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United Airlines Valuation Multiples

Discover revenue and EBITDA valuation multiples for United Airlines and similar public comparables like Bangkok Airways, Asia Aviation, and Aegean Airlines.

United Airlines Overview

About United Airlines

United Airlines is a major US network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel than its large US peers.


Founded

1968

HQ

United States of America
Employees

107.3K+

Website

united.com

Sectors

Airlines

Financials

LTM Revenue $57.7B

LTM EBITDA $8.1B

EV

$43.5B

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United Airlines Financials

United Airlines has a last 12-month revenue (LTM) of $57.7B and a last 12-month EBITDA of $8.1B.

In the most recent fiscal year, United Airlines achieved revenue of $57.1B and an EBITDA of $8.5B.

United Airlines expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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United Airlines P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $57.7B XXX $57.1B XXX XXX XXX
Gross Profit $57.7B XXX $16.5B XXX XXX XXX
Gross Margin 100% XXX 29% XXX XXX XXX
EBITDA $8.1B XXX $8.5B XXX XXX XXX
EBITDA Margin 14% XXX 15% XXX XXX XXX
EBIT $5.1B XXX $5.2B XXX XXX XXX
EBIT Margin 9% XXX 9% XXX XXX XXX
Net Profit $3.5B XXX $3.1B XXX XXX XXX
Net Margin 6% XXX 6% XXX XXX XXX
Net Debt XXX XXX $19.9B XXX XXX XXX

Financial data powered by Morningstar, Inc.

United Airlines Stock Performance

As of May 30, 2025, United Airlines's stock price is $79.

United Airlines has current market cap of $25.9B, and EV of $43.5B.

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United Airlines Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$43.5B $25.9B XXX XXX XXX XXX $10.53

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United Airlines Valuation Multiples

As of May 30, 2025, United Airlines has market cap of $25.9B and EV of $43.5B.

United Airlines's trades at 0.8x EV/Revenue multiple, and 5.1x EV/EBITDA.

Equity research analysts estimate United Airlines's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

United Airlines has a P/E ratio of 7.4x.

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United Airlines Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $25.9B XXX $25.9B XXX XXX XXX
EV (current) $43.5B XXX $43.5B XXX XXX XXX
EV/Revenue 0.8x XXX 0.8x XXX XXX XXX
EV/EBITDA 5.4x XXX 5.1x XXX XXX XXX
EV/EBIT 8.5x XXX 8.4x XXX XXX XXX
EV/Gross Profit 0.8x XXX n/a XXX XXX XXX
P/E 7.4x XXX 8.2x XXX XXX XXX
EV/FCF 14.0x XXX 11.4x XXX XXX XXX

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United Airlines Margins & Growth Rates

United Airlines's last 12 month revenue growth is 5%

United Airlines's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.1M for the same period.

United Airlines's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

United Airlines's rule of X is 26% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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United Airlines Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 5% XXX 5% XXX XXX XXX
EBITDA Margin 14% XXX 15% XXX XXX XXX
EBITDA Growth 5% XXX 2% XXX XXX XXX
Rule of 40 19% XXX 20% XXX XXX XXX
Bessemer Rule of X XXX XXX 26% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 4% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 20% XXX XXX XXX

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Valuation Multiples Across 220+ Verticals

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United Airlines Public Comps

See public comps and valuation multiples for Airlines comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
flyExclusive XXX XXX XXX XXX XXX XXX
Qantas Airways XXX XXX XXX XXX XXX XXX
Aegean Airlines XXX XXX XXX XXX XXX XXX
Asia Aviation XXX XXX XXX XXX XXX XXX
Bangkok Airways XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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United Airlines M&A and Investment Activity

United Airlines acquired  XXX companies to date.

Last acquisition by United Airlines was  XXXXXXXX, XXXXX XXXXX XXXXXX . United Airlines acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by United Airlines

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 of America.
How many employees does United Airlines have? As of today, United Airlines has 107.3K+ employees.
Who is the CEO of United Airlines? United Airlines's CEO is Mr. J. Scott Kirby.
Is United Airlines publicy listed? Yes, United Airlines is a public company listed on NAS.
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? Similar companies to United Airlines include e.g. flyExclusive, Qantas Airways, Aegean Airlines, Asia Aviation.
What is the current market cap of United Airlines? United Airlines's current market cap is $25.9B
What is the current revenue of United Airlines? United Airlines's last 12 months revenue is $57.7B.
What is the current revenue growth of United Airlines? United Airlines revenue growth (NTM/LTM) is 5%.
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's last 12 months EBITDA is $8.1B.
What is United Airlines's EBITDA margin? United Airlines's last 12 months EBITDA margin is 14%.
What is the current EV/EBITDA multiple of United Airlines? Current EBITDA multiple of United Airlines is 5.4x.
What is the current FCF of United Airlines? United Airlines's last 12 months FCF is $3.1B.
What is United Airlines's FCF margin? United Airlines's last 12 months FCF margin is 5%.
What is the current EV/FCF multiple of United Airlines? Current FCF multiple of United Airlines is 14.0x.

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