UAL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $112.51
Market Cap (MRQ) $36.52B
P/E (TTM) 10.5
EPS (TTM) $10.67
Revenue (TTM) $62.90B
ROE (TTM) 23.3%
Debt/Equity 1.4
52W Range $85–$139

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About United Airlines Holdings, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

United Airlines, Inc. is a major airline in the United States headquartered in Chicago, Illinois. It operates an extensive domestic and international route network across the United States and to destinations on six continents. Regional service is provided by independent carriers operating under the United Express brand, and the Star Alliance, of which United was one of the five founding airlines, extends its network throughout the world.

The principal figure behind the formation of the airline was William E. Boeing, founder of the Boeing Aircraft Company in 1916. He launched an air service between Victoria, British Columbia, and Seattle and later acquired three additional airlines, completing the merger by 1931 to form United Air Lines. Through successive mergers and acquisitions, United has remained one of the largest airlines in the world for much of its history.

History

Network

Destinations

As of 2026, United Airlines flies (or has flown) to the following destinations. This table does not include destinations served by United's regional subsidiary, United Express.

Hubs

As of 2026, United operates eight hubs:

Chicago–O'Hare

Denver

Guam

Houston–Intercontinental

Los Angeles

Newark

San Francisco

Washington–Dulles

United Express

Alliance and codeshare agreements

United Airlines is a member of the Star Alliance that has 26 member airlines that operate a combined fleet of over 5,000 aircraft, with more than 19,000 flights, serving more than 1,150 airports with access to over 1,000 lounges in 190 countries.

United has codeshare agreements with the following airlines:

Fleet

Strategy

Cabins

United Polaris

United Polaris is the airline's international business class product. The seats convert into a 6-foot-6-inch (1.98 m) flatbed and include personal storage areas, power outlets and upgraded dining and amenity offerings.

Polaris seats are available on all Boeing 767s and 787s and on internationally configured 757s and 777s. Narrowbody 757 aircraft use a 2–2 layout without direct aisle access from each seat, while widebody aircraft provide aisle access for all passengers.

United has introduced an updated Polaris suite for Boeing 787-9 aircraft, planned to enter service after 2026. The new suites will include sliding doors and larger 4K screens, with the first row featuring "Polaris Studio" seats with additional space and features.

Polaris passengers receive priority check-in and boarding along with access to United Polaris lounges or partner lounges.

United First and United Business

United First is the highest cabin offered on domestically configured aircraft. When these aircraft operate internationally, the cabin is marketed as United Business. Seats on narrowbody aircraft have a 38-inch (970 mm) seat pitch, while domestically configured Boeing 777-200ERs feature fully flat seats in a staggered layout. Amenities include priority services, complimentary alcoholic beverages and meals on longer flights, and dedicated check-in areas.

United introduced a redesigned domestic first-class seat in 2015, initially on Airbus A320 family aircraft, subsequently rolling it out across the mainline fleet.

In 2019, United announced a fleet-wide increase in first and business class seating, including the introduction of the premium-configured CRJ550 and later the CRJ450 regional aircraft.

United's newest narrowbody interiors debuted on the Airbus A321neo in 2023.

United Premium Plus

United Premium Plus is the airline's international premium economy class cabin. It is available on all internationally configured widebody aircraft, featuring recliner seats with increased width, legroom and footrests. Typical layouts are 2–2–2 on Boeing 767s, 2–3–2 on 787s and 2–4–2 on 777s.

United has introduced an revised Premium Plus seat for Boeing 787-9 aircraft, planned to enter service after 2026 that will have privacy dividers and upgraded lighting.

Premium Plus includes enhanced dining, complimentary alcoholic beverages and upgraded bedding and amenities. The product entered service in 2019 after initially being sold as extended-legroom seating during the rollout period.

Economy Plus

Economy Plus seats are located in the forward section of the economy cabin and in exit rows. They offer 5 to 6 inches (130 to 150 mm) of additional pitch and extra recline compared to standard economy seats. All other in-flight amenities are the same as United Economy.

Economy Plus is complimentary for MileagePlus Premier members, with eligibility depending on status tier.

United Economy

United Economy is offered on all aircraft, with a typical 31-inch (790 mm) seat pitch and 2 to 5 inches (51 to 127 mm) of recline. Many aircraft include personal seat-back entertainment systems, while others offer streaming media through onboard Wi-Fi. Some Boeing 737 aircraft are also equipped with DirecTV. Under the United NEXT initiative, all mainline aircraft are planned to have personal touchscreens by 2025.

Food and beverage service varies by route. Domestic and short-haul international flights offer buy-on-board options, while long-haul international flights include complimentary meals. All flights offer free snacks and non-alcoholic beverages, with complimentary beer and wine on long-haul international routes.

Basic Economy

Basic Economy is United's lowest fare type. Passengers receive the same onboard service as standard economy but face restrictions including no advance seat assignment, limited carry-on allowances and reduced eligibility for MileagePlus and Premier benefits.

Reward programs

Frequent flyer programs

MileagePlus is the frequent flyer program for United Airlines. Published MileagePlus Premier tiers are Premier Silver, Premier Gold, Premier Platinum, and Premier 1K. Unpublished tiers include United Global Services and Chairman's Circle.

As United is a Star Alliance member, customers reaching certain qualifications are entitled to certain benefits which may be used across the entirety of the Star Alliance network. Premier Silver customers are given Star Alliance Silver status, while Premier Gold customers and higher are given Star Alliance Gold status.

Airport lounges

United Club is the airline lounge associated with United Airlines and United Express carriers. The United Club replaced the former United Red Carpet Club and Continental Airlines Presidents Club prior to United Airlines' merger with Continental.

Polaris lounges are lounges available exclusively to long-haul travelers in United's Polaris business class cabin, as well as passengers in first and business class on Star Alliance carriers. Amenities include à la carte dining, shower facilities, and sleeping pods.

Corporate affairs

Ownership and structure

United Airlines, Inc. is a publicly traded company under its parent holding company, United Airlines Holdings, Inc., a Delaware corporation listed on Nasdaq under the ticker symbol UAL. As of January 2025, it has a market capitalization exceeding $35 billion. United's operating revenues and operating expenses account for nearly 100% of the holding company's revenues and operating expenses. United's operating revenues and expenses account for nearly all of the holding company's financial activity.

Headquartered in the Willis Tower in Chicago, United ranked No. 83 on the 2025 Fortune 500 list of the largest U.S. corporations by total revenue. Through United Airlines Holdings, the company also holds a 9.9% stake in Mesa Airlines, a regional carrier operating under the United Express brand.

Business trends

The key trends for United Airlines are (as of the end of the calendar year):

Headquarters and other facilities

The headquarters of United Airlines is located in the Willis Tower (formerly the Sears Tower) in Chicago, the building's largest tenant.

In 2007, United moved approximately 350 executives and administrative staff from its Elk Grove campus, in suburban Chicago, to a new headquarters at 77 West Wacker Drive (which was renamed the United Building) in downtown Chicago. The relocation was completed in 2007 after the airline received $5.5 million in city incentives. Following its 2010 merger with Continental Airlines, United announced plans to consolidate its corporate offices in downtown Chicago. The company accepted a $35 million incentive package from the City of Chicago to relocate approximately 2,500 remaining suburban employees to the Willis Tower. United had initially leased approximately 470,000 sq ft (44,000 m2) across 12 floors of the building in 2010 to establish its operations center. On August 13, 2012, the airline announced it would relocate its headquarters from 77 West Wacker to Willis Tower, leasing an additional 200,000 sq ft (19,000 m2) and occupying a total of 20 floors. In 2019, United renewed its lease at Willis Tower through 2033.

