United Airlines Holdings Inc Capital Reinvestment Ratio
United Airlines Holdings Inc capital reinvestment ratio. United Airlines Holdings Inc (UAL) has a Capital Reinvestment Ratio of 0.83x as of June 2026, meaning it reinvests 1% of its operating cash flow ($1.61 Billion) in capital expenditures ($1.34 Billion). See UAL FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of United Airlines Holdings Inc (1986–2025)
Capital reinvestment ratio of United Airlines Holdings Inc from 1986 to 2025. This chart tracks United Airlines Holdings Inc's Capital Reinvestment Ratio across 35 annual periods. See United Airlines Holdings Inc free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.
United Airlines Holdings Inc Capital Reinvestment Ratio by Year (1986–2025)
United Airlines Holdings Inc capital reinvestment ratio by year from 1986 to 2025. For the full cash flow conversion analysis, see UAL cash flow metrics.
| 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 | — |