STOCK COMPARISON
Spring Airlines Co vs Delta Air Lines: Fair Value & Quality
Both stocks run through our valuation models. Here is how Spring Airlines Co (601021) and Delta Air Lines (DAL) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: Spring Airlines Co trades at ¥45.67 versus a fair value of ¥37.73 (-17%), while Delta Air Lines trades at $91.34 versus $98.57 (+8%).
Spring Airlines Co
601021.SHG · CNY · Industrials
-17%
upside to fair value
overvalued
Price¥45.67
Fair Value¥37.73
Quality52/100
Delta Air Lines
DAL · USD · Industrials
+8%
upside to fair value
fairly valued
Price$91.34
Fair Value$98.57
Quality48/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Spring Airlines CoDelta Air Lines
Valuation
17.1×P/E (TTM)14.4×
2.04×P/S (TTM)0.81×
2.50×P/B2.67×
8.3×EV/EBITDA8.5×
—PEG39.29×
2.1%Dividend yield0.9%
¥0.96Dividend per share$0.78
Profitability
12%Net margin6%
23%Operating margin8%
14%Return on equity20%
5%Return on assets4%
Growth
14%Revenue growth (YoY)19%
36.9%Avg. growth/yr (3Y)7.8%
18.0%Avg. growth/yr (5Y)30.0%
Balance & size
0.72×Debt / equity0.60×
$7BMarket cap$55B
expensiveGrowth qualityhealthy
Spring Airlines Co leads: 7 to 6 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Spring Airlines Coof which business quality 51 · market factors 39
Delta Air Linesof which business quality 48 · market factors 76
ProfitabilityMargins and returns on capital today
36
52
Quality GrowthAre margins and returns improving?
51
36
CashflowEarnings quality: real cash, not paper profit
55
46
Fin. StrengthBalance sheet, leverage, solvency risk
52
38
InvestmentDisciplined investing over empire-building
46
51
Low VolatilityCalm price path (market factor)
85
42
MomentumPrice trend over the last 3–12 months (market factor)
24
88
52W MomentumDistance to the 52-week high (market factor)
13
96
Net IssuanceBuybacks instead of dilution
70
74
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Spring Airlines Co
DCF Models¥37.11
Earnings-Based¥31.43
Multiples¥45.01
Asset-Based¥12.44
Growth DCF¥19.32
Economic Profit¥30.60
Growth Earnings¥47.81
15 of 23 models see the stock below the current price.
Delta Air Lines
DCF Models$117
Earnings-Based$60.01
Dividend Discount$11.58
Multiples$134
Asset-Based$21.14
Growth DCF$99.27
Economic Profit$77.60
Growth Earnings$144
10 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Spring Airlines Co
Bear ¥22.00Fair Value ¥37.73Bull ¥62.18
¥45.67 = current price (white tick)
Delta Air Lines
Bear $55.99Fair Value $98.57Bull $136
$91.34 = current price (white tick)
Compare two other stocks
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Spring Airlines Co · Industrials
Quality score52 · below median
Fair value upside-17% · above median
Delta Air Lines · Industrials
Quality score48 · below median
Fair value upside+8% · above median
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: Spring Airlines Co trades at ¥45.67 versus a fair value of ¥37.73 (-17%), while Delta Air Lines trades at $91.34 versus $98.57 (+8%).
Spring Airlines Co has the higher quality score (52/100).
See the full analysis →
More comparisons
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
