Stock Analysis on Net

United Airlines Holdings Inc. (NASDAQ:UAL)

This company has been moved to the archive! The financial data has not been updated since April 20, 2023.

Analysis of Profitability Ratios

Microsoft Excel

Profitability Ratios (Summary)

United Airlines Holdings Inc., profitability ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Return on Sales
Operating profit margin 5.20% -4.15% -41.41% 9.94% 7.97%
Net profit margin 1.64% -7.97% -46.04% 6.96% 5.15%
Return on Investment
Return on equity (ROE) 10.69% -39.05% -118.61% 26.09% 21.30%
Return on assets (ROA) 1.09% -2.88% -11.87% 5.72% 4.75%

Based on: 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).

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 2020 to 2021 and from 2021 to 2022.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. United Airlines Holdings Inc. net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. United Airlines Holdings Inc. ROE improved from 2020 to 2021 and from 2021 to 2022.
ROA A profitability ratio calculated as net income divided by total assets. United Airlines Holdings Inc. ROA improved from 2020 to 2021 and from 2021 to 2022.

Operating Profit Margin

United Airlines Holdings Inc., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 2,337 (1,022) (6,359) 4,301 3,292
Operating revenue 44,955 24,634 15,355 43,259 41,303
Profitability Ratio
Operating profit margin1 5.20% -4.15% -41.41% 9.94% 7.97%
Benchmarks
Operating Profit Margin, Competitors2
FedEx Corp. 6.68% 6.98% 3.49% 6.41% 7.44%
Uber Technologies Inc. -5.75% -21.97% -43.66% -60.76%
Union Pacific Corp. 39.87% 42.83% 40.11% 39.40%
United Parcel Service Inc. 13.05% 13.17% 9.08% 10.52%
Operating Profit Margin, Sector
Transportation 10.94% 10.96% 7.08% 6.80%
Operating Profit Margin, Industry
Industrials 9.22% 9.67% 4.46% 9.61%

Based on: 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).

1 2022 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Operating revenue
= 100 × 2,337 ÷ 44,955 = 5.20%

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 2020 to 2021 and from 2021 to 2022.

Net Profit Margin

United Airlines Holdings Inc., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net income (loss) 737 (1,964) (7,069) 3,009 2,129
Operating revenue 44,955 24,634 15,355 43,259 41,303
Profitability Ratio
Net profit margin1 1.64% -7.97% -46.04% 6.96% 5.15%
Benchmarks
Net Profit Margin, Competitors2
FedEx Corp. 4.09% 6.23% 1.86% 0.77% 6.99%
Uber Technologies Inc. -28.68% -2.84% -60.76% -60.13%
Union Pacific Corp. 28.13% 29.92% 27.38% 27.27%
United Parcel Service Inc. 11.51% 13.25% 1.59% 5.99%
Net Profit Margin, Sector
Transportation 5.28% 10.95% 0.66% 1.33%
Net Profit Margin, Industry
Industrials 5.17% 6.38% 1.50% 3.89%

Based on: 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).

1 2022 Calculation
Net profit margin = 100 × Net income (loss) ÷ Operating revenue
= 100 × 737 ÷ 44,955 = 1.64%

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 2020 to 2021 and from 2021 to 2022.

Return on Equity (ROE)

United Airlines Holdings Inc., ROE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net income (loss) 737 (1,964) (7,069) 3,009 2,129
Stockholders’ equity 6,896 5,029 5,960 11,531 9,995
Profitability Ratio
ROE1 10.69% -39.05% -118.61% 26.09% 21.30%
Benchmarks
ROE, Competitors2
FedEx Corp. 15.34% 21.64% 7.03% 3.04% 23.55%
Uber Technologies Inc. -124.54% -3.43% -55.18% -59.94%
Union Pacific Corp. 57.54% 46.06% 31.54% 32.65%
United Parcel Service Inc. 58.36% 90.44% 204.41% 135.90%
ROE, Sector
Transportation 20.60% 36.02% 2.51% 4.49%
ROE, Industry
Industrials 15.98% 17.17% 4.29% 14.53%

Based on: 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).

1 2022 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 737 ÷ 6,896 = 10.69%

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 2020 to 2021 and from 2021 to 2022.

Return on Assets (ROA)

United Airlines Holdings Inc., ROA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net income (loss) 737 (1,964) (7,069) 3,009 2,129
Total assets 67,358 68,175 59,548 52,611 44,792
Profitability Ratio
ROA1 1.09% -2.88% -11.87% 5.72% 4.75%
Benchmarks
ROA, Competitors2
FedEx Corp. 4.45% 6.32% 1.75% 0.99% 8.74%
Uber Technologies Inc. -28.47% -1.28% -20.35% -26.78%
Union Pacific Corp. 10.69% 10.27% 8.57% 9.60%
United Parcel Service Inc. 16.24% 18.57% 2.15% 7.67%
ROA, Sector
Transportation 5.20% 9.49% 0.52% 1.16%
ROA, Industry
Industrials 3.44% 3.87% 0.78% 2.43%

Based on: 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).

1 2022 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 737 ÷ 67,358 = 1.09%

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 2020 to 2021 and from 2021 to 2022.