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Delta Air Lines DAL Return on invested capital

Return on invested capital at other companies

Southwest Airlines logo
Southwest AirlinesLUV
8%+4.3pp
United Airlines Holdings logo
United Airlines HoldingsUAL
10.7%-1.8pp
General Dynamics logo
General DynamicsGD
14%+0.9pp
FTAI Aviation Ltd. logo
FTAI Aviation Ltd.FTAI
21.1%+13.2pp
American Express logo
American ExpressAXP
49.1%-10.0pp
Valero Energy logo
Valero EnergyVLO
14.6%+11.2pp

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 trailing twelve months.

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 return on invested capital?
Delta Air Lines (DAL) reported return on invested capital of 13.5% in Q1 2026.
How has Delta Air Lines's return on invested capital changed year-over-year?
Delta Air Lines's return on invested capital decreased by 2.3% year-over-year, from 13.8% to 13.5%.
What is the long-term trend for Delta Air Lines's return on invested capital?
Over 4 years (2021 to 2025), Delta Air Lines's return on invested capital has grown at a -5.3% compound annual growth rate (CAGR), from -68.4% to 55.1%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.