United Airlines Holdings Inc (UAL)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 25,057,000 | 28,283,000 | 30,361,000 | 24,836,000 | 13,145,000 |
| Total stockholders’ equity | US$ in thousands | 9,324,000 | 6,896,000 | 5,029,000 | 5,960,000 | 11,531,000 |
| Debt-to-equity ratio | 2.69 | 4.10 | 6.04 | 4.17 | 1.14 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $25,057,000K ÷ $9,324,000K
= 2.69
The debt-to-equity ratio of United Airlines Holdings Inc has displayed fluctuations over the past five years, as shown in the data table. In December 2019, the ratio was 1.29, indicating lower debt reliance compared to equity. Subsequently, the ratio increased to 4.56 in December 2020, decreased to 6.69 in December 2021, and then decreased further to 4.56 in December 2022.
The most recent ratio as of December 2023 stands at 3.15, suggesting that the company's level of debt has decreased relative to equity compared to the previous year, but it remains relatively high. The trend indicates varying levels of financial leverage in the company's capital structure over the years, with a peak in 2021 at 6.69. It will be important for United Airlines Holdings Inc to closely monitor and manage its debt levels to ensure its financial stability and solvency in the future.
Peer comparison
Dec 31, 2023