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STOCK COMPARISON

China Southern Airlines Co Ltd Class A vs Delta Air Lines: Fair Value & Quality

Both stocks run through our valuation models. Here is how China Southern Airlines Co Ltd Class A (600029) and Delta Air Lines (DAL) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: China Southern Airlines Co Ltd Class A trades at ¥5.03 versus a fair value of ¥1.59 (-68%), while Delta Air Lines trades at $78.75 versus $96.56 (+23%).
China Southern Airlines Co Ltd Class A
600029.SHG · CNY · Industrials
-68%
upside to fair value
overvalued
Price¥5.03
Fair Value¥1.59
Quality48/100
Delta Air Lines
DAL · USD · Industrials
+23%
upside to fair value
undervalued
Price$78.75
Fair Value$96.56
Quality48/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

China Southern Airlines Co Ltd Class ADelta Air Lines
Valuation
29.5×P/E (TTM)14.4×
0.49×P/S (TTM)0.81×
2.55×P/B2.67×
5.3×EV/EBITDA8.5×
1.09×PEG39.29×
−68.5%Fair value upside+22.6%
6.1%Dividend yield1.0%
—Dividend per share$0.78
Profitability
6%Operating margin8%
10%Return on equity20%
2%Return on assets4%
Growth
10%Revenue growth (YoY)19%
27.9%Avg. growth/yr (3Y)7.8%
14.5%Avg. growth/yr (5Y)30.0%
−20.1%Value creation/yr+15.6%
Balance & size
1.6×Interest coverage (EBIT/interest)8.6×
1.36×Debt / equity0.60×
$14BMarket cap$55B
mixedGrowth qualityhealthy

Delta Air Lines leads: 6 to 9 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.

China Southern Airlines Co Ltd Class Aof which business quality 46 · market factors 37 Delta Air Linesof which business quality 48 · market factors 60
ProfitabilityMargins and returns on capital today
20
52
Quality GrowthAre margins and returns improving?
52
36
CashflowEarnings quality: real cash, not paper profit
65
46
Fin. StrengthBalance sheet, leverage, solvency risk
5
38
InvestmentDisciplined investing over empire-building
79
51
Low VolatilityCalm price path (market factor)
81
43
MomentumPrice trend over the last 3–12 months (market factor)
24
69
52W MomentumDistance to the 52-week high (market factor)
10
65
Net IssuanceBuybacks instead of dilution
83
74

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyChina Southern Airlines Co Ltd Class APrice ¥5.03Delta Air LinesPrice $78.75
DCF Models+159%above the price¥13.03+48%above the price$117
Earnings-Based-83%below the price¥0.87-24%below the price$60.01
Dividend Discount+12%close to the price¥5.64-85%below the price$11.58
Multiples-44%below the price¥2.80+70%above the price$134
Asset-Based-74%below the price¥1.32-73%below the price$21.14
Growth DCF+204%above the price¥15.31+26%above the price$99.27
Economic Profit-51%below the price¥2.45-1%close to the price$77.60
Growth Earnings-84%below the price¥0.80+83%above the price$144
Minimum-84%below the price¥0.80-85%below the price$11.58
Maximum+204%above the price¥15.31+83%above the price$144
Median-48%below the price¥2.62+12%close to the price$88.44
Geometric mean-40%below the price¥3.03-20%below the price$63.20

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

China Southern Airlines Co Ltd Class A: 13 of 26 models see the stock below the current price.

Delta Air Lines: 8 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.

China Southern Airlines Co Ltd Class A
Bear ¥0.92Fair Value ¥1.59Bull ¥1.59
¥5.03 = current price (white tick)
Delta Air Lines
Bear $54.89Fair Value $96.56Bull $136
$78.75 = current price (white tick)

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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.

China Southern Airlines Co Ltd Class A · Industrials

Quality score48 · below median
Fair value upside-68% · bottom 25%

Delta Air Lines · Industrials

Quality score48 · below median
Fair value upside+23% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: China Southern Airlines Co Ltd Class A trades at ¥5.03 versus a fair value of ¥1.59 (-68%), while Delta Air Lines trades at $78.75 versus $96.56 (+23%).

Delta Air Lines has the higher quality score (48/100).

See the full analysis →
China Southern Airlines Co Ltd Class A · Delta Air Lines

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.