Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
United Airlines Holdings Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
| 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 Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | United Airlines Holdings Inc. net profit margin ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | United Airlines Holdings Inc. ROE improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| ROA | A profitability ratio calculated as net income divided by total assets. | United Airlines Holdings Inc. ROA improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Operating Profit Margin
United Airlines Holdings Inc., operating profit margin calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Operating income (loss) | (43) | 1,377) | 1,458) | 878) | (1,376) | (408) | 1,037) | (270) | (1,381) | (2,135) | (1,615) | (1,637) | (972) | 861) | 1,473) | 1,472) | 495) | 652) | 1,203) | 1,161) | 276) | |||||||
| Operating revenue | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | 10,888) | 11,380) | 11,402) | 9,589) | 10,491) | 11,003) | 10,777) | 9,032) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | 7.52% | 5.20% | 1.35% | 0.37% | -3.51% | -4.15% | -13.85% | -37.01% | -63.87% | -41.41% | -14.73% | -0.87% | 6.80% | 9.94% | 9.55% | 9.00% | 8.39% | 7.97% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 6.37% | 6.68% | 6.67% | 6.47% | 6.54% | 6.98% | 5.76% | 5.27% | 4.24% | 3.49% | 4.68% | 5.43% | 6.27% | 6.41% | 6.71% | 6.88% | 7.18% | 7.44% | — | — | — | |||||||
| Uber Technologies Inc. | -4.76% | -5.75% | -7.71% | -9.07% | -13.04% | -21.97% | -28.04% | -36.73% | -47.47% | -43.66% | -41.16% | -37.93% | -61.73% | -60.76% | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 39.22% | 39.87% | 40.71% | 41.59% | 42.90% | 42.83% | 41.98% | 41.35% | 39.80% | 40.11% | 40.44% | 40.25% | 40.54% | 39.40% | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 12.52% | 13.05% | 13.64% | 13.56% | 13.46% | 13.17% | 11.60% | 11.27% | 10.48% | 9.08% | 9.69% | 9.75% | 9.97% | 10.52% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Operating profit margin = 100
× (Operating income (loss)Q1 2023
+ Operating income (loss)Q4 2022
+ Operating income (loss)Q3 2022
+ Operating income (loss)Q2 2022)
÷ (Operating revenueQ1 2023
+ Operating revenueQ4 2022
+ Operating revenueQ3 2022
+ Operating revenueQ2 2022)
= 100 × (-43 + 1,377 + 1,458 + 878)
÷ (11,429 + 12,400 + 12,877 + 12,112)
= 7.52%
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 Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Net Profit Margin
United Airlines Holdings Inc., net profit margin calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) | (194) | 843) | 942) | 329) | (1,377) | (646) | 473) | (434) | (1,357) | (1,897) | (1,841) | (1,627) | (1,704) | 641) | 1,024) | 1,052) | 292) | 462) | 836) | 684) | 147) | |||||||
| Operating revenue | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | 10,888) | 11,380) | 11,402) | 9,589) | 10,491) | 11,003) | 10,777) | 9,032) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | 3.93% | 1.64% | -1.85% | -3.43% | -6.85% | -7.97% | -16.19% | -37.89% | -63.43% | -46.04% | -19.85% | -5.25% | 2.43% | 6.96% | 6.60% | 6.22% | 5.43% | 5.15% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 3.79% | 4.09% | 5.60% | 5.49% | 5.88% | 6.23% | 3.85% | 3.28% | 2.50% | 1.86% | -0.50% | 0.11% | 0.65% | 0.77% | 5.25% | 7.23% | 7.16% | 6.99% | — | — | — | |||||||
| Uber Technologies Inc. | -9.95% | -28.68% | -30.45% | -39.39% | -29.52% | -2.84% | -15.87% | -7.97% | -36.50% | -60.76% | -57.26% | -53.43% | -72.96% | -60.13% | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 27.91% | 28.13% | 28.95% | 29.23% | 30.06% | 29.92% | 29.19% | 28.60% | 27.02% | 27.38% | 27.40% | 27.54% | 27.85% | 27.27% | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 10.90% | 11.51% | 11.07% | 10.92% | 10.90% | 13.25% | 6.83% | 6.57% | 5.78% | 1.59% | 5.71% | 5.66% | 5.73% | 5.99% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Net profit margin = 100
