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UAL United Airlines Holdings, Inc.

Nasdaq, CIK 0000100517, fiscal year ends 12/31. Last price 97.93 on 2026-10-23, market value 31.8 billion dollars.

Machine-readable: UAL.json, UAL.md. Sections: Graham Defensive, Magic Formula, Momentum, Insider, Buffett Quality, Lynch GARP, Graham Enterprising, Piotroski F-Score, earnings record, insiders, filings and links.

Philosophy	Score	Status	Current inputs as of	History used	Price	Verification	Rules
Graham Defensive	43	ok	2025-12-31 stale: Revenue	2014–2025	2026-10-23	0 verified, 22 unverified	method
Magic Formula	50	ok	2026-03-31 stale: operating_income_q	—	2026-10-23	—	method
Momentum	57	ok	2026-10-23	—	2026-10-23	—	method
Insider	0	ok	2026-10-23	—	—	—	method
Buffett Quality	38	ok	2026-06-30	2016–2025	2026-10-23	0 verified, 47 unverified	method
Lynch GARP	27	ok	2026-06-30	2020–2025	2026-10-23	0 verified, 5 unverified	method
Graham Enterprising	32	ok	2026-09-30	2020–2025	2026-10-23	0 verified, 10 unverified	method
Piotroski F-Score	78	ok	—	2024–2026	—	0 verified, 27 unverified	method

Market value, source trail

market_value = traded_price (price date) / depositary_ratio x latest point-in-time SEC shares outstanding (share-count date shown; from the filing cover page, summed across share classes only where the issuer filing verifies the classes are economically equivalent (rule + evidence URL in the source text), else withheld; priced at the primary listed class, so where other classes trade at a different price the value is an approximation; restated only for issuer-verified splits after the count date); weighted-average share counts are never used

Input	Value	Unit	Period / date	Source
Traded price	97.93	USD per traded unit (share or ADS)	2026-10-23	Yahoo Finance
SEC shares outstanding	324,894,375	underlying shares	2026-10-15	SEC cover page 10-Q 0000100517-26-000186 (324,894,375 shares (single class on cover) (other registrants on a combined cover excluded: United Airlines, Inc. 1,000)); filing document https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ual-20260930.htm 0000100517-26-000186
Depositary ratio	1.0	underlying shares per traded unit		domestic 10-K filer; SEC shares are the traded units
Market value price date × latest reported shares	31,816,906,144	USD	2026-10-23 shares at 2026-10-15	97.93 (price 2026-10-23) / 1 x 324,894,375 (shares at 2026-10-15) = 31,816,906,144

Graham Defensive

43 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 Adequate size	59.07 revenue $B	>= 1	5.0 / 5
2a Current ratio	0.75	>= 2.0	0.0 / 15
2b Long-term debt vs working capital working capital not positive	— LTD / WC	<= 1.0	0.0 / 15
3 Positive earnings each of 10 years	8 of 10	10 of 10	12.0 / 15
4 Dividends every year for 20 years	1 of 20 missing 2006, 2007, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025 XBRL check: 0 years agree, 20 unverified	20 of 20	0.75 / 15
5 EPS growth, 3-yr avg now vs 10 yrs ago	9.72 -> 9.18 (-6%)	>= +33%	0.0 / 10
6 P/E on 3-year average EPS	10.7	<= 15	15.0 / 15
7 P/B <= 1.5, or P/E x P/B <= 22.5	P/B 1.79, product 19.1	<= 1.5 or <= 22.5	10.0 / 10

