Where do Delta Air Lines's ratios come from?

Every ratio is computed from Delta Air Lines's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Delta Air Lines DAL Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	37%-1.9pp	37.8%-2.4pp	38.3%-1.6pp	38%-2.6pp	38.9%-0.6pp
Net margin	29.4%+2.7pp	28.4%-0.9pp	26.1%-5.5pp	26.5%-3.4pp	26.7%-1.0pp
EBITDA margin	52.6%-2.6pp	53.6%-2.8pp	54.3%-1.8pp	54.2%-2.5pp	55.1%-0.4pp
Returns
Return on equity	111.3%-26.9pp	113.8%-54.4pp	112.3%-81.8pp	124.5%-78.2pp	138.2%-70.9pp
Return on assets	23.7%+2.0pp	23%-0.7pp	21.3%-4.1pp	21.5%-2.2pp	21.7%0.0pp
Return on invested capital	54.8%-1.6pp	55.1%-3.9pp	54.6%-4.7pp	54.7%-5.5pp	56.3%-2.3pp
Efficiency
Asset turnover	3.2×0.0×	3.2×0.0×	3.3×0.0×	3.3×+0.1×	3.3×+0.1×
Liquidity
Current ratio	1.6×+0.1×	1.6×0.0×	1.5×-0.1×	1.5×-0.1×	1.5×-0.2×
Quick ratio	1.6×+0.1×	1.6×0.0×	1.5×-0.1×	1.5×-0.1×	1.5×-0.2×
Cash ratio	0.6×0.0×	0.6×0.0×	0.5×-0.1×	0.5×0.0×	0.6×+0.1×
Leverage
Debt-to-equity	4.2×-2.3×	4.6×-2.7×	5.1×-3.2×	5.8×-3.6×	6.5×-4.2×
Debt-to-assets	1×-0.2×	1×-0.2×	1.1×-0.2×	1.2×-0.2×	1.2×-0.2×
Net debt / EBITDA	7.6×-1.3×	8×-1.2×	8.3×-1.6×	8.8×-1.6×	8.9×-2.4×
Valuation
Market capitalization	$158.15B+21.5%	$142.89B+7.8%	$136.62B+14.6%	$132.12B+19.7%	$130.12B+17.9%
Enterprise value	$221.44B+7.9%	$209.64B-0.5%	$206.94B+2.5%	$205.12B+4.5%	$205.15B+2.3%
Price / earnings	34×+1.2×	32×+0.8×	34.2×+8.7×	33.2×+7.8×	32.8×+3.9×
Price / sales	2.5×+0.4×	2.3×+0.1×	2.2×+0.2×	2.2×+0.3×	2.1×+0.2×
Price / book	8.1×-1.1×	7.8×-2.3×	8.2×-1.7×	8.6×-1.5×	9.2×-2.2×
EV / EBITDA	26.6×+2.2×	25×+0.2×	24.5×+0.2×	24.7×+1.0×	24.4×-0.8×
EV / sales	3.5×+0.1×	3.3×-0.1×	3.3×-0.1×	3.3×0.0×	3.4×-0.1×
Earnings yield	47.7%-3.2pp	50.4%-3.9pp	48.2%-15.1pp	50%-13.4pp	50.9%-7.6pp
Dividend yield	4.4%+0.6pp	4.6%+1.4pp	4.4%+1.6pp	4.2%+1.9pp	3.8%—

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Where do Delta Air Lines's ratios come from?: Every ratio is computed from Delta Air Lines's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.