United Airlines Holdings Inc (UAL)
Return on total capital
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 4,599,000 | 5,570,000 | 5,161,000 | 2,663,000 | -980,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 15,282,000 | 12,675,000 | 9,324,000 | 6,896,000 | 5,029,000 |
| Return on total capital | 30.09% | 43.94% | 55.35% | 38.62% | -19.49% |
December 31, 2025 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $4,599,000K ÷ ($—K + $15,282,000K)
= 30.09%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
United Airlines Holdings Inc
UAL
30.09%
Alaska Air Group Inc
ALK
—
Delta Air Lines Inc
DAL
26.93%