Delta Air Lines, Inc. (DAL) Stock Price & Analysis
Delta Air Lines, Inc. (DAL) closed at USD 79.26 on Thursday, October 22, 2026, up 2.05% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 77.67; the Oct 22, 2026 session ranged USD 75.38–79.57 on volume of 7,380,769 shares. Market capitalization is $52.15B, with a 52-week range of USD 55.03–95.68 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:17 UTC.
Also available as compact Markdown for AI agents: nexqual.com/DAL.md
Latest Earnings Results (DAL)
| Fiscal period | EPS (reported) | Revenue | Released | Source |
|---|---|---|---|---|
| Q3 2026 | $1.72 (adjusted (non-GAAP) diluted) | $17.60B | Oct 9, 2026, 6:30:00 AM ET · on Nexqual +16 seconds | PR Newswire |
Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.
Key facts (DAL)
- Last four reported quarters (through Sep 30, 2026): revenue $71.8B, net income $3.29B (4.6% margin) (SEC filings).
- Valuation: P/E 15.8x (avg 8.7x at the last 3 fiscal year-ends).
- 5 of 80 tracked superinvestors hold DAL (13F, Q2 2026): 0 new, 2 added, 3 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 12 Form 4 filings, $44.3M; 12 not under a Rule 10b5-1 plan ($44.3M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.92 on a 1–5 scale) (25 analysts), mean target USD 100.78 (range 53–125).
- Total return with dividends: 1Y +36.3% vs S&P 500 +14.9%; 5Y +107.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-09, EPS estimate USD 1.42, revenue estimate $19.5B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (DAL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $29.9B | $50.6B | $58.0B | $61.6B | $63.4B | $71.8B |
| Operating income | $1.89B | $3.66B | $5.52B | $6.00B | $5.82B | $5.29B |
| Net income | $280M | $1.32B | $4.61B | $3.46B | $5.00B | $3.29B |
| EPS (diluted) | $0.44 | $2.06 | $7.17 | $5.33 | $7.66 | — |
| Free cash flow | $17.0M | -$3.0M | $1.14B | $2.88B | $3.84B | — |
| Operating margin | 6.3% | 7.2% | 9.5% | 9.7% | 9.2% | 7.4% |
| Net margin | 0.9% | 2.6% | 7.9% | 5.6% | 7.9% | 4.6% |
| Revenue growth | +74.9% | +69.2% | +14.8% | +6.2% | +2.8% | — |
| Cash + short-term investments | $11.3B | $6.53B | $3.87B | $3.07B | — | — |
| Total debt | $25.1B | $21.4B | $18.6B | $15.3B | $13.3B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (DAL)
P/E 15.8x · P/S 0.7x · P/B 2.3x · Earnings yield 6.31% · Dividend yield (paid, TTM) 0.99%
P/E at fiscal year-ends: Dec 2025 9.1x, Dec 2024 11.3x, Dec 2023 5.6x.
Superinvestors (SEC 13F-HR, Q2 2026) (DAL)
5 of 80 tracked investors hold DAL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Nygren | Oakmark Funds | 2.16% | $1.62B | Reduced -3.7% |
| Warren Buffett | Berkshire Hathaway | 1.79% | $5.37B | Added +44.0% |
| Samantha McLemore | Patient Capital Management | 1.34% | $40.4M | Reduced -21.9% |
| Richard Pzena | Pzena Investment Management | 0.72% | $245M | Reduced -6.7% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $1.4M | Added +26.3% |
Insider sales (SEC Form 4, open-market, last ~7 months) (DAL)
0 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-05 | Huerta Michael P | Director | 3,100 | $292K | 8.7% | No | Too little history (no open-market trades in 2024) |
| 2026-08-05 | Sear Steven M | EVP - Global Sales & Distrib | 40,460 | $3.8M | 27.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-04 | Carter Peter W | President | 39,900 | $3.7M | 8.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-04 | Bellemare Alain | EVP & Pres. - International | 35,000 | $3.2M | 26.9% | No | Too little history (no open-market trades in 2023) |
| 2026-08-04 | Bastian Edward H | Chief Executive Officer | 206,510 | $19.2M | 13.2% | No | Too little history (no open-market trades in 2023) |
| 2026-08-03 | Dewalt David G | Director | 31,756 | $2.9M | 58.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26…2026-05-27 | Ausband Allison C | EVP & Chief People Officer | 10,000 | $800K | 7.2% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-27 | Bellemare Alain | EVP & Pres. - International | 25,000 | $2.0M | 20.8% | No | Too little history (no open-market trades in 2023) |
