# UAL · United Airlines Holdings, Inc. Snapshot 2026-10-26 · CIK 0000100517 · Nasdaq · Air Transportation, Scheduled Price 97.93 (2026-10-23, Alpaca Market Data (consolidated SIP daily bar)) · Market cap 31.82 B Machine-readable: https://theclaudetrader.com/s/UAL.json · index: https://theclaudetrader.com/llms.txt ## Scores ### Graham Defensive: 42.8 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: Revenue · history 2014–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 22, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham - 1 Adequate size: 59.07 revenue $B · threshold >= 1 · points 5.0/5 - 2a Current ratio: 0.75 · threshold >= 2.0 · points 0.0/15 - 2b Long-term debt vs working capital: None LTD / WC · threshold <= 1.0 · points 0.0/15 - 3 Positive earnings each of 10 years: 8 of 10 · threshold 10 of 10 · points 12.0/15 - 4 Dividends every year for 20 years: 1 of 20 · threshold 20 of 20 · points 0.75/15 - 5 EPS growth, 3-yr avg now vs 10 yrs ago: 9.72 -> 9.18 (-6%) · threshold >= +33% · points 0.0/10 - 6 P/E on 3-year average EPS: 10.7 · threshold <= 15 · points 15.0/15 - 7 P/B <= 1.5, or P/E x P/B <= 22.5: P/B 1.79, product 19.1 · threshold <= 1.5 or <= 22.5 · points 10.0/10 Inputs: - Price (close, per traded unit): 97.93 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1 - Revenue: 59070000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - current_assets: 19988000000.0 · 2026-09-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - current_liabilities: 26639000000.0 · 2026-09-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - lt_debt: 24550000000.0 · 2026-09-30 · SEC XBRL LongTermDebtAndCapitalLeaseObligations · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - equity: 17754000000.0 · 2026-09-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - Net income FY2016: 2234000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051719000009/ · unverified - Net income FY2017: 2143000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051720000010/ · unverified - Net income FY2018: 2122000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051721000016/ · unverified - Net income FY2019: 3009000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ · unverified - Net income FY2020: -7069000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - Net income FY2021: -1964000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Net income FY2022: 737000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Net income FY2023: 2618000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2024: 3149000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2025: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Dividend years (Yahoo): [2008] · · Yahoo Finance dividend history · https://finance.yahoo.com/quote/UAL/history?filter=div · unverified - EPS diluted FY2014: 2.93 · 2014-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000119312517054129/ · unverified - EPS diluted FY2015: 19.47 · 2015-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000119312518054235/ · unverified - EPS diluted FY2016: 6.76 · 2016-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051719000009/ · unverified - EPS diluted FY2023: 7.89 · 2023-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - EPS diluted FY2024: 9.45 · 2024-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - EPS diluted FY2025: 10.2 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · 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 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/R1.htm ### Magic Formula: 49.5 (ok) · complete: True · missing tests: none · current inputs as of 2026-03-31 · stale inputs: operating_income_q · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/magic_formula - Earnings yield (EBIT/EV): 9.96 % · threshold · points / - Return on capital (EBIT/(NWC+PPE)): 11.53 % · threshold · points / - Combined rank: 186 · threshold · points / Inputs: - operating_income: 4713000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ - operating_income_q: 997000000.0 · 2026-03-31 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q1) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000091/ - operating_income_q: 607000000.0 · 2025-03-31 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q1) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000091/ - operating_income_q: 1096000000.0 · 2026-06-30 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q2) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/ - operating_income_q: 1325000000.0 · 2025-06-30 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q2) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/ - operating_income_q: 1446000000.0 · 2026-09-30 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q3) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - operating_income_q: 1395000000.0 · 2025-09-30 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q3) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - current_assets: 19988000000.0 · 2026-09-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - current_liabilities: 26639000000.0 · 2026-09-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - cash: 6648000000.0 · 2026-09-30 · SEC XBRL CashAndCashEquivalentsAtCarryingValue · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - ppe_net: 