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United Airlines Holdings (UAL)

Nasdaq Industrials Passenger Airlines S&P 500
$112.74
+2.25 (+2.04%)
Close of Nov 06, 2026 · end-of-day data
Source: United Airlines Holdings's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$36.56B$37.78B$41.30B$43.26B$15.36B$24.63B$44.95B$53.72B$57.06B$59.07B
Operating income$4.34B$3.62B$3.23B$4.30B-$6.36B-$1.02B$2.34B$4.21B$5.10B$4.71B
Interest expense$674.00M$626.00M$670.00M———$1.78B$1.96B$1.63B$1.37B
Pre-tax income$3.77B$3.02B$2.65B$3.91B-$8.82B-$2.56B$990.00M$3.39B$4.17B$4.31B
Income tax$1.54B$880.00M$526.00M$905.00M-$1.75B-$593.00M$253.00M$769.00M$1.02B$953.00M
Net income$2.23B$2.14B$2.12B$3.01B-$7.07B-$1.96B$737.00M$2.62B$3.15B$3.35B
EBITDA$6.32B$5.71B$5.39B$6.59B-$3.87B$1.46B$4.79B$6.88B$8.02B$7.65B
EPS (basic)$6.77$7.08$7.70$11.63$-25.30$-6.10$2.26$7.98$9.58$10.32
EPS (diluted)$6.76$7.06$7.67$11.58$-25.30$-6.10$2.23$7.89$9.45$10.20
Diluted shares330.30M303.60M276.70M259.90M279.40M321.90M330.10M331.90M333.20M328.50M
Operating margin11.9%9.6%7.8%9.9%-41.4%-4.1%5.2%7.8%8.9%8.0%
Net margin6.1%5.7%5.1%7.0%-46.0%-8.0%1.6%4.9%5.5%5.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$2.18B$1.48B$1.69B$2.76B$11.27B$18.28B$7.17B$6.06B$8.77B$5.94B
Short-term investments$2.25B$2.32B$2.26B$2.18B$414.00M$123.00M$9.25B$8.33B$5.71B$6.30B
Receivables$1.18B$1.34B$1.43B$1.36B$1.29B$1.66B$1.80B$1.90B$2.16B$2.39B
Total current assets$7.31B$7.13B$7.09B$8.19B$14.80B$21.83B$20.06B$18.49B$18.88B$16.86B
Goodwill$4.52B$4.52B$4.52B$4.52B$4.53B$4.53B$4.53B$4.53B$4.53B$4.53B
Total assets$40.14B$42.35B$49.02B$52.61B$59.55B$68.17B$67.36B$71.10B$74.08B$76.45B
Total current liabilities$12.29B$12.76B$13.84B$14.94B$12.72B$18.30B$19.99B$22.20B$23.31B$26.13B
Short-term debt$849.00M$1.56B$1.23B$1.41B$1.91B$3.00B$2.91B$4.02B$2.97B$4.10B
Long-term debt$9.92B$11.70B$12.21B$13.14B$24.84B$30.36B$28.28B$25.06B$21.68B$17.17B
Total debt$10.77B$13.27B$13.45B$14.55B$26.75B$33.36B$31.19B$29.07B$24.65B$21.27B
Total liabilities$31.57B$33.56B$38.98B$41.08B$53.59B$63.15B$60.46B$61.78B$61.41B$61.17B
Shareholders' equity$8.57B$8.79B$10.04B$11.53B$5.96B$5.03B$6.90B$9.32B$12.68B$15.28B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$5.54B$3.47B$6.16B$6.91B-$4.13B$2.07B$6.07B$6.91B$9.45B$8.43B
Capital expenditures$3.22B$3.87B$4.07B$4.53B$1.73B$2.11B$4.82B$7.17B$5.62B$5.87B
Free cash flow$2.32B-$396.00M$2.09B$2.38B-$5.86B-$40.00M$1.25B-$260.00M$3.83B$2.56B
Investing cash flow-$3.24B-$3.80B-$4.46B-$4.56B$50.00M-$1.67B-$13.83B-$6.11B-$2.65B-$6.35B
Financing cash flow-$3.21B-$383.00M-$1.50B-$1.28B$12.96B$6.40B-$3.35B-$1.89B-$4.18B-$4.95B
Share buybacks$2.61B$1.84B$1.24B$1.65B$353.00M$0$0$0$162.00M$637.00M
Stock-based compensation$70.00M$73.00M$101.00M$100.00M$108.00M$238.00M$89.00M$80.00M$142.00M$148.00M
Depreciation & amortization$1.98B$2.10B$2.17B$2.29B$2.49B$2.48B$2.46B$2.67B$2.93B$2.94B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.