United Airlines Holdings Inc (UAL) — Financial Flexibility Index
United Airlines Holdings Inc (UAL) has a Financial Flexibility Index of 0.04x as of June 2026. Free cash flow of $2.95 Billion (operating CF $1.61 Billion minus capex $1.34 Billion) represents 0% of total liabilities ($67.87 Billion). Check UAL cash reinvestment to operating cash ratio to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
United Airlines Holdings Inc Financial Flexibility Index (1985–2025)
Historical Financial Flexibility Index trend for United Airlines Holdings Inc across 41 annual periods. For the full cash flow conversion analysis, see UAL cash flow conversion.
Annual Financial Flexibility Index for United Airlines Holdings Inc (1985–2025)
Year-by-year free cash flow to debt coverage for United Airlines Holdings Inc. Explore United Airlines Holdings Inc debt service capacity to assess how comfortably operating cash covers total debt obligations.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.23x | $14.30 Billion | $8.43 Billion | $61.17 Billion | ▼ -4.6% |
| 2024 | 0.25x | $15.06 Billion | $9.45 Billion | $61.41 Billion | ▲ +7.6% |
| 2023 | 0.23x | $14.08 Billion | $6.91 Billion | $61.78 Billion | ▲ +26.6% |
| 2022 | 0.18x | $10.88 Billion | $6.07 Billion | $60.46 Billion | ▲ +172.4% |
| 2021 | 0.07x | $4.17 Billion | $2.07 Billion | $63.15 Billion | ▲ +247.2% |
| 2020 | -0.04x | $-2.41 Billion | $-4.13 Billion | $53.59 Billion | ▼ -116.1% |
| 2019 | 0.28x | $11.44 Billion | $6.91 Billion | $41.08 Billion | ▲ +6.0% |
| 2018 | 0.26x | $10.23 Billion | $6.16 Billion | $38.98 Billion | ▲ +20.2% |
| 2017 | 0.22x | $7.34 Billion | $3.47 Billion | $33.61 Billion | ▼ -21.5% |
| 2016 | 0.28x | $8.77 Billion | $5.54 Billion | $31.48 Billion | ▲ +1.6% |
| 2015 | 0.27x | $8.74 Billion | $5.99 Billion | $31.89 Billion | ▲ +102.0% |
| 2014 | 0.14x | $4.64 Billion | $2.63 Billion | $34.20 Billion | ▲ +27.2% |
| 2013 | 0.11x | $3.61 Billion | $1.44 Billion | $33.83 Billion | ▲ +34.3% |
| 2012 | 0.08x | $2.95 Billion | $935.00 Million | $37.15 Billion | ▼ -7.5% |
| 2011 | 0.09x | $3.11 Billion | $2.41 Billion | $36.18 Billion | ▲ +42.8% |
| 2010 | 0.06x | $2.28 Billion | $1.91 Billion | $37.87 Billion | ▲ +0.8% |
| 2009 | 0.06x | $1.28 Billion | $966.00 Million | $21.50 Billion | ▲ +257.8% |
| 2008 | -0.04x | $-824.00 Million | $-1.24 Billion | $21.79 Billion | ▼ -129.5% |
| 2007 | 0.13x | $2.79 Billion | $2.13 Billion | $21.80 Billion | ▲ +54.6% |
| 2006 | 0.08x | $1.92 Billion | $1.56 Billion | $23.22 Billion | ▲ +140.2% |
| 2005 | 0.03x | $1.55 Billion | $1.08 Billion | $44.90 Billion | ▲ +349.2% |
| 2004 | 0.01x | $218.00 Million | $-49.00 Million | $28.39 Billion | ▼ -81.4% |
| 2003 | 0.04x | $1.15 Billion | $1.00 Billion | $27.89 Billion | ▲ +209.8% |
| 2002 | -0.04x | $-982.00 Million | $-1.14 Billion | $26.14 Billion | ▼ -146.5% |
| 2001 | 0.08x | $1.79 Billion | $-160.00 Million | $22.16 Billion | ▼ -69.1% |
| 2000 | 0.26x | $5.01 Billion | $2.47 Billion | $19.16 Billion | ▼ -14.1% |
| 1999 | 0.30x | $4.81 Billion | $2.42 Billion | $15.81 Billion | ▼ -22.9% |
| 1998 | 0.39x | $6.03 Billion | $3.19 Billion | $15.28 Billion | ▼ -1.3% |
| 1997 | 0.40x | $5.38 Billion | $2.57 Billion | $13.47 Billion | ▲ +16.6% |
| 1996 | 0.34x | $3.99 Billion | $2.45 Billion | $11.65 Billion | ▲ +48.1% |
| 1995 | 0.23x | $2.73 Billion | $1.62 Billion | $11.82 Billion | ▲ +41.3% |
| 1994 | 0.16x | $1.97 Billion | $1.33 Billion | $12.03 Billion | ▼ -19.3% |
| 1993 | 0.20x | $2.35 Billion | $858.00 Million | $11.60 Billion | ▼ -24.2% |
| 1992 | 0.27x | $3.09 Billion | $575.30 Million | $11.55 Billion | ▼ -21.3% |
| 1991 | 0.34x | $2.82 Billion | $338.00 Million | $8.28 Billion | ▼ -35.4% |
| 1990 | 0.53x | $3.33 Billion | $715.80 Million | $6.31 Billion | ▲ +33.3% |
| 1989 | 0.40x | $2.23 Billion | $658.50 Million | $5.64 Billion | ▼ -30.0% |
| 1988 | 0.56x | $3.09 Billion | $1.72 Billion | $5.47 Billion | ▼ -7.2% |
| 1987 | 0.61x | $3.33 Billion | $2.34 Billion | $5.47 Billion | ▲ +4.1% |
| 1986 | 0.58x | $2.42 Billion | $926.60 Million | $4.13 Billion | ▲ +1682.6% |
| 1985 | 0.03x | $207.10 Million | $-492.40 Million | $6.32 Billion | — |