49368000000.0 · 2026-09-30 · SEC XBRL PropertyPlantAndEquipmentNet · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ - debt_incl_current: 24294000000.0 · 2026-06-30 · SEC XBRL LongTermDebtAndCapitalLeaseObligations · https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/ - 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 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/R1.htm - Price (close): 97.93 · 2026-10-23 · Yahoo Finance / Alpaca Market Data · - note: debt = LongTermDebt (incl. current maturities) · · · ### Momentum: 56.8 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/momentum - 12-1 month return: 15.7 % · threshold · points 30.9/50 - 6 month return: 7.3 % · threshold · points 11.7/20 - Price / 52-week high: 0.719 · threshold · points 10.8/15 - Volatility penalty (60d annualised): 39.4 % · threshold · points 3.4/15 Inputs: - Adjusted close series (14 months): 97.93 · 2026-10-23 · Yahoo Finance / Alpaca Market Data daily history · ### Insider: 0.0 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/insider - Open-market buy value / market cap (percentile among buyers): 0.0 bp · threshold · points 0.0/35 - Distinct buyers: 0 · threshold · points 0.0/25 - Buyer seniority: 0.0 · threshold · points 0.0/20 - Recency (half-life 30d): 0.0 · threshold · points 0.0/10 - Sales penalty (excludes 10b5-1 plan sales): 1.61 bp · threshold · points -7.8/0 Inputs: - Form 4 S Nocella Andrew P 2026-08-25: 585000.0 · 2026-08-25 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000168/ - Form 4 S Nocella Andrew P 2026-08-04: 396900.00000000006 · 2026-08-04 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000163/ - Form 4 S Hart Brett J 2026-07-28: 3634637.76 · 2026-07-28 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000157/ - Form 4 S Nocella Andrew P 2026-07-28: 506016.0 · 2026-07-28 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000159/ - excluded 2026-08-03 S: 10b5-1 plan · · rule · ### Buffett Quality: 38.4 (ok) · complete: True · missing tests: none · current inputs as of 2026-06-30 · stale inputs: none · history 2016–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 47, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/buffett - 1 Average return on equity (net income / year-end equity): -3.1% over 8 yrs · threshold >= 15% · points 0.0/25 - 2 Profitable every year: 8 of 10 · threshold all years · points 12.0/15 - 3 Net income growth, 3-yr average now vs start of window: +5.0% a year · threshold >= +10% · points 5.0/10 - 4 Borrowings / 3-yr average earnings (years to repay): 8.0 years · threshold <= 4 · points 0.0/15 - 5 Operating margin, 5-yr average: 5.2% · threshold >= 20% · points 0.0/10 - 6 Free cash flow / net income, 5-yr (operating cash flow minus capex): 0.93 · threshold >= 1.0 · points 8.6/10 - 7 Owner-earnings yield (3-yr avg free cash flow / market cap): 6.4% · threshold >= 7% · points 12.8/15 Inputs: - Price (close, per traded unit): 97.93 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1 - Net income FY2018: 2122000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051721000016/ · unverified - Equity at FY2018 end: 10042000000.0 · 2018-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ · unverified - Net income FY2019: 3009000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ · unverified - Equity at FY2019 end: 11531000000.0 · 2019-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - Net income FY2020: -7069000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - Equity at FY2020 end: 5960000000.0 · 2020-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Net income FY2021: -1964000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Equity at FY2021 end: 5029000000.0 · 2021-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Net income FY2022: 737000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Equity at FY2022 end: 6896000000.0 · 2022-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2023: 2618000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Equity at FY2023 end: 9324000000.0 · 2023-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2024: 3149000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Equity at FY2024 end: 12675000000.0 · 2024-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - Net income FY2025: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Equity at FY2025 end: 15282000000.0 · 2025-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - Net income FY2016: 2234000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051719000009/ · unverified - Net income FY2017: 2143000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051720000010/ · unverified - Net income FY2018: 2122000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051721000016/ · unverified - Net income FY2019: 3009000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ · unverified - Net income FY2020: -7069000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - Net income FY2021: -1964000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Net income FY2022: 737000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Net income FY2023: 2618000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2024: 3149000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2025: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - debt_incl_current: 