Financials Delta Air Lines, Inc.

Equities

DAL

US2473617023

Airlines

Real-time Estimate Cboe BZX Other stock markets 12:37:33 2024-12-09 pm EST			5-day change	1st Jan Change
63.12 ^USD	-2.18%		-0.44%	+56.92%

Dec. 06	BNP Paribas Exane Adjusts Price Target on Delta Air Lines to $78 From $58, Keeps Outperform Rating	MT
Dec. 06	Will the strong economy be a brake on further rate cuts?

Projected Income Statement: Delta Air Lines, Inc.

income-statement-evolution-chart DELTA-AIR-LINES-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	47,007	17,095	29,899	50,582	58,048	60,741	61,622	63,950
Change	-	-63.63%	74.9%	69.18%	14.76%	4.64%	1.45%	3.78%
EBITDA ¹	9,636	-5,474	-99	6,181	9,207	8,888	9,992	10,727
Change	-	-	-98.19%	-	48.96%	-3.46%	12.42%	7.35%
EBIT ¹	6,632	-8,185	-2,527	3,566	6,334	6,023	7,080	7,715
Change	-	-	-69.13%	-	77.62%	-4.91%	17.55%	8.98%
Interest Paid ¹	-301	-929	-1,279	-1,029	-834	-733	-568	-492.5
Earnings before Tax (EBT) ¹	6,198	-15,587	398	1,914	5,608	5,055	6,269	6,939
Change	-	-	-	380.9%	193%	-9.86%	24.01%	10.68%
Net income ¹	4,767	-12,385	280	1,318	4,609	3,896	4,742	5,342
Change	-	-	-	370.71%	249.7%	-15.47%	21.7%	12.65%
Announcement Date	1/14/20	1/14/21	1/13/22	1/13/23	1/12/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	11,439	8,592	1,468	3,062	3,973	4,150	7,126	9,154	9,470	9,348	13,824	13,975	13,435	12,759	15,578	15,488	14,223	13,748	16,658	15,677	14,644	13,393	16,367	15,703	14,933	-	-	-
Change	-	-24.89%	-82.91%	108.58%	29.75%	4.46%	71.71%	28.46%	3.45%	-1.29%	47.88%	1.09%	-3.86%	-5.03%	22.09%	-0.58%	-8.17%	-3.34%	21.17%	-5.89%	-6.59%	-8.54%	22.21%	-4.06%	-4.9%	-100%	-	-
EBITDA ¹	2,149	361	-2,940	-1,473	-1,179	-2,055	-51	1,495	966	-165	2,082	2,161	2,103	1,242	3,199	2,688	2,077	1,391	3,027	2,153	2,479	1,627	3,302	2,699	2,516	1,855	3,585	2,937
Change	-	-83.2%	-	-49.9%	-19.96%	74.3%	-97.52%	-	-35.38%	-	-	3.79%	-2.68%	-40.94%	157.57%	-15.97%	-22.73%	-33.03%	117.61%	-28.87%	15.16%	-34.39%	102.99%	-18.25%	-6.79%	-26.29%	93.3%	-18.09%
EBIT ¹	1,422	-417	-3,627	-2,116	-1,782	-2,651	-656	889	344	-793	1,445	1,492	1,421	546	2,494	1,963	1,330	640	2,269	1,373	1,723	911.2	2,576	1,946	1,763	1,158	2,882	2,202
Change	-	-	769.78%	-41.66%	-15.78%	48.77%	-75.25%	-	-61.3%	-	-	3.25%	-4.76%	-61.58%	356.78%	-21.29%	-32.25%	-51.88%	254.53%	-39.49%	25.46%	-47.1%	182.67%	-24.45%	-9.41%	-34.31%	148.91%	-23.59%
Charge d'intérêts ¹	-72	-79	-194	-291	-365	-361	-338	-314	-265	-274	-269	-248	-238	-227	-203	-196	-207	-205	-188	-173	-167	-145	-130	-125	-115	-	-	-
Earnings before Tax (EBT) ¹	1,397	-607	-7,014	-6,859	-1,108	-1,515	776	1,532	-395	-1,200	1,033	962	1,120	-506	2,317	1,521	2,275	122	1,773	1,561	1,650	661.5	2,330	1,680	1,456	-	-	-
Change	-	-	1,055.52%	-2.21%	-83.85%	36.73%	-	97.42%	-	203.8%	-	-6.87%	16.42%	-	-	-34.35%	49.57%	-94.64%	1,353.28%	-11.96%	5.69%	-59.9%	252.31%	-27.89%	-13.33%	-100%	-	-
Net income ¹	1,099	-534	-5,717	-5,379	-755	-1,177	652	1,212	-408	-940	735	695	828	-363	1,827	1,108	2,037	37	1,305	1,272	1,149	521.9	1,807	1,343	1,119	741.8	2,067	1,552
Change	-	-	970.6%	-5.91%	-85.96%	55.89%	-	85.89%	-	130.39%	-	-5.44%	19.14%	-	-	-39.35%	83.84%	-98.18%	3,427.03%	-2.53%	-9.64%	-54.59%	246.26%	-25.68%	-16.66%	-33.72%	178.59%	-24.89%
Announcement Date	1/14/20	4/22/20	7/14/20	10/13/20	1/14/21	4/15/21	7/14/21	10/13/21	1/13/22	4/13/22	7/13/22	10/13/22	1/13/23	4/13/23	7/13/23	10/12/23	1/12/24	4/10/24	7/11/24	10/10/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Delta Air Lines, Inc.

