Delta Air Lines (DAL) Stock Analysis

November 11, 2026

This is a peer-relative look at Delta Air Lines (DAL): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Transportation peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Delta Air Lines (DAL)
Profile Item	DAL
Name	Delta Air Lines, Inc.
Country/Region	United States
GICS Sector	Industrials
GICS Industry Group	Transportation
GICS Industry	Passenger Airlines
GICS Sub-Industry	Passenger Airlines
Market Capitalization	57.37 billion USD
Currency	USD
Exchange	NYSE
Listing Date	May 3, 2007
Security Type	Common Stock

Price Performance

Cumulative Growth

DAL

GSPC

Delta Air Lines (DAL) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Delta Air Lines (DAL) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Delta Air Lines (DAL) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Total Return (1Y)	56.32%	22.71%
Total Return (3Y, Annualized)	41.15%	14.66%
Total Return (5Y, Annualized)	16.27%	3.98%

Risk Profile

Drawdown History

DAL

GSPC

Delta Air Lines (DAL) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Delta Air Lines (DAL) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Volatility (1Y, Annualized)	39.27%	40.42%
Beta (5Y)	1.37	1.15
Max Drawdown (5Y)	-47.92%	-52.44%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. DAL is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Sharpe Ratio (1Y)	1.33	0.46
Sortino Ratio (1Y)	2.19	0.70

Profitability

ROE (TTM)

Delta Air Lines (DAL) posts ROE of 15.91%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

DAL

Transportation industry group

15.91%

Group distribution

Max: 45.08%
Q3: 22.02%
DAL: 15.91%
Median: 13.94%
Q1: 2.89%
Min: -10.45%

Largest peers

UNP: 38.75%
UPS: 28.65%
CSX: 26.39%
CNI: 22.45%
DAL: 15.91%
UBER: 12.33%
CP: 8.27%

Where Delta Air Lines (DAL) stands on ROE within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Delta Air Lines (DAL) keeps 4.58% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

DAL

Transportation industry group

4.58%

Group distribution

Max: 50.36%
Q3: 21.18%
Median: 5.58%
DAL: 4.58%
Q1: 1.55%
Min: -11.37%

Largest peers

UNP: 28.90%
CNI: 26.42%
CP: 24.14%
CSX: 23.97%
UBER: 6.13%
UPS: 4.84%
DAL: 4.58%

Where Delta Air Lines (DAL) stands on net margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Delta Air Lines (DAL) turns 7.22% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

DAL

Transportation industry group

7.22%

Group distribution

Max: 59.18%
Q3: 29.30%
Median: 11.50%
DAL: 7.22%
Q1: 4.62%
Min: -8.91%

Largest peers

CNI: 41.52%
UNP: 41.34%
CSX: 39.26%
CP: 38.56%
UBER: 9.80%
UPS: 9.28%
DAL: 7.22%

Where Delta Air Lines (DAL) stands on operating margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
ROE (TTM)	15.91%	13.94%
ROA (TTM)	3.95%	4.95%
Net Margin (TTM)	4.58%	5.58%
Operating Margin (TTM)	7.22%	11.50%
Gross Margin (TTM)	17.90%	27.25%

Growth

Revenue Growth

Delta Air Lines (DAL) grew revenue 2.79%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Delta Air Lines (DAL): Revenue Growth across different time periods, set against Transportation industry-group medians.

EPS Growth

Delta Air Lines (DAL) grew earnings per share 43.71%, in the upper peer quartile. Per-share profits are compounding faster than at most industry peers.

Delta Air Lines (DAL): EPS Growth across different time periods, set against Transportation industry-group medians.