24294000000.0 · 2026-06-30 · SEC XBRL LongTermDebtAndCapitalLeaseObligations · https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/ · unverified - Operating income FY2021: -1022000000.0 · 2021-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Revenue FY2021: 24634000000.0 · 2021-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Operating income FY2022: 2337000000.0 · 2022-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Revenue FY2022: 44955000000.0 · 2022-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Operating income FY2023: 4211000000.0 · 2023-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Revenue FY2023: 53717000000.0 · 2023-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Operating income FY2024: 5096000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Revenue FY2024: 57063000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Operating income FY2025: 4713000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Revenue FY2025: 59070000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Operating cash flow FY2021: 2067000000.0 · 2021-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Capital expenditure FY2021: 2107000000.0 · 2021-12-31 · SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified ### Lynch GARP: 27.0 (ok) · complete: True · missing tests: none · current inputs as of 2026-06-30 · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 5, 'not_cross_checked': 1} · computed 2026-10-26 · rules https://theclaudetrader.com/p/lynch - 1 PEG: P/E divided by 5-yr EPS growth (in % points): None · threshold <= 1.0 · points 0.0/30 - 2 EPS growth, 5-yr compound rate: None · threshold 12% to 35% a year · points 0.0/20 - 3 P/E on latest annual EPS: 9.6 · threshold <= 25 · points 10.0/10 - 4 Borrowings / equity: 1.37 · threshold <= 0.5 · points 2.0/15 - 5 Years of the last 5 in which EPS rose: 5 of 5 · threshold 5 of 5 · points 15.0/15 - 6 Net cash (cash minus borrowings) / market cap: -55.5% · threshold >= +10% · points 0.0/10 Inputs: - Price (close, per traded unit): 97.93 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1 - EPS diluted FY2025: 10.2 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - EPS diluted FY2020: -25.3 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - debt_incl_current: 24294000000.0 · 2026-06-30 · SEC XBRL LongTermDebtAndCapitalLeaseObligations · https://www.sec.gov/Archives/edgar/data/100517/000010051726000139/ · unverified - equity: 17754000000.0 · 2026-09-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - cash: 6648000000.0 · 2026-09-30 · SEC XBRL CashAndCashEquivalentsAtCarryingValue · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified ### Graham Enterprising: 32.1 (ok) · complete: True · missing tests: none · current inputs as of 2026-09-30 · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 10, 'not_cross_checked': 3} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham_enterprising - 1 Current ratio: 0.75 · threshold >= 1.5 · points 0.0/15 - 2 Borrowings vs working capital: None · threshold <= 1.1x · points 0.0/15 - 3 No earnings deficit in the last 5 years: 4 of 5 profitable · threshold 5 of 5 · points 12.0/15 - 4 Pays a current dividend: no · threshold yes · points 0.0/10 - 5 EPS higher than five years earlier: -25.30 -> 10.20 · threshold higher · points 10.0/10 - 6 Price / book value per share: 1.79 · threshold <= 1.2 · points 10.1/20 - 7 Price / net current asset value per share (current assets minus all liabilities): None · threshold <= 0.67 · points 0.0/15 Inputs: - Price (close, per traded unit): 97.93 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1 - current_assets: 19988000000.0 · 2026-09-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - current_liabilities: 26639000000.0 · 2026-09-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - Net income FY2021: -1964000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ · unverified - Net income FY2022: 737000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ · unverified - Net income FY2023: 2618000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2024: 3149000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Net income FY2025: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - Dividend years (Yahoo): [2008] · · Yahoo Finance dividend history · https://finance.yahoo.com/quote/UAL/history?filter=div - EPS diluted FY2025: 10.2 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - EPS diluted FY2020: -25.3 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ · unverified - equity: 17754000000.0 · 2026-09-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · 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 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/R1.htm ### Piotroski F-Score: 77.8 (ok) · complete: True · missing tests: none · current inputs as of None · stale inputs: none · history 2024–2026 · price None · verification {'verified': 0, 'mismatch': 0, 'unverified': 27, 'not_cross_checked': 0} · computed 2026-10-26 · rules https://theclaudetrader.com/p/piotroski - 1 Return on assets is positive: 4.4% · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 2 Operating cash flow is positive: 8,431M · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 