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Delta Air Lines DAL

Delta Air Lines scores weak on business quality (4.4 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$82.17Oct 9, 2026
Business qualityWeak
Next earningsJan 11, 2027, after the close
Insiders, 90 daysSelling

Why it matters

  1. What Delta Air Lines does

    Delta Air Lines generates revenue by transporting passengers and cargo across a global network, relying heavily on ticket sales and premium seating. The carrier is pushing further into loyalty and high-margin services to drive future cash flows.

  2. What it does best

    Delta dominates through its premium cabin and loyalty offerings, posting an operating margin of 8.1% that outpaces peers like UAL at 6.8% and AAL at 1.8%. This loyalty lock-in makes its revenue stream stickier than traditional carriers.

  3. The main risk

    Fuel price volatility and macroeconomic shocks directly threaten its thin margins, exposing its $68.3B revenue base to sudden cost spikes that can instantly crush cash flow.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityWeak

Operating margin stands at 8.1% with an FCF margin of 5.0%, reflecting stable profitability that scales modestly with revenue growth but remains vulnerable to cost inflation.

MoatWeak

Its moat stems from an entrenched loyalty ecosystem and hub dominance locking in frequent flyers, ranking in the 79th percentile for gross margin at 47.8% against rivals like ALK at 51.0%.

GrowthSlow

Revenue grew 2.8% to $68.3B, sitting in the middle of the pack at the 39th percentile for sector growth while gradually decelerating from historical post-pandemic bounces.

Financial healthFair

Net debt sits at $9.8B against $4.3B in cash, while free cash flow reached $3.4B, showing a steady balance sheet getting stronger as debt declines from prior years.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

6 sold $33.1M outside pre-planned sales.

Our sealed record on DAL

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is DAL a good business?

Delta Air Lines scores weak on the Cluenex quality check (4.4 of 10), measured against its own industry. Profitability is weak, moat weak, growth slow and financial health fair.

Are insiders buying DAL?

In the last 90 days of SEC Form 4 filings: 6 sold $33.1M outside pre-planned sales.

When does DAL report earnings?

Jan 11, 2027, after the close.

For members

See DAL today

  • Today's verdict on DAL, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Delta Air Lines (DAL)”, https://cluenex.com/stocks/dal/, data as of Oct 10, 2026.