The former Elk Grove campus was gradually annexed into Mount Prospect. While most corporate functions were relocated to Chicago, the site continued to house information technology operations, including a 172,000 sq ft (16,000 m2) data center completed in 2013. As of 2021, approximately 100 employees remained at the Mount Prospect facility to operate the data center. In December 2021, the remaining campus buildings were sold to CloudHQ, which subsequently redeveloped portions of the site into data center facilities.

United also maintains a significant corporate presence in downtown Houston, leasing 225,000 sq ft (20,900 m2) of office space in the 609 Main at Texas tower since 2017. At the time of the lease, the airline had approximately 1,600 employees based in Houston. United's Houston operations largely reflect its 2010 merger with Houston-based Continental Airlines.

Corporate identity

Brand image

The pre-merger United logo, commonly nicknamed the "tulip", was developed in the early 1970s by the designer Saul Bass as part of a new brand image.

The logo represented the airline's monogram as well as a modernized version of the airline's shield logo which had been adopted in the 1930s, but fell out of use by the late 1960s. The ribbon-like rendering has also been said to symbolize the motion of flight. In 2010, United announced they would be merging with Continental Airlines and as a result, the combined airline would keep the United name but discontinue using the tulip logo and use the Continental Airlines "globe" identity and livery instead, designed in 1991 by the Lippincott company.

In 2019 United ran Her Art Here, a competition inviting female artists based in the United States to design aircraft liveries. Two winning designs, representing New York and New Jersey and California, were applied to Boeing 757-200s; both aircraft were returned to the standard livery in early 2025.

Marketing themes

United's earliest slogan, "The Main Line Airway", emphasized its signature New York-Chicago-San Francisco route, and was replaced in 1965 with "Fly the Friendly Skies", which was in use until 1996 in its first iteration. The "It's time to fly" slogan was created in 2004. After the merger of United and Continental in October 2010, the slogan changed to "Let's fly together" until September 2013, when United announced a return of the "Fly the Friendly Skies" slogan in an ad campaign to start the following day. The resurrected slogan would be accompanied by the 1924 George Gershwin song "Rhapsody in Blue" as its theme song, and a voiceover provided by Matt Damon.

United had licensed its theme song, "Rhapsody in Blue", from Gershwin's estate for US$500,000 (equivalent to $2,828,947 in 2025) in 1976. "Rhapsody" would have entered the public domain in 2000, but the Copyright Term Extension Act of 1998 extended its copyright another 20 years until January 1, 2020, when it officially entered the public domain. United announced that it would continue to use "Rhapsody in Blue" as its theme song following the merger with Continental.

Environmental initiatives

Because over 98 percent of United's greenhouse gas emissions are from jet fuel, its environmental strategy has focused on operational fuel efficiency initiatives and investments in sustainably produced, low-carbon alternative fuels.

On August 23, 2011, United announced a conversion to paperless flight decks with 11,000 iPads for its pilots. Each iPad, which weighs less than 1.5 pounds (0.68 kg), will replace approximately 38 pounds (17 kg) of paper operating manuals, navigation charts, reference handbooks, flight checklists, logbooks, and weather information. The green benefits include reductions in paper use, printing, and fuel consumption. This shift not only streamlines the flight process but also significantly enhances operational efficiency and safety by ensuring pilots have the most up-to-date information readily available.

On November 7, 2011, United flew the world's first commercial aviation flight on a microbially derived biofuel. The aircraft was fueled with 40 percent Solajet, which is Solazyme's algae-derived renewable jet fuel, and 60 percent petroleum-derived jet fuel. This flight was operated by the Eco-Skies Boeing 737-800 aircraft from IAH to ORD.

On January 15, 2013, Aviation Partners Boeing (APB), a joint venture between Aviation Partners Inc. and Boeing, announced that United had agreed to replace the Blended Winglets on its Boeing 737NG aircraft with APB's Split Scimitar Winglet (SSW), significantly reducing drag. Once the SSWs are installed, it is estimated that APB's winglet technology will save United more than $250 million annually in fuel costs.

On June 30, 2015, United invested $30 million in Fulcrum BioEnergy, an alternative fuel company. Fulcrum's alternative fuel is produced through a clean and efficient thermochemical process and reduces lifecycle carbon emissions by more than 80 percent. As part of its investment, United will work with Fulcrum to develop up to five alternative fuel refineries near its U.S. hubs. These refineries will produce up to 180 million U.S. gallons (680 million liters) of sustainable aviation alternative fuel per year, and United will have the opportunity to purchase at least 90 million U.S. gallons (340 million liters) per year for a minimum of 10 years, making it the largest aviation alternative fuel commitment to date.

On March 11, 2016, United became the first airline in the world to fly on commercial-scale quantities of such fuels on a continuous basis, which were procured from AltAir Fuels. This fuel was produced from sustainable feedstocks such as non-edible natural oils and agricultural wastes and is expected to provide a greater than 60 percent reduction in carbon dioxide emissions on a lifecycle basis when compared to traditional jet fuel. United has agreed to purchase up to 15 million U.S. gallons (57 million liters) of sustainable alternative fuel from AltAir Fuels for use in Los Angeles over a three-year period.

In 2016, United began partnering with Clean the World to repurpose items from the airline's international premium class amenity kits and donate the hygiene products to those in critical need. Clean the World provides hygiene education and soap to promote handwashing, which helps prevent hygiene-related deaths. During the first year of this partnership, United expected to divert 60,000 pounds (27,200 kg) of material that otherwise would have gone to landfills.

In 2017, United started a partnership with Audubon International to protect raptors—including hawks, ospreys and owls—in and around New York-area airports and resettle the birds-of-prey at suitable golf course habitats where the species are more likely to thrive.

In 2022, United expanded its use of sustainable aviation fuel (SAF) overseas, to Amsterdam's Schiphol Airport. It was the first US airline to purchase sustainable jet fuel overseas. United began the use of sustainable fuel at San Francisco International Airport and London Heathrow in 2023, and at Chicago O'Hare and Los Angeles International Airport in 2024.

Employee relations

United Airlines was the first airline to see a successful unionization of flight attendants when the Association of Flight Attendants-CWA (AFA) was founded in 1945 by five United Airlines flight attendants. The AFA has represented flight attendants from United Airlines since. Their contract became amendable in August 2021 and 99.9% of the flight attendants who voted were in favor of authorizing a strike on August 28, 2024.

United Airlines maintenance technicians are represented by the International Brotherhood of Teamsters. Their contract became amendable on December 5, 2024.

The International Association of Machinists and Aerospace Workers (IAM) District 141 represents approximately 34,000 Fleet Service, Passenger Service, Reservations, Stockroom, Central Load Planner, Maintenance Instructor, Fleet Technical Instructor, Emergency Procedures Instructor and Security Officer workers. Their contract became amendable on May 1, 2025.

With over 18,000 members, the United Airlines pilots are the largest pilot group in the world and represented by the Air Line Pilots Association (ALPA). ALPA was founded by United Air Lines Captain David L. Behncke and 23 other key figures in Chicago, Illinois, on July 27, 1931. In the 1930s, flying was a perilous occupation; thus, from the time of its formation to today, one of ALPA's main goals has been to improve air safety. The United pilots' current contract will become amendable on September 30, 2027.

United Aviate Academy

United Aviate Academy is a flight training school owned and operated by United Airlines, located at Phoenix Goodyear Airport in Goodyear, Arizona. It opened in 2022 as the primary training facility for the United Aviate pilot development program.

Students train under Federal Aviation Administration Part 141 standards, progressing through private, instrument, and commercial pilot certificates. Graduates may transition into the broader Aviate pathway toward employment as United first officers. The academy was established in part to address projected pilot shortages and to expand access to pilot careers.

