United Airlines Holdings Inc
UAL Industrials Airlines
United Airlines Holdings Inc’s revenue for fiscal 2025 (year ended December 2025) was $59.1 billion, up 3.52% from fiscal 2024. In the quarter to June 2026, revenue grew 16.0%, EPS fell 17.2%, free cash flow fell 69.3% and total debt fell 2.27%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for five consecutive years.
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United Airlines Holdings Inc (UAL) Operating margin
United Airlines Holdings Inc's operating margin over the twelve months to 30 June 2026 was 7.74%, down 0.2 percentage points from fiscal 2025 (7.98%). Over the past ten years it has ranged from −41.4% (fiscal 2020) to 13.6% (fiscal 2015); the current reading is higher than 55% of that period. That is above the Airlines industry median of 4.18% and above the Industrials sector median of 5.13%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 7.98% | (0.95) |
| FY2024 | 8.93% | 1.09 |
| FY2023 | 7.84% | 2.64 |
| FY2022 | 5.20% | 9.35 |
| FY2021 | −4.15% | 37.26 |
| FY2020 | −41.4% | (51.35) |
| FY2019 | 9.94% | 2.12 |
| FY2018 | 7.82% | (1.76) |
| FY2017 | 9.58% | (2.30) |
| FY2016 | 11.9% | (1.76) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 6.20% | (0.63) |
| Mar 2026 | 6.83% | (2.15) |
| Dec 2025 | 8.98% | (0.18) |
| Sep 2025 | 9.16% | 0.46 |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| CPA Copa Holdings, S.A. compare | 19.4% |
| LTM LATAM Airlines Group S.A. compare | 15.0% |
| RYAAY Ryanair Holdings PLC compare | 13.1% |
| UAL United Airlines Holdings Inc | 7.74% |
| DAL Delta Air Lines, Inc. compare | 7.36% |
| LUV Southwest Airlines Co. compare | 3.46% |
| AAL American Airlines Group Inc. compare | 1.73% |
| ALK Alaska Air Group, Inc. compare | −1.52% |
| ZNH China Southern Airlines Company Limited compare | −7.90% |
| Airlines industry median | 4.18% |
| Industrials sector median | 5.13% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on UAL
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement