Return on Equity (ROE)
since 2007
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Delta Air Lines Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2007
- Price to Book Value (P/BV) since 2007
- Price to Sales (P/S) since 2007
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Calculation
Delta Air Lines Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss)1 | ÷ | Stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | = | 100 | × | ÷ | |||
| Dec 31, 2020 | = | 100 | × | ÷ | |||
| Dec 31, 2019 | = | 100 | × | ÷ | |||
| Dec 31, 2018 | = | 100 | × | ÷ | |||
| Dec 31, 2017 | = | 100 | × | ÷ | |||
| Dec 31, 2016 | = | 100 | × | ÷ | |||
| Dec 31, 2015 | = | 100 | × | ÷ | |||
| Dec 31, 2014 | = | 100 | × | ÷ | |||
| Dec 31, 2013 | = | 100 | × | ÷ | |||
| Dec 31, 2012 | = | 100 | × | ÷ | |||
| Dec 31, 2011 | = | 100 | × | ÷ | |||
| Dec 31, 2010 | = | 100 | × | ÷ | |||
| Dec 31, 2009 | = | 100 | × | ÷ | |||
| Dec 31, 2008 | = | 100 | × | ÷ | |||
| Dec 31, 2007 | = | 100 | × | ÷ |
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
- Net Income (Loss)
- The net income demonstrated significant volatility over the analyzed period. Starting with a positive figure in 2007, the company experienced substantial losses in 2008 and 2009, with a peak loss in 2008. Recovery began in 2010 with modest profits, followed by steady growth reaching the highest net income in 2013. After a sharp decline in 2014, net income rebounded strongly, peaking again in 2019. However, a steep decline occurred in 2020, coinciding with the global economic disruption, resulting in a significant loss. A slight recovery was observed in 2021, though results remained far below earlier peaks.
- Stockholders’ Equity (Deficit)
- The stockholders’ equity showed considerable fluctuation throughout the period. Beginning from a substantial positive equity in 2007, a sharp erosion occurred in 2008 and 2009, resulting in negative equity in 2011 and 2012. Recovery ensued from 2013 onward, with equity reaching its highest level in 2019. Despite the challenges of 2020, the equity position remained positive, although reduced compared to the prior year. By 2021, stockholders’ equity showed moderate growth, suggesting partial stabilization after the downturn.
- Return on Equity (ROE)
- The return on equity closely mirrored the trends in net income, reflecting the company’s profitability relative to shareholder investments. ROE turned sharply negative in 2008 and 2009, indicating significant losses relative to equity. Positive recovery was noted from 2010 through 2013, with ROE peaking notably in 2013. After a dip in 2014, ROE exhibited strong positive returns through 2019. The ratio again plummeted to a substantial negative value in 2020, attributable to the large net loss that year. The modest positive ROE in 2021 reflected slight improvement in profitability despite ongoing challenges.
Comparison to Competitors
Delta Air Lines Inc., ROE, 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 | ||||||
| Dec 31, 2020 | ||||||
| Dec 31, 2019 | ||||||
| Dec 31, 2018 | ||||||
| Dec 31, 2017 | ||||||
| Dec 31, 2016 | ||||||
| Dec 31, 2015 | ||||||
| Dec 31, 2014 | ||||||
| Dec 31, 2013 | ||||||
| Dec 31, 2012 | ||||||
| Dec 31, 2011 | ||||||
| Dec 31, 2010 | ||||||
| Dec 31, 2009 | ||||||
| Dec 31, 2008 | ||||||
| Dec 31, 2007 |
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., ROE, long-term trends, comparison to sector (transportation)
| Delta Air Lines Inc. | Transportation | |
|---|---|---|
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 |
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., ROE, long-term trends, comparison to industry (industrials)
| Delta Air Lines Inc. | Industrials | |
|---|---|---|
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 |
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).