United Airlines price to free cash flow UAL

Market value divided by free cash flow over the last twelve months, since 2011.

Today, Oct 23, 2026: 12.5×
10-year median: 11.3×
Against its 10-year history: 63rd; percentile: 0 is its lowest day, 100 its highest
10-year range: 2.4× to 118×
Peer median: 4.0×

United Airlines' price to free cash flow is 12.5× as of Oct 23, 2026.

That is above its ten-year median of 11.3×, close to the middle of its last ten years.

Over that time it ranged from 2.4× in Apr 2020 to 118× in Feb 2025.

The median for 3 airline and airport stocks of a similar size is 4.0×.

Price to free cash flow over time

median 11.3×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	12.5×	8.9×	16.5×
2025	10.0×	4.5×	118×
2024	107×	9.5×	108×
2023	10.1×	7.4×	13.9×
2022	6.8×	6.8×	16.3×
2021	n/m a value too high to mean anything
2020	55.0×	2.4×	68.8×
2019	11.7×	10.3×	15.4×
2018	10.7×	10.5×	65.5×
2017	37.0×	7.8×	39.2×
2016	8.0×	4.9×	9.1×
2015	10.0×	9.9×	93.7×
2014	83.7×	63.6×	83.7×
2013	60.0×	55.1×	60.0×
2012	52.5×	3.8×	55.1×
2011	3.9×	3.2×	4.6×

Against its peers

Companies in Airlines, Airports & Air Services nearest United Airlines' size, closest first, today.

Company	Price to free cash flow
UALUnited Airlines	12.5×
LUVSouthwest Airlines	n/m
DALDelta Air Lines	n/m
SKYWSkywest	4.0×
Peer median	4.0×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on United Airlines

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.