Delta Air Lines (DAL) valuation
Delta Air Lines P/E ratio history
Delta Air Lines trades at 16.0 times its earnings over the last twelve months and 11.7 times the earnings analysts expect over the next twelve. At its last 9 fiscal year ends its P/E ranged from 5.6 (year to Dec 2023) to 88.8 (year to Dec 2021), with a median of 9.1.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $69.40 | $7.66 | 9.1 | 10.1 |
| Dec 31, 2024 | $60.50 | $5.33 | 11.4 | 8.6 |
| Dec 31, 2023 | $40.23 | $7.17 | 5.6 | 6.2 |
| Dec 31, 2022 | $32.86 | $2.06 | 16.0 | 7.6 |
| Dec 31, 2021 | $39.08 | $0.44 | 88.8 | 22.5 |
| Dec 31, 2020 | $40.21 | -$19.49 | n/m | — |
| Dec 31, 2019 | $58.48 | $7.32 | 8.0 | — |
| Dec 31, 2018 | $49.90 | $5.69 | 8.8 | — |
| Dec 31, 2017 | $56.00 | $4.42 | 12.7 | — |
| Dec 31, 2016 | $49.19 | $5.77 | 8.5 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Delta Air Lines valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Delta Air LinesDAL | $52.7B | 16.0 | 11.7 | 0.7 |
| FedExFDX | $74.8B | 21.0 | 15.5 | 0.8 |
| Norfolk SouthernNSC | $77.0B | 28.7 | 24.2 | 5.9 |
| Old DominionODFL | $35.9B | 33.2 | 26.4 | 6.4 |
| United Airlines HoldingsUAL | $33.8B | 9.6 | 9.7 | 0.5 |
| United Parcel ServiceUPS | $92.0B | 20.1 | 13.7 | 1.0 |
| CSXCSX | $96.3B | 26.9 | 22.9 | 6.5 |
| Expeditors InternationalEXPD | $26.0B | 28.9 | 24.9 | 2.2 |
| Uber TechnologiesUBER | $133B | 14.3 | 16.8 | 2.4 |
| Peer median | 24.0 | 19.9 | 2.3 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: DAL financials · DAL returns
No forecast, no recommendation. This page describes Delta Air Lines from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.