DAL
Delta Air Lines, Inc.
DAL has lower modeled downside risk, despite its lower overall score.
RDW
Redwire Corporation
RDW has the edge over DAL overall, supported by stronger valuation and stronger modeled upside.
DAL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Healthy |
DAL's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
DAL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.5x | $32.27 | -63% |
| Fair | 8.8x | $44.24 | -49% |
| Forward | 13x | $86.55 | — |
| Current | 17x | $86.55 | — |
| Expensive | 32x | $161 | +86% |
Historical ranges are pointers, not guarantees.
DAL's PE is in its expensive range at 17x. If earnings grow as analysts expect, today's price would be 13x next year's earnings.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
DAL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for DAL, with profitability improving. However, they disagree widely on these estimates.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
DAL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.50 | +30% |
| Q3 2026 | $5.00 | -30% |
| Q2 2026 | $6.02 | -13% |
| Q1 2026 | $6.85 | +21% |
| Q4 2025 | $7.66 | +44% |
| Q3 2025 | $7.10 | -1.7% |
| Q2 2025 | $6.90 | -1% |
| Q1 2025 | $5.64 | -28% |
| Q4 2024 | $5.33 | -26% |
DAL has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
DAL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.2B | +21% |
| Q2 2026 | $19.8B | +19% |
| Q1 2026 | $15.9B | +13% |
| Q4 2025 | $16B | +2.9% |
| Q3 2025 | $16.7B | +6.4% |
| Q2 2025 | $16.6B | -0.1% |
| Q1 2025 | $14B | +2.1% |
| Q4 2024 | $15.6B | +9.4% |
DAL's revenue has grown year over year for five quarters in a row: $20.2B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.2% | -2.9 points |
| Q2 2026 | 9.4% | -3.2 points |
| Q1 2026 | 3.2% | -0.9 points |
| Q4 2025 | 9.2% | -1.9 points |
| Q3 2025 | 10% | +1.2 points |
| Q2 2025 | 13% | -1 points |
| Q1 2025 | 4% | -0.4 points |
| Q4 2024 | 11% | +1.8 points |
DAL has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW's revenue has grown year over year for five quarters in a row: $109M last quarter, up 5.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
DAL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +149% |
| Q2 2026 | $1.6B | +146% |
| Q1 2026 | $1.2B | +6.8% |
| Q4 2025 | $1.4B | +132% |
| Q3 2025 | $687M | +$741M |
| Q2 2025 | $648M | -43% |
| Q1 2025 | $1.2B | -5% |
| Q4 2024 | $584M | +$1.6B |
DAL has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
DAL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +1M shares |
| 1 year | +0.8% | +5M shares |
| 3 years | +2.3% | +15M shares |
| 5 years | +2.8% | +18M shares |
| Available history | +0.9% | +6M shares |
DAL has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $344M |
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
DAL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.1x | Healthy |
| Q2 2026 | 1.0x | Healthy |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 1.3x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
DAL's net debt is about 1.1 years of its operating earnings (EBITDA), down from 1.2 years a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
DAL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.5 | Neutral |
| Stochastic | 53.0 | Neutral |
DAL's weekly RSI is 58 (neutral) and its Stochastic is 53 (neutral).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
DAL PE vs Industrials Sector
| Metric | DAL | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 24x | 28% below |
| PE % | 79 | 58 | 21 pts above |
DAL is trading at 17x earnings, a 28% discount to the Industrials sector's median of 24x.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
DAL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $82.2 | 5.3% above |
| 20 week MA | $83.9 | 3.2% above |
| 50 week MA | $76.2 | 14% above |
| 100 week MA | $65.8 | 32% above |
| 200 week MA | $54.5 | 59% above |
DAL has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
DAL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $59.1 | $39.7 | -33% |
| 2021 | $39.7 | $39.3 | -1.1% |
| 2022 | $39.3 | $33.2 | -16% |
| 2023 | $33.2 | $40.2 | +21% |
| 2024 | $40.2 | $61.3 | +52% |
| 2025 | $61.3 | $70.9 | +16% |
| 2026 YTD | $70.9 | $86.6 | +22% |
DAL has the edge over RDW on returns for 2026, with the stronger performance.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW's yearly returns have swung widely, from +501% in 2024 to −74% in 2022. It's up 12% so far in 2026.