United Airlines
Carries passengers and cargo through a global network anchored by seven U.S. hubs.
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Profile
Carries passengers and cargo across a global hub-and-spoke network, with fares providing most revenue and MileagePlus, club memberships, and other services contributing the rest. Premium cabins, seven U.S. hubs, regional United Express feed, and airline partnerships broaden customer choice and network reach.
Operates a global hub-and-spoke passenger airline through United Airlines and contract carriers flying as United Express. The network is anchored by seven U.S. mainland hubs and reaches domestic markets and major international regions. Cabin products span Basic Economy, Economy, Economy Plus, Premium Plus, and Polaris, while United Cargo sells freight capacity and United Club serves lounge customers.
Most revenue comes from passenger travel. MileagePlus adds revenue through award travel, non-airline partners, and a co-branded card agreement with JPMorgan Chase, while Star Alliance and bilateral partners extend network reach. Scale, hub connectivity, network design, and operational reliability support the offering. Results depend on fuel availability and prices, labor agreements, aircraft deliveries, regional carriers, airport and air-traffic infrastructure, and extensive aviation regulation.
Company facts
Categories
Key statistics
Year to date −2.2% · Average volume (30d) 3.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 19, 2026 | Jefferies | Reiterate | Buy | $112 | $155 |
| Jul 17, 2026 | Susquehanna | Reiterate | Positive | $172 | $165 |
| Jul 16, 2026 | Morgan Stanley | Target | $185 | $190 | |
| Jul 7, 2026 | Susquehanna | Reiterate | Positive | $135 | $172 |
| Jul 6, 2026 | Morgan Stanley | Reiterate | Overweight | $182 | $185 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 15, 2026Q2 FY26 | $1.88 | $1.99 | +5.9% | $17.62B | $17.67B | +0.3% | −1.79% |
| Apr 21, 2026Q1 FY26 | $1.08 | $1.19 | +10.2% | $14.39B | $14.61B | +1.5% | −5.58% |
| Jan 20, 2026Q4 FY25 | $2.93 | $3.10 | +5.8% | $15.37B | $15.40B | +0.2% | +2.20% |
| Oct 15, 2025Q3 FY25 | $2.65 | $2.78 | +4.9% | $15.33B | $15.23B | −0.7% | −5.63% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $13.21B | $15.24B | $15.23B | $15.40B | $14.61B | $17.67B | |
| Gross profit | $8.28B | $9.89B | $9.84B | $9.88B | $9.24B | $11.97B | |
| Operating income | $607.0M | $1.33B | $1.40B | $1.39B | $997.0M | $1.10B | |
| Net income | $387.0M | $973.0M | $949.0M | $1.04B | $699.0M | $805.0M | |
| Diluted EPS | $1.16 | $2.97 | $2.90 | $3.19 | $2.14 | $2.46 | |
| Gross margin | 62.6% | 64.9% | 64.6% | 64.1% | 63.3% | 67.7% | |
| Operating margin | 4.6% | 8.7% | 9.2% | 9.0% | 6.8% | 6.2% |
Fiscal years (4-quarter sums)FY21 $24.63B · FY22 $44.96B · FY23 $53.72B · FY24 $57.06B · FY25 $59.07B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $16.64B · Total debt $33.67B · Total assets $84.57B · Shareholders' equity $16.70B
Dividends
No dividends on record.
Ownership
Shares outstanding 324.57M · Float 322.48M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 22.44M | 6.91% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 21.01M | 6.47% | 13F | Aug 13, 2026 |
| FMR LLC | 19.47M | 6.00% | 13F | Aug 13, 2026 |
| Primecap Management Co/CA/ | 16.46M | 5.07% | 13F | Aug 14, 2026 |
| Sanders Capital, LLC | 15.03M | 4.63% | 13F | Aug 10, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Andrew P. Nocella | officer: EVP & Chief Commercial Officer | −5,000 | $117.00 |
| Aug 4, 2026 | Andrew P. Nocella | officer: EVP & Chief Commercial Officer | −3,000 | $132.30 |
| Aug 3, 2026 | Michael D. Leskinen | officer: EVP & Chief Financial Officer | −10,000 | $128.19 |
| Jul 28, 2026 | Brett J. Hart | officer: President | −30,108 | $120.72 |
| Jul 28, 2026 | Andrew P. Nocella | officer: EVP & Chief Commercial Officer | −4,200 | $120.48 |
Peers
- Delta Air Lines
Closest full-network rival; SkyTeam vs. Star Alliance, premium to loyalty.
- American Airlines Group
Third Big Three legacy peer; ORD hub battle and oneworld vs. Star Alliance.
- Southwest Airlines
Largest US domestic LCC; fare pressure at United's DEN, HOU, ORD, and LAX hubs.
- Alaska Air Group
5th-largest US carrier; West Coast and Pacific rivalry post-Hawaiian merger.
- JetBlue
Premium transcon rival at EWR/JFK; Mint vs. Polaris with Blue Sky interline.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| United Airlines | $110.89 | +0.29% | $35.90B | 10.3 | 8.4 | 0.6 | +16.0% |
| Delta Air Lines | $80.10 | +0.05% | $52.66B | 13.3 | 9.8 | 0.8 | +18.7% |
| American Airlines Group | $13.69 | +0.37% | $9.03B | — | 10.5 | 0.2 | +16.3% |
| Southwest Airlines | $39.88 | +0.62% | $19.39B | 24.3 | 9.5 | 0.6 | +16.4% |
| Alaska Air Group | $42.63 | +0.73% | $4.72B | — | 20.7 | 0.3 | +9.8% |
| JetBlue | $4.88 | +1.56% | $1.81B | — | — | 0.2 | +14.5% |
| Median | 18.8 | 10.1 | 0.3 | +16.3% |