United Airlines Holdings (UAL) valuation
United Airlines Holdings P/E ratio history
United Airlines Holdings trades at 9.6 times its earnings over the last twelve months and 9.7 times the earnings analysts expect over the next twelve. At its last 8 fiscal year ends its P/E ranged from 5.2 (year to Dec 2023) to 16.9 (year to Dec 2022), with a median of 10.4.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $111.82 | $10.20 | 11.0 | 9.0 |
| Dec 31, 2024 | $97.10 | $9.45 | 10.3 | 8.2 |
| Dec 31, 2023 | $41.26 | $7.89 | 5.2 | 4.4 |
| Dec 31, 2022 | $37.70 | $2.23 | 16.9 | 7.8 |
| Dec 31, 2021 | $43.78 | -$6.10 | n/m | — |
| Dec 31, 2020 | $43.25 | -$25.30 | n/m | — |
| Dec 31, 2019 | $88.09 | $11.63 | 7.6 | — |
| Dec 31, 2018 | $83.73 | $7.73 | 10.8 | — |
| Dec 31, 2017 | $67.40 | $7.12 | 9.5 | — |
| Dec 31, 2016 | $72.88 | $6.93 | 10.5 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
United Airlines Holdings valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| United Airlines HoldingsUAL | $33.8B | 9.6 | 9.7 | 0.5 |
| Old DominionODFL | $35.9B | 33.2 | 26.4 | 6.4 |
| Expeditors InternationalEXPD | $26.0B | 28.9 | 24.9 | 2.2 |
| Delta Air LinesDAL | $52.7B | 16.0 | 11.7 | 0.7 |
| J.B. HuntJBHT | $20.8B | 31.1 | 24.0 | 1.6 |
| Southwest AirlinesLUV | $20.8B | 20.9 | 11.2 | 0.7 |
| FedEx FreightFDXF | $18.8B | 28.8 | — | — |
| FedExFDX | $74.8B | 21.0 | 15.5 | 0.8 |
| Norfolk SouthernNSC | $77.0B | 28.7 | 24.2 | 5.9 |
| Peer median | 28.8 | 24.0 | 1.6 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: UAL financials · UAL returns
No forecast, no recommendation. This page describes United Airlines Holdings from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.