Reading the tape
NYSE: DAL
Delta Air Lines, Inc.
Industrials · Airlines, Airports & Air Services
Market Cap
$48.18B
52w High
$76.39
52w Low
$45.28
P/E
10.68
Volume
5.06M
Outstanding Shares
656.99M
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveModerate confidence
1Y Price: 51.07%Revenue (TTM): 5.24%FCF (TTM): 38.77%P/FCF: 32nd pct
What changed
The stock rose 51.07% over the last year. Revenue grew 5.24% over the trailing twelve months. Operating margin moved from 9.61% to 8.83%. Free cash flow grew 38.77% over the trailing twelve months.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 32nd percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 8.83%. Revenue grew 5.24% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally.
CEOEdward H. Bastian
SectorIndustrials
IndustryAirlines, Airports & Air Services
Employees100,000
IPO dateMay 3, 2007
Valuation
Forward P/E—
EV/EBITDA7.69
Enterprise value$61.74B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth12.92%
Gross margin26.19%▼14.95%vs FY2024
Operating margin8.83%▼5.52%vs FY2024
ROE24.12%▲6.69%vs FY2024
Analyst consensus
RatingBuy
Target price$83.27▲13.56%
36
Buy
8
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 9, 2026
Q3 FY26 · EPS est $1.45 · Revenue est $17.39B
View
Dividends
$0.75/shareQuarterlyEx-div May 14, 2026 · in 4dSafeDAL pays a dividend with a 1.02% declared yield, covered 8.7× by free cash flow.
Declared Yield
1.02%
Annual Div / Share
$0.75
TTM $0.71
5yr CAGR
-9.91%
Dividend has been cut
Payout Ratio
10.5%
Safe
Dividend Growth Rate
3yr CAGR
-9.91%
5yr CAGR
-9.91%
10yr CAGR
+0.1%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$0.75+25.0%
2025$0.60+50.0%
2024$0.40-74.3%
2019$1.56+14.9%
2018$1.35+21.3%
2017$1.12+50.5%
2016$0.74+50.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$10/yr
$1/mo
In 5 yrs
$10/yr
$1/mo
In 10 yrs
$10/yr
$1/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$10/yr $1/mo | $10/yr $1/mo | $10/yr $1/mo |
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 8.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Risks to Watch
Dividend has been reduced
The 5-year dividend CAGR of -9.91% is negative, indicating the payout has been cut over this period.