United Airlines Holdings (UAL) FY2021 results: revenue $24.6 billion, up 60.4% on the year
United Airlines Holdings, Inc. (UAL) reported revenue of $24.6 billion for fiscal 2021, the year ended 31 December 2021, up 60.4% on the year before. Net income was -$2.0 billion, and diluted earnings per share $-6.10. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.
Revenue
$24.6 billion
+60.4% on the year
FY2014FY2021
Operating margin
-4.1%
-41.4% a year earlier
FY2014FY2021
Net income
-$2.0 billion
FY2014FY2021
Diluted EPS
-$6.10
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,067
-4,133
6,909
Capital expenditure
2,107
1,727
4,528
+22.0%
Free cash flow
-40.0
-5,860
2,381
Free cash flow margin
-0.2%
-38.2%
5.5%
Cash from investing
-1,672
50.0
-4,560
Cash from financing
6,396
12,957
-1,280
-50.6%
Depreciation and amortisation
2,485
2,488
2,288
-0.1%
Share-based compensation
238
108
100
+120.4%
Buybacks
0.0
353
1,645
Diluted shares, weighted
322m
279m
260m
+15.2%
Shares outstanding at period end
324m
312m
251m
+3.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
5,029
5,960
11,531
-15.6%
Debt
33,363
26,747
14,552
+24.7%
Operating lease liabilities
5,152
4,986
4,946
+3.3%
Finance lease liabilities
219
224
220
-2.2%
Other liabilities
24,412
21,631
21,362
+12.9%
Total liabilities and equity
68,175
59,548
52,611
+14.5%
Fixed assets
n/a
n/a
30,170
Goodwill
4,527
4,527
4,523
0.0%
Intangible assets
2,803
2,838
3,009
-1.2%
Investments
123
414
2,182
-70.3%
Cash and equivalents
18,283
11,269
2,762
+62.2%
Receivables
1,663
1,295
1,364
+28.4%
Other assets
40,776
39,205
8,601
+4.0%
Total assets
68,175
59,548
52,611
+14.5%
10-K for the year ended 31 December 2021, filed 18 February 2022: the filing.