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Delta Air Lines DAL Debt-to-equity

Debt-to-equity at other companies

Southwest Airlines logo
Southwest AirlinesLUV
+0.3×
United Airlines Holdings logo
United Airlines HoldingsUAL
-0.4×
Alaska Air Group logo
Alaska Air GroupALK
1.7×+0.1×
SkyWest logo
SkyWestSKYW
0.9×-0.1×
JetBlue Airways logo
JetBlue AirwaysJBLU
6.2×+2.2×
ALG
Allegiant TravelALGT
0.5×-0.2×

Other financials

Income statement

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Revenue$19.8B+18.7%
Operating income$1.9B-11.3%
Net income$1.6B-24.7%
EPS (diluted)$2.44-25.4%

Balance sheet

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Cash & equivalents$4.8B+35.3%
Total debt$18.9B-8.1%
Total equity$21.8B+25.1%
Total assets$86.3B+10.1%

Cash flow

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Operating cash flow$1.6B-14.1%

Valuation

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Market cap$57.5B+67.7%
Enterprise value$71.67B+25.8%
P/E14.6×+6.9×
P/S0.8×+0.3×

Profitability

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Operating margin8.1%-1.3pp
Net margin5.8%-1.5pp

Returns & leverage

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Return on equity20.1%-9.9pp
Current ratio0.4×0.0×

Where this comes from

Calculated from Delta Air Lines’s reported figures.

Based on the most recent quarter.

The source filing: Delta Air Lines’s 10-Q, filed April 8, 2026. Open the filing →

Filed
Apr 8, 2026, 4:21 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000027904-26-000022

FAQ

What is Delta Air Lines's debt-to-equity?
Delta Air Lines (DAL) reported debt-to-equity of 1× in Q1 2026.
How has Delta Air Lines's debt-to-equity changed year-over-year?
Delta Air Lines's debt-to-equity decreased by 31.8% year-over-year, from 1.4× to 1×.
What is the long-term trend for Delta Air Lines's debt-to-equity?
Over 5 years (2020 to 2025), Delta Air Lines's debt-to-equity has grown at a -47.4% compound annual growth rate (CAGR), from 24.1× to 1×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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