United Airlines Holdings, Inc. (UAL)

NASDAQ: UAL · Real-Time Price · USD

116.43

+3.56 (3.15%)

At close: Feb 26, 2026, 4:00 PM EST

115.60

-0.83 (-0.71%)

After-hours: Feb 26, 2026, 5:48 PM EST

United Airlines Holdings Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	5,942	6,730	9,354	9,370	8,769	8,812	10,864	8,401	6,058	7,478	9,605	7,634	7,166	11,258	16,885	18,468	18,283	19,256	20,838	12,666
Short-Term Investments	6,298	6,599	6,262	5,960	5,706	5,352	4,384	5,591	8,330	9,608	9,533	9,522	9,248	7,437	3,190	211	123	166	230	309
Cash & Short-Term Investments	12,240	13,329	15,616	15,330	14,475	14,164	15,248	13,992	14,388	17,086	19,138	17,156	16,414	18,695	20,075	18,679	18,406	19,422	21,068	12,975
Cash Growth	-15.44%	-5.90%	2.41%	9.56%	0.60%	-17.10%	-20.33%	-18.44%	-12.34%	-8.61%	-4.67%	-8.15%	-10.82%	-3.74%	-4.71%	43.96%	57.55%	41.75%	182.30%	148.52%
Receivables	2,391	2,433	2,286	2,288	2,163	2,042	2,376	2,259	1,898	2,193	2,004	2,274	1,801	2,034	2,217	2,062	1,663	1,709	1,793	1,389
Inventory	1,556	1,588	1,547	1,601	1,572	1,639	1,680	1,675	1,561	1,513	1,290	1,196	1,109	1,116	1,153	1,068	983	955	912	918
Prepaid Expenses	671	744	801	728	662	690	669	730	609	728	836	787	689	783	883	762	745	717	646	483
Restricted Cash	-	-	8	200	11	36	30	40	31	392	38	173	45	61	43	41	37	254	254	254
Other Current Assets	-1	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Current Assets	16,857	18,094	20,258	20,148	18,883	18,571	20,003	18,696	18,487	21,912	23,306	21,586	20,058	22,689	24,371	22,612	21,834	23,057	24,673	16,019
Property, Plant & Equipment	47,573	49,789	48,413	47,522	43,296	42,048	41,011	40,807	40,179	38,956	38,021	36,863	35,517	34,254	33,955	34,200	34,504	34,646	34,772	34,992
Long-Term Investments	1,191	1,101	1,127	1,072	1,101	1,209	1,337	1,353	1,636	1,404	1,403	1,311	1,373	1,285	1,297	1,401	1,420	1,336	1,407	991
Goodwill	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527	4,527
Other Intangible Assets	2,655	2,662	2,669	2,676	2,683	2,691	2,699	2,717	2,725	2,735	2,744	2,753	2,762	2,772	2,782	2,792	2,803	2,815	2,827	2,840
Long-Term Deferred Tax Assets	-	-	-	-	-	-	-	-	-	-	-	159	91	701	907	1,032	659	519	647	520
Other Long-Term Assets	3,645	140	169	166	3,593	3,594	3,677	3,802	3,550	3,619	3,340	3,218	3,030	2,740	2,542	2,474	2,428	2,394	2,196	1,773
Total Assets	76,448	76,313	77,163	76,111	74,083	72,640	73,254	71,902	71,104	73,153	73,341	70,417	67,358	68,968	70,381	69,038	68,175	69,294	71,049	61,662
Accounts Payable	4,567	4,636	4,920	4,694	4,193	4,008	4,478	4,344	3,835	4,206	4,172	3,858	3,395	3,534	3,755	2,966	2,562	2,199	2,218	1,838
Accrued Expenses	3,900	3,555	3,211	2,394	3,289	2,802	2,383	2,128	2,940	3,815	3,223	1,970	1,971	1,841	1,943	2,008	2,121	2,207	2,228	2,267
Current Portion of Long-Term Debt	4,330	4,621	6,194	3,265	3,453	3,348	4,825	3,958	4,247	3,693	3,615	3,206	2,934	2,955	3,012	2,994	3,836	2,269	1,881	1,783
Current Portion of Leases	727	563	541	506	467	578	658	737	576	869	796	714	665	1,524	1,535	1,787	632	685	727	802
Current Unearned Revenue	11,852	12,980	13,216	13,950	10,964	11,791	12,617	12,687	9,799	11,361	12,943	12,990	10,248	11,389	12,521	11,420	8,593	8,492	10,191	6,753
Other Current Liabilities	757	764	910	989	948	838	894	910	806	812	826	897	779	746	678	613	560	1,083	819	724
Total Current Liabilities	26,133	27,119	28,992	25,798	23,314	23,365	25,855	24,764	22,203	24,756	25,575	23,635	19,992	21,989	23,444	21,788	18,304	16,935	18,064	14,167
