United Airlines Holdings, Inc. Ratios | P/E, ROE & Valuation

On the Key Ratios page for United Airlines Holdings, Inc. (UAL), the latest P/E of 11.0 frames valuation, while ROE 22.50% and ROIC 6.37% indicates profitability and capital efficiency. Together with the current ratio of 0.78 and debt-to-equity 2.02, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

UAL Historical Per Share Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Revenue per Share$192.60$171.26$161.89$136.19$76.53$49.24$172.20$149.29$124.48$110.68
Net Income per Share$10.71$9.45$7.89$2.23$-6.10$-22.67$11.98$7.67$7.06$6.85
Operating Cash Flow per Share$27.29$28.35$20.83$18.38$6.42$-13.25$27.50$22.28$11.44$16.78
Free Cash Flow per Share$7.79$11.49$-0.78$3.78$-0.12$-18.79$9.48$7.57$-1.30$7.02
Cash per Share$50.94$43.44$43.36$49.72$57.18$37.46$19.68$14.28$12.51$13.41
Book Value per Share$51.12$38.04$28.10$20.89$15.62$19.11$45.90$36.30$28.77$26.22
Tangible Book Value per Share$29.16$16.40$6.24$-1.19$-7.15$-4.51$15.92$8.53$2.21$1.53
Interest Debt per Share$106.98$105.15$116.07$115.44$127.19$108.20$83.98$73.71$49.23$37.26
CAPEX per Share$19.50$16.85$21.61$14.60$6.55$5.54$18.02$14.71$12.75$9.76

UAL Historical Valuation Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Price to Earnings (P/E)11.0310.275.2316.89-7.18-1.917.3510.929.5510.64
Price to Book (P/B)2.312.551.471.82.82.261.922.312.342.78
Price to Sales (P/S)0.610.570.250.280.570.880.510.560.540.66
Enterprise Value to EBITDA7.316.735.678.1523.37-6.555.817.615.785.3
EV to Sales0.9810.830.931.432.280.9210.880.92
EV to Operating Cash Flow6.946.066.426.8817.02-8.465.766.699.616.06
EV to Free Cash Flow24.3414.94-170.6633.45-879.39-5.9716.7219.7-84.2614.49
Enterprise Value$61.89B$57.22B$44.37B$41.71B$35.18B$34.97B$39.82B$41.26B$33.37B$33.60B

UAL Historical Profitability Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Return on Equity (ROE)22.50%24.84%28.08%10.69%-39.05%-118.61%26.09%21.13%24.54%26.13%
Return on Invested Capital (ROIC)6.37%7.04%6.06%3.42%-1.47%-10.29%8.31%6.95%8.20%8.93%
Return on Tangible Assets4.52%4.71%4.10%1.23%-3.23%-13.55%6.67%5.13%6.25%7.08%
Earnings Yield9.05%9.73%19.12%5.92%-13.94%-52.41%13.60%9.16%10.47%9.40%
Free Cash Flow Yield6.62%11.84%-1.90%10.02%-0.28%-43.45%10.76%9.04%-1.94%9.63%
Dividend Yield0.00%0.00%0.00%0.00%0.00%2.62%0.00%0.00%0.00%0.00%

UAL Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202420232022202120202019201820172016
Current Ratio0.780.810.8311.191.160.550.510.560.59
Interest Coverage3.833.632.371.4-0.65-6.416.665.346.557.22
Income Quality2.5532.648.23-1.050.582.32.91.622.48
Debt to Equity2.022.653.945.287.835.51.771.971.651.35
Debt to Assets39.81%45.40%51.67%54.09%57.74%55.00%38.87%40.36%33.99%29.16%
Net Debt to EBITDA2.772.933.925.7214.01-4.022.583.342.241.5

UAL Historical Efficiency Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Receivables Turnover25.4426.3828.324.9614.8111.8631.7128.9628.231.09
Payables Turnover3.818.9810.0410.119.3312.7811.3912.7912.311.62
Inventory Turnover12.2423.9524.6830.9424.3321.8728.7230.6929.2328.47
Days Sales Outstanding14.3513.8412.914.6224.6430.7811.5112.612.9411.74
Days Payables Outstanding95.8540.6636.3436.1139.1128.5632.0528.5329.6831.41
Days of Inventory on Hand29.8115.2414.7911.81516.6912.7111.8912.4912.82

UAL Historical Market Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Enterprise Value to EBITDA7.316.735.678.1523.37-6.555.817.615.785.3
Market Cap$38.39B$32.35B$13.69B$12.44B$14.09B$13.49B$22.13B$23.16B$20.46B$24.07B
Enterprise Value$61.89B$57.22B$44.37B$41.71B$35.18B$34.97B$39.82B$41.26B$33.37B$33.60B
Dividend Yield0.00%0.00%0.00%0.00%0.00%2.62%0.00%0.00%0.00%0.00%
Payout Ratio0.00%0.00%0.00%0.00%0.00%-4.99%0.00%0.00%0.00%0.00%

Frequently Asked Questions

Is United Airlines Holdings, Inc. stock overvalued based on its P/E ratio?

On this page, UAL's current P/E is 11.0, compared with a multi-year average around 10.2. When the current P/E sits near its historical average, valuation may be broadly "in line." Investors typically then focus on trend direction (whether profitability and cash-flow metrics are improving) and balance-sheet risk (liquidity and leverage) rather than treating the P/E in isolation.

What is United Airlines Holdings, Inc. market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $38.39B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

What is a good P/E ratio for United Airlines Holdings, Inc. compared to its industry?

There isn't one universal "good" P/E - P/E should be judged against the business model and expected growth for its sector. A practical approach is: (1) compare the P/E on this page to United Airlines Holdings, Inc.'s own historical range (shown across the table's rows), and (2) benchmark against peer companies using the Screener's P/E filters and the Peers Comparison/Compare tools. If profitability (ROE/ROIC) and cash-flow strength are improving, a higher P/E can be more defensible; if returns are slipping, even a lower P/E may be a value trap.

How does United Airlines Holdings, Inc. compare to its competitors in key financial ratios?

The fastest way to compare United Airlines Holdings, Inc. with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see United Airlines Holdings, Inc. outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

Is United Airlines Holdings, Inc. financially strong based on its ratios?

To assess whether United Airlines Holdings, Inc. is financially strong, review both profitability and balance-sheet risk together. Current ratio is about 0.78, which is below 1.0 and can suggest tighter short-term liquidity. Interest coverage is about 3.83, implying a stronger ability to cover interest expenses. Debt-to-equity is about 2.02, suggesting higher leverage than a low-debt profile. Then confirm the same story is supported by ROE/ROIC (quality of earnings) and by cash-flow backed metrics in the table.

What do United Airlines Holdings, Inc.'s financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If United Airlines Holdings, Inc. is sustaining strong returns (for example ROE at 22.50% and ROIC at 6.37%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.