DELTA AIR LINES, INC.
DAL · Air Transportation, Scheduled · 657.0M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $175M (gross $344M, SBC $169M)
Reference price $80.90 · est. market cap ~$53.2B — last insider sale, 2026-05-27 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Delta is the premium leader among U.S. network carriers with top-tier returns and margins, strong loyalty economics and improving balance sheet.
Strengths
- Sector-leading ROE (24%, 100th pct), net margin (100th pct), ROA (100th pct) and operating margin (90.9th pct)
- 45% net income growth, high-margin SkyMiles/Amex remuneration ($8.2B) and durable brand/hub advantages
Risks
- Cyclical, capital-intensive model with weak liquidity (current/quick ratio 15th pct)
- Main-cabin demand softness and fuel/macro sensitivity
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
9.2%
Net margin
7.9%
Return on equity
24.0%
Return on assets
6.2%
ROIC
14.0%
Revenue growth (QoQ)
-0.9%
Net-income growth
44.8%
Debt / equity
0.6×
Net debt / EBITDA
0.9×
Current ratio
0.4×
EBITDA
$8.3B
Tangible book value
$5.1B
Cash & investments
$4.3B
Stock comp / revenue
0.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | Beck Christophe | Grant | 2.4K | — |
| 2026-06-18 | McKenna Judith J | Grant | 2.4K | — |
| 2026-06-18 | Waller Kathy N | Grant | 2.4K | — |
| 2026-06-18 | Chiang Willie CW | Grant | 2.4K | — |
| 2026-06-18 | PRABHU VASANT M | Grant | 2.4K | — |
| 2026-06-18 | Creed Greg | Grant | 2.4K | — |
| 2026-06-18 | Black Maria | Grant | 2.4K | — |
| 2026-06-18 | HUERTA MICHAEL P | Grant | 2.4K | — |
| 2026-06-18 | Rial Sergio | Tax withheld | 1.3K | $84.18 |
| 2026-06-18 | Rial Sergio | Grant | 2.4K | — |
| 2026-06-18 | DEWALT DAVID G | Grant | 2.4K | — |
| 2026-06-18 | Hale Leslie D. | Grant | 2.4K | — |
| 2026-06-18 | Taylor David S | Grant | 3.8K | — |
| 2026-05-27 | Ausband Allison C | Sell | 5.0K | $80.90 |
| 2026-05-27 | BELLEMARE ALAIN | Sell | 25K | $81.44 |
| 2026-05-26 | Ausband Allison C | Sell | 5.0K | $79.00 |
| 2026-05-22 | Ausband Allison C | Option exercise | 9.7K | $51.23 |
| 2026-05-22 | Ausband Allison C | Sell | 9.7K | $76.00 |
| 2026-05-21 | Ausband Allison C | Sell | 5.0K | $73.50 |
| 2026-05-07 | BELLEMARE ALAIN | Sell | 21K | $72.75 |
| 2026-04-22 | McConnell Julia Ann | Grant | 740 | — |
| 2026-04-14 | Laughter John E | Sell | 15K | $71.61 |
| 2026-04-10 | Laughter John E | Option exercise | 13K | $58.89 |
| 2026-04-10 | Laughter John E | Option exercise | 9.1K | $39.78 |
| 2026-04-10 | Laughter John E | Sell | 69K | $68.15 |
| 2026-04-01 | BELLEMARE ALAIN | Grant | 2.5K | — |
| 2026-04-01 | Janki Daniel C. | Grant | 5.5K | — |
| 2026-04-01 | Carter Peter W | Grant | 3.0K | — |
| 2026-04-01 | Snell Erik Storey | Grant | 7.4K | — |