| 2026-05-21…2026-05-22 | Ausband Allison C | EVP & Chief People Officer | 14,710 | $1.1M | 9.6% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-07 | Bellemare Alain | EVP & Pres. - International | 20,621 | $1.5M | 14.7% | No | Too little history (no open-market trades in 2023) |
| 2026-04-14 | Laughter John E | EVP & Chief of Operations | 15,000 | $1.1M | 21.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-10 | Laughter John E | EVP & Chief of Operations | 69,304 | $4.7M | 50% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (DAL)
Consensus Buy (mean 1.92 on a 1–5 scale), 25 analysts; mean target USD 100.78 (low 53, high 125).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | UBS | Target lowered | Buy | $105 → $102 |
| 2026-10-12 | BMO Capital | Target raised | Outperform | $100 → $105 |
| 2026-10-12 | Susquehanna | Target lowered | Positive | $100 → $95 |
| 2026-10-07 | Bernstein | Target lowered | Outperform | $106 → $100 |
| 2026-10-07 | Susquehanna | Target lowered | Positive | $105 → $100 |
| 2026-10-06 | Wells Fargo | Target lowered | Overweight | $105 → $100 |
| 2026-10-02 | TD Cowen | Target lowered | Buy | $105 → $101 |
| 2026-09-28 | BMO Capital | Target lowered | Outperform | $105 → $100 |
| 2026-09-24 | UBS | Target raised | Buy | $99 → $105 |
| 2026-09-18 | Rothschild & Co | Target raised | Buy | $104 → $105 |
| 2026-09-11 | Barclays | Target lowered | Overweight | $105 → $95 |
| 2026-09-10 | UBS | Target lowered | Buy | $112 → $99 |
Total return (dividends reinvested) (DAL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +36.3% | +107.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +36.5% | +15.7% |
| Volatility (annualized) | 38.5% | 39.1% |
| Max drawdown | -22.9% (Feb 2026→Mar 2026) | -45.2% (Feb 2025→Mar 2025) |
DAL revenue by business segment (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Airline | $17.59B | 87.1% | +15.7% |
| Refinery | $2.97B | 14.7% | +65.3% |
| Total revenue | $20.19B | 100% | — |
DAL revenue by product line (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Passenger | $15.53B | 77.0% | +15.0% |
| — Air traffic liability (part of Passenger) | $13.62B | 67.5% | +14.8% |
| — Loyalty travel awards (part of Passenger) | $1.30B | 6.5% | +17.5% |
| — Travel-related services (part of Passenger) | $612.0M | 3.0% | +13.5% |
| Other | $4.35B | 21.6% | +48.3% |
| — Refinery (part of Other) | $2.60B | 12.9% | +76.2% |
| — Loyalty and related (part of Other) | $1.35B | 6.7% | +19.2% |
| — Cargo (part of Other) | $301.0M | 1.5% | +29.2% |
| — Miscellaneous (part of Other) | $108.0M | 0.5% | +10.2% |
| MRO | $296.0M | 1.5% | +28.1% |
| Total revenue | $20.19B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
DAL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Monroe Energy | “In addition, we have historically purchased a significant amount of aircraft fuel in addition to what we obtain from Monroe.” |
| Partner | LATAM AIRLINES GROUP S.A. (LTM) | “Internationally, we seek to bring more choice to customers through innovative alliances with Aeroméxico, Air France-KLM, China Eastern, LATAM Airlines Group S.A. ("LATAM"), Korean Air, Virgin Atlantic and WestJet.” |
| Partner | Airbus | “Other revolutionary fleet partners include Joby, with their home-to-airport air taxi offering, as well as Airbus and Boeing, both of which are exploring next generation technology.” |
| Partner | Boeing (BA) | “Other revolutionary fleet partners include Joby, with their home-to-airport air taxi offering, as well as Airbus and Boeing, both of which are exploring next generation technology.” |
| Partner | Virgin Atlantic | “Internationally, we seek to bring more choice to customers through innovative alliances with Aeroméxico, Air France-KLM, China Eastern, LATAM Airlines Group S.A. ("LATAM"), Korean Air, Virgin Atlantic and WestJet.” |
| Partner | JFK International Air Terminal | “We have a long-term agreement with IAT to sublease space in Terminal 4 through 2043 ("Sublease") which requires us to pay certain fixed management fees.” |
Quoted from the company's 10-K filed Feb 11, 2026.
