United Airlines Holdings (UAL) Stock Buyback History
TTM buyback yield 1.05% · Shareholder yield (TTM) 1.05%.
TTM buyback yield
1.05%
Shareholder yield (TTM)
1.05%
5Y share count change
17.0%
TTM buyback spend
$315.00M
SBC coverage (TTM)
N/A
YoY change in spend
+293.2%
5Y CAGR of spend
+12.5%
Peak year (1988)
$2.84B
Cumulative spend
$15.22B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- United Airlines Holdings (UAL) repurchased about $315.00M of stock over the trailing twelve months.
- Diluted share count is up 17.0% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
- Cash buyback spend has compounded at +12.5% per year over the latest 5-year window.
- TTM repurchases used about 10% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $637.00M | $0.00 | $637.00M | 0.33B | -1.9% | 1.74% |
| 2024 | $162.00M | $0.00 | $162.00M | 0.33B | 0.4% | 0.51% |
| 2023 | $0.00 | $0.00 | $0.00 | 0.33B | 0.5% | — |
| 2022 | $0.00 | $0.00 | $0.00 | 0.33B | 2.5% | — |
| 2021 | $0.00 | $0.00 | $0.00 | 0.32B | 15.2% | — |
| 2020 | $353.00M | $0.00 | $353.00M | 0.28B | 7.5% | 2.62% |
| 2019 | $1.65B | $0.00 | $1.65B | 0.26B | -6.1% | 7.37% |
| 2018 | $1.24B | $0.00 | $1.24B | 0.28B | -8.9% | 5.41% |
| 2017 | $1.84B | $73.00M | $1.77B | 0.30B | -8.1% | 9.38% |
| 2016 | $2.61B | $0.00 | $2.61B | 0.33B | -12.4% | 11.35% |
| 2015 | $1.23B | $58.00M | $1.18B | 0.38B | -3.3% | 5.86% |
| 2014 | $312.00M | $0.00 | $312.00M | 0.39B | 0.0% | 1.24% |
| 2013 | $3.00M | $11.00M | −$8.00M | 0.39B | 17.8% | 0.02% |
| 2012 | $4.00M | $14.00M | −$10.00M | 0.33B | -13.6% | 0.05% |
| 2011 | $0.00 | $17.00M | −$17.00M | 0.38B | 51.4% | — |
| 2010 | $3.00M | $14.00M | −$11.00M | 0.25B | 67.9% | 0.04% |
| 2009 | $2.00M | $21.00M | −$19.00M | 0.15B | 18.8% | 0.09% |
| 2008 | $11.00M | $31.00M | −$20.00M | 0.13B | -17.5% | 0.69% |
| 2007 | $11.00M | $49.00M | −$38.00M | 0.15B | 32.3% | 0.28% |
| 2006 | $4.00M | $0.00 | $4.00M | 0.12B | 0.0% | 0.08% |
| 2005 | $0.00 | $0.00 | $0.00 | 0.12B | 2.4% | — |
| 2004 | $0.00 | $0.00 | $0.00 | 0.11B | 10.6% | — |
| 2003 | $0.00 | $0.00 | $0.00 | 0.10B | -6.3% | — |
| 2002 | $0.00 | $0.00 | $0.00 | 0.11B | 0.0% | — |
| 2001 | $81.00M | $0.00 | $81.00M | 0.11B | 0.0% | 4.81% |
| 2000 | $81.00M | $0.00 | $81.00M | 0.11B | 0.0% | — |
| 1999 | $261.00M | $0.00 | $261.00M | 0.11B | 3.9% | — |
| 1998 | $462.00M | $0.00 | $462.00M | 0.11B | 0.0% | — |
| 1997 | $250.00M | $0.00 | $250.00M | 0.11B | 0.0% | — |
| 1996 | $84.00M | $0.00 | $84.00M | 0.11B | — | — |
| 1995 | $131.00M | $0.00 | $131.00M | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1991 | $247.20M | $0.00 | $247.20M | — | — | — |
| 1990 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1989 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1988 | $2.84B | $0.00 | $2.84B | — | — | — |
| 1987 | $181.70M | $0.00 | $181.70M | — | — | — |
| 1986 | $526.50M | $0.00 | $526.50M | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for United Airlines Holdings (UAL) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for United Airlines Holdings (UAL)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for United Airlines Holdings (UAL)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $637.00M | +293.2% | +$475.00M | ||
| 2024 | $162.00M | — | +$162.00M | ||
| 2023 | $0 | — | $0 | ||
| 2022 | $0 | — | $0 | ||
| 2021 | $0 | -100.0% | -$353.00M | ||
| 2020 | $353.00M | -78.5% | -$1.29B | ||
| 2019 | $1.65B | +33.2% | +$410.00M | ||
| 2018 | $1.24B | -33.0% | -$609.00M | ||
| 2017 | $1.84B | -29.5% | -$770.00M | ||
| 2016 | $2.61B | +112.0% | +$1.38B | ||
| 2015 | $1.23B | +295.2% | +$921.00M | ||
| 2014 | $312.00M | +10300.0% | +$309.00M | ||
| 2013 | $3.00M | -25.0% | -$1.00M | ||
| 2012 | $4.00M | — | +$4.00M | ||
| 2011 | $0 | -100.0% | -$3.00M | ||
| 2010 | $3.00M | +50.0% | +$1.00M | ||
| 2009 | $2.00M | -81.8% | -$9.00M | ||
| 2008 | $11.00M | 0.0% | $0 | ||
| 2007 | $11.00M | +175.0% | +$7.00M | ||
| 2006 | $4.00M | — | +$4.00M | ||
| 2005 | $0 | — | $0 | ||
| 2004 | $0 | — | $0 | ||
| 2003 | $0 | — | $0 | ||
| 2002 | $0 | -100.0% | -$81.00M | ||
| 2001 | $81.00M | 0.0% | $0 | ||
| 2000 | $81.00M | -69.0% | -$180.00M | ||
| 1999 | $261.00M | -43.5% | -$201.00M | ||
| 1998 | $462.00M | +84.8% | +$212.00M | ||
| 1997 | $250.00M | +197.6% | +$166.00M | ||
