insiderdelta
CoverageForm 410-K10-Q8-K13D13G13F

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.

Price · DAL

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AnnualQuarterly

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$63.36B$61.64B$58.05B$50.58B$29.90B$17.09B
Cost of Revenue------
Gross Profit------
R&D------
SG&A------
Total Operating Expenses$57.54B$55.65B$52.53B$46.92B$28.01B$29.56B
D&A$2.44B$2.51B$2.34B$2.11B$2.00B$2.31B
Operating Income$5.82B$6.00B$5.52B$3.66B$1.89B($12.47B)
Interest Expense------
Income Tax$1.18B$1.20B$999.00M$596.00M$118.00M($3.20B)
Net Income$5.00B$3.46B$4.61B$1.32B$280.00M($12.38B)
EPS - Basic$7.72$5.39$7.21$2.07$0.44($19.49)
EPS - Diluted$7.66$5.33$7.17$2.06$0.44($19.49)

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$4.31B$3.07B$2.74B$3.27B$7.93B$8.31B
Accounts Receivable$2.85B$3.22B$3.13B$3.18B$2.40B$1.40B
Inventory------
Accounts Payable$5.23B$4.65B$4.45B$5.11B$4.24B$2.84B
Current Assets$10.97B$9.84B$10.27B$13.01B$15.94B$17.40B
Total Assets$81.32B$75.37B$73.64B$72.29B$72.46B$72.00B
Current Liabilities$27.62B$26.67B$26.42B$25.94B$20.97B$15.93B
Long-term Debt$11.94B$13.55B$15.98B$19.33B$23.58B$26.53B
Total Liabilities------
Stockholders' Equity$20.85B$15.29B$11.11B$6.58B$3.89B$1.53B
Retained Earnings$13.34B$8.78B$5.65B$1.17B($148.00M)($428.00M)

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$8.34B$8.03B$6.46B$6.36B$3.26B($3.79B)
Investing Cash Flow($4.19B)($3.74B)($3.15B)($6.92B)($898.00M)($9.24B)
Financing Cash Flow($3.08B)($4.26B)($3.39B)($4.54B)($3.85B)$19.36B
CapEx$4.50B$5.14B$5.32B$6.37B$3.25B$1.90B
Free Cash Flow$3.84B$2.88B$1.14B($3.00M)$17.00M($5.69B)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin------
Operating margin9.2%9.7%9.5%7.2%6.3%-72.9%
EBITDA margin13.0%13.8%13.5%11.4%13.0%-59.4%
Net margin7.9%5.6%7.9%2.6%0.9%-72.4%
Free cash flow margin6.1%4.7%2.0%-0.0%0.1%-33.3%
FCF / Net income0.770.830.25-0.000.060.46
R&D / Revenue------
SG&A / Revenue------
Effective tax rate19.1%25.8%17.8%31.1%29.6%-
Return on assets6.2%4.6%6.3%1.8%0.4%-17.2%
Return on equity24.0%22.6%41.5%20.0%7.2%-807.4%
Return on invested capital14.4%15.4%16.7%9.7%4.8%-35.1%
Liquidity
Current ratio0.400.370.390.500.761.09
Quick ratio0.400.370.390.500.761.09
Cash ratio0.160.120.100.130.380.52
Leverage
Debt / Equity0.570.891.442.946.0717.30
Debt / Assets0.150.180.220.270.330.37
Debt / EBITDA1.441.592.033.356.07-
Interest coverage------
Equity multiplier3.904.936.6310.9818.6446.93
Liabilities / Assets------
Efficiency
Asset turnover0.780.820.790.700.410.24
Inventory turnover------
Days sales outstanding16d19d20d23d29d30d
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E9.1x11.4x5.6x16.0x88.8x-
P / B2.2x2.6x2.3x3.2x6.4x16.7x
P / S0.7x0.6x0.4x0.4x0.8x1.5x
EV / EBITDA6.4x5.8x5.0x6.4x10.5x-
Growth
Revenue growth (YoY)2.8%6.2%14.8%69.2%74.9%-63.6%
Revenue CAGR (3y)7.8%27.3%50.3%2.5%-8.8%-24.4%
Revenue CAGR (5y)30.0%5.6%8.0%5.0%-5.8%-14.7%
Gross profit growth (YoY)------
Operating income growth (YoY)-2.9%8.6%50.8%94.1%--
Net income growth (YoY)44.8%-25.0%249.7%370.7%--
EPS growth (YoY)43.7%-25.7%248.1%368.2%--
EPS CAGR (3y)54.9%129.7%--34.4%-57.3%-
EPS CAGR (5y)--6.1%4.8%-16.1%-40.3%-
FCF growth (YoY)33.2%152.8%----
FCF CAGR (5y)--3.7%-9.2%--66.1%-
Book value growth (YoY)36.4%37.7%68.7%69.3%153.4%-90.0%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$65.25B total
Airline$58.29B · 89.3%
Refinery$6.96B · 10.7%

Product / service

$124.77B total
Passenger$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%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

7/9
Strong
  • ✓Net income positive
  • ✓Operating cash flow positive
  • ✓ROA improved YoY
  • ✓Cash flow > net income
  • ✓Long-term debt decreased
  • ✓Current ratio improved
  • ✓No share dilution
  • -Gross margin improved
  • ✗Asset turnover improved

Peer comparison

Same SIC group: Air Transportation, Scheduled

CompanyRevenue (last FY)Net marginROE
SNCY$1.13B4.7%8.4%
ULCC$3.72B-3.7%-27.9%
UAL$59.07B5.7%21.9%
ALK$14.24B0.7%2.4%
JBLU$9.06B-6.6%-28.4%

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-datePer 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