Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
United Airlines Holdings Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | United Airlines Holdings Inc. inventory turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | United Airlines Holdings Inc. receivables turnover ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | United Airlines Holdings Inc. payables turnover ratio increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | United Airlines Holdings Inc. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | United Airlines Holdings Inc. number of days of payables outstanding decreased from Q2 2024 to Q3 2024 but then slightly increased from Q3 2024 to Q4 2024. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. |
Inventory Turnover
United Airlines Holdings Inc., inventory turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 14,695) | 14,843) | 14,986) | 12,539) | 13,626) | 14,484) | 14,178) | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | ||||||
| Aircraft fuel, spare parts and supplies, less obsolescence allowance | 1,572) | 1,639) | 1,680) | 1,675) | 1,561) | 1,513) | 1,290) | 1,196) | 1,109) | 1,116) | 1,153) | 1,068) | 983) | 955) | 912) | 918) | 932) | 961) | 955) | 1,070) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Inventory turnover1 | 36.30 | 34.16 | 33.12 | 32.73 | 34.41 | 34.69 | 39.44 | 40.82 | 40.54 | 36.51 | 30.89 | 27.13 | 25.06 | 20.79 | 16.00 | 11.54 | 16.48 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 142.82 | 136.74 | 139.15 | 140.40 | 149.26 | 146.78 | 143.65 | 146.45 | 146.80 | 150.05 | 150.76 | 150.16 | 143.03 | 135.08 | 127.31 | 120.56 | 121.01 | 122.65 | 120.12 | 121.41 | ||||||
| Union Pacific Corp. | 31.53 | 31.34 | 29.91 | 31.29 | 32.46 | 31.35 | 33.38 | 34.44 | 33.57 | 30.77 | 29.66 | 31.22 | 35.11 | 31.95 | 29.89 | 29.29 | 30.62 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Inventory turnover
= (Operating revenueQ4 2024
+ Operating revenueQ3 2024
+ Operating revenueQ2 2024
+ Operating revenueQ1 2024)
÷ Aircraft fuel, spare parts and supplies, less obsolescence allowance
= (14,695 + 14,843 + 14,986 + 12,539)
÷ 1,572 = 36.30
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | United Airlines Holdings Inc. inventory turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Receivables Turnover
United Airlines Holdings Inc., receivables turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 14,695) | 14,843) | 14,986) | 12,539) | 13,626) | 14,484) | 14,178) | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | ||||||
| Receivables, less allowance for credit losses | 2,163) | 2,042) | 2,376) | 2,259) | 1,898) | 2,193) | 2,004) | 2,274) | 1,801) | 2,034) | 2,217) | 2,062) | 1,663) | 1,709) | 1,793) | 1,389) | 1,295) | 1,171) | 857) | 792) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 26.38 | 27.42 | 23.42 | 24.27 | 28.30 | 23.94 | 25.39 | 21.47 | 24.96 | 20.03 | 16.07 | 14.05 | 14.81 | 11.62 | 8.14 | 7.63 | 11.86 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 8.69 | 8.84 | 8.25 | 8.68 | 8.85 | 8.64 | 8.08 | 8.57 | 7.88 | 7.86 | 7.34 | 7.79 | 6.96 | 6.86 | 6.55 | 6.80 | 6.85 | 7.47 | 7.13 | 7.48 | ||||||
