Company Analysis

Delta Air Lines, Inc. (DAL)

NYSE: DAL · Air Transportation, Scheduled · Atlanta, GA · filing with the SEC since 1994
Grade5.6
◀ Past 5.5● Present 6.3▶ Future 4.9

The grade of Delta Air Lines, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.6/10
◀ Past5.530% of the headline
● Present6.340% of the headline
▶ Future4.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

5.5/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
6.5/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 65th percentile among 17 sector filers · read for itself

From the record

Delta Air Lines, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.3/10

What has it actually done, year after year?

+5.4% a year over 10 filed years; profitable in 9 of 10.

weight 45% of this tense · 53rd percentile among 14 sector filers · read for its customers

From the record

Delta Air Lines, Inc.'s 10 filed years say what it did: revenue went from $39 billion in fiscal 2016 to $63 billion in fiscal 2025, up 5.4% a year; it rose in 8 of 9 years; the deepest fall was 64% from fiscal 2019 to fiscal 2020; net income was positive in 9 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span5.4%bottom 39% of its family
  • the share of years revenue rosetop 36% of its family
  • the share of filed years with a profittop 18% of its family
  • the deepest fall from a revenue peak63.6%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
4.5/10

How has it treated the people who own it?

Share count grew 0.7% a year. 4% of cash flow returned. Insiders: 36 sales, 0 purchases.

weight 22% of this tense · 45th percentile among 13 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Delta Air Lines, Inc.'s diluted share count grew about 0.7% a year, and dividends and buybacks returned about 4% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 36 sales and 0 purchases of their own stock on the open market in the year to 2026-11-09 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 37% of its family
  • cash returned against operating cash flowtop 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.3/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.5/10

Is it financially healthy right now?

ROE 24%: 24¢ of profit per shareholder dollar. Leverage 74%: owes 74¢ per asset dollar.

weight 33% of this tense · 55th percentile among 15 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Delta Air Lines, Inc. earned about 24 cents of profit for every dollar of shareholders' money. Leverage: it owed about 74 cents per dollar of assets, and net share issuance: its share count grew 0.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 41% of its family
  • return on equitytop 25% of its family
  • the share count against the year beforebottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.0/10

How strong is its position in its industry?

top 30% of 14 in its family; net margin 7.9%.

weight 45% of this tense · 70th percentile among 14 sector filers · read for its customers

From the record

Delta Air Lines, Inc.'s standing among 14 graded names in its industry family: revenue of $63 billion in fiscal 2025 ranks in the top 4% by size; a net margin of 7.9% ranks in the top 32%; revenue growth of 7.8% a year over the last 3 filed years ranks in the bottom 46% (its annual reports).

What it rests on

  • revenue against the family$63.36Btop 4% of its family
  • net margin7.9%top 32% of its family
  • three-year revenue growth7.8%bottom 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
6.1/10

What are the people in charge doing?

top 39% of 10 in its family for leadership; chief executive since 2016.

weight 22% of this tense · 61st percentile among 10 sector filers · read for its shareholders

From the record

Delta Air Lines, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Bastian, Edward H (Chief Executive Officer, as filed), filing under that title since 2016-05-10, 10.5 years (top 25% of its family); the 26 officers and directors filing in the last fifteen months have been on the record a median of 5.4 years (bottom 39%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 26 people in charge now (top 32%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 26 peopletop 32% of its family
  • the median years the people in charge have filed5.4 yearsbottom 39% of its family
  • the chief executive's years on the record10.5 yearstop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
6.3/10

How much room does it have to grow?

top 37% of 14 in its family for room to expand.

weight 22% of this tense · 63rd percentile among 14 sector filers · read for itself

From the record

Delta Air Lines, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $4.3 billion against debt of $13 billion leaves -11.1% of its assets as net cash, top 34% of its family; cash from operations less capital spending is 6.1% of revenue (top 39%) (its annual report).

What it rests on

  • cash less debt against assets-11.1%top 34% of its family
  • cash from operations less capital spending against revenue6.1%top 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.0/10

What could actually drive growth from here?

bottom 40% of 14 in its family for growth drivers.

weight 45% of this tense · 40th percentile among 14 sector filers · read for its customers

From the record

Delta Air Lines, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 7.8% a year over the last three filed years against 5.4% over all 10, speeding up (top 32% of its family); the newest year grew 2.8% (bottom 32%); capital spending grew -10.9% a year (bottom 19%) (its annual reports). Delta Air Lines, Inc. reported 9 product lines in fiscal 2025: Passenger Air Traffic at $45 billion (71%), Product and Service Other Refinery at $5.1 billion (8%), Passenger Loyalty Travel Awards at $4.2 billion (7%), and 6 more; 9 of 9 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+2.4 points a yeartop 32% of its family
  • the newest year's revenue growth2.8%bottom 32% of its family
  • three-year growth of capital spending-10.9%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.1/10

Did its newest year beat what its own record pointed to?

top 49% of 14 in its family for expectations against reality.

weight 33% of this tense · 51st percentile among 14 sector filers · read for its shareholders

From the record

Delta Air Lines, Inc.'s newest year against its own record: revenue of $63 billion in fiscal 2025 came in 6.9% below the $68 billion its prior three years' pace pointed to (bottom 25% of its family); net income of $5.0 billion against a prior three-year average of $3.1 billion (top 32%); a net margin of 7.9% against 5.4% before (top 39%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-6.9%bottom 25% of its family
  • net income against the prior three years' average+60%top 32% of its family
  • net margin against its prior average+2.5 pointstop 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton DAL · research, not advice