balance-sheet-analysis-chart DELTA-AIR-LINES-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	8,278	20,850	15,601	16,494	21,424	18,925	16,387	13,866
Change	-	151.87%	-25.18%	5.72%	29.89%	-11.66%	-13.41%	-15.38%
Announcement Date	1/14/20	1/14/21	1/13/22	1/13/23	1/12/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Delta Air Lines, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	4,488	1,900	3,247	6,366	5,323	4,887	5,027	5,100
Change	-	-57.66%	70.89%	96.06%	-16.38%	-8.19%	2.87%	1.45%
Free Cash Flow (FCF) ¹	4,164	-5,693	1,255	-2	2,003	3,335	3,457	2,967
Change	-	-236.72%	-122.04%	-100.16%	-100,250%	66.5%	3.65%	-14.17%
Announcement Date	1/14/20	1/14/21	1/13/22	1/13/23	1/12/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Delta Air Lines, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	20.5%	-32.02%	-0.33%	12.22%	15.86%	14.63%	16.22%	16.77%
EBIT Margin (%)	14.11%	-47.88%	-8.45%	7.05%	10.91%	9.92%	11.49%	12.06%
EBT Margin (%)	13.19%	-91.18%	1.33%	3.78%	9.66%	8.32%	10.17%	10.85%
Net margin (%)	10.14%	-72.45%	0.94%	2.61%	7.94%	6.41%	7.69%	8.35%
FCF margin (%)	8.86%	-33.3%	4.2%	-0%	3.45%	5.49%	5.61%	4.64%
FCF / Net Income (%)	87.35%	45.97%	448.21%	-0.15%	43.46%	85.59%	72.9%	55.54%
Profitability
ROA	7.65%	-10.01%	-3.6%	2.84%	5.51%	5.45%	4.97%	5.34%
ROE	32.77%	-81.85%	-100.54%	40.69%	45.79%	32.55%	27.86%	25.46%
Financial Health
Leverage (Debt/EBITDA)	0.86x	-3.81x	-157.59x	2.67x	2.33x	2.13x	1.64x	1.29x
Debt / Free cash flow	1.99x	-3.66x	12.43x	-8,247x	10.7x	5.67x	4.74x	4.67x
Capital Intensity
CAPEX / Current Assets (%)	9.55%	11.11%	10.86%	12.59%	9.17%	8.05%	8.16%	7.98%
CAPEX / EBITDA (%)	46.58%	-34.71%	-3,279.8%	102.99%	57.81%	54.98%	50.31%	47.55%
CAPEX / FCF (%)	107.78%	-33.37%	258.73%	-318,300%	265.75%	146.54%	145.44%	171.92%
Items per share
Cash flow per share ¹	12.9	-5.964	5.092	9.928	10.05	12.73	13.79	13.9
Change	-	-146.22%	-185.38%	94.98%	1.26%	26.59%	8.34%	0.83%
Dividend per Share ¹	1.505	0.4	-	-	0.2	0.4663	0.5846	0.6671
Change	-	-73.42%	-	-	-	133.15%	25.36%	14.11%
Book Value Per Share ¹	23.72	2.127	5.989	10.07	17.26	22.7	28.96	36.98
Change	-	-91.03%	181.53%	68.17%	71.36%	31.5%	27.59%	27.7%
EPS ¹	7.3	-19.49	0.44	2.06	7.17	6.06	7.325	8.248
Change	-	-366.99%	-102.26%	368.18%	248.06%	-15.48%	20.88%	12.59%
Nbr of stocks (in thousands)	644,343	635,144	637,797	640,014	640,356	641,115	641,115	641,115
Announcement Date	1/14/20	1/14/21	1/13/22	1/13/23	1/12/24	-	-	-