Stock Analysis on Net
Stock Analysis on Net

United Airlines Holdings Inc. (NASDAQ:UAL)

デュポンの分析: ROE、ROA、純利益率の内訳 
四半期データ

Microsoft Excel

ROE分解では、純利益を株主資本で割ったものを構成比率の積として表します。

ROEを2つのコンポーネントに分解

United Airlines Holdings Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = ROA × 財務レバレッジ比率
2025/03/31 29.01% = 4.81% × 6.03
2024/12/31 24.84% = 4.25% × 5.84
2024/09/30 24.17% = 3.81% × 6.35
2024/06/30 27.89% = 4.01% × 6.96
2024/03/31 29.26% = 3.74% × 7.83
2023/12/31 28.08% = 3.68% × 7.63
2023/09/30 32.32% = 3.91% × 8.26
2023/06/30 34.60% = 3.64% × 9.52
2023/03/31 28.79% = 2.73% × 10.56
2022/12/31 10.69% = 1.09% × 9.77
2022/09/30 -15.35% = -1.09% × 14.08
2022/06/30 -30.80% = -1.73% × 17.76
2022/03/31 -54.75% = -2.87% × 19.05
2021/12/31 -39.05% = -2.88% × 13.56
2021/09/30 -59.20% = -4.64% × 12.76
2021/06/30 -112.74% = -7.78% × 14.49
2021/03/31 -129.12% = -10.90% × 11.84
2020/12/31 -118.61% = -11.87% × 9.99
2020/09/30 — = — × 8.74
2020/06/30 — = — × 6.45
2020/03/31 — = — × 5.63

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の株主資本利益率(ROE)が上昇した主な理由は、総資産利益率(ROA)で測定される収益性の向上です。

ROEを3つの要素に分解

United Airlines Holdings Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 純利益率 × 資産回転率 × 財務レバレッジ比率
2025/03/31 29.01% = 6.34% × 0.76 × 6.03
2024/12/31 24.84% = 5.52% × 0.77 × 5.84
2024/09/30 24.17% = 4.94% × 0.77 × 6.35
2024/06/30 27.89% = 5.28% × 0.76 × 6.96
2024/03/31 29.26% = 4.90% × 0.76 × 7.83
2023/12/31 28.08% = 4.87% × 0.76 × 7.63
2023/09/30 32.32% = 5.45% × 0.72 × 8.26
2023/06/30 34.60% = 5.24% × 0.69 × 9.52
2023/03/31 28.79% = 3.93% × 0.69 × 10.56
2022/12/31 10.69% = 1.64% × 0.67 × 9.77
2022/09/30 -15.35% = -1.85% × 0.59 × 14.08
2022/06/30 -30.80% = -3.43% × 0.51 × 17.76
2022/03/31 -54.75% = -6.85% × 0.42 × 19.05
2021/12/31 -39.05% = -7.97% × 0.36 × 13.56
2021/09/30 -59.20% = -16.19% × 0.29 × 12.76
2021/06/30 -112.74% = -37.89% × 0.21 × 14.49
2021/03/31 -129.12% = -63.43% × 0.17 × 11.84
2020/12/31 -118.61% = -46.04% × 0.26 × 9.99
2020/09/30 — = — × — × 8.74
2020/06/30 — = — × — × 6.45
2020/03/31 — = — × — × 5.63

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の株主資本利益率(ROE)が上昇した主な理由は、純利益率で測定される収益性の向上です。

ROEを5つの要素に分解

United Airlines Holdings Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 税負担 × 利息負担 × EBITマージン × 資産回転率 × 財務レバレッジ比率
2025/03/31 29.01% = 0.76 × 0.79 × 10.61% × 0.76 × 6.03
2024/12/31 24.84% = 0.76 × 0.75 × 9.76% × 0.77 × 5.84
2024/09/30 24.17% = 0.76 × 0.71 × 9.19% × 0.77 × 6.35
2024/06/30 27.89% = 0.77 × 0.70 × 9.82% × 0.76 × 6.96
2024/03/31 29.26% = 0.77 × 0.67 × 9.48% × 0.76 × 7.83
2023/12/31 28.08% = 0.77 × 0.66 × 9.61% × 0.76 × 7.63
2023/09/30 32.32% = 0.76 × 0.68 × 10.55% × 0.72 × 8.26
2023/06/30 34.60% = 0.78 × 0.66 × 10.20% × 0.69 × 9.52
2023/03/31 28.79% = 0.77 × 0.59 × 8.62% × 0.69 × 10.56
2022/12/31 10.69% = 0.74 × 0.37 × 5.92% × 0.67 × 9.77
2022/09/30 -15.35% = — × -1.52 × 1.59% × 0.59 × 14.08
2022/06/30 -30.80% = — × -15.35 × 0.28% × 0.51 × 17.76
2022/03/31 -54.75% = — × — × -3.16% × 0.42 × 19.05
2021/12/31 -39.05% = — × — × -3.98% × 0.36 × 13.56
2021/09/30 -59.20% = — × — × -12.99% × 0.29 × 12.76
2021/06/30 -112.74% = — × — × -38.49% × 0.21 × 14.49
2021/03/31 -129.12% = — × — × -68.71% × 0.17 × 11.84
2020/12/31 -118.61% = — × — × -50.99% × 0.26 × 9.99
2020/09/30 — = — × — × — × — × 8.74
2020/06/30 — = — × — × — × — × 6.45
2020/03/31 — = — × — × — × — × 5.63

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の株主資本利益率(ROE)が上昇した主な理由は、EBITマージン率で測定される営業利益率の増加です。

