Delta Air Lines (DAL) Financial Ratios: P/E, ROE & More

Delta Air Lines (DAL) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Delta Air Lines had a P/E ratio of 8.99 (down from 11.22), return on equity of 27.7% (up from 26.2%), debt-to-equity of 1.02 (down from 1.56) and a current ratio of 0.40 (up from 0.37). A current ratio of 0.40 means current liabilities exceed current assets. Its dividend yield was 1.03% with a payout ratio of 8.8%.

Delta Air Lines Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	8.99	11.22	5.59	15.96	89.02	-
Forward P/E	10.33	8.24	6.83	6.15	22.05	-
P/S Ratio	0.71	0.63	0.44	0.42	0.83	1.49
P/B Ratio	2.16	2.54	2.32	3.19	6.41	16.65
Price/Tangible Book	8.77	-	-	-	-	-
Price/FCF	11.71	13.45	22.58	-	1466.18	-
Price/OCF	5.40	4.83	3.98	3.31	7.64	-
PEG Ratio	1.28	0.96	0.20	1.74	1.74	-
Enterprise Value Ratios
EV/Revenue	1.00	0.98	0.84	0.88	1.57	2.72
EV/EBITDA	8.14	7.54	6.68	7.75	-	-
EV/EBIT	11.22	10.38	9.22	11.29	-	-
EV/FCF	16.47	20.90	42.64	-	2765.89	-
Profitability & Returns
Return on Equity (ROE)	27.69%	26.19%	52.12%	25.18%	10.33%	-146.64%
Return on Assets (ROA)	4.50%	4.87%	4.52%	3.41%	-1.88%	-7.29%
Return on Invested Capital (ROIC)	12.34%	12.03%	12.88%	9.06%	-5.84%	-13.91%
Return on Capital Employed (ROCE)	10.50%	11.90%	11.20%	8.50%	-4.20%	-14.20%
Leverage & Solvency Ratios
Debt/Equity	1.02	1.56	2.56	4.82	9.21	23.89
Debt/EBITDA	1.73	1.98	2.64	3.59	16.05	-
Debt/FCF	5.56	8.27	24.87	-	2104.65	-
Liquidity Ratios
Current Ratio	0.40	0.37	0.39	0.50	0.76	1.09
Quick Ratio	0.26	0.24	0.27	0.37	0.66	0.97
Efficiency Ratios
Asset Turnover	0.81	0.83	0.80	0.70	0.41	0.25
Inventory Turnover	33.28	35.28	33.50	32.46	30.31	21.05
Yield & Distribution Ratios
Earnings Yield	11.12%	8.91%	17.89%	6.27%	1.12%	-48.49%
FCF Yield	8.54%	7.44%	4.43%	-0.01%	0.07%	-22.29%
Dividend Yield	1.03%	0.91%	0.74%	-	-	1.02%
Payout Ratio	8.79%	9.29%	2.78%	-	-	-
Buyback Yield	-0.93%	-0.78%	-0.31%	-0.31%	-0.79%	2.60%
Total Return	0.10%	0.13%	0.43%	-0.31%	-0.79%	3.63%

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About Delta Air Lines Financial Ratios

What is Delta Air Lines's P/E ratio?

Delta Air Lines's P/E ratio was 8.99 for fiscal 2025 (period ended Dec 31, 2025). It was 11.22 a year earlier.

What is Delta Air Lines's return on equity?

Delta Air Lines's return on equity (ROE) was 27.7% for fiscal 2025 (period ended Dec 31, 2025). It was 26.2% a year earlier.

What is Delta Air Lines's debt-to-equity ratio?

Delta Air Lines's debt-to-equity ratio was 1.02 for fiscal 2025 (period ended Dec 31, 2025). It was 1.56 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition