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Delta Air Lines DAL Net debt / EBITDA

Net debt / EBITDA at other companies

Southwest Airlines logo
Southwest AirlinesLUV
1.2×+1.1×
United Airlines Holdings logo
United Airlines HoldingsUAL
2.8×+0.1×
General Dynamics logo
General DynamicsGD
-0.8×
FTAI Aviation Ltd. logo
FTAI Aviation Ltd.FTAI
2.7×-3.6×
American Express logo
American ExpressAXP
0.3×+0.3×
Valero Energy logo
Valero EnergyVLO
-4.1×

Other financials

Income statement

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Revenue$15.9B+12.9%
Operating income$501.0M-12.0%
Net income-$289.0M-220%
EPS (diluted)-$0.44-219%

Balance sheet

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Cash & equivalents$5.2B+32.8%
Total debt$19.4B-10.0%
Total equity$20.4B+31.9%
Total assets$84.4B+9.2%

Cash flow

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Operating cash flow$2.4B+2.3%

Valuation

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Market cap$54.04B+54.2%
Enterprise value$68.17B+25.8%
P/E12.1×+2.5×
P/S0.8×+0.3×

Profitability

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Operating margin8.8%-0.8pp
Net margin6.9%+1.0pp

Returns & leverage

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Return on equity25%-2.5pp
Debt / equity-0.4×
Current ratio0.4×0.0×

Where this comes from

Calculated from Delta Air Lines’s reported figures.

Based on the most recent quarter.

The official record: Delta Air Lines’s 10-Q, filed April 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Delta Air Lines's net debt / EBITDA?
Delta Air Lines (DAL) reported net debt / EBITDA of 1.7× in Q1 2026.
How has Delta Air Lines's net debt / EBITDA changed year-over-year?
Delta Air Lines's net debt / EBITDA decreased by 17.5% year-over-year, from 2.1× to 1.7×.
What is the long-term trend for Delta Air Lines's net debt / EBITDA?
Over 3 years (2022 to 2025), Delta Air Lines's net debt / EBITDA has grown at a -24.8% compound annual growth rate (CAGR), from 18.8× to 8×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.