Delta Air Lines, Inc. (DAL)
Industrials · Passenger Airlines · US stock · S&P 500 component
$75.37
▼ -2.71 (3.47%)
Fair valueData under review
$211
$105fair band $147–$274$316
Day's range
$75.06 – $79.00
52-week range
$54.45 – $95.18
About Delta Air Lines, Inc.
Delta Air Lines is a major global airline that carries passengers and cargo on a network spanning the Americas, Europe, Asia and elsewhere, with hubs in cities such as Atlanta, Detroit and Minneapolis. It is a member of the SkyTeam alliance. Revenue comes mainly from ticket sales, with additional income from cargo, loyalty program and co-branded credit card partnerships, and maintenance and refinery operations.
Revenue has grown 7.8% a year over three years, leaving the last twelve months at $71.8 billion. Operating margin is 7.4%. Return on invested capital comes to 13%. On leverage, net debt to EBITDA is 1.1 times. A dividend is paid, with a yield of 1.3%. This gives an X-Ray Score of 61 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $54.45 – $95.18Volume 5,893,926Daily, split-adjusted
Vitals
Market cap$49.7B
52-week range$54.45 – $95.18
Volume (last day)5,893,926
P/E (TTM)15.0
EBIT / EV yield9.1%
Free-cash-flow yield–
Dividend yield1.3%
Revenue (TTM)$71.8B
Net income (TTM)$3.3B
Operating margin7.4%
Return on capital12.9%
Debt incl. leases$12.1B
Cash & securities$3.8B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$211model spread $185 – $233
Data under review
+0.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $75
Undervalued < $147Fair $147 – $274Overvalued > $274
10-year DCF (market-scaled)
$302
Peer multiples
$151
Earnings power floor (not blended)
$-37
Fundamentals-adjusted multiple
$180
Growth the price implies
3.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Read the lenses below
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Strong
97/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield9.1%
Fair value vs price2.8×
Growth
Fair
63/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)7.8%
EPS growth (3y)54.9%
Growth consistency90%
Profitability
Weak
47/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital12.9%
Operating margin7.4%
Financial health
Weak
42/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA1.1×
Interest coverNo interest cost
Dividends
Weak
37/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.3%
Quarterly results: last 6 quarters
-0.1%
Jun '25
+6.4%
Sep '25
+2.9%
Dec '25
+12.9%
Mar '26
+18.7%
Jun '26
+21.1%
Sep '26
Revenue against the same quarter a year earlier. Latest quarter revenue $20.2B, diluted EPS $1.15.
Compare with peers
UAL United Airlines Holdin...64 LUV Southwest Airlines Co40Other Passenger Airlines companies by X-Ray Score.
Fundamentals checklist
● 6 Good · ● 4 Average · ● 3 BadCash quality
Earnings backed by cashGood
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Good
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioBad
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 60/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $29.9B | $50.6B | $58.0B | $61.6B | $63.4B |
| Operating income | $1.9B | $3.7B | $5.5B | $6.0B | $5.8B |
| Net income | $280M | $1.3B | $4.6B | $3.5B | $5.0B |
| Operating cash flow | $3.3B | $6.4B | $6.5B | $8.0B | $8.3B |
| Operating margin | 6.3% | 7.2% | 9.5% | 9.7% | 9.2% |
| Free cash flow | $17M | −$3M | $1.1B | $2.9B | $3.8B |
| Diluted EPS | $0.44 | $2.06 | $7.17 | $5.33 | $7.66 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
3 bullish · 1 neutral · 12 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 80.20 | Bearish |
| EMA 10 | 79.34 | Bearish |
| SMA 20 | 81.80 | Bearish |
| EMA 20 | 80.51 | Bearish |
| SMA 50 | 82.08 | Bearish |
| EMA 50 | 81.69 | Bearish |
| SMA 100 | 83.87 | Bearish |
| EMA 100 | 80.79 | Bearish |
| SMA 200 | 75.85 | Bearish |
| EMA 200 | 76.33 | Bearish |
Oscillators (daily)
| RSI (14) | 33.72 | Neutral |
| MACD (12, 26) | -1.17 | Bearish |
| Momentum (12) | -9.44 | Bearish |
| Stochastic %K (14) | 2.90 | Bullish |
| Williams %R (14) | -97.10 | Bullish |
| CCI (20) | -180.6 | Bullish |
Pivot points (classic, last session)
S3 70.01 | S2 72.53 | S1 73.95 | Pivot 76.48 | R1 77.90 | R2 80.42 | R3 81.84 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.81 USD
Yield on today's price
1.07%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 15 Oct 2026 | 0.2150 |
| 9 Jul 2026 | 0.2150 |
| 14 May 2026 | 0.1880 |
| 26 Feb 2026 | 0.1880 |
| 16 Oct 2025 | 0.1880 |
| 31 Jul 2025 | 0.1880 |
| 13 May 2025 | 0.1500 |
| 27 Feb 2025 | 0.1500 |
| 10 Oct 2024 | 0.1500 |
| 30 Jul 2024 | 0.1500 |
| 13 May 2024 | 0.1000 |
| 23 Feb 2024 | 0.1000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
DAL SEC filings
9 Oct 2026
10-QSEC EDGAR
Quarterly report
9 Oct 2026
8-KSEC EDGAR
Results of operations
10 Jul 2026
10-QSEC EDGAR
Quarterly report
10 Jul 2026
8-KSEC EDGAR
Results of operations
22 Jun 2026
8-KSEC EDGAR
Shareholder vote results
12 Jun 2026
8-KSEC EDGAR
Entered a material agreement
24 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
8 Apr 2026
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.