United Airlines Holdings, Inc. (UAL) Stock

United Airlines Holdings, Inc. (UAL) is a Industrials stock trading at $113.54 (as of 2026-08-24), with a market capitalization of $36.85B and a trailing P/E of 10.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

United Airlines Holdings, Inc., through subsidiaries, provides air transportation services across North America and other international regions, carrying passengers and cargo using its mainline and regional fleets. It also offers services such as catering, ground handling, training, and maintenance to third parties.

Understand United Airlines Holdings, Inc.: how it makes money

United Airlines provides air transportation for people and cargo, and also sells related services like catering, ground handling, training, and maintenance for third parties, earning revenue primarily from passenger fares with additional contributions from cargo and other operating revenue.

The profit engine is passenger transportation revenue, which is the dominant revenue source, with smaller incremental support from cargo and other operating revenue.

Revenue by segment (latest quarter)
Passengers$13.2B
Cargo$0.4B
Other ops$1.0B

Business quality (Mixed): Revenue is clearly broken out into passenger, cargo, and other operating revenue, but investor visibility is limited by the lack of supporting unit or volume operating KPIs in the provided data.

Valuation: At 10× earnings, UAL trades 45% below the Transportation average (18×). Note: one-time items can distort reported P/E.

Bull case

  • Broad revenue sources tied to its airline business: In the provided figures, revenue comes mainly from Passenger revenue, with additional streams from Cargo and Other ops.
  • Exposure to premium travel demand: The company also reports Premium revenues as a distinct line item within the provided revenue candidates.

Bear case

  • Concentration in passenger revenue: Passenger revenue is far larger than Cargo and Other ops in the provided breakdown, so weakness in passenger revenue could disproportionately affect results.
  • Limited operating metric detail here: The only operational KPIs provided are revenue line items, with no unit-based drivers included, which can make it harder to diagnose performance changes.
Valuation — source: SEC EDGAR (first-party)
Price$113.54
Market Cap$36.85B
P/E Ratio10.5
EV / EBITDA3.4
Price / Book2.21
Price / Sales0.59
FCF Yield6.9%
DCF Value (model)$98.04
DCF Upside vs Price-13.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$59.07B
Net Margin5.7%
Revenue Growth (YoY)16.0%
EPS Growth (YoY)-17.3%
FCF Growth (YoY)-71.3%
Financial Health — source: SEC EDGAR
Altman Z-Score1.38 (distress)
Valuation vs Sector & Industry
Stock P/E10.5
Sector P/E (Industrials)26.0
Industry P/E (Transportation)17.0
vs Sector-59.5%
vs Industry-38.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($4.18B)
Institutional Holders Tracked10
Congressional Trades (recent)5
Company
SectorIndustrials
IndustryTransportation
CEOJ. Scott Kirby
Employees109,200
CountryUS
IPO Date2006-02-06

Related Companies (Transportation; 8 comparable transport companies)

  • Delta Air Lines, Inc. (DAL)
  • American Airlines Group Inc. (AAL)
  • Southwest Airlines Co. (LUV)
  • Alaska Air Group, Inc. (ALK)
  • JetBlue Airways Corporation (JBLU)
  • SkyWest, Inc. (SKYW)
  • Frontier Group Holdings, Inc. (ULCC)
  • Allegiant Travel Company (ALGT)
UAL earnings history · UAL institutional & insider holders · UAL KPIs & operating metrics · UAL financials · UAL investor presentations & press releases · UAL SEC filings · UAL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.