Delta Air Lines (DAL) FY2020 results: revenue $17.1 billion, down 63.6% on the year
Delta Air Lines, Inc. (DAL) reported revenue of $17.1 billion for fiscal 2020, the year ended 31 December 2020, down 63.6% on the year before. Net income was -$12.4 billion, and diluted earnings per share $-19.49. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$17.1 billion
-63.6% on the year
FY2013FY2020
Operating margin
-72.9%
14.1% a year earlier
FY2013FY2020
Net income
-$12.4 billion
FY2013FY2020
Diluted EPS
-$19.49
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
17,095
47,007
44,438
-63.6%
Operating income
-12,469
6,618
5,264
Operating margin
-72.9%
14.1%
11.8%
Pre-tax income
-15,587
6,198
5,151
Income tax
-3,202
1,431
1,216
Effective tax rate
n/a
23.1%
23.6%
Net income
-12,385
4,767
3,935
Net margin
-72.4%
10.1%
8.9%
Diluted EPS
-$19.49
$7.30
$5.67
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-3,793
8,425
7,014
Capital expenditure
1,899
4,936
5,168
-61.5%
Free cash flow
-5,692
3,489
1,846
Free cash flow margin
-33.3%
7.4%
4.2%
Cash from investing
-9,238
-4,563
-4,393
Cash from financing
19,356
-2,880
-1,726
Depreciation and amortisation
2,312
2,581
2,329
-10.4%
Share-based compensation
119
161
159
-26.1%
Buybacks
344
2,027
1,575
-83.0%
Dividends paid
260
980
909
-73.5%
Dividend per share
$0.40
$1.51
$1.31
-73.5%
Diluted shares, weighted
636m
653m
694m
-2.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,534
15,358
13,687
-90.0%
Debt
30,257
11,896
10,846
+154.3%
Operating lease liabilities
5,713
5,294
5,801
+7.9%
Finance lease liabilities
894
821
294
+8.9%
Other liabilities
33,598
31,163
29,638
+7.8%
Total liabilities and equity
71,996
64,532
60,266
+11.6%
Fixed assets
n/a
n/a
28,335
Goodwill
9,753
9,781
9,781
-0.3%
Intangible assets
6,011
5,163
4,830
+16.4%
Investments
5,789
0.0
203
Cash and equivalents
8,307
2,882
1,565
+188.2%
Receivables
1,396
2,854
2,314
-51.1%
Other assets
40,740
43,852
13,238
-7.1%
Total assets
71,996
64,532
60,266
+11.6%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.