Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
United Airlines Holdings Inc., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.00 | 1.19 | 1.16 | 0.55 | 0.54 | |
| Quick ratio | 0.91 | 1.10 | 1.04 | 0.42 | 0.40 | |
| Cash ratio | 0.82 | 1.01 | 0.94 | 0.33 | 0.30 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | United Airlines Holdings Inc. current ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | United Airlines Holdings Inc. quick ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | United Airlines Holdings Inc. cash ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Current Ratio
United Airlines Holdings Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 20,058) | 21,834) | 14,800) | 8,194) | 7,194) | |
| Current liabilities | 19,992) | 18,304) | 12,725) | 14,938) | 13,212) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.00 | 1.19 | 1.16 | 0.55 | 0.54 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.43 | 1.51 | 1.58 | 1.45 | 1.39 | |
| Uber Technologies Inc. | 1.04 | 0.98 | 1.44 | 2.47 | — | |
| Union Pacific Corp. | 0.72 | 0.62 | 1.01 | 0.79 | — | |
| United Parcel Service Inc. | 1.22 | 1.42 | 1.19 | 1.11 | — | |
| Current Ratio, Sector | ||||||
| Transportation | 1.19 | 1.26 | 1.32 | 1.38 | — | |
| Current Ratio, Industry | ||||||
| Industrials | 1.22 | 1.31 | 1.43 | 1.20 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 20,058 ÷ 19,992 = 1.00
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | United Airlines Holdings Inc. current ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Quick Ratio
United Airlines Holdings Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 7,166) | 18,283) | 11,269) | 2,762) | 1,694) | |
| Short-term investments | 9,248) | 123) | 414) | 2,182) | 2,256) | |
| Restricted cash | 45) | 37) | 255) | —) | —) | |
| Receivables, less allowance for credit losses | 1,801) | 1,663) | 1,295) | 1,364) | 1,346) | |
| Total quick assets | 18,260) | 20,106) | 13,233) | 6,308) | 5,296) | |
| Current liabilities | 19,992) | 18,304) | 12,725) | 14,938) | 13,212) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.91 | 1.10 | 1.04 | 0.42 | 0.40 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.31 | 1.40 | 1.45 | 1.27 | 1.22 | |
| Uber Technologies Inc. | 0.88 | 0.82 | 1.19 | 2.24 | — | |
| Union Pacific Corp. | 0.52 | 0.47 | 0.79 | 0.56 | — | |
| United Parcel Service Inc. | 1.11 | 1.32 | 1.00 | 0.99 | — | |
| Quick Ratio, Sector | ||||||
| Transportation | 1.06 | 1.14 | 1.13 | 1.21 | — | |
| Quick Ratio, Industry | ||||||
| Industrials | 0.70 | 0.78 | 0.88 | 0.71 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 18,260 ÷ 19,992 = 0.91
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | United Airlines Holdings Inc. quick ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Cash Ratio
United Airlines Holdings Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 7,166) | 18,283) | 11,269) | 2,762) | 1,694) | |
| Short-term investments | 9,248) | 123) | 414) | 2,182) | 2,256) | |
| Restricted cash | 45) | 37) | 255) | —) | —) | |
| Total cash assets | 16,459) | 18,443) | 11,938) | 4,944) | 3,950) | |
| Current liabilities | 19,992) | 18,304) | 12,725) | 14,938) | 13,212) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.82 | 1.01 | 0.94 | 0.33 | 0.30 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| FedEx Corp. | 0.48 | 0.52 | 0.47 | 0.26 | 0.34 | |
| Uber Technologies Inc. | 0.56 | 0.55 | 1.03 | 2.02 | — | |
| Union Pacific Corp. | 0.18 | 0.17 | 0.43 | 0.19 | — | |
| United Parcel Service Inc. | 0.42 | 0.60 | 0.37 | 0.37 | — | |
| Cash Ratio, Sector | ||||||
| Transportation | 0.44 | 0.51 | 0.52 | 0.59 | — | |
| Cash Ratio, Industry | ||||||
| Industrials | 0.29 | 0.35 | 0.45 | 0.34 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 16,459 ÷ 19,992 = 0.82
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | United Airlines Holdings Inc. cash ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |