Inside the research
Delta Air Lines, Inc.
DAL Research profile · latest available data
Price overview
$84.94
▲ +2.18 (+2.6%)
| 52w hi | $93.43 |
|---|---|
| 52w lo | $55.22 |
| Vol | 7.07M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.37
| Short | +0.98 |
|---|---|
| Medium | +0.02 |
| Long | -0.16 |
computed 2026-09-27
Key fundamentals
Delta Air Lines, Inc.
Industrials · Airlines
| Market cap | $55.86B |
|---|---|
| Enterprise value | $71.98B |
| Trailing P/E | 14.09x |
| Forward P/E | 10.16x |
| EV / EBITDA | 9.59x |
| P / S (ttm) | 0.82x |
| Profit margin | 5.8% |
| Return on equity | 20.1% |
| Revenue growth | +18.7% |
| Earnings growth | -25.4% |
| Debt / equity | 96.65 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.20 | |
| Sector | -0.01 | |
| Technical | -0.14 | |
| Earnings | +0.16 | |
| Sentiment | +0.01 |
macro × 1.00 · 2026-09-27
Business overview
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Detroit, Minneapolis-St. Paul, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Santiago (Chile), Sao Paulo, Seoul-Incheon, and Tokyo. It also provides aircraft maintenance and engineering support, repair, and overhaul services; and vacation packages. The company operates through a fleet of approximately 1,314 aircraft. Delta Air Lines, Inc. was founded in 1924 and is headquartered in Atlanta, Georgia.
Risk Metrics
| Beta vs SPX | 1.79 |
|---|---|
| Corr SPX | 0.64 |
| Annual vol | 45.1% |
| Annual ret | +39.6% |
| Sharpe | 0.88 |
| Max DD | -48.0% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $79.81 |
|---|---|
| High / Low | $95.00 / $48.00 |
| Median | $80.00 |
| Analysts | 25 |
| Strong Buy | 5 | |
|---|---|---|
| Buy | 20 | |
| Hold | 0 | |
| Sell | 0 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-05-07 | UBS | → Buy |
| 2026-04-17 | Evercore ISI Group | → Outperform |
| 2026-04-09 | UBS | → Buy |
| 2026-04-09 | TD Cowen | → Buy |
| 2026-04-09 | Susquehanna | → Positive |
| 2026-04-09 | Citigroup | → Buy |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-10 | Earnings Release, Exhibits | read |
| 2026-06-22 | Shareholder Vote | read |
| 2026-06-12 | Material Agreement, Material Obligation | read |
| 2026-04-08 | Earnings Release, Exhibits | read |
| 2026-03-17 | Reg FD Disclosure, Exhibits | read |
| 2026-03-05 | Officer / Director Change, Exhibits | read |
| 2026-02-13 | Officer / Director Change | read |
| 2026-01-27 | Material Agreement | read |
| 2026-01-13 | Material Agreement, Earnings Release… | read |
| 2025-12-17 | Officer / Director Change, Exhibits | read |
| 2025-12-03 | Reg FD Disclosure | read |
| 2025-10-09 | Earnings Release, Exhibits | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 10 |
| Top-5 share | 97.2% |
| HHI | 2,887 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| Berkshire Hathaway | $5.37B | 57.32M |
| Fidelity / FMR LLC | $3.11B | 33.19M |
| State Street Corp | $2.26B | 24.13M |
| AQR Capital Management | $731.68M | 7.86M |
| Citadel Advisors | $607.42M | 6.49M |
| Capital Research / Capital World | $299.44M | 3.20M |
| Millennium Management | $47.27M | 504.66K |
| Bridgewater Associates | $2.09M | 22.36K |
| Norges Bank (Norway sovereign) | $1.42M | 15.21K |
| T. Rowe Price Group | $111.08K | 1.19M |
As of 2026-06-30
Connections
Subsidiarys: Aeroméxico (20%)
Dividends
| Yield (TTM) | 0.44% |
|---|---|
| $ / share (TTM) | $0.38 |
| 5y CAGR | +10.9% |
Annual dividend per share
| 2019 | $1.51 |
|---|---|
| 2020 | $0.40 |
| 2023 | $0.20 |
| 2024 | $0.50 |
| 2025 | $0.68 |
| 2026 | $0.19 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $1.40M | Department of Defense | CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES |
| $1.30M | Department of Defense | CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES |
| $1.00M | Department of Defense | CIVIL RESERVE AIR FLEET - AIR TRANSPORTATION SERVICES |
| $908.75K | Department of Defense | TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS |
| $892.03K | Department of Defense | TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS |
| $824.99K | Department of Defense | TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS |
| $820.07K | Department of Defense | TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS |
| $801.97K | Department of Defense | TO PROVIDE HEAVYWEIGHT DELIVERY SERVICES FOR DOMESTIC & INTERNATIONAL SHIPMENTS |
SEC Filings
The Long Run
FY 2011–2025 · 15 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $63.36B | +6.0% | |
| Operating income | $6.00B | +8.3% | |
| Net income | $5.00B | +19.5% | |
| Cash from ops | $6.46B | +6.6% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $84.00 | $85.47 | $82.33 | $84.94 | 7.07M |
| Sep 24 | $81.00 | $83.59 | $80.71 | $82.76 | 6.25M |
| Sep 23 | $82.70 | $83.13 | $81.57 | $81.75 | 6.65M |
| Sep 22 | $84.88 | $84.88 | $82.46 | $83.92 | 8.64M |
| Sep 21 | $81.00 | $82.77 | $79.85 | $82.50 | 9.20M |
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