Delta Air Lines [DAL] vs United Airlines [UAL] Detailed Stock Comparison

Delta Air Lines Inc.

NYSE
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United Airlines Holdings Inc.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 21 vital metrics comparison: Delta Air Lines Inc. wins in 13 metrics, United Airlines Holdings Inc. wins in 7 metrics, with 0 ties. Delta Air Lines Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Delta Air Lines Inc. United Airlines Holdings Inc. Better
P/E Ratio (TTM) 8.26 9.52 Delta Air Lines Inc.
Price-to-Book Ratio 2.02 2.06 Delta Air Lines Inc.
Debt-to-Equity Ratio 117.30 203.09 Delta Air Lines Inc.
PEG Ratio 0.82 1.28 Delta Air Lines Inc.
EV/EBITDA 7.02 6.48 United Airlines Holdings Inc.
Profit Margin (TTM) 7.36% 5.68% Delta Air Lines Inc.
Operating Margin (TTM) 9.92% 9.14% Delta Air Lines Inc.
EBITDA Margin (TTM) 9.92% 9.14% Delta Air Lines Inc.
Return on Equity 28.51% 23.99% Delta Air Lines Inc.
Return on Assets (TTM) 4.75% 4.23% Delta Air Lines Inc.
Free Cash Flow (TTM) $2.89B $2.56B Delta Air Lines Inc.
Dividend Yield 1.10% N/A N/A
1-Year Return 76.57% 56.11% Delta Air Lines Inc.
Price-to-Sales Ratio (TTM) 0.61 0.53 United Airlines Holdings Inc.
Enterprise Value $56.28B $50.21B Delta Air Lines Inc.
EV/Revenue Ratio 0.89 0.85 United Airlines Holdings Inc.
Gross Profit Margin (TTM) 26.78% 29.27% United Airlines Holdings Inc.
Revenue per Share (TTM) $97 $182 United Airlines Holdings Inc.
Earnings per Share (Diluted) $7.09 $10.20 United Airlines Holdings Inc.
Beta (Stock Volatility) 1.39 1.29 United Airlines Holdings Inc.
Short % of Float 2.97% 4.74% Delta Air Lines Inc.

Delta Air Lines Inc. vs United Airlines Holdings Inc. Stock Performance Analysis

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DAL
UAL

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Delta Air Lines Inc.1.22%7.49%19.71%38.18%17.96%21.73%
United Airlines Holdings Inc.3.85%13.91%29.21%32.89%11.39%6.16%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Delta Air Lines Inc.76.57%94.11%84.74%118.52%767.01%297.23%
United Airlines Holdings Inc.56.11%115.93%110.34%171.05%380.53%266.96%

Performance & Financial Health Analysis: Delta Air Lines Inc. vs United Airlines Holdings Inc.

MetricDALUAL
Market Information
Market Cap i$38.24B$31.53B
Market Cap CategoryLarge capLarge cap
10 Day Avg. Volume i7,347,4208,672,843
90 Day Avg. Volume i7,976,1838,538,158
Last Close$84.07$119.97
52 Week Range$45.28 - $87.38$71.55 - $124.79
% from 52W High-3.79%-3.86%
All-Time High$87.38 (Jun 15, 2026)$124.79 (Jun 15, 2026)
% from All-Time High-3.79%-3.86%
Growth Metrics
Quarterly Revenue Growth0.06%0.05%
Quarterly Earnings Growth0.11%0.06%
Financial Health
Profit Margin (TTM) i0.07%0.06%
Operating Margin (TTM) i0.10%0.09%
Return on Equity (TTM) i0.29%0.24%
Debt to Equity (MRQ) i117.30203.09
Cash & Liquidity
Book Value per Share (MRQ)$29.02$47.24
Cash per Share (MRQ)$5.85$37.84
Operating Cash Flow (TTM) i$7.98B$8.43B
Levered Free Cash Flow (TTM) i$2.06B$1.10B
Dividends
Last 12-Month Dividend Yield i1.10%N/A
Last 12-Month Dividend i$0.72$0.00

Valuation & Enterprise Metrics Analysis: Delta Air Lines Inc. vs United Airlines Holdings Inc.

MetricDAL (Nov 23, 2025)UAL (Apr 22, 2026)
Price Ratios
P/E Ratio (TTM) i8.269.52
Forward P/E i8.346.78
PEG Ratio i0.821.28
Price to Sales (TTM) i0.610.53
Price to Book (MRQ) i2.022.06
Market Capitalization
Market Capitalization i$38.24B$31.53B
Enterprise Value i$56.28B$50.21B
Enterprise Value Metrics
Enterprise to Revenue i0.890.85
Enterprise to EBITDA i7.026.48
Risk & Other Metrics
Beta i1.391.29
Book Value per Share (MRQ) i$29.02$47.24

Financial Statements Comparison: Delta Air Lines Inc. vs United Airlines Holdings Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricDAL (2024)UAL (2025)
Revenue/Sales i61.64B59.07B
Cost of Goods Sold i45.09B42.07B
COGS % of Revenue i73.1%71.2%
Gross Profit i16.56B17.00B
Gross Margin i26.9%28.8%
Research & Development iN/AN/A
Operating Income (EBIT) i6.00B4.97B
Operating Margin i9.7%8.4%
EBITDA i8.28B8.67B
EBITDA Margin i13.4%14.7%
Pre-Tax Income i4.66B4.31B
Pre-Tax Income % of Revenue i7.6%7.3%
Income Tax i1.20B953.00M
Income Tax % of Revenue i1.9%1.6%
Net Income (Profit) i3.46B3.35B
Profit Margin i5.6%5.7%

Balance Sheet & Liquidity Metrics

MetricDAL (2024)UAL (2025)
Cash & Equivalents i3.07B5.94B
Total Current Assets i9.84B16.86B
Total Current Assets % of Revenue i16.0%28.5%
Total Current Liabilities i26.67B26.13B
Total Current Liabilities % of Revenue i43.3%44.2%
Long-Term Debt i19.83B25.98B
Long-Term Debt % of Revenue i32.2%44.0%
Total Shareholders Equity i15.29B15.28B
Retained Earnings i8.78B10.09B
Retained Earnings % of Revenue i14.2%17.1%
Property, Plant & Equipment i17.34B18.16B

Cash Flow Statement Comparison

MetricDAL (2024)UAL (2025)
Operating Cash Flow i7.63B8.70B
Operating Cash Flow % of Revenue i12.4%14.7%
Capital Expenditures i-5.14B98.00M
Free Cash Flow i2.89B2.56B
FCF Margin i4.7%4.3%
Debt Repayment i-3.95B-4.77B
Common Stock Repurchase iN/A-637.00M

Short Interest & Institutional Ownership Analysis

MetricDALUAL
Shares Short i17.19M15.26M
Short Ratio i1.821.83
Short % of Float i2.97%4.74%
Shares Outstanding i652.96M323.47M
Float Shares i645.23M320.60M
% Held by Insiders i0.33%0.63%
% Held by Institutions i82.89%90.48%
% Held by Public i16.78%8.89%

Dividend Analysis & Yield Comparison: Delta Air Lines Inc. vs United Airlines Holdings Inc.

MetricDALUAL
Last 12-Month Dividend i$0.72$0.00
Last 12-Month Dividend Yield i1.10%N/A
3-Year Avg Annual Dividend i$0.52$0.00
3-Year Avg Dividend Yield i0.28%N/A
3-Year Total Dividends i$1.57$0.00
Ex-Dividend DateFeb 26, 2026N/A