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Stock research / United States / DAL · Air Transportation, Scheduled · NYSE

Delta Air Lines, Inc. (DAL)

Delta is a global airline based in the United States. It served over 200 million customers in 2025, its centennial year, and employs more than 100,000 people. At the end of 2025 it offered up to 5,500 flights on a peak day to more than 300 destinations on six continents, flying a fleet of 1,314 aircraft; with its alliance partners it reaches over 150 countries and territories and nearly 1,000 destinations. Alongside flying, the company runs a loyalty programme, an engine and airframe maintenance business, a cargo operation, a holiday business and an oil refinery.

Delta Air Lines, Inc.

Delta is a global airline based in the United States. It served over 200 million customers in 2025, its centennial year, and employs more than 100,000 people. At the end of 2025 it offered up to 5,500 flights on a peak day to more than 300 destinations on six continents, flying a fleet of 1,314 aircraft; with its alliance partners it reaches over 150 countries and territories and nearly 1,000 destinations. Alongside flying, the company runs a loyalty programme, an engine and airframe maintenance business, a cargo operation, a holiday business and an oil refinery.

The network

The company concentrated on adding flights at its core hubs during 2025 while making its coastal hubs more efficient, using those coastal gateways and its airline partners to extend international service. It holds hubs in, or a market presence in, Amsterdam, Bogota, Lima, London-Heathrow, Mexico City, Paris-Charles de Gaulle, Santiago, São Paulo, Seoul-Incheon and Tokyo. The named alliance partners are Aeroméxico, Air France-KLM, China Eastern, LATAM Airlines Group, Korean Air, Virgin Atlantic and WestJet. The most substantial of these arrangements are commercial joint ventures or cooperation agreements covering joint sales and marketing, shared airport facilities and other commercial cooperation, and in some cases the company has taken equity stakes to deepen them.

The fleet and the regional carriers

The fleet varies in size and capability so aircraft can be matched to routes. The company is buying new, more fuel-efficient aircraft with more premium seats and cargo capacity to replace retiring ones, refitting existing cabins to add premium seating and harmonise interiors, and simplifying the fleet by replacing retirements with next-generation aircraft. Regional flying is done under the Delta Connection banner by carriers operating aircraft using the company's DL designator code: Endeavor Air, a wholly owned subsidiary, Republic Airways and SkyWest Airlines. Those contracts are primarily capacity purchase arrangements.

SkyMiles and American Express

Miles can be redeemed for flights and upgrades on Delta, its regional carriers and other participating airlines, and for charitable donations among other things. In 2025 programme members redeemed miles for approximately 35 million award tickets. The most valuable contract to sell miles is the co-brand credit card relationship with American Express, which paid $8.2 billion in 2025; the company says it expects that to grow to $10 billion over the next few years.

The businesses beyond flying

Premium products, Delta One, First Class, Delta Premium Select and Delta Comfort+, are a named focus, and the filing states that premium yield growth has outpaced the main cabin. The maintenance, repair and overhaul operation holds contractual agreements with jet engine manufacturers covering both legacy and next-generation engines, and also does airframe and other maintenance work. Cargo operations and Delta Vacations sit alongside them. Monroe, the company's refinery subsidiary, runs the Trainer refinery, which is subject to environmental law and to the Renewable Fuel Standard; because Monroe can blend only a small amount of renewable fuel itself, it has to buy most of its Renewable Identification Numbers on the secondary market, where prices have been volatile.

People and pay

Approximately 20 percent of full-time equivalent employees were represented by unions at the end of 2025, and approximately 200 refinery employees at Monroe are represented by the United Steel Workers under an agreement expiring on 28 February 2026, governed by the National Labor Relations Act, which generally lets either side resort to self-help once an agreement expires. Some employees outside the United States are represented by unions, work councils or local groups. Profit sharing paid $1.3 billion to employees in February 2026 for 2025, and the Shared Rewards programme, which pays for operational performance, paid $67 million during 2025.

Regulation

Flight operations are authorised by certificates of public convenience and necessity and by exemptions and limited-entry frequency awards from the Department of Transportation. International flying depends on bilateral agreements between the United States and the countries served, and on a multilateral agreement with the European Union, so changes in aviation policy can alter or end those agreements and affect the value of route authorities. The United States has negotiated Open Skies agreements with many countries, which allow unrestricted access between those markets.

