Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. United Airlines Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was CHF2,201 Mil. United Airlines Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was CHF56,636 Mil. Therefore, United Airlines Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.89%.
The historical rank and industry rank for United Airlines Holdings's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:UAL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -14.54 Med: 4.88 Max: 6.96
Current: 5.22
During the past 13 years, United Airlines Holdings's highest Return-on-Tangible-Asset was 6.96%. The lowest was -14.54%. And the median was 4.88%.
XSWX:UAL's Return-on-Tangible-Asset is ranked better than 62.13% of 1006
companies
in the Transportation industry
Industry Median: 3.755
vs XSWX:UAL: 5.22
United Airlines Holdings (XSWX:UAL) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
United Airlines Holdings Return-on-Tangible-Asset Related Terms
United Airlines Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for United Airlines Holdings's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
United Airlines Holdings Return-on-Tangible-Asset Chart
XSWX:UAL vs DAL, LUV, AAL: Return-on-Tangible-Asset Comparison
For the Airlines subindustry, United Airlines Holdings's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
United Airlines Holdings Return-on-Tangible-Asset vs Transportation Industry
For the Transportation industry and Industrials sector, United Airlines Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where United Airlines Holdings's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.89% mean?
United Airlines Holdings (XSWX:UAL) has a Return-on-Tangible-Asset of 3.89% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on United Airlines Holdings and its competitors. This is 20% below median its historical median of 4.88. According to the industry distribution chart, United Airlines Holdings ranks #381 out of 1006 companies in the Transportation industry, placing it in the top 37.9%.
Is United Airlines Holdings' Return-on-Tangible-Asset too high?
United Airlines Holdings' current Return-on-Tangible-Asset of 3.89% is 20% below median its 10-year median of 4.88. The Transportation industry median Return-on-Tangible-Asset is 3.76. United Airlines Holdings' value of 3.89% is 3.6% above this industry median. Based on the distribution chart, United Airlines Holdings ranks #381 out of 1006 companies in the Transportation industry, which is above the industry midpoint. Overall, United Airlines Holdings has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does United Airlines Holdings' Return-on-Tangible-Asset compare to DAL and LUV?
According to the Transportation industry distribution chart, United Airlines Holdings ranks #381 out of 1006 companies for Return-on-Tangible-Asset. This puts United Airlines Holdings in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.76. United Airlines Holdings' value of 3.89% is 3.6% above this benchmark. While the company's 10-year median is 4.88 vs. the industry median of 3.76, United Airlines Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Transportation company?
The median Return-on-Tangible-Asset among Transportation companies is 3.76, based on 1,006 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. United Airlines Holdings's current Return-on-Tangible-Asset of 3.89% is 3.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on United Airlines Holdings and its competitors. For the Transportation industry, the median Return-on-Tangible-Asset is 3.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Airlines Holdings's current Return-on-Tangible-Asset is 3.89%, which is 20% below median its own 10-year median of 4.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Airlines Holdings stock overvalued right now?
United Airlines Holdings (XSWX:UAL) has a current Return-on-Tangible-Asset of 3.89%. The stock's GF Value™ is CHF64.84, compared to a current price of CHF107.76 — trading 66.2% above its estimated fair value. The current Return-on-Tangible-Asset is 3.89%, which is 20% below median its 10-year median of 4.88 and 3.6% above the Transportation industry median of 3.76. United Airlines Holdings' overall GF Score™ is 79/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For United Airlines Holdings (XSWX:UAL), the current Return-on-Tangible-Asset is 3.89% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is United Airlines Holdings (XSWX:UAL) Overvalued in 2026?
Based on GuruFocus' analysis, United Airlines Holdings stock appears to be overvalued.
The current stock price of CHF107.76 is trading 66.2% above its estimated GF Value™ of CHF64.84.
Key valuation signals for XSWX:UAL:
Return-on-Tangible-Asset: 3.89% (20% below median its 10-year median of 4.88)
GF Value™: CHF64.84 vs. price of CHF107.76 (66.2% above fair value)
Industry Position: 3.6% above the Transportation median (#381 of 1006)
No single metric tells the full story. See the XSWX:UAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chicago-based United Airlines is a major US network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel, especially across the Pacific, than its large US peers.
79GF Score
Get the complete analysis for XSWX:UAL
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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