United Airlines Holdings Cash Flow Statement
UAL / Industrials|15 years of annual SEC 10-K data (FY2011-FY2025)
Covers operating cash flow, capital expenditures, free cash flow, share buybacks, and dividends paid across 15 fiscal years. All figures from audited SEC 10-K filings.
United Airlines Holdings generated $8.4B in operating cash flow and $2.6B in free cash flow in FY2025. Free cash flow margin was 4.3% of revenue.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 1.09 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
- Strong return on equity: 23.0%
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $3.4B | $3.1B | $2.6B | -$7.1B | $3.0B | $2.1B | $2.1B | $2.1B | $2.1B | $2.2B | $571.0M | $1.1B | $571.0M | -$723.0M | $840.0M |
| Depreciation & Amortization | $2.9B | $2.9B | $2.7B | $2.5B | $2.3B | $2.2B | $2.1B | $2.2B | $2.1B | $2.0B | $1.7B | $1.7B | $1.7B | $1.5B | $1.5B |
| Operating Cash Flow | $8.4B | $9.4B | $6.9B | -$4.1B | $6.9B | $6.2B | $3.5B | $6.2B | $3.5B | $5.5B | $1.4B | $2.6B | $1.4B | $935.0M | $2.4B |
| Capital Expenditures | $5.9B | $5.6B | $7.2B | $1.7B | $4.5B | $4.1B | $3.9B | $4.1B | $3.9B | $3.2B | $2.2B | $2.0B | $2.2B | $2.0B | $840.0M |
| Free Cash Flow | $2.6B | $3.8B | -$260.0M | -$5.9B | $2.4B | $2.1B | -$396.0M | $2.1B | -$396.0M | $2.3B | -$720.0M | $629.0M | -$720.0M | -$1.1B | $1.6B |
| Share Buybacks | $637.0M | $162.0M | $0 | $353.0M | $1.6B | $1.2B | $1.8B | $1.2B | $1.8B | $2.6B | $312.0M | $312.0M | $3.0M | $4.0M | - |
| FCF Margin | 4.3% | 6.7% | -0.5% | -38.2% | 5.5% | 5.1% | -1.1% | 5.1% | -4.7% | 6.3% | -1.9% | 1.6% | -1.9% | -2.9% | 4.2% |