United Airlines Holdings annual ebitda margin
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2025
United Airlines Holdings EBITDA Margin Growth & History (UAL)
United Airlines Holdings's ebitda margin was 12.95% for fiscal 2025.
View full United Airlines Holdings company overviewUnited Airlines Holdings annual ebitda margin history
| Fiscal year | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 12.95% | −1.11 pp |
| 2024 | 2024-12-31 | 14.06% | +1.25 pp |
| 2023 | 2023-12-31 | 12.81% | +2.15 pp |
| 2022 | 2022-12-31 | 10.66% | +4.72 pp |
| 2021 | 2021-12-31 | 5.94% | +31.15 pp |
| 2020 | 2020-12-31 | −25.21% | −40.44 pp |
| 2019 | 2019-12-31 | 15.23% | +2.17 pp |
| 2018 | 2018-12-31 | 13.06% | −2.06 pp |
| 2017 | 2017-12-31 | 15.12% | −2.17 pp |
| 2016 | 2016-12-31 | 17.29% | −1.16 pp |
| 2015 | 2015-12-31 | 18.45% | +8.03 pp |
| 2014 | 2014-12-31 | 10.42% | +2.74 pp |
| 2013 | 2013-12-31 | 7.68% | +3.47 pp |
| 2012 | 2012-12-31 | 4.20% | −4.88 pp |
| 2011 | 2011-12-31 | 9.08% | +0.27 pp |
| 2010 | 2010-12-31 | 8.81% | +4.18 pp |
| 2009 | 2009-12-31 | 4.63% | +21.92 pp |
| 2008 | 2008-12-31 | −17.29% | — |
United Airlines Holdings quarterly ebitda margin
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| Fiscal quarter | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 10.51% | −2.99 pp |
| Q1 2026 | 2026-03-31 | 12.00% | +1.90 pp |
| Q4 2025 | 2025-12-31 | 13.87% | −1.53 pp |
| Q3 2025 | 2025-09-30 | 13.96% | −1.59 pp |
| Q2 2025 | 2025-06-30 | 13.51% | −4.16 pp |
| Q1 2025 | 2025-03-31 | 10.10% | +3.66 pp |
| Q4 2024 | 2024-12-31 | 15.39% | +3.05 pp |
| Q3 2024 | 2024-09-30 | 15.54% | −1.04 pp |
| Q2 2024 | 2024-06-30 | 17.67% | +2.25 pp |
| Q1 2024 | 2024-03-31 | 6.44% | +1.08 pp |
| Q4 2023 | 2023-12-31 | 12.34% | −3.79 pp |
| Q3 2023 | 2023-09-30 | 16.58% | +0.52 pp |
| Q2 2023 | 2023-06-30 | 15.42% | +3.12 pp |
| Q1 2023 | 2023-03-31 | 5.35% | +15.47 pp |
| Q4 2022 | 2022-12-31 | 16.14% | +13.56 pp |
| Q3 2022 | 2022-09-30 | 16.06% | −5.36 pp |
| Q2 2022 | 2022-06-30 | 12.29% | +5.90 pp |
| Q1 2022 | 2022-03-31 | −10.11% | +13.42 pp |
| Q4 2021 | 2021-12-31 | 2.58% | +46.71 pp |
| Q3 2021 | 2021-09-30 | 21.42% | +61.15 pp |
| Q2 2021 | 2021-06-30 | 6.40% | +75.48 pp |
| Q1 2021 | 2021-03-31 | −23.53% | −19.06 pp |
| Q4 2020 | 2020-12-31 | −44.14% | −57.61 pp |
| Q3 2020 | 2020-09-30 | −39.73% | −57.73 pp |
| Q2 2020 | 2020-06-30 | −69.08% | −86.91 pp |
| Q1 2020 | 2020-03-31 | −4.47% | −15.34 pp |
| Q4 2019 | 2019-12-31 | 13.47% | +2.10 pp |
| Q3 2019 | 2019-09-30 | 18.00% | +2.26 pp |
