Delta Air Lines, Inc. (DAL) vs LATAM Airlines Group S.A. (LTM)

Delta Air Lines, Inc. and LATAM Airlines Group S.A. are both Airlines companies. Delta Air Lines, Inc. is the larger, with a market value of $51.4B against $13.9B — 3.7× the size. LATAM Airlines Group S.A. trades at the lower P/E: 8.7× against 15.0×. LATAM Airlines Group S.A. grew revenue faster over the last twelve months: 20.5% against 14.1%. LATAM Airlines Group S.A. has the higher net margin (9.85% vs 4.58%) and the lower return on invested capital (0.00% vs 10.5%). Both pay a dividend; LATAM Airlines Group S.A. yields more (2.95% vs 1.07%). Across the 22 metrics below, LATAM Airlines Group S.A. leads on 16 and Delta Air Lines, Inc. on 6.

Valuation

Metric DAL LTM Airlines median
P/E 14.95 8.73 8.96
P/S 0.69 0.86 0.51
P/B 2.19 6.86 1.88
Price to free cash flow 16.34 6.25 11.45
EV/EBITDA 11.05 7.71 8.43
EV/Sales 0.81 1.15 0.79
Earnings yield 6.69% 11.46% 3.16%
Free cash flow yield 6.12% 15.99% 3.44%

Profitability

Metric DAL LTM Airlines median
Gross margin 29.14% 26.98% 40.73%
Operating margin 7.36% 14.96% 4.18%
Net margin 4.58% 9.85% 1.85%
Free cash flow margin 4.21% 13.73% 4.20%
Return on equity 15.91% 108.24% 10.75%
Return on assets 3.97% 8.63% 1.67%
Return on invested capital 10.46% 0.00% 3.19%

Growth

Metric DAL LTM Airlines median
Revenue growth (TTM) 14.11% 20.52% 9.79%
EPS growth (last fiscal year) 43.71% 53.25% 13.51%
Revenue growth, 5-year CAGR 29.96% 29.45% 25.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DAL LTM Airlines median
Debt to equity 0.57 0.00 0.81
Current ratio 0.40 0.67 0.60
Net debt to EBITDA 1.19 (0.92) 1.42

Dividend

Metric DAL LTM Airlines median
Dividend yield 1.07% 2.95% 1.45%
Payout ratio 0.16 0.26 0.21

Size

Metric DAL LTM Airlines median
Market cap 51.37b 13.92b 3.62b

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