United Airlines market cap is $21.9 b, and annual revenue was $41.30 b in FY 2018

United Airlines Net income (Q3, 2019)1 B

United Airlines EBIT (Q3, 2019)1.5 B

United Airlines Cash, 30-Sept-20193 B

United Airlines EV33.1 B

United Airlines revenue was $41.30 b in FY, 2018 which is a 9.5% year over year increase from the previous period.

United Airlines revenue breakdown by business segment: 91.3% from Passenger and 8.7% from Other

United Airlines revenue breakdown by geographic segment: 61.9% from Domestic (U.S. and Canada), 17.2% from Atlantic, 12.6% from Pacific and 8.4% from Latin America

USD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Revenue | 36.6b | 37.7b | 41.3b |

| (3%) | 3% | 9% |

## Cost of goods sold | 24.9b | 27.1b | 30.2b |

## Gross profit | 11.7b | 10.7b | 11.1b |

| 32% | 28% | 27% |

## Sales and marketing expense | 1.3b | 1.4b | 1.6b |

## Operating expense total | 7.4b | 7.2b | 7.8b |

## Depreciation and amortization | 2.0b | 2.1b | 2.2b |

## EBIT | 4.3b | 3.7b | 3.3b |

| 12% | 10% | 8% |

## Interest expense | 614.0m | 643.0m | 729.0m |

## Interest income | 42.0m | 57.0m | 101.0m |

## Pre tax profit | 3.8b | 3.0b | 2.7b |

## Income tax expense | 1.6b | 868.0m | 529.0m |

## Net Income | 2.3b | 2.1b | 2.1b |

USD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Cash | 2.2b | 1.5b | 1.7b |

## Accounts Receivable | 1.2b | 1.3b | 1.3b |

## Prepaid Expenses | 832.0m | 1.1b | 913.0m |

## Inventories | 873.0m | 924.0m | 985.0m |

## Current Assets | 7.3b | 7.1b | 7.2b |

## PP&E | 23.3b | 26.2b | 28.3b |

## Goodwill | 4.5b | 4.5b | 4.5b |

## Total Assets | 40.1b | 42.3b | 44.8b |

## Accounts Payable | 2.1b | 2.2b | 2.4b |

## Short-term debt | 965.0m | 1.0b | 1.4b |

## Current Liabilities | 12.3b | 12.7b | 13.2b |

## Long-term debt | 10.7b | 13.3b | 13.3b |

## Total Debt | 11.7b | 14.4b | 14.7b |

## Total Liabilities | 31.5b | 35.4b | 34.8b |

## Common Stock | 3.0m | 3.0m | 3.0m |

## Additional Paid-in Capital | 6.6b | 6.1b | 6.1b |

## Retained Earnings | 3.4b | 4.6b | 6.7b |

## Total Equity | 8.7b | 8.8b | 10.0b |

## Debt to Equity Ratio | 1.4 x | 1.6 x | 1.5 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x |

## Financial Leverage | 4.6 x | 4.8 x | 4.5 x |

USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 1.8b | 2.5b | 2.6b | 2.2b | 2.4b | 1.9b | 2.4b | 2.9b | 2.6b | 1.8b | 3.2b | 3.0b |

## Accounts Receivable | 1.6b | 1.5b | 1.5b | 1.4b | 1.5b | 1.6b | 1.8b | 1.8b | 1.8b | 1.8b | 1.8b | 1.6b |

## Prepaid Expenses | 912.0m | 911.0m | 791.0m | 1.0b | 1.2b | 1.0b | 1.1b | 942.0m | 973.0m | 780.0m | 708.0m | 725.0m |

