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Delta Air Lines

SWX:DAL
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DAL
SWX
$18B
Market Cap
  1. Home
  2. CH
  3. Transportation
Company description

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The last earnings update was 48 days ago. More info.


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DAL Share Price and Events
7 Day Returns
0%
SWX:DAL
-2.9%
Europe Airlines
5.2%
CH Market
1 Year Returns
6.3%
SWX:DAL
-43.7%
Europe Airlines
-4.7%
CH Market
DAL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Delta Air Lines (DAL) 0% 0% 0% 6.3% 30.7% 45.9%
Europe Airlines -2.9% -37.1% -51.4% -43.7% -45.7% -44.3%
CH Market 5.2% -6.3% -12.7% -4.7% 4% -0.9%
1 Year Return vs Industry and Market
  • DAL outperformed the Airlines industry which returned -43.7% over the past year.
  • DAL outperformed the Market in Switzerland which returned -4.7% over the past year.
Price Volatility
DAL
Industry
5yr Volatility vs Market

Value

 Is Delta Air Lines undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Delta Air Lines to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Delta Air Lines.

SWX:DAL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year CH Government Bond Rate -0.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:DAL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate -0.6%
Equity Risk Premium S&P Global 5.4%
Airlines Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 21%) (98.94%))
1.346
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.35
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (1.346 * 5.44%)
6.77%

Discounted Cash Flow Calculation for SWX:DAL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Delta Air Lines is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SWX:DAL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.77%)
2020 354.67 Analyst x6 332.18
2021 3,099.17 Analyst x6 2,718.58
2022 3,015.00 Analyst x2 2,477.04
2023 2,956.54 Est @ -1.94% 2,274.97
2024 2,911.53 Est @ -1.52% 2,098.27
2025 2,875.70 Est @ -1.23% 1,941.03
2026 2,846.18 Est @ -1.03% 1,799.29
2027 2,821.03 Est @ -0.88% 1,670.30
2028 2,798.93 Est @ -0.78% 1,552.12
2029 2,778.96 Est @ -0.71% 1,443.33
Present value of next 10 years cash flows $18,307.00
SWX:DAL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $2,778.96 × (1 + -0.55%) ÷ (6.77% – -0.55%)
$37,752.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $37,752.01 ÷ (1 + 6.77%)10
$19,607.53
SWX:DAL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $18,307.00 + $19,607.53
$37,914.53
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $37,914.53 / 637.50
$59.47
SWX:DAL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in SWX:DAL represents 2.09428x of NYSE:DAL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
2.09428x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (USD) x Listing Adjustment Factor
= $ 59.47 x 2.09428
CHF124.55
Value per share (CHF) From above. CHF124.55
Current discount Discount to share price of CHF59.75
= -1 x (CHF59.75 - CHF124.55) / CHF124.55
52%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Delta Air Lines is available for.
Intrinsic value
>50%
Share price is CHF59.75 vs Future cash flow value of CHF124.55
Current Discount Checks
For Delta Air Lines to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Delta Air Lines's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Delta Air Lines's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Delta Air Lines's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Delta Air Lines's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:DAL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $7.32
NYSE:DAL Share Price ** NYSE (2020-03-31) in USD $28.53
Europe Airlines Industry PE Ratio Median Figure of 14 Publicly-Listed Airlines Companies 5.91x
Switzerland Market PE Ratio Median Figure of 175 Publicly-Listed Companies 16.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Delta Air Lines.

SWX:DAL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DAL Share Price ÷ EPS (both in USD)

= 28.53 ÷ 7.32

3.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Delta Air Lines is good value based on earnings compared to the Europe Airlines industry average.
  • Delta Air Lines is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Delta Air Lines's expected growth come at a high price?
Raw Data
SWX:DAL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
15.8%per year
Europe Airlines Industry PEG Ratio Median Figure of 12 Publicly-Listed Airlines Companies 0.26x
Switzerland Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 1.82x

*Line of best fit is calculated by linear regression .