3 Return on assets improved on the prior year: 4.3% -> 4.4% · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 4 Operating cash flow exceeds net income (accruals): 8,431M vs 3,353M · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 5 Long-term debt / assets fell: 29.3% -> 22.5% · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 6 Current ratio improved: 0.81 -> 0.65 · threshold pass = 1 · points 0.0/11.11111111111111 - 7 No new shares issued (share count did not rise): 324M -> 325M · threshold pass = 1 · points 11.11111111111111/11.11111111111111 - 8 Operating margin improved (stand-in for gross margin, which the dataset does not carry): 8.9% -> 8.0% · threshold pass = 1 · points 0.0/11.11111111111111 - 9 Asset turnover (revenue / assets) improved: 0.77 -> 0.77 · threshold pass = 1 · points 11.11111111111111/11.11111111111111 Inputs: - net_income 2025-12-31: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - total_assets 2025-12-31: 76448000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - cfo 2025-12-31: 8431000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - net_income 2025-12-31: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - net_income 2024-12-31: 3149000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - total_assets 2025-12-31: 76448000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - total_assets 2024-12-31: 74083000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - cfo 2025-12-31: 8431000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - net_income 2025-12-31: 3353000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001104659-26-040467) · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - lt_debt 2025-12-31: 17170000000.0 · 2025-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - lt_debt 2024-12-31: 21680000000.0 · 2024-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - total_assets 2025-12-31: 76448000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - total_assets 2024-12-31: 74083000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - current_assets 2025-12-31: 16857000000.0 · 2025-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - current_assets 2024-12-31: 18883000000.0 · 2024-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - current_liabilities 2025-12-31: 26133000000.0 · 2025-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - current_liabilities 2024-12-31: 23314000000.0 · 2024-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - shares_out 2026-10-15: 324894375.0 · 2026-10-15 · SEC XBRL EntityCommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - shares_out 2025-10-09: 323737989.0 · 2025-10-09 · SEC XBRL EntityCommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/100517/000010051725000193/ · unverified - operating_income 2025-12-31: 4713000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - operating_income 2024-12-31: 5096000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - revenue 2025-12-31: 59070000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - revenue 2024-12-31: 57063000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - revenue 2025-12-31: 59070000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - revenue 2024-12-31: 57063000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified - total_assets 2025-12-31: 76448000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/ · unverified - total_assets 2024-12-31: 74083000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ · unverified ## Market value, source trail - Formula: 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 - Traded price: 97.93 on 2026-10-23 (USD per traded unit (share or ADS)) · https://docs.alpaca.markets/docs/historical-stock-data-1 - SEC shares outstanding: 324,894,375 underlying shares, period 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, accession 0000100517-26-000186 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000186/R1.htm - Depositary ratio: 1.0 (domestic; 10-K filer; SEC shares are the traded units) · None - Market value (price date x latest reported shares): 31,816,906,144 USD; 97.93 (price 2026-10-23) / 1 x 324,894,375 (shares at 2026-10-15) = 31,816,906,144 ## Revenue by fiscal year (SEC XBRL; FY = calendar year in which the fiscal year ends) - FY2013 (ended 2013-12-31): 38279000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312516468479/ - FY2014 (ended 2014-12-31): 38901000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312517054129/ - FY2015 (ended 2015-12-31): 37864000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312518054235/ - FY2016 (ended 2016-12-31): 36556000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312518054235/ - FY2017 (ended 2017-12-31): 37736000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312518054235/ - FY2018 (ended 2018-12-31): 41303000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051721000016/ - FY2019 (ended 2019-12-31): 43259000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ - FY2020 (ended 2020-12-31): 15355000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ - FY2021 (ended 2021-12-31): 24634000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ - FY2022 (ended 2022-12-31): 44955000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ - FY2023 (ended 