United Airlines Holdings Inc (UAL) — Financial Flexibility Index
United Airlines Holdings Inc (UAL) has a Financial Flexibility Index of 0.10x as of March 2026. Free cash flow of $6.47 Billion (operating CF $4.80 Billion minus capex $1.67 Billion) represents 0% of total liabilities ($65.06 Billion). Check UAL capital-intensive asset ratio to assess the company's strategic physical and investment asset allocation.
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. See United Airlines Holdings Inc short-term liquidity ratio to evaluate short-term liquidity relative to the company's equity base.
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. For the full company profile including market capitalisation, see UAL stock market capitalisation.
| 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 | — |