NASDAQ · UAL

United Airlines Holdings, Inc.

Industrials · Airlines, Airports & Air Services

$108.71▲ 0.99% ($1.07)at close

After hours$109.08▲ 0.34%7:48 PM ET

52-week

$84.64$138.77

Market cap

$35.28B

P/E

10.15

EPS (TTM)

$10.71

Next earnings

Oct 21, 2026

What the market price implies · Reverse DCF

To support a price of $108.71, this model requires revenue to grow by 8.45%/yr over the next 10 years, compounded annually.

Historical revenue grew by 24.44%/yr over the past 4 years. The required annual growth rate is 15.99 percentage points lower.

Selected forecast · Base scenario

9.92%/yr · actual 10-year annualized revenue growth

Year 1 growth: 15.55%

Market-implied · Base operating assumptions + edited margins

8.45%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$108.71

Estimated value / share

$135.05

Base scenario

This estimate is 24.23% above the price used.

USD · TTM ending 2026-06-30

Year 1 growth 15.55% · Ending margin 7.75% · Discount rate 8.46%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 18, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 20, 2026, 3:21 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Only 2 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 3.16%Revenue (TTM): 8.48%FCF (TTM): -37.09%P/FCF: 75th pct

What changed

The stock rose 3.16% over the last year. Revenue grew 8.48% over the trailing twelve months. Operating margin moved from 8.62% to 7.75%. Free cash flow declined 37.09% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 7.75%. A decisive move in revenue — currently up 8.48% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

United Airlines Holdings, Inc., through its various subsidiaries, delivers air travel solutions on a global scale.

CEOJ. Scott Kirby

SectorIndustrials

IndustryAirlines, Airports & Air Services

Employees117,500

IPO dateFeb 6, 2006

https://www.united.com

Market multiples

Forward P/E—

EV/EBITDA8.18

Enterprise value$61.66B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth15.99%

Gross margin (FY2025)64.12%▲30.1ppvs FY2024

Operating margin (FY2025)7.98%▼1.0ppvs FY2024

ROE23.26%▼0.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$156.70▲44.14%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 21, 2026

Q4 FY26 · EPS est $2.86 · Revenue est $17.82B

View

NASDAQ · UAL

United Airlines Holdings, Inc.

Industrials · Airlines, Airports & Air Services

$108.71▲ 0.99% ($1.07)at close

After hours$109.08▲ 0.34%7:48 PM ET

52-week

$84.64$138.77

Market cap

$35.28B

P/E

10.15

EPS (TTM)

$10.71

Next earnings

Oct 21, 2026

What the market price implies · Reverse DCF

To support a price of $108.71, this model requires revenue to grow by 8.45%/yr over the next 10 years, compounded annually.

Historical revenue grew by 24.44%/yr over the past 4 years. The required annual growth rate is 15.99 percentage points lower.

Selected forecast · Base scenario

9.92%/yr · actual 10-year annualized revenue growth

Year 1 growth: 15.55%

Market-implied · Base operating assumptions + edited margins

8.45%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$108.71

Estimated value / share

$135.05

Base scenario

This estimate is 24.23% above the price used.

USD · TTM ending 2026-06-30

Year 1 growth 15.55% · Ending margin 7.75% · Discount rate 8.46%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 18, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 20, 2026, 3:21 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Only 2 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 3.16%Revenue (TTM): 8.48%FCF (TTM): -37.09%P/FCF: 75th pct

What changed

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 7.75%. A decisive move in revenue — currently up 8.48% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

United Airlines Holdings, Inc., through its various subsidiaries, delivers air travel solutions on a global scale.

CEOJ. Scott Kirby

SectorIndustrials

IndustryAirlines, Airports & Air Services

Employees117,500

IPO dateFeb 6, 2006

https://www.united.com

Market multiples

Forward P/E—

EV/EBITDA8.18

Enterprise value$61.66B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth15.99%

Gross margin (FY2025)64.12%▲30.1ppvs FY2024

Operating margin (FY2025)7.98%▼1.0ppvs FY2024

ROE23.26%▼0.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$156.70▲44.14%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 21, 2026

Q4 FY26 · EPS est $2.86 · Revenue est $17.82B

View