Companies that name DAL in their SEC reports
| Relationship to DAL | Company | Filing | Sentence |
|---|---|---|---|
| partner | Grupo Aeromexico, S.A.B. de C.V. (AERO) | 20-F Apr 30, 2026 | “Peter serves as a member of the Boards of Virgin Atlantic Airways, Grupo Aeromexico, the SkyTeam Global Airline Alliance, The Delta Air Lines Foundation, the United Way of Greater Atlanta, the Minnesota Business Partnership and the Georgia Chamber of Commerce, which he chaired in 2020.” |
| partner | REPUBLIC AIRWAYS HOLDINGS INC. (RJET) | 10-K Mar 19, 2026 | “Republic Airways subsequently expanded its partnership reach to Delta Air Lines in 2002 and United Airlines in 2004 and have operated under the same mission of unparalleled service each year.” |
| partner | Wheels Up Experience Inc. (UP) | 10-K Mar 10, 2026 | “In addition, our first-of-its-kind partnership with Delta Air Lines, Inc. ("Delta") provides our members and customers with a seamless offering across both private and premium commercial travel.” |
| partner | LATAM AIRLINES GROUP S.A. (LTM) | 20-F Mar 5, 2026 | “LATAM group's global reach is further strengthened by key strategic partnerships, code-sharing agreements, commercial alliances and its joint venture agreement with Delta Air Lines, Inc. ("Delta").” |
| partner | Joby Aviation, Inc. (JOBY) | 10-K Feb 27, 2026 | “Our preparations for commercial passenger service also includes forming sector-leading relationships with partners such as Toyota, Uber, and Delta Air Lines, each of whom have invested in Joby.” |
| partner | SKYWEST INC (SKYW) | 10-K Feb 17, 2026 | “Our capacity purchase agreements with United, Delta, American and Alaska require the respective major airline partner to pay for fuel costs, either directly to the fuel vendor or to reimburse us for the fuel costs we incur under those agreements, thereby reducing our exposure to fuel price fluctuations.” |
DAL company outlook (results filed Oct 9, 2026)
- “The foundation of that resilience is our people, whose commitment to delivering for our customers continues to set Delta apart," said Ed Bastian, Delta's chief executive officer. "For the full year, we expect to generate a pre-tax profit of roughly $4.5 billion, absorbing a $6 billion increase in fuel costs.”
Quoted word-for-word from the SEC 8-K results press release.
DAL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $1.42 | $2.23 | -36.1% | $19.50B | 19 |
| Next quarter (ends Mar 2027) | $0.50 | $0.99 | -49.6% | $17.21B | 13 |
| Current fiscal year (ends Dec 2026) | $5.41 | $6.67 | -18.8% | $75.07B | 24 |
| Next fiscal year (ends Dec 2027) | $7.24 | $8.79 | -17.7% | $77.30B | 9 |
DAL options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 43.6% | ±5.2% |
| Nov 6, 2026 | 14 | 45.2% | ±7.3% |
| Nov 13, 2026 | 21 | 41.2% | ±8.1% |
| Nov 20, 2026 | 28 | 41.1% | ±9.3% |
| Nov 27, 2026 | 35 | 40.6% | ±10.2% |
| Dec 4, 2026 | 42 | 40.6% | ±11.1% |
| Dec 18, 2026 | 56 | 39.3% | ±12.5% |
| Jan 15, 2027 | 84 | 37.6% | ±14.6% |
30-day implied volatility 40.4% vs 29.8% realized over the last 30 trading days. Put/call ratio (volume) 0.41. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:17 UTC)
| Price | USD 79.26 |
|---|---|
| Change | ▲ 2.05% (up) |
| Previous Close | USD 77.67 |
| Open | USD 75.63 |
| Day Range | USD 75.38 – 79.57 |
| 52-Week Range | USD 55.03 – 95.68 |
| Volume | 7,380,769 shares |
| Market Cap | $52.15B |
| Exchange | NYQ |
Technical Analysis (DAL)
Nexqual's technical model rates DAL "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:17 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 48.42 (neutral) |
| vs SMA50 | Below (USD 81.25) |
| MACD | -1.4 (negative) |
Analyst Ratings (DAL)
Wall Street analysts rate DAL "Buy" based on 25 analysts, with a mean price target of USD 100.78 (range USD 53–125), per Nexqual as of October 23, 2026 at 09:17 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 25 |
| Mean Target | USD 100.78 |
| High Target | USD 125 |
| Low Target | USD 53 |
| Buy / Hold / Sell | 24 / 0 / 1 |
Earnings (DAL)
| Next Earnings Date | 2026-10-09 |
|---|---|
| EPS Estimate | USD 1.42 |
| Revenue Estimate | $19.50B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 1.72 vs est 1.76 ▼ miss |
| 2026-06-30 | USD 1.56 vs est 1.49 ▲ beat |
| 2026-03-31 | USD 0.64 vs est 0.57 ▲ beat |
| 2025-12-31 | USD 1.55 vs est 1.55 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Financials & Fundamentals (DAL)
| Total Revenue | $71.80B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +21.10% |
| Gross Margin | +17.90% |
| Operating Margin | +7.22% |
| Profit Margin | +4.58% |
| ROE | +15.91% |
| Debt / Equity | 0.89 |
| Current Ratio | 0.4 |
| Total Cash | $3.79B |
| Total Debt | $19.94B |
| Free Cash Flow (fiscal year ended Dec 2025, SEC 10-K) | $3.84B (6.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Financial Health Score (DAL)
Nexqual rates Delta Air Lines, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:17 UTC.
