United Airlines Holdings Inc (UAL)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	2,618,000	2,861,000	2,666,000	1,920,000	737,000	-752,000	-1,221,000	-1,984,000	-1,964,000	-3,215,000	-5,529,000	-6,722,000	-7,069,000	-4,531,000	-1,666,000	1,013,000	3,009,000	2,829,000	2,638,000	2,269,000
Total stockholders’ equity	US$ in thousands	9,324,000	8,853,000	7,705,000	6,668,000	6,896,000	4,898,000	3,964,000	3,624,000	5,029,000	5,431,000	4,904,000	5,206,000	5,960,000	7,003,000	8,517,000	9,418,000	11,531,000	11,301,000	10,320,000	9,802,000
ROE		28.08%	32.32%	34.60%	28.79%	10.69%	-15.35%	-30.80%	-54.75%	-39.05%	-59.20%	-112.74%	-129.12%	-118.61%	-64.70%	-19.56%	10.76%	26.09%	25.03%	25.56%	23.15%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $2,618,000K ÷ $9,324,000K
= 28.08%

United Airlines Holdings Inc's return on equity (ROE) has shown a fluctuating trend over the past eight quarters. In Q2 2023, the ROE reached its peak at 34.60%, demonstrating efficient utilization of shareholders' equity to generate profits. This was a significant improvement from the previous quarter, Q1 2023, which also showed a relatively strong ROE of 28.79%.

However, it is noteworthy that the ROE had been considerably lower in the quarters prior to Q1 2023, with negative returns in Q3 2022 and Q2 2022 at -15.35% and -30.80% respectively. This indicates that United Airlines faced challenges in profitability and efficiency during that period.

The recent positive trend in ROE from Q1 2023 to Q2 2023 suggests that the company may have undertaken strategic initiatives to enhance profitability and effectively manage its resources. Investors and stakeholders may find the improvement encouraging, although it is important to monitor future quarters to assess the sustainability of this positive performance.