| 2026-02-26 | Bastian Edward H | Sell | 100K | $70.26 |
| 2026-02-09 | BELLEMARE ALAIN | Sell | 35K | $75.20 |
| 2026-02-09 | HAUENSTEIN GLEN W | Sell | 137K | $75.27 |
| 2026-02-09 | Sear Steven M | Sell | 39K | $75.05 |
| 2026-02-06 | HAUENSTEIN GLEN W | Option exercise | 124K | $49.33 |
| 2026-02-06 | HAUENSTEIN GLEN W | Sell | 166K | $71.00 |
| 2026-02-06 | HAUENSTEIN GLEN W | Sell | 124K | $74.77 |
| 2026-02-06 | Carter Peter W | Sell | 27K | $74.82 |
| 2026-02-05 | HAUENSTEIN GLEN W | Sell | 14K | $71.00 |
| 2026-02-05 | Samant Rahul D | Sell | 63K | $70.18 |
| 2026-02-04 | BELLEMARE ALAIN | Tax withheld | 56K | $70.86 |
| 2026-02-04 | Snell Erik Storey | Grant | 12K | — |
| 2026-02-04 | Sear Steven M | Grant | 12K | — |
| 2026-02-04 | Sear Steven M | Grant | 70K | — |
| 2026-02-04 | Sear Steven M | Tax withheld | 31K | $70.86 |
| 2026-02-04 | Samant Rahul D | Grant | 97K | — |
| 2026-02-04 | Samant Rahul D | Tax withheld | 43K | $70.86 |
| 2026-02-04 | Laughter John E | Grant | 70K | — |
| 2026-02-04 | Laughter John E | Tax withheld | 31K | $70.86 |
| 2026-02-04 | Janki Daniel C. | Grant | 19K | — |
| 2026-02-04 | Janki Daniel C. | Grant | 230K | — |
| 2026-02-04 | Janki Daniel C. | Tax withheld | 102K | $70.86 |
| 2026-02-04 | HAUENSTEIN GLEN W | Grant | 741K | — |
| 2026-02-04 | HAUENSTEIN GLEN W | Tax withheld | 330K | $70.86 |
| 2026-02-04 | Esposito Joseph James | Grant | 14K | — |
| 2026-02-04 | Duggirala Amala | Grant | 16K | — |
| 2026-02-04 | Carter Peter W | Grant | 18K | — |
| 2026-02-04 | Carter Peter W | Grant | 468K | — |
| 2026-02-04 | Carter Peter W | Tax withheld | 208K | $70.86 |
| 2026-02-04 | BELLEMARE ALAIN | Grant | 21K | — |
| 2026-02-04 | BELLEMARE ALAIN | Grant | 125K | — |
| 2026-02-04 | Bastian Edward H | Grant | 70K | — |
| 2026-02-04 | Bastian Edward H | Grant | 1.4M | — |
| 2026-02-04 | Bastian Edward H | Tax withheld | 637K | $70.86 |
| 2026-02-04 | Ausband Allison C | Grant | 16K | — |
| 2026-02-04 | Ausband Allison C | Grant | 70K | — |
| 2026-02-04 | Ausband Allison C | Tax withheld | 31K | $70.86 |
| 2026-02-02 | Carroll William C | Sell | 6.0K | $68.10 |
| 2026-01-30 | Carter Peter W | Tax withheld | 3.3K | $65.89 |
| 2026-01-30 | Carter Peter W | Tax withheld | 2.8K | $65.89 |
| 2026-01-30 | Snell Erik Storey | Tax withheld | 2.1K | $65.89 |
| 2026-01-30 | Snell Erik Storey | Tax withheld | 2.0K | $65.89 |
| 2026-01-30 | Snell Erik Storey | Tax withheld | 1.8K | $65.89 |
| 2026-01-30 | Carroll William C | Tax withheld | 1.1K | $65.89 |
| 2026-01-30 | Carroll William C | Tax withheld | 980 | $65.89 |
| 2026-01-30 | Carroll William C | Tax withheld | 572 | $65.89 |
| 2026-01-30 | Esposito Joseph James | Tax withheld | 1.4K | $65.89 |
| 2026-01-30 | Esposito Joseph James | Tax withheld | 1.3K | $65.89 |
