Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
United Airlines Holdings Inc., profitability ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | United Airlines Holdings Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | United Airlines Holdings Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | United Airlines Holdings Inc. ROE improved from 2021 to 2022 and from 2022 to 2023. |
| ROA | A profitability ratio calculated as net income divided by total assets. | United Airlines Holdings Inc. ROA improved from 2021 to 2022 and from 2022 to 2023. |
Operating Profit Margin
United Airlines Holdings Inc., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 4,211) | 2,337) | (1,022) | (6,359) | 4,301) | |
| Operating revenue | 53,717) | 44,955) | 24,634) | 15,355) | 43,259) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 7.84% | 5.20% | -4.15% | -41.41% | 9.94% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| FedEx Corp. | 5.45% | 6.68% | 6.98% | 3.49% | 6.41% | |
| Uber Technologies Inc. | 2.98% | -5.75% | -21.97% | -43.66% | -60.76% | |
| Union Pacific Corp. | 37.65% | 39.87% | 42.83% | 40.11% | 39.40% | |
| United Parcel Service Inc. | 10.05% | 13.05% | 13.17% | 9.08% | 10.52% | |
| Operating Profit Margin, Sector | ||||||
| Transportation | 9.61% | 10.07% | 9.44% | 3.36% | 7.41% | |
| Operating Profit Margin, Industry | ||||||
| Industrials | 9.90% | 9.06% | 9.24% | 3.13% | 9.69% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Operating revenue
= 100 × 4,211 ÷ 53,717 = 7.84%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | United Airlines Holdings Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Profit Margin
United Airlines Holdings Inc., net profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 2,618) | 737) | (1,964) | (7,069) | 3,009) | |
| Operating revenue | 53,717) | 44,955) | 24,634) | 15,355) | 43,259) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 4.87% | 1.64% | -7.97% | -46.04% | 6.96% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| FedEx Corp. | 4.41% | 4.09% | 6.23% | 1.86% | 0.77% | |
| Uber Technologies Inc. | 5.06% | -28.68% | -2.84% | -60.76% | -60.13% | |
| Union Pacific Corp. | 26.45% | 28.13% | 29.92% | 27.38% | 27.27% | |
| United Parcel Service Inc. | 7.37% | 11.51% | 13.25% | 1.59% | 5.99% | |
| Net Profit Margin, Sector | ||||||
| Transportation | 7.28% | 4.73% | 9.05% | -2.93% | 2.42% | |
| Net Profit Margin, Industry | ||||||
| Industrials | 8.32% | 5.04% | 5.85% | 0.09% | 4.11% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net profit margin = 100 × Net income (loss) ÷ Operating revenue
= 100 × 2,618 ÷ 53,717 = 4.87%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | United Airlines Holdings Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Return on Equity (ROE)
United Airlines Holdings Inc., ROE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 2,618) | 737) | (1,964) | (7,069) | 3,009) | |
| Stockholders’ equity | 9,324) | 6,896) | 5,029) | 5,960) | 11,531) | |
| Profitability Ratio | ||||||
| ROE1 | 28.08% | 10.69% | -39.05% | -118.61% | 26.09% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| FedEx Corp. | 15.23% | 15.34% | 21.64% | 7.03% | 3.04% | |
| Uber Technologies Inc. | 16.77% | -124.54% | -3.43% | -55.18% | -59.94% | |
| Union Pacific Corp. | 43.14% | 57.54% | 46.06% | 31.54% | 32.65% | |
| United Parcel Service Inc. | 38.76% | 58.36% | 90.44% | 204.41% | 135.90% | |
| ROE, Sector | ||||||
| Transportation | 27.38% | 19.64% | 30.78% | -10.82% | 8.33% | |
| ROE, Industry | ||||||
| Industrials | 27.70% | 15.38% | 15.38% | 0.24% | 14.56% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 2,618 ÷ 9,324 = 28.08%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | United Airlines Holdings Inc. ROE improved from 2021 to 2022 and from 2022 to 2023. |
Return on Assets (ROA)
United Airlines Holdings Inc., ROA calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 2,618) | 737) | (1,964) | (7,069) | 3,009) | |
| Total assets | 71,104) | 67,358) | 68,175) | 59,548) | 52,611) | |
| Profitability Ratio | ||||||
| ROA1 | 3.68% | 1.09% | -2.88% | -11.87% | 5.72% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| FedEx Corp. | 4.56% | 4.45% | 6.32% | 1.75% | 0.99% | |
| Uber Technologies Inc. | 4.88% | -28.47% | -1.28% | -20.35% | -26.78% | |
| Union Pacific Corp. | 9.50% | 10.69% | 10.27% | 8.57% | 9.60% | |
| United Parcel Service Inc. | 9.47% | 16.24% | 18.57% | 2.15% | 7.67% | |
| ROA, Sector | ||||||
| Transportation | 6.44% | 4.34% | 6.88% | -2.01% | 2.09% | |
| ROA, Industry | ||||||
| Industrials | 5.61% | 3.31% | 3.40% | 0.04% | 2.56% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 2,618 ÷ 71,104 = 3.68%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | United Airlines Holdings Inc. ROA improved from 2021 to 2022 and from 2022 to 2023. |