Accidents and incidents

United Airlines has been involved in numerous accidents and incidents since its founding, including Flight 175 and Flight 93 as part of the September 11 attacks, in which roughly 1000 were killed. The deadliest non-terrorism accident was in 1989, when Flight 232 crash-landed at Sioux Gateway Airport, following an uncontained engine failure leading to total loss of flight controls. 112 of the 296 on board were killed.

Controversies and passenger incidents

Flight 976

United Airlines Flight 976 was a regularly scheduled flight from Ministro Pistarini International Airport, Buenos Aires to John F. Kennedy International Airport, New York City on October 19, 1995. Prior to takeoff, an investment banker became disruptive after consuming two glasses of champagne, began threatening crew members and attempted to pour his own drinks, against airline and federal regulations. After takeoff, the banker was served two more glasses of red wine, after which the crew refused to serve him more alcohol due to his apparent intoxication. When his requests for more alcohol were denied, he pushed over a female flight attendant, climbed onto a service trolley, took off his pants and defecated, used linen napkins as toilet paper, wiped his hands on various service counters and tracked feces throughout the aircraft, after which he entered a lavatory and locked himself in.

A request to divert to Luis Muñoz Marín International Airport in San Juan, Puerto Rico, was denied due to the security risks created by the presence of the President of Portugal Mário Soares, Argentinian foreign minister Guido di Tella and their security details on the flight. The disruptive passenger was arrested by the FBI after landing in New York and charged with interfering with a flight crew and threatening a flight attendant. He later pleaded guilty to the latter charge and was fined $5,000 (having previously agreed to reimburse the airline for its cleanup costs and all the other passengers their airfare, which amounted to nearly $50,000) and given two years' probation. The incident was later dubbed the worst ever case of air rage.

United Breaks Guitars

Animal transport

In 2013, after pressure from PETA, United announced that it would no longer transport monkeys to laboratories. United was the last North American passenger airline to transport these animals to laboratories. United flies more animals and has longer flight stage length than any other US airline, and accounted for one third of animal deaths of US airlines between 2012 and 2017.

Effective March 20, 2018, the PetSafe program was suspended with no new reservations for cargo transport of pets accepted. This came after United announced plans to mark pet carriers in the passenger cabin with bright tags and legislation was introduced in the United States House of Representatives and United States Senate banning the placement of pets in overhead compartments. This was in response to a dog death after a passenger placed it in the overhead compartment following flight attendant instructions, but the flight attendant denied knowing that the luggage contained a dog.

Cybersecurity issues

United awarded airline miles as "bug bounties" to hackers who could identify gaps in the carrier's web security. Two hackers have each been rewarded with 1 million miles of air travel as of July 15, 2015. This cybersecurity program was announced a few weeks after the company experienced two software glitches. The first incident delayed 150 United flights on June 2 due to a problem with its flight dispatching system. Six days later, United's reservation system delayed flights by not allowing passengers to check-in. In addition to the "bug bounty" program, United said it tests systems internally and engages cybersecurity firms.

In July 2019, security researcher Sam Jadali exposed a catastrophic data leak known as DataSpii, involving clickstream data provider DDMR and marketing intelligence company Nacho Analytics (NA). NA granted its members access to real-time data, including the ability to observe United Airlines passengers checking into their flights through the United website. The Washington Post highlighted how DataSpii resulted in the dissemination United passenger information including last names and flight confirmation numbers. The disseminated data also enabled the viewing of United customers' current geographic locations as they checked into their flights via the United website. DataSpii harvested data from millions of Chrome and Firefox users through compromised browser extensions, exploiting United's method of embedding personally identifiable information (PII) directly within the URLs. Jadali's investigation revealed that DDMR facilitated rapid dissemination of this data to additional third parties, often within minutes of acquisition, endangering the privacy of the sensitive data collected.

2017 passenger removal

On the evening of April 9, 2017, a passenger was forcibly removed by law enforcement from United Airlines flight 3411 at Chicago-O'Hare, bound for Louisville. United announced that it needed four seats for airline staff on the sold-out flight. When no passengers volunteered after being offered vouchers worth $800, United staff selected four passengers to leave. Three of them did so, but the fourth, a doctor named David Dao, declined as he said that he had patients to treat the following morning. He was pulled from his seat by Chicago Department of Aviation security officers and dragged by his arms down the aisle after his head was hit against an armrest and he was rendered unconscious. Dao sustained a concussion, broken teeth and a broken nose among other injuries. The incident was captured on smartphone cameras and posted on social media, triggering angry public backlash. Afterwards, United's then-chief executive officer, Oscar Munoz, described Dao as "disruptive and belligerent", apologized for "re-accommodating" the paying customers, and defended and praised staff for "following established procedures". He was widely criticized as "tone-deaf". Munoz later issued a second statement calling what happened a "truly horrific event" and accepting "full responsibility" for it. After a lawsuit, Dao reached an undisclosed settlement with United and airport police. In the aftermath, United's board of directors decided that Munoz would not become its chairman and that executive compensation would be tied to customer satisfaction. Following this incident, passenger complaints increased by 70 percent.

