United Airlines Holdings annual net debt
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United Airlines Holdings Net Debt Growth & History (UAL)
United Airlines Holdings's net debt was $21.85B for fiscal 2025.
View full United Airlines Holdings company overviewUnited Airlines Holdings annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $21.85B | $694.0M | +3.28% |
| 2024 | 2024-12-31 | $21.15B | −$7.26B | −25.56% |
| 2023 | 2023-12-31 | $28.42B | −$851.0M | −2.91% |
| 2022 | 2022-12-31 | $29.27B | $8.18B | +38.82% |
| 2021 | 2021-12-31 | $21.08B | −$399.0M | −1.86% |
| 2020 | 2020-12-31 | $21.48B | $3.79B | +21.45% |
| 2019 | 2019-12-31 | $17.69B | −$405.0M | −2.24% |
| 2018 | 2018-12-31 | $18.09B | $5.18B | +40.15% |
| 2017 | 2017-12-31 | $12.91B | $3.38B | +35.52% |
| 2016 | 2016-12-31 | $9.53B | $773.0M | +8.83% |
| 2015 | 2015-12-31 | $8.75B | −$1.19B | −11.99% |
| 2014 | 2014-12-31 | $9.95B | $756.0M | +8.23% |
| 2013 | 2013-12-31 | $9.19B | $793.0M | +9.44% |
| 2012 | 2012-12-31 | $8.40B | $1.91B | +29.39% |
| 2011 | 2011-12-31 | $6.49B | −$575.0M | −8.14% |
| 2010 | 2010-12-31 | $7.06B | $1.56B | +28.41% |
| 2009 | 2009-12-31 | $5.50B | — | — |
United Airlines Holdings quarterly net debt
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| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $21.33B | $4.09B | +23.75% |
| Q1 2026 | 2026-03-31 | $20.85B | $559.0M | +2.76% |
| Q4 2025 | 2025-12-31 | $21.85B | $694.0M | +3.28% |
| Q3 2025 | 2025-09-30 | $19.97B | −$1.80B | −8.28% |
| Q2 2025 | 2025-06-30 | $17.24B | −$3.51B | −16.91% |
| Q1 2025 | 2025-03-31 | $20.29B | −$3.60B | −15.05% |
| Q4 2024 | 2024-12-31 | $21.15B | −$7.26B | −25.56% |
| Q3 2024 | 2024-09-30 | $21.77B | −$5.76B | −20.93% |
| Q2 2024 | 2024-06-30 | $20.75B | −$5.49B | −20.93% |
| Q1 2024 | 2024-03-31 | $23.89B | −$4.51B | −15.87% |
| Q4 2023 | 2023-12-31 | $28.42B | −$851.0M | −2.91% |
| Q3 2023 | 2023-09-30 | $27.54B | $1.82B | +7.06% |
| Q2 2023 | 2023-06-30 | $26.24B | $5.11B | +24.19% |
| Q1 2023 | 2023-03-31 | $28.39B | $8.24B | +40.93% |
| Q4 2022 | 2022-12-31 | $29.27B | $8.18B | +38.82% |
| Q3 2022 | 2022-09-30 | $25.72B | $5.09B | +24.67% |
| Q2 2022 | 2022-06-30 | $21.13B | $1.88B | +9.78% |
| Q1 2022 | 2022-03-31 | $20.15B | −$847.0M | −4.03% |
| Q4 2021 | 2021-12-31 | $21.08B | −$399.0M | −1.86% |
| Q3 2021 | 2021-09-30 | $20.63B | $920.0M | +4.67% |
| Q2 2021 | 2021-06-30 | $19.24B | $856.0M | +4.66% |
| Q1 2021 | 2021-03-31 | $20.99B | $1.01B | +5.03% |
| Q4 2020 | 2020-12-31 | $21.48B | $3.79B | +21.45% |
