What is the 13F Pro Quality Score for DAL?

13F Pro ranks DELTA AIR LINES, INC. (DAL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View DAL's current score at https://13fpro.ai/company/DAL (free sign-up required for the full ranking).

Which hedge funds own the most DAL stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of DAL include BERKSHIRE HATHAWAY, BlackRock,, VANGUARD CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/DAL as soon as new 13F filings post.

Where does 13F Pro source DAL data?

All DELTA AIR LINES, INC. fundamentals and ownership data come directly from SEC EDGAR. DELTA AIR LINES, INC. files with the SEC under CIK 27904. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is DAL in?

DELTA AIR LINES, INC. (DAL) is classified in the Industrials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/industrials.

What drives DAL's revenue?

Per DELTA AIR LINES, INC.'s latest 10-Q filed with the SEC on 2026-07-10, the biggest revenue drivers are: Passenger ($15.6B, +13% YoY); Other ($3.9B, +50% YoY); Refinery ($2,091M, +83% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/DAL.

What are DAL's largest expenses?

DELTA AIR LINES, INC.'s latest 10-Q reports these as the largest expense items: Aircraft fuel and related taxes ($4,109M, +67% YoY); Salaries and related costs ($4,762M, +8% YoY); Refinery expense ($2,091M, +83% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is DAL research updated on 13F Pro?

DAL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

DELTA AIR LINES, INC.(DAL)Stock Analysis

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13F Pro Quality Score

57.5/100

Rank #1,088 of 2,961 stocksTOP 50%

View Industrials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

44.2/100

Profitability

47.4/100

Balance Sheet

69.1/100

Earnings Quality

71.9/100

Free Cash Flow

43.4/100

Institutional Flow

18.3/100

Revenue Scale

97.8/100

Dilution Risk

75.4/100

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Why DAL Scores 58/100

exact factor attribution · 2026-09-11

DAL's composite is driven by scale and earnings quality, held back by institutional flow and revenue growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Scale

+7.2 pts

98th pct

Earnings quality

+2.2 pts

72th pct

Capital efficiency

+1.9 pts

69th pct

Shareholder dilution

+1.3 pts

75th pct

Profitability

-0.4 pts

47th pct

Earnings growth

-0.9 pts

32th pct

Free cash flow

-1.0 pts

43th pct

Revenue growth

-1.2 pts

44th pct

Institutional flow

-1.6 pts

18th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

DAL Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for DELTA AIR LINES, INC. (DAL), a Industrials sector company. 13F Pro's AI-powered ranking engine scores DAL at 57.5/100 on a 32-signal composite quality model, placing it at rank #1,088 of 2,961 stocks — the top half of the AI-ranked universe. DAL scores in the top quartile across revenue scale (97.8). Areas of concern include institutional flow (18.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), DELTA AIR LINES, INC. reports quarterly revenue of $19.8B, net income of $1.6B, an operating margin of 9.4%. Top institutional holders of DAL by reported 13-F value include BERKSHIRE HATHAWAY, BlackRock, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. DAL trades on the NYSE exchange and files with the SEC under CIK 27904. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DAL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for DELTA AIR LINES, INC. directly from SEC EDGAR. DELTA AIR LINES, INC.'s 13F Pro composite quality score has ranged between 23 and 76 since 2021, currently 57.5 — an improving long-term trajectory across 67 quarterly and live scoring snapshots.

What's Driving DAL's Business? Latest 10-Q Breakdown

✓ 39/39 datapoints verified

AI-extracted from DELTA AIR LINES, INC.'s 10-Q filed 2026-07-10 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Delta's Q2 FY2026 revenue rose 19% YoY to $19.8B, but operating income fell $238M to $1.9B as an 80% jump in jet fuel prices drove operating expense up 23%.

Biggest Revenue Drivers

Passenger$15.6B+13% YoY

Higher pricing in response to the rapid increase in fuel costs and broad based demand strength across premium, main, corporate and loyalty

Other$3.9B+50% YoY

Driven by higher refinery sales to third parties and growth in cargo and MRO businesses

Biggest Revenue Drivers

Total revenue: $19.8B+19% YoY

Passenger$15.6B+13% YoY

Higher pricing in response to the rapid increase in fuel costs and broad based demand strength across premium, main, corporate and loyalty

Other$3.9B+50% YoY

Driven by higher refinery sales to third parties and growth in cargo and MRO businesses

Within Other

Refinery$2,091M+83% YoY

Higher market prices for refined products and a shift to more sales than exchanges as exchange agreements ended in second half of 2025

Loyalty and related$1,344M+19% YoY

Higher customer spend on American Express cards and new card acquisitions from a refreshed co-brand credit card portfolio

Cargo$294M+39% YoY

Driven largely by volume

Largest Expense Items

Aircraft fuel and related taxes$4,109M+67% YoY

80% increase in average jet fuel purchase price and higher consumption consistent with 1% capacity growth

Salaries and related costs$4,762M+8% YoY

4% base pay increases for eligible employees effective June 1, 2026 and 2025, and for pilots effective January 1, 2026

Refinery expense$2,091M+83% YoY

Expenses associated with refinery sales to third parties

Contracted services$1,263M+9% YoY

Margins: Operating income fell $238M to $1.9B as total operating expense grew 23% versus 19% revenue growth; total CASM rose 21% while non-fuel CASM-Ex rose a more modest 6.8%, with the gap driven primarily by fuel and refinery costs.

