Stock Analysis on Net
Stock Analysis on Net

United Airlines Holdings Inc. (NASDAQ:UAL)

$24.99

Net Profit Margin
since 2005

Microsoft Excel

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Calculation

United Airlines Holdings Inc., net profit margin, long-term trends, calculation

Microsoft Excel
Net profit margin = 100 × Net income (loss)1 ÷ Operating revenue1
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Dec 31, 2005 = 100 × ÷

Based on: 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

Net Income (Loss) Trends
The net income experienced considerable volatility over the analyzed period. Initially, there was a significant loss of -21,176 million USD in 2005, followed by a strong recovery in 2006 to a profit of 22,876 million USD. The following years showed fluctuating profits and losses, with losses recurring in 2008, 2009, 2012, and notably in 2020, where the net loss reached -7,069 million USD. After 2020, the company returned to profitability, with net income gradually increasing and reaching 3,149 million USD in 2024.
Operating Revenue Patterns
Operating revenue demonstrated a general upward trend until 2019, growing from 17,379 million USD in 2005 to a peak of 43,259 million USD in 2019. Revenue dipped sharply in 2020 to 15,355 million USD, reflecting a significant contraction likely linked to external adverse conditions. Subsequently, revenue rebounded strongly, climbing to 57,063 million USD in 2023 and reaching 57,063 million USD in 2024, surpassing pre-2020 levels.
Net Profit Margin Dynamics
The net profit margin mirrored the trends in net income, displaying high volatility throughout the period. It ranged from a negative margin of -121.85% in 2005 to a positive peak of 19.39% in 2015. Several years recorded negative margins, particularly 2008, 2009, 2012, and a pronounced negative margin of -46.04% in 2020. After 2020, margins returned to positive values, stabilizing between approximately 1.64% and 5.52% through 2024.
Overall Financial Insights
The data highlights a cyclical financial performance characterized by significant swings in profitability and revenue. The period includes sharp downturns, notably in 2005, 2008-2009, and 2020, with recoveries following each downturn. The substantial decline in 2020 aligns with a major external disruption, after which a strong recovery in both revenue and profitability is evident. The company's ability to return to growth and positive margins post-crisis indicates resilience and improving financial health towards the end of the period.

Comparison to Competitors

United Airlines Holdings Inc., net profit margin, long-term trends, comparison to competitors

Microsoft Excel
United Airlines Holdings Inc. FedEx Corp. Uber Technologies Inc. Union Pacific Corp. United Parcel Service Inc.
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Based on: 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., net profit margin, long-term trends, comparison to sector (transportation)

Microsoft Excel
United Airlines Holdings Inc. Transportation
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Dec 31, 2005

Based on: 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., net profit margin, long-term trends, comparison to industry (industrials)

Microsoft Excel
United Airlines Holdings Inc. Industrials
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Based on: 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).