Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
It is a $54.0B consumer company. Revenue grew 14.1% over the last year, it keeps 5¢ of every dollar of sales as profit, and its net debt equals ~1.2 years of free cash flow. It trades at 13.7× earnings — in the most expensive third of its own history.
- Website
- delta.com
- Location
- Atlanta, GA
- Employees
- 103 000
- Sector
- Consumer Cyclical
- Founded
- 1925
- Last earnings
- Oct 9, 2026
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation; Health, Quality and Moat lag behind.
Valuation80
- P/E vs own history73th pct · 5/25
- FCF yield14.8% · 25/25
- P/S0.8x · 25/25
- EV/EBITDA7.9x · 25/25
Growth70
- Revenue CAGR20.7% · 25/25
- Net income CAGR105.6% · 25/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth28.9% · 20/25
Profitability58
- ROIC16.3% · 20/25
- ROE19.3% · 20/25
- Net margin4.6% · 6/25
- Operating margin8.1% · 12/25
Health30
- Altman Zn/a · 0/25
- Current ratio0.42 · 0/25
- Interest coverage5.4x · 18/25
- Net cash / debtD/A 12% · 12/25
Quality41
- Piotroski F6/9 · 15/25
- Beneish M-2.48 · 20/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 22.3% · 6/25
Moat20
- ROIC >12% years8/10 yrs · 20/25
- Median gross margin9.2% · 0/25
- FCF-positive yearsn/a · 0/25
- Worst-year net marginworst -72.4% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$5.00B net income
- FY2022FinancialRevenue crossed $50B$50.6B for the year
- FY2021FinancialPositive free cash flow every year since5-year streak
- FY2016FinancialFirst recorded profitable year$4.37B net income
- FY2016FinancialRevenue already above $10B$39.6B in first reported year
- 2007IPOIt emerged from bankruptcy in April 2007 after fending off a hostile takeover from US Airways and its shares were…
- 1991AcquisitionIt acquired substantially all of Pan Am's trans-Atlantic routes and the Pan Am Shuttle, rebranded as the…
- 1981ProductDelta launched a frequent-flyer program
- 1970AcquisitionDelta had an all-jet fleet, and in 1972 it acquired Northeast Airlines
- 1964ProductIt launched the Deltamatic reservation systems using computers in the IBM 7070 series
- 1953AcquisitionThe company launched its first international routes after the acquisition of Chicago and Southern Air Lines
- 1949ProductThe company launched the first discounted fares between Chicago and Miami
- 1945MilestoneThe company name officially became Delta Air Lines in 1945
- 1930AcquisitionPassenger service ceased in October 1930 when the airmail contract for the route Delta had pioneered was awarded to…
- Mar 2, 1925FoundedThe company was founded on March 2, 1925, in Macon, Georgia, before moving to Monroe, Louisiana, in the summer of 1925
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (47.8%)
- Revenue growing 14.1% year over year
- Interest covered 5.4× by operating earnings
- High returns on invested capital (ROIC 16.3%)
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+14.1% YoY
- Profitable — makes more than it spends$3.29B TTM
- Profit growing — earnings are higher than last year+55.0% YoY
- Generates cash — cash left after running and investing$8.00B TTM
- Debt under control — could handle its obligations~1.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$54.0B market cap
- Not printing shares — share count not ballooning — you keep your slice+2.8% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distresshealth score 18/100
- Pays a dividend — returns cash to shareholdersyield 0.92%
- Valuation not extreme — price not wildly above earningsP/E 13.7
Peer comparisonDelta Air Lines, Inc. vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| DAL this company | $54.0B | 13.7 | +14.1% | 4.6% | Strained |
| AMZN Amazon.Com Inc | $2.8T | 20.9 | +15.8% | 17.4% | Mixed |
| TSLA Tesla, Inc. | $1.5T | 397.1 | +11.8% | 3.7% | Strong |
| NFLX NetFlix Inc | $292.8B | 21.4 | +16.0% | 28.2% | Solid |
| HD Home Depot, Inc. | $290.4B | 20.4 | -16.0% | 8.7% | Solid |
| DIS The Walt Disney Company | $186.5B | 21.7 | +4.6% | 8.7% | Solid |
| MCD McDonald's Corporation | $166.9B | 18.9 | +6.3% | 31.7% | Strained |
Head-to-head: DAL vs AMZN · DAL vs TSLA · DAL vs NFLX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/DAL
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Deeper analysis of DAL on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $82.17 · market cap $54.0B.