United Airlines Holdings, Inc.
Close on Nov 2, 2026Market cap $35.46BP/E 10.2Yield –
United Airlines Adjusted EBITDA (8-K Non-GAAP, $M) by Year
Adjusted EBITDA (8-K Non-GAAP, $M) ($M)
United Airlines Adjusted EBITDA (8-K Non-GAAP, $M): $8,076M in FY2025, down 1.6% from a year earlier.
Where the FY2025 figure comes from
Source: SEC 8-K EX-99.1 Earnings Release (FY2025Q4, 0000100517-26-000014, filed 2026-01-20) ↗
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Adjusted EBITDA (8-K Non-GAAP, $M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 8,076 | -1.6% | SEC 8-K EX-99.1 Earnings Release (FY2025Q4, 0000100517-26-000014, filed 2026-01-20) ↗ |
| FY2024 | Dec 31, 2024 | 8,211 | +3.4% | SEC 8-K EX-99.1 Earnings Release (FY2024, 0000100517-25-000013, filed 2025-01-21) ↗ |
| FY2023 | Dec 31, 2023 | 7,938 | +60.4% | SEC 8-K EX-99.1 Earnings Release (FY2023, 0000100517-24-000016, filed 2024-01-22) ↗ |
| FY2022 | Dec 31, 2022 | 4,948 | -377.5% | SEC 8-K EX-99.1 Earnings Release (FY2022Q4, 0000100517-23-000016, filed 2023-01-17) ↗ |
| FY2021 | Dec 31, 2021 | -1,783 | -72.3% | SEC 8-K EX-99.1 Earnings Release (FY2021Q4, 0000100517-22-000004, filed 2022-01-19) ↗ |
| FY2020 | Dec 31, 2020 | -6,430 | – | SEC 8-K EX-99.1 Earnings Release (FY2021Q4, 0000100517-22-000004, filed 2022-01-19) ↗ |
Breakdown
What makes up adjusted EBITDA (8-K Non-GAAP, $M)
- Adjusted EBITDA Margin (%)13.7% · FY2025
- Adjusted EBITDAR — Including Fixed Aircraft & Facility Lease Expense (8-K, $M)8,404 · FY2024
- Fixed Aircraft & Facility Operating Lease Expense in EBITDAR Bridge (8-K, $M)894 · FY2025
- Adjusted Operating Income (8-K Non-GAAP, $M)4,972 · FY2025
- Adjusted Operating Margin (%)8.4% · FY2025
- GAAP Operating Margin (8-K, %)8.0% · FY2025
- Adjusted Pre-Tax Income (8-K Non-GAAP, $M)4,580 · FY2025
- Adjusted Pre-Tax Margin (%)7.8% · FY2025
- GAAP Pre-Tax Margin (8-K, %)7.3% · FY2025
- Adjusted Net Income (8-K Non-GAAP, $M)3,491 · FY2025
- Adjusted Diluted Earnings Per Share (8-K Non-GAAP, $/share)10.62 · FY2025
Cite this data
StockData. (2026). United Airlines Adjusted EBITDA (8-K Non-GAAP, $M) ($M), annual FY2020–FY2025 [Data set]. Compiled from United Airlines SEC filings and investor materials. https://stockdatahq.com/stocks/ual/kpis/er-adj-ebitda
See every metric in the United Airlines KPI table. Data updated Nov 3, 2026.