Flagship explainer

What drives United Airlines Holdings, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity24%Tax burden78%net income ÷ pretax incomeInterest burden91%pretax ÷ operating incomeOperating margin8%operating income ÷ revenueAsset turnover0.78×revenue ÷ average assetsEquity multiplier5.38×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$3.4BFY2025
Income before tax$4.3BFY2025
Operating income$4.7BFY2025
$59.1BFY2025
Ending assets$76.4BFY2025
Beginning assets$74.1BFY2024
$15.3BFY2025
$12.7BFY2024
Source: · event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set
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