Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Delta Air Lines Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Delta Air Lines Inc. net fixed asset turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Delta Air Lines Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Delta Air Lines Inc. total asset turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Delta Air Lines Inc. equity turnover ratio improved from Q4 2021 to Q1 2022 but then slightly deteriorated from Q1 2022 to Q2 2022. |
Net Fixed Asset Turnover
Delta Air Lines Inc., net fixed asset turnover calculation (quarterly data)
| 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 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating revenue | 13,824) | 9,348) | 9,469) | 9,154) | 7,126) | 4,150) | 3,973) | 3,062) | 1,468) | 8,592) | 11,439) | 12,560) | 12,536) | 10,472) | 10,742) | 11,953) | 11,775) | 9,968) | 10,245) | 11,060) | 10,791) | 9,148) | |||||||
| Property and equipment, net of accumulated depreciation and amortization | 30,519) | 30,042) | 28,749) | 27,816) | 27,508) | 26,862) | 26,529) | 26,602) | 28,473) | 31,644) | 31,310) | 30,796) | 30,165) | 29,139) | 28,335) | 28,565) | 28,124) | 27,096) | 26,563) | 25,900) | 25,367) | 24,817) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 1.37 | 1.17 | 1.04 | 0.88 | 0.67 | 0.47 | 0.64 | 0.92 | 1.20 | 1.43 | 1.50 | 1.50 | 1.52 | 1.54 | 1.57 | 1.54 | 1.53 | 1.55 | 1.55 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | 2.41 | 2.37 | 2.35 | 2.25 | 2.16 | 2.09 | 2.06 | 2.09 | 2.13 | 2.20 | 2.29 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 13.73 | 11.55 | 9.42 | 8.33 | 7.21 | 6.14 | 6.14 | 6.40 | 7.07 | 7.72 | 8.17 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 0.42 | 0.41 | 0.40 | 0.39 | 0.38 | 0.36 | 0.36 | 0.36 | 0.37 | 0.40 | 0.40 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Airlines Holdings Inc. | 1.12 | 0.91 | 0.77 | 0.62 | 0.45 | 0.33 | 0.49 | 0.72 | 1.00 | 1.31 | 1.43 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 2.99 | 2.94 | 2.91 | 2.87 | 2.83 | 2.76 | 2.62 | 2.50 | 2.46 | 2.43 | 2.43 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Net fixed asset turnover
= (Operating revenueQ2 2022
+ Operating revenueQ1 2022
+ Operating revenueQ4 2021
+ Operating revenueQ3 2021)
÷ Property and equipment, net of accumulated depreciation and amortization
= (13,824 + 9,348 + 9,469 + 9,154)
÷ 30,519 = 1.37
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Delta Air Lines Inc. net fixed asset turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Delta Air Lines Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| 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 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating revenue | 13,824) | 9,348) | 9,469) | 9,154) | 7,126) | 4,150) | 3,973) | 3,062) | 1,468) | 8,592) | 11,439) | 12,560) | 12,536) | 10,472) | 10,742) | 11,953) | 11,775) | 9,968) | 10,245) | 11,060) | 10,791) | 9,148) | |||||||
| Property and equipment, net of accumulated depreciation and amortization | 30,519) | 30,042) | 28,749) | 27,816) | 27,508) | 26,862) | 26,529) | 26,602) | 28,473) | 31,644) | 31,310) | 30,796) | 30,165) | 29,139) | 28,335) | 28,565) | 28,124) | 27,096) | 26,563) | 25,900) | 25,367) | 24,817) | |||||||
| Operating lease right-of-use assets | 7,189) | 7,402) | 7,237) | 5,827) | 5,653) | 5,577) | 5,733) | 5,881) | 5,650) | 5,488) | 5,627) | 5,815) | 5,906) | 6,036) | 5,994) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Property and equipment, net of accumulated depreciation and amortization (including operating lease, right-of-use asset) | 37,708) | 37,444) | 35,986) | 33,643) | 33,161) | 32,439) | 32,262) | 32,483) | 34,123) | 37,132) | 36,937) | 36,611) | 36,071) | 35,175) | 34,329) | 28,565) | 28,124) | 27,096) | 26,563) | 25,900) | 25,367) | 24,817) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.11 | 0.94 | 0.83 | 0.73 | 0.55 | 0.39 | 0.53 | 0.76 | 1.00 | 1.22 | 1.27 | 1.26 | 1.27 | 1.28 | 1.29 | 1.54 | 1.53 | 1.55 | 1.55 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | 1.68 | 1.67 | 1.64 | 1.58 | 1.51 | 1.47 | 1.46 | 1.47 | 1.49 | 1.53 | 2.29 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 7.65 | 6.50 | 5.39 | 4.95 | 4.25 | 3.57 | 3.61 | 3.75 | 3.97 | 4.16 | 4.25 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 0.41 | 0.40 | 0.38 | 0.38 | 0.37 | 0.35 | 0.35 | 0.35 | 0.36 | 0.39 | 0.39 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Airlines Holdings Inc. | 0.98 | 0.79 | 0.67 | 0.54 | 0.40 | 0.29 | 0.43 | 0.63 | 0.87 | 1.14 | 1.24 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 2.71 | 2.66 | 2.63 | 2.60 | 2.55 | 2.52 | 2.40 | 2.28 | 2.25 | 2.21 | 2.22 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Operating revenueQ2 2022
