United Airlines Holdings Inc (UAL)

Pretax margin

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before tax but after interest (EBT) US$ in thousands 4,306,000 4,168,000 3,387,000 990,000 -2,557,000
Revenue US$ in thousands 59,070,000 57,063,000 53,717,000 44,955,000 24,634,000
Pretax margin 7.29% 7.30% 6.31% 2.20% -10.38%

December 31, 2025 calculation

Pretax margin = EBT ÷ Revenue
= $4,306,000K ÷ $59,070,000K
= 7.29%