Inputs, 24 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	97.93	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
Revenue	59070000000.0	2025-12-31 stale	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
current_assets	19988000000.0	2026-09-30	SEC XBRL AssetsCurrent 0000100517-26-000186	unverified
current_liabilities	26639000000.0	2026-09-30	SEC XBRL LiabilitiesCurrent 0000100517-26-000186	unverified
lt_debt	24550000000.0	2026-09-30	SEC XBRL LongTermDebtAndCapitalLeaseObligations 0000100517-26-000186	unverified
equity	17754000000.0	2026-09-30	SEC XBRL StockholdersEquity 0000100517-26-000186	unverified
Net income FY2016	2234000000.0	2016-12-31 history	SEC XBRL NetIncomeLoss 0000100517-19-000009	unverified
Net income FY2017	2143000000.0	2017-12-31 history	SEC XBRL NetIncomeLoss 0000100517-20-000010	unverified
Net income FY2018	2122000000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0000100517-21-000016	unverified
Net income FY2019	3009000000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0000100517-22-000009	unverified
Net income FY2020	-7069000000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0000100517-23-000048	unverified
Net income FY2021	-1964000000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-24-000027	unverified
Net income FY2022	737000000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-25-000046	unverified
Net income FY2023	2618000000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2024	3149000000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2025	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Dividend years (Yahoo)	[2008]	history	Yahoo Finance dividend history	unverified
EPS diluted FY2014	2.93	2014-12-31 history	SEC XBRL EarningsPerShareDiluted 0001193125-17-054129	unverified
EPS diluted FY2015	19.47	2015-12-31 history	SEC XBRL EarningsPerShareDiluted 0001193125-18-054235	unverified
EPS diluted FY2016	6.76	2016-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-19-000009	unverified
EPS diluted FY2023	7.89	2023-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-26-000023	unverified
EPS diluted FY2024	9.45	2024-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-26-000023	unverified
EPS diluted FY2025	10.2	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-26-000023	unverified
Shares outstanding	324894375.0	2026-10-15	SEC cover page 10-Q 0000100517-26-000186 (324,894,375 shares (single class on cover) (other registrants on a combined cover excluded: United Airlines, Inc. 1,000)); filing document https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ual-20260930.htm 0000100517-26-000186	not cross-checked

Magic Formula

50 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
Earnings yield (EBIT/EV) EBIT trailing twelve months; EV = market cap + debt (24,294,000,000) - cash	9.96 % (rank 12)
Return on capital (EBIT/(NWC+PPE)) net working capital -6,651,000,000 used as reported	11.53 % (rank 174)
Combined rank	186

Inputs, 15 numbers with their sources

Input	Value	Period	Source	Check
operating_income	4713000000.0	2025-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	not cross-checked
operating_income_q	997000000.0	2026-03-31 stale	SEC XBRL OperatingIncomeLoss (quarter CY2026Q1) 0000100517-26-000091	not cross-checked
operating_income_q	607000000.0	2025-03-31 history	SEC XBRL OperatingIncomeLoss (quarter CY2025Q1) 0000100517-26-000091	not cross-checked
operating_income_q	1096000000.0	2026-06-30	SEC XBRL OperatingIncomeLoss (quarter CY2026Q2) 0000100517-26-000139	not cross-checked
operating_income_q	1325000000.0	2025-06-30 history	SEC XBRL OperatingIncomeLoss (quarter CY2025Q2) 0000100517-26-000139	not cross-checked
operating_income_q	1446000000.0	2026-09-30	SEC XBRL OperatingIncomeLoss (quarter CY2026Q3) 0000100517-26-000186	not cross-checked
operating_income_q	1395000000.0	2025-09-30 history	SEC XBRL OperatingIncomeLoss (quarter CY2025Q3) 0000100517-26-000186	not cross-checked
current_assets	19988000000.0	2026-09-30	SEC XBRL AssetsCurrent 0000100517-26-000186	not cross-checked
current_liabilities	26639000000.0	2026-09-30	SEC XBRL LiabilitiesCurrent 0000100517-26-000186	not cross-checked
cash	6648000000.0	2026-09-30	SEC XBRL CashAndCashEquivalentsAtCarryingValue 0000100517-26-000186	not cross-checked
ppe_net	49368000000.0	2026-09-30	SEC XBRL PropertyPlantAndEquipmentNet 0000100517-26-000186	not cross-checked
debt_incl_current	24294000000.0	2026-06-30	SEC XBRL LongTermDebtAndCapitalLeaseObligations 0000100517-26-000139	not cross-checked
shares_out	324894375.0	2026-10-15	SEC cover page 10-Q 0000100517-26-000186 (324,894,375 shares (single class on cover) (other registrants on a combined cover excluded: United Airlines, Inc. 1,000)); filing document https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ual-20260930.htm 0000100517-26-000186	not cross-checked
Price (close)	97.93	2026-10-23	Yahoo Finance / Alpaca Market Data	not cross-checked
note	debt = LongTermDebt (incl. current maturities)			not cross-checked

Momentum

57 of 100. ok. How this is scored.

