United Airlines Holdings (UAL) FCF Margin (2009 - 2026)
United Airlines Holdings' FCF Margin came in at -9.37% for Q3 2026, down 7.75 percentage points from -1.62% a year earlier and down 10.88 percentage points from the prior quarter.
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Analysis
United Airlines Holdings (UAL) FCF Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, United Airlines Holdings reported FCF Margin of 1.70%, down 4.65 percentage points year-over-year; for FY2025, it was 4.33%, down 2.38 percentage points from FY2024.
- FCF Margin carries a five-year change of +42.49 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was 6.71% in FY2024 (+7.20 pp), -0.48% in FY2023 (-3.26 pp), 2.77% in FY2022 (+2.94 pp) and -0.16% in FY2021 (+38.00 pp).
- The Q3 2026 figure represents the lowest quarterly FCF Margin since Q4 2023.
- Year-over-year, FCF Margin increased in three of the last eight quarters, with an average year-over-year change of +0.96 percentage points.
- The fastest year-over-year change in FCF Margin over five years came in Q4 2021 (a gain of 56.82 percentage points), and the weakest in Q2 2022 (a drop of 15.48 percentage points).
- Business Quant data shows UAL's FCF Margin at 1.51% (Q2 2026), 21.41% (Q1 2026) and -3.92% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 173.57 Bn | 165.82 Bn | - | 24.48% |
| 2 | Csx | 93.73 Bn | 88.95 Bn | - | 25.49% |
| 3 | United Parcel Service | 85.38 Bn | 62.27 Bn | - | 0.73% |
| 4 | Canadian Pacific Kansas City | 79.16 Bn | 78.18 Bn | - | 23.25% |
| 5 | Norfolk Southern | 74.37 Bn | 68.83 Bn | - | 20.87% |
| 6 | Fedex | 70.74 Bn | 36.69 Bn | - | 7.16% |
| 7 | Delta Air Lines | 50.02 Bn | 32.21 Bn | - | 1.49% |
| 8 | Old Dominion Freight Line | 37.99 Bn | 37.25 Bn | - | 12.59% |
| 9 | United Airlines Holdings | 31.82 Bn | -25.87 Bn | - | -9.37% |
| 10 | Ryanair Holdings | 27.75 Bn | 11.40 Bn | - | 38.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -9.37% |
| Jun 30, 2026 | 1.51% |
| Mar 31, 2026 | 21.41% |
| Dec 31, 2025 | -3.92% |
| Sep 30, 2025 | -1.62% |
| Jun 30, 2025 | 6.10% |
| Mar 31, 2025 | 18.75% |
| Dec 31, 2024 | 3.74% |
| Sep 30, 2024 | 0.59% |
| Jun 30, 2024 | 11.42% |
| Mar 31, 2024 | 11.82% |
| Dec 31, 2023 | -21.84% |
| Sep 30, 2023 | -6.64% |
| Jun 30, 2023 | 16.78% |
| Mar 31, 2023 | 11.37% |
| Dec 31, 2022 | -11.14% |
| Sep 30, 2022 | -4.56% |
| Jun 30, 2022 | 17.68% |
| Mar 31, 2022 | 14.20% |
| Dec 31, 2021 | -9.83% |
API Access
United Airlines Holdings FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=UAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "UAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=UAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();