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UAL
United Airlines Holdings Inc.Stock · Consumer Discretionary
$133.32−$1.81 (-1.34%)as of market close, Jul 2, 2026
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How United Airlines makes money

Fiscal year

How does United Airlines make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

United Airlines Holdings Inc. · FY2025 · year ended 2025-12-31
Revenue$59.1BGross profit$59.1B · 100%Cost of revenue$0 · 0%Operating income$4.7B · 8%Operating expenses$54.4B · 92%Other opex$54.4B · 92%Pre-tax income$4.3B · 7%Other expense$407M · 1%Net income$3.4B · 6%Income tax$953M · 2%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.