From Delta's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Delta Air Lines became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 9 October 2026
Revenue
$20.2 billion
+21.1% on the year · +2.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$756 million
-46.6% on the year · -52.9% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.15
-47.0% on the year · -52.9% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 11 February 2026
Revenue
$63.4 billion
+2.8% on the year
FY2018FY2025
Net income
$5.0 billion
+44.8% on the year
FY2018FY2025
Diluted EPS
$7.66
+43.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsDelta Air Lines (DAL) reported revenue of $63.4 billion for fiscal 2025, the year ended 31 December 2025, up 2.8% on the year before. Net income was $5.0 billion and diluted earnings per share $7.66. Revenue was $61.6 billion in fiscal 2024, $58.0 billion in fiscal 2023, $50.6 billion in fiscal 2022 and $29.9 billion in fiscal 2021. Net income in the same years was $3.5 billion, $4.6 billion, $1.3 billion and $280 million. Over the twelve months to 30 September 2026, Delta Air Lines reported revenue of $71.8 billion and net income of $3.3 billion. Revenue grew 30.0% a year, compounded, over the five years to fiscal 2025. Delta Air Lines declared $0.68 a share in dividends over the last four quarters and had 658 million shares outstanding at the latest filed count. At 30 September 2026 it carried $14.0 billion of debt and $3.8 billion of cash. At the close of 6 November 2026 the market cap of Delta Air Lines was $57.4 billion, 17.4 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE14.6%
ROCE14.5%
Operating margin7.4%
Net margin4.6%
FCF marginn/a
Interest cover8.8x
Debt to equity0.62x
Cash conversion2.43x
Share count, last 12 months0.8%
Sales CAGR, 3 years7.8%
Profit CAGR, 3 years56.0%
EPS, TTM$5.01

At the close of 6 November 2026

Price$87.19
Market cap$57.4 billion
Stock P/E17.4x
Price to book2.5x
EV / EBITDA8.6x
Dividend yield0.8%
Market cap / sales0.80x
52-week high$93.66
52-week low$55.76
Price, 1 year50.8%
Price CAGR, 3 years37.6%
Price CAGR, 5 years14.5%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Delta Air Lines, Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
DALgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue9,4699,34813,82413,97513,43512,75915,57815,48814,22313,74816,65815,67715,56014,04016,64816,67316,00315,85419,75720,186
Operating income263-7831,5191,4561,469-2772,4911,9841,3236142,2671,3971,7175692,1021,6841,4675011,8641,454
Operating margin3%-8%11%10%11%-2%16%13%9%4%14%9%11%4%13%10%9%3%9%7%
Interest expensen/an/an/an/an/an/a203196n/a205188173181179172171157151144146
Pre-tax income-395-1,2001,0339621,119-5062,3171,5212,2761221,7731,5611,2023202,5741,7771,514-2142,0091,074
Tax raten/an/a29%28%26%n/a21%27%11%70%26%19%30%25%17%20%20%n/a20%30%
Net income-407-940735695828-3631,8271,1082,03737.01,3051,2728432402,1301,4171,218-2891,604756
Net margin-4%-10%5%5%6%-3%12%7%14%0%8%8%5%2%13%8%8%-2%8%4%
Diluted EPS-$0.62-$1.48$1.15$1.08$1.29-$0.57$2.84$1.72$3.16$0.06$2.01$1.97$1.29$0.37$3.27$2.17$1.86-$0.44$2.44$1.15
Operating cash flow5561,7712,5358691,1882,2352,6081,0765452,4082,4491,2741,8942,3781,8571,8472,2602,4321,5951,713
Capital expenditure1,2181,7669581,4422,2001,0001,4521,2691,6021,1931,3081,3281,3111,2241,2091,1609061,200n/an/a
Free cash flow-6625.01,577-573-1,0121,2351,156-193-1,0571,2151,141-54.05831,1546486871,3541,232n/an/a
Buybacks0.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Dividends paid0.00.00.00.00.00.00.064.064.064.064.097.096.099.097.0122122129123141
Shares outstanding640m641m641m641m641m643m643m643m643m645m645m645m646m653m653m653m653m657m658m658m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2009 †FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue28,06331,75535,11536,67037,77340,36240,70439,45041,13844,43847,00717,09529,89950,58258,04861,64363,36471,800
Operating income-3242,2171,9752,1753,4002,2067,8026,9965,9665,2646,618-12,4691,8863,6615,5215,9955,8225,286
Operating margin-1.2%7.0%5.6%5.9%9.0%5.5%19.2%17.7%14.5%11.8%14.1%-72.9%6.3%7.2%9.5%9.7%9.2%7.4%
Interest expense9081,004n/a1,005852650481388396n/an/an/an/a1,029834747679598
Pre-tax income-1,5816087691,0252,5271,0727,1576,3535,5005,1516,198-15,5873981,9145,6084,6586,1854,383
Income tax-34415.0-85.016.0-8,0134132,6312,1582,2951,2161,431-3,2021185969991,2011,1801,094
Effective tax raten/a2.5%-11.1%1.6%-317.1%38.5%36.8%34.0%41.7%23.6%23.1%n/a29.6%31.1%17.8%25.8%19.1%25.0%
Net income-1,2375938541,00910,5406594,5264,1953,2053,9354,767-12,3852801,3184,6093,4575,0053,289
Net margin-4.4%1.9%2.4%2.8%27.9%1.6%11.1%10.6%7.8%8.9%10.1%-72.4%0.9%2.6%7.9%5.6%7.9%4.6%
Diluted EPS-$1.50$0.70$1.01$1.19$12.29$0.78$5.63$5.55$4.43$5.67$7.30-$19.49$0.44$2.06$7.17$5.33$7.66$5.01
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Airline54,66957,00158,28789.3%
Refinery7,5727,7676,96110.7%
Sales between segments, taken out-4,193-3,125-1,884n/a
AirlineRefinery
62.2FY202364.8FY202465.2FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Sales between segments, taken out is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2023 to FY2025

