LTM vs UAL
Latam Airlines Group S.a. and United Airlines Holdings, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | LTM | UAL |
|---|---|---|
| Revenue | $14.3B | $59.1B |
| Net income | $1.5B | $3.4B |
| Gross margin | 29.2% | — |
| Net margin | 10.2% | 5.7% |
| Return on equity | 141.1% | 24.0% |
| Diluted EPS | $0.00 | $10.20 |
| Dividend / share | $0.00 | — |
| Payout ratio | 41.5% | — |
| Free cash flow | $2.0B | $2.6B |
| Equity | $1.3B | $15.3B |
| Net debt / equity | 4.41× | 1.00× |
| Current ratio | 0.60× | 0.65× |
| Revenue CAGR 5y | 29.5% | 30.9% |
| Profit CAGR 5y | — | — |
UAL bills 4.1× the revenue of LTM, and LTM keeps more of each dollar of revenue as profit (10.2% against 5.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | LTM | UAL |
|---|---|---|
| FY2025 | $14.3B | $59.1B |
| FY2024 | $12.8B | $57.1B |
| FY2023 | $11.6B | $53.7B |
| FY2022 | $9.4B | $45.0B |
| FY2021 | $4.9B | $24.6B |
| FY2020 | $3.9B | $15.4B |
| FY2019 | $10.1B | $43.3B |
| FY2018 | $9.9B | $41.3B |
| FY2017 | $9.6B | $37.8B |
| FY2016 | $9.0B | $36.6B |
Net income by year
Bottom line
| Fiscal year | LTM | UAL |
|---|---|---|
| FY2025 | $1.5B | $3.4B |
| FY2024 | $977.0M | $3.1B |
| FY2023 | $581.8M | $2.6B |
| FY2022 | $1.3B | $737.0M |
| FY2021 | $-4.6B | $-2.0B |
| FY2020 | $-4.5B | $-7.1B |
| FY2019 | $190.4M | $3.0B |
| FY2018 | $309.8M | $2.1B |
| FY2017 | $108.9M | $2.1B |
| FY2016 | $69.2M | $2.2B |
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