SWX:DAL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.9x ÷ 15.8%

0.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Delta Air Lines is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Delta Air Lines's assets?
Raw Data
SWX:DAL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $23.99
NYSE:DAL Share Price * NYSE (2020-03-31) in USD $28.53
Europe Airlines Industry PB Ratio Median Figure of 19 Publicly-Listed Airlines Companies 0.76x
Switzerland Market PB Ratio Median Figure of 216 Publicly-Listed Companies 1.36x
SWX:DAL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DAL Share Price ÷ Book Value per Share (both in USD)

= 28.53 ÷ 23.99

1.19x

* Primary Listing of Delta Air Lines.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Delta Air Lines is overvalued based on assets compared to the Europe Airlines industry average.
X
Value checks
We assess Delta Air Lines's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Airlines industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Airlines industry average (and greater than 0)? (1 check)
  5. Delta Air Lines has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Delta Air Lines expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
15.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Delta Air Lines expected to grow at an attractive rate?
  • Delta Air Lines's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • Delta Air Lines's earnings growth is expected to exceed the Switzerland market average.
  • Delta Air Lines's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:DAL Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:DAL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 15.8%
SWX:DAL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 1.8%
Europe Airlines Industry Earnings Growth Rate Market Cap Weighted Average 18.2%
Europe Airlines Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 8.5%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 2.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:DAL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:DAL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 49,227 8,244 5,620 1
2022-12-31 48,843 8,204 4,633 6
2021-12-31 44,945 8,244 4,203 16
2020-12-31 35,759 -1,304 532 16
2020-04-01
SWX:DAL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 47,007 8,425 4,767
2019-09-30 46,310 8,713 4,688
2019-06-30 45,703 7,967 4,514
2019-03-31 44,942 7,593 4,108
2018-12-31 44,438 7,014 3,935
2018-09-30 43,924 7,660 3,214
2018-06-30 43,033 7,754 3,052
2018-03-31 42,005 7,225 3,201
2017-12-31 41,138 5,023 3,205
2017-09-30 40,368 4,257 3,529
2017-06-30 39,789 4,518 3,628
2017-03-31 39,489 5,364 3,988

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Delta Air Lines's earnings are expected to grow by 15.8% yearly, however this is not considered high growth (20% yearly).
  • Delta Air Lines's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:DAL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from Delta Air Lines Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:DAL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 7.38 8.19 6.04 4.00
2021-12-31 6.47 8.67 4.45 10.00
2020-12-31 1.43 8.12 -6.59 10.00
2020-04-01
SWX:DAL Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 7.32
2019-09-30 7.10
2019-06-30 6.73
2019-03-31 6.03
2018-12-31 5.69
2018-09-30 4.60
2018-06-30 4.33
2018-03-31 4.48
2017-12-31 4.45
2017-09-30 4.86
2017-06-30 4.96
2017-03-31 5.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Delta Air Lines is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Delta Air Lines's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Delta Air Lines has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Delta Air Lines performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Delta Air Lines's growth in the last year to its industry (Airlines).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Delta Air Lines's year on year earnings growth rate has been positive over the past 5 years.
  • Delta Air Lines's 1-year earnings growth exceeds its 5-year average (21.1% vs 11.2%)
  • Delta Air Lines's earnings growth has exceeded the Europe Airlines industry average in the past year (21.1% vs -17%).
Earnings and Revenue History
Delta Air Lines's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Delta Air Lines Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:DAL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 47,007.00 4,767.00 1,993.00
2019-09-30 46,310.00 4,688.00 1,973.00
2019-06-30 45,703.00 4,514.00 1,968.00
2019-03-31 44,942.00 4,108.00 1,941.00
2018-12-31 44,438.00 3,935.00 1,941.00
2018-09-30 43,924.00 3,214.00 1,929.00
2018-06-30 43,033.00 3,052.00 1,893.00
2018-03-31 42,005.00 3,201.00 1,838.00
2017-12-31 41,138.00 3,205.00 1,827.00
2017-09-30 40,368.00 3,529.00 1,790.00
2017-06-30 39,789.00 3,628.00 1,757.00
2017-03-31 39,489.00 3,988.00 1,738.00
2016-12-31 39,450.00 4,195.00 1,751.00
2016-09-30 39,683.00 4,731.00 1,693.00
2016-06-30 40,307.00 4,787.00 1,690.00
2016-03-31 40,567.00 4,726.00 1,674.00
2015-12-31 40,704.00 4,526.00 1,672.00
2015-09-30 40,849.00 2,834.00 1,681.00
2015-06-30 40,920.00 1,876.00 1,694.00
2015-03-31 40,834.00 1,192.00 1,713.00
2014-12-31 40,362.00 659.00 1,700.00
2014-09-30 39,791.00 9,850.00 1,680.00
2014-06-30 39,103.00 10,862.00 1,651.00
2014-03-31 38,189.00 10,746.00 1,619.00
2013-12-31 37,773.00 10,540.00 1,603.00
2013-09-30 37,299.00 2,067.00 1,589.00
2013-06-30 36,732.00 1,745.00 1,582.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Delta Air Lines has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Delta Air Lines used its assets more efficiently than the Europe Airlines industry average last year based on Return on Assets.
  • Delta Air Lines's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Delta Air Lines's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Airlines industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Delta Air Lines has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Delta Air Lines's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Delta Air Lines's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Delta Air Lines's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Delta Air Lines's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Delta Air Lines's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Delta Air Lines Company Filings, last reported 3 months ago.