| Growth | Mixed — Revenue +2.8% YoY (annual), slow |
|---|---|
| Profitability | Mixed — Gross margin 18%, operating 7% (last 12 months) |
| Balance Sheet | Weak — $3.79B cash vs $19.9B debt |
| Cash Flow | Solid — FCF $3.84B (FY ended Dec 2025, 10-K), 6% margin |
| Efficiency | Solid — ROE 16%, ROA 4.0% |
Ownership (DAL)
| Insider Ownership | +9.17% |
|---|---|
| Institutional Ownership | +80.51% |
| Shares Outstanding | 657.91M |
| Float | 650.04M |
| Short % of Float | +3.91% |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Leadership (DAL)
Delta Air Lines, Inc. is led by Edward H. Bastian, CEO & Director, per Nexqual as of October 23, 2026 at 09:17 UTC.
| CEO & Director | Edward H. Bastian |
|---|---|
| President | Peter W. Carter |
| Executive VP & COO | Daniel Charles Janki |
| EVP, President of Intl., Chairman of Delta TechOps & Chairman of Advisory Board of Delta MRO | Alain M. Bellemare |
| Executive VP & CFO | Erik Storey Snell |
Major Backers & Investors (DAL)
Notable institutional backers of Delta Air Lines, Inc. include Berkshire Hathaway, FMR, LLC, Sanders Capital, LLC, according to Nexqual as of October 23, 2026 at 09:17 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Berkshire Hathaway | 8.71% |
| FMR, LLC | 5.04% |
| Sanders Capital, LLC | 4.43% |
| Capital International Investors | 3.14% |
| Primecap Management Company | 2.66% |
| WASHINGTON MUTUAL INVESTORS FUND | 1.96% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.28% |
| BlackRock | 6.86% |
| State Street | 3.67% |
| Geode Capital | 2.81% |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
From Delta Air Lines, Inc.'s Latest SEC 10-K Filing (filed 2026-02-11)
Key Strengths & Strategy (as disclosed to the SEC)
- In 2025, we served over 200 million customers safely, reliably and with industry-leading customer service innovation.
- Airline and topped five categories in the Forbes Travel Guide's Luxury Air Travel Awards. •Best Airline Staff Service in North America at the Skytrax World Airline Awards, based entirely on customer feedback. •The number one airline by corporate travel customers in the annual Business Travel News Airline Survey for the 15th year in a row and the number one U.S. airline by Condé Nast Traveler readers. •The Best U.S.
- In 2025, 12% of revenue miles flown on Delta were from award travel, as program members redeemed miles in the loyalty program for approximately 35 million award tickets.
- Our strategic relationships with international airlines are an important part of our business as they improve our access to markets around the world and enable us to provide customers a more seamless global travel experience across our alliance network.
Partnerships
- Our implemented commercial joint ventures/cooperation agreements consist of the following: •A combined joint venture agreement with Air France, KLM and Virgin Atlantic with respect to transatlantic traffic flows.
- We currently own an approximately 11% equity stake in LATAM. •A joint venture agreement with Korean Air with respect to traffic flows between the United States and certain countries in Asia.
Legal & Regulatory Risks (Item 1A, quoted)
- The operation of the refinery by Monroe is subject to significant environmental regulation. Failure to comply with environmental regulations or the enactment of additional regulation applicable to Monroe could have a material adverse effect on our consolidated financial results.
- The airline industry is subject to extensive regulatory and legal compliance requirements, which is costly and could materially adversely affect our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| UAL | United Airlines Holdings, Inc. | USD 102 | ▲ 0.32% |
| RYAAY | Ryanair Holdings plc | USD 53.67 | ▼ 0.79% |
| LUV | Southwest Airlines Company | USD 42.03 | ▲ 5.39% |
| AAL | American Airlines Group, Inc. | USD 12.6 | ▲ 2.94% |
| CPA | Copa Holdings, S.A. | USD 134.86 | ▼ 0.94% |
| ALK | Alaska Air Group, Inc. | USD 35.38 | ▲ 5.49% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:17 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt