Is ALK or DAL more undervalued in 2026?

CirclFi compares Alaska Air Group, Inc. (ALK) and Delta Air Lines, Inc. (DAL) using 13 institutional-grade valuation models. ALK has a Quality of Company score of 7.1/10 while DAL scores 8.2/10.

Which is a better buy — ALK or DAL?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ALK and DAL valuations compare?

ALK at $46.59 and DAL at $82.49 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ALK vs DAL Valuation Comparison 2026 — Intrinsic Value Analysis

ALK

Airlines

Alaska Air Group, Inc.

Quality

7.1

out of 10

Value Trap

SAFE

Price

$46.59

Last close

Models

11/13

Active

DAL

Airlines

Delta Air Lines, Inc.

Quality

8.2

out of 10

Value Trap

—

Price

$82.49

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	ALK Fair Value	ALK Upside	DAL Fair Value	DAL Upside
Bayesian DCF	Intrinsic	$120.72	+159.1%	$45.98	-44.3%
Earnings Power Value	Intrinsic	—	—	$9.12	-88.9%
EROIC Spread	Intrinsic	$16.79	-64.0%	$28.20	-65.8%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for ALK vs DAL — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

ALK vs DAL — Which Stock Is More Undervalued?

DAL scores higher with a 8.2/10 quality rating vs ALK's 7.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Alaska Air Group, Inc. (ALK) and Delta Air Lines, Inc. (DAL) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ALK currently trades at $46.59 with a QOC of 7.1/10, while DAL trades at $82.49 with a QOC of 8.2/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).