Returns On Capital At Delta Air Lines (NYSE:DAL) Have Stalled [Yahoo! Finance]
Delta Air Lines, Inc. (DAL)
Last delta air lines, inc. earnings: 4/22 07:00 am
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ir.delta.com
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Source: Yahoo! Finance
Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. In light of that, when we looked at Delta Air Lines NYSE:DAL ) and its ROCE trend, we weren't exactly thrilled. Understanding Return On Capital Employed (ROCE) If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Delta Air Lines, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.13 = US$6.1b ÷ (US$75b - US$28b) (Based on the trailing twelve months to March 2024) So, Delta Air Lines has an ROCE of 13%. In absolute terms, that's a satisfactory return, but compared to the Airlines industry average of 10%
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DAL
Earnings
- 4/10/24 - Beat
DAL
Sec Filings
- 5/10/24 - Form 13F-HR
- 5/9/24 - Form 4
- 5/8/24 - Form 144
- DAL's page on the SEC website