appendix A
Appendix A
Southwest Airlines Co. and JetBlue Airways Corp. Financial Ratios (in USD)
Southwest Airlines Co.
Current ratio = Current Assets / Current Liabilities
2016 4,498M/6,844M = 0.66
Debt Ratio = Total Liabilities / Total Assets
2016 14,845M/23,286M = 0.64
Fixed Asset Turnover Ratio = Net sales / Average net fixed assets
2016 20,425M/22,299M = 0.92
Dividend Payout Ratio = Dividends Per Share / EPS Without Non-Recurring Items
2016 0.375/3.55 = 0.11
Operating Margin Ratio = Operating Income/Revenue
2012 877M/17.1B = 5.1%
2013 1.16B/17.7B = 6.5%
2014 1.71B/18.6B = 9.2%
2015 3.5B/19.8B = 19.8%
2016 4.66B/20.4B = 22.8%
Return on Assets Ratio = Net income / Total Assets
2012 421M/18.6B = 2.2%
2013 757M/19.4B = 3.9%
2014 1.14B/20.2B = 5.6%
2015 2.19B/23.3B = 9.4%
2016 2.25B/24.5B= 9.2%
Price/Earnings Ratio = Market price per share / Earnings per share
2012 10.13/.56 = 18.08
2013 18.84/1.05 = 17.94
2014 42.50/1.64 = 25.91
2015 43.18/3.27 = 13.02
2016 59.10/3.55 = 14.08
P/E to Growth Ratio = P/E Ratio/Earnings Growth Rate = 16.64/19 = 0.87
Return on Equity = Net Profit / Equity
2012 421M/6.99B = 6.0%
2013 757M/7.34B = 10%
2014 1.48B/6.78B = 21%
2015 219B/7.36B = 29%
2016 $2.25B/$8.44B = 27%
Price/Book Value Ratio = Stock price per share/ Shareholders’ Equity per Share
2012 18.6B-11.6B/750M = 9.3
2013 19.3B-21.0/710M = 10.3
2014 20.2B-13.4B/687 = 9.9
2015 23.31B-15.96/661M = 11.11
2016 24.77-16.33/627M = 13.46
JetBlue Airways Corp.
Current ratio = Current Assets / Current Liabilities
2016 1,567M/2,223M = 0.70
Debt Ratio = Total Liabilities / Total Assets
2016 5,474M/9,487M = 0.58
Fixed Asset Turnover Ratio = Net sales / Average net fixed assets
2016 6,632M/9,065M = 0.73
Dividend Payout Ratio = Dividends Per Share / EPS Without Non-Recurring Items
2016 JetBlue did not payout any dividends
Operating Margin Ratio = Operating Income / Revenue
2012 365M/4.89B = 7.3%
2013 418M/5.44B = 7.7%
2014 522M/5.82B = 8.9%
2015 1.3B/6.42B = 20%
2016 1.3B/6.63B = 19%
Return on Assets Ratio = Net Income / Total Assets
2012 128M/7.07B = 1.8%
2013 168M/7.35 = 2.3%
2014 401M/7.84B = 5.1%
2015 677M/8.64B = 7.8%
2016 759M/9.49B = 7.9%
Price/Earnings Ratio = Market price per share / Earnings per share
2012 5.57/.40 = $13.90
2013 8.47/.52 = $16.28
2014 15.68/1.19 = $13.17
2015 22.89/1.96 = $11.67
2016 22.25/2.22 = $10.02
P/E to Growth Ratio = P/E Ratio / Earnings Growth Rate = 8.65/19 = 0.45
Return on Equity = Net Profit / Equity
2012 128M/1.89B = 6.7%
2013 168M/2.13B = 7.8%
2014 401M/2.53B = 16%
2015 677M/3.21B = 21%
2016 $759M/$4.01B = 18%
Price/Book Value = Stock price per share / Shareholders’ Equity per Share
2012 7.07B-5.18B/282M = 6.7
2013 7.35B-5.22B/282.7M = 7.5
2014 7.84B-5.31B/294.7M = 8.6
2015 8.64B-5.43B/315.1M = 10.2
2016 9.49B-5.47B/326.5M = 12.3