| Uber Technologies Inc. | 13.19 | 11.28 | 10.59 | 10.41 | 10.95 | 11.98 | 13.59 | 13.16 | 11.47 | 11.77 | 10.39 | 8.65 | 7.16 | 11.13 | 10.67 | 10.04 | 10.38 | — | — | — | ||||||
| Union Pacific Corp. | 12.80 | 11.93 | 11.40 | 11.14 | 11.63 | 12.48 | 13.56 | 12.82 | 13.15 | 11.90 | 11.42 | 11.57 | 12.66 | 12.63 | 12.34 | 11.99 | 12.98 | — | — | — | ||||||
| United Parcel Service Inc. | 8.38 | 9.86 | 9.89 | 9.39 | 8.11 | 9.84 | 10.03 | 9.60 | 7.97 | 9.21 | 8.78 | 8.82 | 7.76 | 9.01 | 9.12 | 8.84 | 7.87 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Receivables turnover
= (Operating revenueQ4 2024
+ Operating revenueQ3 2024
+ Operating revenueQ2 2024
+ Operating revenueQ1 2024)
÷ Receivables, less allowance for credit losses
= (14,695 + 14,843 + 14,986 + 12,539)
÷ 2,163 = 26.38
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | United Airlines Holdings Inc. receivables turnover ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024. |
Payables Turnover
United Airlines Holdings Inc., payables turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 14,695) | 14,843) | 14,986) | 12,539) | 13,626) | 14,484) | 14,178) | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | ||||||
| Accounts payable | 4,193) | 4,008) | 4,478) | 4,344) | 3,835) | 4,206) | 4,172) | 3,858) | 3,395) | 3,534) | 3,755) | 2,966) | 2,562) | 2,199) | 2,218) | 1,838) | 1,595) | 1,831) | 1,725) | 2,436) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 13.61 | 13.97 | 12.42 | 12.62 | 14.01 | 12.48 | 12.20 | 12.65 | 13.24 | 11.53 | 9.49 | 9.77 | 9.62 | 9.03 | 6.58 | 5.77 | 9.63 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 27.50 | 23.15 | 21.98 | 23.35 | 23.43 | 23.23 | 23.59 | 22.74 | 23.20 | 21.90 | 21.37 | 22.67 | 21.86 | 19.74 | 20.02 | 21.41 | 21.17 | 21.82 | 21.07 | 21.92 | ||||||
| Uber Technologies Inc. | 31.06 | 31.76 | 32.37 | 28.05 | 28.43 | 27.17 | 30.63 | 29.34 | 27.00 | 22.55 | 18.17 | 13.53 | 10.87 | 24.80 | 15.26 | 23.16 | 21.93 | — | — | — | ||||||
| United Parcel Service Inc. | 14.45 | 16.76 | 16.89 | 16.63 | 14.35 | 15.59 | 15.81 | 15.69 | 13.36 | 15.02 | 13.96 | 14.04 | 12.93 | 14.65 | 14.09 | 14.20 | 13.11 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Payables turnover
= (Operating revenueQ4 2024
+ Operating revenueQ3 2024
+ Operating revenueQ2 2024
+ Operating revenueQ1 2024)
÷ Accounts payable
= (14,695 + 14,843 + 14,986 + 12,539)
÷ 4,193 = 13.61
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | United Airlines Holdings Inc. payables turnover ratio increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024. |
Working Capital Turnover
United Airlines Holdings Inc., working capital turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 18,883) | 18,571) | 20,003) | 18,696) | 18,487) | 21,912) | 23,306) | 21,586) | 20,058) | 22,689) | 24,371) | 22,612) | 21,834) | 23,057) | 24,673) | 16,019) | 14,800) | 16,476) | 10,041) | 7,905) | ||||||
| Less: Current liabilities | 23,314) | 23,365) | 25,855) | 24,764) | 22,203) | 24,756) | 25,575) | 23,635) | 19,992) | 21,989) | 23,444) | 21,788) | 18,304) | 16,935) | 18,064) | 14,167) | 12,725) | 15,791) | 16,395) | 16,087) | ||||||
| Working capital | (4,431) | (4,794) | (5,852) | (6,068) | (3,716) | (2,844) | (2,269) | (2,049) | 66) | 700) | 927) | 824) | 3,530) | 6,122) | 6,609) | 1,852) | 2,075) | 685) | (6,354) | (8,182) | ||||||
