United Airlines Holdings, Inc. (UAL) Operating margin 2016–2025
United Airlines Holdings, Inc. (UAL) operating margin by fiscal year — reported operating income divided by reported revenue.
8.0%FY2025 · since FY2016: 11.9% → 8.0%
| Fiscal year | Value | YoY |
|---|---|---|
| FY2025 | 8.0% | -1.0 pp |
| FY2024 | 8.9% | +1.1 pp |
| FY2023 | 7.8% | +2.6 pp |
| FY2022 | 5.2% | +9.3 pp |
| FY2021 | -4.1% | +37.3 pp |
| FY2020 | -41.4% | -51.4 pp |
| FY2019 | 9.9% | +2.1 pp |
| FY2018 | 7.8% | -1.8 pp |
| FY2017 | 9.6% | -2.3 pp |
| FY2016 | 11.9% | — |
Operating margin = reported operating income ÷ reported revenue for the same fiscal year. Operating-loss years show as a negative margin.
Source: SEC XBRL filings · For reference only · Not investment advice