Question 1

What is Delta Air Lines's P/E ratio?

Accepted Answer

Delta Air Lines (DAL) P/E ratio is 13.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Delta Air Lines?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Delta Air Lines specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

Is Delta Air Lines's P/E ratio high or low?

Accepted Answer

Delta Air Lines's P/E ratio of 13.9× is below its own 5-year average of 27.7× and below the sector median of 27.8×. That places the current reading at the 71th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Delta Air Lines's historical P/E ratio range?

Accepted Answer

In the available daily series, Delta Air Lines (DAL) P/E ratio has ranged from a low of 2.2× in 2013 to a high of 392.0× in 2010. The 5-year average is 27.7× and the 5-year median is 9.7×.

Question 7

What was Delta Air Lines's P/E ratio in 2025?

Accepted Answer

Delta Air Lines (DAL) P/E ratio at the end of 2025 was 9.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Delta Air Lines's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$45B	$5.01B	9.0×	-2.4×	Dec 31, 2025
2024	$39.4B	$3.46B	11.4×	+5.8×	Dec 31, 2024
2023	$25.7B	$4.61B	5.6×	-10.3×	Dec 31, 2023
2022	$21B	$1.32B	15.9×	-73.2×	Dec 31, 2022
2021	$24.9B	$279M	89.1×	—	Dec 31, 2021
2020	$25.5B	-$12.4B	—	—	Dec 31, 2020
2019	$37.5B	$4.77B	7.9×	-0.7×	Dec 31, 2019
2018	$33.9B	$3.97B	8.6×	-2.8×	Dec 31, 2018
2017	$39.6B	$3.48B	11.4×	+3.2×	Dec 31, 2017
2016	$36B	$4.37B	8.2×	-0.5×	Dec 31, 2016
2015	$39.4B	$4.53B	8.7×	-52.9×	Dec 31, 2015
2014	$40.6B	$659M	61.6×	+59.4×	Dec 31, 2014
2013	$23.2B	$10.5B	2.2×	-7.7×	Dec 31, 2013
2012	$10B	$1.01B	10.0×	+2.0×	Dec 31, 2012
2011	$6.8B	$854M	8.0×	-9.8×	Dec 31, 2011
2010	$10.5B	$593M	17.7×	—	Dec 31, 2010
2009	$9.45B	-$1.24B	—	—	Dec 31, 2009
2008	$9.48B	-$8.92B	—	—	Dec 31, 2008
2007	$5.69B	$1.61B	3.5×	—	Dec 31, 2007
2006	$4.49B	-$6.2B	—	—	Dec 31, 2006
2005	$4.32B	-$3.82B	—	—	Dec 31, 2005
2004	$3.21B	-$5.2B	—	—	Dec 31, 2004
2003	$2.82B	-$773M	—	—	Dec 31, 2003
2002	$2.81B	-$1.27B	—	—	Dec 31, 2002


General Dynamics (GD)	21.9×
Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
FedEx (FDX)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

P/E Ratio for Delta Air Lines (DAL) 2007-2026

P/E Ratio daily chart for Delta Air Lines (DAL)

Historical P/E Ratio for Delta Air Lines (DAL) from 2002 to 2025

About P/E Ratio at Delta Air Lines (DAL)

Delta Air Lines P/E Ratio by Year

Delta Air Lines P/E Ratio 2025: 9.0×

Delta Air Lines P/E Ratio 2024: 11.4×

Delta Air Lines P/E Ratio 2023: 5.6×

Delta Air Lines P/E Ratio 2022: 15.9×

Delta Air Lines P/E Ratio 2021: 89.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Delta Air Lines (DAL) Key Financials