SWX:DAL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 15,358.00 10,846.00 2,894.00
2019-09-30 15,068.00 9,464.00 1,906.00
2019-06-30 13,958.00 10,368.00 2,017.00
2019-03-31 12,911.00 11,460.00 1,911.00
2018-12-31 13,687.00 10,450.00 1,768.00
2018-09-30 13,704.00 9,986.00 1,859.00
2018-06-30 12,856.00 10,604.00 2,410.00
2018-03-31 12,557.00 9,711.00 1,970.00
2017-12-31 12,530.00 10,201.00 2,639.00
2017-09-30 14,001.00 8,812.00 2,438.00
2017-06-30 13,479.00 9,019.00 2,988.00
2017-03-31 12,945.00 9,233.00 2,651.00
2016-12-31 12,287.00 7,439.00 3,249.00
2016-09-30 12,510.00 7,565.00 3,155.00
2016-06-30 11,810.00 7,804.00 2,955.00
2016-03-31 11,252.00 8,451.00 2,917.00
2015-12-31 10,850.00 8,174.00 3,441.00
2015-09-30 10,345.00 8,804.00 3,815.00
2015-06-30 9,563.00 9,270.00 3,792.00
2015-03-31 9,046.00 9,572.00 3,574.00
2014-12-31 8,813.00 9,836.00 3,310.00
2014-09-30 12,296.00 10,760.00 4,366.00
2014-06-30 12,203.00 10,958.00 4,081.00
2014-03-31 11,641.00 11,713.00 3,663.00
2013-12-31 11,643.00 11,514.00 3,803.00
2013-09-30 137.00 12,516.00 3,982.00
2013-06-30 -1,184.00 12,894.00 3,923.00
  • Delta Air Lines's level of debt (70.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (111.5% vs 70.6% today).
  • Debt is well covered by operating cash flow (77.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22.1x coverage).
X
Financial health checks
We assess Delta Air Lines's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Delta Air Lines has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Delta Air Lines's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Delta Air Lines dividends. Estimated to be 3.98% next year.
If you bought CHF2,000 of Delta Air Lines shares you are expected to receive CHF0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Delta Air Lines's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Delta Air Lines's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:DAL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
Europe Airlines Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 9.8%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 159 Stocks 3.3%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2.1%
Switzerland Top 25% Dividend Yield 75th Percentile 4.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:DAL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.00 1.00
2022-12-31 1.58 6.00
2021-12-31 1.07 10.00
2020-12-31 1.05 11.00
2020-04-01
SWX:DAL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-20 0.000 0.000
2020-02-06 1.610 3.717
2020-01-14 1.610 2.738
2019-07-16 1.610 2.800
2019-07-11 1.610 2.612
2019-04-18 1.400 2.493
2019-02-07 1.400 2.686
2018-10-24 1.400 2.674
2018-10-11 1.400 2.650
2018-07-12 1.400 2.536
2018-04-27 1.220 2.317
2018-02-09 1.220 2.261
2017-11-03 1.220 2.266
2017-08-09 1.220 2.470
2017-05-05 0.810 1.576
2017-02-10 0.810 1.714
2016-10-28 0.810 1.675
2016-07-29 0.810 2.115
2016-07-15 0.810 2.059
2016-07-14 0.810 2.001
2016-04-27 0.540 1.341
2016-02-03 0.540 1.156
2015-05-13 0.540 1.174
2015-04-24 0.360 0.789
2015-04-15 0.360 0.787
2014-10-24 0.360 0.795
2014-07-25 0.360 0.964
2014-04-25 0.240 0.622
2014-02-07 0.240 0.715
2013-10-25 0.240 0.837
2013-05-08 0.240 1.175

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Delta Air Lines has not reported any payouts.
  • Unable to verify if Delta Air Lines's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Delta Air Lines's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Delta Air Lines has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.2x coverage).
X
Income/ dividend checks
We assess Delta Air Lines's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Delta Air Lines afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Delta Air Lines has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Delta Air Lines's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ed Bastian
COMPENSATION $14,982,448
AGE 61
TENURE AS CEO 3.9 years
CEO Bio