× (Net income (loss)Q1 2023
+ Net income (loss)Q4 2022
+ Net income (loss)Q3 2022
+ Net income (loss)Q2 2022)
÷ (Operating revenueQ1 2023
+ Operating revenueQ4 2022
+ Operating revenueQ3 2022
+ Operating revenueQ2 2022)
= 100 × (-194 + 843 + 942 + 329)
÷ (11,429 + 12,400 + 12,877 + 12,112)
= 3.93%
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 Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Return on Equity (ROE)
United Airlines Holdings Inc., ROE calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) | (194) | 843) | 942) | 329) | (1,377) | (646) | 473) | (434) | (1,357) | (1,897) | (1,841) | (1,627) | (1,704) | 641) | 1,024) | 1,052) | 292) | 462) | 836) | 684) | 147) | |||||||
| Stockholders’ equity | 6,668) | 6,896) | 4,898) | 3,964) | 3,624) | 5,029) | 5,431) | 4,904) | 5,206) | 5,960) | 7,003) | 8,517) | 9,418) | 11,531) | 11,301) | 10,320) | 9,802) | 9,995) | 9,469) | 8,639) | 8,336) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | 28.79% | 10.69% | -15.35% | -30.80% | -54.75% | -39.05% | -59.20% | -112.74% | -129.12% | -118.61% | -64.70% | -19.56% | 10.76% | 26.09% | 25.04% | 25.60% | 23.20% | 21.30% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 14.28% | 15.34% | 20.94% | 19.71% | 20.96% | 21.64% | 13.78% | 11.65% | 9.18% | 7.03% | -1.85% | 0.40% | 2.48% | 3.04% | 18.28% | 25.76% | 25.09% | 23.55% | — | — | — | |||||||
| Uber Technologies Inc. | -44.86% | -124.54% | -141.59% | -151.07% | -70.86% | -3.43% | -16.91% | -7.20% | -28.97% | -55.18% | -77.12% | -72.97% | -91.96% | -59.94% | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 56.19% | 57.54% | 60.21% | 53.89% | 57.26% | 46.06% | 44.49% | 41.12% | 32.09% | 31.54% | 31.23% | 33.82% | 37.53% | 32.65% | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 53.80% | 58.36% | 65.94% | 67.12% | 69.80% | 90.44% | 53.57% | 56.25% | 72.34% | 204.41% | 81.97% | 100.32% | 130.16% | 135.90% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
ROE = 100
× (Net income (loss)Q1 2023
+ Net income (loss)Q4 2022
+ Net income (loss)Q3 2022
+ Net income (loss)Q2 2022)
÷ Stockholders’ equity
= 100 × (-194 + 843 + 942 + 329)
÷ 6,668 = 28.79%
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 Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Return on Assets (ROA)
United Airlines Holdings Inc., ROA calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) | (194) | 843) | 942) | 329) | (1,377) | (646) | 473) | (434) | (1,357) | (1,897) | (1,841) | (1,627) | (1,704) | 641) | 1,024) | 1,052) | 292) | 462) | 836) | 684) | 147) | |||||||
| Total assets | 70,417) | 67,358) | 68,968) | 70,381) | 69,038) | 68,175) | 69,294) | 71,049) | 61,662) | 59,548) | 61,189) | 54,901) | 53,055) | 52,611) | 52,199) | 52,150) | 50,639) | 44,792) | 44,837) | 44,691) | 44,018) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | 2.73% | 1.09% | -1.09% | -1.73% | -2.87% | -2.88% | -4.64% | -7.78% | -10.90% | -11.87% | -7.40% | -3.03% | 1.91% | 5.72% | 5.42% | 5.07% | 4.49% | 4.75% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 4.18% | 4.45% | 6.11% | 5.84% | 6.21% | 6.32% | 3.66% | 3.02% | 2.30% | 1.75% | -0.50% | 0.11% | 0.66% | 0.99% | 6.68% | 9.33% | 9.27% | 8.74% | — | — | — | |||||||
| Uber Technologies Inc. | -10.38% | -28.47% | -28.43% | -32.45% | -19.26% | -1.28% | -6.39% | -2.82% | -11.37% | -20.35% | -23.87% | -24.68% | -34.66% | -26.78% | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 10.61% | 10.69% | 10.82% | 10.63% | 10.64% | 10.27% | 9.93% | 9.48% | 8.44% | 8.57% | 8.43% | 8.75% | 9.65% | 9.60% | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 14.93% | 16.24% | 16.09% | 15.60% | 15.35% | 18.57% | 9.81% | 9.37% | 8.17% | 2.15% | 7.35% | 7.05% | 7.05% | 7.67% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
ROA = 100
× (Net income (loss)Q1 2023
+ Net income (loss)Q4 2022
+ Net income (loss)Q3 2022
+ Net income (loss)Q2 2022)
÷ Total assets
= 100 × (-194 + 843 + 942 + 329)
÷ 70,417 = 2.73%
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 Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |