Intel vs United Airlines: Revenue, Profit and Business Model
Intel reported $52.9B of revenue in FY2025 and a net loss of $267M. United Airlines reported $59.1B of revenue in FY2025 and $3.4B of net income.
Latest financial snapshot
Intel
- Latest revenue
- $52.9B (FY2025)
- Net income
- -$267M
- Net margin
- -0.5%
- Revenue growth
- -1.3% a year, FY2016–FY2025
United Airlines
- Latest revenue
- $59.1B (FY2025)
- Net income
- $3.4B
- Net margin
- 5.7%
- Revenue growth
- +5.5% a year, FY2016–FY2025
Financial summary
Intel
Intel's revenue peaked at $79.0 billion in 2021 and fell to $53.1 billion in 2024, when it posted an $18.8 billion net loss driven by restructuring and impairments. FY2025 revenue was $52.9 billion with a much smaller $267 million net loss, and the year ended with $37.4 billion in cash and short-term investments. Q2 2026 revenue rose 25% to $16.1 billion with a 41.8% non-GAAP gross margin and $0.42 non-GAAP EPS. GAAP net loss for the quarter was $11.0 billion, almost all from a $12.5 billion non-cash mark-to-market charge on shares escrowed for the U.S. Department of Commerce. Intel guided Q3 2026 revenue to $15.8-16.8 billion.
United Airlines
United's revenue grew from $43.3 billion in 2019 to a record $59.1 billion in 2025, and net income reached $3.4 billion in 2025 against $3.1 billion in 2024. Operating cash flow was $8.4 billion in 2025. In 2026 the story is fuel: after oil prices spiked in March, United cut full-year adjusted EPS guidance to $7-$11, then raised it to $9-$11 in July after Q2 revenue rose 16% to $17.7 billion and yields climbed 12%. Q2 fuel expense was up $2.3 billion (84%), and the company said it expected to recover all of the increase through fares by Q4. Management is targeting an investment-grade credit rating in 2026.
Revenue and profit by year
Intel
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $52.9B | -$267M | -0.5% | -0.5% | Source |
| FY2024 | $53.1B | -$18.8B | -35.3% | -2.1% | Source |
| FY2023 | $54.2B | $1.7B | 3.1% | -14.0% | Source |
| FY2022 | $63.1B | $8B | 12.7% | -20.2% | Source |
| FY2021 | $79B | $19.9B | 25.1% | +1.5% | Source |
| FY2020 | $77.9B | $20.9B | 26.8% | +8.2% | Source |
| FY2019 | $72B | $21B | 29.2% | +1.6% | Source |
| FY2018 | $70.8B | $21.1B | 29.7% | +12.9% | Source |
| FY2017 | $62.8B | $9.6B | 15.3% | +5.7% | Source |
| FY2016 | $59.4B | $10.3B | 17.4% | — | Source |
United Airlines
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $59.1B | $3.4B | 5.7% | +3.5% | Source |
| FY2024 | $57.1B | $3.1B | 5.5% | +6.2% | Source |
| FY2023 | $53.7B | $2.6B | 4.9% | +19.5% | Source |
| FY2022 | $45B | $737M | 1.6% | +82.5% | Source |
| FY2021 | $24.6B | -$2B | -8.0% | +60.4% | Source |
| FY2020 | $15.4B | -$7.1B | -46.0% | -64.5% | Source |
| FY2019 | $43.3B | $3B | 7.0% | +4.7% | Source |
| FY2018 | $41.3B | $2.1B | 5.1% | +9.5% | Source |
| FY2017 | $37.7B | $2.1B | 5.7% | +3.2% | Source |
| FY2016 | $36.6B | $2.2B | 6.1% | — | Source |
Where the revenue comes from
Intel
- Client Computing and Physical AI Group~55%
Core and Core Ultra PC processors, chipsets, and edge platforms; $8.9B in Q2 2026, up 13% year over year.
- Data Center and AI~39%
Xeon server CPUs, AI accelerators, and data-center platforms; $6.3B in Q2 2026, up 59% year over year.
