Question 1

What is United Airlines Holdings's P/S ratio?

Accepted Answer

United Airlines Holdings (UAL) P/S ratio is 0.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for United Airlines Holdings?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For United Airlines Holdings specifically, the relevant sector benchmark is the current sector median of 3.1×.

Question 5

Is United Airlines Holdings's P/S ratio high or low?

Accepted Answer

United Airlines Holdings's P/S ratio of 0.6× is above its own 5-year average of 0.4× and below the sector median of 3.1×. That places the current reading at the 81th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is United Airlines Holdings's historical P/S ratio range?

Accepted Answer

In the available daily series, United Airlines Holdings (UAL) P/S ratio has ranged from a low of 0.0× in 2009 to a high of 1.8× in 2021. The 5-year average is 0.4× and the 5-year median is 0.4×.

Question 7

What was United Airlines Holdings's P/S ratio in 2025?

Accepted Answer

United Airlines Holdings (UAL) P/S ratio at the end of 2025 was 0.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does United Airlines Holdings's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$36.6B	$59.1B	0.6×	+0.1×	Dec 31, 2025
2024	$31.8B	$57.1B	0.6×	+0.3×	Dec 31, 2024
2023	$13.5B	$53.7B	0.3×	-0.0×	Dec 31, 2023
2022	$12.3B	$45B	0.3×	-0.3×	Dec 31, 2022
2021	$14.2B	$24.6B	0.6×	-0.3×	Dec 31, 2021
2020	$13.5B	$15.4B	0.9×	+0.4×	Dec 31, 2020
2019	$22.3B	$43.3B	0.5×	-0.0×	Dec 31, 2019
2018	$22.8B	$41.3B	0.6×	+0.0×	Dec 31, 2018
2017	$19.7B	$37.8B	0.5×	-0.1×	Dec 31, 2017
2016	$23B	$36.6B	0.6×	+0.1×	Dec 31, 2016
2015	$21B	$37.9B	0.6×	-0.1×	Dec 31, 2015
2014	$25.2B	$38.9B	0.6×	+0.3×	Dec 31, 2014
2013	$13.7B	$38.3B	0.4×	+0.1×	Dec 31, 2013
2012	$7.74B	$37.2B	0.2×	+0.0×	Dec 31, 2012
2011	$6.21B	$37.1B	0.2×	-0.2×	Dec 31, 2011
2010	$7.81B	$23.2B	0.3×	+0.2×	Dec 31, 2010
2009	$2.16B	$16.3B	0.1×	+0.1×	Dec 31, 2009
2008	$1.59B	$20.2B	0.1×	-0.1×	Dec 31, 2008
2007	$3.91B	$20.1B	0.2×	-0.0×	Dec 31, 2007
2006	$4.72B	$20.8B	0.2×	+0.0×	Dec 31, 2006
2005	$3.67B	$17.4B	0.2×	-0.0×	Dec 31, 2005
2004	$3.66B	$16.4B	0.2×	-0.0×	Dec 31, 2004
2003	$3.47B	$13.9B	0.2×	+0.0×	Dec 31, 2003
2002	$2.99B	$14.3B	0.2×	—	Dec 31, 2002


EMCOR Group (EME)	1.9×
Franklin Electric Co. (FELE)	1.9×
Lockheed Martin (LMT)	1.8×
Upwork (UPWK)	1.8×
Boeing (BA)	1.8×
General Dynamics (GD)	1.8×
Expeditors International (EXPD)	1.7×
Northrop Grumman (NOC)	1.7×
Masco (MAS)	1.6×
Pool (POOL)	1.4×
C.H. Robinson Worldwide (CHRW)	1.2×
Alamo Group (ALG)	1.2×
Huntington Ingalls Industries (HII)	1.2×
Jacobs Solutions (J)	1.1×
Textron (TXT)	1.0×
Tennant (TNC)	1.0×
United Parcel Service (UPS)	0.9×
Delta Air Lines (DAL)	0.9×
FedEx (FDX)	0.9×
AGCO (AGCO)	0.8×
Stanley Black & Decker (SWK)	0.7×
Matthews International (MATW)	0.7×
Amentum Holdings (AMTM)	0.5×
ABM Industries (ABM)	0.3×
Andersons (ANDE)	0.2×

P/S Ratio for United Airlines Holdings (UAL) 2002-2026

P/S Ratio daily chart for United Airlines Holdings (UAL)

Historical P/S Ratio for United Airlines Holdings (UAL) from 2002 to 2025

About P/S Ratio at United Airlines Holdings (UAL)

United Airlines Holdings P/S Ratio by Year

United Airlines Holdings P/S Ratio 2025: 0.6×

United Airlines Holdings P/S Ratio 2024: 0.6×

United Airlines Holdings P/S Ratio 2023: 0.3×

United Airlines Holdings P/S Ratio 2022: 0.3×

United Airlines Holdings P/S Ratio 2021: 0.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

United Airlines Holdings (UAL) Key Financials