| Operating revenue | 14,695) | 14,843) | 14,986) | 12,539) | 13,626) | 14,484) | 14,178) | 11,429) | 12,400) | 12,877) | 12,112) | 7,566) | 8,192) | 7,750) | 5,471) | 3,221) | 3,412) | 2,489) | 1,475) | 7,979) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | — | — | — | — | — | — | — | — | 681.14 | 58.21 | 38.43 | 35.17 | 6.98 | 3.24 | 2.21 | 5.72 | 7.40 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 18.07 | 21.26 | 18.06 | 17.45 | 17.94 | 21.22 | 22.52 | 16.22 | 15.35 | 16.74 | 13.05 | 13.06 | 12.13 | 9.67 | 8.17 | 9.27 | 11.46 | 31.44 | 26.10 | 22.61 | ||||||
| Uber Technologies Inc. | 57.19 | 9.33 | 18.50 | 18.54 | 20.23 | 28.22 | 17.25 | 65.98 | 80.50 | 83.47 | — | 1,646.62 | — | 9.53 | 129.39 | 10.72 | 3.69 | — | — | — | ||||||
| Union Pacific Corp. | — | — | 114.40 | — | — | — | — | — | — | — | — | — | — | — | — | — | 476.41 | — | — | — | ||||||
| United Parcel Service Inc. | 31.74 | 41.54 | 23.94 | 60.59 | 52.36 | 27.10 | 20.23 | 18.10 | 24.61 | 14.61 | 12.16 | 11.27 | 13.21 | 12.81 | 14.87 | 19.13 | 26.45 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Working capital turnover
= (Operating revenueQ4 2024
+ Operating revenueQ3 2024
+ Operating revenueQ2 2024
+ Operating revenueQ1 2024)
÷ Working capital
= (14,695 + 14,843 + 14,986 + 12,539)
÷ -4,431 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
United Airlines Holdings Inc., average inventory processing period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Inventory turnover | 36.30 | 34.16 | 33.12 | 32.73 | 34.41 | 34.69 | 39.44 | 40.82 | 40.54 | 36.51 | 30.89 | 27.13 | 25.06 | 20.79 | 16.00 | 11.54 | 16.48 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average inventory processing period1 | 10 | 11 | 11 | 11 | 11 | 11 | 9 | 9 | 9 | 10 | 12 | 13 | 15 | 18 | 23 | 32 | 22 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 3 | 3 | 3 | 3 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | ||||||
| Union Pacific Corp. | 12 | 12 | 12 | 12 | 11 | 12 | 11 | 11 | 11 | 12 | 12 | 12 | 10 | 11 | 12 | 12 | 12 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 36.30 = 10
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. |
Average Receivable Collection Period
United Airlines Holdings Inc., average receivable collection period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Receivables turnover | 26.38 | 27.42 | 23.42 | 24.27 | 28.30 | 23.94 | 25.39 | 21.47 | 24.96 | 20.03 | 16.07 | 14.05 | 14.81 | 11.62 | 8.14 | 7.63 | 11.86 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 14 | 13 | 16 | 15 | 13 | 15 | 14 | 17 | 15 | 18 | 23 | 26 | 25 | 31 | 45 | 48 | 31 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 42 | 41 | 44 | 42 | 41 | 42 | 45 | 43 | 46 | 46 | 50 | 47 | 52 | 53 | 56 | 54 | 53 | 49 | 51 | 49 | ||||||
| Uber Technologies Inc. | 28 | 32 | 34 | 35 | 33 | 30 | 27 | 28 | 32 | 31 | 35 | 42 | 51 | 33 | 34 | 36 | 35 | — | — | — | ||||||
| Union Pacific Corp. | 29 | 31 | 32 | 33 | 31 | 29 | 27 | 28 | 28 | 31 | 32 | 32 | 29 | 29 | 30 | 30 | 28 | — | — | — | ||||||
| United Parcel Service Inc. | 44 | 37 | 37 | 39 | 45 | 37 | 36 | 38 | 46 | 40 | 42 | 41 | 47 | 40 | 40 | 41 | 46 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 26.38 = 14
