UNITED AIRLINES HOLDINGS INC (UAL) Stock Fundamental Analysis
NASDAQ:UAL • US9100471096
116.43 USD
+3.56 (+3.15%)
At close: Feb 26, 2026
114.12 USD
-2.31 (-1.98%)
Pre-Market: 2/27/2026, 6:42:21 AM
Taking everything into account, UAL scores 5 out of 10 in our fundamental rating. UAL was compared to 22 industry peers in the Passenger Airlines industry. While UAL has a great profitability rating, there are quite some concerns on its financial health. UAL is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
- In the past year UAL was profitable.
- In the past year UAL had a positive cash flow from operations.
- Of the past 5 years UAL 4 years were profitable.
- Each year in the past 5 years UAL had a positive operating cash flow.
1.2 Ratios
- UAL has a Return On Assets of 4.39%. This is in the better half of the industry: UAL outperforms 77.27% of its industry peers.
- With an excellent Return On Equity value of 21.94%, UAL belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 7.58%, UAL is in the better half of the industry, outperforming 72.73% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for UAL is significantly below the industry average of 20.69%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.39% | ||
| ROE | 21.94% | ||
| ROIC | 7.58% |
ROA(3y)4.11%
ROA(5y)2.11%
ROE(3y)24.95%
ROE(5y)9.3%
ROIC(3y)7.85%
ROIC(5y)N/A
1.3 Margins
- UAL's Profit Margin of 5.68% is fine compared to the rest of the industry. UAL outperforms 77.27% of its industry peers.
- In the last couple of years the Profit Margin of UAL has grown nicely.
- UAL's Operating Margin of 8.42% is fine compared to the rest of the industry. UAL outperforms 72.73% of its industry peers.
- UAL's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 63.63%, UAL is in the better half of the industry, outperforming 72.73% of the companies in the same industry.
- UAL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.42% | ||
| PM (TTM) | 5.68% | ||
| GM | 63.63% |
OM growth 3Y15.17%
OM growth 5YN/A
PM growth 3Y51.28%
PM growth 5YN/A
GM growth 3Y5.21%
GM growth 5Y6.96%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), UAL is destroying value.
- The number of shares outstanding for UAL has been reduced compared to 1 year ago.
- UAL has more shares outstanding than it did 5 years ago.
- UAL has a better debt/assets ratio than last year.
2.2 Solvency
- The Debt to FCF ratio of UAL is 9.77, which is on the high side as it means it would take UAL, 9.77 years of fcf income to pay off all of its debts.
- The Debt to FCF ratio of UAL (9.77) is better than 77.27% of its industry peers.
- A Debt/Equity ratio of 1.35 is on the high side and indicates that UAL has dependencies on debt financing.
- With a Debt to Equity ratio value of 1.35, UAL perfoms like the industry average, outperforming 59.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 9.77 | ||
| Altman-Z | N/A |
ROIC/WACC0.83
WACC9.08%
2.3 Liquidity
- UAL has a Current Ratio of 0.65. This is a bad value and indicates that UAL is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 0.65, UAL is in line with its industry, outperforming 59.09% of the companies in the same industry.
- UAL has a Quick Ratio of 0.65. This is a bad value and indicates that UAL is not financially healthy enough and could expect problems in meeting its short term obligations.
- UAL's Quick ratio of 0.59 is in line compared to the rest of the industry. UAL outperforms 59.09% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.65 | ||
| Quick Ratio | 0.59 |
3. Growth
3.1 Past
- UAL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.76%.
- UAL shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 63.03% yearly.
- Looking at the last year, UAL shows a small growth in Revenue. The Revenue has grown by 3.52% in the last year.
- UAL shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 30.93% yearly.
EPS 1Y (TTM)0.76%
EPS 3Y63.03%
EPS 5YN/A
EPS Q2Q%-4.91%
Revenue 1Y (TTM)3.52%
Revenue growth 3Y9.53%
Revenue growth 5Y30.93%
Sales Q2Q%4.78%
3.2 Future
- UAL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.01% yearly.
- Based on estimates for the next years, UAL will show a small growth in Revenue. The Revenue will grow by 4.68% on average per year.
EPS Next Y26.7%
EPS Next 2Y20.23%
EPS Next 3Y17.19%
EPS Next 5Y15.01%
Revenue Next Year8.17%
Revenue Next 2Y7.37%
Revenue Next 3Y6.45%
Revenue Next 5Y4.68%
3.3 Evolution
- Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 10.92, the valuation of UAL can be described as very reasonable.
- UAL's Price/Earnings ratio is rather cheap when compared to the industry. UAL is cheaper than 90.91% of the companies in the same industry.
- UAL's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.11.
- Based on the Price/Forward Earnings ratio of 8.62, the valuation of UAL can be described as reasonable.
- 90.91% of the companies in the same industry are more expensive than UAL, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 28.13, UAL is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.92 | ||
| Fwd PE | 8.62 |
4.2 Price Multiples
- 72.73% of the companies in the same industry are more expensive than UAL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.74 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- UAL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- The decent profitability rating of UAL may justify a higher PE ratio.
