United Airlines Holdings, Inc.
boothcheck covers United Airlines Holdings, Inc. (UAL) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 28, 2026.
• United is priced like a troubled airline while operating like a recovering one: at about $118 the stock sits well below where peer-multiple methods land, even as Q1 2026 revenue rose 10.6% to $14.6 billion on strong premium and business demand [Source: UAL Q1 2026 results, April 21 2026]. • The defining number is leverage against the cycle: net debt of about $10 billion sits near two times trailing operating income, manageable in good times but the first thing to bite when demand or fuel turns
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945 institutional managers reported holding UAL in 13F filings for the quarter ended 2026-03-31. Together they hold about 86% of the company; the top 10 hold 46%. 117 opened new positions that quarter. Held by Vanguard Group, BlackRock, FMR (Fidelity), among others. On the short side, 15.2M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UAL's share count is about flat over the past five years ($830.00M of repurchases, offset by issuance). It pays no dividend. Cash returned over the past three years: $830.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at UAL over the trailing three years: 2023: 2 buys totaling $219k. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
UAL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-21 | +3.3% | -25.2% |
| 2023-10-19 | -8.3% | +18.2% |
| 2024-03-01 | +1.3% | +15.2% |
| 2024-04-18 | +18.8% | -4.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
UAL's latest 8-K filings: 2026-07-15 (items 2.02, 7.01, 9.01); 2026-05-22 (items 5.07); 2026-04-27 (items 7.01, 9.01); 2026-04-21 (items 2.02, 7.01, 9.01); 2026-02-06 (items 1.01, 2.03, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.