DELTA AIR LINES, INC. DAL

Industrials SIC 4512 - Air Transportation, Scheduled NAICS Transportation and Warehousing › Air Transportation › Scheduled Air Transportation derived NYSE

As a global airline based in the United States, we connect customers across our expansive global network with a commitment to ensuring that the future of travel is connected, personalized and enjoyable. In 2025, we served over 200 million customers safely, reliably and with industry-leading customer service innovation.

As we celebrated our centennial year in 2025, we continued to differentiate Delta from the industry and to invest in extending our competitive advantages. These enduring competitive advantages, which support our trusted consumer brand, include our people and culture, operational reliability, global network, customer loyalty and financial foundation.

The Delta people and culture are our strongest competitive advantage. Our more than 100,000 employees provide world-class travel experiences for our customers and best-in-class service. We believe that Delta's brand transcends the industry, powered by our people's outstanding work and passion for serving our customers. For 2025, Delta was named No. 15 on the Fortune 100 Best Companies to Work For list and was ranked No. 2 in the Forbes ranking of the World's Best Employers.

Last close 76.78 2026-10-23
Market cap $50.49B 2026-06-30 share count
52-week range 55.03 - 95.68

Valuation FY2025 figures against the last close

P/S0.8x
P/E10.0x
P/FCF13.1x
EV/EBITDA7.2x
Dividend yield0.9%
Diluted EPS7.66

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $63.36B$61.64B$58.05B$50.58B$29.90B$17.09B$47.01B$44.44B$41.14B$39.45B
Total operating expenses $57.54B$55.65B$52.53B$46.92B$28.01B$29.56B$40.39B$39.17B$35.17B$32.45B
Operating income $5.82B$6.00B$5.52B$3.66B$1.89B-$12.47B$6.62B$5.26B$5.97B$7.00B
Interest expense ——$834.0M$1.03B$1.28B$929.0M$301.0M$311.0M$396.0M$388.0M
Pre-tax income $6.18B$4.66B$5.61B$1.91B$398.0M-$15.59B$6.20B$5.15B$5.50B$6.35B
Income tax $1.18B$1.20B$999.0M$596.0M$118.0M$3.20B$1.43B$1.22B$2.29B$2.16B
Net income $5.00B$3.46B$4.61B$1.32B$280.0M-$12.38B$4.77B$3.94B$3.21B$4.20B
EPS, basic 7.725.397.212.070.44-19.497.325.694.455.59
EPS, diluted 7.665.337.172.060.44-19.497.305.674.435.55
Shares, diluted (wtd. avg.) 654.0M648.0M643.0M641.0M641.0M636.0M653.0M694.0M723.0M755.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.31B$3.07B$2.74B$3.47B$8.57B$10.05B$3.73B$2.75B$1.85B$2.83B
Short-term investments —$0$1.13B$3.27B$3.39B$5.79B$0$203.0M$825.0M$487.0M
Receivables $2.85B$3.22B$3.13B$3.18B$2.40B$1.40B$2.85B$2.31B$2.38B$2.06B
Total current assets $10.97B$9.84B$10.27B$13.01B$15.94B$17.40B$8.25B$6.34B$7.80B$7.45B
Property, plant and equipment ———————$28.34B$26.56B$24.38B
Goodwill $9.75B$9.75B$9.75B$9.75B$9.75B$9.75B$9.78B$9.78B$9.79B$9.79B
Other intangibles $5.97B$5.97B$5.98B$5.99B$6.00B$6.01B$5.16B$4.83B$4.85B$4.84B
Total assets $81.32B$75.37B$73.64B$72.29B$72.46B$72.00B$64.53B$60.27B$53.67B$51.85B
Accounts payable $5.23B$4.65B$4.45B$5.11B$4.24B$2.84B$3.27B$2.98B$3.63B$2.57B
Short-term debt $1.37B$1.80B$2.62B$2.06B$1.50B$1.44B$2.05B$1.41B$2.15B$1.01B
Total current liabilities $27.62B$26.67B$26.42B$25.94B$20.97B$15.93B$20.20B$18.58B$18.96B$15.24B
Long-term debt $11.94B$13.55B$15.98B$19.33B$23.58B$26.53B$8.05B$7.96B$6.29B$6.00B
Retained earnings $13.34B$8.78B$5.65B$1.17B-$148.0M-$428.0M$12.45B$10.04B$8.26B$7.90B
Total equity $20.85B$15.29B$11.11B$6.58B$3.89B$1.53B$15.36B$13.69B$12.53B$11.28B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $8.34B$8.03B$6.46B$6.36B$3.26B-$3.79B$8.43B$7.01B$5.02B$7.21B
Depreciation and amortisation $2.44B$2.51B$2.34B$2.11B$2.00B$2.31B$2.58B$2.33B$2.22B$1.89B
Stock-based compensation ——————$161.0M$159.0M$169.0M$154.0M
Capital expenditure $4.50B$5.14B$5.32B$6.37B$3.25B$1.90B$4.94B$5.17B$3.89B$3.39B
Investing cash flow -$4.19B-$3.74B-$3.15B-$6.92B-$898.0M-$9.24B-$4.56B-$4.39B-$5.27B-$2.15B
Financing cash flow -$3.08B-$4.26B-$3.39B-$4.54B-$3.85B$19.36B-$2.88B-$1.73B-$730.0M-$4.26B
Dividends paid $440.0M$321.0M$128.0M$0$0$260.0M$980.0M$909.0M$731.0M$509.0M
Buybacks ———$0$0$344.0M$2.03B$1.57B$1.68B$2.60B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000345.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20B 0 20B 40B 60B 80B Revenue, FY2016: 39.5B Net income, FY2016: 4.2B Revenue, FY2017: 41.1B Net income, FY2017: 3.2B Revenue, FY2018: 44.4B Net income, FY2018: 3.9B Revenue, FY2019: 47B Net income, FY2019: 4.8B Revenue, FY2020: 17.1B Net income, FY2020: -12.4B Revenue, FY2021: 29.9B Net income, FY2021: 280M Revenue, FY2022: 50.6B Net income, FY2022: 1.3B Revenue, FY2023: 58B Net income, FY2023: 4.6B Revenue, FY2024: 61.6B Net income, FY2024: 3.5B Revenue, FY2025: 63.4B Net income, FY2025: 5B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $39.45B $41.14B $44.44B $47.01B $17.09B $29.90B $50.58B $58.05B $61.64B $63.36B
Gross profit — — — — — — — — — —
Net income $4.20B $3.21B $3.94B $4.77B -$12.38B $280.0M $1.32B $4.61B $3.46B $5.00B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed Item 1.01
  • Material agreement signed Item 1.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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