Company Valuation: United Airlines Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 14,176 12,325 13,534 31,934 36,200 35,348 - -
Change - -13.06% 9.81% 135.95% 13.36% -2.36% - -
Enterprise Value (EV) 1 36,956 33,211 35,885 46,115 56,054 53,655 52,032 49,788
Change - -10.13% 8.05% 28.51% 21.55% -4.28% -3.03% -4.31%
P/E ratio -7.18x 16.9x 5.23x 10.3x 11x 8.25x 7.37x 6.92x
PBR 2.8x 1.8x 1.47x 2.54x 2.4x 1.82x 1.47x 1.2x
PEG - -0x 0x 0.5x 1.39x 0.3x 0.6x 1.05x
Capitalization / Revenue 0.58x 0.27x 0.25x 0.56x 0.61x 0.55x 0.52x 0.49x
EV / Revenue 1.5x 0.74x 0.67x 0.81x 0.95x 0.84x 0.76x 0.7x
EV / EBITDA -22.1x 6.41x 4.47x 5.54x 6.87x 5.69x 5.06x 4.42x
EV / EBIT -8.42x 13.4x 6.95x 8.85x 11.3x 8.84x 7.69x 6.72x
EV / FCF -924x 26.6x -138x 12x 21.9x 21.7x 18.3x 15.3x
FCF Yield -0.11% 3.75% -0.72% 8.31% 4.56% 4.6% 5.46% 6.54%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -6.1 2.23 7.89 9.45 10.2 13.25 14.82 15.8
Distribution rate - - - - - - - -
Net sales 1 24,634 44,955 53,717 57,063 59,070 63,856 68,119 71,473
EBITDA 1 -1,676 5,185 8,028 8,329 8,163 9,435 10,277 11,269
EBIT 1 -4,389 2,477 5,160 5,208 4,972 6,068 6,766 7,409
Net income 1 -1,964 737 2,618 3,149 3,353 4,313 4,781 4,916
Net Debt 1 22,780 20,886 22,351 14,181 19,854 18,307 16,684 14,440
Reference price 2 43.78 37.70 41.26 97.10 111.82 109.29 109.29 109.29
Nbr of stocks (in thousands) 323,807 326,928 328,017 328,876 323,738 323,430 - -
Announcement Date 19/01/22 17/01/23 22/01/24 21/01/25 20/01/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.25x0.84x5.69x-.--% 35.35B
9.4x0.89x5.99x1.11% 44.82B
12.94x1.68x6.88x1.74% 33.38B
7.35x0.89x3.92x2.14% 27B
62.59x2.52x12.27x0.2% 21.04B
1833.85x1.91x9.85x-.--% 19.99B
111.78x1.91x9.14x0.07% 18.53B
139.27x2.18x10.01x-.--% 18.49B
24.77x1.42x6.79x3.05% 17.34B
11.14x1.41x4.96x2.97% 17.01B
Average 222.13x 1.56x 7.55x 1.13% 25.3B
Weighted average by Cap. 176.28x 1.44x 7.18x 1.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation United Airlines Holdings, Inc.