Test or factor	Value	Points
12-1 month return	15.7 % (percentile 61.9)	30.9 / 50
6 month return	7.3 % (percentile 58.3)	11.7 / 20
Price / 52-week high	0.719	10.8 / 15
Volatility penalty (60d annualised)	39.4 %	3.4 / 15

Inputs, 1 numbers with their sources

Input	Value	Period	Source	Check
Adjusted close series (14 months)	97.93	2026-10-23	Yahoo Finance / Alpaca Market Data daily history	not cross-checked

Insider

0 of 100. ok. How this is scored. Form 4 data loaded through 2026-10-23

Test or factor	Value	Points
Open-market buy value / market cap (percentile among buyers)	0.0 bp	0.0 / 35
Distinct buyers	0	0.0 / 25
Buyer seniority	0.0	0.0 / 20
Recency (half-life 30d)	0.0	0.0 / 10
Sales penalty (excludes 10b5-1 plan sales)	1.61 bp	-7.8 / 0

Inputs, 5 numbers with their sources

Input	Value	Period	Source	Check
Form 4 S Nocella Andrew P 2026-08-25	585000.0	2026-08-25	SEC Form 4 (insider transactions data set)	not cross-checked
Form 4 S Nocella Andrew P 2026-08-04	396900.00000000006	2026-08-04	SEC Form 4 (insider transactions data set)	not cross-checked
Form 4 S Hart Brett J 2026-07-28	3634637.76	2026-07-28	SEC Form 4 (insider transactions data set)	not cross-checked
Form 4 S Nocella Andrew P 2026-07-28	506016.0	2026-07-28	SEC Form 4 (insider transactions data set)	not cross-checked
excluded 2026-08-03 S	10b5-1 plan		rule	not cross-checked

Buffett Quality

38 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 Average return on equity (net income / year-end equity)	-3.1% over 8 yrs	>= 15%	0.0 / 25
2 Profitable every year	8 of 10	all years	12.0 / 15
3 Net income growth, 3-yr average now vs start of window	+5.0% a year	>= +10%	5.0 / 10
4 Borrowings / 3-yr average earnings (years to repay) LongTermDebt (incl. current maturities)	8.0 years	<= 4	0.0 / 15
5 Operating margin, 5-yr average	5.2%	>= 20%	0.0 / 10
6 Free cash flow / net income, 5-yr (operating cash flow minus capex)	0.93	>= 1.0	8.6 / 10
7 Owner-earnings yield (3-yr avg free cash flow / market cap)	6.4%	>= 7%	12.8 / 15

