DAL · Delta Air Lines, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.85B | - | $16.67B | $16.65B | $14.04B | - | $15.68B | $16.66B | $13.75B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $15.35B | - | $14.99B | $14.55B | $13.47B | - | $14.28B | $14.39B | $13.13B | - |
| D&A | $635.00M | - | $614.00M | $602.00M | $607.00M | - | $643.00M | $620.00M | $615.00M | - |
| Operating Income | $501.00M | - | $1.68B | $2.10B | $569.00M | - | $1.40B | $2.27B | $614.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $75.00M | - | $360.00M | $444.00M | $80.00M | - | $289.00M | $468.00M | $85.00M | - |
| Net Income | ($289.00M) | - | $1.42B | $2.13B | $240.00M | - | $1.27B | $1.30B | $37.00M | - |
| EPS - Basic | ($0.44) | - | $2.18 | $3.28 | $0.37 | - | $1.98 | $2.04 | $0.06 | - |
| EPS - Diluted | ($0.44) | - | $2.17 | $3.27 | $0.37 | - | $1.97 | $2.01 | $0.06 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.05B | $4.31B | $3.79B | $3.33B | $3.71B | $3.07B | $3.97B | $4.11B | $3.88B | $2.74B |
| Accounts Receivable | $4.09B | $2.85B | $3.61B | $3.75B | $3.65B | $3.22B | $3.55B | $3.81B | $3.75B | $3.13B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $5.97B | $5.23B | $5.02B | $5.06B | $4.81B | $4.65B | $4.54B | $4.88B | $4.54B | $4.45B |
| Current Assets | $13.66B | $10.97B | $11.23B | $10.98B | $11.24B | $9.84B | $11.06B | $11.59B | $11.58B | $10.27B |
| Total Assets | $84.43B | $81.32B | $79.62B | $78.39B | $77.34B | $75.37B | $75.37B | $75.20B | $74.97B | $73.64B |
| Current Liabilities | $32.70B | $27.62B | $28.25B | $28.55B | $29.70B | $26.67B | $28.12B | $28.76B | $28.48B | $26.42B |
| Long-term Debt | $10.61B | $11.94B | $12.30B | $12.40B | $12.43B | $13.55B | $13.88B | $14.08B | $15.58B | $15.98B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $20.38B | $20.85B | $18.82B | $17.44B | $15.45B | $15.29B | $13.65B | $12.39B | $11.15B | $11.11B |
| Retained Earnings | $12.93B | $13.34B | $12.13B | $10.83B | $8.93B | $8.78B | $7.94B | $6.76B | $5.62B | $5.65B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.43B | - | - | - | $2.38B | - | - | - | $2.41B | - |
| Investing Cash Flow | ($1.26B) | - | - | - | ($1.22B) | - | - | - | ($637.00M) | - |
| Financing Cash Flow | ($435.00M) | - | - | - | ($634.00M) | - | - | - | ($787.00M) | - |
| CapEx | $1.20B | - | $1.16B | $1.21B | $1.22B | - | $1.33B | $1.31B | $1.19B | - |
| Free Cash Flow | $1.23B | - | - | - | $1.15B | - | - | - | $1.22B | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 3.2% | - | 10.1% | 12.6% | 4.1% | - | 8.9% | 13.6% | 4.5% | - |
| EBITDA margin | 7.2% | - | 13.8% | 16.2% | 8.4% | - | 13.0% | 17.3% | 8.9% | - |
| Net margin | -1.8% | - | 8.5% | 12.8% | 1.7% | - | 8.1% | 7.8% | 0.3% | - |
| Free cash flow margin | 7.8% | - | - | - | 8.2% | - | - | - | 8.8% | - |
| FCF / Net income | -4.26 | - | - | - | 4.81 | - | - | - | 32.84 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | 20.3% | 17.2% | 25.0% | - | 18.5% | 26.4% | 69.7% | - |
| Return on assets | -0.3% | - | 1.8% | 2.7% | 0.3% | - | 1.7% | 1.7% | 0.0% | - |
| Return on equity | -1.4% | - | 7.5% | 12.2% | 1.6% | - | 9.3% | 10.5% | 0.3% | - |
| Return on invested capital | 1.3% | - | 4.3% | 5.8% | 1.5% | - | 4.1% | 6.3% | 1.1% | - |
| Liquidity | ||||||||||
| Current ratio | 0.42 | 0.40 | 0.40 | 0.38 | 0.38 | 0.37 | 0.39 | 0.40 | 0.41 | 0.39 |
| Quick ratio | 0.42 | 0.40 | 0.40 | 0.38 | 0.38 | 0.37 | 0.39 | 0.40 | 0.41 | 0.39 |
| Cash ratio | 0.15 | 0.16 | 0.13 | 0.12 | 0.12 | 0.12 | 0.14 | 0.14 | 0.14 | 0.10 |
| Leverage | ||||||||||
