Total Asset Turnover
since 2005
Calculation
United Airlines Holdings Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Operating revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.77 | = | 57,063) | ÷ | 74,083) |
| Dec 31, 2023 | 0.76 | = | 53,717) | ÷ | 71,104) |
| Dec 31, 2022 | 0.67 | = | 44,955) | ÷ | 67,358) |
| Dec 31, 2021 | 0.36 | = | 24,634) | ÷ | 68,175) |
| Dec 31, 2020 | 0.26 | = | 15,355) | ÷ | 59,548) |
| Dec 31, 2019 | 0.82 | = | 43,259) | ÷ | 52,611) |
| Dec 31, 2018 | 0.92 | = | 41,303) | ÷ | 44,792) |
| Dec 31, 2017 | 0.89 | = | 37,736) | ÷ | 42,326) |
| Dec 31, 2016 | 0.91 | = | 36,556) | ÷ | 40,140) |
| Dec 31, 2015 | 0.93 | = | 37,864) | ÷ | 40,861) |
| Dec 31, 2014 | 1.04 | = | 38,901) | ÷ | 37,353) |
| Dec 31, 2013 | 1.04 | = | 38,279) | ÷ | 36,812) |
| Dec 31, 2012 | 0.99 | = | 37,152) | ÷ | 37,628) |
| Dec 31, 2011 | 0.98 | = | 37,110) | ÷ | 37,988) |
| Dec 31, 2010 | 0.59 | = | 23,229) | ÷ | 39,598) |
| Dec 31, 2009 | 0.87 | = | 16,335) | ÷ | 18,684) |
| Dec 31, 2008 | 1.04 | = | 20,194) | ÷ | 19,461) |
| Dec 31, 2007 | 0.83 | = | 20,143) | ÷ | 24,220) |
| Dec 31, 2006 | 0.76 | = | 19,340) | ÷ | 25,369) |
| Dec 31, 2005 | 0.90 | = | 17,379) | ÷ | 19,342) |
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
The financial data exhibits notable fluctuations in key metrics over the analyzed period.
- Operating Revenue
- The operating revenue shows a general upward trend from 2005 to 2019, increasing from approximately $17.4 billion in 2005 to $43.3 billion in 2019. A significant decline is observed in 2020, where revenue drops sharply to about $15.4 billion, reflecting a major disruption. Following this dip, a strong recovery is evident with revenues rising to $24.6 billion in 2021 and further increasing in subsequent years, reaching $57.1 billion in 2024. This pattern indicates a profound impact likely due to an external shock in 2020, with a substantial rebound and growth thereafter.
- Total Assets
- Total assets generally rise across the entire period, starting at $19.3 billion in 2005 and reaching $52.6 billion by 2019. Despite steady increases overall, the asset base shows accelerated growth from 2019 onward, climbing to $59.5 billion in 2020 and peaking near $74.1 billion in 2024. This growth in assets may have supported the post-2020 recovery phase, indicating increased investment or financial restructuring.
- Total Asset Turnover
- Total asset turnover ratios fluctuate over time, beginning at 0.9 in 2005 and demonstrating variability without a consistent upward or downward trend until 2019. Notably, the ratio exhibits a steep decline in 2020 to 0.26, correlating with the drop in operating revenue and possibly reflecting underutilization of assets during that period. A gradual recovery is observed in asset turnover from 2021 onwards, reaching 0.77 by 2024. This suggests that efficiency in using assets to generate revenue improved after the downturn but remained below earlier peak levels.
Overall, these patterns point to a period of growth and expansion prior to 2020, a severe disruption in that year impacting revenues and asset utilization, followed by gradual recovery and enhanced financial scale through increased assets and rebounding revenues.
