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United Airlines (UAL) Stock Analysis

This is a peer-relative look at United Airlines (UAL): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Transportation peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for United Airlines (UAL)
Profile ItemUAL
NameUnited Airlines Holdings, Inc.
Country/RegionUnited States
GICS SectorIndustrials
GICS Industry GroupTransportation
GICS IndustryPassenger Airlines
GICS Sub-IndustryPassenger Airlines
Market Capitalization36.63 billion USD
CurrencyUSD
ExchangeNasdaq
Listing DateFebruary 6, 2006
Security TypeCommon Stock

Price Performance

Cumulative Growth

UAL
GSPC
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United Airlines (UAL) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for United Airlines (UAL) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for United Airlines (UAL) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Total Return (1Y)22.35%22.71%
Total Return (3Y, Annualized)47.27%14.66%
Total Return (5Y, Annualized)17.68%3.98%

Risk Profile

Drawdown History

UAL
GSPC
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United Airlines (UAL) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for United Airlines (UAL) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Volatility (1Y, Annualized)48.88%40.42%
Beta (5Y)1.321.15
Max Drawdown (5Y)-49.19%-52.44%

Risk-Adjusted Performance

Risk-Return Positioning

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Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. UAL is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Sharpe Ratio (1Y)0.370.46
Sortino Ratio (1Y)0.590.70

Profitability

ROE (TTM)

United Airlines (UAL) posts ROE of 22.31%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

UAL

Transportation industry group

22.31%

Group distribution
Max
45.08%
UAL
22.31%
Q3
22.02%
Median
13.94%
Q1
2.89%
Min
-10.45%
Largest peers
UNP
38.75%
UPS
28.65%
CSX
26.39%
CNI
22.45%
UAL
22.31%
UBER
12.33%
CP
8.27%
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Where United Airlines (UAL) stands on ROE within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

United Airlines (UAL) keeps 5.46% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

UAL

Transportation industry group

5.46%

Group distribution
Max
50.36%
Q3
21.18%
Median
5.58%
UAL
5.46%
Q1
1.55%
Min
-11.37%
Largest peers
UNP
28.90%
CNI
26.42%
CP
24.14%
CSX
23.97%
UBER
6.13%
UAL
5.46%
UPS
4.84%
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Where United Airlines (UAL) stands on net margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

United Airlines (UAL) turns 7.03% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

UAL

Transportation industry group

7.03%

Group distribution
Max
59.18%
Q3
29.30%
Median
11.50%
UAL
7.03%
Q1
4.62%
Min
-8.91%
Largest peers
CNI
41.52%
UNP
41.34%
CSX
39.26%
CP
38.56%
UBER
9.80%
UPS
9.28%
UAL
7.03%
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Where United Airlines (UAL) stands on operating margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
ROE (TTM)22.31%13.94%
ROA (TTM)3.31%4.95%
Net Margin (TTM)5.46%5.58%
Operating Margin (TTM)7.03%11.50%
Gross Margin (TTM)30.87%27.25%

Growth

Revenue Growth

United Airlines (UAL) grew revenue 3.52%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

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United Airlines (UAL): Revenue Growth across different time periods, set against Transportation industry-group medians.

EPS Growth

United Airlines (UAL) grew earnings per share 7.94%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

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United Airlines (UAL): EPS Growth across different time periods, set against Transportation industry-group medians.

Growth Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Revenue Growth (YoY)3.52%2.80%
Revenue Growth (3Y CAGR)9.53%1.66%
EPS Growth (YoY)7.94%-10.61%
EPS Growth (3Y CAGR)66.00%-7.47%

Financial Strength

Current Ratio (MRQ)

United Airlines (UAL) has current ratio of 0.75, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

UAL

Transportation industry group

0.75

Group distribution
Max
2.58
Q3
1.62
Median
1.16
Q1
0.78
UAL
0.75
Min
0.22
Largest peers
UPS
1.24
UBER
1.23
UNP
1.16
CSX
0.84
CNI
0.82
UAL
0.75
CP
0.52
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Where United Airlines (UAL) stands on current ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

United Airlines (UAL) has debt-to-equity ratio of 1.93, in the higher-leverage quartile for its industry. The heavier reliance on borrowing can make earnings, rates, or refinancing conditions matter more.

UAL

Transportation industry group

1.93

Group distribution
Max
2.75
UAL
1.93
Q3
1.37
Median
0.78
Q1
0.35
Min
0.00
Largest peers
UPS
2.03
UAL
1.93
UNP
1.41
CSX
1.35
CNI
1.09
UBER
0.61
CP
0.55
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Where United Airlines (UAL) stands on debt-to-equity ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Current Ratio (MRQ)0.751.16
Debt / Equity (MRQ)1.930.78
Net Debt / EBITDA2.792.00

Dividends

Dividend Yield (TTM)

United Airlines (UAL) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

UAL

Transportation industry group

0.00%

Group distribution
Max
4.68%
Q3
1.99%
Median
0.74%
UAL
0.00%
Q1
0.00%
Min
0.00%
Largest peers
UPS
5.91%
CNI
2.87%
UNP
1.87%
CSX
1.08%
CP
1.06%
UAL
0.00%
UBER
0.00%
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Where United Airlines (UAL) stands on dividend yield within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

United Airlines (UAL) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

UAL

Transportation industry group

0.00%

Group distribution
Max
100.89%
Q3
41.68%
Median
20.43%
UAL
0.00%
Q1
0.00%
Min
0.00%
Largest peers
UPS
126.40%
CNI
45.63%
UNP
43.37%
CSX
28.65%
CP
22.91%
UAL
0.00%
UBER
0.00%
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Where United Airlines (UAL) stands on payout ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
Dividend Yield (TTM)0.00%0.74%
Dividend Payout Ratio (TTM)0.00%20.43%

Valuation

P/E Ratio (TTM)

United Airlines (UAL) trades at P/E ratio of 10.32, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

UAL

Transportation industry group

10.32

Group distribution
Max
46.76
Q3
30.87
Median
20.58
Q1
10.44
UAL
10.32
Min
0.00
Largest peers
UBER
40.35
CP
29.54
CSX
25.58
UNP
22.63
CNI
21.61
UPS
20.87
UAL
10.32
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Where United Airlines (UAL) stands on P/E ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

United Airlines (UAL) trades at 0.56 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

UAL

Transportation industry group

0.56

Group distribution
Max
4.35
Q3
2.07
Median
0.93
UAL
0.56
Q1
0.53
Min
0.04
Largest peers
UNP
6.54
CSX
6.09
CP
5.01
CNI
4.05
UBER
2.48
UPS
1.01
UAL
0.56
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Where United Airlines (UAL) stands on P/S ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

United Airlines (UAL) trades at 2.06 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

UAL

Transportation industry group

2.06

Group distribution
Max
6.29
Q3
3.39
UAL
2.06
Median
1.90
Q1
1.03
Min
-2.07
Largest peers
UNP
7.83
CSX
6.29
UPS
6.15
UBER
5.06
CNI
4.77
CP
2.46
UAL
2.06
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Where United Airlines (UAL) stands on P/B ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

United Airlines (UAL) metric values compared with Transportation industry-group medians
MetricCurrent stock: UALIndustry group median
P/E Ratio (TTM)10.3220.58
P/S Ratio (TTM)0.560.93
P/B Ratio (MRQ)2.061.90
Free Cash Flow Yield (TTM)-1.57%3.36%