United Airlines Holdings, Inc.

NasdaqGS:UAL Stock Report

Market Cap: US$17.4b

United Airlines Holdings Valuation

Is UAL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of UAL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UAL ($52.42) is trading below our estimate of fair value ($364.89)

Significantly Below Fair Value: UAL is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for UAL?

Other financial metrics that can be useful for relative valuation.

UAL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA4.8x
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

How does UAL's PE Ratio compare to its peers?

The above table shows the PE ratio for UAL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.5x
LUV Southwest Airlines
42.5x29.0%US$16.7b
DAL Delta Air Lines
6.6x0.7%US$33.7b
AAL American Airlines Group
18.5x31.7%US$9.2b
ALK Alaska Air Group
22.6x38.2%US$5.6b
UAL United Airlines Holdings
6.4x8.6%US$17.4b

Price-To-Earnings vs Peers: UAL is good value based on its Price-To-Earnings Ratio (6.4x) compared to the peer average (22.5x).


Price to Earnings Ratio vs Industry

How does UAL's PE Ratio compare vs other companies in the Global Airlines Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.1%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.1%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: UAL is good value based on its Price-To-Earnings Ratio (6.4x) compared to the Global Airlines industry average (9x).


Price to Earnings Ratio vs Fair Ratio

What is UAL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

UAL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.4x
Fair PE Ratio17x

Price-To-Earnings vs Fair Ratio: UAL is good value based on its Price-To-Earnings Ratio (6.4x) compared to the estimated Fair Price-To-Earnings Ratio (17x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst UAL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$52.42
US$66.95
+27.7%
19.1%US$98.00US$35.00n/a20
May ’25US$50.67
US$65.96
+30.2%
19.8%US$98.00US$35.00n/a19
Apr ’25US$47.35
US$62.59
+32.2%
19.5%US$98.00US$38.00n/a20
Mar ’25US$44.84
US$61.57
+37.3%
19.1%US$98.00US$38.00n/a20
Feb ’25US$41.50
US$61.47
+48.1%
18.8%US$98.00US$38.00n/a20
Jan ’25US$41.26
US$58.05
+40.7%
24.0%US$98.00US$35.00n/a20
Dec ’24US$40.24
US$57.80
+43.6%
24.6%US$98.00US$35.00n/a20
Nov ’24US$34.81
US$59.21
+70.1%
26.1%US$98.00US$35.00n/a19
Oct ’24US$42.30
US$67.86
+60.4%
22.1%US$93.00US$35.00n/a19
Sep ’24US$49.72
US$69.97
+40.7%
19.7%US$93.00US$35.00n/a19
Aug ’24US$53.26
US$70.24
+31.9%
19.2%US$93.00US$35.00n/a18
Jul ’24US$54.87
US$62.89
+14.6%
19.7%US$80.00US$36.00n/a18
Jun ’24US$47.41
US$62.84
+32.5%
16.5%US$80.00US$43.00n/a18
May ’24US$44.41
US$62.78
+41.4%
17.4%US$81.00US$43.00US$50.6718
Apr ’24US$44.25
US$61.28
+38.5%
18.8%US$81.00US$40.00US$47.3518
Mar ’24US$52.39
US$57.73
+10.2%
20.1%US$81.00US$36.00US$44.8418
Feb ’24US$50.22
US$57.48
+14.4%
20.4%US$81.00US$36.00US$41.5017
Jan ’24US$37.70
US$52.62
+39.6%
24.1%US$81.00US$35.00US$41.2618
Dec ’23US$43.89
US$52.84
+20.4%
23.9%US$81.00US$35.00US$40.2417
Nov ’23US$42.66
US$52.31
+22.6%
25.1%US$81.00US$31.00US$34.8117
Oct ’23US$32.53
US$51.60
+58.6%
28.5%US$81.00US$31.00US$42.3017
Sep ’23US$35.18
US$52.12
+48.2%
26.0%US$76.00US$33.00US$49.7218
Aug ’23US$37.69
US$53.12
+40.9%
26.2%US$76.00US$33.00US$53.2617
Jul ’23US$36.44
US$59.32
+62.8%
23.3%US$86.50US$38.00US$54.8717
Jun ’23US$45.49
US$60.88
+33.8%
18.7%US$86.50US$38.00US$47.4120
May ’23US$50.50
US$60.28
+19.4%
19.5%US$86.50US$38.00US$44.4120

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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