US · USD

DAL

Delta Air Lines Inc

$84.13+0.80% ($0.67)Updated 10/1/26, 5:26 PM

Day's range: $82.55 – $84.23
Day's volume: $539.1M
52-week range: $55.22 – $93.43

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DAL in numbers

Market cap: $55.3B

P/E: 14.00

P/B: 2.54

Dividend yield (12m): 0.93%

Net debt/EBITDA: 1.02

The 12-month dividend yield of DAL is 0.93%, above its 5-year average of 0.46%.

DAL price history

10/02/202510/01/2026

Compare with

DAL risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+48.67%	+133.20%	+102.92%
Volatility (annualized)	31.87%	38.07%	40.16%
Largest drawdown	-16.51%	-37.96%	-37.96%
Positive months	8/12	22/36	32/60

How much did investing in DAL return?

Amount invested

$1,000.00 invested on 09/01/2021 would be worth $2,029.20 today.

Value today in DAL: $2,029.20

Return over the period: +102.92%

Return per year: +15.21%

In the S&P 500: $1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

DAL fundamentals

Valuation

P/E
14.00
P/B
2.54
EV/EBITDA
7.91
EV/EBIT
11.52
EV/Revenue
0.93
P/EBIT
10.03
P/S
0.81
P/OCF
6.80
P/FCF
—
Earnings yield
8.68%
PEG ratio
—
Earnings per share
$6.01
Book value per share
$33.17

Debt

Net debt
$8.2B
Net debt/EBITDA
1.02
Net debt/Equity
0.38
Debt/Equity
0.59
Current ratio
0.42
Quick ratio
—
Cash ratio
0.14

Efficiency

Gross margin
—
EBITDA margin
11.78%
Operating margin
8.08%
Net margin
5.79%
Asset turnover
0.79

Profitability

ROE
18.11%
ROA
4.58%
ROIC
14.26%
Payout
12.97%

Growth

Revenue CAGR (5 years)
30.11%
Earnings CAGR (5 years)
—
Revenue growth (year)
—
Earnings growth (year)
—
Revenue growth (quarter)
—
Earnings growth (quarter)
—

What is DAL's fair price?

Two classic value formulas, with today's numbers. The current price is $84.13.

Graham's fair price: $66.96; 20.40% below the price

√(22.50 × $6.01 × $33.17)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $4.59; 94.55% below the price

$0.28 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

DAL's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	9.06	11.30	5.62	15.99	89.32	-2.07	7.85	8.61
P/B	2.17	2.56	2.33	3.20	6.43	16.73	2.44	2.48
EV/EBITDA	6.57	6.04	5.17	6.23	9.98	—	4.85	5.46
Dividend yield	0.97%	0.83%	0.50%	0.00%	0.00%	1.00%	2.58%	2.63%
Earnings per share	$7.66	$5.35	$7.16	$2.06	$0.44	-$19.41	$7.45	$5.80
Book value per share	$31.93	$23.67	$17.26	$10.26	$6.07	$2.40	$23.99	$20.16
ROE	24.00%	22.61%	41.50%	20.02%	7.20%	-807.37%	31.04%	28.75%
ROIC	15.78%	16.14%	17.56%	11.76%	7.52%	-64.28%	22.54%	18.89%
EBITDA margin	13.04%	13.80%	13.54%	11.40%	12.99%	-59.42%	19.57%	17.09%
Net margin	7.90%	5.61%	7.94%	2.61%	0.94%	-72.45%	10.14%	8.86%
Net debt/EBITDA	1.09	1.44	1.88	2.57	3.54	—	0.79	1.00

DAL's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$63.4B	$61.6B	$58B	$50.6B	$29.9B	$17.1B
Cost of revenue	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—
EBITDA	$8.3B	$8.5B	$7.9B	$5.8B	$3.9B	-$10.2B
EBIT	$5.8B	$6B	$5.5B	$3.7B	$1.9B	-$12.5B
Financial result	$363M	-$1.3B	$87M	-$1.7B	-$1.5B	-$3.1B
Income before tax	$6.2B	$4.7B	$5.6B	$1.9B	$398M	-$15.6B
Income tax	-$1.2B	-$1.2B	-$999M	-$596M	-$118M	$3.2B
Net income	$5B	$3.5B	$4.6B	$1.3B	$280M	-$12.4B

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does DAL pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Dividend	10/14/2026	11/05/2026	$0.22

Dividend yield per year

1.81%2017
2.63%2018
2.58%2019
1.00%2020
0.00%2021
0.00%2022
0.50%2023
0.83%2024
0.97%2025
0.70%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	07/08/2026	07/30/2026	$0.22
Dividend	05/13/2026	06/04/2026	$0.19
Dividend	02/25/2026	03/19/2026	$0.19
Dividend	10/15/2025	11/06/2025	$0.19
Dividend	07/30/2025	08/21/2025	$0.19
Dividend	05/12/2025	06/03/2025	$0.15
Dividend	02/26/2025	03/20/2025	$0.15
Dividend	10/09/2024	10/31/2024	$0.15
Dividend	07/29/2024	08/20/2024	$0.15
Dividend	05/10/2024	06/04/2024	$0.10
Dividend	02/22/2024	03/18/2024	$0.10
Dividend	10/10/2023	11/02/2023	$0.10

See all 27 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	07/13/2023	08/07/2023	$0.10
Dividend	02/18/2020	03/12/2020	$0.40
Dividend	10/22/2019	11/14/2019	$0.40
Dividend	07/23/2019	08/15/2019	$0.40
Dividend	04/30/2019	05/23/2019	$0.35
Dividend	02/27/2019	03/22/2019	$0.35
Dividend	11/05/2018	11/28/2018	$0.35
Dividend	07/24/2018	08/16/2018	$0.35
Dividend	05/09/2018	06/01/2018	$0.31
Dividend	02/21/2018	03/16/2018	$0.31
Dividend	11/15/2017	12/08/2017	$0.31
Dividend	08/18/2017	09/13/2017	$0.31
Dividend	05/16/2017	06/09/2017	$0.20
Dividend	02/21/2017	03/17/2017	$0.20
Dividend	11/07/2016	12/02/2016	$0.20

About Delta Air Lines

Sector: Transportation and utilities

Questions about DAL

How much is DAL today?

DAL is at $84.13 (0.80% on the day), last traded on 10/01/2026.

How much did DAL pay in dividends in 2025?

DAL paid $0.68 per share in 2025, a dividend yield of 0.97%.

When is the next DAL dividend?

The next announced payment is $0.22 per share on 11/05/2026.

What are the P/E and P/B of DAL?

DAL trades at a P/E of 14.00 and a P/B of 2.54.

How much did DAL return in 12 months?

DAL returned 48.67% in 12 months, with annualized volatility of 31.87% and a largest drawdown of -16.51%.