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). Read United Airlines Holdings Inc total liabilities for a breakdown of total debt and financial obligations.
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 capital reinvestment ratio of United Airlines Holdings Inc to see what proportion of operating cash flow is directed to capital expenditures.
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 (UAL) market capitalisation.
| 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 | — |