Inputs, 49 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	97.93	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
Net income FY2018	2122000000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0000100517-21-000016	unverified
Equity at FY2018 end	10042000000.0	2018-12-31 history	SEC XBRL StockholdersEquity 0000100517-22-000009	unverified
Net income FY2019	3009000000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0000100517-22-000009	unverified
Equity at FY2019 end	11531000000.0	2019-12-31 history	SEC XBRL StockholdersEquity 0000100517-23-000048	unverified
Net income FY2020	-7069000000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0000100517-23-000048	unverified
Equity at FY2020 end	5960000000.0	2020-12-31 history	SEC XBRL StockholdersEquity 0000100517-24-000027	unverified
Net income FY2021	-1964000000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-24-000027	unverified
Equity at FY2021 end	5029000000.0	2021-12-31 history	SEC XBRL StockholdersEquity 0000100517-25-000046	unverified
Net income FY2022	737000000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-25-000046	unverified
Equity at FY2022 end	6896000000.0	2022-12-31 history	SEC XBRL StockholdersEquity 0000100517-26-000023	unverified
Net income FY2023	2618000000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Equity at FY2023 end	9324000000.0	2023-12-31 history	SEC XBRL StockholdersEquity 0000100517-26-000023	unverified
Net income FY2024	3149000000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Equity at FY2024 end	12675000000.0	2024-12-31 history	SEC XBRL StockholdersEquity 0000100517-26-000186	unverified
Net income FY2025	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Equity at FY2025 end	15282000000.0	2025-12-31 history	SEC XBRL StockholdersEquity 0000100517-26-000186	unverified
Net income FY2016	2234000000.0	2016-12-31 history	SEC XBRL NetIncomeLoss 0000100517-19-000009	unverified
Net income FY2017	2143000000.0	2017-12-31 history	SEC XBRL NetIncomeLoss 0000100517-20-000010	unverified
Net income FY2018	2122000000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0000100517-21-000016	unverified
Net income FY2019	3009000000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0000100517-22-000009	unverified
Net income FY2020	-7069000000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0000100517-23-000048	unverified
Net income FY2021	-1964000000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-24-000027	unverified
Net income FY2022	737000000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-25-000046	unverified
Net income FY2023	2618000000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2024	3149000000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2025	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
debt_incl_current	24294000000.0	2026-06-30	SEC XBRL LongTermDebtAndCapitalLeaseObligations 0000100517-26-000139	unverified
Operating income FY2021	-1022000000.0	2021-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-24-000027	unverified
Revenue FY2021	24634000000.0	2021-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-24-000027	unverified
Operating income FY2022	2337000000.0	2022-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-25-000046	unverified
Revenue FY2022	44955000000.0	2022-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-25-000046	unverified
Operating income FY2023	4211000000.0	2023-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	unverified
Revenue FY2023	53717000000.0	2023-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
Operating income FY2024	5096000000.0	2024-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	unverified
Revenue FY2024	57063000000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
Operating income FY2025	4713000000.0	2025-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	unverified
Revenue FY2025	59070000000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
Operating cash flow FY2021	2067000000.0	2021-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-24-000027	unverified
Capital expenditure FY2021	2107000000.0	2021-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0000100517-24-000027	unverified
Operating cash flow FY2022	6066000000.0	2022-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-25-000046	unverified
Capital expenditure FY2022	4819000000.0	2022-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0000100517-25-000046	unverified
Operating cash flow FY2023	6911000000.0	2023-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-26-000023	unverified
Capital expenditure FY2023	7171000000.0	2023-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0000100517-26-000023	unverified
Operating cash flow FY2024	9445000000.0	2024-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-26-000023	unverified
Capital expenditure FY2024	5615000000.0	2024-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0000100517-26-000023	unverified
Operating cash flow FY2025	8431000000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-26-000023	unverified
Capital expenditure FY2025	5874000000.0	2025-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0000100517-26-000023	unverified
Shares outstanding	324894375.0	2026-10-15	SEC cover page 10-Q 0000100517-26-000186 (324,894,375 shares (single class on cover) (other registrants on a combined cover excluded: United Airlines, Inc. 1,000)); filing document https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ual-20260930.htm 0000100517-26-000186	not cross-checked

Lynch GARP

27 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 PEG: P/E divided by 5-yr EPS growth (in % points) earnings not positive in both years, or growth not positive: PEG undefined	—	<= 1.0	0.0 / 30
2 EPS growth, 5-yr compound rate earnings not positive in both years	—	12% to 35% a year	0.0 / 20
3 P/E on latest annual EPS	9.6	<= 25	10.0 / 10
4 Borrowings / equity LongTermDebt (incl. current maturities)	1.37	<= 0.5	2.0 / 15
5 Years of the last 5 in which EPS rose	5 of 5	5 of 5	15.0 / 15
6 Net cash (cash minus borrowings) / market cap	-55.5%	>= +10%	0.0 / 10

Inputs, 6 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	97.93	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
EPS diluted FY2025	10.2	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-26-000023	unverified
EPS diluted FY2020	-25.3	2020-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-23-000048	unverified
debt_incl_current	24294000000.0	2026-06-30	SEC XBRL LongTermDebtAndCapitalLeaseObligations 0000100517-26-000139	unverified
equity	17754000000.0	2026-09-30	SEC XBRL StockholdersEquity 0000100517-26-000186	unverified
cash	6648000000.0	2026-09-30	SEC XBRL CashAndCashEquivalentsAtCarryingValue 0000100517-26-000186	unverified

Graham Enterprising

32 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 Current ratio	0.75	>= 1.5	0.0 / 15
2 Borrowings vs working capital working capital not positive	—	<= 1.1x	0.0 / 15
3 No earnings deficit in the last 5 years	4 of 5 profitable	5 of 5	12.0 / 15
4 Pays a current dividend	no	yes	0.0 / 10
5 EPS higher than five years earlier	-25.30 -> 10.20	higher	10.0 / 10
6 Price / book value per share book value used because intangibles are not separated in the dataset (Graham uses net tangible assets)	1.79	<= 1.2	10.1 / 20
7 Price / net current asset value per share (current assets minus all liabilities) net current asset value not positive	—	<= 0.67	0.0 / 15