The operating profit each segment reports. Costs Delta Air Lines does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2023FY2024FY2025Margin
FY2025
Airline5,1365,9575,6659.7%
Refinery385381572.3%
AirlineRefinery
5,521FY20235,995FY20245,822FY2025

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Airline89%97%
Refinery11%3%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Air traffic liabilityn/an/an/an/an/an/an/a43,59645,09645,48871.9%
Refineryn/an/an/an/an/an/an/a3,3794,6425,0778.0%
Loyalty travel awardsn/an/an/an/an/an/an/a3,4623,8414,2376.7%
Loyalty programn/an/an/an/an/an/an/a3,0933,2973,3625.3%
Travel-related servicesn/an/an/an/an/an/an/a1,8511,9572,0433.2%
Miscellaneousn/an/an/an/an/an/an/a1,1041,2161,3202.1%
Ancillary businessesn/an/an/an/an/an/an/a8407729371.5%
Product And Service, Other, MRO Businessn/an/an/an/an/an/an/an/a6588221.3%
Cargo6847448657536081,0321,050n/an/an/an/a
Other2,9523,4473,8183,9773,6046,3489,314n/an/an/an/a
Passenger35,81436,94739,75542,27712,88322,51940,218n/an/an/an/a
Air traffic liability FY2023 to FY2025Refinery FY2023 to FY2025Loyalty travel awards FY2023 to FY2025Loyalty program FY2023 to FY2025Travel-related services FY2023 to FY2025Miscellaneous FY2023 to FY2025Ancillary businesses FY2023 to FY2025Product And Service, Other, MRO Business FY2024 to FY2025Passenger FY2016 to FY2022Other FY2016 to FY2022Cargo FY2016 to FY2022
41.1FY201747.0FY201929.9FY202157.3FY202363.3FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2009 †FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow1,3792,8322,8342,4764,5044,9477,9277,2055,0237,0148,425-3,7933,2646,3636,4648,0258,3428,000
Capital expendituren/an/an/a1,9682,5682,2492,9453,3913,8915,1684,9361,8993,2476,3665,3235,1404,499n/a
Free cash flown/an/an/a5081,9362,6984,9823,8141,1321,8463,489-5,69217.0-3.01,1412,8853,843n/a
Free cash flow marginn/an/an/a1.4%5.1%6.7%12.2%9.7%2.8%4.2%7.4%-33.3%0.1%-0.0%2.0%4.7%6.1%n/a
Cash from investing-1,008-2,026-1,498-1,962-2,756-2,463-3,955-2,155-5,266-4,393-4,563-9,238-898-6,924-3,148-3,739-4,186-4,806
Cash from financing-19.0-2,521-1,571-755-1,320-3,240-4,088-4,260-730-1,726-2,88019,356-3,852-4,535-3,394-4,260-3,076-3,283
Depreciation and amortisation1,5361,5111,5231,5651,6581,7711,8351,8862,2222,3292,5812,3121,9982,1072,3412,5132,4432,584
Share-based compensation10889.072.054.090.081.076.0154169159161119149150180236313n/a
Buybacksn/an/a0.00.02501,1002,2002,6011,6771,5752,0273440.00.0n/an/an/an/a
Dividends paidn/an/a0.00.01022513595097319099802600.00.0128321440515
Dividend per sharen/an/a$0.00$0.00$0.12$0.30$0.45$0.68$1.02$1.31$1.51$0.40$0.00$0.00$0.20$0.50$0.68n/a
Diluted shares, weighted827m843m844m850m858m845m804m755m723m694m653m636m641m641m643m648m654m659m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a658m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2009 †FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity245897-1,396-2,13111,6438,81310,85011,27912,53013,68715,3581,5343,8876,58211,10515,29320,85322,513
Debt16,66515,25214,10913,16410,8459,2637,9467,0089,93410,84611,89630,25728,02024,13021,15417,29415,21213,951
Operating lease liabilitiesn/an/an/an/an/an/an/an/a0.05,8015,2945,7137,0566,8666,4685,8145,3535,072
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/a2948218941,5561,3451,086473572n/a
Other liabilities26,87927,03930,78633,51729,61635,92934,33833,56331,20729,63831,16333,59831,94033,36533,83136,49839,32744,512
Total liabilities and equity43,78943,18843,49944,55052,10454,00553,13451,85053,67160,26664,53271,99672,45972,28873,64475,37281,31786,048
Owned
Fixed assets20,43320,30720,22320,71321,85421,92923,03924,37526,56328,335n/an/an/an/an/an/an/an/a
Goodwill9,7879,7949,7949,7949,7949,7949,7949,7949,7949,7819,7819,7539,7539,7539,7539,7539,7539,753
Intangible assets4,8294,7494,7514,6794,6584,6034,8614,8444,8474,8305,1636,0116,0015,9925,9835,9755,9665,960
Investments71.08379589589591,2171,4654878252030.05,7893,3863,2681,1270.0n/an/a
Cash and equivalents4,6072,8922,6572,4162,8442,0881,9722,7621,8141,5652,8828,3077,9333,2662,7413,0694,3103,787
Receivables1,3531,4561,5631,6931,6092,2972,0202,0642,3772,3142,8541,3962,4043,1763,1303,2242,8504,325
Other assets2,7093,1533,5534,29710,38612,0779,9837,5247,45113,23843,85240,74042,98246,83350,91053,35158,43862,223
Total assets43,78943,18843,49944,55052,10454,00553,13451,85053,67160,26664,53271,99672,45972,28873,64475,37281,31786,048
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.5%30.0%7.8%14.1%
Profit growth, compounded1.0%n/a56.0%-29.0%
Return on equity, average-56.9%23.1%29.4%24.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Delta Air Lines' revenue in fiscal 2025?

