Independent equity research
Is Delta Air Lines (DAL) a Buy, Hold or Sell?
Delta Air Lines — our independent, AI-built valuation and rating, in brief.
HOLD
12-mo fair value
$92.00
To fair value
+8%
Report dated 2026-07-10 · fair value derived independently of the market price.
The thesis, in brief
Best-run US airline; Q2 beat ($1.56 vs $1.47) and reaffirmed the +20% FY guide despite record fuel; the quality re-rating is done. Buyer in the $75–79 area
How we value it
We value Delta Air Lines using FCF/DCF 7y (9.3% WACC) + fwd P/E. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalized EPS
- Returns on capital (ROIC vs WACC)
- Balance-sheet safety
- Two independent valuations (DCF + multiples)
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full Delta Air Lines report
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