UNITED AIRLINES HOLDINGS INC (UAL1.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:UAL1 • US9100471096

89.39 EUR
+3.9 (+4.56%)
Last: Feb 2, 2026, 07:00 PM
Fundamental Rating

4

Overall UAL1 gets a fundamental rating of 4 out of 10. We evaluated UAL1 against 14 industry peers in the Passenger Airlines industry. UAL1 has a medium profitability rating, but doesn't score so well on its financial health evaluation. UAL1 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year UAL1 was profitable.
  • UAL1 had a positive operating cash flow in the past year.
  • UAL1 had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years UAL1 had a positive operating cash flow.
UAL1.DE Yearly Net Income VS EBIT VS OCF VS FCFUAL1.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B

1.2 Ratios

  • UAL1 has a Return On Assets of 4.39%. This is in the better half of the industry: UAL1 outperforms 64.29% of its industry peers.
  • UAL1's Return On Equity of 21.94% is in line compared to the rest of the industry. UAL1 outperforms 50.00% of its industry peers.
  • UAL1's Return On Invested Capital of 7.58% is in line compared to the rest of the industry. UAL1 outperforms 50.00% of its industry peers.
  • UAL1 had an Average Return On Invested Capital over the past 3 years of 7.85%. This is in line with the industry average of 9.28%.
Industry RankSector Rank
ROA 4.39%
ROE 21.94%
ROIC 7.58%
ROA(3y)4.11%
ROA(5y)2.11%
ROE(3y)24.95%
ROE(5y)9.3%
ROIC(3y)7.85%
ROIC(5y)N/A
UAL1.DE Yearly ROA, ROE, ROICUAL1.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50 -100

1.3 Margins

  • UAL1 has a Profit Margin of 5.68%. This is in the better half of the industry: UAL1 outperforms 64.29% of its industry peers.
  • UAL1's Profit Margin has improved in the last couple of years.
  • UAL1's Operating Margin of 8.42% is fine compared to the rest of the industry. UAL1 outperforms 64.29% of its industry peers.
  • In the last couple of years the Operating Margin of UAL1 has grown nicely.
  • With a decent Gross Margin value of 63.63%, UAL1 is doing good in the industry, outperforming 78.57% of the companies in the same industry.
  • UAL1's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.42%
PM (TTM) 5.68%
GM 63.63%
OM growth 3Y15.17%
OM growth 5YN/A
PM growth 3Y51.28%
PM growth 5YN/A
GM growth 3Y5.21%
GM growth 5Y6.96%
UAL1.DE Yearly Profit, Operating, Gross MarginsUAL1.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 60

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2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), UAL1 is destroying value.
  • Compared to 1 year ago, UAL1 has less shares outstanding
  • UAL1 has more shares outstanding than it did 5 years ago.
  • UAL1 has a better debt/assets ratio than last year.
UAL1.DE Yearly Shares OutstandingUAL1.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
UAL1.DE Yearly Total Debt VS Total AssetsUAL1.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • The Debt to FCF ratio of UAL1 is 9.77, which is on the high side as it means it would take UAL1, 9.77 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of UAL1 (9.77) is comparable to the rest of the industry.
  • UAL1 has a Debt/Equity ratio of 1.35. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.35, UAL1 is in line with its industry, outperforming 42.86% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.35
Debt/FCF 9.77
Altman-Z N/A
ROIC/WACC0.84
WACC8.97%
UAL1.DE Yearly LT Debt VS Equity VS FCFUAL1.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B

2.3 Liquidity

  • A Current Ratio of 0.65 indicates that UAL1 may have some problems paying its short term obligations.
  • UAL1's Current ratio of 0.65 is on the low side compared to the rest of the industry. UAL1 is outperformed by 71.43% of its industry peers.
  • UAL1 has a Quick Ratio of 0.65. This is a bad value and indicates that UAL1 is not financially healthy enough and could expect problems in meeting its short term obligations.
  • UAL1 has a Quick ratio of 0.59. This is in the lower half of the industry: UAL1 underperforms 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 0.65
Quick Ratio 0.59
UAL1.DE Yearly Current Assets VS Current LiabilitesUAL1.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

