This is the standing evidence sheet for Delta Air Lines (DAL): the yardsticks BullScope computes from official SEC filings and market prices. It refreshes whenever a new edition of our research is published, and it is impersonal by design, every reader sees the same page. Nothing here is investment advice; it is the evidence, organized.
The price tag: what buyers pay per dollar of profit
Today the market pays about $11.0 for each $1 of Delta Air Lines’s annual profit (a price-to-earnings ratio of 11.0). Across its own past decade the typical price tag was 12.1, which puts today at roughly the 40th percentile of the company’s own history.
The tape: what the stock itself has done
- Last price: $82.17 (end-of-day market data as of the edition date · methodology) · 12% below its 52-week high
- Past 6 months: +21.2% · past 12 months: +43.9%
- Day-to-day temperament: jumpy (annualized volatility 39%)
The filed record: straight from the annual reports
| Fiscal year | Revenue | Growth | Operating margin | EPS |
|---|---|---|---|---|
| FY2021 | $29.9B | +74.9% | 6.3% | $0.44 |
| FY2022 | $50.6B | +69.2% | 7.2% | $2.06 |
| FY2023 | $58.0B | +14.8% | 9.5% | $7.17 |
| FY2024 | $61.6B | +6.2% | 9.7% | $5.33 |
| FY2025 | $63.4B | +2.8% | 9.2% | $7.66 |
The road ahead: filed results vs published expectations
| FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | |
|---|---|---|---|---|---|
| Net sales ($B) | 58.0 | 61.6 | 63.4 | 67.5 to 70.5 | 71.0 to 77.0 |
| Net sales growth (%) | +9.4 | +6.2 | +2.9 | 6 to 11 | 5 to 11 |
| Operating margin (%) | 9.5 | 9.7 | 9.2 | 8.5 to 9.8 | 8.8 to 10.5 |
| Diluted EPS ($) | 7.17 | 5.33 | 7.66 | 6.00 to 8.50 | 5.50 to 10.00 |
Columns marked A are actual filed results; E columns are the published consensus ranges the current price is being weighed against.
The four gauges: from the latest edition
BullScope coverage of Delta Air Lines
- Delta’s September quarter revenue surges 16 percent on yield growth as fuel costs eat into margins
- Delta’s June quarter: record revenue, a below-median earnings multiple, and an unresolved question about durability, a framework for weighing the gap
Read the full report on Delta Air Lines in the BullScope Terminal → It opens with this company loaded.
Edition date: 2026-10-12. This page updates when a new edition is published. Sources: SEC EDGAR filings, Nasdaq prices; computed by BullScope’s published methodology.
