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Essay / Research Paper Abstract
This 4 page paper looks at the financial performance of Delta Airlines during the five year period 1998 – 2002. The paper includes a table with profitability, efficiency, liquidity and leverage ratios. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEdelta01.rtf
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Unformatted sample text from the term paper:
last five years accounts (1998 - 2002), the patters nod decline can be clearly seen. The student has asked for a table of ratios. However as the company has been
making a loss for the last two years and adjustments shave been made, some ratios are not appropriate. The general trend is downwards but the drop is dramatic.
1998 1999 2000 2001 2002 Profitability Gross profit margin 67.20% 68.80% 68.10% 63% 65.20% Net profit margin 7.00% 7.41% 4.87% -8.86 -9.67 Return on
assets 7.24% 7.00% 4.24% -5.40% -5.33% Return on equity 31.35% 27.55% 17.44% -29.33% -117.39% Efficiency Asset turnover 1.0 0.9 0.9 0.6 0.6 Fixed Asset turnover
1.6 1.4 1.3 0.9 0.8 Days sales outstanding 24.3 19.1 11.0 10.2 9.1 Receivables turnover 15 19.1 33.2 35.9 40.3 Leverage Long term debt 12.20%
11.80% 26.90% 35.40% 41.20% Short term debt 0.90% 4.20% 0.50% 4.50% 2.80% Current ratio 0.73 0.50 0.61 0.56 0.60 Quick ratio 0.56 0.33 0.38 0.4 0.53 Financial leverage 3.48 3.56
3.93 5.87 21.37 Debt/equity 0.46 0.57 1.08 2.34 9.39 Looking at these figures, the gross margin is expressed as a percentage. This is the level of revenue that
remains when all of the direct costs for producing the goods or services are deducted form the revenue. This indicates the level at which direct costs account take up revenue.
This shows some movement indicating a small increase in the direct costs. However, this change is not that great, and as such any increase in costs must come form the
indirect costs rather than the direct costs. This net profit is a common ratio which is used by many stakeholders and is
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