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5

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 0.76% over the past year.
  • UAL1 shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 63.03% yearly.
  • The Revenue has been growing slightly by 3.52% in the past year.
  • Measured over the past years, UAL1 shows a very strong growth in Revenue. The Revenue has been growing by 30.93% on average per year.
EPS 1Y (TTM)0.76%
EPS 3Y63.03%
EPS 5YN/A
EPS Q2Q%-4.91%
Revenue 1Y (TTM)3.52%
Revenue growth 3Y9.53%
Revenue growth 5Y30.93%
Sales Q2Q%4.78%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.88% on average over the next years.
  • UAL1 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.00% yearly.
EPS Next Y24.71%
EPS Next 2Y18.65%
EPS Next 3Y8.79%
EPS Next 5Y7.88%
Revenue Next Year8.02%
Revenue Next 2Y7.29%
Revenue Next 3Y6.46%
Revenue Next 5Y4%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
UAL1.DE Yearly Revenue VS EstimatesUAL1.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B
UAL1.DE Yearly EPS VS EstimatesUAL1.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 10 -10 -20

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5

4. Valuation

4.1 Price/Earnings Ratio

  • UAL1 is valuated reasonably with a Price/Earnings ratio of 9.93.
  • Compared to the rest of the industry, the Price/Earnings ratio of UAL1 is on the same level as its industry peers.
  • UAL1's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.18.
  • Based on the Price/Forward Earnings ratio of 7.96, the valuation of UAL1 can be described as very cheap.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of UAL1 is on the same level as its industry peers.
  • UAL1 is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.51, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.93
Fwd PE 7.96
UAL1.DE Price Earnings VS Forward Price EarningsUAL1.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, UAL1 is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 13.4
EV/EBITDA N/A
UAL1.DE Per share dataUAL1.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of UAL1 may justify a higher PE ratio.
PEG (NY)0.4
PEG (5Y)N/A
EPS Next 2Y18.65%
EPS Next 3Y8.79%

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0

5. Dividend

5.1 Amount

  • No dividends for UAL1!.
Industry RankSector Rank
Dividend Yield 0%

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UNITED AIRLINES HOLDINGS INC

FRA:UAL1 (2/2/2026, 7:00:00 PM)

