United Airlines Holdings (UAL) FY2015 results: revenue $37.9 billion, down 2.7% on the year
United Airlines Holdings, Inc. (UAL) reported revenue of $37.9 billion for fiscal 2015, the year ended 31 December 2015, down 2.7% on the year before. Net income was $7.3 billion, up 548.4%, and diluted earnings per share $19.47. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2016.
Revenue
$37.9 billion
-2.7% on the year
FY2008FY2015
Operating margin
13.6%
6.1% a year earlier
FY2008FY2015
Net income
$7.3 billion
+548.4% on the year
FY2008FY2015
Diluted EPS
$19.47
+564.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
37,864
38,901
38,279
-2.7%
Operating income
5,166
2,373
1,249
+117.7%
Operating margin
13.6%
6.1%
3.3%
Interest expense
669
735
783
-9.0%
Pre-tax income
4,219
1,128
539
+274.0%
Income tax
-3,121
-4.0
-32.0
Effective tax rate
-74.0%
-0.4%
-5.9%
Net income
7,340
1,132
571
+548.4%
Net margin
19.4%
2.9%
1.5%
Diluted EPS
$19.47
$2.93
$1.53
+564.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,992
2,634
1,444
+127.5%
Capital expenditure
2,747
2,005
2,164
+37.0%
Free cash flow
3,245
629
-720
+415.9%
Free cash flow margin
8.6%
1.6%
-1.9%
Cash from investing
n/a
n/a
-2,022
Cash from financing
n/a
n/a
-972
Depreciation and amortisation
1,819
1,679
1,689
+8.3%
Share-based compensation
58.0
114
11.0
-49.1%
Buybacks
1,233
312
3.0
+295.2%
Diluted shares, weighted
377m
390m
390m
-3.3%
Shares outstanding at period end
365m
375m
362m
-2.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
8,966
2,396
2,984
+274.2%
Debt
10,897
11,266
11,708
-3.3%
Other liabilities
20,998
22,933
22,120
-8.4%
Total liabilities and equity
40,861
36,595
36,812
+11.7%
Fixed assets
21,580
19,467
18,047
+10.9%
Goodwill
4,523
4,523
4,523
0.0%
Intangible assets
4,136
4,284
4,436
-3.5%
Investments
2,190
2,382
1,901
-8.1%
Cash and equivalents
3,006
2,002
3,220
+50.1%
Receivables
1,128
1,146
1,503
-1.6%
Inventory
7.0
n/a
n/a
Other assets
4,291
2,791
3,182
+53.7%
Total assets
40,861
36,595
36,812
+11.7%
10-K for the year ended 31 December 2015, filed 18 February 2016: the filing.