Delta Air Lines Inc (DAL)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	13,546,000	13,881,000	14,084,000	15,576,000	15,985,000	16,347,000	16,870,000	18,490,000	19,326,000	19,800,000	21,444,000	22,939,000	23,582,000	24,077,000	25,246,000	24,802,000	26,531,000	28,910,000	18,539,000	11,750,000
Total stockholders’ equity	US$ in thousands	15,293,000	13,646,000	12,386,000	11,151,000	11,105,000	9,226,000	8,100,000	6,260,000	6,582,000	4,590,000	3,811,000	2,991,000	3,887,000	2,606,000	1,281,000	482,000	1,534,000	3,357,000	8,690,000	14,309,000
Debt-to-equity ratio		0.89	1.02	1.14	1.40	1.44	1.77	2.08	2.95	2.94	4.31	5.63	7.67	6.07	9.24	19.71	51.46	17.30	8.61	2.13	0.82

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $13,546,000K ÷ $15,293,000K
= 0.89

Delta Air Lines Inc's debt-to-equity ratio has shown significant fluctuations over the past few years. The ratio stood at 0.82 as of March 31, 2020, indicating a moderate level of debt relative to equity. However, by December 31, 2020, the ratio had surged to 17.30, suggesting a substantial increase in debt compared to equity.

Subsequently, there was a notable decrease in the debt-to-equity ratio, dropping to 2.08 by June 30, 2023. This downward trend continued, with the ratio reaching 0.89 as of December 31, 2024, indicating a lower level of debt in relation to equity compared to previous periods.

Overall, the debt-to-equity ratio for Delta Air Lines Inc has exhibited considerable volatility but has shown a decreasing trend in recent quarters, signifying potential improvements in the company's capital structure and financial leverage.