United Airlines Holdings Inc (UAL)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 71,104,000 | 67,358,000 | 68,175,000 | 59,548,000 | 52,611,000 |
| Total stockholders’ equity | US$ in thousands | 9,324,000 | 6,896,000 | 5,029,000 | 5,960,000 | 11,531,000 |
| Financial leverage ratio | 7.63 | 9.77 | 13.56 | 9.99 | 4.56 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $71,104,000K ÷ $9,324,000K
= 7.63
The financial leverage ratio of United Airlines Holdings Inc has exhibited fluctuations over the past five years. The ratio decreased from 4.56 in 2019 to 9.99 in 2020, indicating a significant increase in financial leverage. However, in 2021, the ratio surged to 13.56, reflecting a substantial rise in leverage. This trend reversed in 2022 as the ratio decreased to 9.77, suggesting a reduction in financial risk. By the end of 2023, the ratio further declined to 7.63, indicating a decrease in the company's reliance on debt financing compared to the prior year. Overall, the financial leverage ratio of United Airlines Holdings Inc has shown variability, potentially reflecting changes in the company's capital structure and debt management strategies over the years.
Peer comparison
Dec 31, 2023