Delta Air Lines (DAL) reported revenue of $63.4 billion for fiscal 2025, the year ended 31 December 2025, up 2.8% on the year before.

How much did Delta Air Lines earn in fiscal 2025?

Net income was $5.0 billion for fiscal 2025, and diluted earnings per share $7.66.

What is Delta Air Lines' P/E ratio?

At the close of 6 November 2026, Delta Air Lines traded at 17.4 times its earnings over the twelve months to 30 September 2026.

What is Delta Air Lines' market cap?

The market cap of Delta Air Lines was $57.4 billion at the close of 6 November 2026.

Does Delta Air Lines pay a dividend?

Yes. Delta Air Lines declared $0.68 a share in dividends over the four quarters to 30 September 2026.

Peers: Transportation

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
FedEx Corp. FDX$72.2 billionn/an/an/an/a0.501.8%
Norfolk Southern Corp. NSC$71.9 billion26.8216.0%31.5%6.0%0.991.7%
Delta Air Lines, Inc. DAL$57.4 billion17.4014.6%7.4%14.1%0.620.8%
Mplx LP MPLX$56.6 billion13.06n/a42.0%3.1%n/an/a
United Airlines Holdings, Inc. UAL$36.6 billion10.3220.1%7.5%12.3%1.49n/a
Southwest Airlines Co. LUV$21.8 billion21.3714.4%4.4%14.5%0.801.6%
American Airlines Group Inc. AAL$8.7 billionn/an/a1.6%12.3%n/an/a
Alaska Air Group, Inc. ALK$4.3 billionn/a-11.2%-1.9%8.2%1.74n/a
Skywest Inc. SKYW$3.0 billion7.6814.7%13.9%7.0%0.84n/a
Allegiant Travel Co. ALGT$2.5 billion28.203.1%5.5%27.8%1.660.0%
Frontier Group Holdings, Inc. ULCC$1.7 billionn/a-1,116.2%-9.5%24.0%13.14n/a
JetBlue Airways Corp. JBLU$1.4 billionn/a-74.8%-6.1%9.9%6.28n/a
All 68 in Transportation
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Union Pacific Corp. UNP$172.5 billion22.6234.6%40.1%7.4%1.381.9%
Booking Holdings Inc. BKNG$119.5 billion17.37n/a32.8%8.0%n/a0.2%
Enbridge Inc. ENB$104.5 billion16.2810.0%12.2%40.0%1.568.0%
United Parcel Service Inc. UPS$92.3 billion20.8329.5%7.1%2.1%1.746.1%
CSX Corp. CSX$90.5 billion25.4424.9%36.4%5.8%1.311.1%
Royal Caribbean Cruises Ltd. RCL$87.5 billion19.3738.8%27.6%9.7%1.911.7%
Canadian Pacific Kansas City Ltd. CP$80.1 billion21.288.4%36.4%6.5%0.491.1%
FedEx Corp. FDX$72.2 billionn/an/an/an/a0.501.8%
Norfolk Southern Corp. NSC$71.9 billion26.8216.0%31.5%6.0%0.991.7%
Delta Air Lines, Inc. DAL$57.4 billion17.4014.6%7.4%14.1%0.620.8%
Mplx LP MPLX$56.6 billion13.06n/a42.0%3.1%n/an/a
Carnival Corp. Ltd. CCL$39.8 billion12.9222.1%16.0%5.2%1.73n/a
United Airlines Holdings, Inc. UAL$36.6 billion10.3220.1%7.5%12.3%1.49n/a
