DAL · Intrinsic value
Is Delta Air Lines, Inc. (DAL) overvalued or undervalued?
Delta Air Lines, Inc. (DAL) trades at the delayed market price of $75.37 a share. That price already implies revenue growth of 6.9% a year for 5 years. TickerWorth's fair value is $69.17 a share (priced within our range of $49.71 – $82.66). We do not call it over- or undervalued from inside our range.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is DAL fairly valued?
- Fair value
- $69.17
- Market price
- $75.37
- Downside to fair value
- 8.2%
- Verdict
- Priced within our range of $49.71 – $82.66
Reverse DCF: Today's price implies revenue growth of 6.9% a year for 5 years; our model assumes 8.5% a year on average over the same horizon.
What is DAL's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Industrials companies in US
Its strongest point: looks cheap on the numbers. Its weakest: profitability is weak.
- Value · 86 of 100
Cheaper than 86% of Industrials companies in US
- Price vs worth · 43 of 100
- Quality · 30 of 100
More profitable than 30% of Industrials companies in US
- Financial health · 34 of 100
Financially stronger than 34% of Industrials companies in US
- Growth · 46 of 100
Growing faster than 46% of Industrials companies in US
- Momentum · 62 of 100
Outperformed 62% of Industrials companies in US over the past year
Confidence: High confidence · Scored
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DAL DCF valuation, input by input
TickerWorth's fair value for Delta Air Lines, Inc. (DAL) is $69.17 a share, against the delayed market price of $75.37 (priced within our range of $49.71 – $82.66). We do not call it over- or undervalued from inside our range. It is a model estimate, and every input behind it is sourced below. This is an educational model, not a price target or a recommendation.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values DAL at about $82.66 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts Delta Air Lines, Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 9.7%, with a long-run terminal growth rate of 2.5%. About 73% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 6.9% annual revenue growth for DAL. Our base case instead compounds to about 8.5% a year over the same forecast, so the market's implied growth is broadly in line with our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, DAL's modeled DCF value ranges from about $59.69 to $129.68 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Delta Air Lines, Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of DAL's intrinsic value. Figures update as new filings and prices come in.
Every input behind DAL's DCF
| Input | Value |
|---|---|
| Base-year revenueDELTA AIR LINES, INC. FY2025 10-K (accession 0000027904-26-000013): us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, FY2025 full year. | $63,364,000,000 |
| Base EBIT marginDELTA AIR LINES, INC. FY2025 10-K (accession 0000027904-26-000013): us-gaap:OperatingIncomeLoss 5,822,000,000 / revenue 63,364,000,000 = 9.19%, FY2025. | 9.2% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 13% → 11% → 9% → 6% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.1% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.34 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesDELTA AIR LINES, INC. FY2025 10-K (accession 0000027904-26-000013): WeightedAverageNumberOfDilutedSharesOutstanding = 654,000,000 shares, FY2025. | 654M |
| Market priceDelayed quote · as of 2026-10-19 13:53 UTC | $75.37 |
Change DAL's assumptions
The discount-rate dial and the editable model
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What does Delta Air Lines, Inc. do?
What does it do?
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. It operates in the Airlines industry (Industrials sector), headquartered in United States. The company employs roughly 100,000 people.
How does it make money?
The business turns $71.8B in annual revenue into profit. Out of every $100 of sales, about $7 is left as operating profit (operating margin of 7.2%), after a 18% gross margin on the products/services it sells. After all costs, taxes and interest, 4.6% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries modest debt (0.9× equity), may struggle to cover its short-term bills (0.4× current ratio), and is currently profitable.
DAL insider trading
We have no recent SEC Form 4 insider filings on file for Delta Air Lines, Inc.. Form 4 covers US-listed companies only.
Common questions
What is DAL's intrinsic value?
TickerWorth's blended fair value for Delta Air Lines, Inc. (DAL) is $69.17 per share, versus a market price of $75.37 (priced within our range of $49.71 – $82.66).
Is DAL overvalued or undervalued?
Priced within our range of $49.71 – $82.66 at $75.37. We don't call DAL overvalued or undervalued from a range. This is an educational estimate, not advice.
What discount rate is used for DAL?
A WACC of 9.7% and a terminal growth rate of 2.5%.
Is Delta Air Lines stock undervalued?
TickerWorth's fair value for Delta Air Lines, Inc. (DAL) is $69.17 against a market price of $75.37. Our read: Priced within our range of $49.71 – $82.66. This is a model estimate, not investment advice.
Delta Air Lines (DAL) DCF valuation and fair value
Our fair value for Delta Air Lines, Inc. (DAL) is $69.17, built on a 9.7% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Delta Air Lines stock?
Today's price implies revenue growth of 6.9% a year for 5 years; our model assumes 8.5% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $75.37. A model estimate, not investment advice.
Delta Air Lines (DAL) insider trading
We have no recent SEC Form 4 insider filings on file for Delta Air Lines, Inc. (DAL). Form 4 covers US-listed companies only.
How does DAL compare with its peers?
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Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.