Key information about India Market Capitalization: % of GDP

• India Market Capitalization accounted for 133.5 % of its Nominal GDP in Dec 2024, compared with a percentage of 120.9 % in the previous year
• India Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1993 to Dec 2024
• The data reached an all-time high of 146.4 % in Dec 2007 and a record low of 23.0 % in Dec 2001

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. BSE Limited provides Market Capitalization in local currency. The Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Nominal GDP is reported in annual frequency, ending in March of each year.


Further information about India Market Capitalization: % of GDP

• In the latest reports, SENSEX recorded a daily P/E ratio of 20.6 in Mar 2025
• Sensitive 30 (Sensex) closed at 73,198.1 points in Feb 2025

Stock market capitalization to GDP (%) in Saudi Arabia was reported at 345 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Saudi Arabia - Stock market capitalization to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Key information about China Market Capitalization: % of GDP

• China Market Capitalization accounted for 63.4 % of its Nominal GDP in Dec 2024, compared with a percentage of 59.7 % in the previous year
• China Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1995 to Dec 2024
• The data reached an all-time high of 119.3 % in Dec 2007 and a record low of 5.6 % in Dec 1995

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. Market Capitalization is calculated as the sum of Market Capitalization of Shanghai Stock Exchange and Market Capitalization of Shenzhen Stock Exchange. Shanghai Stock Exchange and Shenzhen Stock Exchange provides Market Capitalization in local currency. The National Bureau of Statistics provides Nominal GDP in local currency.


Further information about China Market Capitalization: % of GDP

• In the latest reports, Shanghai Stock Exchange recorded a daily P/E ratio of 13.8 in Jan 2025
• Shanghai Shenzhen 300 closed at 3,934.9 points in Dec 2024

Description Delta is the best-in-class airline and has been executing at a very high level. Over the last several quarters, Delta has been able to responsibly manage its capacity, retain the strong travel demand from consumers, and increase its premium exposure. Consumers have shown that they are more willing to spend on experiences than goods, which would support higher spend on travel in the future. DAL can offer nearly 40% upside over the next 12-18 months. At their most recent investor day, they outlined a plan over the medium term where they can get to a mid-teens operating margin, 10% EPS growth and $3-5B in Free Cash Flow while ultimately strengthening its balance sheet to 1x gross leverage. This should lead to a15%+ ROIC as well. What further underpins the long DAL thesis is that management expects premium revenue to exceed main cabin revenue by 2027, which is driven by greater premium capex (more cabin segmentation), aligning customer value to price and optimizing through technology. One of Delta’s main advantages is its credit card partnership with American Express. Since1991, it has partnered with Amex and has produced co-branded credit cards and most recently extended the partnership until 2029 (early extension). The key strengths of the program are that it contributes to Delta’s industry leading revenue premium, customer loyalty and constant customer engagement, enables retention of premium travelers, extensive network of longstanding partner relationships, offers significant diversity of cash flows with long-term track record of stable and growing performance through cycles and it allows them flexibility to control costs and preserve margins. Below is a chart of how the program works. Delta sells miles to the SkyMiles program and then co-brand and accrual partners then purchase miles from SkyMiles program or there are 3rd party redemptions. Delta has an extensive network of longstanding partner relationships, which further enhances the value and attractiveness of the platform. Additionally, the mix of travelers also gives Delta a tailwind as nearly 2/3rds of the cohort is less than 54 years old creating a likely retentive base of consumers willing to prioritize Delta given the benefits. best stock websites AI Stock Screener how to invest in SpaceX how to invest in OpenAI warren buffett indicator current yield curve In 2014, the company announced that Amex remuneration to Delta totaled $2.0B with the co-branded credit card representing about 6% of Amex customer card spend and 15% of card loans. Then in 2019, it was announced that Amex remuneration to Delta was $4.1B, up from 21% from 2018 and 116% from 2014. As of 2019, it represented about 8% of Amex customer card spending and 22% of card loans. This year, Amex remuneration should total north of $7B, well on its way to reaching its long-term goal of $10B. If you try to back into some numbers from the SkyMiles program, using the UAL disclosures, you are able to back into a 35-40% EBITDA margin range. Assuming a similar margin, that would imply that SkyMiles accounted for 22-25% of 2019 EBITDAR. So, including SkyMiles their EBITDAR margin was over 20% in 2019 and excluding SkyMiles it was closer to 17%. Year to date (2024), the EBITDAR margin has been 15.4% and excluding SkyMiles, its likely closer to 12%. So overall it is beneficial for both American Express and Delta to have the co-branded credit cards meaning it is rather unlikely the partnership doesn’t exist in the near-term. Additionally, it further fuels the DAL flywheel with customer loyalty and increased spend. The network carriers have been increasing their premium revenue as a percentage of its total revenue over the last several years. At its last investor day, Delta laid out long-term plans to get premium revenue ~37% and 40% for main cabin with loyalty & other. This would imply that as a percentage of total revenue, main cabin revenue would shrink 16pts from 2014, premium cabin would increase 14pts and loyalty & other would increase 3pts. The main driver is the overall mix of capacity and consumer trends. Post-COVID, consumers are more willing to pay extra for extra legroom, first class/business class or even other programs like Delta One or comfort plus. The chart below shows that over the last 15 quarters, the share of main cabin revenue has been decreasing while premium revenue has been increasing, thus leading to a more margin accretive revenue mix. We are even seeing LCCs now introduce more premium offerings and that is a pretty meaningful tailwind on yield and mix as structural constraints continue with capacity. DAL leads the industry in premium offerings as well. However, we believe that the LCCs and ULCCs adding premium is actually more of a tailwind for the network carriers as the product is much better. After the pandemic, there was a more structural shift to higher spending on experiences rather than goods. While it initially started as revenge spending and...