United Airlines Holdings, Inc. (UAL) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	65.6B	59.1B	57.1B	53.7B	45.0B
Cost of Revenue	22.5B	21.2B	37.6B	38.5B	34.3B
Gross Profit	43.1B	37.9B	19.4B	15.2B	10.6B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	9.7B	2.1B	2.2B	2.0B	1.5B
General & Admin Expense	7.9B	—	—	—	—
Selling & Marketing Expense	1.8B	2.1B	2.2B	2.0B	1.5B
Other Expenses	28.4B	31.1B	12.1B	9.0B	6.8B
Total Operating Expenses	38.2B	33.2B	14.3B	11.0B	8.3B
Cost and Expenses	60.6B	54.4B	52.0B	49.5B	42.6B
Operating Income (EBIT)	4.9B	4.7B	5.1B	4.2B	2.3B
Non-Operating
Interest Income	577.0M	610.0M	726.0M	827.0M	298.0M
Interest Expense	1.4B	1.2B	1.4B	1.8B	1.7B
Net Interest Income	(776.0M)	(610.0M)	(676.0M)	(947.0M)	(1.4B)
Other Non-Op Income/Expense	(393.0M)	(407.0M)	(928.0M)	(824.0M)	(1.3B)
Non-Operating Income (excl Interest)	(569.0M)	114.0M	(474.0M)	(950.0M)	(326.0M)
EBT (Pre-Tax Income)	4.5B	4.3B	4.2B	3.4B	990.0M
Income Tax Expense	956.0M	953.0M	1.0B	769.0M	253.0M
Bottom Line
Net Income	3.6B	3.4B	3.1B	2.6B	737.0M
Earnings from Cont. Ops	3.6B	3.4B	3.1B	2.6B	737.0M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	3.6B	3.4B	3.1B	2.6B	737.0M
Per Share
Basic EPS	$10.93	$10.21	$9.58	$7.99	$2.26
Diluted EPS	$10.93	$10.22	$9.45	$7.89	$2.23
Revenue Per Share	$200.22	$180.64	$171.26	$161.89	$136.19
Shares
Basic Shares Outstanding	327.4M	327.0M	333.2M	331.8M	330.1M
Diluted Shares Outstanding	327.4M	327.0M	333.2M	331.9M	330.1M
Profitability Metrics
EBITDA	8.5B	7.5B	8.5B	7.8B	5.1B
D&A	3.0B	2.9B	2.9B	2.7B	2.5B
EBIT	5.5B	4.6B	5.6B	5.2B	2.7B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026