How does United Airlines Holdings (UAL) make money?

United Airlines Holdings (UAL) primarily makes money through Passenger, which accounts for 96.9% of total revenue. For TTM through Q1 2026, United Airlines Holdings generated $60.47B in total revenue with a net profit margin of 6.1%.

What is United Airlines Holdings (UAL) gross profit margin?

United Airlines Holdings (UAL) reported a gross profit margin of 64.2% for TTM through Q1 2026, equivalent to $38.85B in gross profit. This means United Airlines Holdings retains 64.2% of each revenue unit after direct costs of production.

What is United Airlines Holdings (UAL) operating profit margin?

United Airlines Holdings (UAL) reported an operating profit margin of 8.4% for TTM through Q1 2026, equivalent to $5.10B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is United Airlines Holdings (UAL) net profit margin?

United Airlines Holdings (UAL) reported a net profit margin of 6.1% for TTM through Q1 2026, equivalent to $3.67B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does United Airlines Holdings (UAL) spend on capital expenditures?

United Airlines Holdings (UAL) spent $6.31B on capital expenditures in TTM through Q1 2026 (10.4% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is United Airlines Holdings (UAL) free cash flow?

United Airlines Holdings (UAL) generated $3.21B in free cash flow for TTM through Q1 2026 (5.3% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is United Airlines Holdings (UAL) effective tax rate?

United Airlines Holdings (UAL) had an effective tax rate of 22% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

How United Airlines Holdings (UAL) Makes Money: A Visual Guide

United Airlines Holdings (UAL) generated $60.47B in revenue, earning $3.67B in net profit (6.1% margin). Its largest revenue source is Passenger (96.9% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

United Airlines Holdings (UAL) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 22, 2026).

Frequently asked questions

How does United Airlines Holdings (UAL) make money?: United Airlines Holdings (UAL) primarily makes money through Passenger, which accounts for 96.9% of total revenue. For TTM through Q1 2026, United Airlines Holdings generated $60.47B in total revenue with a net profit margin of 6.1%.
What is United Airlines Holdings (UAL) gross profit margin?: United Airlines Holdings (UAL) reported a gross profit margin of 64.2% for TTM through Q1 2026, equivalent to $38.85B in gross profit. This means United Airlines Holdings retains 64.2% of each revenue unit after direct costs of production.
What is United Airlines Holdings (UAL) operating profit margin?: United Airlines Holdings (UAL) reported an operating profit margin of 8.4% for TTM through Q1 2026, equivalent to $5.10B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is United Airlines Holdings (UAL) net profit margin?: United Airlines Holdings (UAL) reported a net profit margin of 6.1% for TTM through Q1 2026, equivalent to $3.67B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does United Airlines Holdings (UAL) spend on capital expenditures?: United Airlines Holdings (UAL) spent $6.31B on capital expenditures in TTM through Q1 2026 (10.4% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is United Airlines Holdings (UAL) free cash flow?: United Airlines Holdings (UAL) generated $3.21B in free cash flow for TTM through Q1 2026 (5.3% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is United Airlines Holdings (UAL) effective tax rate?: United Airlines Holdings (UAL) had an effective tax rate of 22% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q1 2026.