Delta Air Lines vs United Airlines DAL vs UAL
Delta Air Lines and United Airlines Holdings on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
DALUAL
What differs most
- Debt / equity: United Airlines 1.9×, Delta Air Lines 0.8×.
- One-year price return: Delta Air Lines +29.9%, United Airlines +1.4%.
- Trailing P/E: Delta Air Lines 15.8×, United Airlines 9.2×.
- Market value: Delta Air Lines $52.08B, United Airlines $32.71B.
- United Airlines paid no dividend in the last twelve months.
Price return
2025-10-26 → 2026-10-26
DAL+29.9%
UAL+1.4%
Profile
latestSector
Industrials
Industrials
Industry
Airlines, Airports & Air Services
Airlines, Airports & Air Services
Market value
$52.08B
$32.71B
Enterprise value
$67.13B
$60.36B
Employees
100,000
117,500
Revenue per employee (TTM)
$718K
$558K
Our models
nightlythe valuation on each stock's pagePrice vs model
1% undervalued vs model
46% undervalued vs model
Model range
$47.13–182
$94.86–632
Models in the headline
1
1
FCF growth priced in, at a 10% return
7.4%
9.6%
Every model, its assumptions and its range: DAL valuation · UAL valuation. The growth priced in, at any return: DAL reverse DCF · UAL reverse DCF.
Trading
close 2026-10-26Last close
$79.16
$100.69
52-week high
$93.66
$136.11
52-week low
$55.65
$85.21
Price vs 52-week high
−15.5%
−26.0%
Price vs 52-week low
+42.2%
+18.2%
Average daily volume / shares
1.0%
1.3%
Beta
1.34
1.30
Returns
to 2026-10-261 month
−6.8%
−11.7%
3 months
−6.9%
−14.9%
6 months
+15.6%
+8.3%
Year to date
+14.1%
−10.0%
1 year
+29.9%
+1.4%
1 year, dividends added
+31.2%
+1.4%
2 years
+46.3%
+34.9%
Valuation
price × TTM to Sep 2026P/E (TTM)
15.8×
9.2×
P/E on consensus EPS (next FY)
14.6×
13.6×
Price / sales
0.7×
0.5×
EV / sales
0.9×
0.9×
EV / EBITDA
10.5×
7.3×
Price / book
2.3×
1.8×
Price / free cash flow (FY)
13.6×
12.8×
Free-cash-flow yield (FY)
7.4%
7.8%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+5.7%
+16.4%
Revenue, 3-year CAGR
7.8%
9.5%
Revenue, 5-year CAGR
30.0%
30.9%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
−29.2%
−27.8%
EPS, 3-year CAGR
54.9%
66.1%
Free cash flow, 3-year CAGR
—
27.0%
Diluted shares, 3-year change
+2.0%
−0.9%
Profitability
TTM to Sep 2026Gross margin (FY)†
22.8%
64.1%
Operating margin
7.4%
7.5%
EBITDA margin
8.9%
12.6%
Net margin
4.6%
5.5%
Free-cash-flow margin (FY)
6.1%
4.3%
Return on equity
14.6%
20.1%
Return on assets
3.8%
4.2%
Asset turnover
0.83
0.77
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
MRQ Sep 2026Cash
$3.79B
$6.65B
Total debt
$18.84B
$34.29B
Net debt
$15.05B
$27.65B
Debt / equity
0.8×
1.9×
Net debt / EBITDA (TTM)
2.4×
3.3×
Interest coverage (FY)
8.6×
3.9×
Current ratio (FY)
0.40
0.65
Dividends
trailing 12 monthsDividend yield
1.0%
0.0%
Dividends per share
$0.80
$0.00
Payout ratio (of TTM EPS)
16.1%
—
Dividend per share, 5-year CAGR
—
—
Frequency
Quarterly
—
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
8
4
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$33.1M
$2.3M
Analyst upgrades
0
0
Analyst downgrades
0
0
Statements
income TTM to Sep 2026 · cash flow FY2025Revenue
$71.80B
$65.55B
EBITDA
$6.38B
$8.28B
Operating income
$5.29B
$4.92B
Net income
$3.29B
$3.58B
EPS (diluted)
$5.01
$10.93
Operating cash flow
$8.34B
$8.43B
Capital expenditure
−$4.50B
−$5.87B
Free cash flow
$3.84B
$2.56B
Dividends paid
$440.0M
$0
Keep comparing
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.