United Airlines Holdings, Inc. (UAL)
Air Transportation, Scheduled
Latest Price
$121.33
TTM P/E
11.37
Normalized P/E
17.94
Div Yield
--
Book Value
51.49
P/B Ratio
2.36
Valuation metrics
adjust assumptions →EPS: $10.20
Book value / share: $47.24
Formula: √(22.5 × EPS × BVPS)
Graham Number
$104.13
14% downside
Norm. op. income: $4.2B (median of 7yr)
Tax rate: 23%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$74.35
39% downside
Base FCF: $2.6B (median of recent 5yr)
Growth: -15%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$7.94
93% downside
EPS: $10.20
Target P/E: 18×
Formula: EPS × P/E
P/E Fair Value
$183.60
+51% upside
Institutional Ownership
92.4% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 21.71M | $2.00B | 6.69% | +47.9K | 2026-03-31 |
| VANGUARD CAPITAL MANAGEMENT LLC | 20.99M | $1.93B | 6.47% | -- | 2026-03-31 |
| FMR LLC | 17.02M | $1.57B | 5.24% | +603.1K | 2026-03-31 |
| PRIMECAP MANAGEMENT CO/CA/ | 15.75M | $1.45B | 4.85% | -227.9K | 2026-03-31 |
| Sanders Capital, LLC | 15.20M | $1.40B | 4.68% | +21.7K | 2026-03-31 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 14.07M | $1.29B | 4.33% | -- | 2026-03-31 |
| CITADEL ADVISORS LLC | 12.70M | $1.17B | 3.91% | +1.86M | 2026-03-31 |
| STATE STREET CORP | 11.63M | $1.07B | 3.58% | +115.6K | 2026-03-31 |
| Capital World Investors | 11.11M | $1.02B | 3.42% | +3.85M | 2026-03-31 |
| GEODE CAPITAL MANAGEMENT, LLC | 9.30M | $865.0M | 2.87% | +291.4K | 2026-03-31 |