Stocks · Industrials · Airlines, Airports & Air Services
United Airlines Holdings, Inc. UAL
$112.51 +0.65% Close, Oct 2, 2026 · NASDAQ · Market cap $36.52B
Inexpensive vs sector
Next earnings report: Oct 20, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +6.7%).
- The shares trade at 10.5× trailing earnings, higher than 80% of the company's own readings over the past five years.
- Revenue over the last four quarters was $62.90B, up 8.5% from a year earlier, accelerating from 4.7% a quarter earlier.
PromtFinance scores
Each score is a percentile within the Industrials sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 47%
- EPS growth (TTM, YoY)Bottom 46%
- FCF growth (TTM, YoY)Bottom 26%
- Revenue growth, 3-year CAGRTop 31%
- Revenue growth accelerationTop 27%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 47%
- Gross marginTop 4%
- Operating marginTop 47%
- Cash conversion (OCF / net income)Top 19%
- Accruals (lower is better)Top 30%
- Net debt / EBITDA (lower is better)Bottom 36%
- Interest coverTop 50%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 4%
- Free-cash-flow yieldTop 19%
- EBITDA / enterprise valueTop 8%
- Sales / enterprise valueTop 19%
- P/E vs own 5-year history (lower is better)Bottom 29%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 43%
- 6-month returnTop 26%
- 1-year return vs S&P 500Top 38%
- Distance from 52-week highTop 37%
- Trend checklist (0–4)Top 27%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 45%
- Consecutive EPS beatsTop 5%
- Share of analysts rating BuyTop 38%
- Upside to consensus price targetTop 38%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 40%
- Maximum drawdown, 3 yearsTop 47%
- Beta vs S&P 500 (lower is better)Bottom 21%
- Net debt / EBITDA (lower is better)Bottom 36%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 4.7% | 8.5% | ↑ |
| EPS growth (YoY) | 2.2% | 7.2% | ↑ |
| Gross margin | 46.8% | 65.1% | ↑ |
| Operating margin | 8.6% | 7.7% | ↓ |
| FCF margin | 7.0% | 4.0% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 8.5% | 4.7% | ↑ | Top 47% |
| EPS growth (TTM, YoY) | 7.2% | 2.2% | ↑ | Bottom 46% |
| Gross margin | 65.1% | 46.8% | ↑ | Top 4% |
| Operating margin | 7.7% | 8.6% | ↓ | Top 47% |
| Net margin | 5.6% | 5.7% | ↓ | — |
| Free-cash-flow margin | 4.0% | 7.0% | ↓ | — |
| Return on invested capital | 6.4% | — | Top 47% | |
| Revenue growth, 3-year CAGR | 9.5% | — | Top 31% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.55×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -6.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -0.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 2.81×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 3.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 0.21%
- Shareholder yield
- 0.21%
- Share count change, 1 year
- -0.2%
- Share count change, 3-year CAGR
- -0.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 16, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +6.7%
- Average 2-day reaction, last 8
- +0.4%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $158.60
- Target vs current price
- +41.0%
- Analysts with a rating
- 47
- Share rating Buy or Strong Buy
- 66%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 15, 2026 | +5.9% | +0.5% | -2.2% | +5.0% | — |
| Apr 21, 2026 | +10.2% | -1.8% | -7.1% | -6.4% | +20.1% |
| Jan 20, 2026 | +5.8% | -4.3% | -5.0% | +0.5% | -16.9% |
| Oct 15, 2025 | +4.9% | +0.9% | -2.9% | -7.9% | +13.7% |
| Jul 16, 2025 | +1.6% | +2.4% | +5.1% | +14.0% | +13.6% |
| Apr 15, 2025 | +21.3% | +2.0% | +1.9% | +25.7% | +33.5% |
| Jan 21, 2025 | +12.8% | +2.9% | -0.6% | -3.8% | -37.6% |
