Delta Air Lines, Inc. (DAL) Stock

Delta Air Lines, Inc. (DAL) is a Industrials stock trading at $82.32 (as of 2026-08-24), with a market capitalization of $54.14B and a trailing P/E of 22.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Delta Air Lines, Inc. provides scheduled passenger and cargo air transportation in the U.S. and internationally, operating routes through U.S. and international hubs and selling tickets via channels that include delta.com and the Fly Delta app. It also generates revenue from aircraft maintenance and repair services and related travel and aviation services.

Understand Delta Air Lines, Inc.: how it makes money

Delta Air Lines provides scheduled passenger and cargo air transportation, earning most of its revenue from passenger-related ticket business (Airline), and it also operates a Refinery segment.

Delta’s profit engine is converting scheduled air capacity into uninterrupted flights, where schedule reliability is reflected in the system-wide completion factor, which helps sustain passenger revenue rather than lost travel.

Business quality (Weak): Delta’s reported operating picture ties closely to airline execution and schedule reliability, highlighted by a very high system-wide completion factor, but earnings still have concentration to passenger demand and are sensitive to operational disruptions.

Valuation: At 13× earnings, DAL trades 28% below the Transportation average (18×). Note: one-time items can distort reported P/E.

Bull case

  • High schedule reliability: System-wide completion factor is 99.5% for the latest period, indicating flights are getting completed as planned.
  • Passenger business is the core revenue driver: Passenger revenue is 14.6B, supporting that Delta’s primary value creation comes from transporting passengers.

Bear case

  • Concentration in passenger revenue: Passenger revenue represents the largest share of the provided revenue categories, so weaker passenger demand or travel disruption would likely be a direct headwind.
  • Execution sensitivity: The business depends on completing flights, so any decline in completion factor or operational performance would reduce the ability to monetize scheduled capacity.
Valuation — source: SEC EDGAR (first-party)
Price$82.32
Market Cap$54.14B
P/E Ratio22.2
EV / EBITDA8.8
Price / Book2.48
Price / Sales0.79
FCF Yield13.6%
DCF Value (model)$87.29
DCF Upside vs Price6.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$63.36B
Net Margin7.9%
Revenue Growth (YoY)2.8%
EPS Growth (YoY)43.2%
FCF Growth (YoY)33.2%
Financial Health — source: SEC EDGAR
Altman Z-Score1.53 (distress)
Valuation vs Sector & Industry
Stock P/E22.2
Sector P/E (Industrials)26.0
Industry P/E (Transportation)17.0
vs Sector-14.7%
vs Industry30.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($5.17B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorIndustrials
IndustryTransportation
CEOEdward H. Bastian
Employees100,000
CountryUS
IPO Date2007-05-03

Related Companies (Transportation; 8 comparable transport companies)

  • United Airlines Holdings, Inc. (UAL)
  • American Airlines Group Inc. (AAL)
  • Southwest Airlines Co. (LUV)
  • Alaska Air Group, Inc. (ALK)
  • JetBlue Airways Corporation (JBLU)
  • SkyWest, Inc. (SKYW)
  • Frontier Group Holdings, Inc. (ULCC)
  • Allegiant Travel Company (ALGT)
DAL earnings history · DAL institutional & insider holders · DAL KPIs & operating metrics · DAL financials · DAL investor presentations & press releases · DAL SEC filings · DAL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.