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Friday 6 November 2026 Export UAL’s income statement to Excel — free account

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.

Revenue
+17.4%
EPS
+8.28%
Free cash flow
−615.6%
Total debt
+3.81%

Quarter to September 2026, against a year earlier

110.79 4.97 −4.29%
Market cap
$35.9B
P/E
10.1×
Fwd P/E
12.2×
Dividend yield
—
F-score
7/9
Altman Z
1.37
Beneish M
−2.65
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
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United Airlines Holdings Inc (UAL) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, United Airlines Holdings Inc (UAL) trades at a P/B ratio of 2.0×. Over the past ten years it has ranged from 0.5× (March 2020) to 11.4× (January 2015); the current reading is higher than 28% of that period. That is in line with the Airlines industry median of 2.0× and below the Industrials sector median of 2.2×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 2.4× (5.56%)
FY2024 2.5× 75.84%
FY2023 1.4× (18.71%)
FY2022 1.8× (37.15%)
FY2021 2.8× 38.21%
FY2020 2.0× 2.55%
FY2019 2.0× (13.93%)
FY2018 2.3× (3.86%)
FY2017 2.4× (13.75%)
FY2016 2.8× 15.25%

Quarterly newest first

Period P/B ratio Change
Sep 2026 2.0× (23.19%)
Jun 2026 2.6× 40.74%
Mar 2026 1.9× (20.99%)
Dec 2025 2.4× 8.90%
43 more quarters

Against its own ten years

Low 0.5× High 11.4×
Ten-year median 2.3×
Current reading's percentile 30

P/B ratio against peers

Company P/B ratio
AAL American Airlines Group Inc. compare n/m
SKYW SkyWest, Inc. compare 1.1×
ALK Alaska Air Group, Inc. compare 1.2×
CPA Copa Holdings, S.A. compare 2.0×
UAL United Airlines Holdings Inc 2.0×
RYAAY Ryanair Holdings PLC compare 2.3×
DAL Delta Air Lines, Inc. compare 2.5×
LUV Southwest Airlines Co. compare 3.0×
LTM LATAM Airlines Group S.A. compare 6.1×
Airlines industry median 2.0×
Industrials sector median 2.2×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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