- Intel Foundry (external)small
Wafer manufacturing and advanced packaging for outside customers; most foundry revenue is internal sales to Intel Products and eliminates in consolidation.
- Mobileye and Other~6%
Mobileye ADAS chips and other businesses.
United Airlines
- Passenger tickets
- Premium cabins
- Basic Economy
- MileagePlus and co-brand revenue
- Cargo
- United Club memberships
- Baggage and seat fees
Business model and strategy
Intel
How it makes money
Intel is an integrated device manufacturer (IDM): it designs chips and runs its own fabs in Oregon, Arizona, New Mexico, Ireland, and Israel. Since 2024 it reports two halves. Intel Products (client CPUs, Xeon data-center CPUs, AI accelerators) sells to OEMs, hyperscalers, and enterprises. Intel Foundry manufactures wafers and packages for Intel Products and for external customers, competing with TSMC and Samsung.
Growth strategy
Under Lip-Bu Tan, Intel has cut layers and headcount, slowed some fab projects such as Ohio, and tied foundry spending to committed customer demand.
Competitive advantage
Intel's advantages are the installed base of x86 software, deep OEM and enterprise relationships, leading-edge U.S. fabs, and advanced packaging (EMIB, Foveros) that AI chip designers increasingly need. Its role as the main American maker of leading-edge logic chips also brings policy support: the U.S. government became its largest shareholder in August 2025.
United Airlines
How it makes money
United makes money by filling a hub-and-spoke network. Domestic and regional flights feed passengers into seven U.S. hubs, where they connect to long-haul routes across the Atlantic, Pacific and Latin America. Ticket sales are the core: passenger revenue was $53.4 billion of the $59.1 billion total in 2025.
Growth strategy
United is investing in premium seating, larger aircraft, international routes, operational reliability, MileagePlus, airport clubs, digital service, Starlink connectivity, and network depth at core hubs.
Competitive advantage
United's advantage is its hub network, international route breadth, Star Alliance connectivity, premium-cabin expansion, MileagePlus loyalty base, corporate account strength, and major positions at airports such as Chicago O'Hare, Newark, Denver, Houston, San Francisco, Washington Dulles, and Los Angeles.
Questions about Intel vs United Airlines
Which company has higher revenue — Intel Corporation or United Airlines Holdings, Inc.?
Intel Corporation reported $52.9B (FY2025), while United Airlines Holdings, Inc. reported $59.1B (FY2025). By last reported revenue, United Airlines Holdings, Inc. is the larger business, with Intel Corporation reporting a smaller revenue base.
What is the market cap of Intel Corporation vs United Airlines Holdings, Inc.?
Intel Corporation's market capitalisation stands at $639.9B, while United Airlines Holdings, Inc.'s is $36.1B. Intel Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to United Airlines Holdings, Inc..
Which is more financially efficient — Intel Corporation or United Airlines Holdings, Inc.?
Intel Corporation generates $621k / employee in revenue per employee, while United Airlines Holdings, Inc. generates $522k / employee. Intel Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Intel Corporation and United Airlines Holdings, Inc. make money?
Intel Corporation and United Airlines Holdings, Inc. generate revenue in fundamentally different ways. Intel Corporation: Intel is an integrated device manufacturer (IDM): it designs chips and runs its own fabs in Oregon, Arizona, New Mexico, Ireland, and Israel. United Airlines Holdings, Inc.: United makes money by filling a hub-and-spoke network.
Which company is valued higher relative to revenue — Intel Corporation or United Airlines Holdings, Inc.?
On a price-to-sales (P/S) basis, Intel Corporation trades at 12.1x P/S and United Airlines Holdings, Inc. at 0.6x P/S. Intel Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to United Airlines Holdings, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Intel Corporation bigger than United Airlines Holdings, Inc.?
By last reported revenue, United Airlines Holdings, Inc. ($59.1B (FY2025)) is the larger company compared to Intel Corporation ($52.9B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Intel vs United Airlines overview