DALDelta Air Lines
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain. Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Insiders were net sellers (-$29.8M, 90 days to Oct 9, 2026), selling is often routine.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -69% · now 12% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can DAL take a bad year?
Delta Air Lines carries $8.32B of net debt at 1.06× EBITDA: a load its earnings can carry.
Net debt · as at Q3 2026 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 1.06×
Net debt / EBITDA · 1.22× a year ago · the load is coming down
- Altman Z-score
- 1.59
Altman Z-score · distress zone, below 1.8
- Debt / equity
- 0.54×
Debt / equity
Details›
- Total debtQ3 2026
- $12.1B
- Cash and short-term investments
- $3.79B
- Net debt
- $8.32B
- EBITDA, trailing twelve months
- $7.87B
- Operating profit, trailing twelve months
- $5.29B
- Debt / equity
- 0.54×
- Total debt / EBITDA
- 1.54×
- Annualised volatilitytwo years of daily moves
- 45%
- Worst drawdown on file
- −69%
- Below its 52-week high
- 12%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Airlines
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