Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Delta Air Lines Inc., profitability ratios
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).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Delta Air Lines Inc. gross profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Delta Air Lines Inc. operating profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Delta Air Lines Inc. net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Delta Air Lines Inc. ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| ROA | A profitability ratio calculated as net income divided by total assets. | Delta Air Lines Inc. ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Gross Profit Margin
Delta Air Lines Inc., gross profit margin calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Gross profit | 15,504) | 6,400) | 27,076) | 24,996) | 23,886) | |
| Operating revenue | 29,899) | 17,095) | 47,007) | 44,438) | 41,244) | |
| Profitability Ratio | ||||||
| Gross profit margin1 | 51.85% | 37.44% | 57.60% | 56.25% | 57.91% | |
| Benchmarks | ||||||
| Gross Profit Margin, Competitors2 | ||||||
| Uber Technologies Inc. | 46.43% | 53.73% | 49.05% | — | — | |
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).
1 2021 Calculation
Gross profit margin = 100 × Gross profit ÷ Operating revenue
= 100 × 15,504 ÷ 29,899 = 51.85%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Delta Air Lines Inc. gross profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Operating Profit Margin
Delta Air Lines Inc., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income (loss) | 1,886) | (12,469) | 6,618) | 5,264) | 6,114) | |
| Operating revenue | 29,899) | 17,095) | 47,007) | 44,438) | 41,244) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 6.31% | -72.94% | 14.08% | 11.85% | 14.82% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| FedEx Corp. | 6.98% | 3.49% | 6.41% | 7.44% | — | |
| Uber Technologies Inc. | -21.97% | -43.66% | -60.76% | — | — | |
| Union Pacific Corp. | 42.83% | 40.11% | 39.40% | — | — | |
| United Parcel Service Inc. | 13.17% | 9.08% | 10.52% | — | — | |
| Operating Profit Margin, Sector | ||||||
| Transportation | 10.96% | 7.08% | 6.80% | — | — | |
| Operating Profit Margin, Industry | ||||||
| Industrials | 9.86% | 4.69% | 9.74% | — | — | |
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).
1 2021 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Operating revenue
= 100 × 1,886 ÷ 29,899 = 6.31%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Delta Air Lines Inc. operating profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Net Profit Margin
Delta Air Lines Inc., net profit margin calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 280) | (12,385) | 4,767) | 3,935) | 3,577) | |
| Operating revenue | 29,899) | 17,095) | 47,007) | 44,438) | 41,244) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 0.94% | -72.45% | 10.14% | 8.86% | 8.67% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| FedEx Corp. | 6.23% | 1.86% | 0.77% | 6.99% | — | |
| Uber Technologies Inc. | -2.84% | -60.76% | -60.13% | — | — | |
| Union Pacific Corp. | 29.92% | 27.38% | 27.27% | — | — | |
| United Parcel Service Inc. | 13.25% | 1.59% | 5.99% | — | — | |
| Net Profit Margin, Sector | ||||||
| Transportation | 10.95% | 0.66% | 1.33% | — | — | |
| Net Profit Margin, Industry | ||||||
| Industrials | 6.53% | 1.71% | 4.12% | — | — | |
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).
1 2021 Calculation
Net profit margin = 100 × Net income (loss) ÷ Operating revenue
= 100 × 280 ÷ 29,899 = 0.94%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Delta Air Lines Inc. net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Return on Equity (ROE)
Delta Air Lines Inc., ROE calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 280) | (12,385) | 4,767) | 3,935) | 3,577) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Profitability Ratio | ||||||
| ROE1 | 7.20% | -807.37% | 31.04% | 28.75% | 25.72% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| FedEx Corp. | 21.64% | 7.03% | 3.04% | 23.55% | — | |
| Uber Technologies Inc. | -3.43% | -55.18% | -59.94% | — | — | |
| Union Pacific Corp. | 46.06% | 31.54% | 32.65% | — | — | |
| United Parcel Service Inc. | 90.44% | 204.41% | 135.90% | — | — | |
| ROE, Sector | ||||||
| Transportation | 36.02% | 2.51% | 4.49% | — | — | |
| ROE, Industry | ||||||
| Industrials | 16.89% | 4.68% | 14.46% | — | — | |
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).
1 2021 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 280 ÷ 3,887 = 7.20%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Delta Air Lines Inc. ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Return on Assets (ROA)
Delta Air Lines Inc., ROA calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 280) | (12,385) | 4,767) | 3,935) | 3,577) | |
| Total assets | 72,459) | 71,996) | 64,532) | 60,266) | 53,292) | |
| Profitability Ratio | ||||||
| ROA1 | 0.39% | -17.20% | 7.39% | 6.53% | 6.71% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| FedEx Corp. | 6.32% | 1.75% | 0.99% | 8.74% | — | |
| Uber Technologies Inc. | -1.28% | -20.35% | -26.78% | — | — | |
| Union Pacific Corp. | 10.27% | 8.57% | 9.60% | — | — | |
| United Parcel Service Inc. | 18.57% | 2.15% | 7.67% | — | — | |
| ROA, Sector | ||||||
| Transportation | 9.49% | 0.52% | 1.16% | — | — | |
| ROA, Industry | ||||||
| Industrials | 3.95% | 0.89% | 2.57% | — | — | |
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).
1 2021 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 280 ÷ 72,459 = 0.39%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | Delta Air Lines Inc. ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |