DELTA AIR LINES, INC. (DAL)

80.07 -1.32% (-1.07)

Over 5Y: +100.9%

2026-08-28
40 60 80
2021 2022 2023 2024 2025 2026

Financials Quarterly

Q3 '21 — Revenue: 9.2B Q3 '21 — Operating Cash Flow: 151M Q3 '21 — Free Cash Flow: -679M Q3 '21 — Net Income: 1.2B Q4 '21 — Revenue: 9.5B Q4 '21 — Operating Cash Flow: 556M Q4 '21 — Free Cash Flow: -662M Q4 '21 — Net Income: -407M Q1 '22 — Revenue: 9.3B Q1 '22 — Operating Cash Flow: 1.8B Q1 '22 — Free Cash Flow: 5M Q1 '22 — Net Income: -940M Q2 '22 — Revenue: 13.8B Q2 '22 — Operating Cash Flow: 2.5B Q2 '22 — Free Cash Flow: 1.6B Q2 '22 — Net Income: 735M Q3 '22 — Revenue: 14B Q3 '22 — Operating Cash Flow: 869M Q3 '22 — Free Cash Flow: -573M Q3 '22 — Net Income: 695M Q4 '22 — Revenue: 13.4B Q4 '22 — Operating Cash Flow: 1.2B Q4 '22 — Free Cash Flow: -1B Q4 '22 — Net Income: 829M Q1 '23 — Revenue: 12.8B Q1 '23 — Operating Cash Flow: 2.2B Q1 '23 — Free Cash Flow: 1.2B Q1 '23 — Net Income: -363M Q2 '23 — Revenue: 15.6B Q2 '23 — Operating Cash Flow: 2.6B Q2 '23 — Free Cash Flow: 1.2B Q2 '23 — Net Income: 1.8B Q3 '23 — Revenue: 15.5B Q3 '23 — Operating Cash Flow: 1.1B Q3 '23 — Free Cash Flow: -193M Q3 '23 — Net Income: 1.1B Q4 '23 — Revenue: 14.2B Q4 '23 — Operating Cash Flow: 545M Q4 '23 — Free Cash Flow: -1.1B Q4 '23 — Net Income: 2B Q1 '24 — Revenue: 13.7B Q1 '24 — Operating Cash Flow: 2.4B Q1 '24 — Free Cash Flow: 1.2B Q1 '24 — Net Income: 37M Q2 '24 — Revenue: 16.7B Q2 '24 — Operating Cash Flow: 2.4B Q2 '24 — Free Cash Flow: 1.1B Q2 '24 — Net Income: 1.3B Q3 '24 — Revenue: 15.7B Q3 '24 — Operating Cash Flow: 1.3B Q3 '24 — Free Cash Flow: -54M Q3 '24 — Net Income: 1.3B Q4 '24 — Revenue: 15.6B Q4 '24 — Operating Cash Flow: 1.9B Q4 '24 — Free Cash Flow: 584M Q4 '24 — Net Income: 843M Q1 '25 — Revenue: 14B Q1 '25 — Operating Cash Flow: 2.4B Q1 '25 — Free Cash Flow: 1.2B Q1 '25 — Net Income: 240M Q2 '25 — Revenue: 16.6B Q2 '25 — Operating Cash Flow: 1.9B Q2 '25 — Free Cash Flow: 648M Q2 '25 — Net Income: 2.1B Q3 '25 — Revenue: 16.7B Q3 '25 — Operating Cash Flow: 1.8B Q3 '25 — Free Cash Flow: 687M Q3 '25 — Net Income: 1.4B Q4 '25 — Revenue: 16B Q4 '25 — Operating Cash Flow: 2.3B Q4 '25 — Free Cash Flow: 1.4B Q4 '25 — Net Income: 1.2B Q1 '26 — Revenue: 15.9B Q1 '26 — Operating Cash Flow: 2.4B Q1 '26 — Free Cash Flow: 1.2B Q1 '26 — Net Income: -289M Q2 '26 — Revenue: 19.8B Q2 '26 — Operating Cash Flow: 1.6B Q2 '26 — Free Cash Flow: 1.4B Q2 '26 — Net Income: 1.6B 0 5B 10B 15B 20B
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

4.2
SBC / sales 0.46%
OE margin 10.1%
ROIC 12.9%
Accruals -4.8%
Gross margin 97.3%
OCF / EBIT 1.5×
ROE 18.1%
FCF margin 10.5%
OCF margin 11.9%
ROA 4.6%
ROCE 10.5%

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

6.2
Segment HHI 0.81 HHI
RPO / sales —
RPO growth —

3 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

3.8
ND/EBITDA —
Current ratio 0.42×
Payout 12.6%
Debt payback 1.6 yr
Cash / Debt 0.28×
F-score 6.0 pts
Net debt / Eq 0.54×
Debt / Eq 0.76×
Quick ratio 0.42×
Cash runway —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

3.5
Sales CAGR 4Y +20.7%
Sales/sh Y/Y +9.3%
Div. growth +37.1%
EPS CAGR 4Y +104.3%
Sales Q/Q +18.7%
Shares change +0.93%
EBIT CAGR +12.4%
EBIT Y/Y -4.6%
EPS Y/Y -12.7%
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.