Stock Analysis on Net

Delta Air Lines Inc. (NYSE:DAL)

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Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel LibreOffice Calc

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Short-term Activity Ratios (Summary)

Delta Air Lines Inc., short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Delta Air Lines Inc. inventory turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Receivables turnover An activity ratio equal to revenue divided by receivables. Delta Air Lines Inc. receivables turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Delta Air Lines Inc. payables turnover ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

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. Delta Air Lines Inc. number of days of inventory outstanding improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Delta Air Lines Inc. number of days of receivables outstanding improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Delta Air Lines Inc. operating cycle improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.
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. Delta Air Lines Inc. number of days of payables outstanding decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.
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. Delta Air Lines Inc. cash conversion cycle deteriorated from 2017 to 2018 and from 2018 to 2019.

Inventory Turnover

Delta Air Lines Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Cost of operating revenue
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Inventory Turnover, Sector
Transportation
Inventory Turnover, Industry
Industrials

Based on: 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).

1 2019 Calculation
Inventory turnover = Cost of operating revenue ÷ Inventories
= ÷ =

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. Delta Air Lines Inc. inventory turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Receivables Turnover

Delta Air Lines Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Operating revenue
Accounts receivable, net of an allowance for uncollectible accounts
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Receivables Turnover, Sector
Transportation
Receivables Turnover, Industry
Industrials

Based on: 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).

1 2019 Calculation
Receivables turnover = Operating revenue ÷ Accounts receivable, net of an allowance for uncollectible accounts
= ÷ =

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. Delta Air Lines Inc. receivables turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Payables Turnover

Delta Air Lines Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Cost of operating revenue
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Payables Turnover, Sector
Transportation
Payables Turnover, Industry
Industrials

Based on: 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).

1 2019 Calculation
Payables turnover = Cost of operating revenue ÷ Accounts payable
= ÷ =

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. Delta Air Lines Inc. payables turnover ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Working Capital Turnover

Delta Air Lines Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Operating revenue
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Working Capital Turnover, Sector
Transportation
Working Capital Turnover, Industry
Industrials

Based on: 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).

1 2019 Calculation
Working capital turnover = Operating revenue ÷ Working capital
= ÷ =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Delta Air Lines Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Average Inventory Processing Period, Sector
Transportation
Average Inventory Processing Period, Industry
Industrials

Based on: 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).

1 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

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. Delta Air Lines Inc. number of days of inventory outstanding improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Average Receivable Collection Period

Delta Air Lines Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Average Receivable Collection Period, Sector
Transportation
Average Receivable Collection Period, Industry
Industrials

Based on: 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).

1 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

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. Delta Air Lines Inc. number of days of receivables outstanding improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Operating Cycle

Delta Air Lines Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Operating Cycle, Sector
Transportation
Operating Cycle, Industry
Industrials

Based on: 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).

1 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

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. Delta Air Lines Inc. operating cycle improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Average Payables Payment Period

Delta Air Lines Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Average Payables Payment Period, Sector
Transportation
Average Payables Payment Period, Industry
Industrials

Based on: 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).

1 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

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. Delta Air Lines Inc. number of days of payables outstanding decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Cash Conversion Cycle

Delta Air Lines Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Cash Conversion Cycle, Sector
Transportation
Cash Conversion Cycle, Industry
Industrials

Based on: 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).

1 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + =

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. Delta Air Lines Inc. cash conversion cycle deteriorated from 2017 to 2018 and from 2018 to 2019.