Mr. Edward H. Bastian, also known as Ed, has been the Chief Executive Officer of Delta Air Lines, Inc. since May 2, 2016. Mr. Bastian served as President of Delta Air Lines, Inc. from September 01, 2007 to May 2, 2016. He served as the Chief Executive Officer and President of NWA, Inc. He served as the Chief Executive Officer and President of Northwest Airlines, LLC from October 2008 to December 2009 and also served as its Chief Operating Officer. He served as the President and Chief Executive Officer at Northwest Airlines, Inc. from 2008 to 2009. He served as Chief Financial Officer and Executive Vice President of Delta Air Lines Inc. from July 20, 2005 to September 2007 and also served as its Principal Accounting Officer. Mr. Bastian rejoined Delta and is an 18 year Delta veteran. He served as Senior Vice President and Chief Financial Officer of Acuity Brands, Inc. from June 1, 2005 to July 2005. He has over twenty-five years of financial experience. He joined Delta in October 1998 as Vice President of Finance from 1998 to 2000 and was promoted to Senior Vice President of Finance and Controller of Delta Air Lines Inc. in February 2000 to 2005. His responsibilities at Delta included internal and external financial reporting, financial planning and analysis and Sarbanes-Oxley implementation and compliance. He spearheaded the implementation of SAP financial systems at Delta, including process and organization redesign and was instrumental in its cost reduction efforts following the events of September 11, 2001. Mr. Bastian served as Vice President of Finance and Controller of Frito-Lay International and as a Partner with Price Waterhouse in its audit practice for 13 years in entertainment, advertising and manufacturing areas. He was also the Strategic Planning Partner for Price Waterhouse's New York Region. He worked with Pepsico where he served as Vice President of business process re-engineering for Frito Lay. He has been an Independent Director of Grupo Aeromexico S.A.B. de C.V. since 2012. Mr. Bastian serves as a Member of the Board of Directors of Engage Ventures, LLC. He has been a Director of Delta Air Lines, Inc. since February 5, 2010. He served as a Director of GOL Linhas Aéreas Inteligentes S.A. from 2012 to May 5, 2016. He is Member of Board of Woodruff Arts Center. He served as a Director of Northwest Airlines, LLC. Mr. Bastian is a graduate of St. Bonaventure University with a BBA in 1979 and is also a Certified Public Accountant.

CEO Compensation
  • Ed's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Ed's remuneration is higher than average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Delta Air Lines management team in years:

4.2
Average Tenure
57
Average Age
  • The tenure for the Delta Air Lines management team is about average.
Management Team

Ed Bastian

TITLE
CEO & Director
COMPENSATION
$15M
AGE
61
TENURE
3.9 yrs

Glen Hauenstein

TITLE
President
COMPENSATION
$8M
AGE
58
TENURE
3.9 yrs

Paul Jacobson

TITLE
Executive VP & CFO
COMPENSATION
$6M
AGE
47
TENURE
8.1 yrs

Gil West

TITLE
Senior EVP & COO
COMPENSATION
$8M
AGE
58
TENURE
6.1 yrs

Peter Carter

TITLE
Executive VP
COMPENSATION
$4M
AGE
55
TENURE
4.8 yrs

Bill Carroll

TITLE
Principal Accounting Officer
AGE
61
TENURE
0.8 yrs

Don Mitacek

TITLE
Senior Vice President of Technical Operations
AGE
56

Rahul Samant

TITLE
Executive VP & Chief Information Officer
AGE
52
TENURE
4.2 yrs

Jill Greer

TITLE
Vice President of Investor Relations

John Laughter

TITLE
Senior Vice President of Corporate Safety
Board of Directors Tenure

Average tenure and age of the Delta Air Lines board of directors in years:

6.3
Average Tenure
62.5
Average Age
  • The tenure for the Delta Air Lines board of directors is about average.
Board of Directors