89.39

+3.9 (+4.56%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)01-20
Earnings (Next)04-13
Inst Owners91.1%
Inst Owner ChangeN/A
Ins Owners0.52%
Ins Owner ChangeN/A
Market Cap28.94B
Revenue(TTM)59.07B
Net Income(TTM)3.35B
Analysts82
Price Target116.07 (29.85%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.56%
Min EPS beat(2)4.52%
Max EPS beat(2)4.61%
EPS beat(4)4
Avg EPS beat(4)7.16%
Min EPS beat(4)0.48%
Max EPS beat(4)19.01%
EPS beat(8)8
Avg EPS beat(8)14.83%
EPS beat(12)12
Avg EPS beat(12)15.2%
EPS beat(16)15
Avg EPS beat(16)12.1%
Revenue beat(2)0
Avg Revenue beat(2)-1.33%
Min Revenue beat(2)-1.67%
Max Revenue beat(2)-0.98%
Revenue beat(4)0
Avg Revenue beat(4)-1.43%
Min Revenue beat(4)-1.76%
Max Revenue beat(4)-0.98%
Revenue beat(8)1
Avg Revenue beat(8)-0.94%
Revenue beat(12)2
Avg Revenue beat(12)-0.72%
Revenue beat(16)4
Avg Revenue beat(16)-0.76%
PT rev (1m)7.02%
PT rev (3m)20.2%
EPS NQ rev (1m)22.45%
EPS NQ rev (3m)10.31%
EPS NY rev (1m)1.85%
EPS NY rev (3m)1.66%
Revenue NQ rev (1m)0.25%
Revenue NQ rev (3m)-0.71%
Revenue NY rev (1m)0.23%
Revenue NY rev (3m)0.08%
Valuation
Industry RankSector Rank
PE 9.93
Fwd PE 7.96
P/S 0.58
P/FCF 13.4
P/OCF 4.06
P/B 2.24
P/tB 4.23
EV/EBITDA N/A
EPS(TTM)9
EY10.07%
EPS(NY)11.23
Fwd EY12.56%
FCF(TTM)6.67
FCFY7.46%
OCF(TTM)22
OCFY24.61%
SpS154.11
BVpS39.87
TBVpS21.13
PEG (NY)0.4
PEG (5Y)N/A
Graham Number89.85
Profitability
Industry RankSector Rank
ROA 4.39%
ROE 21.94%
ROCE 9.88%
ROIC 7.58%
ROICexc 10.02%
ROICexgc 12.34%
OM 8.42%
PM (TTM) 5.68%
GM 63.63%
FCFM 4.33%
ROA(3y)4.11%
ROA(5y)2.11%
ROE(3y)24.95%
ROE(5y)9.3%
ROIC(3y)7.85%
ROIC(5y)N/A
ROICexc(3y)10.83%
ROICexc(5y)N/A
ROICexgc(3y)13.53%
ROICexgc(5y)N/A
ROCE(3y)10.23%
ROCE(5y)N/A
ROICexgc growth 3Y15.42%
ROICexgc growth 5YN/A
ROICexc growth 3Y17.73%
ROICexc growth 5YN/A
OM growth 3Y15.17%
OM growth 5YN/A
PM growth 3Y51.28%
PM growth 5YN/A
GM growth 3Y5.21%
GM growth 5Y6.96%
F-Score8
Asset Turnover0.77
Health
Industry RankSector Rank
Debt/Equity 1.35
Debt/FCF 9.77
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 9.94%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 76.26%
Current Ratio 0.65
Quick Ratio 0.59
Altman-Z N/A
F-Score8
WACC8.97%
ROIC/WACC0.84
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)11.04%
Cap/Sales(5y)10.48%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0.76%
EPS 3Y63.03%
EPS 5YN/A
EPS Q2Q%-4.91%
EPS Next Y24.71%
EPS Next 2Y18.65%
EPS Next 3Y8.79%
EPS Next 5Y7.88%
Revenue 1Y (TTM)3.52%
Revenue growth 3Y9.53%
Revenue growth 5Y30.93%
Sales Q2Q%4.78%
Revenue Next Year8.02%
Revenue Next 2Y7.29%
Revenue Next 3Y6.46%
Revenue Next 5Y4%
EBIT growth 1Y-4.55%
EBIT growth 3Y26.14%
EBIT growth 5YN/A
EBIT Next Year85.53%
EBIT Next 3Y30.12%
EBIT Next 5Y23.78%
FCF growth 1Y-33.24%
FCF growth 3Y27.04%
FCF growth 5YN/A
OCF growth 1Y-10.74%
OCF growth 3Y11.6%
OCF growth 5YN/A

UNITED AIRLINES HOLDINGS INC / UAL1.DE FAQ

What is the fundamental rating for UAL1 stock?

ChartMill assigns a fundamental rating of 4 / 10 to UAL1.DE.


What is the valuation status of UNITED AIRLINES HOLDINGS INC (UAL1.DE) stock?

ChartMill assigns a valuation rating of 5 / 10 to UNITED AIRLINES HOLDINGS INC (UAL1.DE). This can be considered as Fairly Valued.


What is the profitability of UAL1 stock?

UNITED AIRLINES HOLDINGS INC (UAL1.DE) has a profitability rating of 6 / 10.


How financially healthy is UNITED AIRLINES HOLDINGS INC?

The financial health rating of UNITED AIRLINES HOLDINGS INC (UAL1.DE) is 2 / 10.


Can you provide the expected EPS growth for UAL1 stock?

The Earnings per Share (EPS) of UNITED AIRLINES HOLDINGS INC (UAL1.DE) is expected to grow by 24.71% in the next year.