Old Dominion Freight Line, Inc. ODFL$34.1 billion29.6724.9%26.6%3.8%0.000.7%
Expedia Group, Inc. EXPE$29.3 billion15.13127.5%17.2%12.9%3.310.7%
Expeditors International of Washington Inc. EXPD$23.9 billion23.4344.5%10.1%18.6%0.000.8%
Southwest Airlines Co. LUV$21.8 billion21.3714.4%4.4%14.5%0.801.6%
Xpo, Inc. XPO$20.7 billion41.7425.5%9.9%9.5%1.58n/a
J.B. Hunt Transport Services, Inc. JBHT$20.3 billion30.5618.6%7.2%10.6%0.310.8%
Plains ALL American Pipeline LP PAA$16.9 billionn/an/a3.1%12.2%n/an/a
HF Sinclair Corp. DINO$16.7 billion4.9330.1%13.5%29.5%0.242.1%
ZTO Express (Cayman) Inc. ZTO *$16.4 billion12.3713.7%21.3%10.9%n/a3.2%
C. H. Robinson Worldwide, Inc. CHRW$14.5 billion22.5042.3%4.9%10.4%1.182.0%
Knight-Swift Transportation Holdings Inc. KNX$9.5 billion62.832.2%4.2%7.0%0.261.3%
Saia Inc. SAIA$8.9 billion31.4710.0%10.7%9.3%0.04n/a
American Airlines Group Inc. AAL$8.7 billionn/an/a1.6%12.3%n/an/a
Norwegian Cruise Line Holdings Ltd. NCLH$8.2 billion9.8926.5%13.8%4.9%4.79n/a
Gatx Corp. GATX$6.4 billion16.9714.0%29.9%29.7%4.291.4%
Kirby Corp. KEX$6.3 billion17.4410.9%14.2%8.5%0.31n/a
Matson, Inc. MATX$6.3 billion11.9918.4%16.8%9.2%0.110.7%
GXO Logistics, Inc. GXO$6.2 billion46.804.5%2.2%7.1%0.94n/a
Plains GP Holdings LP PAGP$5.1 billionn/an/a3.1%12.2%n/an/a
Schneider National, Inc. SNDR$4.9 billion34.354.6%3.4%6.0%0.131.4%
International Seaways, Inc. INSW$4.9 billion4.6444.5%69.9%100.5%0.303.0%
Landstar System Inc. LSTR$4.8 billion30.3619.3%4.1%10.7%0.002.5%
Rxo, Inc. RXO$4.6 billionn/a-5.8%-0.8%10.1%0.33n/a
Brinks Co. BCO$4.5 billion28.9253.2%10.0%7.3%13.880.9%
Alaska Air Group, Inc. ALK$4.3 billionn/a-11.2%-1.9%8.2%1.74n/a
Tidewater Inc. TDW$3.5 billion14.1817.7%18.4%-1.0%0.47n/a
Skywest Inc. SKYW$3.0 billion7.6814.7%13.9%7.0%0.84n/a
Delek Logistics Partners, LP DKL$3.0 billion18.06n/a14.6%35.5%n/an/a
Arcbest Corp. ARCB$2.8 billion100.712.2%1.1%8.1%0.150.4%
Allegiant Travel Co. ALGT$2.5 billion28.203.1%5.5%27.8%1.660.0%
Lindblad Expeditions Holdings, Inc. LIND$2.2 billionn/an/a7.5%16.7%n/an/a
Dorian LPG Ltd. LPG$2.0 billion4.1434.0%72.3%87.1%0.347.2%
Frontier Group Holdings, Inc. ULCC$1.7 billionn/a-1,116.2%-9.5%24.0%13.14n/a
Werner Enterprises Inc. WERN$1.6 billionn/a-3.4%-0.9%9.6%0.582.1%
Genesis Energy LP GEL$1.6 billion67.63n/a18.3%-2.4%n/an/a
JetBlue Airways Corp. JBLU$1.4 billionn/a-74.8%-6.1%9.9%6.28n/a
Genco Shipping & Trading Ltd. GNK$1.1 billion14.618.9%19.2%54.7%0.416.9%
Bristow Group Inc. VTOL$1.1 billion13.957.3%9.5%10.1%0.68n/a