Frank Blake

TITLE
Non-Executive Chairman
COMPENSATION
$459K
AGE
70
TENURE
3.5 yrs

Ed Bastian

TITLE
CEO & Director
COMPENSATION
$15M
AGE
61
TENURE
10.2 yrs

Dan Carp

TITLE
Independent Director
COMPENSATION
$306K
AGE
71
TENURE
13 yrs

George Mattson

TITLE
Independent Director
COMPENSATION
$424K
AGE
53
TENURE
7.5 yrs

Bill Easter

TITLE
Independent Director
COMPENSATION
$301K
AGE
69
TENURE
7.3 yrs

Dave DeWalt

TITLE
Independent Director
COMPENSATION
$300K
AGE
55
TENURE
8.4 yrs

Sergio Rial

TITLE
Independent Director
COMPENSATION
$276K
AGE
59
TENURE
5.3 yrs

Kathy Waller

TITLE
Independent Director
COMPENSATION
$280K
AGE
61
TENURE
4.8 yrs

Jeanne Jackson

TITLE
Independent Director
COMPENSATION
$295K
AGE
67
TENURE
3.3 yrs

Ash Carter

TITLE
Independent Director
COMPENSATION
$288K
AGE
64
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • Delta Air Lines individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
02. Mar 20 Buy Berkshire Hathaway Inc. Company 27. Feb 20 27. Feb 20 976,507 CHF45.75 CHF43,970,076
02. Mar 20 Buy David Taylor Individual 27. Feb 20 27. Feb 20 1,000 CHF44.89 CHF44,893
26. Feb 20 Buy David Taylor Individual 24. Feb 20 25. Feb 20 4,000 CHF52.38 CHF204,912
10. Feb 20 Sell William Carroll Individual 07. Feb 20 07. Feb 20 -2,874 CHF56.55 CHF-162,537
07. Feb 20 Sell Wayne West Individual 05. Feb 20 05. Feb 20 -8,700 CHF57.57 CHF-500,865
30. Jan 20 Buy Michael Huerta Individual 28. Jan 20 28. Jan 20 1,025 CHF55.87 CHF57,267
13. Nov 19 Sell Edward Bastian Individual 12. Nov 19 12. Nov 19 -30,236 CHF57.18 CHF-1,728,980
25. Jul 19 Sell Rahul Samant Individual 23. Jul 19 23. Jul 19 -16,559 CHF60.93 CHF-1,008,880
22. Jul 19 Sell Wayne West Individual 19. Jul 19 19. Jul 19 -10,342 CHF61.53 CHF-636,312
17. Jul 19 Sell Glen Hauenstein Individual 16. Jul 19 16. Jul 19 -50,000 CHF62.30 CHF-3,114,983
16. Jul 19 Sell William Carroll Individual 16. Jul 19 16. Jul 19 -6,384 CHF61.24 CHF-390,967
30. May 19 Sell Steven Sear Individual 29. May 19 29. May 19 -8,993 CHF53.66 CHF-482,587
28. May 19 Sell Michael Huerta Individual 24. May 19 24. May 19 -1,010 CHF54.41 CHF-54,956
24. Apr 19 Sell Peter Carter Individual 23. Apr 19 23. Apr 19 -25,000 CHF59.29 CHF-1,482,322
23. Apr 19 Sell Edward Bastian Individual 22. Apr 19 22. Apr 19 -30,000 CHF58.39 CHF-1,751,565
12. Apr 19 Sell Wayne West Individual 11. Apr 19 11. Apr 19 -7,465 CHF58.72 CHF-438,334
12. Apr 19 Sell Joanne Smith Individual 11. Apr 19 11. Apr 19 -34,000 CHF58.19 CHF-1,978,567
X
Management checks
We assess Delta Air Lines's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Delta Air Lines has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle, and Seoul-Incheon. The company sells its tickets through various distribution channels, including delta.com and the Fly Delta app, telephone reservations, online travel agencies, traditional brick and mortar, and other agencies. It also provides aircraft maintenance, repair, and overhaul services; and vacation packages to third-party consumers, as well as aircraft charters, and management and programs. The company operates through a fleet of approximately 1,000 aircraft. Delta Air Lines, Inc. was founded in 1924 and is based in Atlanta, Georgia.

Details
Name: Delta Air Lines, Inc.
DAL
Exchange: SWX
Founded: 1924
$17,525,023,611
637,503,516
Website: http://www.delta.com
Address: Delta Air Lines, Inc.
PO Box 20706,
Atlanta,
Georgia, 30320-6001,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DAL Common Stock New York Stock Exchange US USD 26. Apr 2007
DB OYC Common Stock Deutsche Boerse AG DE EUR 26. Apr 2007
LSE 0QZ4 Common Stock London Stock Exchange GB USD 26. Apr 2007
SWX DAL Common Stock SIX Swiss Exchange CH CHF 26. Apr 2007
WBAG DAL Common Stock Wiener Boerse AG AT EUR 26. Apr 2007
BMV DAL * Common Stock Bolsa Mexicana de Valores MX MXN 26. Apr 2007
BOVESPA DEAI34 BDR EACH REPR 1 COM USD0.0001 Bolsa de Valores de Sao Paulo BR BRL 25. Apr 2016
Number of employees
Current staff
Staff numbers
91,000
Delta Air Lines employees.
Industry
Airlines
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 04:50
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/29
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.