FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
8Y

Three-Statement Breakdown

UAL
2026-06-30 · figures in $M

FCF DOWN

Free cash flow fell 33% to $2.6B, and covered net income 0.76×.

CASH FROM OPS -10.7%
8,431 14.3% MGN
CAPITAL EXPENDITURE +4.6%
5,874
FREE CASH FLOW -33.2%
2,557
FCF / NET INCOME -37.3%
0.76× TARGET >1.0×
Cash flow FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YoY TTM 8Q
Net income
2,122 3,009 -7,069 -1,964 737 2,618 3,149 3,353 +6.5% 3,497 2024-09-30 · $965.0M2024-12-31 · $985.0M2025-03-31 · $387.0M2025-06-30 · $973.0M2025-09-30 · $949.0M2025-12-31 · $1.0B2026-03-31 · $699.0M2026-06-30 · $805.0M
Depreciation & amortization
2,165 2,288 2,488 2,485 2,456 2,671 2,928 2,939 +0.4% 2,997
Cash from operations
6,164 6,909 -4,133 2,067 6,066 6,911 9,445 8,431 -10.7% 8,913 2024-09-30 · $1.5B2024-12-31 · $2.2B2025-03-31 · $3.7B2025-06-30 · $2.2B2025-09-30 · $1.2B2025-12-31 · $1.3B2026-03-31 · $4.8B2026-06-30 · $1.6B
Cash conversion
NOT DISCLOSED
2.90× 2.30× — — 8.23× 2.64× 3.00× 2.51× -16.2% 2.55×
Capital expenditures
(4,070) (4,528) (1,727) (2,107) (4,819) (7,171) (5,615) (5,874) +4.6% (6,369)
Free cash flow
2,094 2,381 -5,860 -40 1,247 -260 3,830 2,557 -33.2% 2,544 2024-09-30 · $88.0M2024-12-31 · $549.0M2025-03-31 · $2.5B2025-06-30 · $930.0M2025-09-30 · -$246.0M2025-12-31 · -$604.0M2026-03-31 · $3.1B2026-06-30 · $267.0M
FCF margin
5.1% 5.5% -38.2% -0.2% 2.8% -0.5% 6.7% 4.3% -35.5% 4.0%
Cash from investing
-4,455 -4,560 50 -1,672 -13,829 -6,106 -2,651 -6,350 — -6,662
Share repurchases
1,235 1,645 353 0 0 0 162 637 3.9× 75
Debt repayment
1,727 1,391 4,449 5,205 4,011 4,248 10,138 4,771 -52.9% 7,697
Cash from financing
-1,501 -1,280 12,957 6,396 -3,349 -1,892 -4,182 -4,945 — -1,473
Net change in cash
208 1,069 8,874 6,791 -11,112 -1,087 2,612 -2,865 — 777
Ending cash balance
1,694 2,762 11,269 18,283 7,166 6,058 8,769 5,942 -32.2% 10,166

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SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM3,830 CASH FROM OPERATIONS-1,014 CAPITAL EXPENDITURES-259 TO2,557
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-07-16 ↗