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United Airlines Valuation Multiples
Discover revenue and EBITDA valuation multiples for United Airlines and similar public comparables like Ryanair, IAG, Southwest Airlines, IndiGo and more.
United Airlines Overview
About United Airlines
Chicago-based United Airlines is a major US network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel, especially across the Pacific, than its large US peers.
Founded
1968
HQ
Employees
113.2K
Website
Sectors
Financials (LTM)
EV
$52B
United Airlines Financials
United Airlines reported last 12-month revenue of $61B and EBITDA of $8B.
In the same LTM period, United Airlines generated $8B in EBITDA and $3B in net income.
Revenue (LTM)
United Airlines P&L
In the most recent fiscal year, United Airlines reported revenue of $59B and EBITDA of $8B.
United Airlines expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $61B | XXX | $59B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $17B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 29% | XXX | XXX | XXX |
| EBITDA | $8B | XXX | $8B | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 14% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 8% | XXX | XXX | XXX |
| Net Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 6% | XXX | XXX | XXX |
| Net Debt | — | — | $19B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
United Airlines Stock Performance
United Airlines has current market cap of $33B, and enterprise value of $52B.
Market Cap Evolution
United Airlines' stock price is $101.80.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $52B | $33B | 0.0% | XXX | XXX | XXX | $10.75 |
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Start Free TrialUnited Airlines Valuation Multiples
United Airlines trades at 0.8x EV/Revenue multiple, and 6.5x EV/EBITDA.
EV / Revenue (LTM)
United Airlines Financial Valuation Multiples
As of April 20, 2026, United Airlines has market cap of $33B and EV of $52B.
Equity research analysts estimate United Airlines' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
United Airlines has a P/E ratio of 9.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $33B | XXX | $33B | XXX | XXX | XXX |
| EV (current) | $52B | XXX | $52B | XXX | XXX | XXX |
| EV/Revenue | 0.8x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 6.5x | XXX | 6.2x | XXX | XXX | XXX |
| EV/EBIT | 10.7x | XXX | 10.4x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 3.0x | XXX | XXX | XXX |
| P/E | 9.8x | XXX | 9.5x | XXX | XXX | XXX |
| EV/FCF | 21.8x | XXX | 19.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified United Airlines Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
United Airlines Margins & Growth Rates
United Airlines' revenue in the last 12 month grew by 10%.
United Airlines' revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.1M for the same period.
United Airlines' rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
United Airlines' rule of X is 41% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
United Airlines Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 10% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 14% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | (9%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 23% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 41% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 3% | XXX | 4% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 20% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
United Airlines Public Comps
See public comps and valuation multiples for other Airlines comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| United Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| Ryanair | XXX | XXX | XXX | XXX | XXX | XXX |
| IAG | XXX | XXX | XXX | XXX | XXX | XXX |
| Southwest Airlines | XXX | XXX | XXX | XXX | XXX | XXX |
| IndiGo | XXX | XXX | XXX | XXX | XXX | XXX |
| Delta Air Lines | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
United Airlines M&A Activity
United Airlines acquired XXX companies to date.
Last acquisition by United Airlines was on XXXXXXXX, XXXXX. United Airlines acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by United Airlines
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialUnited Airlines Investment Activity
United Airlines invested in XXX companies to date.
United Airlines made its latest investment on XXXXXXXX, XXXXX. United Airlines invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by United Airlines
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout United Airlines
| When was United Airlines founded? | United Airlines was founded in 1968. |
| Where is United Airlines headquartered? | United Airlines is headquartered in United States. |
| How many employees does United Airlines have? | As of today, United Airlines has over 113K employees. |
| Who is the CEO of United Airlines? | United Airlines' CEO is J. Scott Kirby. |
| Is United Airlines publicly listed? | Yes, United Airlines is a public company listed on Nasdaq. |
| What is the stock symbol of United Airlines? | United Airlines trades under UAL ticker. |
| When did United Airlines go public? | United Airlines went public in 1969. |
| Who are competitors of United Airlines? | United Airlines main competitors are Ryanair, IAG, Southwest Airlines, IndiGo. |
| What is the current market cap of United Airlines? | United Airlines' current market cap is $33B. |
| What is the current revenue of United Airlines? | United Airlines' last 12 months revenue is $61B. |
| What is the current revenue growth of United Airlines? | United Airlines revenue growth (NTM/LTM) is 10%. |
| What is the current EV/Revenue multiple of United Airlines? | Current revenue multiple of United Airlines is 0.8x. |
| Is United Airlines profitable? | Yes, United Airlines is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of United Airlines? | United Airlines' last 12 months EBITDA is $8B. |
| What is United Airlines' EBITDA margin? | United Airlines' last 12 months EBITDA margin is 13%. |
| What is the current EV/EBITDA multiple of United Airlines? | Current EBITDA multiple of United Airlines is 6.5x. |
| What is the current FCF of United Airlines? | United Airlines' last 12 months FCF is $2B. |
| What is United Airlines' FCF margin? | United Airlines' last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of United Airlines? | Current FCF multiple of United Airlines is 21.8x. |
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