Delta Air Lines Inc. (NYSE:DAL)

The analysis of the financial data over the period indicates several notable trends and fluctuations in the share price, operating profit per share, and the price-to-operating profit (P/OP) ratio.

Share Price

The share price experienced significant volatility from 2008 to 2022. It declined sharply from $17.32 in early 2008 to a low of $4.59 in early 2009. Following this, it showed a recovery trend, gradually increasing to reach a peak of $59.13 by early 2020. However, during 2021, likely influenced by external factors, the share price dropped to $43.29 and slightly decreased further to $42.33 by early 2022. Overall, there was a pronounced upward trend post-2009, despite some variability.

Operating Profit Per Share (OPPS)

The operating profit per share displayed considerable fluctuations throughout the period. It began positively at $3.75 in 2008 but plunged into negative territory at -$11.90 in early 2009, reflecting operational challenges. This metric rebounded and showed improvement over subsequent years, reaching highs of $10.02 in 2016 and $10.34 in 2020, suggesting periods of strong operational performance. Conversely, in 2021, a significant decline to -$19.54 occurred, indicating a challenging environment affecting profitability. By early 2022, OPPS improved to $2.95, signaling partial recovery.

Price-to-Operating Profit (P/OP) Ratio

The P/OP ratio illustrated variability throughout the years, with some missing values. Early in the period, the ratio was relatively low, around 4.62 in 2008 and 4.45 in 2011, indicating a lower share price relative to operating profits or possibly depressed share prices. The ratio climbed notably in some years, peaking at 16.81 in 2015, reflecting a higher valuation relative to operating profit, possibly due to investor optimism or expectations. This ratio subsequently moderated, with values between approximately 4.19 and 6.59 from 2016 through 2019. Data for 2021 is missing, but in 2022 the ratio rose again to 14.36, potentially driven by a decrease in operating profit per share combined with a relatively stable share price.

In summary, the financial data reveals the company faced significant operational and market challenges around 2009 and 2021, with corresponding impacts visible in operating profits and share price. Periods of recovery and growth are also evident, particularly between 2010 and 2020, marked by improving operating profits and increasing share prices. The fluctuating P/OP ratio highlights changing market perceptions of the company's operational efficiency and valuation across the years.