Inputs, 13 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	97.93	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
current_assets	19988000000.0	2026-09-30	SEC XBRL AssetsCurrent 0000100517-26-000186	unverified
current_liabilities	26639000000.0	2026-09-30	SEC XBRL LiabilitiesCurrent 0000100517-26-000186	unverified
Net income FY2021	-1964000000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-24-000027	unverified
Net income FY2022	737000000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-25-000046	unverified
Net income FY2023	2618000000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2024	3149000000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Net income FY2025	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
Dividend years (Yahoo)	[2008]	history	Yahoo Finance dividend history	not cross-checked
EPS diluted FY2025	10.2	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-26-000023	unverified
EPS diluted FY2020	-25.3	2020-12-31 history	SEC XBRL EarningsPerShareDiluted 0000100517-23-000048	unverified
equity	17754000000.0	2026-09-30	SEC XBRL StockholdersEquity 0000100517-26-000186	unverified
Shares outstanding	324894375.0	2026-10-15	SEC cover page 10-Q 0000100517-26-000186 (324,894,375 shares (single class on cover) (other registrants on a combined cover excluded: United Airlines, Inc. 1,000)); filing document https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ual-20260930.htm 0000100517-26-000186	not cross-checked

Piotroski F-Score

78 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 Return on assets is positive	4.4%	pass = 1	11.11111111111111 / 11.11111111111111
2 Operating cash flow is positive	8,431M	pass = 1	11.11111111111111 / 11.11111111111111
3 Return on assets improved on the prior year	4.3% -> 4.4%	pass = 1	11.11111111111111 / 11.11111111111111
4 Operating cash flow exceeds net income (accruals)	8,431M vs 3,353M	pass = 1	11.11111111111111 / 11.11111111111111
5 Long-term debt / assets fell	29.3% -> 22.5%	pass = 1	11.11111111111111 / 11.11111111111111
6 Current ratio improved	0.81 -> 0.65	pass = 1	0.0 / 11.11111111111111
7 No new shares issued (share count did not rise)	324M -> 325M	pass = 1	11.11111111111111 / 11.11111111111111
8 Operating margin improved (stand-in for gross margin, which the dataset does not carry)	8.9% -> 8.0%	pass = 1	0.0 / 11.11111111111111
9 Asset turnover (revenue / assets) improved	0.77 -> 0.77	pass = 1	11.11111111111111 / 11.11111111111111

Inputs, 27 numbers with their sources

Input	Value	Period	Source	Check
net_income 2025-12-31	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
total_assets 2025-12-31	76448000000.0	2025-12-31 history	SEC XBRL Assets 0000100517-26-000186	unverified
cfo 2025-12-31	8431000000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-26-000023	unverified
net_income 2025-12-31	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
net_income 2024-12-31	3149000000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
total_assets 2025-12-31	76448000000.0	2025-12-31 history	SEC XBRL Assets 0000100517-26-000186	unverified
total_assets 2024-12-31	74083000000.0	2024-12-31 history	SEC XBRL Assets 0000100517-26-000023	unverified
cfo 2025-12-31	8431000000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0000100517-26-000023	unverified
net_income 2025-12-31	3353000000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) 0000100517-26-000023	unverified
lt_debt 2025-12-31	17170000000.0	2025-12-31 history	SEC XBRL LongTermDebtNoncurrent 0000100517-26-000023	unverified
lt_debt 2024-12-31	21680000000.0	2024-12-31 history	SEC XBRL LongTermDebtNoncurrent 0000100517-26-000023	unverified
total_assets 2025-12-31	76448000000.0	2025-12-31 history	SEC XBRL Assets 0000100517-26-000186	unverified
total_assets 2024-12-31	74083000000.0	2024-12-31 history	SEC XBRL Assets 0000100517-26-000023	unverified
current_assets 2025-12-31	16857000000.0	2025-12-31 history	SEC XBRL AssetsCurrent 0000100517-26-000186	unverified
current_assets 2024-12-31	18883000000.0	2024-12-31 history	SEC XBRL AssetsCurrent 0000100517-26-000023	unverified
current_liabilities 2025-12-31	26133000000.0	2025-12-31 history	SEC XBRL LiabilitiesCurrent 0000100517-26-000186	unverified
current_liabilities 2024-12-31	23314000000.0	2024-12-31 history	SEC XBRL LiabilitiesCurrent 0000100517-26-000023	unverified
shares_out 2026-10-15	324894375.0	2026-10-15 history	SEC XBRL EntityCommonStockSharesOutstanding 0000100517-26-000186	unverified
shares_out 2025-10-09	323737989.0	2025-10-09 history	SEC XBRL EntityCommonStockSharesOutstanding 0000100517-25-000193	unverified
operating_income 2025-12-31	4713000000.0	2025-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	unverified
operating_income 2024-12-31	5096000000.0	2024-12-31 history	SEC XBRL OperatingIncomeLoss 0000100517-26-000023	unverified
revenue 2025-12-31	59070000000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
revenue 2024-12-31	57063000000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
revenue 2025-12-31	59070000000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
revenue 2024-12-31	57063000000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0000100517-26-000023	unverified
total_assets 2025-12-31	76448000000.0	2025-12-31 history	SEC XBRL Assets 0000100517-26-000186	unverified
total_assets 2024-12-31	74083000000.0	2024-12-31 history	SEC XBRL Assets 0000100517-26-000023	unverified

