Current Ratio
since 2005
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United Airlines Holdings Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Analysis of Revenues
- Aggregate Accruals
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Calculation
United Airlines Holdings Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | = | ÷ | |||
| Dec 31, 2024 | = | ÷ | |||
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The current ratio for the period examined demonstrates considerable fluctuation. Initially, the ratio exhibited a gradual decline from 2005 to 2008, followed by a period of relative stability and then a renewed downward trend before a significant increase in recent years.
- Initial Decline (2005-2008)
- From 2005 to 2008, the current ratio decreased from 0.81 to 0.67. This indicates a weakening in the company’s ability to cover its short-term liabilities with its short-term assets. The decline suggests a potential increase in reliance on short-term financing or a faster growth rate of current liabilities compared to current assets.
- Period of Fluctuations (2009-2015)
- Between 2009 and 2015, the current ratio experienced volatility, ranging from 0.79 to 0.54. While there were some improvements, such as the increase to 0.79 in 2009 and 0.97 in 2011, the overall trend was downward, culminating in a low of 0.54 in 2015. This period suggests ongoing challenges in maintaining a comfortable liquidity position.
- Recent Improvement (2016-2021)
- A notable shift occurred from 2016 onwards. The current ratio began to recover, reaching 1.19 in 2021. This improvement indicates a strengthening of the company’s short-term liquidity position, likely due to an increase in current assets relative to current liabilities. The ratio exceeded 1.00 in 2020 and 2021, suggesting the company possessed more current assets than current liabilities during those years.
- Subsequent Decline (2022-2025)
- Following the peak in 2021, the current ratio decreased again, falling to 0.65 by 2025. This recent decline warrants attention, as it suggests a potential re-emergence of liquidity concerns. The decrease from 1.19 in 2021 to 0.65 in 2025 represents a substantial weakening in the company’s ability to meet its short-term obligations.
Overall, the current ratio has demonstrated a cyclical pattern over the examined period. While periods of improvement have occurred, the most recent trend indicates a concerning decline in short-term liquidity. Continued monitoring of this ratio is recommended to assess the company’s ongoing financial health.
Comparison to Competitors
United Airlines Holdings Inc., current ratio, long-term trends, comparison to competitors
| United Airlines Holdings Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | |||||
| Dec 31, 2024 | |||||
| Dec 31, 2023 | |||||
| Dec 31, 2022 | |||||
| Dec 31, 2021 | |||||
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| Dec 31, 2019 | |||||
| Dec 31, 2018 | |||||
| Dec 31, 2017 | |||||
| Dec 31, 2016 | |||||
| Dec 31, 2015 | |||||
| Dec 31, 2014 | |||||
| Dec 31, 2013 | |||||
| Dec 31, 2012 | |||||
| Dec 31, 2011 | |||||
| Dec 31, 2010 | |||||
| Dec 31, 2009 | |||||
| Dec 31, 2008 | |||||
| Dec 31, 2007 | |||||
| Dec 31, 2006 | |||||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Transportation)
United Airlines Holdings Inc., current ratio, long-term trends, comparison to sector (transportation)
| United Airlines Holdings Inc. | Transportation | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
United Airlines Holdings Inc., current ratio, long-term trends, comparison to industry (industrials)
| United Airlines Holdings Inc. | Industrials | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).