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United Airlines Holdings UAL Free cash flow margin

Free cash flow margin at other companies

Southwest Airlines logo
Southwest AirlinesLUV
-1.4%-0.4pp
United Parcel Service, Inc. logo
United Parcel Service, Inc.UPS
5.9%-0.3pp
Uber Technologies logo
Uber TechnologiesUBER
18.3%+1.1pp
Expeditors International of Washington logo
Expeditors International of WashingtonEXPD
8.2%+1.3pp

Other financials

Income statement

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Revenue$14.6B+10.6%
Operating income$997.0M+64.3%
Net income$699.0M+80.6%
EPS (diluted)$2.14+84.5%

Balance sheet

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Cash & equivalents$8.0B-17.7%
Total debt$31.0B-5.9%
Total equity$15.9B+25.8%
Total assets$80.9B+6.3%

Cash flow

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Operating cash flow$4.8B+29.4%
CapEx$1.7B+35.6%
Free cash flow$3.1B+26.2%

Valuation

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Market cap$38.4B+31.7%
Enterprise value$61.36B+15.2%
P/E10.5×+2.5×
P/S0.6×+0.1×

Profitability

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Operating margin8.4%-1.3pp
Net margin6.1%-0.3pp

Returns & leverage

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Return on equity25.7%-7.8pp
Debt / equity-0.7×
Current ratio0.7×-0.1×

Where this comes from

Calculated from United Airlines Holdings’s reported figures.

Based on trailing twelve months.

The official record: United Airlines Holdings’s 10-Q, filed July 17, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is United Airlines Holdings's free cash flow margin?
United Airlines Holdings (UAL) reported free cash flow margin of 7% in Q2 2025.
How has United Airlines Holdings's free cash flow margin changed year-over-year?
United Airlines Holdings's free cash flow margin increased by 620.8% year-over-year, from -1.3% to 7%.
What is the long-term trend for United Airlines Holdings's free cash flow margin?
Over 3 years (2020 to 2024), United Airlines Holdings's free cash flow margin has grown at a -44.0% compound annual growth rate (CAGR), from -38.2% to 6.7%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.