United Airlines Holdings Inc (UAL) — Free Cash Flow Generation Index
United Airlines Holdings Inc (UAL) has a Free Cash Flow Generation Index of 0.65x as of March 2026. Free cash flow of $3.13 Billion represents 1% of operating cash flow ($4.80 Billion). See UAL working capital ratio to evaluate short-term liquidity relative to the company's equity base.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
United Airlines Holdings Inc Free Cash Flow Generation Index (1986–2025)
Historical FCF Generation Index trend for United Airlines Holdings Inc across 35 annual periods. Explore UAL cash flow to debt ratio to assess how comfortably operating cash covers total debt obligations.
Annual Free Cash Flow Generation for United Airlines Holdings Inc (1986–2025)
Year-by-year Free Cash Flow Generation Index for United Airlines Holdings Inc. For the full company profile including market capitalisation, see United Airlines Holdings Inc market cap and net worth.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.30x | $2.56 Billion | $8.43 Billion | $5.87 Billion | ▼ -25.2% |
| 2024 | 0.41x | $3.83 Billion | $9.45 Billion | $5.62 Billion | ▲ +1177.9% |
| 2023 | -0.04x | $-260.00 Million | $6.91 Billion | $7.17 Billion | ▼ -118.3% |
| 2022 | 0.21x | $1.25 Billion | $6.07 Billion | $4.82 Billion | ▲ +1162.3% |
| 2021 | -0.02x | $-40.00 Million | $2.07 Billion | $2.11 Billion | ▼ -105.6% |
| 2019 | 0.34x | $2.38 Billion | $6.91 Billion | $4.53 Billion | ▲ +1.4% |
| 2018 | 0.34x | $2.09 Billion | $6.16 Billion | $4.07 Billion | ▲ +398.0% |
| 2017 | -0.11x | $-396.00 Million | $3.47 Billion | $3.87 Billion | ▼ -127.2% |
| 2016 | 0.42x | $2.32 Billion | $5.54 Billion | $3.22 Billion | ▼ -22.7% |
| 2015 | 0.54x | $3.25 Billion | $5.99 Billion | $2.75 Billion | ▲ +126.8% |
| 2014 | 0.24x | $629.00 Million | $2.63 Billion | $2.00 Billion | ▲ +147.9% |
| 2013 | -0.50x | $-720.00 Million | $1.44 Billion | $2.16 Billion | ▲ +56.9% |
| 2012 | -1.16x | $-1.08 Billion | $935.00 Million | $2.02 Billion | ▼ -263.0% |
| 2011 | 0.71x | $1.71 Billion | $2.41 Billion | $700.00 Million | ▼ -11.9% |
| 2010 | 0.81x | $1.54 Billion | $1.91 Billion | $371.00 Million | ▲ +19.9% |
| 2009 | 0.67x | $649.00 Million | $966.00 Million | $317.00 Million | ▼ -2.9% |
| 2007 | 0.69x | $1.48 Billion | $2.13 Billion | $658.00 Million | ▼ -10.0% |
| 2006 | 0.77x | $1.20 Billion | $1.56 Billion | $362.00 Million | ▲ +36.1% |
| 2005 | 0.56x | $609.00 Million | $1.08 Billion | $470.00 Million | ▼ -33.6% |
| 2003 | 0.85x | $851.00 Million | $1.00 Billion | $150.00 Million | ▲ +3284.2% |
| 2000 | -0.03x | $-66.00 Million | $2.47 Billion | $2.54 Billion | ▼ -302.0% |
| 1999 | 0.01x | $32.00 Million | $2.42 Billion | $2.39 Billion | ▼ -88.3% |
| 1998 | 0.11x | $362.00 Million | $3.19 Billion | $2.83 Billion | ▲ +218.7% |
| 1997 | -0.10x | $-245.00 Million | $2.57 Billion | $2.81 Billion | ▼ -125.6% |
| 1996 | 0.37x | $915.00 Million | $2.45 Billion | $1.54 Billion | ▼ -62.7% |
| 1995 | 1.00x | $1.62 Billion | $1.62 Billion | $1.11 Billion | ▲ +91.1% |
| 1994 | 0.52x | $698.00 Million | $1.33 Billion | $636.00 Million | ▲ +170.4% |
| 1993 | -0.74x | $-638.00 Million | $858.00 Million | $1.50 Billion | ▲ +78.0% |
| 1992 | -3.38x | $-1.94 Billion | $575.30 Million | $2.52 Billion | ▲ +46.7% |
| 1991 | -6.34x | $-2.14 Billion | $338.00 Million | $2.48 Billion | ▼ -139.5% |
| 1990 | -2.65x | $-1.89 Billion | $715.80 Million | $2.61 Billion | ▼ -90.9% |
| 1989 | -1.39x | $-913.10 Million | $658.50 Million | $1.57 Billion | ▼ -786.5% |
| 1988 | 0.20x | $347.40 Million | $1.72 Billion | $1.37 Billion | ▼ -65.1% |
| 1987 | 0.58x | $1.35 Billion | $2.34 Billion | $987.00 Million | ▲ +195.0% |
| 1986 | -0.61x | $-563.60 Million | $926.60 Million | $1.49 Billion | — |