Delta Air Lines (DAL) FY2019 results: revenue $47.0 billion, up 5.8% on the year
Delta Air Lines, Inc. (DAL) reported revenue of $47.0 billion for fiscal 2019, the year ended 31 December 2019, up 5.8% on the year before. Net income was $4.8 billion, up 21.1%, and diluted earnings per share $7.30. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$47.0 billion
+5.8% on the year
FY2012FY2019
Operating margin
14.1%
11.8% a year earlier
FY2012FY2019
Net income
$4.8 billion
+21.1% on the year
FY2012FY2019
Diluted EPS
$7.30
+28.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
47,007
44,438
41,138
+5.8%
Operating income
6,618
5,264
5,966
+25.7%
Operating margin
14.1%
11.8%
14.5%
Interest expense
n/a
n/a
396
Pre-tax income
6,198
5,151
5,500
+20.3%
Income tax
1,431
1,216
2,295
+17.7%
Effective tax rate
23.1%
23.6%
41.7%
Net income
4,767
3,935
3,205
+21.1%
Net margin
10.1%
8.9%
7.8%
Diluted EPS
$7.30
$5.67
$4.43
+28.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
8,425
7,014
5,023
+20.1%
Capital expenditure
4,936
5,168
3,891
-4.5%
Free cash flow
3,489
1,846
1,132
+89.0%
Free cash flow margin
7.4%
4.2%
2.8%
Cash from investing
-4,563
-4,393
-5,266
Cash from financing
-2,880
-1,726
-730
Depreciation and amortisation
2,581
2,329
2,222
+10.8%
Share-based compensation
161
159
169
+1.3%
Buybacks
2,027
1,575
1,677
+28.7%
Dividends paid
980
909
731
+7.8%
Dividend per share
$1.51
$1.31
$1.02
+15.3%
Diluted shares, weighted
653m
694m
723m
-5.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
15,358
13,687
12,530
+12.2%
Debt
11,896
10,846
9,934
+9.7%
Operating lease liabilities
5,294
5,801
0.0
-8.7%
Finance lease liabilities
821
294
n/a
+179.3%
Other liabilities
31,163
29,638
31,207
+5.1%
Total liabilities and equity
64,532
60,266
53,671
+7.1%
Fixed assets
n/a
28,335
26,563
Goodwill
9,781
9,781
9,794
0.0%
Intangible assets
5,163
4,830
4,847
+6.9%
Investments
0.0
203
825
Cash and equivalents
2,882
1,565
1,814
+84.2%
Receivables
2,854
2,314
2,377
+23.3%
Other assets
43,852
13,238
7,451
+231.3%
Total assets
64,532
60,266
53,671
+7.1%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.