Screened 2026-09-08 · the tape above runs as of 21:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Delta Air Lines holds its Markdown at $78.96. Consolidating, no directional conviction, held for 45 days.
As held on the ledger · 2026-09-08
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 45 days
Price at the screen
$78.96
Valuation
13.09 trailing · 9.08 forward price to earnings
Values screen
PASS· score 86.4
Beta
1.29
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
24.93%
Below 33%
Interest-bearing debt is just 24.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
5.19%
Below 33%
Cash held in interest-bearing accounts and securities is 5.2% of assets, under the one-third limit.
Pass
Receivables
8.81%
Below 49%
Money owed to the company is 8.8% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OPPORTUNITY: it trades at roughly a 13% discount to our $89.23 fair value, narrow competitive moat, 18.70% revenue growth.
Fair value range in USD, drawn from the 2026-09-08 screen. The gold marker is the market price at the same screen. A 13.0% margin of safety to the base estimate.
Third-party analyst targets: 24 covering, consensus Strong Buy. The average target sits +33% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-08 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cheap airline multiples often hide the cycle peak
Picture a full flight pushing back from Atlanta on a Friday evening. Delta carries more passengers than most rivals and the latest figures show revenue up 19 percent with return on equity at 20 percent.
Those numbers place the shares on a forward multiple of 9.5 times, inside opportunity territory with a narrow moat and a clean ethical pass. The modest margin of safety above the current price looks attractive at first glance.
Airlines remain classic cyclical businesses though. A low multiple here may simply mark peak earnings rather than a bargain, and any drop in travel demand or jump in fuel costs can erase profits quickly.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DAL trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-26Markdown · changed$81.06-3.7%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.7% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (24 analysts) rates it strong buy, with a mean price target of $105.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (25 analysts) rates it strong buy, with a mean price target of $80.
2026-07-18Markup$79.42+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (25 analysts) rates it strong buy, with a mean price target of $80.
2026-07-03Markup$79.42+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$79.42Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
