United Airlines Holdings annual debt-to-assets ratio
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United Airlines Holdings Debt-to-Assets Ratio Growth & History (UAL)
United Airlines Holdings's debt-to-assets ratio was 0.36 for fiscal 2025.
View full United Airlines Holdings company overviewUnited Airlines Holdings annual debt-to-assets ratio history
| Fiscal year | Period ended | Debt-to-assets ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.36 | −0.04 | −10.00% |
| 2024 | 2024-12-31 | 0.40 | −0.08 | −16.70% |
| 2023 | 2023-12-31 | 0.48 | −0.06 | −10.36% |
| 2022 | 2022-12-31 | 0.54 | −0.04 | −6.33% |
| 2021 | 2021-12-31 | 0.58 | 0.03 | +4.99% |
| 2020 | 2020-12-31 | 0.55 | 0.16 | +41.49% |
| 2019 | 2019-12-31 | 0.39 | −0.01 | −3.70% |
| 2018 | 2018-12-31 | 0.40 | 0.06 | +18.76% |
| 2017 | 2017-12-31 | 0.34 | 0.05 | +16.55% |
| 2016 | 2016-12-31 | 0.29 | 0.00 | +1.33% |
| 2015 | 2015-12-31 | 0.29 | −0.04 | −11.85% |
| 2014 | 2014-12-31 | 0.33 | −0.01 | −3.15% |
| 2013 | 2013-12-31 | 0.34 | −0.01 | −3.66% |
| 2012 | 2012-12-31 | 0.35 | 0.01 | +4.37% |
| 2011 | 2011-12-31 | 0.34 | −0.05 | −12.28% |
| 2010 | 2010-12-31 | 0.38 | −0.08 | −16.42% |
| 2009 | 2009-12-31 | 0.46 | — | — |
United Airlines Holdings quarterly debt-to-assets ratio
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| Fiscal quarter | Period ended | Debt-to-assets ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.37 | 0.03 | +8.08% |
| Q1 2026 | 2026-03-31 | 0.35 | −0.03 | −8.95% |
| Q4 2025 | 2025-12-31 | 0.36 | −0.04 | −10.00% |
| Q3 2025 | 2025-09-30 | 0.35 | −0.07 | −16.90% |
| Q2 2025 | 2025-06-30 | 0.34 | −0.09 | −20.14% |
| Q1 2025 | 2025-03-31 | 0.39 | −0.06 | −13.21% |
| Q4 2024 | 2024-12-31 | 0.40 | −0.08 | −16.70% |
| Q3 2024 | 2024-09-30 | 0.42 | −0.06 | −12.03% |
| Q2 2024 | 2024-06-30 | 0.43 | −0.06 | −11.70% |
| Q1 2024 | 2024-03-31 | 0.45 | −0.06 | −12.23% |
| Q4 2023 | 2023-12-31 | 0.48 | −0.06 | −10.36% |
| Q3 2023 | 2023-09-30 | 0.48 | −0.06 | −10.73% |
| Q2 2023 | 2023-06-30 | 0.49 | −0.05 | −9.51% |
| Q1 2023 | 2023-03-31 | 0.51 | −0.05 | −8.53% |
| Q4 2022 | 2022-12-31 | 0.54 | −0.04 | −6.33% |
| Q3 2022 | 2022-09-30 | 0.54 | −0.04 | −6.85% |
| Q2 2022 | 2022-06-30 | 0.54 | −0.02 | −4.27% |
| Q1 2022 | 2022-03-31 | 0.56 | 0.01 | +2.46% |
| Q4 2021 | 2021-12-31 | 0.58 | 0.03 | +4.99% |
| Q3 2021 | 2021-09-30 | 0.58 | 0.04 | +7.18% |
| Q2 2021 | 2021-06-30 | 0.56 | 0.11 | +24.42% |
| Q1 2021 | 2021-03-31 | 0.55 | 0.10 | +23.61% |
| Q4 2020 | 2020-12-31 | 0.55 | 0.16 | +41.49% |
| Q3 2020 | 2020-09-30 | 0.54 | 0.15 | +39.19% |
| Q2 2020 | 2020-06-30 | 0.45 | 0.07 | +17.15% |
| Q1 2020 | 2020-03-31 | 0.44 | 0.04 | +11.32% |
| Q4 2019 | 2019-12-31 | 0.39 | −0.01 | −3.70% |
| Q3 2019 | 2019-09-30 | 0.39 | 0.07 | +20.30% |
| Q2 2019 | 2019-06-30 | 0.39 | 0.06 | +19.26% |
| Q1 2019 | 2019-03-31 | 0.40 | 0.06 | +16.69% |