Mail-scan fraud

In February 2021, United Airlines was fined $49 million by the United States Department of Justice on charges of fraud on postal service contracts for transportation of international mail. According to investigators, between 2012 and 2015 United submitted delivery scan data to make it appear that United and its partner airlines complied with International Commercial Air requirements with accurate delivery times when in fact they were automated delivery scans with aspirational delivery times. Some employees within United worked to hide this fact from the United States Postal Service.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorIndustrials industryAirlines employees117,500 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$59.07B
2016-12-31 → 2025-12-31
EPS$10.20
2016-12-31 → 2025-12-31
Free Cash Flow$2.56B
2016-12-31 → 2025-12-31
Net margin5.6%
2016-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend UAL 5Y avg Peer Median Verdict
P/E (TTM) 10.55Y avg ≈7.2 ≈7.2 15.6 Undervalued
P/S (TTM) 0.65Y avg ≈0.5 ≈0.5 0.7 Fair value
P/B (MRQ) 2.25Y avg ≈2.2 ≈2.2 2.8 Fair value
EV / EBITDA 6.05Y avg ≈8.2 ≈8.2 8.1 Undervalued
Price / FCF (TTM) 14.45Y avg ≈-74.8 ≈-74.8 · ·
Price / Cash Flow (TTM) 4.15Y avg ≈3.7 ≈3.7 4.5 Fair value
EV / Revenue 0.85Y avg ≈0.8 ≈0.8 · ·
EV / FCF 17.85Y avg ≈-157.3 ≈-157.3 · ·
Price / Tangible Book (MRQ) 2.65Y avg ≈5.6 ≈5.6 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Ex-dateAmountCurrencyYield
Jan 7, 2008$2.15USD≈7.4%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 7.3%
Next Report Oct 13, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Jul 14, 2026 $1.99 $1.89 5.0%
March 31, 2026 $1.19 $1.08 10.0%
Dec. 31, 2025 $3.10 $2.97 4.5%
Sept. 30, 2025 $2.78 $2.66 4.6%
June 30, 2025 $3.87 $3.85 0.48%
March 31, 2025 $0.91 $0.76 19.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 14
Metric Trend 202520242023202220212020201920182017201620152014
Revenue $59.07B$57.06B$53.72B$44.95B$24.63B$15.36B$43.26B$41.30B$37.78B$36.56B$37.86B$38.90B
Operating Expenses $54.36B$51.97B$49.51B$42.62B$25.66B$21.71B$38.96B$38.07B$34.17B$32.21B$32.70B$36.53B
Operating Income $4.71B$5.10B$4.21B$2.34B$-1.02B$-6.36B$4.30B$3.23B$3.62B$4.34B$5.17B$2.37B
Interest Expense ·······$670M$626M$674M$669M$735M
Interest Income $611M$726M$827M$298M$36M$50M$133M$101M$57M$42M$25M$22M
Other Non-op $144M$-53M$96M$8M$40M$-1.33B$-27M$-72M$-100M$-11M$-352M$-584M
Pretax Income $4.31B$4.17B$3.39B$990M$-2.56B$-8.82B$3.91B$2.65B$3.02B$3.77B$4.22B$1.13B
Income Tax $953M$1.02B$769M$253M$-593M$-1.75B$905M$526M$880M$1.54B$-3.12B$-4M
Net Income $3.35B$3.15B$2.62B$737M$-1.96B$-7.07B$3.01B$2.12B$2.14B$2.23B$7.34B$1.13B
EPS (Basic) $10.32$9.58$7.98$2.26$-6.10$-25.30$11.63$7.70$7.08$6.77$19.52$3.05
EPS (Diluted) $10.20$9.45$7.89$2.23$-6.10$-25.30$11.58$7.67$7.06$6.76$19.47$2.93
Shares (Basic) 324,900,000328,600,000327,800,000326,400,000321,900,000279,400,000258,800,000275,500,000302,700,000329,900,000376,100,000371,100,000
Shares (Diluted) 328,500,000333,200,000331,900,000330,100,000321,900,000279,400,000259,900,000276,700,000303,600,000330,300,000376,900,000389,700,000
EBITDA $7.65B$8.02B$6.88B$4.79B$1.46B$-3.87B$4.30B$3.29B$3.50B$4.34B$5.17B$2.37B
Balance Sheet 27
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents $5.94B$8.77B$6.06B$7.17B$18.28B$11.27B$2.76B$1.69B$1.48B$2.18B$3.01B$2.00B
Short-term Investments $6.30B$5.71B$8.33B$9.25B$123M$414M$2.18B$2.26B$2.32B$2.25B$2.19B$2.38B
Receivables $2.39B$2.16B$1.90B$1.80B$1.66B$1.29B$1.36B$1.43B$1.34B$1.18B$1.13B$1.15B
Inventory ··········$7M·
Prepaid Expense $671M$673M$640M$689M$745M$635M$814M$733M$1.07B$832M$740M$774M
Current Assets $16.86B$18.88B$18.49B$20.06B$21.83B$14.80B$8.19B$7.09B$7.13B$7.31B$7.83B$7.55B
PP&E (Net) $46.12B$42.91B$39.81B···$30.17B$27.40B$26.21B$23.32B$21.58B$19.47B
PP&E (Gross) $73.59B$68.03B$62.52B···$44.71B$40.66B····
Accum. Depreciation $27.47B$25.12B$22.71B···$14.54B$13.27B····
Goodwill $4.53B$4.53B$4.53B$4.53B$4.53B$4.53B$4.52B$4.52B$4.52B$4.52B$4.52B$4.52B
Intangibles $2.65B$2.68B$2.73B$2.76B$2.80B$2.84B$3.01B$3.16B$3.54B$3.63B$4.14B$4.28B
Other Non-current Assets ··$8.89B$8.96B$9.62B$8.74B$9.49B$9.27B$9.01B$9.51B$11.45B$9.58B
Total Assets $76.45B$74.08B$71.10B$67.36B$68.17B$59.55B$52.61B$49.02B$42.35B$40.14B$40.86B$36.59B
Accounts Payable $4.57B$4.19B$3.83B$3.40B$2.56B$1.59B$2.70B$2.36B$2.20B$2.14B$1.87B$1.88B
Current Liabilities $26.13B$23.31B$22.20B$19.99B$18.30B$12.72B$14.94B$13.84B$12.76B$12.29B$12.41B$12.51B
Capital Leases $5.42B$4.51B$4.50B$4.46B$5.15B$4.99B$4.95B$5.28B$996M$822M$727M$571M
Deferred Tax $2.46B$1.58B$594M$0·$0$1.74B$828M$204M··$1.00B
Other Non-current Liabilities $1.48B$1.53B$1.41B$1.37B$1.28B$1.16B$1.02B$1.01B$8.15B$8.46B$9.08B$11.17B
Long-term Debt $21.27B$24.65B$29.07B$31.19B$33.36B$26.75B$14.55B$13.45B$13.27B$10.77B$10.90B$11.27B
Total Debt $21.27B$24.65B$29.07B$31.19B$33.36B$26.75B$14.55B$13.45B$13.27B$10.77B$10.90B$11.43B
Common Stock $4M$4M$4M$4M$4M$4M$3M$3M$3M$3M$4M$4M
