Stock Analysis on Net

Delta Air Lines Inc. (NYSE:DAL)

This company has been moved to the archive! The financial data has not been updated since July 13, 2022.

Common Stock Valuation Ratios (Price Multiples) 

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Current Valuation Ratios

Delta Air Lines Inc., current price multiples

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Delta Air Lines Inc. FedEx Corp. Uber Technologies Inc. Union Pacific Corp. United Parcel Service Inc. Transportation Industrials
Selected Financial Data
Current share price (P) $29.70
No. shares of common stock outstanding 641,197,918
Growth rate (g) -66.40%
 
Earnings per share (EPS) $0.44
Next year expected EPS $0.15
Operating profit per share $2.94
Sales per share $46.63
Book value per share (BVPS) $6.06
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 68.01 16.25 77.67 22.20 16.80 19.52 40.32
Price to next year expected earnings 202.39 14.94 185.00 18.12 16.61 27.46 42.21
Price to operating profit (P/OP) 10.10 12.66 132.03 15.59 12.33 19.50 26.28
Price to sales (P/S) 0.64 0.80 3.93 5.87 1.24 2.14 2.58
Price to book value (P/BV) 4.90 2.55 13.03 9.58 6.51 7.03 6.64

Based on: 10-K (reporting date: 2021-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Delta Air Lines Inc., historical price multiples

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Price to earnings (P/E) 96.74 7.94 8.81 10.57
Price to operating profit (P/OP) 14.36 5.72 6.59 6.18
Price to sales (P/S) 0.91 1.62 0.81 0.78 0.92
Price to book value (P/BV) 6.97 18.01 2.46 2.53 2.72

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).

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Delta Air Lines Inc. P/S ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Delta Air Lines Inc. P/BV ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Price to Earnings (P/E)

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

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 639,929,760 638,146,665 640,093,995 678,950,098 706,913,358
Selected Financial Data (US$)
Net income (loss) (in millions) 280 (12,385) 4,767 3,935 3,577
Earnings per share (EPS)2 0.44 -19.41 7.45 5.80 5.06
Share price1, 3 42.33 43.29 59.13 51.08 53.46
Valuation Ratio
P/E ratio4 96.74 7.94 8.81 10.57
Benchmarks
P/E Ratio, Competitors5
FedEx Corp. 15.07 33.43 82.00
Uber Technologies Inc.
Union Pacific Corp. 23.67 25.57 21.44
United Parcel Service Inc. 14.11 104.33 20.59
P/E Ratio, Sector
Transportation 20.01 347.91 133.39
P/E Ratio, Industry
Industrials 33.32 161.96 49.05

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 Data adjusted for splits and stock dividends.

2 2021 Calculation
EPS = Net income (loss) ÷ No. shares of common stock outstanding
= 280,000,000 ÷ 639,929,760 = 0.44

3 Closing price as at the filing date of Delta Air Lines Inc. Annual Report.

4 2021 Calculation
P/E ratio = Share price ÷ EPS
= 42.33 ÷ 0.44 = 96.74

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 639,929,760 638,146,665 640,093,995 678,950,098 706,913,358
Selected Financial Data (US$)
Operating income (loss) (in millions) 1,886 (12,469) 6,618 5,264 6,114
Operating profit per share2 2.95 -19.54 10.34 7.75 8.65
Share price1, 3 42.33 43.29 59.13 51.08 53.46
Valuation Ratio
P/OP ratio4 14.36 5.72 6.59 6.18
Benchmarks
P/OP Ratio, Competitors5
FedEx Corp. 13.46 17.79 9.92
Uber Technologies Inc.
Union Pacific Corp. 16.53 17.46 14.83
United Parcel Service Inc. 14.20 18.23 11.72
P/OP Ratio, Sector
Transportation 19.99 32.20 26.12
P/OP Ratio, Industry
Industrials 21.72 48.99 19.39

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 Data adjusted for splits and stock dividends.

2 2021 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= 1,886,000,000 ÷ 639,929,760 = 2.95

3 Closing price as at the filing date of Delta Air Lines Inc. Annual Report.

4 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 42.33 ÷ 2.95 = 14.36

5 Click competitor name to see calculations.


Price to Sales (P/S)

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 639,929,760 638,146,665 640,093,995 678,950,098 706,913,358
Selected Financial Data (US$)
Operating revenue (in millions) 29,899 17,095 47,007 44,438 41,244
Sales per share2 46.72 26.79 73.44 65.45 58.34
Share price1, 3 42.33 43.29 59.13 51.08 53.46
Valuation Ratio
P/S ratio4 0.91 1.62 0.81 0.78 0.92
Benchmarks
P/S Ratio, Competitors5
FedEx Corp. 0.94 0.62 0.64
Uber Technologies Inc. 3.90 9.07 4.00
Union Pacific Corp. 7.08 7.00 5.85
United Parcel Service Inc. 1.87 1.66 1.23
P/S Ratio, Sector
Transportation 2.19 2.28 1.78
P/S Ratio, Industry
Industrials 2.13 2.17 1.88

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 Data adjusted for splits and stock dividends.

2 2021 Calculation
Sales per share = Operating revenue ÷ No. shares of common stock outstanding
= 29,899,000,000 ÷ 639,929,760 = 46.72

3 Closing price as at the filing date of Delta Air Lines Inc. Annual Report.

4 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 42.33 ÷ 46.72 = 0.91

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Delta Air Lines Inc. P/S ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Price to Book Value (P/BV)

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 639,929,760 638,146,665 640,093,995 678,950,098 706,913,358
Selected Financial Data (US$)
Stockholders’ equity (in millions) 3,887 1,534 15,358 13,687 13,910
Book value per share (BVPS)2 6.07 2.40 23.99 20.16 19.68
Share price1, 3 42.33 43.29 59.13 51.08 53.46
Valuation Ratio
P/BV ratio4 6.97 18.01 2.46 2.53 2.72
Benchmarks
P/BV Ratio, Competitors5
FedEx Corp. 3.26 2.35 2.49
Uber Technologies Inc. 4.71 8.24 3.99
Union Pacific Corp. 10.90 8.07 7.00
United Parcel Service Inc. 12.76 213.26 27.98
P/BV Ratio, Sector
Transportation 7.21 8.74 5.98
P/BV Ratio, Industry
Industrials 5.49 5.98 6.61

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 Data adjusted for splits and stock dividends.

2 2021 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 3,887,000,000 ÷ 639,929,760 = 6.07

3 Closing price as at the filing date of Delta Air Lines Inc. Annual Report.

4 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 42.33 ÷ 6.07 = 6.97

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Delta Air Lines Inc. P/BV ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.