Ryanair Holdings PLC (RYAAY) vs United Airlines Holdings Inc (UAL)

Ryanair Holdings PLC and United Airlines Holdings Inc are both Airlines companies. United Airlines Holdings Inc is the larger, with a market value of $36.4B against $28.2B — 1.3× the size. Ryanair Holdings PLC trades at the lower P/E: 5.5× against 10.7×. Ryanair Holdings PLC grew revenue faster over the last twelve months: 13.7% against 8.47%. Ryanair Holdings PLC has the higher net margin (12.2% vs 5.56%) and the higher return on invested capital (22.2% vs 11.5%). Across the 21 metrics below, Ryanair Holdings PLC leads on 14 and United Airlines Holdings Inc on 7.

Valuation

Metric RYAAY UAL Airlines median
P/E 5.54 10.66 10.32
P/S 1.58 0.59 0.57
P/B 2.61 2.22 2.06
Price to free cash flow 14.47 14.08 13.20
EV/EBITDA 6.35 9.62 9.68
EV/Sales 1.42 0.74 0.89
Earnings yield 18.06% 9.38% 2.85%
Free cash flow yield 6.91% 7.10% 3.17%

Profitability

Metric RYAAY UAL Airlines median
Gross margin 52.31% 67.68% 42.57%
Operating margin 13.11% 7.74% 4.18%
Net margin 12.17% 5.56% 1.85%
Free cash flow margin 10.93% 4.18% 4.31%
Return on equity 22.81% 23.26% 10.75%
Return on assets 10.64% 4.32% 1.67%
Return on invested capital 22.18% 11.48% 3.19%

Growth

Metric RYAAY UAL Airlines median
Revenue growth (TTM) 13.73% 8.47% 9.79%
EPS growth (last fiscal year) 51.92% 7.94% —
Revenue growth, 5-year CAGR 56.66% 30.93% 25.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric RYAAY UAL Airlines median
Debt to equity 0.00 1.59 0.81
Current ratio 0.79 0.78 0.60
Net debt to EBITDA (1.16) 1.65 1.42

Dividend

Metric RYAAY UAL Airlines median
Dividend yield 1.43% — 0.82%
Payout ratio 0.00 0.00 0.00

Size

Metric RYAAY UAL Airlines median
Market cap 28.17b 36.35b 3.91b

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