Delta Air Lines, Inc. (DAL) P/E Ratio History
UndervaluedTrading at 11.0x vs 5Y avg 28.3x · 65th percentile · Below historical baseline · Data 2007–2025
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P/E Ratio Analysis
As of June 22, 2026, Delta Air Lines, Inc. (DAL) trades at a price-to-earnings ratio of 11.0x, with a stock price of $84.18 and trailing twelve-month earnings per share of $7.63.
The current P/E is 61% below its 5-year average of 28.3x. Over the past five years, DAL's P/E has ranged from a low of 5.3x to a high of 255.1x, placing the current valuation at the 65th percentile of its historical range.
Compared to the Industrials sector median P/E of 25.6x, DAL trades at a 57% discount to its sector peers. The sector includes 403 companies with P/E ratios ranging from 0.1x to 198.8x.
Relative to the broader market, DAL trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our DAL DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
DAL Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
DAL P/E vs Peers
Commercial passenger airlines peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $38B | 11.6 | - | +8% | |
| $11B | 94.1 | - | -86% | |
| $24B | 60.7 | - | +5% | |
| $6B | 56.6 | - | -72% | |
| $4B | 8.9Lowest | - | +33% | |
| $176B | 89.8 | - | +114%Best | |
| $374B | 43.8 | 3.71Best | +36% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
DAL Historical P/E Data (2007–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Dec 31 2025 | $69.40 | $7.66 | 9.1x | -67% |
| FY2025 Q3 | - | $56.75 | $7.09 | 8.0x | -71% |
| FY2025 Q2 | Jun 30 2025 | $49.18 | $6.89 | 7.1x | -74% |
| FY2025 Q1 | Mar 31 2025 | $43.60 | $5.64 | 7.7x | -72% |
| FY2024 Q4 | - | $60.50 | $5.33 | 11.4x | -59% |
| FY2024 Q3 | Sep 30 2024 | $50.79 | $7.20 | 7.1x | -75% |
| FY2024 Q2 | Jun 30 2024 | $47.44 | $6.95 | 6.8x | -75% |
| FY2024 Q1 | Mar 31 2024 | $47.87 | $7.79 | 6.1x | -78% |
| FY2023 Q4 | Dec 31 2023 | $40.23 | $7.16 | 5.6x | -80% |
| FY2023 Q3 | Sep 30 2023 | $37.00 | $5.29 | 7.0x | -75% |
| FY2023 Q2 | Jun 30 2023 | $47.54 | $4.65 | 10.2x | -63% |
| FY2023 Q1 | Mar 31 2023 | $34.92 | $2.95 | 11.8x | -57% |
| FY2022 Q4 | Dec 31 2022 | $32.86 | $2.04 | 16.1x | -42% |
| FY2022 Q3 | Sep 30 2022 | $28.06 | $0.11 | 255.1x | +820% |
| FY2022 Q2 | - | $28.97 | $0.92 | 31.5x | +14% |
| FY2022 Q1 | - | $39.57 | $0.79 | 50.1x | +81% |
| FY2021 Q4 | Dec 31 2021 | $39.08 | $0.42 | 93.0x | +235% |
| FY2020 Q1 | - | $28.53 | $5.39 | 5.3x | -81% |
| FY2019 Q4 | - | $58.48 | $7.32 | 8.0x | -71% |
| FY2019 Q3 | Sep 30 2019 | $57.60 | $7.10 | 8.1x | -71% |
| FY2019 Q2 | Jun 30 2019 | $56.75 | $6.70 | 8.5x | -69% |
| FY2019 Q1 | Mar 31 2019 | $51.65 | $5.96 | 8.7x | -69% |
| FY2018 Q4 | Dec 31 2018 | $49.90 | $5.64 | 8.8x | -68% |
| FY2018 Q3 | Sep 30 2018 | $57.83 | $4.57 | 12.7x | -54% |
| FY2018 Q2 | Jun 30 2018 | $49.54 | $4.30 | 11.5x | -58% |
| FY2018 Q1 | Mar 31 2018 | $54.81 | $4.50 | 12.2x | -56% |
| FY2017 Q4 | Dec 31 2017 | $56.00 | $4.55 | 12.3x | -56% |
| FY2017 Q3 | Sep 30 2017 | $48.22 | $4.97 | 9.7x | -65% |
| FY2017 Q2 | Jun 30 2017 | $53.74 | $5.02 | 10.7x | -61% |
| FY2017 Q1 | Mar 31 2017 | $45.96 | $5.38 | 8.5x | -69% |
| FY2016 Q4 | Dec 31 2016 | $49.19 | $5.77 | 8.5x | -69% |
| FY2016 Q3 | Sep 30 2016 | $39.36 | $6.18 | 6.4x | -77% |