| 2026-01-30 | Esposito Joseph James | Tax withheld | 821 | $65.89 |
| 2026-01-30 | Ausband Allison C | Tax withheld | 2.1K | $65.89 |
| 2026-01-30 | Ausband Allison C | Tax withheld | 1.4K | $65.89 |
| 2026-01-30 | Samant Rahul D | Tax withheld | 4.3K | $65.89 |
| 2026-01-30 | Samant Rahul D | Tax withheld | 2.5K | $65.89 |
| 2026-01-30 | HAUENSTEIN GLEN W | Tax withheld | 7.3K | $65.89 |
| 2026-01-30 | HAUENSTEIN GLEN W | Tax withheld | 4.2K | $65.89 |
| 2026-01-30 | Bastian Edward H | Tax withheld | 14K | $65.89 |
| 2026-01-30 | Bastian Edward H | Tax withheld | 8.6K | $65.89 |
| 2026-01-30 | Laughter John E | Tax withheld | 2.1K | $65.89 |
| 2026-01-30 | Laughter John E | Tax withheld | 1.4K | $65.89 |
| 2026-01-30 | Janki Daniel C. | Tax withheld | 3.9K | $65.89 |
| 2026-01-30 | BELLEMARE ALAIN | Tax withheld | 3.2K | $65.89 |
| 2026-01-30 | Janki Daniel C. | Tax withheld | 5.1K | $65.89 |
| 2026-01-30 | Janki Daniel C. | Tax withheld | 3.0K | $65.89 |
| 2026-01-30 | Sear Steven M | Tax withheld | 3.1K | $65.89 |
| 2026-01-30 | Sear Steven M | Tax withheld | 1.8K | $65.89 |
| 2026-01-30 | BELLEMARE ALAIN | Tax withheld | 5.5K | $65.89 |
| 2026-01-30 | BELLEMARE ALAIN | Tax withheld | 4.2K | $65.89 |
| 2026-01-16 | Snell Erik Storey | Option exercise | 9.1K | $39.78 |
| 2026-01-16 | Snell Erik Storey | Option exercise | 14K | $50.52 |
| 2026-01-16 | Snell Erik Storey | Option exercise | 13K | $58.89 |
| 2026-01-16 | Snell Erik Storey | Sell | 39K | $71.02 |
| 2026-01-15 | BELLEMARE ALAIN | Sell | 36K | $69.21 |
| 2026-01-15 | Bastian Edward H | Option exercise | 173K | $43.61 |
| 2026-01-15 | Bastian Edward H | Sell | 173K | $71.00 |
| 2026-01-15 | Carter Peter W | Sell | 14K | $70.30 |
| 2026-01-14 | Sear Steven M | Sell | 31K | $69.69 |
| 2026-01-14 | Samant Rahul D | Sell | 17K | $69.57 |
| 2026-01-14 | Samant Rahul D | Option exercise | 40K | $51.23 |
| 2026-01-14 | Samant Rahul D | Sell | 40K | $69.57 |
| 2026-01-14 | HAUENSTEIN GLEN W | Sell | 20K | $70.00 |
| 2026-01-14 | Sear Steven M | Option exercise | 31K | $49.33 |
| 2026-01-12 | Duggirala Amala | Grant | 14K | — |
| 2025-10-21 | Laughter John E | Option exercise | 9.7K | $51.23 |
| 2025-10-21 | Laughter John E | Option exercise | 11K | $50.52 |
| 2025-10-21 | Laughter John E | Sell | 23K | $62.33 |
| 2025-10-21 | Laughter John E | Option exercise | 2.5K | $49.33 |
| 2025-10-15 | Carroll William C | Option exercise | 6.9K | $50.52 |
| 2025-10-15 | Carroll William C | Option exercise | 4.5K | $39.78 |
| 2025-10-15 | Carroll William C | Option exercise | 2.5K | $58.89 |
| 2025-10-15 | Carroll William C | Sell | 14K | $61.25 |
| 2025-08-27 | HAUENSTEIN GLEN W | Sell | 10K | $61.31 |
| 2025-08-19 | HUERTA MICHAEL P | Sell | 2.5K | $60.70 |
| 2025-07-23 | Bastian Edward H | Sell | 35K | $56.28 |
