Delta Air Lines (DAL) financials
Delta Air Lines revenue and earnings by year
Delta Air Lines's revenue was $63.4 billion in the fiscal year to December 31, 2025, up 2.8% from the year before. Net income was $5.00 billion, 7.9% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 5.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 63.4 | 61.6 | 58.0 | 50.6 | 29.9 | 17.1 | 47.0 | 44.4 | 41.1 | 39.5 |
| Revenue growth | 2.8% | 6.2% | 14.8% | 69.2% | 74.9% | -63.6% | 5.8% | 8.0% | 4.3% | — |
| Gross profit | 29.5 | 28.5 | 27.0 | 19.9 | 10.6 | 4.3 | 24.3 | 21.4 | 20.9 | 21.0 |
| Gross margin | 46.6% | 46.3% | 46.4% | 39.4% | 35.4% | 25.4% | 51.6% | 48.1% | 50.9% | 53.3% |
| Operating income | 5.8 | 6.0 | 5.5 | 3.7 | 1.9 | -12.5 | 6.6 | 5.3 | 6.0 | 7.0 |
| Operating margin | 9.2% | 9.7% | 9.5% | 7.2% | 6.3% | -72.9% | 14.1% | 11.8% | 14.5% | 17.7% |
| Net income | 5.0 | 3.5 | 4.6 | 1.3 | 0.3 | -12.4 | 4.8 | 3.9 | 3.2 | 4.2 |
| Net margin | 7.9% | 5.6% | 7.9% | 2.6% | 0.9% | -72.4% | 10.1% | 8.9% | 7.8% | 10.6% |
| Diluted EPS | $7.66 | $5.33 | $7.17 | $2.06 | $0.44 | -$19.49 | $7.32 | $5.69 | $4.42 | $5.77 |
| Free cash flow | 3.8 | 2.9 | 1.1 | -0.0 | 0.0 | -5.7 | 3.5 | 1.8 | 1.1 | 3.8 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open DAL in Markets.
How Delta Air Lines makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Passenger | $15.5B | 77.0% |
| Product & Service Other Refinery | $2.60B | 12.9% |
| Product & Service Other Loyalty Program | $1.35B | 6.7% |
| Cargo & Freight | $301M | 1.5% |
| Product & Service Other Ancillary Businesses | $296M | 1.5% |
| Product & Service Other Miscellaneous | $108M | 0.5% |
See also: DAL valuation and P/E history · DAL returns
No forecast, no recommendation. This page describes Delta Air Lines from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.