| Oct 15, 2024 | +5.0% | +0.8% | +16.5% | +40.8% | +68.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 15, 2026 | $1.99 | $1.88 | +5.9% | $17.67B |
| Apr 21, 2026 | $1.19 | $1.08 | +10.2% | $14.61B |
| Jan 20, 2026 | $3.10 | $2.93 | +5.8% | $15.40B |
| Oct 15, 2025 | $2.78 | $2.65 | +4.9% | $15.22B |
| Jul 16, 2025 | $3.87 | $3.81 | +1.6% | $15.24B |
| Apr 15, 2025 | $0.91 | $0.75 | +21.3% | $13.21B |
| Jan 21, 2025 | $3.26 | $2.89 | +12.8% | $14.70B |
| Oct 15, 2024 | $3.33 | $3.17 | +5.0% | $14.84B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 10.5× | 8.2× | 80th | Top 4% |
| P/E (forward) | 12.6× | — | — | — |
| EV / EBITDA | 7.2× | — | — | Top 8% |
| EV / Sales | 0.95× | — | — | Top 19% |
| Free-cash-flow yield | 6.97% | — | — | Top 19% |
| Earnings yield | 9.50% | — | — | Top 4% |
P/E over the past five years
Range 4.2× – 22.6× since Dec 31, 2022. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +20.8%
- Earnings per share growth (TTM)
- +7.2%
- Change in P/E multiple
- +21.4%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 10
- 50-day average slope (20 days)
- -5.1%
- 200-day average slope (20 days)
- +0.9%
- Distance from 50-day average
- -2.9%
- Distance from 200-day average
- +3.1%
- RSI (14)
- 50.7
- Relative volume
- 1.04×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 37.9%
- Volatility vs own 5-year history
- 18th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.59
- Correlation with S&P 500
- 0.50
- Current drawdown from 1-year high
- -17.3%
- Maximum drawdown, 3 years
- -49.2%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 17, 2021 | Mar 7, 2022 | -50.0% | 245 days | 655 days (Oct 14, 2024) |
| Jan 21, 2025 | Apr 8, 2025 | -49.2% | 54 days | 174 days (Dec 16, 2025) |
| Jan 6, 2026 | Mar 30, 2026 | -27.5% | 57 days | 53 days (Jun 15, 2026) |
| Jun 26, 2026 | Sep 1, 2026 | -23.1% | 46 days | Not yet recovered |
| Dec 3, 2020 | Feb 1, 2021 | -20.0% | 39 days | 15 days (Feb 23, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $36.52B
- P/E (TTM)
- 10.5
- EPS, diluted (TTM)
- $10.69
- Revenue (TTM)
- $62.90B
- 52-week range
- $84.64 – $138.77
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $24.63B | $44.95B | $53.72B | $57.06B | $59.07B |
| Gross profit | $721.0M | $10.64B | $15.20B | $19.42B | $37.88B |
| Operating income | -$1.02B | $2.34B | $4.21B | $5.10B | $4.71B |
| Net income | -$1.96B | $737.0M | $2.62B | $3.15B | $3.35B |
| EPS (diluted) | -$6.10 | $2.23 | $7.89 | $9.45 | $10.22 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.84B | $14.70B | $13.21B | $15.24B | $15.22B | $15.40B | $14.61B | $17.67B |
| Net income | $965.0M | $984.0M | $387.0M | $973.0M | $949.0M | $1.04B | $699.0M | $805.0M |
| EPS (diluted) | $2.90 | $2.94 | $1.16 | $2.97 | $2.90 | $3.19 | $2.14 | $2.46 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.07B | $6.07B | $6.91B | $9.45B | $8.43B |
| Capital expenditure | -$2.11B | -$4.82B | -$7.17B | -$5.62B | -$5.87B |
| Free cash flow | -$40.0M | $1.25B | -$260.0M | $3.83B | $2.56B |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $532.0M | $0 | $0 | -$162.0M | -$637.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $16.64B
- Total assets
- $84.57B
- Total liabilities
- $67.87B
- Total debt
- $33.67B
- Net debt
- $23.50B
- Shareholders’ equity
- $16.70B
As of Jun 30, 2026 (filed Jul 16, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Jan 7, 2008 | $2.15 | Jan 23, 2008 |
Short interest
- Shares sold short
- 18,214,957
- Days to cover
- 4.83
- Change vs previous report
- +4.5%
FINRA short interest, settlement date Sep 15, 2026.