Last 48 quarters of trend data · Industrials · Airlines, Airports & Air Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
United Airlines Holdings, Inc.'s quarterly P/E stands at 10.8x, down 27.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 13.0% YoY to 7.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 11.58 | 10.76 | 8.76 | 8.32 | 6.70 | 14.88 | 8.26 | 4.92 | 3.07 | — | 5.70 | 3.09 | 4.23 |
| — | -27.7% | +6.1% | +69.1% | +118.2% | — | +44.9% | +59.1% | -27.4% | — | +54.2% | +8.7% | -52.2% | |
| P/S Ratio | 0.65 | 0.51 | 0.59 | 0.52 | 0.43 | 0.44 | 0.55 | 0.32 | 0.27 | 0.31 | 0.25 | 0.24 | 0.32 |
| — | +18.4% | +7.4% | +62.0% | +57.7% | +38.8% | +120.3% | +31.7% | -15.5% | -1.1% | -0.1% | +16.6% | +32.8% | |
| P/B Ratio | 2.53 | 1.90 | 2.39 | 2.20 | 1.95 | 1.82 | 2.56 | 1.66 | 1.54 | 1.71 | 1.47 | 1.59 | 2.36 |
| — | +4.0% | -6.6% | +32.8% | +26.2% | +6.5% | +74.8% | +4.5% | -34.6% | -21.3% | -18.8% | -27.4% | -20.0% | |
| P/FCF | 15.02 | 2.41 | — | — | 7.00 | 2.32 | 14.79 | 53.93 | 2.37 | 2.65 | — | — | 1.91 |
| — | +3.7% | — | — | +195.2% | -12.5% | — | — | +24.1% | -4.8% | — | — | +39.9% | |
| EV / EBITDA | 8.30 | 7.59 | 7.22 | 7.23 | 6.01 | 8.72 | 8.84 | 4.42 | 3.74 | 13.05 | 6.60 | 4.33 | 5.08 |
| — | -13.0% | -18.3% | +63.7% | +60.6% | -33.1% | +34.0% | +2.0% | -26.3% | -25.5% | -0.4% | -1.7% | -7.8% | |
| EV / EBIT | 13.47 | 13.49 | 11.12 | 10.02 | 7.94 | 95.39 | 8.84 | 6.32 | 4.71 | 45.98 | 9.25 | 5.39 | 6.04 |
| — | -85.9% | +25.8% | +58.6% | +68.8% | +107.4% | -4.4% | +17.4% | -22.1% | -17.6% | +39.6% | -6.5% | -36.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
United Airlines Holdings, Inc.'s operating margin was 6.8% in Q1 2026, down 2.2 pp QoQ and up 2.2 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 8.4% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.1% | 63.3% | 64.1% | 64.6% | 64.9% | 62.6% | 30.7% | 29.9% | 32.0% | 21.9% | 27.1% | 30.7% | 34.4% |
| — | +1.0% | +108.9% | +116.1% | +102.6% | +186.6% | +13.4% | -2.5% | -6.9% | +14.1% | -6.0% | +5.3% | +37.8% | |
| Operating Margin | 8.0% | 6.8% | 9.0% | 9.2% | 8.7% | 4.6% | 10.2% | 10.5% | 12.9% | 0.8% | 7.3% | 12.0% | 10.7% |
| — | +48.6% | -11.9% | -13.1% | -32.4% | +481.9% | +39.7% | -12.2% | +20.3% | +309.9% | -34.0% | +6.0% | +47.6% | |
| Net Margin | 5.7% | 4.8% | 6.8% | 6.2% | 6.4% | 2.9% | 6.7% | 6.5% | 8.8% | -1.0% | 4.4% | 7.8% | 7.6% |
| — | +63.4% | +1.3% | -4.1% | -27.7% | +396.2% | +52.3% | -17.2% | +16.4% | +41.7% | -35.3% | +7.3% | +179.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.0% | 4.5% | 7.1% | 6.9% | 7.5% | 3.1% | 8.2% | 8.8% | 13.4% | -1.3% | 6.6% | 13.7% | 15.0% |
| — | +46.6% | -13.5% | -22.0% | -44.2% | +328.4% | +23.8% | -36.0% | -10.3% | +53.2% | -53.9% | -35.4% | +72.5% | |
| ROA | 4.5% | 0.9% | 1.4% | 1.2% | 1.3% | 0.5% | 1.3% | 1.3% | 1.8% | -0.2% | 0.8% | 1.6% | 1.5% |
| — | +72.4% | +1.9% | -6.5% | -30.4% | +397.2% | +61.5% | -14.8% | +21.9% | +38.4% | -32.8% | +14.8% | +216.9% | |
| ROIC | 9.1% | 1.9% | 2.5% | 2.6% | 2.7% | 1.2% | 3.2% | 3.5% | 4.2% | 0.2% | 2.0% | 3.7% | 3.3% |
| — | +52.6% | -22.8% | -26.2% | -34.6% | +528.9% | +62.7% | -5.7% | +26.2% | +316.8% | -36.6% | -5.5% | +22.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
United Airlines Holdings, Inc.'s Debt/EBITDA ratio is 17.7x, up from 14.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 10.6% YoY to 0.70x, tightening the short-term liquidity position. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.03 | 1.95 | 2.03 | 2.56 | 2.45 | 2.61 | 2.65 | 2.67 | 3.25 | 3.79 | 3.94 | 3.96 | 4.65 |
| — | -25.3% | -23.5% | -4.2% | -24.7% | -31.2% | -32.7% | -32.4% | -30.0% | -29.8% | -25.4% | -47.6% | -51.5% | |
| Debt / EBITDA | 4.06 | 17.67 | 14.54 | 17.25 | 15.93 | 24.68 | 20.74 | 13.26 | 12.94 | 43.18 | 21.86 | 14.58 | 16.40 |
| — | -28.4% | -29.9% | +30.1% | +23.2% | -42.8% | -5.1% | -9.1% | -21.1% | -26.6% | -5.5% | -18.5% | -35.8% | |
| Current Ratio | 0.65 | 0.70 | 0.65 | 0.67 | 0.70 | 0.78 | 0.81 | 0.79 | 0.77 | 0.75 | 0.83 | 0.89 | 0.91 |
| — | -10.6% | -20.4% | -16.1% | -9.7% | +3.4% | -2.7% | -10.2% | -15.1% | -17.3% | -17.0% | -14.2% | -12.3% | |
| Quick Ratio | 0.59 | 0.64 | 0.59 | 0.61 | 0.65 | 0.72 | 0.74 | 0.72 | 0.71 | 0.69 | 0.76 | 0.82 | 0.86 |
| — | -11.5% | -21.1% | -16.0% | -8.9% | +4.6% | -2.6% | -12.1% | -17.7% | -20.3% | -19.6% | -16.0% | -13.1% | |
| Interest Coverage | 3.77 | 3.61 | 4.28 | 5.51 | 5.03 | 0.40 | 5.13 | 4.94 | 5.74 | 0.58 | 2.79 | 4.34 | 4.08 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying UAL stock.
United Airlines Holdings, Inc.'s current P/E is 11.6x. The average P/E over the last 4 quarters is 8.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
United Airlines Holdings, Inc.'s current operating margin is 8.0%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking United Airlines Holdings, Inc.'s business trajectory between earnings reports.