| 1996 | $84.00M | -35.9% | -$47.00M | ||
| 1995 | $131.00M | — | +$131.00M | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | — | $0 | ||
| 1992 | $0 | -100.0% | -$247.20M | ||
| 1991 | $247.20M | — | +$247.20M | ||
| 1990 | $0 | — | $0 | ||
| 1989 | $0 | -100.0% | -$2.84B | ||
| 1988 | $2.84B | +1463.8% | +$2.66B | ||
| 1987 | $181.70M | -65.5% | -$344.80M | ||
| 1986 | $526.50M | — | +$526.50M | ||
| 1985 | $0 | — | — |
2025's annual buyback spend for United Airlines Holdings (UAL) came in at $637.00M – surged 293.2% year-over-year.
Looking at the 2020–2025 (5 years) stretch, United Airlines Holdings buyback spend compounded at +12.5% per year, sustaining 2 straight years of year-over-year growth.
Between 1988 and 2025, United Airlines Holdings buyback spend plunged 77.6%, falling from $2.84B to $637.00M.
The dataset's maximum buyback spend sits at $2.84B (1988); the minimum reading of $0 dates to 1985.
United Airlines Holdings (UAL) sits 7th of 8 Industrials peers we track on this metric, against a peer median of $2.27B.
United Airlines Holdings Buyback Spend 2025: $637.00M
United Airlines Holdings buyback spend in 2025 was $637.00M, surged 293.2% from 2024.
United Airlines Holdings Buyback Spend 2024: $162.00M
United Airlines Holdings buyback spend in 2024 was $162.00M.
United Airlines Holdings Buyback Spend 2023: $0
United Airlines Holdings buyback spend in 2023 was $0.
United Airlines Holdings Buyback Spend 2022: $0
United Airlines Holdings buyback spend in 2022 was $0.
United Airlines Holdings Buyback Spend 2021: $0
United Airlines Holdings buyback spend in 2021 was $0.
See more financial history for United Airlines Holdings (UAL).
Sector peers by buyback spend
Companies in the same sector as United Airlines Holdings, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| GE Aerospace (GE) | $7.55B | Industrials |
| Caterpillar (CAT) | $5.19B | Industrials |
| Honeywell International (HON) | $3.80B | Industrials |
| Union Pacific (UNP) | $2.68B | Industrials |
| Eaton Corporation (ETN) | $1.86B | Industrials |
| Deere & Company (DE) | $1.14B | Industrials |
| RTX (RTX) | $50.00M | Industrials |
| Boeing (BA) | $0 | Industrials |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Capital allocation mix
How United Airlines Holdings splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $3.21B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from United Airlines Holdings's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does United Airlines Holdings buy back its own stock?
Yes, United Airlines Holdings (UAL) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does United Airlines Holdings spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $315.00M (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is United Airlines Holdings's buyback yield?
TTM buyback yield is about 1.05% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is United Airlines Holdings's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 1.05% combined (TTM-based where available).
Is United Airlines Holdings diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has United Airlines Holdings's share count changed?
Diluted weighted average shares changed by about 17.0% over roughly five fiscal years (annual income statement data).
What is United Airlines Holdings's buyback spend?
Latest reported buyback spend for United Airlines Holdings (UAL) is $315.00M (period ending March 31, 2026).
How has United Airlines Holdings buyback spend changed year-over-year?
United Airlines Holdings (UAL) buyback spend changed +293.2% year-over-year on the latest annual filing.
What is the long-term growth rate of United Airlines Holdings buyback spend?
United Airlines Holdings (UAL) buyback spend compound annual growth rate is +12.5% over the most recent 5 years available.
When did United Airlines Holdings buyback spend hit its highest annual value?
United Airlines Holdings buyback spend reached its highest annual value of $2.84B in 1988.
What was United Airlines Holdings buyback spend in 2024?
United Airlines Holdings (UAL) buyback spend in 2024 was $162.00M.
What was United Airlines Holdings buyback spend in 2025?
United Airlines Holdings (UAL) buyback spend in 2025 was $637.00M.
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