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Delta Air Lines, Inc.

DAL Industrials Airlines

Delta Air Lines, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $63.4 billion, up 2.79% from fiscal 2024.

Revenue
+21.1%
EPS
−47.3%
Free cash flow
−56.4%
Total debt
−13.6%

Quarter to September 2026, against a year earlier

85.67 3.57 −4.00%
Market cap
$56.2B
P/E
17.0×
Fwd P/E
16.2×
Dividend yield
0.94%
F-score
6/9
Altman Z
1.45
Beneish M
−2.73
Dividend safety
78/100
Overview Business Profile Earnings & Analysis
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Delta Air Lines, Inc. (DAL) Debt to equity

Alert me on Debt to equity

Delta Air Lines, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.6×, down 0.1× from fiscal 2025 (0.7×). Over the past ten years it has ranged from 0.6× (fiscal 2016) to 19.4× (fiscal 2020); the current reading is higher than 18% of that period. That is below the Airlines industry median of 0.8× and above the Industrials sector median of 0.3×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.7× (36.09%)
FY2024 1.1× (41.36%)
FY2023 1.8× (48.39%)
FY2022 3.5× (49.48%)
FY2021 6.9× (64.39%)
FY2020 19.4× 2,576.37%
FY2019 0.7× 1.79%
FY2018 0.7× 1.26%
FY2017 0.7× 18.15%
FY2016 0.6× (22.26%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.6× (10.76%)
Jun 2026 0.6× (7.98%)
Mar 2026 0.7× 2.72%
Dec 2025 0.7× (14.40%)
43 more quarters

Against its own ten years

Low 0.6× High 19.4×
Ten-year median 0.8×
Current reading's percentile 18

Debt to equity against peers

Company Debt to equity
AAL American Airlines Group Inc. compare −7.0×
LTM LATAM Airlines Group S.A. compare 0.0×
RYAAY Ryanair Holdings PLC compare 0.0×
DAL Delta Air Lines, Inc. 0.6×
CPA Copa Holdings, S.A. compare 0.8×
LUV Southwest Airlines Co. compare 0.8×
SKYW SkyWest, Inc. compare 0.8×
UAL United Airlines Holdings Inc compare 1.5×
ALK Alaska Air Group, Inc. compare 1.7×
Airlines industry median 0.8×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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