Operating Income for United Airlines Holdings (UAL)
According to United Airlines Holdings's latest reported financial statements, the company's current operating income (TTM) is $5.10B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$5.10B
YoY change
-7.5%
5Y CAGR
N/A
Peak year (2015)
$5.17B
Cumulative operating income
$32.47B
Operating Income history chart for United Airlines Holdings (UAL) from 1983 to 2025
Operating Income history table for United Airlines Holdings (UAL) from 1983 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $4.71B | -7.5% | ||
| 2024 | $5.10B | +21.0% | ||
| 2023 | $4.21B | +80.2% | ||
| 2022 | $2.34B | -328.7% | ||
| 2021 | -$1.02B | -83.9% | ||
| 2020 | -$6.36B | -247.8% | ||
| 2019 | $4.30B | +33.2% | ||
| 2018 | $3.23B | -10.8% | ||
| 2017 | $3.62B | -16.7% | ||
| 2016 | $4.34B | -15.9% | ||
| 2015 | $5.17B | +117.7% | ||
| 2014 | $2.37B | +90.0% | ||
| 2013 | $1.25B | +3102.6% | ||
| 2012 | $39.00M | -97.9% | ||
| 2011 | $1.82B | +86.7% | ||
| 2010 | $976.00M | -706.2% | ||
| 2009 | -$161.00M | -96.4% | ||
| 2008 | -$4.44B | -528.0% | ||
| 2007 | $1.04B | +132.0% | ||
| 2006 | $447.00M | -304.1% | ||
| 2005 | -$219.00M | -74.4% | ||
| 2004 | -$854.00M | -37.2% | ||
| 2003 | -$1.36B | -52.1% | ||
| 2002 | -$2.84B | -24.8% | ||
| 2001 | -$3.77B | -676.6% | ||
| 2000 | $654.00M | -53.0% | ||
| 1999 | $1.39B | -5.9% | ||
| 1998 | $1.48B | +17.4% | ||
| 1997 | $1.26B | +12.1% | ||
| 1996 | $1.12B | +35.5% | ||
| 1995 | $829.00M | +59.1% | ||
| 1994 | $521.00M | +98.1% | ||
| 1993 | $263.00M | -148.9% | ||
| 1992 | -$537.80M | +8.9% | ||
| 1991 | -$494.00M | +1272.2% | ||
| 1990 | -$36.00M | -107.7% | ||
| 1989 | $465.00M | -30.1% | ||
| 1988 | $665.00M | +169.2% | ||
| 1987 | $247.00M | +174.4% | ||
| 1986 | $90.00M | -137.0% | ||
| 1985 | -$243.00M | -137.8% | ||
| 1984 | $643.00M | +197.7% | ||
| 1983 | $216.00M | — |
Operating Income values are taken from United Airlines Holdings's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of United Airlines Holdings (UAL) operating income is $4.71B – declined 7.5% year-over-year.
United Airlines Holdings operating income compound annual growth for the 2015–2025 (10 years) window is -0.9%, with a net decline across the window.
Between 2015 and 2025, United Airlines Holdings operating income declined 8.8%, falling from $5.17B to $4.71B.
The dataset's maximum operating income sits at $5.17B (2015); the minimum reading of -$6.36B dates to 2020.
United Airlines Holdings (UAL) sits 8th of 8 Industrials peers we track on this metric, against a peer median of $8.59B.
United Airlines Holdings Operating Income by Year
United Airlines Holdings Operating Income 2025: $4.71B
United Airlines Holdings operating income in 2025 was $4.71B, declined 7.5% below 2024.
United Airlines Holdings Operating Income 2024: $5.10B
United Airlines Holdings operating income in 2024 was $5.10B, grew 21.0% from 2023.
United Airlines Holdings Operating Income 2023: $4.21B
United Airlines Holdings operating income in 2023 was $4.21B, surged 80.2% from 2022.
United Airlines Holdings Operating Income 2022: $2.34B
United Airlines Holdings operating income in 2022 was $2.34B, plunged 328.7% below 2021.
United Airlines Holdings Operating Income 2021: -$1.02B
United Airlines Holdings operating income in 2021 was -$1.02B.
See more financial history for United Airlines Holdings (UAL).
Sector peers — Operating Income
Companies in the same sector as United Airlines Holdings, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $11.21B | Industrials |
| Union Pacific Corporation (UNP) | $9.84B | Industrials |
| RTX Corporation (RTX) | $8.89B | Industrials |
| GE Aerospace (GE) | $8.77B | Industrials |
| Deere & Company (DE) | $8.42B | Industrials |
| Honeywell International Inc. (HON) | $6.57B | Industrials |
| Eaton Corporation plc (ETN) | $5.23B | Industrials |
| The Boeing Company (BA) | -$5.42B | Industrials |
Frequently asked questions
What is United Airlines Holdings's operating income?
- Latest reported operating income for United Airlines Holdings (UAL) is $5.10B (period ending March 31, 2026).
How has United Airlines Holdings operating income changed year-over-year?
- United Airlines Holdings (UAL) operating income changed -7.5% year-over-year on the latest annual filing.
What is the long-term growth rate of United Airlines Holdings operating income?
- United Airlines Holdings (UAL) operating income compound annual growth rate is -0.9% over the most recent 10 years available.
When did United Airlines Holdings operating income hit its highest annual value?
- United Airlines Holdings operating income reached its highest annual value of $5.17B in 2015.
What was United Airlines Holdings operating income in 2024?
- United Airlines Holdings (UAL) operating income in 2024 was $5.10B.
What was United Airlines Holdings operating income in 2025?
- United Airlines Holdings (UAL) operating income in 2025 was $4.71B.
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