| Q4 2018 | 2018-12-31 | 0.40 | 0.06 | +18.76% |
| Q3 2018 | 2018-09-30 | 0.32 | −0.01 | −2.09% |
| Q2 2018 | 2018-06-30 | 0.32 | 0.01 | +4.30% |
| Q1 2018 | 2018-03-31 | 0.34 | 0.03 | +9.70% |
| Q4 2017 | 2017-12-31 | 0.34 | 0.05 | +16.55% |
| Q3 2017 | 2017-09-30 | 0.33 | 0.04 | +15.30% |
| Q2 2017 | 2017-06-30 | 0.31 | 0.03 | +10.32% |
| Q1 2017 | 2017-03-31 | 0.31 | 0.02 | +7.80% |
| Q4 2016 | 2016-12-31 | 0.29 | 0.00 | +1.33% |
| Q3 2016 | 2016-09-30 | 0.28 | −0.01 | −1.86% |
| Q2 2016 | 2016-06-30 | 0.28 | −0.01 | −4.78% |
| Q1 2016 | 2016-03-31 | 0.29 | −0.03 | −8.53% |
| Q4 2015 | 2015-12-31 | 0.29 | −0.04 | −11.85% |
| Q3 2015 | 2015-09-30 | 0.29 | −0.03 | −9.01% |
| Q2 2015 | 2015-06-30 | 0.30 | −0.02 | −7.58% |
| Q1 2015 | 2015-03-31 | 0.31 | −0.01 | −3.60% |
| Q4 2014 | 2014-12-31 | 0.33 | −0.01 | −3.15% |
| Q3 2014 | 2014-09-30 | 0.32 | −0.01 | −1.69% |
| Q2 2014 | 2014-06-30 | 0.32 | 0.00 | +0.34% |
| Q1 2014 | 2014-03-31 | 0.33 | −0.00 | −1.11% |
| Q4 2013 | 2013-12-31 | 0.34 | −0.01 | −3.66% |
| Q3 2013 | 2013-09-30 | 0.32 | 0.00 | +0.19% |
| Q2 2013 | 2013-06-30 | 0.32 | −0.00 | −0.72% |
| Q1 2013 | 2013-03-31 | 0.33 | 0.00 | +1.27% |
| Q4 2012 | 2012-12-31 | 0.35 | 0.01 | +4.37% |
| Q3 2012 | 2012-09-30 | 0.32 | −0.01 | −4.12% |
| Q2 2012 | 2012-06-30 | 0.32 | −0.02 | −6.10% |
| Q1 2012 | 2012-03-31 | 0.33 | −0.03 | −9.48% |
| Q4 2011 | 2011-12-31 | 0.34 | −0.05 | −12.28% |
| Q3 2011 | 2011-09-30 | 0.34 | −0.10 | −23.58% |
| Q2 2011 | 2011-06-30 | 0.34 | −0.11 | −24.82% |
| Q1 2011 | 2011-03-31 | 0.36 | — | — |
| Q4 2010 | 2010-12-31 | 0.38 | −0.08 | −16.42% |
| Q3 2010 | 2010-09-30 | 0.44 | — | — |
| Q2 2010 | 2010-06-30 | 0.46 | — | — |
| Q4 2009 | 2009-12-31 | 0.46 | — | — |
United Airlines Holdings debt-to-assets ratio trends
Over the last five fiscal years, United Airlines Holdings's debt-to-assets ratio decreased from 0.55 to 0.36, a change of −0.19. The latest reported quarter, Q2 2026, shows 0.37.
About the metric
What the debt-to-assets ratio means
The debt-to-assets ratio shows the portion of a company’s reported assets financed with interest-bearing debt. It is a leverage measure and should not be confused with total liabilities divided by assets.
Calculation and source
How debt-to-assets is calculated
TickerStat calculates debt-to-assets as total interest-bearing debt divided by total assets at the same reporting-period end. Periods with missing debt or non-positive assets are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review United Airlines Holdings source filings ↗Community posts
United’s revenue rises 17% despite a sharp increase in fuel costs
United Airlines ($UAL) reported quarterly revenue of $17.9 billion, up 17%, and a 16% increase in unit revenue. Earnings per share were $3.14, or $2.54 on an adjusted basis. Pretax profit reached $1.3 billion, equivalent to a 7.3% margin, w ...