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | United Airlines Holdings Inc. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024. |
Operating Cycle
United Airlines Holdings Inc., operating cycle calculation (quarterly data)
No. days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 10 | 11 | 11 | 11 | 11 | 11 | 9 | 9 | 9 | 10 | 12 | 13 | 15 | 18 | 23 | 32 | 22 | — | — | — | ||||||
| Average receivable collection period | 14 | 13 | 16 | 15 | 13 | 15 | 14 | 17 | 15 | 18 | 23 | 26 | 25 | 31 | 45 | 48 | 31 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Operating cycle1 | 24 | 24 | 27 | 26 | 24 | 26 | 23 | 26 | 24 | 28 | 35 | 39 | 40 | 49 | 68 | 80 | 53 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 45 | 44 | 47 | 45 | 43 | 44 | 48 | 45 | 48 | 48 | 52 | 49 | 55 | 56 | 59 | 57 | 56 | 52 | 54 | 52 | ||||||
| Union Pacific Corp. | 41 | 43 | 44 | 45 | 42 | 41 | 38 | 39 | 39 | 43 | 44 | 44 | 39 | 40 | 42 | 42 | 40 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 10 + 14 = 24
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. |
Average Payables Payment Period
United Airlines Holdings Inc., average payables payment period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Payables turnover | 13.61 | 13.97 | 12.42 | 12.62 | 14.01 | 12.48 | 12.20 | 12.65 | 13.24 | 11.53 | 9.49 | 9.77 | 9.62 | 9.03 | 6.58 | 5.77 | 9.63 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 27 | 26 | 29 | 29 | 26 | 29 | 30 | 29 | 28 | 32 | 38 | 37 | 38 | 40 | 55 | 63 | 38 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 13 | 16 | 17 | 16 | 16 | 16 | 15 | 16 | 16 | 17 | 17 | 16 | 17 | 18 | 18 | 17 | 17 | 17 | 17 | 17 | ||||||
| Uber Technologies Inc. | 12 | 11 | 11 | 13 | 13 | 13 | 12 | 12 | 14 | 16 | 20 | 27 | 34 | 15 | 24 | 16 | 17 | — | — | — | ||||||
| United Parcel Service Inc. | 25 | 22 | 22 | 22 | 25 | 23 | 23 | 23 | 27 | 24 | 26 | 26 | 28 | 25 | 26 | 26 | 28 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.61 = 27
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | United Airlines Holdings Inc. number of days of payables outstanding decreased from Q2 2024 to Q3 2024 but then slightly increased from Q3 2024 to Q4 2024. |
Cash Conversion Cycle
United Airlines Holdings Inc., cash conversion cycle calculation (quarterly data)
No. days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 10 | 11 | 11 | 11 | 11 | 11 | 9 | 9 | 9 | 10 | 12 | 13 | 15 | 18 | 23 | 32 | 22 | — | — | — | ||||||
| Average receivable collection period | 14 | 13 | 16 | 15 | 13 | 15 | 14 | 17 | 15 | 18 | 23 | 26 | 25 | 31 | 45 | 48 | 31 | — | — | — | ||||||
| Average payables payment period | 27 | 26 | 29 | 29 | 26 | 29 | 30 | 29 | 28 | 32 | 38 | 37 | 38 | 40 | 55 | 63 | 38 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Cash conversion cycle1 | -3 | -2 | -2 | -3 | -2 | -3 | -7 | -3 | -4 | -4 | -3 | 2 | 2 | 9 | 13 | 17 | 15 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||
| FedEx Corp. | 32 | 28 | 30 | 29 | 27 | 28 | 33 | 29 | 32 | 31 | 35 | 33 | 38 | 38 | 41 | 40 | 39 | 35 | 37 | 35 | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q4 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 10 + 14 – 27 = -3
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. |