DAL
Delta Air Lines, Inc.Evidence as of 2026-09-11The desk's Snapshot
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Overview · Delta Air Lines, Inc.
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international…
Management team
- Ms. Alicia L. Tillman · Chief Marketing OfficerFind on LinkedIn
- Mr. Rahul Samant · Executive VP & Chief Information OfficerFind on LinkedIn
- Mr. John E. Laughter · President of Delta TechOps & Chief of OperationsFind on LinkedIn
- Mr. Peter W. Carter · Executive VP & Chief External Affairs OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.7 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The surviving evidence supports a cautious read (evidence balance = Cautious, -0.7) with high confidence. Revenue rose from $ 15,854,000,000 in Q1 2026 to $ 19,757,000,000 in Q2 2026, and operating income increased from $ 501,000,000 to $ 1,864,000,000 over the same quarters. Net income moved from a loss of $ 289,000,000 in Q1 2026 to net income of $ 1,604,000,000 in Q2 2026, and diluted EPS went from -$ 0.44 to $ 2.44; diluted weighted‑average shares rose modestly from 652,000,000 to 658,000,000. Point‑in‑time balance sheet items show long‑term debt down from $ 13,235,000,000 to $ 12,905,000,000 while cash and cash equivalents declined from $ 5,053,000,000 to $ 4,665,000,000 and total stockholders’ equity rose from $ 20,376,000,000 to $ 21,815,000,000.
Valuation metrics in the packet show trailing twelve‑month FCF of $ 4,660,000,000 with P/FCF = 11.05, EBITDA TTM = $ 8,658,000,000 and EV/EBITDA = 6.89, and an implied FCF growth rate of -4.74% per year under the model’s stated assumptions — the materials note this implies the current price embeds a scenario where future FCF could decline from the recent twelve‑month level rather than grow.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue from contracts (single fiscal quarters) rose from $15,854,000,000 in the quarter ended 31 March 2026 to $19,757,000,000 in the quarter ended 30 June 2026.
XBRL companyfacts · 0000027904-26-000022Operating income increased from $501,000,000 in the quarter ended 31 March 2026 to $1,864,000,000 in the quarter ended 30 June 2026.
XBRL companyfacts · 0000027904-26-000022Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 2025 Form 10-K (filed 11 February 2026) added a risk disclosure that our networks and systems and those of our partners are subject to continually evolving cybersecurity risks that must be managed.
10-K filed 2026-02-11The 2025 Form 10-K (filed 11 February 2026) states fuel costs represented 17% of operating expense in 2025, 19% in 2024 and 21% in 2023, and reports the companyaverage fuel price per gallon ranged from a monthly high of $3.22 in October 2023 to a monthly low of $2.20 in August 2025.
10-K filed 2026-02-11Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
M&T Bank Corp is reported as a top 13F holder with a holding value of $3.7M as of 2026-03-31.
13F holdings · 1 filers · as of 2026-03-31weakened in debateThe 13F ownership dataset shows a single reported institutional holder (holder_count = 1) and a total reported institutional value of $3.7M for the period ended 2026-03-31.
13F holdings · 1 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Coverage includes a safety incident where a Delta flight plunged 27,000 feet in 10 minutes after a pressurization issue forced an emergency landing.
News · independent.co.uk · 2026-09-10Separate reporting noted a Delta flight returned to John F. Kennedy International Airport about two hours after takeoff due to a pressure issue on board.
News · cbsnews.com · 2026-09-10Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model calculates an implied free cash flow (FCF) growth rate of -4.74% per year that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month free cash flow (FCF TTM) is $4,660,000,000 and price-to-FCF (P/FCF) is 11.05.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The company’s most recent quarterly filings show a sizeable quarter-to-quarter operational recovery: revenue, operating income, and net income all moved materially higher from the March to June quarter, while long-term debt fell and book equity rose. Trailing multiples (EV/EBITDA ~6.9, P/FCF ~11.0, P/E ~10.5) and a healthy trailing FCF level provide valuation context consistent with a favorable read based on recent cash-flow generation. Several risks cited by the bear — cybersecurity and fuel/refinery disclosures, a past outage and isolated in-flight incidents, and low reported 13F holdings — are risk disclosures, single-event reports, or reporting-lag artifacts in the dataset rather than contemporaneous operational metrics, and therefore do not negate the quarter-to-quarter improvement documented in SEC filings. Evidence strength: the operational and balance-sheet changes are high-strength (SEC quarter filing), valuation multiples are medium-strength (model outputs), and the risk/disclosure items and news incidents are medium-strength (10-K risk language and press reports) that warrant monitoring rather than being direct counter-evidence to the documented earnings rebound.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.44
29 surviving claims rest on 9 distinct sources; the heaviest analyst carries 31% of them, and 98% of what the desk raised survived the debate.
The read rests on a moderate breadth of sources but a relatively small set of distinct documents; because one analyst contributed nearly a third of surviving claims and almost all desk observations survived the internal debate, the bundle is informative but carries concentration risk — a few inputs could shift the overall picture. Survival rate suggests claims were durable through review, yet source concentration and analyst dependence mean this synthesis should be weighted cautiously when used as a standalone signal.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.8 to the score
4 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.8 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis−0.7 to the score
5 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on DAL Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.