| 2025-07-15 | Sear Steven M | Sell | 18K | $55.96 |
| 2025-07-15 | Carter Peter W | Sell | 18K | $57.19 |
| 2025-07-11 | BELLEMARE ALAIN | Sell | 25K | $54.95 |
| 2025-07-11 | BELLEMARE ALAIN | Sell | 20K | $56.32 |
| 2025-06-20 | Creed Greg | Grant | 4.2K | — |
| 2025-06-20 | Taylor David S | Grant | 6.8K | — |
| 2025-06-20 | PRABHU VASANT M | Grant | 4.2K | — |
| 2025-06-20 | McKenna Judith J | Grant | 4.2K | — |
| 2025-06-20 | HUERTA MICHAEL P | Grant | 4.2K | — |
| 2025-06-20 | DEWALT DAVID G | Grant | 4.2K | — |
| 2025-06-20 | Rial Sergio | Grant | 4.2K | — |
| 2025-06-20 | Black Maria | Grant | 4.2K | — |
| 2025-06-20 | Beck Christophe | Grant | 4.2K | — |
| 2025-06-20 | Waller Kathy N | Grant | 4.2K | — |
| 2025-06-20 | Hale Leslie D. | Grant | 4.2K | — |
| 2025-06-20 | Chiang Willie CW | Grant | 4.2K | — |
| 2025-06-18 | Rial Sergio | Tax withheld | 1.2K | $47.56 |
| 2025-04-11 | Taylor David S | Buy | 10K | $39.20 |
| 2025-04-10 | Creed Greg | Buy | 5.0K | $41.84 |
| 2025-02-11 | Samant Rahul D | Sell | 38K | $64.89 |
| 2025-02-05 | Sear Steven M | Tax withheld | 22K | $69.06 |
| 2025-02-05 | Janki Daniel C. | Grant | 20K | — |
| 2025-02-05 | Janki Daniel C. | Grant | 88K | — |
| 2025-02-05 | Janki Daniel C. | Tax withheld | 39K | $69.06 |
| 2025-02-05 | Laughter John E | Grant | 14K | — |
| 2025-02-05 | Laughter John E | Grant | 34K | — |
| 2025-02-05 | Laughter John E | Tax withheld | 15K | $69.06 |
| 2025-02-05 | Ausband Allison C | Grant | 14K | — |
| 2025-02-05 | Ausband Allison C | Grant | 38K | — |
| 2025-02-05 | Ausband Allison C | Tax withheld | 17K | $69.06 |
| 2025-02-05 | HAUENSTEIN GLEN W | Grant | 28K | — |
| 2025-02-05 | HAUENSTEIN GLEN W | Grant | 188K | — |
| 2025-02-05 | HAUENSTEIN GLEN W | Tax withheld | 84K | $69.06 |
| 2025-02-05 | Carroll William C | Grant | 5.8K | — |
| 2025-02-05 | Samant Rahul D | Sell | 6.7K | $69.07 |
| 2025-02-05 | Samant Rahul D | Option exercise | 11K | $49.33 |
| 2025-02-05 | Samant Rahul D | Sell | 11K | $69.09 |
| 2025-02-05 | Samant Rahul D | Grant | 17K | — |
| 2025-02-05 | Samant Rahul D | Grant | 69K | — |
| 2025-02-05 | Samant Rahul D | Tax withheld | 31K | $69.06 |
| 2025-02-05 | Bastian Edward H | Grant | 58K | — |
| 2025-02-05 | Bastian Edward H | Grant | 335K | — |
| 2025-02-05 | Bastian Edward H | Tax withheld | 151K | $69.06 |
| 2025-02-05 | Carter Peter W | Grant | 19K | — |
| 2025-02-05 | Carter Peter W | Grant | 123K | — |
| 2025-02-05 | Carter Peter W | Tax withheld | 55K | $69.06 |
| 2025-02-05 | BELLEMARE ALAIN | Grant | 22K | — |
| 2025-02-05 | BELLEMARE ALAIN | Grant | 88K | — |
| 2025-02-05 | BELLEMARE ALAIN | Tax withheld | 39K | $69.06 |
| 2025-02-05 | Snell Erik Storey | Grant | 12K | — |
| 2025-02-05 | Sear Steven M | Grant | 12K | — |
