Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. United Airlines Holdings's annualized net income for the quarter that ended in Mar. 2026 was CHF2,201 Mil. United Airlines Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was CHF6,651 Mil. Therefore, United Airlines Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 33.10%.
The historical rank and industry rank for United Airlines Holdings's Return-on-Tangible-Equity or its related term are showing as below:
XSWX:UAL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -545.03 Med: 117.31 Max: 550.92
Current: 51.61
During the past 13 years, United Airlines Holdings's highest Return-on-Tangible-Equity was 550.92%. The lowest was -545.03%. And the median was 117.31%.
XSWX:UAL's Return-on-Tangible-Equity is ranked better than 91.69% of 975
companies
in the Transportation industry
Industry Median: 9
vs XSWX:UAL: 51.61
United Airlines Holdings (XSWX:UAL) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
United Airlines Holdings Return-on-Tangible-Equity Related Terms
United Airlines Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for United Airlines Holdings's Return-on-Tangible-Equity 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-Equity Chart
XSWX:UAL vs DAL, LUV, AAL: Return-on-Tangible-Equity Comparison
For the Airlines subindustry, United Airlines Holdings's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, United Airlines Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where United Airlines Holdings's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 33.10% mean?
United Airlines Holdings (XSWX:UAL) has a Return-on-Tangible-Equity of 33.10% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on United Airlines Holdings and its competitors. This is 72% below median its historical median of 117.31. According to the industry distribution chart, United Airlines Holdings ranks #81 out of 975 companies in the Transportation industry, placing it in the top 8.3%.
Is United Airlines Holdings' Return-on-Tangible-Equity too high?
United Airlines Holdings' current Return-on-Tangible-Equity of 33.10% is 72% below median its 10-year median of 117.31. The Transportation industry median Return-on-Tangible-Equity is 9.00. United Airlines Holdings' value of 33.10% is 267.8% above this industry median. Based on the distribution chart, United Airlines Holdings ranks #81 out of 975 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. 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-Equity compare to DAL and LUV?
According to the Transportation industry distribution chart, United Airlines Holdings ranks #81 out of 975 companies for Return-on-Tangible-Equity. This places United Airlines Holdings in the top 8% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 9.00. United Airlines Holdings' value of 33.10% is 267.8% above this benchmark. While the company's 10-year median is 117.31 vs. the industry median of 9.00, 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-Equity for a Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 9.00, based on 975 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity of 33.10% is 267.8% 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on United Airlines Holdings and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 9.00 — 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-Equity is 33.10%, which is 72% below median its own 10-year median of 117.31. 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-Equity of 33.10%. The stock's GF Value™ is CHF63.37, compared to a current price of CHF110.06 — trading 73.7% above its estimated fair value. The current Return-on-Tangible-Equity is 33.10%, which is 72% below median its 10-year median of 117.31 and 267.8% above the Transportation industry median of 9.00. 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For United Airlines Holdings (XSWX:UAL), the current Return-on-Tangible-Equity is 33.10% 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 CHF110.06 is trading 73.7% above its estimated GF Value™ of CHF63.37.
Key valuation signals for XSWX:UAL:
Return-on-Tangible-Equity: 33.10% (72% below median its 10-year median of 117.31)
GF Value™: CHF63.37 vs. price of CHF110.06 (73.7% above fair value)
Industry Position: 267.8% above the Transportation median (#81 of 975)
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-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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