UAL
United Airlines Holdings, Inc.
Stock
$112.51+0.73 (+0.65%)Close Oct 2, 2026
Cash flow statement
| Line | Last 12 months | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.9B | $8.4B | $9.4B | $6.9B | $6.1B | $2.1B | −$4.1B | $6.9B | $6.2B | $3.5B | $5.5B | $6.0B | $2.6B | $1.4B | $935M | $2.4B | $1.9B | $966M | −$1.2B |
| Capital expenditures | $6.4B | $5.9B | $5.6B | $7.2B | $4.8B | $2.1B | $1.7B | $4.5B | $4.1B | $3.9B | $3.2B | $2.7B | $2.0B | $2.2B | $2.0B | $840M | $416M | $317M | $475M |
| Free cash flow | $2.5B | $2.6B | $3.8B | −$260M | $1.2B | −$40M | −$5.9B | $2.4B | $2.1B | −$396M | $2.3B | $3.2B | $629M | −$720M | −$1.1B | $1.6B | $1.5B | $649M | −$1.7B |
| Stock-based compensation | — | $148M | $142M | $80M | $89M | $238M | $108M | $100M | $101M | $73M | $70M | $58M | $114M | $11M | $14M | $17M | $14M | $21M | $31M |
| Buybacks | $75M | $637M | $162M | $0 | $0 | $0 | $353M | $1.6B | $1.2B | $1.8B | $2.6B | $1.2B | $312M | $3.0M | $4.0M | — | $3.0M | $2.0M | $11M |
| Free cash flow margin | 4.0% | 4.3% | 6.7% | −0.5% | 2.8% | −0.2% | −38.2% | 5.5% | 5.1% | −1.0% | 6.3% | 8.6% | 1.6% | −1.9% | −2.9% | 4.2% | 6.4% | 4.0% | −8.5% |