Delta Air Lines, Inc.

Delta Air Lines, Inc.

DAL

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Market Cap$57.41B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Delta Air Lines, Inc.Delta Air Lines, Inc.14.40.89%18%0.81.6

Earnings Call Q2 2026

July 10, 2026 - AI Summary

Record profitability & strong demand (good) - Delta reported June quarter pretax profit of ~$1.4B, EPS $1.56, and operating margin ~9%—all better than start-of-quarter guidance. - Record revenue: +14% YoY to $17.7B, driven by ~1% capacity growth and unit revenue growth +12.4%. - First half free cash flow: ~$1.4B; operating cash flow ~$4B through the first half; free cash flow ~$1.4B after ~$2.6B reinvestment.
Full-year outlook affirmed; upside supported by fuel recapture & pricing durability (good/forecast) - Delta affirmed 2026 guidance: EPS $6.50–$7.50 (+20% YoY). - Free cash flow outlook: $3B–$4B, implying 3-year cumulative FCF >$11B (per management). - Management expects return to earnings growth with double-digit operating margins in 2H 2026, supported by measured capacity and a more stable fuel environment. - Q3 expectations: operating margin 11%–13% and EPS $2.20–$2.50 (vs $1.70 last year), while costs face ongoing fuel pressure.
Fuel is the key challenge—but Delta’s model is absorbing it (bad/challenge + strategy) - Delta highlighted the highest fuel costs in its history: - Fuel expense $4.4B in the quarter, up nearly $2B YoY. - Fuel price per gallon avg ~$3.93 (including $0.11 refinery benefit, partially offset by outage impact). - Despite this, Delta claims structural advantages and fuel recapture strategy helped outcomes. - Outlook assumes all-in fuel ~$3.50/gallon (including $0.05 refinery benefit); Delta expects fuel expense ~40% higher than last year in Q3. - Investor-relevant “risk framing”: if fuel moderates or if pricing weakens, margins could still hold—but management repeatedly stresses the industry is still dealing with inflation in non-fuel and elevated fuel volatility.

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$101.35

Target Price by Analysts

16% upsideDelta Air Lines Target Price DetailsTarget Price
$135.01

Current Fair Value

54.5% upside

Undervalued by 54.5% based on the discounted cash flow analysis.

Share Statistics

Market cap$57.41 Billion
Enterprise Value$88.00 Billion
Dividend Yield$0.78 (0.89%)
Earnings per Share$7.72
Beta1.29
Outstanding Shares653,000,000

Return

Return on Equity18.11%ROE
Return on Assets4.58%
Return on Invested Capital10.91%

Valuation & Multiples

P/E Ratio14.37P/E Ratio
PEG-58.2PEG
Price to Sales0.84Price to Sales
Price to Book Ratio2.65Price to Book Ratio
Enterprise Value to Revenue1.29
Enterprise Value to EBIT15.3
Enterprise Value to Net Income22
Total Debt to Enterprise0.4
Debt to Equity1.62Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 9, 2026
EPS Estimate
$1.49
Average shareholder expectation
Revenue Estimate
$17.43 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 8, 2026
EPS Estimate
$2.15
Average shareholder expectation
Revenue Estimate
$17.39 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 85.06%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %0.15%▼ 88.89%
Total Invested$91.55M▼ 99.76%
Investors Holding84▼ 1338.00%

ESG Score

No data

About Delta Air Lines, Inc.

Delta Air Lines is the U.S. global airline leader in safety, innovation, reliability and customer experience. Powered by its employees around the world, Delta has for a decade led the airline industry in operational excellence while maintaining its reputation for award-winning customer service.

Relevant Senate Committees

Joint Committee on Taxation

Provides critical analysis and official scoring for all tax legislation, directly shaping corporate tax policy and financial implications for Delta.

Finance

Directly controls tax policy and international trade, profoundly impacting a global airline's profitability, international operations, and costs (e.g., through tariffs on aircraft or parts).

Appropriations

Directly controls federal funding for air traffic control, airport infrastructure, security, and government travel, significantly impacting airline operations and revenue.

Health, Education, Labor, and Pensions

Directly impacts labor laws, union regulations, and workforce costs, which are significant for airlines with large workforces like Delta.

Judiciary

Direct oversight of antitrust laws and enforcement, which critically impacts airline mergers, acquisitions, and competitive practices within the industry.

Banking, Housing, and Urban Affairs

Directly regulates the financial industry, impacting airline financing, credit markets, and partnerships (e.g., co-branded credit cards), crucial for Delta's operations.

Commerce, Science, and Transportation

Primary regulator for the airline industry, overseeing the FAA, air traffic control, safety, interstate commerce, and consumer protection for air travel.

Energy and Natural Resources

Directly impacts national energy policy, which determines fuel supply and pricing, a major operating cost for airlines like Delta.

Foreign Relations

Directly shapes foreign policy, treaties, and sanctions which significantly impact international routes, fuel costs, and overall demand for a global airline such as Delta.

Homeland Security and Governmental Affairs

Direct oversight of national security and government operations, including airport security protocols (TSA) and federal travel contracts critical for airlines like Delta.