+ Operating revenueQ1 2022
+ Operating revenueQ4 2021
+ Operating revenueQ3 2021)
÷ Property and equipment, net of accumulated depreciation and amortization (including operating lease, right-of-use asset)
= (13,824 + 9,348 + 9,469 + 9,154)
÷ 37,708 = 1.11
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Delta Air Lines Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Total Asset Turnover
Delta Air Lines Inc., total asset turnover calculation (quarterly data)
| 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 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating revenue | 13,824) | 9,348) | 9,469) | 9,154) | 7,126) | 4,150) | 3,973) | 3,062) | 1,468) | 8,592) | 11,439) | 12,560) | 12,536) | 10,472) | 10,742) | 11,953) | 11,775) | 9,968) | 10,245) | 11,060) | 10,791) | 9,148) | |||||||
| Total assets | 74,805) | 73,748) | 72,459) | 72,783) | 75,309) | 73,083) | 71,996) | 79,076) | 72,261) | 68,738) | 64,532) | 63,219) | 62,518) | 61,841) | 60,266) | 55,003) | 55,796) | 54,078) | 53,292) | 51,928) | 51,815) | 51,459) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | 0.56 | 0.48 | 0.41 | 0.34 | 0.24 | 0.17 | 0.24 | 0.31 | 0.47 | 0.66 | 0.73 | 0.73 | 0.73 | 0.73 | 0.74 | 0.80 | 0.77 | 0.78 | 0.77 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | 1.06 | 1.06 | 1.01 | 0.95 | 0.92 | 0.92 | 0.94 | 1.00 | 0.99 | 1.02 | 1.28 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 0.82 | 0.65 | 0.45 | 0.40 | 0.35 | 0.31 | 0.33 | 0.42 | 0.46 | 0.48 | 0.45 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 0.36 | 0.35 | 0.34 | 0.34 | 0.33 | 0.31 | 0.31 | 0.31 | 0.32 | 0.35 | 0.35 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Airlines Holdings Inc. | 0.51 | 0.42 | 0.36 | 0.29 | 0.21 | 0.17 | 0.26 | 0.37 | 0.58 | 0.79 | 0.82 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 1.43 | 1.41 | 1.40 | 1.44 | 1.43 | 1.41 | 1.36 | 1.29 | 1.25 | 1.23 | 1.28 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Total asset turnover
= (Operating revenueQ2 2022
+ Operating revenueQ1 2022
+ Operating revenueQ4 2021
+ Operating revenueQ3 2021)
÷ Total assets
= (13,824 + 9,348 + 9,469 + 9,154)
÷ 74,805 = 0.56
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Delta Air Lines Inc. total asset turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Equity Turnover
Delta Air Lines Inc., equity turnover calculation (quarterly data)
| 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 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating revenue | 13,824) | 9,348) | 9,469) | 9,154) | 7,126) | 4,150) | 3,973) | 3,062) | 1,468) | 8,592) | 11,439) | 12,560) | 12,536) | 10,472) | 10,742) | 11,953) | 11,775) | 9,968) | 10,245) | 11,060) | 10,791) | 9,148) | |||||||
| Stockholders’ equity | 3,811) | 2,991) | 3,887) | 2,606) | 1,281) | 482) | 1,534) | 3,357) | 8,690) | 14,309) | 15,358) | 15,068) | 13,958) | 12,911) | 13,687) | 13,704) | 12,856) | 12,557) | 13,910) | 14,001) | 13,479) | 12,945) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | 10.97 | 11.73 | 7.69 | 9.36 | 14.29 | 26.25 | 11.14 | 7.32 | 3.92 | 3.15 | 3.06 | 3.07 | 3.27 | 3.48 | 3.25 | 3.21 | 3.35 | 3.35 | 2.97 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | 3.59 | 3.56 | 3.47 | 3.58 | 3.55 | 3.67 | 3.78 | 3.70 | 3.71 | 3.84 | 3.92 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 3.84 | 2.40 | 1.21 | 1.07 | 0.90 | 0.79 | 0.91 | 1.35 | 1.37 | 1.26 | 1.00 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 1.84 | 1.90 | 1.54 | 1.52 | 1.44 | 1.19 | 1.15 | 1.14 | 1.23 | 1.35 | 1.20 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Airlines Holdings Inc. | 8.99 | 8.00 | 4.90 | 3.66 | 2.98 | 2.04 | 2.58 | 3.26 | 3.72 | 4.42 | 3.75 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 6.15 | 6.41 | 6.83 | 7.84 | 8.56 | 12.52 | 128.81 | 14.36 | 17.74 | 22.72 | 22.68 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Equity turnover
= (Operating revenueQ2 2022
+ Operating revenueQ1 2022
+ Operating revenueQ4 2021
+ Operating revenueQ3 2021)
÷ Stockholders’ equity
= (13,824 + 9,348 + 9,469 + 9,154)
÷ 3,811 = 10.97
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Delta Air Lines Inc. equity turnover ratio improved from Q4 2021 to Q1 2022 but then slightly deteriorated from Q1 2022 to Q2 2022. |