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Microsoft Excel LibreOffice Calc

Delta Air Lines Inc. (DAL)


Price to FCFE (P/FCFE)

Difficulty: Intermediate


Free Cash Flow to Equity (FCFE)

Delta Air Lines Inc., FCFE calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net income hidden hidden hidden hidden hidden
Net noncash charges hidden hidden hidden hidden hidden
Changes in certain assets and liabilities hidden hidden hidden hidden hidden
Net cash provided by operating activities hidden hidden hidden hidden hidden
Property and equipment additions hidden hidden hidden hidden hidden
Payments on long-term debt and finance lease obligations hidden hidden hidden hidden hidden
Proceeds from long-term obligations hidden hidden hidden hidden hidden
Free cash flow to equity (FCFE) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-11).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Delta Air Lines Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Delta Air Lines Inc.’s FCFE declined from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level.

Price to FCFE Ratio, Current

Delta Air Lines Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
No. shares of common stock outstanding hidden
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) hidden
FCFE per share hidden
Current share price (P) hidden
Valuation Ratio
P/FCFE hidden
Benchmarks
P/FCFE, Competitors1
Booking Holdings Inc. hidden
Marriott International Inc. hidden
McDonald’s Corp. hidden
Starbucks Corp. hidden
P/FCFE, Sector
Travel & Leisure hidden
P/FCFE, Industry
Consumer Services hidden

Based on: 10-K (filing date: 2019-02-15).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Delta Air Lines Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
No. shares of common stock outstanding1 hidden hidden hidden hidden hidden
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 hidden hidden hidden hidden hidden
FCFE per share3 hidden hidden hidden hidden hidden
Share price1, 4 hidden hidden hidden hidden hidden
Valuation Ratio
P/FCFE5 hidden hidden hidden hidden hidden
Benchmarks
P/FCFE, Competitors6
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
P/FCFE, Sector
Travel & Leisure hidden hidden hidden hidden hidden
P/FCFE, Industry
Consumer Services hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-11).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2018 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= hidden ÷ hidden = hidden

4 Closing price as at the filing date of Delta Air Lines Inc.’s Annual Report.

5 2018 Calculation
P/FCFE = Share price ÷ FCFE per share
= hidden ÷ hidden = hidden

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Delta Air Lines Inc.’s P/FCFE ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.