Delta Air Lines, Inc.

Consumer Discretionary
Air Freight/Delivery Services
www.delta.com

Earnings Score
Moat Score
Safety Score

Market Cap $38.46B
PE 11
Debt $17.55B
Cash $3.42B
EV $52.59B
FCF $2.89B

Earnings

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Sales & Net Margins

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Earnings	$3.46B
EBIT	$6.00B
ROE	23%
ROA	8%
FCF	$2.89B
Equity	$15.29B
Growth Stability	-303%
PE	11.13
PEG	0.22
PB	2.51
P/FCF	13.33
P/S	0.62
Price/Cash	0.09
Debt/Equity	1.15
Debt/FCF	6.08
Net Margins	6%
Op. Margins	10%
Earnings CAGR	-6%
Sales Growth YoY	9%
Sales Growth QoQ	-1%
Sales CAGR	3%
FCF CAGR	-8%
Equity CAGR	-7%
Earnings Stability	0.06
Earnings Growth YoY	-59%
Earnings Growth QoQ	-34%
Earnings CAGR 5Y	50%

Sales CAGR 5Y	28%
FCF CAGR 5Y	50%
Equity CAGR 5Y	43%
Earnings CAGR 3Y	19%
Sales CAGR 3Y	19%
FCF CAGR 3Y	107%
Equity CAGR 3Y	77%
Market Cap	$38.46B
Revenue	$61.64B
Dividend Yield	1%
Payout Ratio	9%
Assets	$75.37B
Total Debt	$17.55B
Cash	$3.42B
Shares Outstanding	641M
EV	52.59B
Earnings Score	6%
Moat Score	88%
Safety Score	49%
Final Score	48%
Working Capital	-16.83B
Current Ratio	0.37
Shares Growth 3y	0%
Equity Growth QoQ	12%
Equity Growth YoY	38%

Assets & ROA

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Stockholders Equity & ROE

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Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries. Delta operates a hub-and-spoke system network, where it gathers and distributes passengers across the globe through key locations such as Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. Delta's sale of frequent flier miles, particularly to American Express, is a major driver of the firm's profits.

SEC Filings

Direct access to Delta Air Lines, Inc. (DAL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Delta Air Lines, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Delta Air Lines, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -6%

Stability 6%

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Delta Air Lines, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Delta Air Lines, Inc..

Years

Calculation mode

= $17B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.9B	$2.7B	$2.4B	$2.2B	$2.1B	$1.9B	$1.7B	$1.6B	$1.5B	$1.3B	$1.2B	$12B
DCF		$2.4B	$2B	$1.7B	$1.4B	$1.2B	$980M	$818M	$683M	$571M	$477M	$4.8B
Value	$17B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	11%	11%	9%	9%	10%	-72%	1%	3%	8%	6%	6%
ROA	-	14%	11%	9%	10%	-17%	3%	5%	8%	8%	8%
ROE	-	36%	26%	29%	31%	-807%	7%	20%	42%	23%	23%

Bad Net Margins (5.61%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	2.16	8.58	5.9	3.55	-5.26	1.59K	-7.96K	19	6.08	6.08
Debt over Equity	0.89	0.67	0.78	0.8	0.81	19.52	6.97	3.63	1.95	1.15	1.15
Growth Stability	-	-	-	95%	100%	-303%	-	-	-	100%	-303%

Bad Debt/FCF ratio (6.08)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.15)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-303%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-3%	4%	8%	6%	-64%	75%	69%	15%	6%	28%
Earnings YoY growth	-	-3%	-18%	10%	21%	-360%	-102%	371%	250%	-25%	50%
Equity YoY growth	-	13%	13%	-2%	12%	-90%	153%	69%	69%	38%	43%
FCF YoY growth	-	-23%	-67%	47%	89%	-263%	-100%	-118%	-38K%	153%	50%