Income StatementBalance SheetCash FlowSegments
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United Airlines Holdings Cash Flow Statement

Operating, investing, and financing cash movements

United Airlines Holdings generated $9.5B in operating cash flow over the trailing twelve months. After $6.3B in capital expenditures, free cash flow was $6.3B. Free cash flow increased 0.6% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$9.5BNet Cash From Investing (TTM)-$6.8BNet Cash From Financing (TTM)-$4.5BCapital Expenditures (TTM)$6.3BDepreciation And Amortization Cf (TTM)$3.0BNet Change In Cash (TTM)-$1.7B
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$31.2B
P/E Ratio8.50
ROE25.73%

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
ROU assets obtained - operating leases$201.0M$419.0M$554.0M$409.0M$519.0M$902.0M
ROU Asset Obtained for Lease Liability$230.0M$419.0M$554.0M$409.0M$519.0M$902.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$1.7B$1.2B$1.3B$1.5B$1.9B$1.7B
Payment for (Proceeds from) Other Investing Activity-$214.0M$35.0M$35.0M-$6.0M$32.0M$144.0M
Payments to Acquire Short-Term Investments$1.8B$2.2B$2.5B$1.7B$1.3B$2.4B
Proceeds from disposition of marketable securities and other investments$1.5B$2.0B$2.2B$1.4B$1.6B$2.3B
Proceeds from disposals of property, plant and equipment$43.0M$29.0M$19.0M$15.0M$35.0M$9.0M
Net cash from investing activities-$1.7B-$1.5B-$1.6B-$1.7B-$1.6B-$1.9B
Other investing activities-$214.0M$35.0M$35.0M-$6.0M$32.0M$144.0M
Proceeds from maturities/sales of investments$1.5B$2.0B$2.2B$1.4B$1.6B$2.3B
Proceeds from sale of property, plant and equipment$43.0M$29.0M$19.0M$15.0M$35.0M$9.0M
Purchases of investments$1.8B$2.2B$2.5B$1.7B$1.3B$2.4B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$1.3B$1.0B$600.0M$2.6B$575.0M$3.1B
Proceeds from issuance of debt and other financial liabilities, net of discounts and fees$837.0M-$3.0M$3.0M$485.0M$93.0M$2.2B
Other, net-$2.0M-$94.0M-$5.0M-$15.0M-$1.0M-$90.0M
Payment of Deferred Purchase Consideration-$2.0M-$94.0M-$5.0M-$15.0M-$1.0M-$90.0M
Noncontrolling interest transactions and other-$2.0M-$94.0M-$5.0M-$15.0M-$1.0M-$90.0M
Net cash from financing activities-$591.0M-$1.5B-$843.0M-$2.1B-$509.0M-$976.0M
Other financing activities-$2.0M-$94.0M-$5.0M-$15.0M-$1.0M-$90.0M
Noncontrolling Interests Activity and Other-$2.0M-$94.0M-$5.0M-$15.0M-$1.0M-$90.0M
Repurchases of common stock—$349.0M$240.0M$21.0M$27.0M$27.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$732.0M$734.8M$734.8M$734.8M$734.8M$756.0M
Net cash from operating activities$2.2B$3.7B$2.2B$1.2B$1.3B$4.8B
Net income$787.3M$838.3M$838.3M$838.3M$838.3M$699.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$549.0M$2.5B$930.0M-$246.0M—$3.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$0.0$791.0M-$206.0M-$2.7B-$790.0M$1.9B
Property and equipment acquired through the issuance or modification of debt, finance leases and other financial liabilities$565.0M-$1.0M-$51.0M$0.0—$23.0M
Operating leases converted to finance leases$59.8M$0.0$0.0$417.0M$0.0$24.0M
Other Significant Noncash Transaction Value Of Consideration Received1$5.0M$0.0$14.0M$2.0M$29.0M$50.0M
Leased assets obtained in exchange for operating lease liabilities$230.0M$419.0M$554.0M$409.0M$519.0M$902.0M