Delta Air Lines Inc (DAL)
Return on total capital
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 6,411,000 | 5,520,000 | 5,668,000 | 5,140,000 | 4,168,000 | 3,662,000 | 2,455,000 | 3,204,000 | 2,501,000 | 1,886,000 | 765,000 | -7,826,000 | -13,457,000 | -12,469,000 | -10,212,000 | -1,755,000 | 5,188,000 | 6,618,000 | 6,309,000 | 5,883,000 |
| Long-term debt | US$ in thousands | 15,576,000 | 15,985,000 | 16,347,000 | 16,870,000 | 18,490,000 | 19,326,000 | 19,800,000 | 21,444,000 | 22,939,000 | 23,582,000 | 24,077,000 | 25,246,000 | 24,802,000 | 26,531,000 | 28,910,000 | 18,539,000 | 11,750,000 | 8,052,000 | 7,072,000 | 7,209,000 |
| Total stockholders’ equity | US$ in thousands | 11,151,000 | 11,105,000 | 9,226,000 | 8,100,000 | 6,260,000 | 6,582,000 | 4,590,000 | 3,811,000 | 2,991,000 | 3,887,000 | 2,606,000 | 1,281,000 | 482,000 | 1,534,000 | 3,357,000 | 8,690,000 | 14,309,000 | 15,358,000 | 15,068,000 | 13,958,000 |
| Return on total capital | 23.99% | 20.38% | 22.16% | 20.58% | 16.84% | 14.13% | 10.07% | 12.69% | 9.65% | 6.87% | 2.87% | -29.50% | -53.22% | -44.43% | -31.65% | -6.45% | 19.91% | 28.27% | 28.50% | 27.79% |
March 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $6,411,000K ÷ ($15,576,000K + $11,151,000K)
= 23.99%
Delta Air Lines Inc's return on total capital has shown a fluctuating trend over the past few quarters. The ratio increased from 27.79% in June 2019 to a peak of 23.99% in March 2024. This indicates that the company has been generating a relatively high return on its total capital invested in recent quarters. However, there were periods of significant decline in the return on total capital, notably in the second half of 2021 and the first quarter of 2021, with negative values recorded in those quarters. It is worth noting that the return on total capital has shown volatility, pointing to fluctuations in the company's profitability and efficiency in utilizing its capital resources. Further analysis and monitoring of Delta Air Lines Inc's performance are recommended to understand the underlying factors driving these fluctuations in return on total capital.
Peer comparison
Mar 31, 2024