United Airlines Holdings (UAL) Return on Invested Capital [ROIC] (2010 - 2026)
United Airlines Holdings (UAL) posted Return on Invested Capital [ROIC] of 9.15% for Q2 2026, down 0.35 percentage points from 9.49% a year earlier and down 0.76 percentage points from the prior quarter.
United Airlines Holdings (UAL) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For FY2025, United Airlines Holdings' Return on Invested Capital [ROIC] came in at 8.99%, down 0.36 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] shows a five-year change of +26.33 percentage points (FY2020 to FY2025).
- In prior years, United Airlines Holdings' Return on Invested Capital [ROIC] was 9.35% in FY2024 (+1.12 pp), 8.23% in FY2023 (+3.68 pp), 4.55% in FY2022 (+6.76 pp) and -2.21% in FY2021 (+15.13 pp).
- The Q2 2026 figure stands as the lowest quarterly Return on Invested Capital [ROIC] since Q1 2024.
- On a year-over-year basis, Return on Invested Capital [ROIC] has declined in each of the last five quarters, with an average year-over-year change of +0.18 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Return on Invested Capital [ROIC] in the past five years was Q1 2022, with a gain of 14.30 percentage points; the weakest was Q4 2025, with a drop of 0.67 percentage points.
- According to Business Quant data, Return on Invested Capital [ROIC] for the three prior quarters was 9.91% (Q1 2026), 9.17% (Q4 2025) and 9.25% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 165.28 Bn | 159.81 Bn | - | 15.51% |
| 2 | Csx | 87.86 Bn | 84.08 Bn | - | 11.65% |
| 3 | Canadian Pacific Kansas City | 75.56 Bn | 75.27 Bn | - | 5.85% |
| 4 | Norfolk Southern | 71.27 Bn | 65.91 Bn | - | 9.62% |
| 5 | United Parcel Service | 69.70 Bn | 46.62 Bn | - | 12.85% |
| 6 | Fedex | 68.71 Bn | 34.65 Bn | - | 7.44% |
| 7 | Delta Air Lines | 55.32 Bn | 37.50 Bn | - | 11.82% |
| 8 | Old Dominion Freight Line | 37.44 Bn | 36.71 Bn | - | 24.14% |
| 9 | United Airlines Holdings | 36.52 Bn | -19.85 Bn | - | 9.15% |
| 10 | Ryanair Holdings | 28.73 Bn | 12.74 Bn | 3.13 Bn | 20.58% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.15% |
| Mar 31, 2026 | 9.91% |
| Dec 31, 2025 | 9.17% |
| Sep 30, 2025 | 9.25% |
| Jun 30, 2025 | 9.49% |
| Mar 31, 2025 | 10.45% |
| Dec 31, 2024 | 9.84% |
| Sep 30, 2024 | 9.46% |
| Jun 30, 2024 | 9.98% |
| Mar 31, 2024 | 8.71% |
| Dec 31, 2023 | 8.20% |
| Sep 30, 2023 | 9.17% |
| Jun 30, 2023 | 8.93% |
| Mar 31, 2023 | 7.52% |
| Dec 31, 2022 | 4.67% |
| Sep 30, 2022 | 1.16% |
| Jun 30, 2022 | 0.29% |
| Mar 31, 2022 | -2.11% |
| Dec 31, 2021 | -2.02% |
| Sep 30, 2021 | -5.53% |
United Airlines Holdings Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=UAL&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "UAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=UAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();