Company / Working Capital
United Airlines Holdings Working Capital History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Working Capital
-$9.3B
FY2025
5-year range
-$9.3B / $3.5B
FY2021-FY2025
Trend
-109.3%
vs FY2024
Sector context
#342 of 344
Industrials
What the data says
Among 344 Industrials companies, United Airlines Holdings is in the bottom 1% for working capital. Working Capital has declined for 4 consecutive years, from $3.5B in FY2021 to -$9.3B in FY2025.
Based on SEC 10-K filings.
-$9.3B in FY2025.
Declined from -$3.7B to -$9.3B over the past 2 years.
Industrials sector context is included.
Working Capital over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
Bottom 1% in IndustrialsTop 99% of 344This company -$9.3B Sector average $687.7M
▼
-1448.8% below sector average
Key checks
Key Insights
- United Airlines Holdings's working capital has declined for 4 consecutive years.
- In FY2025, working capital decreased 109.3% year-over-year.
- Ranks #342 out of 344 companies in the Industrials sector.
- Peak working capital was recorded in FY2021.
Company context
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.
Annual data
| Year | Working CapitalValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | -$9.3B | -109.3% |
| FY2024 | -$4.4B | -19.2% |
| FY2023 | -$3.7B | -5730.3% |
| FY2022 | $66.0M | -98.1% |
| FY2021 | $3.5B | +70.1% |
| FY2020 | $2.1B | +130.8% |
| FY2019 | -$6.7B | +0.0% |
| FY2018 | -$6.7B | -19.8% |
| FY2017 | -$5.6B | -13.1% |
| FY2016 | -$5.0B | -8.5% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026