| Q2 2019 | 2019-06-30 | 17.82% | +2.20 pp |
| Q1 2019 | 2019-03-31 | 10.87% | +2.16 pp |
| Q4 2018 | 2018-12-31 | 11.37% | −1.42 pp |
| Q3 2018 | 2018-09-30 | 15.74% | −1.37 pp |
| Q2 2018 | 2018-06-30 | 15.62% | −4.10 pp |
| Q1 2018 | 2018-03-31 | 8.70% | −1.24 pp |
| Q4 2017 | 2017-12-31 | 12.79% | −3.94 pp |
| Q3 2017 | 2017-09-30 | 17.11% | −4.34 pp |
| Q2 2017 | 2017-06-30 | 19.71% | +3.21 pp |
| Q1 2017 | 2017-03-31 | 9.95% | −3.82 pp |
| Q4 2016 | 2016-12-31 | 16.74% | −0.49 pp |
| Q3 2016 | 2016-09-30 | 21.46% | −1.52 pp |
| Q2 2016 | 2016-06-30 | 16.51% | −2.56 pp |
| Q1 2016 | 2016-03-31 | 13.76% | +0.17 pp |
| Q4 2015 | 2015-12-31 | 17.23% | +5.89 pp |
| Q3 2015 | 2015-09-30 | 22.98% | +7.71 pp |
| Q2 2015 | 2015-06-30 | 19.06% | +6.26 pp |
| Q1 2015 | 2015-03-31 | 13.59% | +12.90 pp |
| Q4 2014 | 2014-12-31 | 11.34% | +4.31 pp |
| Q3 2014 | 2014-09-30 | 15.27% | +6.05 pp |
| Q2 2014 | 2014-06-30 | 12.81% | +0.86 pp |
| Q1 2014 | 2014-03-31 | 0.69% | −0.96 pp |
| Q4 2013 | 2013-12-31 | 7.03% | +7.95 pp |
| Q3 2013 | 2013-09-30 | 9.22% | +3.38 pp |
| Q2 2013 | 2013-06-30 | 11.95% | +2.36 pp |
| Q1 2013 | 2013-03-31 | 1.65% | +0.38 pp |
| Q4 2012 | 2012-12-31 | −0.92% | −5.79 pp |
| Q3 2012 | 2012-09-30 | 5.84% | −7.13 pp |
| Q2 2012 | 2012-06-30 | 9.59% | −2.57 pp |
| Q1 2012 | 2012-03-31 | 1.27% | −3.88 pp |
| Q4 2011 | 2011-12-31 | 4.87% | +1.08 pp |
| Q3 2011 | 2011-09-30 | 12.97% | −1.30 pp |
| Q2 2011 | 2011-06-30 | 12.16% | −0.65 pp |
| Q1 2011 | 2011-03-31 | 5.15% | −1.83 pp |
| Q4 2010 | 2010-12-31 | 3.79% | — |
| Q3 2010 | 2010-09-30 | 14.27% | +7.32 pp |
| Q2 2010 | 2010-06-30 | 12.81% | +4.62 pp |
| Q1 2010 | 2010-03-31 | 6.97% | — |
| Q3 2009 | 2009-09-30 | 6.95% | — |
| Q2 2009 | 2009-06-30 | 8.19% | — |
United Airlines Holdings ebitda margin trends
Over the last five fiscal years, United Airlines Holdings's ebitda margin increased from −25.21% to 12.95%, a change of +38.16 percentage points. The latest reported quarter, Q2 2026, shows 10.51%.
About the metric
What EBITDA margin means
EBITDA margin measures EBITDA as a percentage of revenue. It can help compare operating profitability over time, but it excludes capital intensity, financing costs, taxes, and other items and is generally unsuitable for financial companies.
Calculation and source
How EBITDA margin is calculated
TickerStat calculates EBITDA margin as EBITDA divided by positive reported revenue for the same fiscal period. Changes are shown in percentage points. 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 ...