Watch Items from the Filing

Aircraft fuel and related taxes rose 67% YoY on an 80% increase in average jet fuel purchase price; the filing says elevated fuel costs are expected to persist until recent market disruptions and geopolitical events resolve.
Non-operating income fell to $145M from $472M YoY, primarily due to lower mark-to-market gains on equity investments ($349M gain vs $735M prior year).
The refinery posted $351M operating income (vs -$10M loss a year ago), but results were partially offset by a temporary outage that halted production beginning mid-June 2026.
Future aircraft purchase commitments total approximately $27.6 billion, including new agreements for 30 Boeing 787-10s and 31 Airbus widebody aircraft signed in Q1 2026.
Remuneration from American Express was $2.4 billion in the quarter ($4.5B YTD, +13% YoY), underscoring Delta's reliance on its co-brand credit card partnership for loyalty revenue.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$19.8B

Net Income

Q2 2026

$1.6B

Operating Margin

Q2 2026

9.4%

ROIC

Q2 2026

18.2%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+2.8% YoY

$63.36BFY 2025

FY22 $50.58BFY23 $58.05BFY24 $61.64BFY25 $63.36B

Net Income

+44.8% YoY

$5.00BFY 2025

FY22 $1.32BFY23 $4.61BFY24 $3.46BFY25 $5.00B

Operating Income

-2.9% YoY

$5.82BFY 2025

FY22 $3.66BFY23 $5.52BFY24 $6.00BFY25 $5.82B

EPS (Diluted)

+43.7% YoY

$7.66FY 2025

FY22 $2.06FY23 $7.17FY24 $5.33FY25 $7.66

Total Assets

+7.9% YoY

$81.32BFY 2025

FY22 $72.29BFY23 $73.64BFY24 $75.37BFY25 $81.32B

Total Debt

-15.7% YoY

$16.29BFY 2025

FY22 $25.80BFY23 $24.22BFY24 $19.32BFY25 $16.29B

Op. Cash Flow

+4.0% YoY

$8.34BFY 2025

FY22 $6.36BFY23 $6.46BFY24 $8.03BFY25 $8.34B

Free Cash Flow

+33.2% YoY

$3.84BFY 2025

FY22 $-3.0MFY23 $1.14BFY24 $2.88BFY25 $3.84B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$63.36B +2.8%	$61.64B +6.2%	$58.05B +14.8%	$50.58B +69.2%	$29.90B +74.9%	$17.09B
Net Income	$5.00B +44.8%	$3.46B -25.0%	$4.61B +249.7%	$1.32B +370.7%	$280.0M +102.3%	$-12.38B
Operating Income	$5.82B -2.9%	$6.00B +8.6%	$5.52B +50.8%	$3.66B +94.1%	$1.89B +115.1%	$-12.47B
EPS (Diluted)	$7.66 +43.7%	$5.33 -25.7%	$7.17 +248.1%	$2.06 +368.2%	$0.44 +102.3%	$-19.49
Total Assets	$81.32B +7.9%	$75.37B +2.3%	$73.64B +1.9%	$72.29B -0.2%	$72.46B +0.6%	$72.00B
Total Debt	$16.29B -15.7%	$19.32B -20.2%	$24.22B -6.1%	$25.80B -9.2%	$28.42B +1.6%	$27.97B
Operating Cash Flow	$8.34B +4.0%	$8.03B +24.1%	$6.46B +1.6%	$6.36B +94.9%	$3.26B +186.1%	$-3.79B
Free Cash Flow	$3.84B +33.2%	$2.88B +152.8%	$1.14B +38133.3%	$-3.0M -117.6%	$17.0M +100.3%	$-5.69B

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Available Research

13F Pro tracks comprehensive data for DELTA AIR LINES, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of DAL

BERKSHIRE HATHAWAY INC
$5.4B57,320,000 sh
BlackRock, Inc.
$4.2B45,106,139 sh
VANGUARD CAPITAL MANAGEMENT LLC
$3.9B41,307,000 sh
FMR LLC
$3.1B33,187,319 sh
Sanders Capital, LLC
$2.7B29,129,629 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$2.5B26,329,259 sh
STATE STREET CORP
$2.3B24,129,558 sh
Capital International Investors
$1.9B20,689,945 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.8B18,511,900 sh
PRIMECAP MANAGEMENT CO/CA/
$1.6B17,521,167 sh

Fund	Value	Shares
BERKSHIRE HATHAWAY INC	$5.4B	57,320,000
BlackRock, Inc.	$4.2B	45,106,139
VANGUARD CAPITAL MANAGEMENT LLC	$3.9B	41,307,000
FMR LLC	$3.1B	33,187,319
Sanders Capital, LLC	$2.7B	29,129,629
VANGUARD PORTFOLIO MANAGEMENT LLC	$2.5B	26,329,259
STATE STREET CORP	$2.3B	24,129,558
Capital International Investors	$1.9B	20,689,945
GEODE CAPITAL MANAGEMENT, LLC	$1.8B	18,511,900
PRIMECAP MANAGEMENT CO/CA/	$1.6B	17,521,167

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Is DAL a good stock to buy?

13F Pro's AI-powered analysis of DELTA AIR LINES, INC. (DAL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for DAL are available on the DAL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. DAL is classified as a large company.

Which hedge funds own DAL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling DAL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of DELTA AIR LINES, INC.'s investment landscape.