Retained Earnings $10.09B$6.88B$3.83B$1.26B$625M$2.63B$9.72B$6.71B$4.55B$3.43B$3.46B$-3.88B
Treasury Stock $3.77B$3.38B$3.44B$3.53B$3.81B$3.90B$3.60B$1.99B$769M$511M$1.61B$367M
AOCI $48M$188M$-62M$175M$-942M$-1.14B$-718M$-803M$-1.15B$-829M$-831M$-1.08B
Stockholders' Equity $15.28B$12.68B$9.32B$6.90B$5.03B$5.96B$11.53B$10.04B$8.79B$8.57B$8.97B$2.40B
Liabilities + Equity $76.45B$74.08B$71.10B$67.36B$68.17B$59.55B$52.61B$49.02B$42.35B$40.14B$40.86B$36.59B
Shares Outstanding 323,470,682327,900,000328,000,000326,900,000323,800,000311,800,000251,200,000269,900,000287,000,000314,600,000364,600,000374,525,916
Cash Flow 18
Metric Trend 202520242023202220212020201920182017201620152014
D&A $2.94B$2.93B$2.67B$2.46B$2.48B$2.49B$2.29B$2.17B$2.10B$1.98B$1.82B$1.68B
Deferred Tax $925M$935M$756M$248M$-583M$-1.74B$882M$512M$957M$1.63B$-3.18B$13M
Amort. of Intangibles $28M$32M$37M$41M$49M$55M$60M$67M$79M$90M$105M$128M
Restructuring ·······$0$0$74M··
Other Non-cash $1.21B$2.43B$866M$2.62B$2.13B$2.19B······
Operating Cash Flow $8.43B$9.45B$6.91B$6.07B$2.07B$-4.13B$6.91B$6.16B$3.47B$5.54B$5.99B$2.63B
CapEx $5.87B$5.62B$7.17B$4.82B$2.11B$1.73B$4.53B$4.07B$3.87B$3.22B$2.75B$2.00B
Investing Cash Flow $-6.35B$-2.65B$-6.11B$-13.83B$-1.67B$50M$-4.56B$-4.46B$-3.80B···
Debt Issued ·$6.14B$2.39B$736M$11.10B$15.68B$1.79B$1.59B$2.54B$808M$1.07B$1.43B
Net Debt Issued $-4.77B$-4.00B$-1.86B$-3.27B$5.89B$11.66B$607M$13M$1.86B$-407M$-1.10B$-1.07B
Stock Issued ·····$1.10B······
Stock Repurchased $637M$162M$0$0$0$353M$1.65B$1.24B$1.84B$2.61B$1.23B$312M
Net Stock Activity $-637M$-162M·$0$0$1.75B$-1.65B$-1.24B$-1.84B$-2.61B$-1.23B$-312M
Financing Cash Flow $-4.95B$-4.18B$-1.89B$-3.35B$6.40B$12.96B$-1.28B$-1.50B$-383M···
Net Change in Cash $-2.87B$2.61B$-1.09B$-11.11B$6.79B$8.87B$1.07B$208M$-712M$-909M$1.00B$-1.22B
Taxes Paid $62M$88M$7M$8M$0$-29M$29M$19M$20M$14M$15M$-16M
Free Cash Flow $2.56B$3.83B$-260M$1.25B$-40M$-5.86B$2.38B$2.00B$-585M$2.32B$3.25B$629M
Levered FCF ·······$1.42B$-1.04B$1.96B$2.08B$-109M
Profitability 7
Metric Trend 202520242023202220212020201920182017201620152014
Operating Margin 8.0%8.9%7.8%5.2%-4.2%-41.4%9.9%8.0%9.3%11.9%13.6%6.1%
Net Margin 5.7%5.5%4.9%1.6%-8.0%-46.0%7.0%5.1%5.7%6.2%19.4%2.9%
Pretax Margin 7.3%7.3%6.3%2.2%-10.4%-57.5%9.0%6.4%8.0%10.4%11.1%2.9%
EBITDA Margin 13.0%14.1%12.8%10.7%5.9%-25.2%9.9%8.0%9.3%11.9%13.6%6.1%
ROA 4.5%4.3%3.8%1.1%-3.1%-12.6%5.9%4.9%5.2%5.6%18.9%3.0%
ROE 23.4%26.1%28.8%12.5%-37.5%-109.1%26.4%21.8%24.5%57.6%129.2%42.1%
ROIC 10.0%10.3%8.5%4.6%-2.0%-15.6%12.7%11.2%11.3%13.2%45.2%17.2%
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 0.60.80.81.01.21.20.50.50.60.60.60.7
Quick Ratio 0.60.70.70.91.11.00.40.40.40.50.50.4
Debt / Equity 1.41.93.14.56.64.51.31.31.51.21.24.8
LT Debt / Equity 1.11.72.74.16.04.21.11.21.31.11.14.2
Interest Coverage ·······4.55.47.17.73.2
Efficiency 2
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 0.80.80.80.70.40.30.90.90.90.91.01.0
Receivables Turnover 25.928.129.026.016.711.531.030.830.031.733.329.4
Per Share 5
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share $47.24$38.66$28.43$21.09$15.53$19.11$45.90$37.03$30.69$27.52$24.59$6.40
Revenue / Share $179.82$171.26$161.85$136.19$76.53$54.96$166.44$149.27$124.30$110.68$100.44$99.75
Cash Flow / Share $25.67$28.35$20.82$18.38$6.42$-14.79$26.58$22.34$11.24$16.78$15.89$6.75
Cash / Share $18.37$26.74$18.47$21.92$56.46$36.14$10.99$6.28$5.16$6.93$8.24$5.35
EPS (TTM) $10.20$9.45$7.89$2.23$-6.10$-25.30$11.58$7.67$7.06$6.76$19.47$2.93
Growth Rates 7
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 3.5%6.2%19.5%82.5%60.4%·······
Revenue CAGR 3Y 9.5%32.3%51.8%·········
Revenue CAGR 5Y 30.9%···········
EPS YoY 7.9%19.8%253.8%·········
EPS CAGR 3Y 66.0%···········
Net Income YoY 6.5%20.3%255.2%·········
Net Income CAGR 3Y 65.7%···········
Valuation (TTM) 14
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM $59.07B$57.06B$53.72B$44.95B$24.63B$15.36B$43.26B$41.30B$37.78B$36.56B$37.86B$38.90B
Net Income TTM $3.35B$3.15B$2.62B$737M$-1.96B$-7.07B$3.01B$2.12B$2.14B$2.23B$7.34B$1.13B
Market Cap $36.17B$31.84B$13.53B$12.33B$14.18B$13.49B$22.13B$22.60B$19.34B$22.93B$20.89B$25.05B
Enterprise Value $45.20B$42.02B$28.22B$27.11B$29.13B$28.55B$31.74B$32.09B$28.81B$29.27B$26.59B$32.10B
P/E 11.010.35.216.9-7.2-1.77.610.99.510.82.922.8
P/S 0.60.60.30.30.60.90.50.50.50.60.60.6
P/B 2.42.51.51.82.82.31.92.32.22.62.310.5
P / Tangible Book 4.55.86.5·········
P / Cash Flow 4.33.42.02.06.9-3.33.23.75.74.13.59.5
P / FCF 14.18.3-52.19.9-354.4-2.39.311.3-33.19.96.439.8
EV / EBITDA 5.95.24.15.719.9-7.47.49.78.26.75.113.5
EV / FCF 17.711.0-108.521.7-728.3-4.913.316.0-49.312.68.251.0
EV / Revenue 0.80.70.50.61.21.90.70.80.80.80.70.8
Earnings Yield 9.1%9.7%19.1%5.9%-13.9%-58.5%13.2%9.2%10.5%9.3%34.0%4.4%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $59.07B $57.06B $53.72B $44.95B $24.63B
Operating Margin % 8.0% 8.9% 7.8% 5.2% -4.2%
Net Income $3.35B $3.15B $2.62B $737M $-1.96B
Diluted EPS $10.20 $9.45 $7.89 $2.23 $-6.10

