Airlines
9 companies · $232B combined revenue · $15.1B operating profit
The typical US-listed airlines company grew revenue 3.5% and earnings 6.5% in its latest year, at a 9.2% operating margin, and 3 of 9 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
3.5%Median revenue growth
6.5%Median earnings growth
8.7%Median revenue growth, 3 yrs
22.2%Median earnings growth, 3 yrs
9.2%Median operating margin
10.8%Median ROCE
Fastest revenue growthAlaska Air ALK21.3%Fastest earnings growthDelta Air Lines DAL44.8%Highest ROCEGrupo Aeromexico, S.A.B. de C.V. AERO22.7%Biggest margin gainRyanair RYAAY+4.1 pts
Growth engines: the 4 Cylinders
All four working: 22% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more33%
- Operating leverage · Operating income growing faster than a growing revenue44%
- Margin expansion · Operating margin up 1 point or more22%
- Debt reduction · Debt down 5% or more, or net cash67%
Combined revenue · 8 companies reporting in US dollars
Combined operating margin
All 9 companies
| Median | – | 3.5% | 6.5% | 9.2% | 10.8% | 0.71x |
| DALDelta Air Lines | $63.4B | 2.8%▼ | 44.8%▲ | 9.2% | 10.8%▲ | 0.64x▲ |
| UALUnited Airlines | $59.1B | 3.5% | 6.5% | 8%▼ | 9.4%▼ | 1.39x▼ |
| RYAAYRyanair | EUR 15.5B | 11.4%▲ | 34.9%▲ | 15.3%▲ | 21.2%▲ | 0.13x▲ |
| LUVSouthwest Airlines | $28.1B | 2.1%▼ | -5.2%▼ | 1.5%▼ | 2.4%▼ | 0.62x▲ |
| AALAmerican Airlines | $54.6B | 0.8%▼ | -86.9%▼ | 2.7%▼ | 3.9%▼ | – |
| CPACopa | $3.6B | 5%▲ | 10.4%▲ | 22.6%▲ | 15.7%▲ | 0.71x |
| ALKAlaska Air | $14.2B | 21.3%▲ | -74.7%▼ | 2.1%▼ | 2.2%▼ | 1.29x▼ |
| SKYWSkywest | $4.1B | 15%▲ | 32.6%▲ | 15.2%▲ | 10.8% | 0.87x▼ |
| AEROGrupo Aeromexico, S.A.B. de C.V. | $5.4B | -4.6%▼ | -43%▼ | 17.3%▲ | 22.7%▲ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).