Comparison to Competitors
United Airlines Holdings Inc., total asset turnover, long-term trends, comparison to competitors
| United Airlines Holdings Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.77 | 1.01 | 0.86 | 0.36 | 1.30 |
| Dec 31, 2023 | 0.76 | 1.03 | 0.96 | 0.36 | 1.28 |
| Dec 31, 2022 | 0.67 | 1.09 | 0.99 | 0.38 | 1.41 |
| Dec 31, 2021 | 0.36 | 1.01 | 0.45 | 0.34 | 1.40 |
| Dec 31, 2020 | 0.26 | 0.94 | 0.33 | 0.31 | 1.36 |
| Dec 31, 2019 | 0.82 | 1.28 | 0.45 | 0.35 | 1.28 |
| Dec 31, 2018 | 0.92 | 1.25 | — | 0.39 | 1.44 |
| Dec 31, 2017 | 0.89 | 1.24 | — | 0.37 | 1.45 |
| Dec 31, 2016 | 0.91 | 1.09 | — | 0.36 | 1.51 |
| Dec 31, 2015 | 0.93 | 1.28 | — | 0.40 | 1.52 |
| Dec 31, 2014 | 1.04 | 1.38 | — | 0.46 | 1.64 |
| Dec 31, 2013 | 1.04 | 1.32 | — | 0.44 | 1.53 |
| Dec 31, 2012 | 0.99 | 1.43 | — | 0.44 | 1.39 |
| Dec 31, 2011 | 0.98 | 1.44 | — | 0.43 | 1.53 |
| Dec 31, 2010 | 0.59 | 1.39 | — | 0.39 | 1.47 |
| Dec 31, 2009 | 0.87 | 1.46 | — | 0.33 | 1.42 |
| Dec 31, 2008 | 1.04 | 1.48 | — | 0.45 | 1.62 |
| Dec 31, 2007 | 0.83 | 1.47 | — | 0.43 | 1.27 |
| Dec 31, 2006 | 0.76 | 1.42 | — | 0.43 | 1.43 |
| Dec 31, 2005 | 0.90 | 1.44 | — | 0.38 | 1.21 |
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., total asset turnover, long-term trends, comparison to sector (transportation)
| United Airlines Holdings Inc. | Transportation | |
|---|---|---|
| Dec 31, 2024 | 0.77 | 0.87 |
| Dec 31, 2023 | 0.76 | 0.88 |
| Dec 31, 2022 | 0.67 | 0.92 |
| Dec 31, 2021 | 0.36 | 0.76 |
| Dec 31, 2020 | 0.26 | 0.69 |
| Dec 31, 2019 | 0.82 | 0.86 |
| Dec 31, 2018 | 0.92 | 0.98 |
| Dec 31, 2017 | 0.89 | 0.95 |
| Dec 31, 2016 | 0.91 | 0.92 |
| Dec 31, 2015 | 0.93 | 0.97 |
| Dec 31, 2014 | 1.04 | 1.05 |
| Dec 31, 2013 | 1.04 | 1.02 |
| Dec 31, 2012 | 0.99 | 1.01 |
| Dec 31, 2011 | 0.98 | 1.03 |
| Dec 31, 2010 | 0.59 | 0.88 |
| Dec 31, 2009 | 0.87 | 0.95 |
| Dec 31, 2008 | 1.04 | 1.09 |
| Dec 31, 2007 | 0.83 | 0.97 |
| Dec 31, 2006 | 0.76 | 0.97 |
| Dec 31, 2005 | 0.90 | 0.93 |
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., total asset turnover, long-term trends, comparison to industry (industrials)
| United Airlines Holdings Inc. | Industrials | |
|---|---|---|
| Dec 31, 2024 | 0.77 | 0.65 |
| Dec 31, 2023 | 0.76 | 0.67 |
| Dec 31, 2022 | 0.67 | 0.66 |
| Dec 31, 2021 | 0.36 | 0.58 |
| Dec 31, 2020 | 0.26 | 0.50 |
| Dec 31, 2019 | 0.82 | 0.62 |
| Dec 31, 2018 | 0.92 | 0.67 |
| Dec 31, 2017 | 0.89 | 0.62 |
| Dec 31, 2016 | 0.91 | 0.61 |
| Dec 31, 2015 | 0.93 | 0.54 |
| Dec 31, 2014 | 1.04 | 0.49 |
| Dec 31, 2013 | 1.04 | 0.47 |
| Dec 31, 2012 | 0.99 | 0.46 |
| Dec 31, 2011 | 0.98 | 0.45 |
| Dec 31, 2010 | 0.59 | 0.41 |
| Dec 31, 2009 | 0.87 | 0.39 |
| Dec 31, 2008 | 1.04 | 0.43 |
| Dec 31, 2007 | 0.83 | 0.41 |
| Dec 31, 2006 | 0.76 | 0.43 |
| Dec 31, 2005 | 0.90 | 0.40 |
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).