Institutional owners (13F) 1,199 filers · $47.0B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 1,199
Value held $47.0B
New positions 208
Exited positions 100
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
208 (+33 vs prior Q) 100 (-55 vs prior Q) 378 (-42 vs prior Q) 367 (+63 vs prior Q) +3.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $4,179,783,406 37,379,569 8.89% Shares
BlackRock, Inc. $3,051,086,218 22,436,107 6.49% Shares
VANGUARD CAPITAL MANAGEMENT LLC $2,856,986,304 21,008,797 6.08% Shares
FMR LLC $2,648,243,862 19,473,813 5.63% Shares
PRIMECAP MANAGEMENT CO/CA/ $2,238,617,065 16,461,630 4.76% Shares
Sanders Capital, LLC $2,043,650,649 15,027,948 4.35% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,926,000,940 14,162,813 4.10% Shares
STATE STREET CORP $1,603,065,215 11,788,111 3.41% Shares
Capital World Investors $1,543,985,423 11,353,742 3.29% Shares
GEODE CAPITAL MANAGEMENT, LLC $1,314,001,796 9,536,361 2.80% Shares
JANE STREET GROUP, LLC $1,091,319,750 8,025,000 2.32% Call option
Capital International Investors $849,568,770 6,247,343 1.81% Shares
DIMENSIONAL FUND ADVISORS LP $732,438,765 5,385,982 1.56% Shares
PAR CAPITAL MANAGEMENT INC $728,871,179 5,359,741 1.55% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $617,204,214 4,538,600 1.31% Put option
Boston Partners $591,359,733 4,379,941 1.26% Shares
CITADEL ADVISORS LLC $589,005,192 4,331,239 1.25% Shares
MORGAN STANLEY $550,610,429 4,048,901 1.17% Shares
JPMORGAN CHASE & CO $489,436,951 3,620,362 1.04% Shares
Invesco Ltd. $473,466,416 3,481,627 1.01% Shares
GOLDMAN SACHS GROUP INC $468,516,285 3,445,226 1.00% Shares
Slate Path Capital LP $452,228,217 3,325,452 0.96% Shares
Newport Trust Company, LLC $427,264,043 3,141,879 0.91% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $408,690,747 3,005,300 0.87% Call option
SRS Investment Management, LLC $400,181,445 2,942,727 0.85% Shares
Capital Research Global Investors $388,841,924 2,859,344 0.83% Shares
JANE STREET GROUP, LLC $385,368,462 2,833,800 0.82% Put option
AQR CAPITAL MANAGEMENT LLC $357,842,831 2,631,391 0.76% Shares
NORTHERN TRUST CORP $330,913,987 2,433,370 0.70% Shares
CITADEL ADVISORS LLC $328,116,672 2,412,800 0.70% Put option
CITADEL ADVISORS LLC $295,343,082 2,171,800 0.63% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $293,582,964 2,158,857 0.62% Shares
D. E. Shaw & Co., Inc. $293,484,642 2,158,134 0.62% Shares
JANE STREET GROUP, LLC $292,066,539 2,147,706 0.62% Shares
Balyasny Asset Management L.P. $269,100,684 1,978,827 0.57% Shares
Amundi $260,674,335 1,916,864 0.55% Shares
NORGES BANK $256,830,034 1,888,595 0.55% Shares
VANGUARD FIDUCIARY TRUST CO $248,195,757 1,825,103 0.53% Shares
Point72 Asset Management, L.P. $245,248,174 1,803,428 0.52% Shares
Allianz Asset Management GmbH $222,913,720 1,639,192 0.47% Shares
Candlestick Capital Management LP $216,067,071 2,239,037 0.46% Shares
ASSETMARK, INC $211,613,273 1,556,094 0.45% Shares
LANSDOWNE PARTNERS (UK) LLP $210,672,852 1,549,179 0.45% Shares
UBS Group AG $206,755,387 1,520,372 0.44% Shares
AMERICAN CENTURY COMPANIES INC $197,445,860 1,451,914 0.42% Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A. $186,736,709 1,373,165 0.40% Shares
Holocene Advisors, LP $179,523,527 1,320,123 0.38% Shares
DEUTSCHE BANK AG\ $178,570,780 1,313,117 0.38% Shares
Bank of New York Mellon Corp $178,508,016 1,312,655 0.38% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $162,948,930 1,198,242 0.35% Shares

