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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Delta Air Lines (DAL) Debt Ratio (2009 - 2026)

Delta Air Lines posted quarterly Debt Ratio of 0.17 for Q1 2026, down 18.01% year-on-year from 0.2 in Q1 2025, and down 3.33% on a QoQ basis from 0.17 in Q4 2025.

Delta Air Lines (DAL) has 18 years of Debt Ratio data on file, last reported at 0.17 in Q1 2026.

  • For the quarter ending Q1 2026, Debt Ratio fell 18.01% year-over-year to 0.17; the trailing twelve-month figure through Mar 2026 stood at 0.17 (down 18.01% YoY), and the FY2025 full-year result was 0.17, down 19.23% from the prior year.
  • Debt Ratio for Q1 2026 stood at 0.17, down from 0.17 in the prior quarter.
  • Across five years, Debt Ratio topped out at 0.35 in Q1 2022 and bottomed at 0.17 in Q1 2026.
  • The 5-year median for Debt Ratio is 0.26 (2024), against an average of 0.25.
  • The widest annual swing landed in 2022, when Debt Ratio retreated 11.85%; it then fell 21.1% in 2024.
  • A 5-year view of Debt Ratio shows it stood at 0.32 in 2022, then retreated by 14.53% to 0.27 in 2023, then dropped by 21.1% to 0.21 in 2024, then declined by 19.23% to 0.17 in 2025, then dropped by 3.33% to 0.17 in 2026.
  • The last three Debt Ratio figures came in at 0.17 (Q1 2026), 0.17 (Q4 2025), and 0.19 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Delta Air Lines 53.78 Bn 48.72 Bn 15.19 Bn 0.17
2 Southwest Airlines 21.39 Bn 18.06 Bn 6.21 Bn 0.18
3 Grupo Aeromexico, S.A.B. de C.V 18.50 Bn 17.47 Bn -239.00 Mn 0.49
4 Controladora Vuela Compania de Aviacion, S.A.B. de C.V 8.98 Bn 8.98 Bn - 0.07
5 Alaska Air 5.26 Bn 3.49 Bn 3.20 Bn 0.26
6 Skywest 3.43 Bn 2.80 Bn 924.11 Mn 0.33
7 Copa Holdings 3.33 Bn 1.99 Bn 713.71 Mn 0.30
8 Jetblue Airways 2.03 Bn -140.72 Mn 1.87 Bn 0.51
9 Allegiant Travel 1.67 Bn 765.78 Mn 651.87 Mn 0.41
10 Frontier Group Holdings 1.39 Bn 618.26 Mn 724.00 Mn 0.08

Historic Data

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DateValue
Mar 31, 2026 0.17
Dec 31, 2025 0.17
Sep 30, 2025 0.19
Jun 30, 2025 0.19
Mar 31, 2025 0.20
Dec 31, 2024 0.21
Sep 30, 2024 0.23
Jun 30, 2024 0.24
Mar 31, 2024 0.26
Dec 31, 2023 0.27
Sep 30, 2023 0.27
Jun 30, 2023 0.27
Mar 31, 2023 0.30
Dec 31, 2022 0.32
Sep 30, 2022 0.32
Jun 30, 2022 0.33
Mar 31, 2022 0.35
Dec 31, 2021 0.37
Sep 30, 2021 0.38
Jun 30, 2021 0.38
Mar 31, 2021 0.39
Dec 31, 2020 0.40
Sep 30, 2020 0.38
Jun 30, 2020 0.27
Mar 31, 2020 0.18
Dec 31, 2019 0.17
Sep 30, 2019 0.16
Jun 30, 2019 0.16
Mar 31, 2019 0.17
Dec 31, 2018 0.16
Sep 30, 2018 0.16
Jun 30, 2018 0.16
Mar 31, 2018 0.15
Dec 31, 2017 0.16
Sep 30, 2017 0.17
Jun 30, 2017 0.17
Mar 31, 2017 0.18
Dec 31, 2016 0.14
Sep 30, 2016 0.14
Jun 30, 2016 0.15
Mar 31, 2016 0.16
Dec 31, 2015 0.18
Sep 30, 2015 0.17
Jun 30, 2015 0.18
Mar 31, 2015 0.20
Dec 31, 2014 0.21
Sep 30, 2014 0.20
Jun 30, 2014 0.20
Mar 31, 2014 0.21
Dec 31, 2013 0.22
Sep 30, 2013 0.26
Jun 30, 2013 0.27
Mar 31, 2013 0.27
Dec 31, 2012 0.29
Sep 30, 2012 0.29
Jun 30, 2012 0.29
Mar 31, 2012 0.30
Dec 31, 2011 0.32
Sep 30, 2011 0.34
Jun 30, 2011 0.33
Mar 31, 2011 0.35
Dec 31, 2010 0.35
Sep 30, 2010 0.36
Jun 30, 2010 0.36
Dec 31, 2009 0.39