Earnings record

SEC XBRL, by fiscal year (named by the calendar year it ends in); EPS split-adjusted to today's shares; each row links to the filing.

FY	Ended	Revenue, $M	Net income, $M	EPS diluted	Dividend	Filing
2013	2013-12-31	38,279	571	1.53	none	0001193125-16-468479
2014	2014-12-31	38,901	1,132	2.93	none	0001193125-17-054129
2015	2015-12-31	37,864	7,340	19.47	none	0001193125-18-054235
2016	2016-12-31	36,556	2,234	6.76	none	0000100517-19-000009
2017	2017-12-31	37,736	2,143	7.06	none	0000100517-20-000010
2018	2018-12-31	41,303	2,122	7.67	none	0000100517-21-000016
2019	2019-12-31	43,259	3,009	11.58	none	0000100517-22-000009
2020	2020-12-31	15,355	-7,069	-25.3	none	0000100517-23-000048
2021	2021-12-31	24,634	-1,964	-6.1	none	0000100517-24-000027
2022	2022-12-31	44,955	737	2.23	none	0000100517-25-000046
2023	2023-12-31	53,717	2,618	7.89	none	0000100517-26-000023
2024	2024-12-31	57,063	3,149	9.45	none	0000100517-26-000023
2025	2025-12-31	59,070	3,353	10.2	none	0000100517-26-000023

Insider transactions

SEC Form 4 open-market purchases and sales from the insider data sets; latest 20.

Date	Insider	Role	Type	Shares	Price	Value
2026-08-25	Nocella Andrew P	officer	sale	5,000	117.00	585,000
2026-08-04	Nocella Andrew P	officer	sale	3,000	132.30	396,900
2026-08-03	Leskinen Michael D.	CFO	sale plan	10,000	128.19	1,281,900
2026-07-28	Hart Brett J	Pres	sale	30,108	120.72	3,634,638
2026-07-28	Nocella Andrew P	officer	sale	4,200	120.48	506,016
2026-07-24	Enqvist Torbjorn J	officer	sale	20,000	119.91	2,398,200
2026-07-21	Kirby J Scott	CEO	sale	159,321	118.05	18,807,844
2026-06-16	Kirby J Scott	CEO	sale	1,078	120.74	130,158
2026-06-15	Kirby J Scott	CEO	sale	48,303	121.30	5,859,154
2026-05-26	Gebo Kate	officer	sale	34,669	105.41	3,654,459
2026-05-26	Gebo Kate	officer	sale	5,331	105.51	562,474
2026-05-01	Nocella Andrew P	officer	sale	7,000	90.19	631,330

Filings and links

Third-party sites are linked only; nothing from them is stored here.

SEC: filing index, 8-K, Form 4, XBRL companyfacts
Prices: Yahoo Finance, Stooq
Elsewhere: morningstar, finviz, stockanalysis, seeking alpha, openinsider, google news

Cite as: The Claude Trader snapshot 2026-10-26, https://theclaudetrader.com/s/UAL; data from SEC EDGAR XBRL and market prices (Alpaca Market Data, Yahoo Finance) to 2026-10-23. Data last checked 2026-10-26.