Show all 1,199 institutional owners →

Activists & 5%+ owners 10 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
United Airlines Holdings, Inc., United Airlines, Inc., CALFINCO Caymans Ltd. Feb. 27, 2026 8.70% Initial filing Passive investment SEC
PAR Investment Partners, L.P., PAR Group, L.P., PAR Capital Management, Inc. ×4 filings April 20, 2016 · Initial filing · SEC
ALTIMETER CAPITAL MANAGEMENT, LP, ALTIMETER PARTNERS FUND, L.P., BRAD GERSTNER, BARNABY HARFORD ×3 filings April 20, 2016 · Initial filing · SEC
Undisclosed reporting person Dec. 11, 2006 · Initial filing · SEC
Undisclosed reporting person July 25, 2006 · Initial filing · SEC
Undisclosed reporting person July 25, 2006 · Initial filing · SEC
Undisclosed reporting person Feb. 24, 2006 · Initial filing · SEC
Undisclosed reporting person Feb. 14, 2006 · Initial filing Passive investment SEC
Undisclosed reporting person July 12, 2001 · Initial filing · SEC
Undisclosed reporting person June 13, 2001 · Initial filing M&A / sale SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 71 insiders · 31 officers · 35 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Scott J Kirby Chief Executive Officer July 25, 2026 F 841,122 0 4 $-37,738,763
Jeffery A Smisek Chairman, President & CEO Feb. 28, 2015 F 408,730 0 0 $0
Gerald Laderman EVP and CFO July 24, 2023 S 133,213 0 0 $0
Andrew C Levy EVP & CFO Feb. 28, 2018 M 32,902 0 0 $0
John D Rainey EVP and CFO Feb. 28, 2015 F 64,934 0 0 $0
Zane Rowe Exec VP and CFO Feb. 25, 2012 F 51,943 0 0 $0
Kathryn A Mikells EVP - Chief Financial Officer Oct. 1, 2010 M 0 0 0 $0
Frederic F Brace Former EVP-CFO Oct. 31, 2008 A 123,255 0 0 $0
Brett J Hart President July 27, 2026 M 364,122 0 2 $-5,657,188
Jonathan Roitman EVP & COO June 14, 2022 S 13,938 0 0 $0
Peter D Mcdonald Exec VP and COO Feb. 25, 2014 F 36,406 0 0 $0
Andrew P Nocella EVP & Chief Commercial Officer Aug. 25, 2026 S 214,955 0 4 $-2,119,246
Kate Gebo EVP HR and Labor Relations July 28, 2026 G 69,018 0 2 $-4,216,933
Torbjorn J Enqvist EVP & Chief Operations Officer July 25, 2026 F 129,946 0 1 $-2,398,200
Brigitte Bokemeier Vice President & Controller March 4, 2026 A 9,041 0 0 $0
Linda P Jojo EVP & Chief Customer Officer Nov. 22, 2024 S 63,599 0 0 $0
Chris Kenny VP, Finance Feb. 29, 2024 A 18,479 0 0 $0
Gregory L Hart EVP & Chief Growth Officer June 15, 2023 S 26,434 0 0 $0
Oscar Munoz Executive Chairman Feb. 28, 2021 M 176,046 0 0 $0
Bonds Michael P EVP HR and Labor Relations May 9, 2017 S 8,716 0 0 $0
Julia Haywood EVP & Chief Commercial Officer Feb. 28, 2017 D 842 0 0 $0
James E Compton Vice Chair & Chief Rev Officer April 28, 2016 P 74,556 0 0 $0
Irene E Foxhall EVP Comm & Gov Affairs Feb. 28, 2015 F 41,683 0 0 $0
Jeffrey T. Foland EVP - Mktg & Strgy Dec. 11, 2014 S 45,856 0 0 $0
Robert S Edwards SVP and CIO Feb. 25, 2012 F 22,192 0 0 $0
Keith R. Halbert EVP -Chief Information Officer Feb. 25, 2011 A 19,256 0 0 $0
John P Tague EVP Oct. 1, 2010 M 0 0 0 $0
Thomas J Sabatino JR EVP, Gen Counsel and Corp Sec Oct. 1, 2010 M 0 0 0 $0
Paul R Lovejoy SVP, Gen Counsel & Secretary June 5, 2009 S 57,392 0 0 $0
Richard J Poulton SVP-Business Development May 9, 2006 D 0 0 0 $0
Douglas A Hacker Executive VP - Strategy June 2, 2004 S 0 0 0 $0
Matthew Friend Director Sept. 30, 2026 A · 0 0 $0
Laysha Ward Director Sept. 30, 2026 A · 0 0 $0
Rosalind G Brewer Director Sept. 30, 2026 A · 0 0 $0
Walter Isaacson Director Sept. 30, 2026 A 6,353 0 0 $0
Edward Shapiro Director Sept. 30, 2026 A 150,000 0 0 $0
James M Whitehurst Director May 22, 2026 M 18,892 0 0 $0
Michelle Freyre Director May 20, 2026 A 829 0 0 $0
Barney Harford Director May 20, 2026 A 80,000 0 0 $0
Michele J Hooper Director May 20, 2026 A 3,042 0 0 $0
Edward M Philip Director May 20, 2026 A 821 0 0 $0
James A C Kennedy Director Nov. 7, 2023 P 29,363 0 0 $0
Carolyn Corvi Director May 26, 2023 M 22,433 0 0 $0
David J Vitale Director May 27, 2021 A 22,882 0 0 $0
Jane C Garvey Director May 23, 2019 A 5,997 0 0 $0
William Nuti Director May 24, 2018 A 6,341 0 0 $0
L E Simmons Director March 30, 2018 A 13,021 0 0 $0
Robert A Milton Director Oct. 24, 2017 P 6,176 0 0 $0
Henry L Meyer III Director June 8, 2016 M 15,853 0 0 $0
Charles Yamarone Director June 8, 2016 M 12,152 0 0 $0
WALKER JOHN H Director June 8, 2016 M 8,638 0 0 $0
Glenn F Tilton Director June 12, 2013 M 89,689 0 0 $0
James W Farrell Director June 9, 2012 M 10,000 0 0 $0
OCONNOR JAMES J Director June 9, 2012 M 10,000 0 0 $0
Kirbyjon H Caldwell Director June 9, 2011 A 3,476 0 0 $0
Richard J Almeida Director June 10, 2010 A 10,419 0 0 $0
Robert D Krebs Director June 10, 2010 A 10,000 0 0 $0
Robert Steve Miller Director June 10, 2010 A 10,000 0 0 $0
Mary K Bush Director June 10, 2010 A 6,000 0 0 $0
OLEARY HAZEL R Director Feb. 9, 2004 S 0 0 0 $0
Douglas W Ford Director Dec. 11, 2003 S 0 0 0 $0
Paul E Tierney Director Dec. 9, 2003 S 0 0 0 $0
Paul R Whiteford JR Director Nov. 17, 2003 S 0 0 0 $0
Michael D. Leskinen · Aug. 3, 2026 S 47,436 0 1 $-1,281,900
Graham W Atkinson · Oct. 1, 2010 M 7,613 0 0 $0
Rosemary Moore · March 11, 2008 S 60,194 0 0 $0
Jane G Allen · March 1, 2008 A 38,534 0 0 $0
Sara A Fields · Feb. 1, 2008 F 60,029 0 0 $0
Gerald F Kelly JR · Oct. 1, 2007 D 2,481 0 0 $0
Janet Langford Kelly · Aug. 24, 2006 S 0 0 0 $0
United Airlines Holdings, Inc. · Nov. 11, 2004 S · 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 139 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IYT · iShares Trust 4.57% 866,199 SH Sept. 11, 2026 Daily
TPOR · Direxion Shares ETF Trust 2.22% 3,222 NS July 31, 2026 N-PORT
QQQJ · Invesco Exchange-Traded Fund Trust … 1.82% 191,819 SH Oct. 2, 2026 Daily
SPVM · Invesco Exchange-Traded Fund Trust 1.65% 19,390 SH Oct. 2, 2026 Daily
ALTL · Pacer Funds Trust 1.54% 11,664 NS July 31, 2026 N-PORT
GURU · Global X Funds 1.43% 7,210 NS July 31, 2026 N-PORT
SPGP · Invesco Exchange-Traded Fund Trust 1.38% 252,460 SH Oct. 2, 2026 Daily
FXD · First Trust Exchange-Traded AlphaDE… 1.33% 29,589 NS July 31, 2026 N-PORT
RSPN · Invesco Exchange-Traded Fund Trust 1.28% 84,427 SH Oct. 2, 2026 Daily
COWZ · Pacer Funds Trust 1.10% 1,697,115 NS July 31, 2026 N-PORT
HIBL · Direxion Shares ETF Trust 1.04% 6,411 NS July 31, 2026 N-PORT
SPHB · Invesco Exchange-Traded Fund Trust … 0.99% 85,557 SH Oct. 2, 2026 Daily
RPV · Invesco Exchange-Traded Fund Trust 0.89% 133,554 SH Oct. 2, 2026 Daily
VAMO · Cambria ETF Trust 0.87% 7,767 NS July 31, 2026 N-PORT
JOET · Virtus ETF Trust II 0.77% 15,514 NS July 31, 2026 N-PORT
VOE · VANGUARD INDEX FUNDS 0.76% 2,085,449 SH Aug. 19, 2026 Daily
BRNY · EA Series Trust 0.63% 30,169 NS July 31, 2026 N-PORT
FTA · First Trust Exchange-Traded AlphaDE… 0.61% 70,721 NS July 31, 2026 N-PORT
PALC · Pacer Funds Trust 0.60% 10,450 NS July 31, 2026 N-PORT
IYC · iShares Trust 0.60% 64,734 SH Sept. 11, 2026 Daily
VIS · VANGUARD WORLD FUND 0.59% 394,178 SH Aug. 19, 2026 Daily
DUSL · Direxion Shares ETF Trust 0.52% 2,398 NS July 31, 2026 N-PORT
FFLG · FIDELITY COVINGTON TRUST 0.51% 24,641 NS July 31, 2026 N-PORT
FVAL · FIDELITY COVINGTON TRUST 0.49% 53,303 NS July 31, 2026 N-PORT
IMCV · iShares Trust 0.48% 52,579 SH Sept. 11, 2026 Daily
FCPI · FIDELITY COVINGTON TRUST 0.48% 10,587 NS July 31, 2026 N-PORT
VO · VANGUARD INDEX FUNDS 0.43% 7,035,538 SH Aug. 19, 2026 Daily
DFLV · Dimensional ETF Trust 0.43% 239,089 NS July 31, 2026 N-PORT
FBCG · FIDELITY COVINGTON TRUST 0.43% 243,972 NS July 31, 2026 N-PORT
JPME · J.P. Morgan Exchange-Traded Fund Tr… 0.43% 16,297 NS July 31, 2026 N-PORT
GTOS · Invesco Actively Managed Exchange-T… 0.41% 505,000 Oct. 2, 2026 Daily
WLDR · Two Roads Shared Trust 0.41% 3,088 NS July 31, 2026 N-PORT
VFVA · VANGUARD WELLINGTON FUND 0.39% 24,191 SH Aug. 19, 2026 Daily
EXI · iShares Trust 0.35% 46,531 SH Sept. 11, 2026 Daily
