United Airlines Holdings Inc (UAL)

Return on equity (ROE)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	3,149,000	2,763,000	2,936,000	2,688,000	2,618,000	2,861,000	2,665,000	1,919,000	736,000	-752,000	-1,220,000	-1,983,000	-1,963,000	-3,214,000	-5,529,000	-6,722,000	-7,069,000	-4,531,000	-1,666,000	1,013,000
Total stockholders’ equity	US$ in thousands	12,675,000	11,437,000	10,526,000	9,188,000	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
ROE		24.84%	24.16%	27.89%	29.26%	28.08%	32.32%	34.59%	28.78%	10.67%	-15.35%	-30.78%	-54.72%	-39.03%	-59.18%	-112.74%	-129.12%	-118.61%	-64.70%	-19.56%	10.76%

December 31, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $3,149,000K ÷ $12,675,000K
= 24.84%

United Airlines Holdings Inc's return on equity (ROE) has shown significant fluctuations over the past few years. Starting from March 2020 with an ROE of 10.76%, the ratio turned negative in the following quarters, reaching its lowest point of -129.12% in March 2021. This indicates that during this period, the company was generating net losses that exceeded its equity.

From March 2022 onwards, there was a notable improvement in the ROE figures, with positive values returning to the ratio. The ROE gradually increased and stabilized around the range of 25-35% from March 2023 to December 2024, signifying a positive turnaround in the company's profitability and efficiency in utilizing its equity.

Overall, the trend in United Airlines Holdings Inc's ROE reflects a period of financial challenges and subsequent recovery. The recent positive ROE values suggest that the company has been able to generate healthy returns on the equity invested, indicating improved financial performance and potential for sustainable growth.