A Business at a Glance
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As a global airline based in the United States, we connect customers across our expansive global network with a commitment to ensuring that the future of travel is connected, personalized and enjoyable. In 2025, we served over 200 million customers safely, reliably and with industry-leading customer service innovation. Competitive Advantages and Brand Strength As we celebrated our centennial year in 2025, we continued to differentiate Delta from the industry and to invest in extending our competitive advantages. These enduring competitive advantages, which support our trusted consumer brand, include our people and culture, operational reliability, global network, customer loyalty and financial foundation. People and Culture The Delta people and culture are our strongest competitive advantage. Our more than 100,000 employees provide world-class travel experiences for our customers and best-in-class service.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 63.4B | 63.4B | 61.6B | 58.0B | 50.6B | 29.9B |
| Net Income | 5.0B | 5.0B | 3.5B | 4.6B | 1.3B | 280M |
| EPS | $7.66 | $7.66 | $5.33 | $7.17 | $2.06 | $0.44 |
| Free Cash Flow | 3.8B | 3.8B | 2.9B | 1.1B | -3.0M | 17M |
| ROIC | 14.6% | 17.0% | 16.2% | 15.0% | 9.9% | 6.2% |
| Gross Margin | 72.4% | 72.4% | 73.8% | 74.8% | 76.5% | 67.5% |
| Debt/Equity | 0.75 | 0.75 | 1.20 | 2.07 | 3.86 | 7.38 |
| Dividends/Share | $0.67 | $0.68 | $0.50 | $0.20 | $0.00 | $0.00 |
| Operating Income | 5.8B | 5.8B | 6.0B | 5.5B | 3.7B | 1.9B |
| Operating Margin | 9.2% | 9.2% | 9.7% | 9.5% | 7.2% | 6.3% |
| ROE | 24.0% | 27.7% | 22.6% | 41.5% | 20.0% | 7.2% |
| Shares Outstanding | 653M | 653M | 649M | 643M | 640M | 636M |
DELTA AIR LINES, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
DELTA AIR LINES, INC. trades at 8.8x trailing earnings, compared to its 15-year median P/E of 9.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 5.3x vs a median of 13.6x. The company's 5-year average ROIC is 12.9% with a gross margin of 73.0%. Total shareholder yield (dividends) is 1.0%. At current prices, the estimated annualized return to fair value is +6.1%.
DELTA AIR LINES, INC. (DAL) has a current P/E ratio of 8.8, compared to its historical median P/E of 9.2. The stock is currently considered Fair based on its historical valuation range.
DELTA AIR LINES, INC. (DAL) has a 5-year average return on invested capital (ROIC) of 12.9%. This indicates solid capital allocation.
DELTA AIR LINES, INC. (DAL) has a market capitalization of $43.8B. It is classified as a large-cap stock.
Yes, DELTA AIR LINES, INC. (DAL) pays a dividend with a trailing twelve-month yield of 1.00%.
Based on historical P/E analysis, DELTA AIR LINES, INC. (DAL) appears fair. The current P/E of 8.8 is 5% below its historical median of 9.2. The estimated fair value CAGR (P/E method) is 3.9%.
DELTA AIR LINES, INC. (DAL) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
DELTA AIR LINES, INC. (DAL) reported annual revenue of $63.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
DELTA AIR LINES, INC. (DAL) has a net profit margin of 7.9%. This is a modest margin.
DELTA AIR LINES, INC. (DAL) generated $3.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
DELTA AIR LINES, INC. (DAL) has a debt-to-equity ratio of 0.75. This indicates moderate leverage.
DELTA AIR LINES, INC. (DAL) reported earnings per share (EPS) of $7.66 in its most recent fiscal year.
DELTA AIR LINES, INC. (DAL) has a return on equity (ROE) of 27.7%. This indicates the company generates strong returns for shareholders.
DELTA AIR LINES, INC. (DAL) has a 5-year average gross margin of 73.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for DELTA AIR LINES, INC. (DAL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
DELTA AIR LINES, INC. (DAL) has a book value per share of $31.91, based on its most recent annual SEC filing.