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Earnings transcript
Read the complete earnings call transcript.
DAL
Delta Air Lines, Inc.
$81.17
2.96
(3.78%)
| Exchange: | NYSE |
| Market Cap: | 53.328B |
| Shares Outstanding: | 80.169M |
Delayed data
About The Company
| Sector: | Industrials | |||||
| Industry: | Airlines, Airports & Air Services | |||||
| CEO: | Edward H. Bastian | |||||
| Full Time Employees: | 100000 | |||||
| Address: |
| |||||
| Website: | https://www.delta.com |
Delta Air Lines, Inc. operates scheduled air transport services for both passengers and freight, serving destinations across the United States and internationally. Its operations are structured into two main segments: its core airline business and a refinery division. Domestically, its network is anchored by primary hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, further supported by coastal gateways such as Boston, Los Angeles, New York (LaGuardia and JFK), and Seattle. Globally, it maintains a significant presence through key international hubs and operational centers in cities like Amsterdam, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon. Tickets are distributed through multiple channels, including its official website (delta.com), the Fly Delta mobile app, direct reservations, online travel agencies, traditional brick-and-mortar agencies, and other distribution partners. Beyond flight services, the company offers aircraft maintenance, engineering support, repair, and overhaul capabilities. It also arranges vacation packages for external clients, along with aircraft charter services, management, and associated programs. The airline operates a vast fleet of roughly 1,200 aircraft. Established in 1924, Delta Air Lines, Inc. is headquartered in Atlanta, Georgia.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 58,048,000 | 61,643,000 | 63,364,000 |
| Gross Profit | 15,518,000 | 16,557,000 | 14,475,000 |
| EBITDA | 8,783,000 | 7,918,000 | 8,032,000 |
| Operating Income | 5,521,000 | 5,995,000 | 5,822,000 |
| Net Income | 4,609,000 | 3,457,000 | 5,005,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 73,644,000 | 75,372,000 | 81,185,000 |
| Total Liabilities | 62,539,000 | 60,079,000 | 60,432,000 |
| Total Stockholders Equity | 11,105,000 | 15,293,000 | 20,753,000 |
| Total Debt | 27,281,000 | 22,771,000 | 21,083,000 |
| Cash and Cash Equivalents | 2,741,000 | 3,069,000 | 4,310,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 6,464,000 | 8,025,000 | 8,342,000 |
| Capital Expenditure | -5,323,000 | -5,140,000 | -4,501,000 |
| Free Cash Flow | 1,141,000 | 2,885,000 | 3,841,000 |
| Net Income | 4,609,000 | 3,457,000 | 5,006,000 |
| Net Change in Cash | -464,000 | 297,000 | 1,163,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 74,055,031.776 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 80,932,743.675 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 78,228,728.600 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,481,100.635 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,618,654.873 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,564,574.572 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 6,466,902.429 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 7,261,106.951 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 6,948,861.190 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 3,427,295.728 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 3,745,598.915 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 3,620,456.043 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 10.630 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 11.100 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 9.890 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 5 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 4 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance: Delta Air Lines reported robust financial results in the September Quarter 2025 earnings call, with key metrics such as revenue and net income reflecting solid growth. The company's operating cash flow and free cash flow remain strong, indicating operational efficiency and financial health.
- Industry Leadership: As highlighted in the earnings call summary, Delta maintains a competitive edge in the airline industry, leveraging a strong customer base and disciplined capital allocation to sustain its position as a market leader.
- Positive Earnings Outlook: The forward P/E ratio (based on analyst estimates) suggests a reasonable valuation compared to historical averages, with forward_pe_avg indicating market confidence in sustained earnings growth.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates DAL intrinsic value between $65.51 – $75.94 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about DAL valuation
Is Delta Air Lines, Inc. (DAL) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Delta Air Lines, Inc. (DAL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is DAL a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether DAL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is DAL’s P/E ratio?
You can see DAL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for DAL?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is DAL a good long-term investment?
Whether DAL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
DAL
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Daily snapshot
3.78
Trading Metrics:
| Open: | 79.86 | Previous Close: | 78.21 | |
| Day Low: | 78.11 | Day High: | 81.8 | |
| Year Low: | 45.28 | Year High: | 83.83 | |
| Price Avg 50: | 71.68 | Price Avg 200: | 65.84 | |
| Volume: | 7.633M | Average Volume: | 11.249M |
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Login — it's freeDAL full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive stock analysis of Delta Air Lines, ticker symbol DAL. If you’re looking to understand whether Delta is a solid investment for 2026 and beyond, stick around because we’re covering everything—company profile, financials, revenue breakdowns, valuation, SWOT analysis, recent performance, and even an intrinsic value calculation. Let’s get started with a quick overview of who Delta is and what they’re about. If you find this analysis helpful,…
