United Airlines Holdings, Inc. (UAL) — Financial statements
Income statement, balance sheet, and cash flow for United Airlines Holdings, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 59,070↑3.5% | 57,063↑6.2% | 53,717↑19.5% | 44,955↑82.5% | 24,634 | |
| Cost of Revenue | 21,192↓43.7% | 37,643↓2.3% | 38,518↑12.2% | 34,315↑43.5% | 23,913 | |
| Gross Profit | 37,878↑95.0% | 19,420↑27.8% | 15,199↑42.8% | 10,640↑1375.7% | 721 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 2,109↓5.5% | 2,231↑12.8% | 1,977↑28.8% | 1,535↑126.7% | 677 | |
| SG&A Expenses | 2,109↓5.5% | 2,231↑12.8% | 1,977↑28.8% | 1,535↑126.7% | 677 | |
| Other Expenses | 31,056↑156.8% | 12,093↑34.2% | 9,011↑33.1% | 6,768↑534.9% | 1,066 | |
| Operating Expenses | 33,165↑131.5% | 14,324↑30.4% | 10,988↑32.3% | 8,303↑376.4% | 1,743 | |
| Total Costs & Expenses | 54,357↑4.6% | 51,967↑5.0% | 49,506↑16.2% | 42,618↑66.1% | 25,656 | |
| Operating Results | ||||||
| Operating Income | 4,713↓7.5% | 5,096↑21.0% | 4,211↑80.2% | 2,337↑328.7% | -1,022 | |
| Depreciation & Amortization | 2,938↑0.3% | 2,928↑9.6% | 2,671↑8.8% | 2,456↓1.2% | 2,485 | |
| EBITDA | 7,537↓11.3% | 8,498↑8.5% | 7,832↑53.0% | 5,119↑240.1% | 1,505 | |
| EBIT | 4,599↓17.4% | 5,570↑7.9% | 5,161↑93.8% | 2,663↑371.7% | -980 | |
| Interest & Other Income | ||||||
| Net Interest Income | -610↑9.8% | -676↑28.6% | -947↑31.1% | -1,375↑10.8% | -1,541 | |
| Interest Income | 610↓16.0% | 726↓12.2% | 827↑177.5% | 298↑727.8% | 36 | |
| Interest Expense | 1,220↓13.0% | 1,402↓21.0% | 1,774↑6.0% | 1,673↑6.1% | 1,577 | |
| Non-Operating Income | 114↑124.1% | -474↑50.1% | -950↓191.4% | -326↓676.2% | -42 | |
| Other Income / Expenses | -407↑56.1% | -928↓12.6% | -824↑38.8% | -1,347↑12.2% | -1,535 | |
| Income Before Tax | 4,306↑3.3% | 4,168↑23.1% | 3,387↑242.1% | 990↑138.7% | -2,557 | |
| Income Tax Expense | 953↓6.5% | 1,019↑32.5% | 769↑204.0% | 253↑142.7% | -593 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 3,353↑6.5% | 3,149↑20.3% | 2,618↑255.2% | 737↑137.5% | -1,964 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 3,353↑6.5% | 3,149↑20.3% | 2,618↑255.2% | 737↑137.5% | -1,964 | |
| Bottom-Line Net Income | 3,353↑6.5% | 3,149↑20.3% | 2,618↑255.2% | 737↑137.5% | -1,964 | |
| EPS (Basic) | 10.21↑6.6% | 9.58↑19.9% | 7.99↑253.5% | 2.26↑137.0% | -6.10 | |
| EPS (Diluted) | 10.22↑8.1% | 9.45↑19.8% | 7.89↑253.8% | 2.23↑136.6% | -6.10 | |
| Weighted Average Shares | 327↓1.9% | 333↑0.4% | 332↑0.5% | 330↑2.5% | 322 | |
| Weighted Average Diluted Shares | 327↓1.9% | 333↑0.4% | 332↑0.5% | 330↑2.5% | 322 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.