## Inventories | 759.0m | 798.0m | 842.0m | 900.0m | 882.0m | 937.0m | 924.0m | 1.0b | 1.0b | |||

## Current Assets | 7.2b | 7.8b | 8.0b | 7.7b | 8.2b | 7.9b | 8.3b | 8.9b | 8.7b | 7.6b | 8.9b | 8.5b |

## PP&E | 22.0b | 22.4b | 22.6b | 24.2b | 25.0b | 25.6b | 26.7b | 26.9b | 27.3b | 28.6b | 28.9b | 29.3b |

## Goodwill | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b | 4.5b |

## Total Assets | 40.4b | 40.5b | 40.3b | 41.4b | 42.3b | 42.6b | 44.0b | 44.7b | 44.8b | 50.6b | 52.2b | 52.2b |

## Accounts Payable | 2.1b | 2.2b | 2.1b | 2.1b | 2.2b | 2.2b | 2.4b | 2.7b | 2.6b | 2.7b | 3.0b | 2.8b |

## Short-term debt | 1.4b | 1.4b | 1.1b | 829.0m | 1.6b | 1.6b | 1.8b | 1.0b | 1.0b | 2.6b | 2.7b | 2.7b |

## Current Liabilities | 13.4b | 14.0b | 13.3b | 12.7b | 13.6b | 13.1b | 14.2b | 14.1b | 13.7b | 15.3b | 16.1b | 15.7b |

## Long-term debt | 10.2b | 10.0b | 10.4b | 12.0b | 11.6b | 12.3b | 13.2b | 13.5b | 13.3b | 18.1b | 18.2b | 18.0b |

## Total Debt | 11.6b | 11.4b | 11.5b | 12.8b | 13.2b | 13.9b | 15.0b | 14.5b | 14.4b | 13.9b | 14.2b | 14.1b |

## Total Liabilities | 32.5b | 32.7b | 31.9b | 33.0b | 33.5b | 33.6b | 35.7b | 36.1b | 35.4b | |||

## Common Stock | 4.0m | 4.0m | 4.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m |

## Preferred Stock | ||||||||||||

## Additional Paid-in Capital | 8.0b | 8.0b | 8.0b | 6.6b | 6.6b | 6.6b | 6.1b | 6.1b | 6.1b | 6.1b | 6.1b | 6.1b |

## Retained Earnings | 3.8b | 4.4b | 5.3b | 3.5b | 4.4b | 5.0b | 4.7b | 5.4b | 6.2b | 7.0b | 8.1b | 9.1b |

## Total Equity | 7.8b | 7.8b | 8.4b | 8.4b | 8.9b | 9.0b | 8.3b | 8.6b | 9.5b | 9.8b | 10.3b | 11.3b |

## Debt to Equity Ratio | 1.5 x | 1.5 x | 1.4 x | 1.5 x | 1.5 x | 1.6 x | 1.8 x | 1.7 x | 1.5 x | 1.4 x | 1.4 x | 1.3 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x |

## Financial Leverage | 5.1 x | 5.2 x | 4.8 x | 4.9 x | 4.8 x | 4.7 x | 5.3 x | 5.2 x | 4.7 x | 5.2 x | 5.1 x | 4.6 x |

USD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Net Income | 2.3b | 2.1b | 2.1b |

## Depreciation and Amortization | 2.0b | 2.1b | 2.2b |

## Accounts Receivable | (16.0m) | (183.0m) | (29.0m) |

## Accounts Payable | 239.0m | 66.0m | 130.0m |

## Cash From Operating Activities | 5.5b | 3.4b | 6.2b |

## Cash From Investing Activities | (3.2b) | (3.9b) | (4.6b) |

## Long-term Borrowings | (1.4b) | (1.1b) | (1.8b) |

## Cash From Financing Activities | (3.2b) | (195.0m) | (1.4b) |

## Net Change in Cash | (909.0m) | (712.0m) | 208.0m |

## Interest Paid | 584.0m | 571.0m | 651.0m |

## Income Taxes Paid | 14.0m | 20.0m | 19.0m |

## Free Cash Flow | 2.3b | (585.0m) | 2.0b |

USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 292.0m | 1.3b | 2.4b | |||||||||

## Depreciation and Amortization | 547.0m | 1.1b | 1.7b | |||||||||

## Cash From Operating Activities | 1.2b | 3.7b | 4.9b | 547.0m | 2.1b | 2.7b | 1.7b | 4.2b | 5.1b | 1.9b | 4.6b | 5.7b |

## Purchases of PP&E | (1.6b) | (2.5b) | (3.3b) | |||||||||

## Cash From Investing Activities | (797.0m) | (1.6b) | (2.3b) | (643.0m) | (1.7b) | (3.0b) | (730.0m) | (1.7b) | (2.6b) | (1.6b) | (2.4b) | (3.2b) |

## Long-term Borrowings | (261.0m) | (519.0m) | (1.0b) | (346.0m) | (584.0m) | (806.0m) | (219.0m) | (1.4b) | (1.6b) | (250.0m) | (473.0m) | (726.0m) |

## Cash From Financing Activities | (1.6b) | (2.6b) | (3.0b) | 86.0m | (232.0m) | (55.0m) | (84.0m) | (1.1b) | (1.3b) | (183.0m) | (662.0m) | (1.2b) |

## Net Change in Cash | (1.2b) | (523.0m) | (376.0m) | (10.0m) | 198.0m | (324.0m) | 919.0m | 1.4b | 1.1b | 152.0m | 1.5b | 1.3b |

## Free Cash Flow | 383.0m | 2.1b | 2.5b | (144.0m) | 328.0m | (215.0m) | 754.0m | 2.4b | 2.5b |

USD | Y, 2019 |
---|---|

## EV/EBIT | 22.5 x |

## EV/CFO | 5.8 x |

## Revenue/Employee | 119.8k |

## Debt/Equity | 1.3 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 4.6 x |

United Airlines's Daily Flights was reported to be 4.5 k in FY, 2017.