United Airlines Holdings Inc (UAL) — Capital Reinvestment Ratio
United Airlines Holdings Inc (UAL) has a Capital Reinvestment Ratio of 0.35x as of March 2026, meaning it reinvests 0% of its operating cash flow ($4.80 Billion) in capital expenditures ($1.67 Billion). See UAL net asset quality index to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
United Airlines Holdings Inc Capital Reinvestment Ratio (1986–2025)
This chart tracks United Airlines Holdings Inc's Capital Reinvestment Ratio across 35 annual periods. Check UAL total capital reinvestment ratio to assess the company's total reinvestment commitment from operating cash flow.
Annual Capital Reinvestment Ratio for United Airlines Holdings Inc (1986–2025)
Year-by-year Capital Reinvestment Ratio for United Airlines Holdings Inc from 1986 to 2025. For live market cap and broader valuation context, see how much is United Airlines Holdings Inc worth.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.70x | $8.43 Billion | $5.87 Billion | ▲ +17.2% |
| 2024 | 0.59x | $9.45 Billion | $5.62 Billion | ▼ -42.7% |
| 2023 | 1.04x | $6.91 Billion | $7.17 Billion | ▲ +30.6% |
| 2022 | 0.79x | $6.07 Billion | $4.82 Billion | ▼ -22.1% |
| 2021 | 1.02x | $2.07 Billion | $2.11 Billion | ▲ +55.5% |
| 2019 | 0.66x | $6.91 Billion | $4.53 Billion | ▼ -0.7% |
| 2018 | 0.66x | $6.16 Billion | $4.07 Billion | ▼ -40.7% |
| 2017 | 1.11x | $3.47 Billion | $3.87 Billion | ▲ +91.6% |
| 2016 | 0.58x | $5.54 Billion | $3.22 Billion | ▲ +26.9% |
| 2015 | 0.46x | $5.99 Billion | $2.75 Billion | ▼ -39.8% |
| 2014 | 0.76x | $2.63 Billion | $2.00 Billion | ▼ -49.2% |
| 2013 | 1.50x | $1.44 Billion | $2.16 Billion | ▼ -30.5% |
| 2012 | 2.16x | $935.00 Million | $2.02 Billion | ▲ +641.7% |
| 2011 | 0.29x | $2.41 Billion | $700.00 Million | ▲ +49.4% |
| 2010 | 0.19x | $1.91 Billion | $371.00 Million | ▼ -40.7% |
| 2009 | 0.33x | $966.00 Million | $317.00 Million | ▲ +6.4% |
| 2007 | 0.31x | $2.13 Billion | $658.00 Million | ▲ +33.0% |
| 2006 | 0.23x | $1.56 Billion | $362.00 Million | ▼ -46.8% |
| 2005 | 0.44x | $1.08 Billion | $470.00 Million | ▲ +190.7% |
| 2003 | 0.15x | $1.00 Billion | $150.00 Million | ▼ -85.4% |
| 2000 | 1.03x | $2.47 Billion | $2.54 Billion | ▲ +4.0% |
| 1999 | 0.99x | $2.42 Billion | $2.39 Billion | ▲ +11.3% |
| 1998 | 0.89x | $3.19 Billion | $2.83 Billion | ▼ -19.1% |
| 1997 | 1.10x | $2.57 Billion | $2.81 Billion | ▲ +74.7% |
| 1996 | 0.63x | $2.45 Billion | $1.54 Billion | ▼ -8.4% |
| 1995 | 0.68x | $1.62 Billion | $1.11 Billion | ▲ +43.5% |
| 1994 | 0.48x | $1.33 Billion | $636.00 Million | ▼ -72.7% |
| 1993 | 1.74x | $858.00 Million | $1.50 Billion | ▼ -60.2% |
| 1992 | 4.38x | $575.30 Million | $2.52 Billion | ▼ -40.4% |
| 1991 | 7.34x | $338.00 Million | $2.48 Billion | ▲ +101.3% |
| 1990 | 3.65x | $715.80 Million | $2.61 Billion | ▲ +52.8% |
| 1989 | 2.39x | $658.50 Million | $1.57 Billion | ▲ +199.1% |
| 1988 | 0.80x | $1.72 Billion | $1.37 Billion | ▲ +89.2% |
| 1987 | 0.42x | $2.34 Billion | $987.00 Million | ▼ -73.8% |
| 1986 | 1.61x | $926.60 Million | $1.49 Billion | — |