Price to Sales (P/S)
since 2005
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United Airlines Holdings Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Calculation
United Airlines Holdings Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Operating revenue1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of United Airlines Holdings Inc. Annual Report.
- Share Price Trend
- The share price exhibits significant volatility over the observed period. It starts relatively high near $40 in early 2006, declines sharply to a low point of approximately $4.26 by early 2009, likely reflecting challenging market conditions during that period. Subsequently, the price recovers steadily, peaking near $87.81 in early 2019. A marked decline occurs again around early 2021, dropping to about $47.43, followed by fluctuations in the range of $45 to $49 before rising substantially to $92.17 by early 2025.
- Sales Per Share Evolution
- Sales per share show a declining trend from $178.42 in 2006 to a low near $48.21 in 2021, indicating a significant drop in revenue-generating capacity per share over those years. Following 2021, sales per share recover strongly, reaching $174.32 by 2025, nearly returning to levels observed two decades earlier. There are periods of moderate growth between 2012 and 2020, with sales per share rising from approximately $111.75 to $174.47, before the sharp dip and subsequent recovery.
- Price-to-Sales Ratio (P/S) Pattern
- The price-to-sales ratio fluctuates considerably throughout the timeframe. It remains below 0.5 for most years prior to 2011, dipping to a minimal 0.03 in 2009, consistent with the sharp drop in share price and sales per share that year. The ratio peaks at 1.11 in 2021, despite sales per share being at a low point, indicating a relatively high market valuation compared to sales. Post-2021, the ratio decreases to around 0.28 in 2024 before climbing back to 0.53 in 2025, suggesting varying investor sentiment about the company’s sales performance and future prospects.
- Overall Financial Insights
- The data reveal a company that has endured considerable financial stress, with a significant downturn around 2008-2009 followed by a recovery phase extending into the late 2010s. The sharp drop in sales per share and share price in 2021 points to an extraordinary event or crisis impact. Recovery thereafter is strong, as indicated by rising sales per share and share price. However, the P/S ratio's fluctuations highlight shifting market evaluations of the company's sales productivity and potential growth. Investors appear to have reassessed valuations multiple times in response to market and operational developments over the period.
Comparison to Competitors
United Airlines Holdings Inc., P/S, long-term trends, comparison to competitors
| United Airlines Holdings Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Feb 27, 2025 | |||||
| Feb 29, 2024 | |||||
| Feb 16, 2023 | |||||
| Feb 18, 2022 | |||||
| Mar 1, 2021 | |||||
| Feb 25, 2020 | |||||
| Feb 28, 2019 | |||||
| Feb 22, 2018 | |||||
| Feb 23, 2017 | |||||
| Feb 18, 2016 | |||||
| Feb 20, 2015 | |||||
| Feb 20, 2014 | |||||
| Feb 25, 2013 | |||||
| Feb 22, 2012 | |||||
| Feb 22, 2011 | |||||
| Feb 26, 2010 | |||||
| Mar 2, 2009 | |||||
| Feb 29, 2008 | |||||
| Mar 16, 2007 | |||||
| Mar 31, 2006 |
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., P/S, long-term trends, comparison to sector (transportation)
| United Airlines Holdings Inc. | Transportation | |
|---|---|---|
| Feb 27, 2025 | ||
| Feb 29, 2024 | ||
| Feb 16, 2023 | ||
| Feb 18, 2022 | ||
| Mar 1, 2021 | ||
| Feb 25, 2020 | ||
| Feb 28, 2019 | ||
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 18, 2016 | ||
| Feb 20, 2015 | ||
| Feb 20, 2014 | ||
| Feb 25, 2013 | ||
| Feb 22, 2012 | ||
| Feb 22, 2011 | ||
| Feb 26, 2010 | ||
| Mar 2, 2009 | ||
| Feb 29, 2008 | ||
| Mar 16, 2007 | ||
| Mar 31, 2006 |
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., P/S, long-term trends, comparison to industry (industrials)
| United Airlines Holdings Inc. | Industrials | |
|---|---|---|
| Feb 27, 2025 | ||
| Feb 29, 2024 | ||
| Feb 16, 2023 | ||
| Feb 18, 2022 | ||
| Mar 1, 2021 | ||
| Feb 25, 2020 | ||
| Feb 28, 2019 | ||
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 18, 2016 | ||
| Feb 20, 2015 | ||
| Feb 20, 2014 | ||
| Feb 25, 2013 | ||
| Feb 22, 2012 | ||
| Feb 22, 2011 | ||
| Feb 26, 2010 | ||
| Mar 2, 2009 | ||
| Feb 29, 2008 | ||
| Mar 16, 2007 | ||
| Mar 31, 2006 |
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).