United Airlines Holdings (UAL) FY2017 results: revenue $37.7 billion, up 3.2% on the year
United Airlines Holdings, Inc. (UAL) reported revenue of $37.7 billion for fiscal 2017, the year ended 31 December 2017, up 3.2% on the year before. Net income was $2.1 billion, down 4.1%, and diluted earnings per share $7.06. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$37.7 billion
+3.2% on the year
FY2010FY2017
Operating margin
9.6%
11.9% a year earlier
FY2010FY2017
Net income
$2.1 billion
-4.1% on the year
FY2010FY2017
Diluted EPS
$7.06
+4.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
37,736
36,556
37,864
+3.2%
Operating income
3,618
4,338
5,166
-16.6%
Operating margin
9.6%
11.9%
13.6%
Interest expense
626
674
669
-7.1%
Pre-tax income
3,023
3,773
4,219
-19.9%
Income tax
880
1,539
-3,121
-42.8%
Effective tax rate
29.1%
40.8%
-74.0%
Net income
2,143
2,234
7,340
-4.1%
Net margin
5.7%
6.1%
19.4%
Diluted EPS
$7.06
$6.76
$19.47
+4.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,474
5,542
5,992
-37.3%
Capital expenditure
3,870
3,223
2,747
+20.1%
Free cash flow
-396
2,319
3,245
Free cash flow margin
-1.0%
6.3%
8.6%
Cash from investing
-3,803
n/a
n/a
Cash from financing
-383
n/a
n/a
Depreciation and amortisation
2,096
1,977
1,819
+6.0%
Share-based compensation
73.0
70.0
58.0
+4.3%
Buybacks
1,844
2,614
1,233
-29.5%
Diluted shares, weighted
304m
330m
377m
-8.1%
Shares outstanding at period end
287m
315m
365m
-8.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,788
8,574
8,966
+2.5%
Debt
13,268
10,767
10,897
+23.2%
Finance lease liabilities
996
n/a
n/a
Other liabilities
19,274
20,799
20,998
-7.3%
Total liabilities and equity
42,326
40,140
40,861
+5.4%
Fixed assets
26,208
23,318
21,580
+12.4%
Goodwill
4,523
4,523
4,523
0.0%
Intangible assets
3,539
3,632
4,136
-2.6%
Investments
2,316
2,249
2,190
+3.0%
Cash and equivalents
1,482
2,179
3,006
-32.0%
Receivables
1,340
1,176
1,128
+13.9%
Inventory
n/a
n/a
7.0
Other assets
2,918
3,063
4,291
-4.7%
Total assets
42,326
40,140
40,861
+5.4%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.