United Airlines Holdings Inc (UAL)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $12,675,000K
= 0.00

The debt-to-equity ratio of United Airlines Holdings Inc has been consistently reported as 0.00 for each period from March 31, 2020, to December 31, 2024. This indicates that the company has not had any reported debt during this time and has been financing its operations primarily through equity. A debt-to-equity ratio of 0.00 typically suggests that a company is not relying on external borrowing to finance its business activities, which can be viewed positively by investors and creditors as it signifies lower financial risk. However, it is important to note that a very low debt-to-equity ratio may also indicate underutilization of debt as a source of capital, which could potentially limit the company's growth opportunities.