Growth Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Revenue Growth (YoY)	2.79%	2.80%
Revenue Growth (3Y CAGR)	7.80%	1.66%
EPS Growth (YoY)	43.71%	-10.61%
EPS Growth (3Y CAGR)	54.92%	-7.47%

Financial Strength

Current Ratio (MRQ)

Delta Air Lines (DAL) has current ratio of 0.40, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

DAL

Transportation industry group

0.40

Group distribution

Max: 2.58
Q3: 1.62
Median: 1.16
Q1: 0.78
DAL: 0.40
Min: 0.22

Largest peers

UPS: 1.24
UBER: 1.23
UNP: 1.16
CSX: 0.84
CNI: 0.82
CP: 0.52
DAL: 0.40

Where Delta Air Lines (DAL) stands on current ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Delta Air Lines (DAL) has debt-to-equity ratio of 0.89, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

DAL

Transportation industry group

0.89

Group distribution

Max: 2.75
Q3: 1.37
DAL: 0.89
Median: 0.78
Q1: 0.35
Min: 0.00

Largest peers

UPS: 2.03
UNP: 1.41
CSX: 1.35
CNI: 1.09
DAL: 0.89
UBER: 0.61
CP: 0.55

Where Delta Air Lines (DAL) stands on debt-to-equity ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Current Ratio (MRQ)	0.40	1.16
Debt / Equity (MRQ)	0.89	0.78
Net Debt / EBITDA	2.15	2.00

Dividends

Dividend Yield (TTM)

Delta Air Lines (DAL) has dividend yield of 0.94%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

DAL

Transportation industry group

0.94%

Group distribution

Max: 4.68%
Q3: 1.99%
DAL: 0.94%
Median: 0.74%
Q1: 0.00%
Min: 0.00%

Largest peers

UPS: 5.91%
CNI: 2.87%
UNP: 1.87%
CSX: 1.08%
CP: 1.06%
DAL: 0.94%
UBER: 0.00%

Where Delta Air Lines (DAL) stands on dividend yield within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Delta Air Lines (DAL) has payout ratio of 15.52%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

DAL

Transportation industry group

15.52%

Group distribution

Max: 100.89%
Q3: 41.68%
Median: 20.43%
DAL: 15.52%
Q1: 0.00%
Min: 0.00%

Largest peers

UPS: 126.40%
CNI: 45.63%
UNP: 43.37%
CSX: 28.65%
CP: 22.91%
DAL: 15.52%
UBER: 0.00%

Where Delta Air Lines (DAL) stands on payout ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
Dividend Yield (TTM)	0.94%	0.74%
Dividend Payout Ratio (TTM)	15.52%	20.43%

Valuation

P/E Ratio (TTM)

Delta Air Lines (DAL) trades at P/E ratio of 17.41, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

DAL

Transportation industry group

17.41

Group distribution

Max: 46.76
Q3: 30.87
Median: 20.58
DAL: 17.41
Q1: 10.44
Min: 0.00

Largest peers

UBER: 40.35
CP: 29.54
CSX: 25.58
UNP: 22.63
CNI: 21.61
UPS: 20.87
DAL: 17.41

Where Delta Air Lines (DAL) stands on P/E ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Delta Air Lines (DAL) trades at 0.80 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

DAL

Transportation industry group

0.80

Group distribution

Max: 4.35
Q3: 2.07
Median: 0.93
DAL: 0.80
Q1: 0.53
Min: 0.04

Largest peers

UNP: 6.54
CSX: 6.09
CP: 5.01
CNI: 4.05
UBER: 2.48
UPS: 1.01
DAL: 0.80

Where Delta Air Lines (DAL) stands on P/S ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Delta Air Lines (DAL) trades at 2.53 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

DAL

Transportation industry group

2.53

Group distribution

Max: 6.29
Q3: 3.39
DAL: 2.53
Median: 1.90
Q1: 1.03
Min: -2.07

Largest peers

UNP: 7.83
CSX: 6.29
UPS: 6.15
UBER: 5.06
CNI: 4.77
DAL: 2.53
CP: 2.46

Where Delta Air Lines (DAL) stands on P/B ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Delta Air Lines (DAL) metric values compared with Transportation industry-group medians
Metric	Current stock: DAL	Industry group median
P/E Ratio (TTM)	17.41	20.58
P/S Ratio (TTM)	0.80	0.93
P/B Ratio (MRQ)	2.53	1.90
Free Cash Flow Yield (TTM)	4.34%	3.36%