Skip to Content
Morningstar

United Airlines Holdings Inc UAL

Morningstar Rating
Unlock
Stock XNAS Rating as of
$53.94 +2.56 (4.98%)
View Full Chart
As of Delayed Price Closed
Unlock our analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

United Airlines Earnings: Strong Revenue Offset by Ongoing Investments; Fair Value Estimate Lowered

Nicolas Owens

United Airlines reported first-quarter 2024 revenue and profit that somewhat exceeded our forecast even though the company also attributed a $200 million deficit in the quarter to the temporary grounding of its Boeing 737 MAX 9 fleet. With a $124 million adjusted operating loss in the quarter, the implication that the no-moat airline would have booked about $80 million in profit on $11.3 billion in revenue were it not for the Boeing grounding did not leave us impressed. United has also had to reshuffle its airplane order book to reflect delayed deliveries by Boeing, and as a result of the spaced-out and generally higher capital spending forecast from the company, we have lowered our fair value estimate to $35 from $38 per share.

Read Full Report

Price vs Fair Value

View History
UAL is trading at a 54% premium.
Price
$53.94
Fair Value
$68.00
Uncertainty
High
1-Star Price
$64.51
5-Star Price
$62.00
Economic Moat
Wxw
Capital Allocation
Kjnrcrqkn

Bulls Say, Bears Say

Bulls

The United Next strategy will boost capacity and drive stronger profitability with more efficient planes.

Bears

United's debt burden and fleet investment plans mean shareholders won't likely see buybacks for a while.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if UAL is a good fit for your portfolio.
Get 7 Days Free

News

View All

Trading Information

Previous Close Price
$51.38
Day Range
$51.53–54.15
52-Week Range
$33.68–58.23
Bid/Ask
$53.94 / $54.00
Market Cap
$17.74 Bil
Volume/Avg
16.4 Mil / 10.4 Mil

Key Statistics

Price/Earnings (Normalized)
5.12
Price/Sales
0.33
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

United Airlines is a major U.S. network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel than its large U.S. peers.
Sector
Industrials
Industry
Airlines
Stock Style Box
Mid Core
Total Number of Employees
104,500
Website
https://www.united.com

Competitors

Valuation

View More
Metric
UAL
DAL
AAL
Price/Earnings (Normalized)
 5.127.615.50
Price/Book Value
 1.932.84—
Price/Sales
 0.330.540.20
Price/Cash Flow
 2.714.762.93
Price/Earnings
UAL
DAL
AAL

Financial Strength

Metric
UAL
DAL
AAL
Quick Ratio
 0.730.290.44
Current Ratio
 0.830.410.62
Interest Coverage
 2.448.691.25
Quick Ratio
UAL
DAL
AAL

Profitability

Metric
UAL
DAL
AAL
Return on Assets (Normalized)
 4.69%5.85%2.75%
Return on Equity (Normalized)
 42.22%47.04%—
Return on Invested Capital (Normalized)
 9.35%13.54%7.97%
Return on Assets
UAL
DAL
AAL
See how this stock stacks up to its competitors with Morningstar Investor
Start Free Trial

Airlines Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
DAL
Delta Air Lines IncYfcvrmyjJnpq$30.9 Bil
RYAAY
Ryanair Holdings PLC ADR—Xjmbjqy$25.0 Bil
RYAOF
Ryanair Holdings PLC—Sbbsg$24.8 Bil
LUV
Southwest Airlines CoVnnqtmkrPlzgc$17.4 Bil
AICAF
Air China Ltd Class H—Cjqgl$14.2 Bil
AIRYY
Air China Ltd ADR—Npv$14.0 Bil
SINGF
Singapore Airlines Ltd—Gghsf$14.0 Bil
SINGY
Singapore Airlines Ltd ADR—Scx$14.0 Bil
AAL
American Airlines Group IncJbbkxhmqDbn$9.5 Bil

Sponsor Center