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Earnings transcript
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DAL
Delta Air Lines, Inc.
$66.76
-0.84
(-1.24%)
| Exchange: | NYSE |
| Market Cap: | 43.603B |
| Shares Outstanding: | 80.169M |
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. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon. The company sells its tickets through various distribution channels, including delta.com and the Fly Delta app, reservations, online travel agencies, traditional brick and mortar, and other agencies. It also provides aircraft maintenance and engineering support, repair, and overhaul services; and vacation packages to third-party consumers, as well as aircraft charters, and management and programs. The company operates through a fleet of approximately 1,200 aircrafts. Delta Air Lines, Inc. was founded in 1924 and is based 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) | 74,347,400.718 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 81,341,274.531 | 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) | 1,486,948.014 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,626,825.490 | 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) | 6,327,947.049 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 7,114,113.910 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 6,764,236.990 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 3,440,826.677 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 3,764,505.882 | 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) | 10.340 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 10.880 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 9.680 | 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) | 1 | 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.
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
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
-1.24
Trading Metrics:
| Open: | 64.9 | Previous Close: | 67.6 | |
| Day Low: | 64.17 | Day High: | 67.38 | |
| Year Low: | 34.74 | Year High: | 76.39 | |
| Price Avg 50: | 66.53 | Price Avg 200: | 61.64 | |
| Volume: | 11.233M | Average Volume: | 11.785M |
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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,…
