Current Ratio
since 2007
Calculation
Delta Air Lines Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.76 | = | 15,940) | ÷ | 20,966) |
| Dec 31, 2020 | 1.09 | = | 17,404) | ÷ | 15,927) |
| Dec 31, 2019 | 0.41 | = | 8,249) | ÷ | 20,204) |
| Dec 31, 2018 | 0.34 | = | 6,340) | ÷ | 18,578) |
| Dec 31, 2017 | 0.42 | = | 7,844) | ÷ | 18,573) |
| Dec 31, 2016 | 0.49 | = | 7,451) | ÷ | 15,239) |
| Dec 31, 2015 | 0.52 | = | 9,056) | ÷ | 17,526) |
| Dec 31, 2014 | 0.74 | = | 12,465) | ÷ | 16,879) |
| Dec 31, 2013 | 0.68 | = | 9,651) | ÷ | 14,152) |
| Dec 31, 2012 | 0.62 | = | 8,272) | ÷ | 13,270) |
| Dec 31, 2011 | 0.61 | = | 7,729) | ÷ | 12,701) |
| Dec 31, 2010 | 0.64 | = | 7,307) | ÷ | 11,385) |
| Dec 31, 2009 | 0.79 | = | 7,741) | ÷ | 9,797) |
| Dec 31, 2008 | 0.81 | = | 8,904) | ÷ | 11,022) |
| Dec 31, 2007 | 0.79 | = | 5,240) | ÷ | 6,605) |
Based on: 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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31).
1 US$ in millions
The liquidity profile exhibits a long-term trend where current assets generally remain below current liabilities, with one significant exception in 2020. For the majority of the period between 2007 and 2021, the current ratio remained below 1.0, indicating a consistent operational structure where short-term obligations exceeded liquid assets.
- Period of Relative Stability (2007–2014)
- From 2007 to 2009, the current ratio remained stable, fluctuating narrowly between 0.79 and 0.81. A subsequent decline occurred between 2010 and 2011, reaching 0.61, before a recovery trend brought the ratio back to 0.74 by 2014. This period was characterized by a general expansion of both current assets and current liabilities, suggesting a proportional growth in short-term operational scale.
- Liquidity Deterioration (2015–2018)
- A significant downward trend is observed from 2015 to 2018, during which the current ratio fell from 0.52 to a period low of 0.34. This deterioration was driven by a combination of contracting current assets, which decreased from 9,056 million US$ in 2015 to 6,340 million US$ in 2018, and steadily increasing current liabilities, which reached 18,578 million US$ in 2018.
- Volatility and Anomalous Peak (2019–2021)
- The liquidity position shifted abruptly in 2020, with the current ratio rising to 1.09, marking the only instance in the analyzed timeframe where current assets exceeded current liabilities. This spike was driven by a substantial increase in current assets to 17,404 million US$ and a decrease in current liabilities to 15,927 million US$. This trend reversed in 2021, as the current ratio declined to 0.76, resulting from a sharp increase in current liabilities to 20,966 million US$, thereby returning the liquidity profile to its historical range.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
Delta Air Lines Inc., current ratio, long-term trends, comparison to competitors
| Delta Air Lines Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 0.76 | 1.51 | 0.98 | 0.62 | 1.19 | 1.42 |
| Dec 31, 2020 | 1.09 | 1.58 | 1.44 | 1.01 | 1.16 | 1.19 |
| Dec 31, 2019 | 0.41 | 1.45 | 2.47 | 0.79 | 0.55 | 1.11 |
| Dec 31, 2018 | 0.34 | 1.39 | — | 0.90 | 0.54 | 1.15 |
| Dec 31, 2017 | 0.42 | 1.59 | — | 1.02 | 0.56 | 1.22 |
| Dec 31, 2016 | 0.49 | 1.50 | — | 0.99 | 0.59 | 1.18 |
| Dec 31, 2015 | 0.52 | 1.84 | — | 1.29 | 0.63 | 1.23 |
| Dec 31, 2014 | 0.74 | 1.82 | — | 1.24 | 0.65 | 1.37 |
| Dec 31, 2013 | 0.68 | 1.96 | — | 1.05 | 0.72 | 1.88 |
| Dec 31, 2012 | 0.62 | 1.69 | — | 1.16 | 0.78 | 1.86 |
| Dec 31, 2011 | 0.61 | 1.70 | — | 1.12 | 0.97 | 1.89 |
| Dec 31, 2010 | 0.64 | 1.57 | — | 1.16 | 0.95 | 1.96 |
| Dec 31, 2009 | 0.79 | 1.57 | — | 1.37 | 0.79 | 1.49 |
| Dec 31, 2008 | 0.81 | 1.35 | — | 0.98 | 0.67 | 1.13 |
| Dec 31, 2007 | 0.79 | 1.22 | — | 0.85 | 0.76 | 1.20 |
Based on: 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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31).
Comparison to Sector (Transportation)
Delta Air Lines Inc., current ratio, long-term trends, comparison to sector (transportation)
| Delta Air Lines Inc. | Transportation | |
|---|---|---|
| Dec 31, 2021 | 0.76 | 1.24 |
| Dec 31, 2020 | 1.09 | 1.28 |
| Dec 31, 2019 | 0.41 | 1.13 |
| Dec 31, 2018 | 0.34 | 0.98 |
| Dec 31, 2017 | 0.42 | 1.06 |
| Dec 31, 2016 | 0.49 | 1.03 |
| Dec 31, 2015 | 0.52 | 1.12 |
| Dec 31, 2014 | 0.74 | 1.14 |
| Dec 31, 2013 | 0.68 | 1.30 |
| Dec 31, 2012 | 0.62 | 1.29 |
| Dec 31, 2011 | 0.61 | 1.35 |
| Dec 31, 2010 | 0.64 | 1.31 |
| Dec 31, 2009 | 0.79 | 1.26 |
| Dec 31, 2008 | 0.81 | 1.02 |
| Dec 31, 2007 | 0.79 | 1.03 |
Based on: 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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31).
Comparison to Industry (Industrials)
Delta Air Lines Inc., current ratio, long-term trends, comparison to industry (industrials)
| Delta Air Lines Inc. | Industrials | |
|---|---|---|
| Dec 31, 2021 | 0.76 | 1.29 |
| Dec 31, 2020 | 1.09 | 1.41 |
| Dec 31, 2019 | 0.41 | 1.16 |
| Dec 31, 2018 | 0.34 | 1.13 |
| Dec 31, 2017 | 0.42 | 1.24 |
| Dec 31, 2016 | 0.49 | 1.22 |
| Dec 31, 2015 | 0.52 | 1.24 |
| Dec 31, 2014 | 0.74 | 1.26 |
| Dec 31, 2013 | 0.68 | 1.33 |
| Dec 31, 2012 | 0.62 | 1.30 |
| Dec 31, 2011 | 0.61 | 1.30 |
| Dec 31, 2010 | 0.64 | 1.28 |
| Dec 31, 2009 | 0.79 | 1.23 |
| Dec 31, 2008 | 0.81 | 1.06 |
| Dec 31, 2007 | 0.79 | 1.07 |
Based on: 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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31).