| FY2016 Q2 | - | $36.43 | $6.14 | 5.9x | -79% |
| FY2016 Q1 | - | $48.68 | $5.94 | 8.2x | -70% |
| FY2015 Q4 | - | $50.69 | $5.63 | 9.0x | -68% |
| FY2015 Q3 | Sep 30 2015 | $44.87 | $3.52 | 12.7x | -54% |
| FY2015 Q2 | - | $41.08 | $2.29 | 17.9x | -35% |
| FY2015 Q1 | - | $44.96 | $1.40 | 32.1x | +16% |
| FY2014 Q4 | Dec 31 2014 | $49.19 | $0.75 | 65.6x | +136% |
| FY2014 Q3 | - | $36.15 | $11.49 | 3.1x | -89% |
| FY2014 Q2 | Jun 30 2014 | $38.72 | $12.66 | 3.1x | -89% |
| FY2014 Q1 | Mar 31 2014 | $34.65 | $12.52 | 2.8x | -90% |
| FY2013 Q4 | - | $27.47 | $12.28 | 2.2x | -92% |
| FY2013 Q3 | Sep 30 2013 | $23.59 | $2.41 | 9.8x | -65% |
| FY2013 Q2 | Jun 30 2013 | $18.71 | $2.05 | 9.1x | -67% |
| FY2013 Q1 | Mar 31 2013 | $16.51 | $1.05 | 15.8x | -43% |
| FY2012 Q4 | Dec 31 2012 | $11.87 | $1.19 | 10.0x | -64% |
| FY2012 Q3 | Sep 30 2012 | $9.16 | $1.68 | 5.5x | -80% |
| FY2012 Q2 | Jun 30 2012 | $10.95 | $1.10 | 10.0x | -64% |
| FY2012 Q1 | Mar 31 2012 | $9.91 | $1.53 | 6.5x | -77% |
| FY2011 Q4 | Dec 31 2011 | $8.09 | $1.00 | 8.1x | -71% |
| FY2011 Q3 | Sep 30 2011 | $7.50 | $0.52 | 14.3x | -48% |
| FY2011 Q2 | - | $9.17 | $0.30 | 30.3x | +9% |
| FY2011 Q1 | - | $9.80 | $0.62 | 15.7x | -43% |
| FY2010 Q4 | Dec 31 2010 | $12.60 | $0.69 | 18.2x | -34% |
| FY2010 Q3 | - | $11.64 | $0.64 | 18.2x | -34% |
| FY2010 Q2 | Jun 30 2010 | $11.75 | $0.02 | 587.5x | +2018% |
| FY2007 Q4 | Dec 31 2007 | $14.89 | $4.40 | 3.4x | -88% |
Average P/E for displayed period: 27.7x
Full Stock Analysis
Deep dive into DAL consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
19+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
DAL — Frequently Asked Questions
Quick answers to the most common questions about buying DAL stock.
What is DAL's P/E ratio?
Delta Air Lines, Inc. (DAL) trailing twelve-month P/E ratio is 11.0x, based on TTM diluted EPS of $7.63. The 5-year average P/E is 28.3x and the historical range spans 5.3x to 255.1x.
Is DAL stock overvalued or undervalued?
DAL trades at 11.0x P/E, below its 5-year average of 28.3x. At the 65th percentile of its historical range (5.3x–255.1x), the stock is priced at a discount to its own history.
Is DAL stock expensive?
No, DAL is not expensive on a historical basis. The current P/E of 11.0x is below the 5-year average of 28.3x and sits at the 65th percentile of its valuation range.
What is DAL's historical P/E range?
Over the past 5 years, DAL's P/E ratio has ranged from 5.3x to 255.1x, with a median of 8.1x and an average of 28.3x. The current P/E of 11.0x places the stock at the 65th percentile of this range. Full historical data spans 2007–2025.
How does DAL's P/E compare to the S&P 500?
DAL trades at 11.0x P/E versus the S&P 500 median of 24.4x. The 55% discount to the market suggests lower growth expectations or perceived higher risk.
How does DAL's valuation compare to Industrials peers?
Delta Air Lines, Inc. P/E of 11.0x compares to the Industrials sector median of 25.6x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is DAL's PEG ratio?
DAL PEG ratio is N/A, based on a P/E of 11.0x and EPS growth of 43.7%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is DAL's earnings yield?
DAL earnings yield is 9.10%, the inverse of its 11.0x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.