Here is the synopsis of our sample research paper on Delta. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 4 page paper examines Delta Airlines performance 1998 – 2004. The paper presents profitability, efficiency and debt ratio for the years and then undertakes a z-score calculation using the Altman Bankruptcy Model to predict the future of the airline. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEdeltafail.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
range of profitability figures, by looking at the annual reports we can look at these between 1998 - 2004 1998 1999 2000 2001 2002 2003 2004 Gross Profit
Margin 67.2 % 68.8% 68.1% 63% 65.2% -5.66% -20.05% Net Profit Margin 7% 7.41% 8.13% -8.86% -9.67% -5.94% -34.65 % Return on Assets 7.24% 7% 4.24% -5.4% -5.33% -3.09%
-21.59% Return on Equity 31.35 27.55 17.44 -29.33 -117.39 0* 0* The return on equity is marked as zero in years 2003 and 2004 as there is a negative
figure for stockholders equity. In 2003 there was equity of -$659 million with net losses of -$1,189 million and in 2004 this became equity of -$5,796 million and losses
of $3,992 million. There does appear to be a slight recovery in the return on assets in 2003 but this is not carried forward into 2004 when we see this
fall even further and continue the downward trend. We can also look at the efficiency ratios. This may give us an indication of the way the company may be
able to recover or the areas on inefficiency. 1998 1999 2000 2001 2002 2003 2004 Assets turnover 1 .9 .9 .6 .6 .5 .6 Fixed Asset
Turnover 1.6 1.4 1.3 .9 .8 .8 .9 Days Sales Outstanding 24.3 19.1 11 10.2 9.1 13.1 16.5 Receivables Turnover 15 19.1 33.2 35.9 40.3 27.9 22.1 Inventory
Turnover 0** 0** 0** 76.68 81.13 64.50 73.90 ** in the annual account for these years there is a declared inventory if zero so the ratio cannot be calculated.
We can also look at debt figures 1998 1999 2000 2001 2002 2003 2004 Long Term Debt 12.2 11.8 26.9 35.4 41.2 49.8 53.7 Short Term Debt
...