×** (5-yr avg 10.8×, 3-yr avg 8.8×). United Airlines Holdings Inc. trades at 9.8× 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 9.1×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.15**. A PEG of 1.15 is in the range usually read as fairly priced for its growth.
- **Price / sales: 0.5×**. Each dollar of revenue is priced at 0.5×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.3×**. Enterprise value is 6.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 3.2%** (5-yr avg 5.3%). Free cash flow equals 3.2% of the market value, below its five-year average of 5.3%, so the shares are pricier on cash than usual.
- **Earnings yield: 10.2%**. The inverse of the P/E: 10.2% of the price is earned each year.

## Profitability
- **Operating margin: 7.5%**. 7.5% 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: 12.7%**. Return on all capital, debt included, is 12.7%.
- **Return on assets: 4.7%**. Each dollar of assets produces 4.7% 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.
- **Current ratio: 0.65** (quick 0.65). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **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 $149.70 (+40% 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): 11.5%** (YTD -4.1%, 3-mo -19.2%). The shares are up 11.5% over twelve months including dividends.
- **From 52-week high: -22.7%** (26.7% above the low). Trading 23% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 2.17** (volatility 48%). Beta of 2.17 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.