| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 92 | 10.3x | 17.8x | Top tier | |
Growth | 62 | 8.5% | 7.1% | Around median | |
Quality | 75 | 8.1% | 4.5% | Top tier | |
Safety | 49 | 2.2x | 2.6x | Around median | |
Capital Return | 19 | — | 2.12% | Bottom tier | |
Momentum | 56 | 24.3% | 2.9% | Around median | |
Sentiment | 53 | 14 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
United Airlines Holdings operates a global airline network that generates revenue primarily from passenger transportation within the United States and across international markets, with additional sources from premium cabins, cargo, the MileagePlus loyalty program, and co-branded credit cards. In fiscal Q2 2026, domestic passenger revenue increased 20.3%, while international PRASM grew 12%, led by the Pacific at 14%, followed by the Atlantic at 12.1% and Latin America at 10.7%. Premium cabin revenue also increased 16.4%, cargo revenue 22.6%, and loyalty revenue 11.3%, demonstrating that growth did not depend on a single market or product within the operating business.
Fiscal Q2 2026 revenue reached approximately $17.7 billion, up nearly 16% year over year, and the financial statements filed with EDGAR reported net income of $805 million and diluted earnings per share of $2.46, implying a calculated net margin of approximately 4.5%. On the adjusted basis used by management during the call, earnings per share were $1.99 and the pre-tax margin was 4.8%, despite a $2.3 billion year-over-year negative fuel impact. By comparison, the company generated fiscal 2025 revenue of $59.1 billion, net income of $3.4 billion, and earnings per share of $10.20.
Analyst consensus rates UAL shares as “Buy,” with an average price target of $160.89 and a wide range of $130 to $190. The average is approximately 15.9% above the 52-week range high of $138.77, while the lowest target falls within the 52-week range of $84.64 to $138.77, reflecting meaningful divergence in estimates of the effects of fuel, margins, and execution. The available data does not provide a valid comparable price-to-earnings multiple, so the stock's valuation here is based on analyst targets and expected fiscal 2026 earnings per share of between $9 and $11, balancing revenue strength against fuel and cost risks.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue reached $17.7 billion, up nearly 16% year over year. EDGAR filings reported net income of $805 million and earnings per share of $2.46, while adjusted earnings per share in the July 16, 2026 call were approximately $1.99, with a pre-tax margin of 4.8%. TRASM increased 12.1%, with a slight improvement in load factor, despite a $2.3 billion year-over-year fuel impact.
Management expects earnings per share of between $9 and $11 in fiscal 2026 and between $2.50 and $3.50 in fiscal Q3 2026. The Q3 outlook assumes an all-in fuel price of approximately $3.69 after fuel prices increased 15% to 20% in early July 2026. Management said that a return of fuel prices to their previous levels would have pushed earnings above the upper end of both ranges.
Loyalty revenue increased 11.3% in fiscal Q2 2026, with new co-branded card accounts growing 22% and card spending rising 14%. MileagePlus enrollments increased 9%, five points faster than capacity growth. During the same period, premium cabin revenue increased 16.4%, while PRASM in Polaris and Premium Plus grew 13.6%.
Automated analysis for informational purposes only — not investment advice.
United had installed Starlink on approximately 450 aircraft as of the July 16, 2026 call and is targeting nearly 1,000 equipped aircraft by the end of 2026. Wi-Fi satisfaction scores on aircraft equipped with the service were more than double those of aircraft using other connectivity systems. Management believes free high-speed connectivity can support market-share gains, particularly among premium-cabin customers, as part of its brand-loyalty strategy.
On August 25, 2026, the company announced the addition of ten new cities to its 2027 global schedule in the largest international expansion in its history. It plans to grow internationally faster than domestically after PRASM increased 14% in the Pacific, 12.1% in the Atlantic, and 10.7% in Latin America in fiscal Q2 2026. Premium capacity will also grow faster than main-cabin capacity through the deployment of XLR and Coastliner, alongside the retirement of at least 80 older aircraft during 2027.
The most significant financial risk is fuel, as management said its annual cost had become approximately $6 billion higher than anticipated at the beginning of fiscal 2026. CASM-ex increased 6.1% in fiscal Q2 2026 due to labor agreements and capacity reductions, with cost pressure expected to peak in Q3. FAA caps in Chicago and Newark and landing constraints in San Francisco also limit operational flexibility, while the company added $3.7 billion of new debt to strengthen liquidity during oil-price volatility.
