UAL

United Airlines HoldingsNASDAQ · Passenger Airlines · Industrials

Previous close

104.24

Change

−0.97 / −0.92%

FinDog View

Neutral

52-Week Range ?

84.64 – 138.77

P/E (TTM) ?

9.6

Forward P/E ?

8.6

Based on consensus earnings for the next 12 months

Market Cap

$33.1B

−6.05%

S&P 500 −0.91% over same period

Volume / Avg Volume

5.0M / 5.7M

0.87× average

Latest earnings analysisFY2026 Q3Reported 2026-10-20

United Q3 2026: record $17.9 billion revenue, up 17.4%, but adjusted EPS misses

United's quarter was a demand story, not a profit story. Revenue jumped 17.4% to a record $17.875 billion, yet adjusted EPS of $2.54 came in below the $2.6127 consensus and fell 8.6% year over year. The gap between GAAP EPS of $3.14 and adjusted $2.54 is $213 million of aircraft sale gains, and the villain is a 61.6% fuel jump.

Read the full analysis →

Revenue$17.88BYoY +17.40%

EPS (non-GAAP)$2.54Missest. $2.61

Next-day move+3.99%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 8.91M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q3 Quarter ended 2026-09	2026-10-20	$17.9B	2.54 / 2.61	+3.99%	Read analysis →
FY2026 Q2 Quarter ended 2026-06	2026-07-15	$17.7B	1.99 / 1.89	−1.79%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-04-21	$14.6B	1.19 / 1.08	−5.58%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-01-20	$59.1B	3.10 / 2.97	+2.20%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-10-15	$15.2B	2.78 / 2.66	−5.63%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-07-09	$15.2B	3.87 / —	+14.33%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-04-16	$13.2B	1.16 / —	−1.03%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2027-01-18

in 78 days · After hours

Consensus EPS

$3.32

Last quarter EPS $2.54

Avg. next-day move over the last 7 reports

±4.9%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 59 of its 5-year rangeMid-range

5-year range 4.8 – 12.0 · Median 8.9

Last 4 quarters: $54.0M in buybacks + $0 in dividends, 0.16% of market cap combined

P/E (TTM)

9.6

P/B

1.9

P/S

0.5

PEG

0.48

Earnings Reaction

Over the last 7 reports, the stock moved ±4.9% on average on the first trading day after, rising 3 times

Most recent +3.99%

Volatility & Correlation

1-year beta 2.21 · Correlation with S&P 500 0.59High beta

Annualized volatility 48% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 3 · $2.3MNet selling $2.3M

08-25Nocella Andrew PEVP & Chief Commercial OfficerSell$0.59M5,000 shares · Avg price 117.00
08-04Nocella Andrew PEVP & Chief Commercial OfficerSell$0.40M3,000 shares · Avg price 132.30
08-03Leskinen Michael D.EVP & Chief Financial OfficerSell$1.3M10,000 shares · Avg price 128.19

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q3	17.88	+17.4%	—	1.45	1.03	0.47	3.14
FY2026 Q2	17.67	+16.0%	—	1.10	0.81	1.61	2.46
FY2026 Q1	14.61	+10.6%	—	1.00	0.70	4.80	2.14
FY2025 Q4	15.40	+4.8%	—	1.39	1.04	1.29	3.17
FY2025 Q3	15.23	+2.6%	—	1.40	0.95	1.22	2.90
FY2025 Q2	15.24	+1.7%	—	1.33	0.97	2.22	2.97
FY2025 Q1	13.21	+5.4%	—	0.61	0.39	3.71	1.16
FY2024 Q4	14.70	+7.8%	—	1.50	0.99	2.22	2.97
FY2024 Q3	14.84	+2.5%	—	1.57	0.97	1.50	2.90
FY2024 Q2	14.99	+5.7%	—	1.93	1.32	2.88	3.96
FY2024 Q1	12.54	+9.7%	—	0.10	-0.12	2.85	-0.38
FY2023 Q4	13.63	+9.9%	—	1.00	0.60	-0.91	1.82

Peers

Largest by market cap in the sector · Latest quarterView Industrials sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
UAL	United Airlines Holdings	$33.1B	9.6	+17.4%	—	−6.05%	Neutral
SPCX	SpaceX	$1.85T	—	+161.4%	62.4%	−10.70%	Bullish	Compare
CAT	Caterpillar Inc.	$288B	26.8	+24.0%	37.8%	−23.19%	Bullish	Compare
GE	GE Aerospace	$313B	35.1	+15.9%	—	−3.36%	Bullish	Compare
RTX	RTX Corporation	$271B	32.0	+11.1%	—	+7.62%	Bullish	Compare
GEV	GE Vernova	$227B	22.8	+26.8%	24.6%	−9.74%	Bullish	Compare
UNP	Union Pacific Corporation	$181B	23.6	+15.3%	—	+11.71%	Bullish	Compare
DE	Deere & Company	$182B	36.7	+4.9%	—	+0.59%	Bullish	Compare
ETN	Eaton Corporation	$144B	38.6	+21.4%	33.5%	−13.90%	Bullish	Compare

The View in One Line

Q3 revenue $17.88B up 17.4% to a record, but EPS $2.54 missed $2.6127 and fell 8.6% on fuel costs; free cash flow turned negative. Neutral.

Updated 2026-10-30

View History

09-16Bearish → Neutral
FY2026 Q2 revenue $17.67 billion, EPS 2.46 beat expectations and guidance was raised, but net income declined, fuel costs weigh, risk-reward balanced.

ETFs holding it

XLI Industrial Select Sector SPDR Fund0.64%
RSP Invesco S&P 500 Equal Weight ETF0.19%
VTV Vanguard Value ETF0.12%
SPY SPDR S&P 500 ETF Trust0.05%
VOO Vanguard S&P 500 ETF0.05%
IVV iShares Core S&P 500 ETF0.05%
VTI Vanguard Total Stock Market ETF0.05%

Weights estimated at latest prices

Key Events

05-22Governance
United Airlines Annual Shareholder Meeting Elects Directors and Ratifies Auditor
On May 19, 2026, United Airlines' shareholder meeting elected 11 directors, ratified Ernst & Young as auditor for fiscal 2026, and passed an advisory resolution on executive compensation.Source ↗

Key Financial Trends

Quarterly Revenue ($B)17.9

Free Cash Flow ($B)0.5