Company / Operating Margin
United Airlines Holdings Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
8.0%
FY2025
5-year range
-41.4% / 9.9%
FY2021-FY2025
Trend
-10.6%
vs FY2024
Sector context
#171 of 304
Industrials
What the data says
At 8.0%, United Airlines Holdings's operating margin ranks #171 of 304 in the Industrials sector. Operating Margin has fluctuated over the past 10 years, ranging from -41.4% in FY2022 to 43.0% in FY2017.
Based on SEC 10-K filings.
8.0% in FY2025 with a 5-year CAGR of +0.2%.
Remained stable around 8.0% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +49.4pp
- 5-Year Change
- +0.2pp
- 10-Year Change
- -
Sector benchmark
#171 of 304 in IndustrialsTop 56% of 304This company 8.0% Sector average -842.8%
▼
+100.9% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 10.6% year-over-year.
- Currently 850.7pp above the Industrials sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 1.09 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
- Strong return on equity: 23.0%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 8.0% | -10.6% |
| FY2024 | 8.9% | +13.9% |
| FY2023 | 7.8% | +118.9% |
| FY2022 | -41.4% | -516.6% |
| FY2021 | 9.9% | +27.1% |
| FY2020 | 7.8% | -18.4% |
| FY2019 | 9.6% | +22.5% |
| FY2018 | 7.8% | -81.8% |
| FY2017 | 43.0% | +261.7% |
| FY2016 | 11.9% | +264.4% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026