2023-12-31): 53717000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ - FY2024 (ended 2024-12-31): 57063000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ - FY2025 (ended 2025-12-31): 59070000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ ## Net income by fiscal year (SEC XBRL) - FY2013 (ended 2013-12-31): 571000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312516468479/ - FY2014 (ended 2014-12-31): 1132000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312517054129/ - FY2015 (ended 2015-12-31): 7340000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000119312518054235/ - FY2016 (ended 2016-12-31): 2234000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051719000009/ - FY2017 (ended 2017-12-31): 2143000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051720000010/ - FY2018 (ended 2018-12-31): 2122000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051721000016/ - FY2019 (ended 2019-12-31): 3009000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051722000009/ - FY2020 (ended 2020-12-31): -7069000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051723000048/ - FY2021 (ended 2021-12-31): -1964000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051724000027/ - FY2022 (ended 2022-12-31): 737000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051725000046/ - FY2023 (ended 2023-12-31): 2618000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ - FY2024 (ended 2024-12-31): 3149000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ - FY2025 (ended 2025-12-31): 3353000000.0 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ ## EPS diluted by fiscal year (split-adjusted to today's share basis; as filed in brackets) - FY2013 (ended 2013-12-31): 1.53 [filed 1.53, split factor 1.0] - FY2014 (ended 2014-12-31): 2.93 [filed 2.93, split factor 1.0] - FY2015 (ended 2015-12-31): 19.47 [filed 19.47, split factor 1.0] - FY2016 (ended 2016-12-31): 6.76 [filed 6.76, split factor 1.0] - FY2017 (ended 2017-12-31): 7.06 [filed 7.06, split factor 1.0] - FY2018 (ended 2018-12-31): 7.67 [filed 7.67, split factor 1.0] - FY2019 (ended 2019-12-31): 11.58 [filed 11.58, split factor 1.0] - FY2020 (ended 2020-12-31): -25.3 [filed -25.3, split factor 1.0] - FY2021 (ended 2021-12-31): -6.1 [filed -6.1, split factor 1.0] - FY2022 (ended 2022-12-31): 2.23 [filed 2.23, split factor 1.0] - FY2023 (ended 2023-12-31): 7.89 [filed 7.89, split factor 1.0] - FY2024 (ended 2024-12-31): 9.45 [filed 9.45, split factor 1.0] - FY2025 (ended 2025-12-31): 10.2 [filed 10.2, split factor 1.0] ## Dividend years (Yahoo history) 2008 ## Insider transactions (SEC Form 4 data set, latest 40) - 2026-08-25 S Nocella Andrew P (officer) 5000 @ 117.00 = 585000 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000168/ - 2026-08-04 S Nocella Andrew P (officer) 3000 @ 132.30 = 396900 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000163/ - 2026-08-03 S Leskinen Michael D. (CFO) 10000 @ 128.19 = 1281900 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000164/ - 2026-07-28 S Hart Brett J (Pres) 30108 @ 120.72 = 3634638 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000157/ - 2026-07-28 S Nocella Andrew P (officer) 4200 @ 120.48 = 506016 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000159/ - 2026-07-24 S Enqvist Torbjorn J (officer) 20000 @ 119.91 = 2398200 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000160/ - 2026-07-21 S KIRBY J SCOTT (CEO) 159321 @ 118.05 = 18807844 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000142/ - 2026-06-16 S KIRBY J SCOTT (CEO) 1078 @ 120.74 = 130158 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000120/ - 2026-06-15 S KIRBY J SCOTT (CEO) 48303 @ 121.30 = 5859154 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000120/ - 2026-05-26 S Gebo Kate (officer) 34669 @ 105.41 = 3654459 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000117/ - 2026-05-26 S Gebo Kate (officer) 5331 @ 105.51 = 562474 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000117/ - 2026-05-01 S Nocella Andrew P (officer) 7000 @ 90.19 = 631330 · https://www.sec.gov/Archives/edgar/data/100517/000010051726000093/ ## Links - sec_filings: https://www.sec.gov/edgar/browse/?CIK=0000100517 - sec_xbrl_companyfacts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000100517.json - sec_form4: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000100517&type=4 - sec_8k: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000100517&type=8-K - yahoo: https://finance.yahoo.com/quote/UAL - stooq: https://stooq.com/q/d/?s=ual.us - morningstar (link only, nothing stored): https://www.morningstar.com/search?query=UAL - finviz (link only, nothing stored): https://finviz.com/quote.ashx?t=UAL - stockanalysis (link only, nothing stored): https://stockanalysis.com/stocks/ual/ - seeking_alpha (link only, nothing stored): https://seekingalpha.com/symbol/UAL - openinsider (link only, nothing stored): http://openinsider.com/search?q=UAL - google_news (link only, nothing stored): https://news.google.com/rss/search?q=UAL+stock 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. Scores are deterministic rule outputs from public filings. fair_value_model is a labelled model estimate from the same filings (method at /fair-value), not an opinion or recommendation.