Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Delta Air Lines Inc., liquidity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.76 | 1.09 | 0.41 | 0.34 | 0.42 | |
| Quick ratio | 0.65 | 0.97 | 0.28 | 0.22 | 0.27 | |
| Cash ratio | 0.54 | 0.89 | 0.14 | 0.10 | 0.14 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Delta Air Lines Inc. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Delta Air Lines Inc. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Delta Air Lines Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Current Ratio
Delta Air Lines Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 15,940) | 17,404) | 8,249) | 6,340) | 7,844) | |
| Current liabilities | 20,966) | 15,927) | 20,204) | 18,578) | 18,573) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.76 | 1.09 | 0.41 | 0.34 | 0.42 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.51 | 1.58 | 1.45 | — | — | |
| Uber Technologies Inc. | 0.98 | 1.44 | 2.47 | — | — | |
| Union Pacific Corp. | 0.62 | 1.01 | 0.79 | — | — | |
| United Airlines Holdings Inc. | 1.19 | 1.16 | 0.55 | — | — | |
| United Parcel Service Inc. | 1.42 | 1.19 | 1.11 | — | — | |
| Current Ratio, Sector | ||||||
| Transportation | 1.24 | 1.28 | — | — | — | |
| Current Ratio, Industry | ||||||
| Industrials | 1.29 | 1.41 | — | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 15,940 ÷ 20,966 = 0.76
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Delta Air Lines Inc. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Quick Ratio
Delta Air Lines Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 7,933) | 8,307) | 2,882) | 1,565) | 1,814) | |
| Short-term investments | 3,386) | 5,789) | —) | 203) | 825) | |
| Accounts receivable, net of an allowance for uncollectible accounts | 2,404) | 1,396) | 2,854) | 2,314) | 2,377) | |
| Total quick assets | 13,723) | 15,492) | 5,736) | 4,082) | 5,016) | |
| Current liabilities | 20,966) | 15,927) | 20,204) | 18,578) | 18,573) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.65 | 0.97 | 0.28 | 0.22 | 0.27 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.40 | 1.45 | 1.27 | — | — | |
| Uber Technologies Inc. | 0.82 | 1.19 | 2.24 | — | — | |
| Union Pacific Corp. | 0.47 | 0.79 | 0.56 | — | — | |
| United Airlines Holdings Inc. | 1.10 | 1.04 | 0.42 | — | — | |
| United Parcel Service Inc. | 1.32 | 1.00 | 0.99 | — | — | |
| Quick Ratio, Sector | ||||||
| Transportation | 1.13 | 1.11 | — | — | — | |
| Quick Ratio, Industry | ||||||
| Industrials | 0.80 | 0.88 | — | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,723 ÷ 20,966 = 0.65
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Delta Air Lines Inc. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Cash Ratio
Delta Air Lines Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 7,933) | 8,307) | 2,882) | 1,565) | 1,814) | |
| Short-term investments | 3,386) | 5,789) | —) | 203) | 825) | |
| Total cash assets | 11,319) | 14,096) | 2,882) | 1,768) | 2,639) | |
| Current liabilities | 20,966) | 15,927) | 20,204) | 18,578) | 18,573) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.54 | 0.89 | 0.14 | 0.10 | 0.14 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| FedEx Corp. | 0.52 | 0.47 | 0.26 | — | — | |
| Uber Technologies Inc. | 0.55 | 1.03 | 2.02 | — | — | |
| Union Pacific Corp. | 0.17 | 0.43 | 0.19 | — | — | |
| United Airlines Holdings Inc. | 1.01 | 0.94 | 0.33 | — | — | |
| United Parcel Service Inc. | 0.60 | 0.37 | 0.37 | — | — | |
| Cash Ratio, Sector | ||||||
| Transportation | 0.65 | 0.63 | — | — | — | |
| Cash Ratio, Industry | ||||||
| Industrials | 0.39 | 0.47 | — | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 11,319 ÷ 20,966 = 0.54
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Delta Air Lines Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |