DAL
Delta Air Lines, Inc. Industrials Air Transportation, Scheduled S&P 500Russell 3000
$80.15Close
$52.9BMarket cap
$55.22 – $93.4352-week range
Jan 8, 2027Next report · estimated
Highlights
Cautions
- Trend not confirmed 6 of 8 conditions · under the 50-day, RS under 70
- Earnings shrinking EPS −47% year on year
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
14%
1wk
up 4.4%
price change
1mo
down 3.7%
price change
12-month return
up 41%
market up 11% ·
its own up 27%
F-score
—
— Not assessed
Altman Z″
0.03
Elevated risk
P/E
10.6×
price / earnings
PEG
0.24
P/E / EPS growth
P/B
2.5×
price / book
Earnings yield
up 9.6%
EBIT / enterprise value
Cheaper than
77%
of the market · cheap
Revenue growth
up 3%
year on year
EPS growth
down 47%
latest quarter · -22 pts
Sales growth
up 21%
latest quarter · +2 pts
ROE
up 28%
return on equity
Free cash margin
up 6%
$3.8B FCF
D/E
0.57
long-term debt / equity
Net debt / EBITDA
0.9×
Interest cover
—EBIT / interest
Piotroski tests
Repair signals
- Long-term debt down 12% ($13.5B → $11.9B)
Trade setup
ATR%
3.5%
$2.84 a day · 2×ATR $74.46
RS
63 / 99
vs the universe
Trend
6 / 8
under the 50-day, RS under 70
Relative volume
0.6×
vs 50-day average
Up/down volume
1.13
50 sessions
Implied move
—
no scheduled report
Trend template · 6 of 8
- Price above the 50-day average: fails
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
Last reported
Oct 9, 2026
Results reaction
Oct 9, 2026-3% vs market2 sessions after results
Options
$5.4M42.0% IV · activity
Financials
- Net 8%
- Free cash 6%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $17.1B | $29.9B | $50.6B | $58.0B | $61.6B | $63.4B |
| Operating income | -$12.5B | $1.9B | $3.7B | $5.5B | $6.0B | $5.8B |
| Net income | -$12.4B | $280.0M | $1.3B | $4.6B | $3.5B | $5.0B |
| Net margin | -72% | 1% | 3% | 8% | 6% | 8% |
| Earnings per share | -$19.47 | $0.44 | $2.06 | $7.17 | $5.33 | $7.65 |
| Free cash flow | -$5.7B | $17.0M | -$3.0M | $1.1B | $2.9B | $3.8B |
| Free cash margin | -33% | 0% | -0% | 2% | 5% | 6% |
| Cash | $8.3B | $7.9B | $3.3B | $2.7B | $3.1B | $4.3B |
| Long-term debt | $26.5B | $23.6B | $19.3B | $16.0B | $13.5B | $11.9B |
| Shareholders' equity | $1.5B | $3.9B | $6.6B | $11.1B | $15.3B | $20.9B |
| Shares outstanding | 647.35m | 649.72m | 651.80m | 654.67m | 654.57m | 659.67m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $72 – $88 ±9.9% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 42.0% priced · 34.5% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- About the same
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: no change
Positioning
- Premium traded
- $5.4M calls $4.2M · puts $1.2M · latest session
- 0.28× -0.15 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +105k · puts -5.65k past week
For options traders: ATM IV 42.0% (+1.8% 1w) · 1m ÷ 3m IV 1.01 · 25Δ skew 5.4 pts · Net GEX $53.1M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 9, 2026 | Quarterly ↗ | Sep 30, 2026 | 9d |
| Jul 10, 2026 | Quarterly ↗ | Jun 30, 2026 | 10d |
| Apr 8, 2026 | Quarterly ↗ | Mar 31, 2026 | 8d |
| Feb 11, 2026 | Annual ↗ | Dec 31, 2025 | 42d |
| Oct 9, 2025 | Quarterly ↗ | Sep 30, 2025 | 9d |
| Jul 10, 2025 | Quarterly ↗ | Jun 30, 2025 | 10d |
| Apr 9, 2025 | Quarterly ↗ | Mar 31, 2025 | 9d |
| Feb 11, 2025 | Annual ↗ | Dec 31, 2024 | 42d |
| Oct 10, 2024 | Quarterly ↗ | Sep 30, 2024 | 10d |
| Jul 11, 2024 | Quarterly ↗ | Jun 30, 2024 | 11d |
| Apr 10, 2024 | Quarterly ↗ | Mar 31, 2024 | 10d |
| Feb 12, 2024 | Annual ↗ | Dec 31, 2023 | 43d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 9, 2026 | Results ↗ |
| Jul 10, 2026 | Results ↗ |
| Jun 22, 2026 | Shareholder vote ↗ |
| Jun 12, 2026 | Material agreement · New obligation ↗ |
| Apr 8, 2026 | Results ↗ |
| Mar 17, 2026 | Regulation FD ↗ |
| Mar 5, 2026 | Director or officer change ↗ |
| Feb 13, 2026 | Director or officer change ↗ |
| Jan 27, 2026 | Material agreement ↗ |
| Jan 13, 2026 | Material agreement · Results ↗ |
| Dec 17, 2025 | Director or officer change ↗ |
| Dec 3, 2025 | Regulation FD ↗ |