| Debt / Equity | 0.52 | 0.57 | 0.65 | 0.71 | 0.80 | 0.89 | 1.02 | 1.14 | 1.40 | 1.44 |
| Debt / Assets | 0.13 | 0.15 | 0.15 | 0.16 | 0.16 | 0.18 | 0.18 | 0.19 | 0.21 | 0.22 |
| Debt / EBITDA | 9.34 | - | 5.35 | 4.59 | 10.57 | - | 6.80 | 4.88 | 12.67 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 4.14 | 3.90 | 4.23 | 4.50 | 5.01 | 4.93 | 5.52 | 6.07 | 6.72 | 6.63 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.19 | - | 0.21 | 0.21 | 0.18 | - | 0.21 | 0.22 | 0.18 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 94d | - | 79d | 82d | 95d | - | 83d | 84d | 100d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 26.2x | 15.0x | 117.8x | - | 25.8x | 23.6x | 797.8x | - |
| P / B | 2.1x | - | 2.0x | 1.8x | 1.8x | - | 2.4x | 2.5x | 2.8x | - |
| P / S | 2.7x | - | 2.2x | 1.9x | 2.0x | - | 2.1x | 1.8x | 2.2x | - |
| EV / EBITDA | 43.0x | - | 19.9x | 15.2x | 31.6x | - | 21.0x | 14.1x | 34.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 12.9% | - | 6.4% | -0.1% | 2.1% | - | 1.2% | 6.9% | 7.8% | - |
| Revenue CAGR (3y) | 7.5% | - | 6.1% | 6.4% | 14.5% | - | 19.6% | 32.7% | 49.1% | - |
| Revenue CAGR (5y) | 30.7% | - | 40.3% | 62.5% | 10.3% | - | 4.5% | 5.9% | 6.6% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -12.0% | - | 20.5% | -7.3% | -7.3% | - | -29.6% | -9.0% | - | - |
| Net income growth (YoY) | - | - | 11.4% | 63.2% | 548.6% | - | 14.8% | -28.6% | - | - |
| EPS growth (YoY) | - | - | 10.2% | 62.7% | 516.7% | - | 14.5% | -29.2% | - | - |
| EPS CAGR (3y) | - | - | 26.2% | 41.7% | - | - | 1.4% | 25.4% | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | -3.1% | -1.9% | -44.0% | - |
| FCF growth (YoY) | 6.8% | - | - | - | -5.0% | - | - | - | -1.6% | - |
| FCF CAGR (5y) | 37.2% | - | - | - | - | - | - | - | 15.5% | - |
| Book value growth (YoY) | 31.9% | 36.4% | 37.9% | 40.8% | 38.5% | 37.7% | 47.9% | 52.9% | 78.1% | 68.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$65.25B totalAirline$58.29B · 89.3%
Refinery$6.96B · 10.7%
Product / service
$124.77B totalPassenger$51.77B · 41.5%
Passenger Air Traffic$45.49B · 36.5%
Product And Service Other$10.70B · 8.6%
Product And Service Other Refinery$5.08B · 4.1%
Passenger Loyalty Travel Awards$4.24B · 3.4%
Product And Service Other Loyalty Program$3.36B · 2.7%
Passenger Travel Related Services$2.04B · 1.6%
Product And Service Other Miscellaneous$1.32B · 1.1%
Product And Service Other Ancillary Businesses$937.00M · 0.8%
Cargo And Freight$900.00M · 0.7%
Product And Service Other MROBusiness$822.00M · 0.7%
Sales Of Refined Products To Third Parties($154.00M) · -0.1%
Exchanged Products($580.00M) · -0.5%
Sales To Airline Segment($1.15B) · -0.9%
Peer comparison
Same SIC group: Air Transportation, Scheduled
Comparing DELTA AIR LINES against the 5 most active filers in the same SIC group.
Dividends
$0.75/share trailing 12 months · +25.3% YoY
| Ex-date | Per share |
|---|---|
| May 14, 2026 | $0.1880 |
| Feb 26, 2026 | $0.1880 |
| Oct 16, 2025 | $0.1880 |
| Jul 31, 2025 | $0.1880 |
| May 13, 2025 | $0.1500 |
| Feb 27, 2025 | $0.1500 |
| Oct 10, 2024 | $0.1500 |
| Jul 30, 2024 | $0.1500 |
| May 13, 2024 | $0.1000 |
| Feb 23, 2024 | $0.1000 |
| Oct 11, 2023 | $0.1000 |
| Jul 14, 2023 | $0.1000 |
| Feb 19, 2020 | $0.4030 |
| Oct 23, 2019 | $0.4030 |
| Jul 24, 2019 | $0.4030 |
| May 1, 2019 | $0.3500 |
| Feb 28, 2019 | $0.3500 |
| Nov 6, 2018 | $0.3500 |
| Jul 25, 2018 | $0.3500 |
| May 10, 2018 | $0.3050 |
| Feb 22, 2018 | $0.3050 |
| Nov 16, 2017 | $0.3050 |
| Aug 21, 2017 | $0.3050 |
| May 17, 2017 | $0.2030 |