ROAを2つのコンポーネントに分解

United Airlines Holdings Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 純利益率 × 資産回転率
2025/03/31 4.81% = 6.34% × 0.76
2024/12/31 4.25% = 5.52% × 0.77
2024/09/30 3.81% = 4.94% × 0.77
2024/06/30 4.01% = 5.28% × 0.76
2024/03/31 3.74% = 4.90% × 0.76
2023/12/31 3.68% = 4.87% × 0.76
2023/09/30 3.91% = 5.45% × 0.72
2023/06/30 3.64% = 5.24% × 0.69
2023/03/31 2.73% = 3.93% × 0.69
2022/12/31 1.09% = 1.64% × 0.67
2022/09/30 -1.09% = -1.85% × 0.59
2022/06/30 -1.73% = -3.43% × 0.51
2022/03/31 -2.87% = -6.85% × 0.42
2021/12/31 -2.88% = -7.97% × 0.36
2021/09/30 -4.64% = -16.19% × 0.29
2021/06/30 -7.78% = -37.89% × 0.21
2021/03/31 -10.90% = -63.43% × 0.17
2020/12/31 -11.87% = -46.04% × 0.26
2020/09/30 — = — × —
2020/06/30 — = — × —
2020/03/31 — = — × —

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の総資産利益率(ROA)が上昇した主な理由は、純利益率で測定した収益性の向上です。

ROAを4つの要素に分解

United Airlines Holdings Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 税負担 × 利息負担 × EBITマージン × 資産回転率
2025/03/31 4.81% = 0.76 × 0.79 × 10.61% × 0.76
2024/12/31 4.25% = 0.76 × 0.75 × 9.76% × 0.77
2024/09/30 3.81% = 0.76 × 0.71 × 9.19% × 0.77
2024/06/30 4.01% = 0.77 × 0.70 × 9.82% × 0.76
2024/03/31 3.74% = 0.77 × 0.67 × 9.48% × 0.76
2023/12/31 3.68% = 0.77 × 0.66 × 9.61% × 0.76
2023/09/30 3.91% = 0.76 × 0.68 × 10.55% × 0.72
2023/06/30 3.64% = 0.78 × 0.66 × 10.20% × 0.69
2023/03/31 2.73% = 0.77 × 0.59 × 8.62% × 0.69
2022/12/31 1.09% = 0.74 × 0.37 × 5.92% × 0.67
2022/09/30 -1.09% = — × -1.52 × 1.59% × 0.59
2022/06/30 -1.73% = — × -15.35 × 0.28% × 0.51
2022/03/31 -2.87% = — × — × -3.16% × 0.42
2021/12/31 -2.88% = — × — × -3.98% × 0.36
2021/09/30 -4.64% = — × — × -12.99% × 0.29
2021/06/30 -7.78% = — × — × -38.49% × 0.21
2021/03/31 -10.90% = — × — × -68.71% × 0.17
2020/12/31 -11.87% = — × — × -50.99% × 0.26
2020/09/30 — = — × — × — × —
2020/06/30 — = — × — × — × —
2020/03/31 — = — × — × — × —

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の総資産利益率(ROA)が上昇した主な理由は、EBITマージン率で測定した営業利益率の増加です。

当期純利益率の分解

United Airlines Holdings Inc.、純利益率の分解(四半期データ)

Microsoft Excel
純利益率 = 税負担 × 利息負担 × EBITマージン
2025/03/31 6.34% = 0.76 × 0.79 × 10.61%
2024/12/31 5.52% = 0.76 × 0.75 × 9.76%
2024/09/30 4.94% = 0.76 × 0.71 × 9.19%
2024/06/30 5.28% = 0.77 × 0.70 × 9.82%
2024/03/31 4.90% = 0.77 × 0.67 × 9.48%
2023/12/31 4.87% = 0.77 × 0.66 × 9.61%
2023/09/30 5.45% = 0.76 × 0.68 × 10.55%
2023/06/30 5.24% = 0.78 × 0.66 × 10.20%
2023/03/31 3.93% = 0.77 × 0.59 × 8.62%
2022/12/31 1.64% = 0.74 × 0.37 × 5.92%
2022/09/30 -1.85% = — × -1.52 × 1.59%
2022/06/30 -3.43% = — × -15.35 × 0.28%
2022/03/31 -6.85% = — × — × -3.16%
2021/12/31 -7.97% = — × — × -3.98%
2021/09/30 -16.19% = — × — × -12.99%
2021/06/30 -37.89% = — × — × -38.49%
2021/03/31 -63.43% = — × — × -68.71%
2020/12/31 -46.04% = — × — × -50.99%
2020/09/30 — = — × — × —
2020/06/30 — = — × — × —
2020/03/31 — = — × — × —

レポートに基づく: 10-Q (報告日: 2025-03-31), 10-K (報告日: 2024-12-31), 10-Q (報告日: 2024-09-30), 10-Q (報告日: 2024-06-30), 10-Q (報告日: 2024-03-31), 10-K (報告日: 2023-12-31), 10-Q (報告日: 2023-09-30), 10-Q (報告日: 2023-06-30), 10-Q (報告日: 2023-03-31), 10-K (報告日: 2022-12-31), 10-Q (報告日: 2022-09-30), 10-Q (報告日: 2022-06-30), 10-Q (報告日: 2022-03-31), 10-K (報告日: 2021-12-31), 10-Q (報告日: 2021-09-30), 10-Q (報告日: 2021-06-30), 10-Q (報告日: 2021-03-31), 10-K (報告日: 2020-12-31), 10-Q (報告日: 2020-09-30), 10-Q (報告日: 2020-06-30), 10-Q (報告日: 2020-03-31).

2025年第1 四半期の純利益率の上昇の主な理由は、EBITマージン率で測定される営業利益率の増加です。