United Airlines Holdings Inc (UAL)
Return on total capital
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 4,599,000 | 4,836,000 | 4,915,000 | 5,463,000 | 5,570,000 | 5,148,000 | 5,466,000 | 5,198,000 | 5,161,000 | 4,911,000 | 4,562,000 | 3,581,000 | 2,037,000 | 647,000 | 100,000 | -917,000 | -980,000 | -2,604,000 | -5,641,000 | -7,305,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 15,282,000 | 14,309,000 | 13,374,000 | 12,616,000 | 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 |
| Return on total capital | 30.09% | 33.80% | 36.75% | 43.30% | 43.94% | 45.01% | 51.93% | 56.57% | 55.35% | 55.47% | 59.21% | 53.70% | 29.54% | 13.21% | 2.52% | -25.30% | -19.49% | -47.95% | -115.03% | -140.32% |
December 31, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (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
31.71%