LSVD · ADVISORS' INNER CIRCLE FUND 0.35% 18,518 NS July 31, 2026 N-PORT
RWL · Invesco Exchange-Traded Fund Trust … 0.34% 292,454 SH Oct. 2, 2026 Daily
QUVU · Hartford Funds Exchange-Traded Trust 0.32% 4,784 NS July 31, 2026 N-PORT
FEX · First Trust Exchange-Traded AlphaDE… 0.32% 41,447 NS July 31, 2026 N-PORT
IWS · iShares Trust 0.32% 454,621 SH Sept. 11, 2026 Daily
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.32% 21,684 NS July 31, 2026 N-PORT
JMOM · J.P. Morgan Exchange-Traded Fund Tr… 0.31% 64,272 NS July 31, 2026 N-PORT
FAB · First Trust Exchange-Traded AlphaDE… 0.31% 4,270 NS July 31, 2026 N-PORT
DFVX · Dimensional ETF Trust 0.26% 11,444 NS July 31, 2026 N-PORT
IWR · iShares Trust 0.25% 1,324,679 SH Sept. 11, 2026 Daily
VFMF · VANGUARD WELLINGTON FUND 0.25% 12,843 SH Aug. 19, 2026 Daily
IMCB · iShares Trust 0.24% 37,856 SH Sept. 11, 2026 Daily
DFUV · Dimensional ETF Trust 0.23% 289,748 NS July 31, 2026 N-PORT
SIZE · iShares Trust 0.23% 9,132 SH Sept. 11, 2026 Daily
PFIG · Invesco Exchange-Traded Fund Trust … 0.22% 280,000 Oct. 2, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.21% 1,822,005 SH Oct. 2, 2026 Daily
VLUE · iShares Trust 0.21% 191,648 SH Sept. 11, 2026 Daily
XOEF · iShares Trust 0.20% 409 SH Sept. 11, 2026 Daily
EUSA · iShares, Inc. 0.19% 33,700 SH Sept. 11, 2026 Daily
JPUS · J.P. Morgan Exchange-Traded Fund Tr… 0.18% 6,841 NS July 31, 2026 N-PORT
ACVF · ETF Opportunities Trust 0.18% 2,256 NS July 31, 2026 N-PORT
VTV · VANGUARD INDEX FUNDS 0.17% 3,085,182 SH Aug. 19, 2026 Daily
DXUV · Dimensional ETF Trust 0.17% 7,599 NS July 31, 2026 N-PORT
DUHP · Dimensional ETF Trust 0.16% 165,132 NS July 31, 2026 N-PORT
VOOV · VANGUARD ADMIRAL FUNDS 0.15% 74,749 SH Aug. 19, 2026 Daily
PWS · Pacer Funds Trust 0.14% 281 NS July 31, 2026 N-PORT
FIDU · FIDELITY COVINGTON TRUST 0.14% 26,526 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.14% 534,954 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.13% 36,542 NS July 31, 2026 N-PORT
VONV · VANGUARD SCOTTSDALE FUNDS 0.12% 183,600 SH Aug. 19, 2026 Daily
IVE · iShares Trust 0.12% 539,209 SH Sept. 11, 2026 Daily
IUSV · iShares Trust 0.11% 284,218 SH Sept. 11, 2026 Daily
ILCV · iShares Trust 0.10% 12,566 SH Sept. 11, 2026 Daily
EGLE · Global X Funds 0.09% 17 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.09% 91,528 NS July 31, 2026 N-PORT
IWD · iShares Trust 0.09% 675,583 SH Sept. 11, 2026 Daily
HELO · J.P. Morgan Exchange-Traded Fund Tr… 0.09% 32,929 NS July 31, 2026 N-PORT
LRGF · iShares Trust 0.09% 29,544 SH Sept. 11, 2026 Daily
ESG · FlexShares Trust 0.08% 900 NS July 31, 2026 N-PORT
CATH · Global X Funds 0.08% 8,354 NS July 31, 2026 N-PORT
VOO · VANGUARD INDEX FUNDS 0.07% 8,430,011 SH Aug. 19, 2026 Daily
VV · VANGUARD INDEX FUNDS 0.07% 379,159 SH Aug. 19, 2026 Daily
CHRI · Global X Funds 0.07% 45 NS July 31, 2026 N-PORT
EQAL · Invesco Exchange-Traded Fund Trust … 0.07% 4,685 SH Oct. 2, 2026 Daily
IUS · Invesco Exchange-Traded Self-Indexe… 0.07% 5,655 SH Oct. 2, 2026 Daily
TOPC · iShares Trust 0.06% 195 SH Sept. 11, 2026 Daily
XYLG · Global X Funds 0.06% 332 NS July 31, 2026 N-PORT
XYLD · Global X Funds 0.06% 16,736 NS July 31, 2026 N-PORT
BBUS · J.P. Morgan Exchange-Traded Fund Tr… 0.06% 44,609 NS July 31, 2026 N-PORT
PTLC · Pacer Funds Trust 0.06% 16,377 NS July 31, 2026 N-PORT
BKLC · BNY Mellon ETF Trust 0.06% 27,304 NS July 31, 2026 N-PORT
VOTE · TCW ETF Trust 0.06% 5,470 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.06% 10,307,381 SH Aug. 19, 2026 Daily
VONE · VANGUARD SCOTTSDALE FUNDS 0.06% 53,249 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.06% 27,221 SH Aug. 19, 2026 Daily
IWP · iShares Trust 0.06% 107,991 SH Sept. 11, 2026 Daily
TOV · EA Series Trust 0.06% 1,273 NS July 31, 2026 N-PORT
XVV · iShares Trust 0.06% 3,725 SH Sept. 10, 2026 Daily
XRMI · Global X Funds 0.06% 242 NS July 31, 2026 N-PORT
DFUS · Dimensional ETF Trust 0.06% 100,017 NS July 31, 2026 N-PORT
XTR · Global X Funds 0.06% 23 NS July 31, 2026 N-PORT
XCLR · Global X Funds 0.06% 17 NS July 31, 2026 N-PORT
IQSU · New York Life Investments ETF Trust 0.06% 1,543 NS July 31, 2026 N-PORT
VOXP · Advisors Series Trust 0.06% 27 NS July 31, 2026 N-PORT
SPUU · Direxion Shares ETF Trust 0.06% 1,224 NS July 31, 2026 N-PORT
PBP · Invesco Exchange-Traded Fund Trust 0.06% 1,932 SH Oct. 2, 2026 Daily
QVML · Invesco Exchange-Traded Fund Trust … 0.06% 8,325 SH Oct. 2, 2026 Daily
QDPL · Pacer Funds Trust 0.06% 7,814 NS July 31, 2026 N-PORT
IVV · iShares Trust 0.05% 4,091,297 SH Sept. 11, 2026 Daily
ILCB · iShares Trust 0.05% 6,333 SH Sept. 10, 2026 Daily
IWB · iShares Trust 0.05% 223,097 SH Sept. 11, 2026 Daily
HCMT · Direxion Shares ETF Trust 0.05% 2,258 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.05% 89,667 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.05% 420,691 SH Sept. 11, 2026 Daily
TILT · FlexShares Trust 0.05% 8,422 NS July 31, 2026 N-PORT
PHDG · Invesco Actively Managed Exchange-T… 0.05% 258 SH Oct. 2, 2026 Daily
SPXL · Direxion Shares ETF Trust 0.05% 25,375 NS July 31, 2026 N-PORT
USXF · iShares Trust 0.03% 4,831 SH Sept. 11, 2026 Daily
GTO · Invesco Actively Managed Exchange-T… 0.03% 1,048,670.54 Oct. 2, 2026 Daily
HDUS · Lattice Strategies Trust 0.03% 462 NS July 31, 2026 N-PORT
GLOF · iShares Trust 0.03% 484 SH Sept. 10, 2026 Daily
ESGV · VANGUARD WORLD FUND 0.02% 18,361 SH Aug. 19, 2026 Daily
GARP · iShares Trust 0.02% 4,864 SH Sept. 11, 2026 Daily
PRF · Invesco Exchange-Traded Fund Trust 0.01% 12,687 SH Oct. 1, 2026 Daily
PBUS · Invesco Exchange-Traded Fund Trust … 0.01% 14,093 SH Oct. 2, 2026 Daily
NEAR · iShares U.S. ETF Trust 0.01% 685,000 SH Sept. 11, 2026 Daily
IYY · iShares Trust 0.01% 3,454 SH Sept. 10, 2026 Daily
USCL · iShares Trust 0.01% 3,142 SH Sept. 11, 2026 Daily
OMFL · Invesco Exchange-Traded Self-Indexe… 0.01% 4,599 SH Oct. 2, 2026 Daily
TOK · iShares Trust 0.01% 225 SH Sept. 9, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.01% 66,194 SH Aug. 19, 2026 Daily
VONG · VANGUARD SCOTTSDALE FUNDS 0.01% 30,190 SH Aug. 19, 2026 Daily
URTH · iShares, Inc. 0.01% 7,461 SH Sept. 10, 2026 Daily
ACWI · iShares Trust 0.01% 26,651 SH Sept. 9, 2026 Daily
IWF · iShares Trust 0.01% 72,291 SH Sept. 11, 2026 Daily
BIV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BSV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BND · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
VPLS · VANGUARD MALVERN FUNDS · · July 15, 2026 Daily
VSDB · VANGUARD MALVERN FUNDS · · July 15, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VCIT · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VTC · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
BNDW · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
VCEB · VANGUARD WORLD FUND · · July 30, 2026 Daily

UAL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 30 analysts BUY
Median target $160.00 +42.2%
7 23.3% Strong Buy
19 63.3% Buy
4 13.3% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

23 analysts · 2026-09-29

Mean target $156.04 +38.7%

Now Current price $112.51
Low$95.00 Mean$156.04 High$203.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
UAL $36.17B 11.0 3.5% 5.7% 23.4% ·
DAL $45.80B 9.1 2.8% 7.9% 26.1% ·
LUV · 52.3 2.1% · · ·
AAL $10.12B 90.2 0.78% 0.20% -2.9% ·
JOBY $12.08B -11.7 39183.1% -1740.5% -80.6% ·
ALK $5.81B 60.6 21.3% 0.70% 2.5% ·
SKYW $8.46B 9.7 15.0% 10.5% 16.1% ·
ALGT · -34.4 3.7% · · ·
JBLU $1.68B -2.7 -2.3% -6.6% -26.6% ·
ULCC $1.08B -7.8 -1.4% -3.7% -27.5% ·

Latest News Recent headlines mentioning this company

23

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

25

No open signal right now — no card is filled, and that's honest.

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Jul 16, 2026