# United Airlines Holdings, Inc. (UAL) · Edgar & Edgarette company card

> United Airlines Holdings (UAL) grew revenue 3.5% in FY2025 to $59.1 billion, operating margin 8.0% against a 2.7% median for air transportation, scheduled, equity 20.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 100517 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/UAL) · [JSON](https://www.pops4.com/boards/company/UAL.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $59.1B |
| Revenue growth, 1 year | 3.5% |
| Revenue growth per year | 24.4% |
| Operating margin | 8.0% (prior year 8.9%) |
| Net margin | 5.7% |
| Operating cash flow | $8.4B |
| Capital spending | $5.9B |
| Free cash flow | $2.6B |
| Cash | $5.9B |
| Long-term debt | $21.3B |
| Total assets | $76.4B |
| Total equity | $15.3B |
| Equity ÷ assets | 20.0% |
| Return on equity | 21.9% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 0.31 (distress zone)
- Piotroski F: 7 of 9 (solid)
- Health Harbor boat: Sound ship · one warning sign · revenue is hard to predict: its 80% range is ±25%
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $59.1B (FY2025), total debt $21.3B. Experience: revenue up 3.5% on the year, up 24.4% a year over 4 years; operating margin 8.0%, down from 8.9%. Soundness: equity 20.0% of assets, return on equity 21.9%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $46.5B and $78.3B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $37.0B to $96.5B. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, air transportation, scheduled): operating margin 8.0% against a 2.7% median; growth 3.5% against 3.5%.

Range logged 2026-09-27, receipt 9e48b30134a6ba21, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 10-Q · filed 2026-10-21 · [filing](https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/0000100517-26-000186-index.htm)
- 8-K · filed 2026-10-20 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/100517/000010051726000184/0000100517-26-000184-index.htm)
- 10-Q · filed 2026-07-16 · [filing](https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/0000100517-26-000139-index.htm)
- 8-K · filed 2026-07-15 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/100517/000010051726000135/0000100517-26-000135-index.htm)
- 8-K · filed 2026-05-22 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/100517/000110465926065739/0001104659-26-065739-index.htm)
- 8-K · filed 2026-04-27 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/100517/000110465926048992/0001104659-26-048992-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000100517.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=100517

## Cite

POPS4, Edgar & Edgarette: United Airlines Holdings, Inc. (UAL) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/UAL. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.