| Q3 2020 | 2020-09-30 | $19.71B | $2.53B | +14.73% |
| Q2 2020 | 2020-06-30 | $18.39B | $1.43B | +8.40% |
| Q1 2020 | 2020-03-31 | $19.99B | $1.75B | +9.58% |
| Q4 2019 | 2019-12-31 | $17.69B | −$405.0M | −2.24% |
| Q3 2019 | 2019-09-30 | $17.18B | $5.42B | +46.11% |
| Q2 2019 | 2019-06-30 | $16.96B | $5.34B | +45.99% |
| Q1 2019 | 2019-03-31 | $18.24B | $5.68B | +45.22% |
| Q4 2018 | 2018-12-31 | $18.09B | $5.18B | +40.15% |
| Q3 2018 | 2018-09-30 | $11.76B | −$314.0M | −2.60% |
| Q2 2018 | 2018-06-30 | $11.62B | $827.0M | +7.66% |
| Q1 2018 | 2018-03-31 | $12.56B | $1.88B | +17.61% |
| Q4 2017 | 2017-12-31 | $12.91B | $3.38B | +35.52% |
| Q3 2017 | 2017-09-30 | $12.07B | $3.25B | +36.77% |
| Q2 2017 | 2017-06-30 | $10.79B | $1.86B | +20.82% |
| Q1 2017 | 2017-03-31 | $10.68B | $868.0M | +8.85% |
| Q4 2016 | 2016-12-31 | $9.53B | $773.0M | +8.83% |
| Q3 2016 | 2016-09-30 | $8.83B | $133.0M | +1.53% |
| Q2 2016 | 2016-06-30 | $8.93B | $69.0M | +0.78% |
| Q1 2016 | 2016-03-31 | $9.81B | $877.0M | +9.82% |
| Q4 2015 | 2015-12-31 | $8.75B | −$1.19B | −11.99% |
| Q3 2015 | 2015-09-30 | $8.69B | −$283.0M | −3.15% |
| Q2 2015 | 2015-06-30 | $8.86B | −$33.0M | −0.37% |
| Q1 2015 | 2015-03-31 | $8.93B | −$181.0M | −1.99% |
| Q4 2014 | 2014-12-31 | $9.95B | $756.0M | +8.23% |
| Q3 2014 | 2014-09-30 | $8.98B | $853.0M | +10.50% |
| Q2 2014 | 2014-06-30 | $8.90B | $1.07B | +13.72% |
| Q1 2014 | 2014-03-31 | $9.12B | $506.0M | +5.88% |
| Q4 2013 | 2013-12-31 | $9.19B | $793.0M | +9.44% |
| Q3 2013 | 2013-09-30 | $8.12B | $1.01B | +14.18% |
| Q2 2013 | 2013-06-30 | $7.82B | $1.46B | +22.98% |
| Q1 2013 | 2013-03-31 | $8.61B | $1.78B | +26.05% |
| Q4 2012 | 2012-12-31 | $8.40B | $1.91B | +29.39% |
| Q3 2012 | 2012-09-30 | $7.12B | $942.0M | +15.26% |
| Q2 2012 | 2012-06-30 | $6.36B | $282.0M | +4.64% |
| Q1 2012 | 2012-03-31 | $6.83B | $411.0M | +6.40% |
| Q4 2011 | 2011-12-31 | $6.49B | −$575.0M | −8.14% |
| Q3 2011 | 2011-09-30 | $6.17B | $2.27B | +58.16% |
| Q2 2011 | 2011-06-30 | $6.08B | $1.81B | +42.43% |
| Q1 2011 | 2011-03-31 | $6.42B | — | — |
| Q4 2010 | 2010-12-31 | $7.06B | $1.56B | +28.41% |
| Q3 2010 | 2010-09-30 | $3.90B | — | — |
| Q2 2010 | 2010-06-30 | $4.27B | — | — |
| Q4 2009 | 2009-12-31 | $5.50B | — | — |
United Airlines Holdings net debt trends
Over the last five fiscal years, United Airlines Holdings's net debt increased from $21.48B to $21.85B, a change of $364.0M. The latest reported quarter, Q2 2026, shows $21.33B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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