UAL
United Airlines Holdings, Inc. Industrials Air Transportation, Scheduled S&P 500Russell 3000
$104.24Close
$33.7BMarket cap
$85.21 – $136.1152-week range
Jan 19, 2027Next report · estimated
Highlights
Cautions
- Not in an uptrend 2 of 8 trend conditions
- Lagging the market RS 38 · weaker than 62% of stocks over 12 months
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
23%
1wk
up 6.4%
price change
1mo
down 6.0%
price change
12-month return
up 12%
market up 11% ·
its own down 2%
F-score
—
— Not assessed
Altman Z″
0.31
Elevated risk
P/E
10.1×
price / earnings
PEG
1.26
P/E / EPS growth
P/B
2.2×
price / book
Earnings yield
up 10.5%
EBIT / enterprise value
Cheaper than
80%
of the market · markedly cheap
Revenue growth
up 4%
year on year
EPS growth
up 8%
latest quarter · +25 pts
Sales growth
up 17%
latest quarter · +1 pts
ROE
up 24%
return on equity
Free cash margin
up 4%
$2.6B FCF
D/E
1.12
long-term debt / equity
Net debt / EBITDA
1.5×
Interest cover
—EBIT / interest
Piotroski tests
Repair signals
- Long-term debt down 21% ($21.7B → $17.2B)
Trade setup
ATR%
4.3%
$4.48 a day · 2×ATR $95.28
RS
38 / 99
vs the universe
Trend
2 / 8
trend template
Relative volume
1.1×
vs 50-day average
Up/down volume
1.13
50 sessions
Implied move
—
no scheduled report
Trend template · 2 of 8
- 150-day average above the 200-day: passes
- Within 25% of the 52-week high: passes
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
Last reported
Oct 20, 2026
Results reaction
Oct 20, 2026+5% vs market2 sessions after results
Options
$3.9M49.5% IV · activity
Financials
- Net 6%
- Free cash 4%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $15.4B | $24.6B | $45.0B | $53.7B | $57.1B | $59.1B |
| Operating income | -$6.4B | -$1.0B | $2.3B | $4.2B | $5.1B | $4.7B |
| Net income | -$7.1B | -$2.0B | $737.0M | $2.6B | $3.1B | $3.4B |
| Net margin | -46% | -8% | 2% | 5% | 6% | 6% |
| Earnings per share | -$25.30 | -$6.10 | $2.23 | $7.89 | $9.45 | $10.21 |
| Free cash flow | -$5.9B | -$40.0M | $1.2B | -$260.0M | $3.8B | $2.6B |
| Free cash margin | -38% | -0% | 3% | -0% | 7% | 4% |
| Cash | $11.3B | $18.3B | $7.2B | $6.1B | $8.8B | $5.9B |
| Long-term debt | $24.8B | $30.4B | $28.3B | $25.1B | $21.7B | $17.2B |
| Shareholders' equity | $6.0B | $5.0B | $6.9B | $9.3B | $12.7B | $15.3B |
| Shares outstanding | 311.85m | 323.81m | 326.93m | 328.02m | 327.90m | 323.47m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $93 – $116 ±10.9% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 49.5% priced · 43.1% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: no change
Positioning
- Premium traded
- $3.9M calls $2.2M · puts $1.6M · latest session
- 0.74× +0.42 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +73.69k · puts -6.68k past week
For options traders: ATM IV 49.5% (+1.4% 1w) · 1m ÷ 3m IV 1.04 · 25Δ skew 4.2 pts · Net GEX $34.4M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 21, 2026 | Quarterly ↗ | Sep 30, 2026 | 21d |
| Jul 16, 2026 | Quarterly ↗ | Jun 30, 2026 | 16d |
| Apr 22, 2026 | Quarterly ↗ | Mar 31, 2026 | 22d |
| Feb 12, 2026 | Annual ↗ | Dec 31, 2025 | 43d |
| Oct 16, 2025 | Quarterly ↗ | Sep 30, 2025 | 16d |
| Jul 17, 2025 | Quarterly ↗ | Jun 30, 2025 | 17d |
| Apr 16, 2025 | Quarterly ↗ | Mar 31, 2025 | 16d |
| Feb 27, 2025 | Annual ↗ | Dec 31, 2024 | 58d |
| Oct 16, 2024 | Quarterly ↗ | Sep 30, 2024 | 16d |
| Jul 18, 2024 | Quarterly ↗ | Jun 30, 2024 | 18d |
| Apr 17, 2024 | Quarterly ↗ | Mar 31, 2024 | 17d |
| Feb 29, 2024 | Annual ↗ | Dec 31, 2023 | 60d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 20, 2026 | Results · Regulation FD ↗ |
| Jul 15, 2026 | Results · Regulation FD ↗ |
| May 22, 2026 | Shareholder vote ↗ |
| Apr 27, 2026 | Regulation FD ↗ |
| Apr 21, 2026 | Results · Regulation FD ↗ |
| Feb 6, 2026 | Material agreement · New obligation · Other events ↗ |
| Feb 2, 2026 | Material agreement · New obligation · Other events ↗ |
| Jan 20, 2026 | Results · Regulation FD ↗ |
| Oct 15, 2025 | Results · Regulation FD ↗ |
| Jul 16, 2025 | Results · Regulation FD ↗ |
| Jul 9, 2025 | Agreement ended · Results ↗ |
| May 28, 2025 | Shareholder vote ↗ |