United Airlines Holdings (UAL) FY2016 results: revenue $36.6 billion, down 3.5% on the year
United Airlines Holdings, Inc. (UAL) reported revenue of $36.6 billion for fiscal 2016, the year ended 31 December 2016, down 3.5% on the year before. Net income was $2.2 billion, down 69.6%, and diluted earnings per share $6.76. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$36.6 billion
-3.5% on the year
FY2009FY2016
Operating margin
11.9%
13.6% a year earlier
FY2009FY2016
Net income
$2.2 billion
-69.6% on the year
FY2009FY2016
Diluted EPS
$6.76
-65.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
36,556
37,864
38,901
-3.5%
Operating income
4,338
5,166
2,373
-16.0%
Operating margin
11.9%
13.6%
6.1%
Interest expense
674
669
735
+0.7%
Pre-tax income
3,773
4,219
1,128
-10.6%
Income tax
1,539
-3,121
-4.0
Effective tax rate
40.8%
-74.0%
-0.4%
Net income
2,234
7,340
1,132
-69.6%
Net margin
6.1%
19.4%
2.9%
Diluted EPS
$6.76
$19.47
$2.93
-65.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
5,542
5,992
2,634
-7.5%
Capital expenditure
3,223
2,747
2,005
+17.3%
Free cash flow
2,319
3,245
629
-28.5%
Free cash flow margin
6.3%
8.6%
1.6%
Depreciation and amortisation
1,977
1,819
1,679
+8.7%
Share-based compensation
70.0
58.0
114
+20.7%
Buybacks
2,614
1,233
312
+112.0%
Diluted shares, weighted
330m
377m
390m
-12.4%
Shares outstanding at period end
315m
365m
375m
-13.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
8,574
8,966
2,396
-4.4%
Debt
10,767
10,897
11,266
-1.2%
Other liabilities
20,799
20,998
22,933
-0.9%
Total liabilities and equity
40,140
40,861
36,595
-1.8%
Fixed assets
23,318
21,580
19,467
+8.1%
Goodwill
4,523
4,523
4,523
0.0%
Intangible assets
3,632
4,136
4,284
-12.2%
Investments
2,249
2,190
2,382
+2.7%
Cash and equivalents
2,179
3,006
2,002
-27.5%
Receivables
1,176
1,128
1,146
+4.3%
Inventory
n/a
7.0
n/a
Other assets
3,063
4,291
2,791
-28.6%
Total assets
40,140
40,861
36,595
-1.8%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.