Delta Air Lines (DAL) Financials

$39.2 B

Mkt cap, 25-May-2018

$10 B

Revenue Q1, 2018
Net income (Q1, 2018)547 M
EBIT (Q1, 2018)840 M
Cash, 31-Mar-20181.4 B

Revenue/Financials

Income Statement

Annual

USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

31.8 b35.1 b36.7 b37.8 b40.4 b40.7 b39.6 b

Revenue growth, %

11%4%3%7%1%(3%)

EBIT

3.4 b2.2 b7.8 b7 b

EBIT margin, %

9%5%19%18%

Interest expense

698 m650 m481 m388 m

Pre tax profit

2.5 b1.1 b7.2 b6.6 b

Income tax expense

15 m(85 m)16 m8 b413 m2.6 b2.3 b

Net Income

10.5 b659 m4.5 b4.4 b

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

10.5 b8.9 b10.6 b11.2 b9.4 b10.7 b11.1 b9.3 b10.4 b10.5 b9.1 b10.8 b11.1 b10 b

Operating expense total

8.9 b8.3 b9 b10.3 b8 b8.2 b8.9 b7.7 b8 b8.5 b8.1 b8.8 b9.2 b9.1 b

Depreciation and amortization

610 m

EBIT

1.6 b620 m1.6 b835 m1.4 b2.5 b2.2 b1.5 b2.4 b2 b1.1 b2 b1.8 b840 m

EBIT margin, %

15%7%15%7%15%23%20%17%23%19%12%19%17%8%

Interest expense

176 m165 m155 m140 m131 m127 m121 m107 m93 m95 m94 m103 m100 m102 m

Pre tax profit

1.4 b335 m1.3 b579 m1.2 b2.4 b2.1 b1.4 b2.4 b1.9 b915 m1.9 b1.8 b718 m

Income tax expense

6 m(122 m)(497 m)(222 m)(440 m)(881 m)(757 m)(488 m)(804 m)(641 m)(312 m)(667 m)(627 m)(171 m)

Net Income

1.4 b213 m801 m357 m746 m1.5 b1.3 b946 m1.5 b1.3 b603 m1.2 b1.2 b547 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

2.8 b2.1 b2 b2.8 b

Current Assets

9.7 b12.5 b9.1 b7.5 b

Goodwill

9.8 b9.8 b9.8 b9.8 b

Total Assets

52.3 b54.1 b53.1 b51.3 b

Accounts Payable

2.3 b2.6 b2.7 b2.6 b

Current Liabilities

14.2 b16.9 b17.5 b15.2 b

Non-Current Liabilities

26.5 b28.4 b24.8 b23.7 b

Total Liabilities

40.6 b45.3 b42.3 b39 b

Additional Paid-in Capital

14 b13 b10.9 b12.3 b

Retained Earnings

3 b3.5 b7.6 b7.9 b

Total Equity

11.6 b8.8 b10.9 b12.3 b

Financial Leverage

4.5 x6.1 x4.9 x4.2 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

3 b2.7 b3.4 b2.5 b2.1 b2.3 b2.4 b1.7 b1.7 b1.6 b1.9 b2.2 b1.5 b1.4 b

Current Assets

9 b9.7 b10.5 b11 b12.3 b11.4 b12 b9.3 b7.6 b7.3 b6.9 b7.2 b7.1 b7.7 b

Goodwill

9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b9.8 b

Total Assets

46 b52.2 b52.2 b51.9 b53.8 b52.8 b53.6 b53.3 b51.6 b50.9 b51.5 b51.8 b51.9 b54.1 b

Accounts Payable

2.6 b2.3 b2.5 b2.6 b2.5 b2.8 b2.7 b2.7 b3 b2.6 b2.4 b2.7 b3.1 b3.4 b

Current Liabilities

14.1 b15 b15.2 b14.8 b17.3 b17.1 b17.6 b18.1 b16.3 b15.1 b16 b16.6 b16.5 b20 b

Non-Current Liabilities

31.7 b25.5 b24.8 b24.8 b27.4 b26.1 b25.7 b24 b23.6 b23.3 b22.6 b21.7 b21.4 b21.5 b

Common Stock

Additional Paid-in Capital

14.1 b13.9 b13.7 b13.5 b12.6 b11.7 b11.3 b10.3 b9.4 b8.9 b12.4 b12.3 b12.1 b12 b

Retained Earnings

(5.4 b)3.2 b4 b4.2 b4.1 b5.5 b6.7 b8.5 b10 b11.1 b8.2 b8.9 b9.5 b8.5 b

Total Equity

137 m11.6 b12.2 b12.3 b9 b9.6 b10.3 b11.3 b11.8 b12.5 b12.9 b13.5 b14 b12.6 b

Financial Leverage

335.7 x4.5 x4.3 x4.2 x5.9 x5.5 x5.2 x4.7 x4.4 x4.1 x4 x3.8 x3.7 x4.3 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

10.5 b659 m4.5 b4.4 b

Depreciation and Amortization

1.9 b

Inventories

28 m58 m(102 m)(26 m)

Cash From Operating Activities

4.5 b4.9 b7.9 b7.2 b

Cash From Investing Activities

(2.8 b)(2.5 b)(4 b)(2.2 b)

Cash From Financing Activities

(1.3 b)(3.2 b)(4.1 b)(4.3 b)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

1.4 b213 m801 m357 m746 m1.5 b1.3 b946 m1.5 b1.3 b603 m1.2 b

Depreciation and Amortization

418 m442 m451 m440 m470 m448 m466 m486 m470 m474 m540 m535 m

Cash From Operating Activities

1.3 b

Cash From Investing Activities

(927 m)

Cash From Financing Activities

(787 m)

Ratios

USDY, 2018

Financial Leverage

4.3 x
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Operating Metrics

Delta Air Lines's Daily Flights was reported to be 15 k in Y, 2016.
FY, 2013Y, 2013FY, 2014Y, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Y, 2015Q1, 2016Q2, 2016Q3, 2017Y, 2016FY, 2016Q1, 2017Q2, 2017

Available Seat Miles

232.74 b239.68 b56.60 b63.94 b68.03 b246.76 b58.15 b65.98 m69.03 b251.87 b57.87 b66.23 m

Average Fuel Cost Per Gallon

$3.47 $2.29 $1.70 $1.89 $1.90 $1.33 $1.38 $1.50 $1.49 $1.71 $1.61

Cargo Tonne Miles

2.35 b2.37 b2.19 b1.98 b

Cost per Available Seat Mile

$0.15 $0.16 $0.14 $0.13 $0.13 $0.13 $0.13 $0.12 $0.12 $0.13 $0.14 $0.13

Daily Flights

15 k15 k15 k15 k

Destinations

322 327 328 323

Fuel Gallons Consumed

3.89 b918 m1.03 b1.10 b3.99 b930 m1.05 b1.10 b4.02 b918 m1.05 b

Mainline Aircraft in Fleet

743 772 786 800 809 809 814 822 830 832 846 847

Passenger Load Factor

83.8%84.7%81.7%85.6%86.8%84.9%82.1%85.5%85.4%84.6%82.9%86.9%

Passengers

164.66 m171.36 m179.39 m183.74 m

Revenue Passenger Miles

194.99 b202.93 b46.22 b54.76 b59.08 b209.63 b47.73 b56.42 m58.97 b213.10 b47.95 b57.58 m
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Human Capital

Ethnicity

Y, 2016
Hispanic9 %
White60 %
Black21 %
Asian8 %
Other2 %
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