An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.
In plain words · Delta Air Lines, Inc.
VERDICT
The label
Markdown
read at $86.67
Delta Air Lines holds its Markdown at $86.67.
PHPhase · the trend structure carries the Markdown label
INInsiders · no filings inside 60 days, left as found
POPositioning · no disclosures inside 60 days, left as found
OPOptions · no verdict drawn today, left as found
SCScreen · passes the values gate
edge confirmed
edge broken
edge forming
Each arm is one independent read. Conviction is not a single call, it is how many edges converge.
INVESTOR
The investor read · the season, not the day
As held on the ledger · 2026-07-27
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 3 days
Price
$86.67
Valuation
14.37 trailing · 9.79 forward price to earnings
Values screen
PASS· score 86.4
Beta
1.29
OPPORTUNITY
The opportunity · what the numbers say it is worth
Our framework reads OPPORTUNITY — it trades at roughly a 4% discount to our $89.92 fair value, narrow competitive moat, 18.70% revenue growth.
Read at
$86.67
14.37 P/E · 9.79 fwd
Our fair value
$89.92
4% discount
Analyst target (avg)
$105.00
+21% to current
Target low $50.00Analyst target rangeTarget high $125.00
▲ current $86.67 · | average target
Price history & projections · where it has been, where the models see it going
The valuation journey · where the price sits against fair value and the Street
Current
$86.67
you are here
Conservative
$56.13
-35%
Analyst avg
$105.00
+21%
Our fair value
$89.92
+4%
Analyst high
$125.00
+44%
Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Revenue growth
18.70%
Profit margin
5.78%
Debt to equity
96.65
Analyst consensus
Strong Buy · 24 covering
Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.
SCREEN
The values screen, explained · five checks, plain English
It depends which standard you follow. There are two widely recognised ways to check whether a company is suitable for a Muslim investor, and on this company they disagree. Here is how it did on each:
The common standard· AAOIFI Used by most halal investing apps✗ DOES NOT PASS
Our stricter standard· asset-based The one Titan applies✓ PASSES
Why the two disagree. They fall out over one thing only: the company’s debt. Our stricter standard measures that debt against what the company owns, and it works out too high to pass. The common standard measures the same debt against what the company is worth on the stock market, where it works out low enough to pass. Every other check, the two agree on. So in practice, most halal apps would treat this as fine to hold, while our stricter view would not — and which line you follow is between you and your scholar.
Business activityIts core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending.Pass
Debt loadInterest-bearing debt is just 24.9% of its assets, well under the one-third ceiling — it does not run on borrowed money. Against market value it is 38.7%, under the 30% line the market-value standard uses — so that standard clears it.Divergent
Interest-bearing cashCash held in interest-bearing accounts and securities is 5.2% of assets, under the one-third limit.Pass
ReceivablesMoney owed to the company is 8.8% of assets, under the 49% limit.Pass
Revenue purityOnly 0.0% of revenue comes from non-compliant sources — under the 5% line.Pass
Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.
PLAIN
The business, in plain words · what the numbers mean
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.
Screened names in the same industry · explore each on its own page.
TRADE
Where & how to trade · wherever in the world you are
DAL trades on a US exchange. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.
TRADER
The trader read · the latest dated commentary
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. Entered 2026-07-26 · Accumulation
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.
