United Airlines Q4 FY25: where the revenue came from and where it went
The whole income statement of United Airlines for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Oct 1 – Dec 31, 2025
- Reported
- Feb 12, 2026
Revenue$15.40B
+5% year over year
Operating profit$1.33B
9% margin
Net profit$1.04B
7% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 15.40 | 100% | +5% |
| Passenger | 13.93 | 91% | +5% |
| Product & service other | 0.98 | 6% | +9% |
| Cargo & freight | 0.49 | 3% | −6% |
| Operating expenses | −14.07 | 91% | |
| Compensation | −4.52 | 29% | +0pp |
| D&A | −0.75 | 5% | +0pp |
| Interest | −0.33 | 2% | +0pp |
| Underwriting | −2.56 | 17% | +0pp |
| Other | −5.91 | 38% | +0pp |
| Operating profit | 1.33 | 9% margin | +0pp |
| Tax | −0.28 | ||
| Net profit | 1.04 | 7% margin | +0pp |
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