- UAL's earnings are expected to grow with 17.19% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.41
PEG (5Y)N/A
EPS Next 2Y20.23%
EPS Next 3Y17.19%
5. Dividend
5.1 Amount
- No dividends for UAL!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
116.43
+3.56 (+3.15%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)01-20 2026-01-20/amc
Earnings (Next)04-13 2026-04-13
Inst Owners91.1%
Inst Owner Change0.04%
Ins Owners0.52%
Ins Owner Change0.94%
Market Cap37.69B
Revenue(TTM)59.07B
Net Income(TTM)3.35B
Analysts82
Price Target142.2 (22.13%)
Short Float %3.47%
Short Ratio2.16
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.56%
Min EPS beat(2)4.52%
Max EPS beat(2)4.61%
EPS beat(4)4
Avg EPS beat(4)7.16%
Min EPS beat(4)0.48%
Max EPS beat(4)19.01%
EPS beat(8)8
Avg EPS beat(8)14.83%
EPS beat(12)12
Avg EPS beat(12)15.2%
EPS beat(16)15
Avg EPS beat(16)12.1%
Revenue beat(2)0
Avg Revenue beat(2)-1.33%
Min Revenue beat(2)-1.67%
Max Revenue beat(2)-0.98%
Revenue beat(4)0
Avg Revenue beat(4)-1.43%
Min Revenue beat(4)-1.76%
Max Revenue beat(4)-0.98%
Revenue beat(8)1
Avg Revenue beat(8)-0.94%
Revenue beat(12)2
Avg Revenue beat(12)-0.72%
Revenue beat(16)4
Avg Revenue beat(16)-0.76%
PT rev (1m)5.17%
PT rev (3m)13.23%
EPS NQ rev (1m)2.51%
EPS NQ rev (3m)16.03%
EPS NY rev (1m)1.6%
EPS NY rev (3m)2.82%
Revenue NQ rev (1m)0.27%
Revenue NQ rev (3m)0.15%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.35%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.92 | ||
| Fwd PE | 8.62 | ||
| P/S | 0.64 | ||
| P/FCF | 14.74 | ||
| P/OCF | 4.47 | ||
| P/B | 2.47 | ||
| P/tB | 4.65 | ||
| EV/EBITDA | N/A |
EPS(TTM)10.66
EY9.16%
EPS(NY)13.51
Fwd EY11.6%
FCF(TTM)7.9
FCFY6.78%
OCF(TTM)26.04
OCFY22.37%
SpS182.46
BVpS47.2
TBVpS25.02
PEG (NY)0.41
PEG (5Y)N/A
Graham Number106.41
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.39% | ||
| ROE | 21.94% | ||
| ROCE | 9.88% | ||
| ROIC | 7.58% | ||
| ROICexc | 10.02% | ||
| ROICexgc | 12.34% | ||
| OM | 8.42% | ||
| PM (TTM) | 5.68% | ||
| GM | 63.63% | ||
| FCFM | 4.33% |
ROA(3y)4.11%
ROA(5y)2.11%
ROE(3y)24.95%
ROE(5y)9.3%
ROIC(3y)7.85%
ROIC(5y)N/A
ROICexc(3y)10.83%
ROICexc(5y)N/A
ROICexgc(3y)13.53%
ROICexgc(5y)N/A
ROCE(3y)10.23%
ROCE(5y)N/A
ROICexgc growth 3Y15.42%
ROICexgc growth 5YN/A
ROICexc growth 3Y17.73%
ROICexc growth 5YN/A
OM growth 3Y15.17%
OM growth 5YN/A
PM growth 3Y51.28%
PM growth 5YN/A
GM growth 3Y5.21%
GM growth 5Y6.96%
F-Score8
Asset Turnover0.77
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 9.77 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | 9.94% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 76.26% | ||
| Current Ratio | 0.65 | ||
| Quick Ratio | 0.59 | ||
| Altman-Z | N/A |
F-Score8
WACC9.08%
ROIC/WACC0.83
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)11.04%
Cap/Sales(5y)10.48%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0.76%
EPS 3Y63.03%
EPS 5YN/A
EPS Q2Q%-4.91%
EPS Next Y26.7%
EPS Next 2Y20.23%
EPS Next 3Y17.19%
EPS Next 5Y15.01%
Revenue 1Y (TTM)3.52%
Revenue growth 3Y9.53%
Revenue growth 5Y30.93%
Sales Q2Q%4.78%
Revenue Next Year8.17%
Revenue Next 2Y7.37%
Revenue Next 3Y6.45%
Revenue Next 5Y4.68%
EBIT growth 1Y-4.55%
EBIT growth 3Y26.14%
EBIT growth 5YN/A
EBIT Next Year85.53%
EBIT Next 3Y30.12%
EBIT Next 5Y19.67%
FCF growth 1Y-33.24%
FCF growth 3Y27.04%
FCF growth 5YN/A
OCF growth 1Y-10.74%
OCF growth 3Y11.6%
OCF growth 5YN/A
UNITED AIRLINES HOLDINGS INC / UAL FAQ
Can you provide the ChartMill fundamental rating for UNITED AIRLINES HOLDINGS INC?
ChartMill assigns a fundamental rating of 5 / 10 to UAL.
What is the valuation status of UNITED AIRLINES HOLDINGS INC (UAL) stock?
ChartMill assigns a valuation rating of 7 / 10 to UNITED AIRLINES HOLDINGS INC (UAL). This can be considered as Undervalued.
Can you provide the profitability details for UNITED AIRLINES HOLDINGS INC?
UNITED AIRLINES HOLDINGS INC (UAL) has a profitability rating of 7 / 10.
Can you provide the financial health for UAL stock?
The financial health rating of UNITED AIRLINES HOLDINGS INC (UAL) is 3 / 10.
What is the earnings growth outlook for UNITED AIRLINES HOLDINGS INC?
The Earnings per Share (EPS) of UNITED AIRLINES HOLDINGS INC (UAL) is expected to grow by 26.7% in the next year.