| 2025-02-05 | Sear Steven M | Grant | 49K | — |
| 2025-02-03 | Carroll William C | Sell | 6.8K | $65.94 |
| 2025-01-31 | HAUENSTEIN GLEN W | Tax withheld | 7.3K | $67.27 |
| 2025-01-31 | BELLEMARE ALAIN | Tax withheld | 3.5K | $67.27 |
| 2025-01-31 | BELLEMARE ALAIN | Tax withheld | 6.2K | $67.27 |
| 2025-01-31 | BELLEMARE ALAIN | Tax withheld | 5.6K | $67.27 |
| 2025-01-31 | Samant Rahul D | Tax withheld | 3.0K | $67.27 |
| 2025-01-31 | Snell Erik Storey | Tax withheld | 1.3K | $67.27 |
| 2025-01-31 | Snell Erik Storey | Tax withheld | 1.4K | $67.27 |
| 2025-01-31 | Snell Erik Storey | Tax withheld | 1.4K | $67.27 |
| 2025-01-31 | Laughter John E | Tax withheld | 2.2K | $67.27 |
| 2025-01-31 | Ausband Allison C | Tax withheld | 2.2K | $67.27 |
| 2025-01-31 | Bastian Edward H | Tax withheld | 14K | $67.27 |
| 2025-01-31 | Sear Steven M | Tax withheld | 2.2K | $67.27 |
| 2025-01-31 | Carter Peter W | Tax withheld | 3.3K | $67.27 |
| 2025-01-31 | Janki Daniel C. | Tax withheld | 3.5K | $67.27 |
| 2025-01-31 | Janki Daniel C. | Tax withheld | 5.7K | $67.27 |
| 2025-01-31 | Janki Daniel C. | Tax withheld | 5.1K | $67.27 |
| 2025-01-31 | Carroll William C | Tax withheld | 963 | $67.27 |
| 2025-01-31 | Carroll William C | Tax withheld | 1.0K | $67.27 |
| 2025-01-31 | Carroll William C | Tax withheld | 987 | $67.27 |
| 2025-01-22 | Bastian Edward H | Option exercise | 92K | $46.14 |
| 2025-01-22 | Bastian Edward H | Sell | 92K | $69.85 |
| 2025-01-17 | Carroll William C | Option exercise | 8.4K | $58.89 |
| 2025-01-17 | Carroll William C | Sell | 8.4K | $66.02 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (3)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Shareholder vote | filing ↗ |
| 2026-06-12 | Material agreementDebt obligation | filing ↗ |
| 2026-04-08 | ResultsExhibits | filing ↗ |
| 2026-03-17 | Reg FDExhibits | filing ↗ |
| 2026-03-05 | Exec/director changeExhibits | filing ↗ |
| 2026-02-13 | Exec/director change | filing ↗ |
| 2026-01-27 | Material agreement | filing ↗ |
| 2026-01-13 | Material agreementResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001683168-26-005025 ↗ |
| 8-K | 2026-06-12 | 2026-06-11 | 0001683168-26-004816 ↗ |
| 10-Q | 2026-04-08 | 2026-03-31 | 0000027904-26-000022 ↗ |
| 8-K | 2026-04-08 | 2026-04-08 | 0000027904-26-000020 ↗ |
| 8-K | 2026-03-17 | 2026-03-17 | 0001683168-26-001875 ↗ |
| 8-K | 2026-03-05 | 2026-02-27 | 0001683168-26-001510 ↗ |
| 8-K | 2026-02-13 | 2026-02-11 | 0001683168-26-001033 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0000027904-26-000013 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001683168-26-000578 ↗ |
| 8-K | 2026-01-13 | 2026-01-12 | 0000027904-26-000008 ↗ |
| 8-K | 2025-12-17 | 2025-12-11 | 0001683168-25-009232 ↗ |
| 8-K | 2025-12-03 | 2025-12-03 | 0001683168-25-008823 ↗ |