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Microsoft Excel LibreOffice Calc


Short-term (Operating) Activity Analysis

Difficulty: Beginner


Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Turnover Ratios
Inventory turnover hidden hidden hidden hidden hidden
Receivables turnover hidden hidden hidden hidden hidden
Payables turnover hidden hidden hidden hidden hidden
Working capital turnover hidden hidden hidden hidden hidden
Average No. of Days
Average inventory processing period hidden hidden hidden hidden hidden
Add: Average receivable collection period hidden hidden hidden hidden hidden
Operating cycle hidden hidden hidden hidden hidden
Less: Average payables payment period hidden hidden hidden hidden hidden
Cash conversion cycle hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Delta Air Lines Inc.'s inventory turnover deteriorated from 2015 to 2016 and from 2016 to 2017.
Receivables turnover An activity ratio equal to revenue divided by receivables. Delta Air Lines Inc.'s receivables turnover deteriorated from 2015 to 2016 and from 2016 to 2017.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Delta Air Lines Inc.'s payables turnover declined from 2015 to 2016 and from 2016 to 2017.
Working capital turnover An activity ratio calculated as revenue divided by working capital.
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.'s average inventory processing period deteriorated from 2015 to 2016 and from 2016 to 2017.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Delta Air Lines Inc.'s average receivable collection period deteriorated from 2015 to 2016 and from 2016 to 2017.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Delta Air Lines Inc.'s operating cycle deteriorated from 2015 to 2016 and from 2016 to 2017.
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.
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.'s cash conversion cycle deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

Inventory Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Cost of operating revenue hidden hidden hidden hidden hidden
Inventories hidden hidden hidden hidden hidden
Ratio
Inventory turnover1 hidden hidden hidden hidden hidden
Benchmarks
Inventory Turnover, Competitors
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Inventory Turnover, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Inventory Turnover, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Inventory turnover = Cost of operating revenue ÷ Inventories
= hidden ÷ hidden = hidden

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Delta Air Lines Inc.'s inventory turnover deteriorated from 2015 to 2016 and from 2016 to 2017.

Receivables Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Operating revenue hidden hidden hidden hidden hidden
Accounts receivable, net of an allowance for uncollectible accounts hidden hidden hidden hidden hidden
Ratio
Receivables turnover1 hidden hidden hidden hidden hidden
Benchmarks
Receivables Turnover, Competitors
Booking Holdings Inc. hidden hidden hidden hidden hidden
Marriott International Inc. hidden hidden hidden hidden hidden
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Receivables Turnover, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Receivables Turnover, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

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

Ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Delta Air Lines Inc.'s receivables turnover deteriorated from 2015 to 2016 and from 2016 to 2017.

Payables Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Cost of operating revenue hidden hidden hidden hidden hidden
Accounts payable hidden hidden hidden hidden hidden
Ratio
Payables turnover1 hidden hidden hidden hidden hidden
Benchmarks
Payables Turnover, Competitors
Booking Holdings Inc. hidden hidden hidden hidden hidden
Marriott International Inc. hidden hidden hidden hidden hidden
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Payables Turnover, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Payables Turnover, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Payables turnover = Cost of operating revenue ÷ Accounts payable
= hidden ÷ hidden = hidden

Ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Delta Air Lines Inc.'s payables turnover declined from 2015 to 2016 and from 2016 to 2017.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Current assets hidden hidden hidden hidden hidden
Less: Current liabilities hidden hidden hidden hidden hidden
Working capital hidden hidden hidden hidden hidden
Operating revenue hidden hidden hidden hidden hidden
Ratio
Working capital turnover1 hidden hidden hidden hidden hidden
Benchmarks
Working Capital Turnover, Competitors
Booking Holdings Inc. hidden hidden hidden hidden hidden
Marriott International Inc. hidden hidden hidden hidden hidden
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Working Capital Turnover, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Working Capital Turnover, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Working capital turnover = Operating revenue ÷ Working capital
= hidden ÷ hidden = hidden

Ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Inventory turnover hidden hidden hidden hidden hidden
Ratio (no. of days)
Average inventory processing period1 hidden hidden hidden hidden hidden
Benchmarks (no. of days)
Average Inventory Processing Period, Competitors
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Average Inventory Processing Period, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Average Inventory Processing Period, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ hidden = hidden

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.'s average inventory processing period deteriorated from 2015 to 2016 and from 2016 to 2017.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Receivables turnover hidden hidden hidden hidden hidden
Ratio (no. of days)
Average receivable collection period1 hidden hidden hidden hidden hidden
Benchmarks (no. of days)
Average Receivable Collection Period, Competitors
Booking Holdings Inc. hidden hidden hidden hidden hidden
Marriott International Inc. hidden hidden hidden hidden hidden
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Average Receivable Collection Period, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Average Receivable Collection Period, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ hidden = hidden

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.'s average receivable collection period deteriorated from 2015 to 2016 and from 2016 to 2017.

Operating Cycle

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

No. of days

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Average inventory processing period hidden hidden hidden hidden hidden
Average receivable collection period hidden hidden hidden hidden hidden
Ratio
Operating cycle1 hidden hidden hidden hidden hidden
Benchmarks
Operating Cycle, Competitors
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Operating Cycle, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Operating Cycle, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Operating cycle = Average inventory processing period + Average receivable collection period
= hidden + hidden = hidden

Ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Delta Air Lines Inc.'s operating cycle deteriorated from 2015 to 2016 and from 2016 to 2017.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Payables turnover hidden hidden hidden hidden hidden
Ratio (no. of days)
Average payables payment period1 hidden hidden hidden hidden hidden
Benchmarks (no. of days)
Average Payables Payment Period, Competitors
Booking Holdings Inc. hidden hidden hidden hidden hidden
Marriott International Inc. hidden hidden hidden hidden hidden
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Average Payables Payment Period, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Average Payables Payment Period, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ hidden = hidden

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.

Cash Conversion Cycle

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

No. of days

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Average inventory processing period hidden hidden hidden hidden hidden
Average receivable collection period hidden hidden hidden hidden hidden
Average payables payment period hidden hidden hidden hidden hidden
Ratio
Cash conversion cycle1 hidden hidden hidden hidden hidden
Benchmarks
Cash Conversion Cycle, Competitors
McDonald's Corp. hidden hidden hidden hidden hidden
Starbucks Corp. hidden hidden hidden hidden hidden
Cash Conversion Cycle, Sector
Travel & Leisure hidden hidden hidden hidden hidden
Cash Conversion Cycle, Industry
Consumer Services hidden hidden hidden hidden hidden

Source: Based on data from Delta Air Lines Inc. Annual Reports

2017 Calculations

1 Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= hidden + hiddenhidden = hidden

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.'s cash conversion cycle deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.