Long-Term Debt	20,184	20,807	20,885	24,398	25,203	24,912	24,263	23,059	27,413	27,580	28,181	27,460	29,127	28,490	29,175	29,665	31,224	31,520	32,303	25,849
Long-Term Leases	5,795	5,331	5,166	4,756	4,510	4,521	4,508	7,090	4,503	4,564	4,752	5,804	4,574	5,407	5,698	5,852	5,371	6,819	6,853	6,793
Long-Term Unearned Revenue	4,056	4,060	4,114	4,118	4,038	4,057	4,101	4,193	4,048	4,107	4,183	4,028	3,982	3,936	3,905	3,901	4,043	4,088	4,086	4,858
Pension & Post-Retirement Benefits	1,058	974	1,199	1,252	1,233	1,624	1,610	1,610	1,605	1,421	1,445	1,436	1,418	2,894	2,898	2,915	2,920	3,141	3,489	3,491
Long-Term Deferred Tax Liabilities	2,463	2,206	1,919	1,624	1,580	1,224	951	545	594	472	133	-	-	-	-	-	-	-	-	-
Other Long-Term Liabilities	1,477	1,507	1,515	1,549	1,530	1,500	1,440	1,453	1,414	1,400	1,367	1,386	1,369	1,354	1,297	1,293	1,284	1,360	1,350	1,298
Total Liabilities	61,166	62,004	63,790	63,495	61,408	61,203	62,728	62,714	61,780	64,300	65,636	63,749	60,462	64,070	66,417	65,414	63,146	63,863	66,145	56,456
Common Stock	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4
Additional Paid-In Capital	8,911	8,878	8,855	8,813	8,980	8,945	9,001	8,973	8,992	8,968	8,945	8,926	8,986	8,970	8,970	8,953	9,156	9,094	9,042	8,923
Retained Earnings	10,092	9,049	8,110	7,137	6,880	5,896	4,986	3,664	3,831	3,232	2,095	1,020	1,265	421	-515	-844	625	1,271	804	1,239
Treasury Stock	-3,773	-3,745	-3,737	-3,502	-3,377	-3,299	-3,368	-3,372	-3,441	-3,442	-3,442	-3,443	-3,534	-3,533	-3,551	-3,552	-3,814	-3,814	-3,832	-3,834
Comprehensive Income & Other	48	123	141	164	188	-109	-97	-81	-62	91	103	161	175	-964	-944	-937	-942	-1,124	-1,114	-1,126
Shareholders' Equity	15,282	14,309	13,373	12,616	12,675	11,437	10,526	9,188	9,324	8,853	7,705	6,668	6,896	4,898	3,964	3,624	5,029	5,431	4,904	5,206
Total Liabilities & Equity	76,448	76,313	77,163	76,111	74,083	72,640	73,254	71,902	71,104	73,153	73,341	70,417	67,358	68,968	70,381	69,038	68,175	69,294	71,049	61,662
Total Debt	31,036	31,322	32,786	32,925	33,633	33,359	34,254	34,844	36,739	36,706	37,344	37,184	37,300	38,376	39,420	40,298	41,063	41,293	41,764	35,227
Net Cash (Debt)	-18,796	-17,993	-17,170	-17,595	-19,158	-19,195	-19,006	-20,852	-22,351	-19,620	-18,206	-20,028	-20,886	-19,681	-19,345	-21,619	-22,657	-21,871	-20,696	-22,252
Net Cash Per Share	-57.48	-55.04	-52.48	-52.84	-57.27	-57.69	-56.92	-63.52	-67.46	-59.03	-54.92	-61.17	-63.21	-59.73	-58.57	-66.52	-69.97	-66.48	-63.96	-70.28
Filing Date Shares Outstanding	323.43	323.74	323.73	326.6	327.34	328.88	328.83	328.8	328.03	328.01	327.98	327.97	327.09	326.93	326.74	326.73	324.63	323.81	323.61	323.58
Total Common Shares Outstanding	323.47	323.74	323.8	327.49	327.9	328.85	328.83	328.8	328.02	328.01	327.98	327.97	326.93	326.93	326.74	326.73	323.81	323.81	323.61	323.58
Working Capital	-9,276	-9,025	-8,734	-5,650	-4,431	-4,794	-5,852	-6,068	-3,716	-2,844	-2,269	-2,049	66	700	927	824	3,530	6,122	6,609	1,852
Book Value Per Share	47.24	44.20	41.30	38.52	38.66	34.78	32.01	27.94	28.43	26.99	23.49	20.33	21.09	14.98	12.13	11.09	15.53	16.77	15.15	16.09
Tangible Book Value	8,100	7,120	6,177	5,413	5,465	4,219	3,300	1,944	2,072	1,591	434	-612	-393	-2,401	-3,345	-3,695	-2,301	-1,911	-2,450	-2,161
Tangible Book Value Per Share	25.04	21.99	19.08	16.53	16.67	12.83	10.04	5.91	6.32	4.85	1.32	-1.87	-1.20	-7.34	-10.24	-11.31	-7.11	-5.90	-7.57	-6.68
Machinery	56,877	-	-	-	52,696	50,933	49,814	49,277	48,448	46,938	45,784	44,298	42,775	40,867	40,044	39,733	39,584	39,312	39,109	38,851

Updated Jan 20, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q