Marten Transport Ltd. MRTN$958 million65.171.7%1.9%-4.8%0.002.0%
Covenant Logistics Group, Inc. CVLG$802 million197.381.3%0.3%12.5%0.670.9%
Heartland Express Inc. HTLD$780 millionn/a-1.7%-1.0%-17.2%0.130.8%
Universal Logistics Holdings, Inc. ULH$715 millionn/an/an/an/a1.231.5%
GMR Solutions Inc. GMRS$671 millionn/an/an/an/a5.60n/a
Forward Air Corp. FWRD$562 millionn/an/a-6.7%-0.1%n/a0.0%
Strata Critical Medical, Inc. SRTA$496 millionn/a-9.0%-6.6%52.0%0.00n/a
Pangaea Logistics Solutions Ltd. PANL$496 million6.5815.3%12.2%27.8%0.480.7%
Radiant Logistics, Inc. RLGT$416 million22.747.8%2.6%3.5%0.10n/a
Ftai Infrastructure Inc. FIP$410 millionn/an/a-2.9%67.7%n/a3.5%
Virgin Galactic Holdings, Inc. SPCE$390 millionn/a-62.5%-24,804.5%-38.9%0.55n/a
Verra Mobility Corp. VRRM$332 million9.1014.3%12.7%6.5%3.90n/a
Pamt Corp. PAMT$295 millionn/a-23.0%-8.8%-2.1%1.66n/a
Seacor Marine Holdings Inc. SMHI$238 millionn/a-15.0%1.5%-15.0%1.28n/a
Wheels Up Experience Inc. UP$102 millionn/an/a-26.3%-7.6%n/an/a
Proficient Auto Logistics, Inc. PAL$85 millionn/an/an/an/a0.23n/a
T. Air Inc. AIRT$75 million1.1797.9%-6.6%25.4%3.78n/a
8 companies share its SEC industry code (Air Transportation, Scheduled); the rest are the names nearest in size in its wider industry, Transportation, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on DAL

Dividends$0.675 a share in FY2025
Filings20 in twelve months: 13 current reports (8-K), about 4 material agreement; 4 results of operations; 3 officer or director change; 2 regulation FD disclosure; 1 other events
Planned insider sales37 Form 144 notices in twelve months, $142.8 million; latest 6 November 2026
Options tapeput/call 0.24 by open interest at the 6 November 2026 close; the straddle prices a 5.2% move to 13 November 2026
13F holders1,527 funds reported a position for the quarter to 30 June 2026; largest Berkshire Hathaway Inc
Insider trading34 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest21.1 million shares short, 2.71 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20269 October 2026EDGAR
10-Q30 June 202610 July 2026EDGAR
10-Q31 March 20268 April 2026EDGAR
10-K31 December 202511 February 2026EDGAR
10-Q30 September 20259 October 2025EDGAR
10-Q30 June 202510 July 2025EDGAR
10-Q31 March 20259 April 2025EDGAR
10-K31 December 202411 February 2025EDGAR
10-Q30 September 202410 October 2024EDGAR
10-Q30 June 202411 July 2024EDGAR

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