Delta Air Lines Inc Del Financials
This page shows Delta Air Lines Inc Del (DAL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Delta Air Lines Inc Del has an operating margin of 11.3%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 56/100, indicating healthy but not exceptional operating efficiency. This is up from 9.7% the prior year.
Delta Air Lines Inc Del's revenue declined 100% year-over-year, from $61.6B to $52K. This contraction results in a growth score of 0/100.
Delta Air Lines Inc Del carries a low D/E ratio of 0.57, meaning only $0.57 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Delta Air Lines Inc Del's current ratio of 0.40 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
Delta Air Lines Inc Del has a free cash flow margin of 7.5%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.
Delta Air Lines Inc Del earns a strong 24.0% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 96/100. This is up from 22.6% the prior year.
Delta Air Lines Inc Del scores 447202.68, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($45.1B) relative to total liabilities ($60K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Delta Air Lines Inc Del passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Delta Air Lines Inc Del generates $1.67 in operating cash flow ($8K OCF vs $5K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Delta Air Lines Inc Del generated $52K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Delta Air Lines Inc Del's EBITDA was $8K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Delta Air Lines Inc Del generated $4K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Delta Air Lines Inc Del reported $5K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Delta Air Lines Inc Del earned $7.66 per diluted share (EPS) in fiscal year 2025. This represents an increase of 43.7% from the prior year.
Delta Air Lines Inc Del held $4K in cash against $12K in long-term debt as of fiscal year 2025.
Delta Air Lines Inc Del paid $0.20 per share in dividends in fiscal year 2025. This represents a decrease of 60.0% from the prior year.
Delta Air Lines Inc Del had 653M shares outstanding in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Delta Air Lines Inc Del's gross margin was 87.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Delta Air Lines Inc Del's operating margin was 11.3% in fiscal year 2025, reflecting core business profitability. This is up 1.5 percentage points from the prior year.
Delta Air Lines Inc Del's net profit margin was 9.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.1 percentage points from the prior year.
Delta Air Lines Inc Del's ROE was 24.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the prior year.
Delta Air Lines Inc Del invested $4K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
DAL Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.0B-4.0% | $16.7B+0.2% | $16.6B+18.6% | $14.0B-9.8% | $15.6B-0.7% | $15.7B-5.9% | $16.7B+21.2% | $13.7B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $1.5B-12.9% | $1.7B-19.9% | $2.1B+269.4% | $569.0M-66.9% | $1.7B+22.9% | $1.4B-38.4% | $2.3B+269.2% | $614.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$205.0M |
| Income Tax | $296.0M-17.8% | $360.0M-18.9% | $444.0M+455.0% | $80.0M-77.7% | $359.0M+24.2% | $289.0M-38.2% | $468.0M+450.6% | $85.0M |
| Net Income | $1.2B-14.0% | $1.4B-33.5% | $2.1B+787.5% | $240.0M-71.5% | $843.0M-33.7% | $1.3B-2.5% | $1.3B+3427.0% | $37.0M |
| EPS (Diluted) | $1.85-14.7% | $2.17-33.6% | $3.27+783.8% | $0.37-71.3% | $1.29-34.5% | $1.97-2.0% | $2.01+3250.0% | $0.06 |
DAL Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $81.3B+2.1% | $79.6B+1.6% | $78.4B+1.4% | $77.3B+2.6% | $75.4B0.0% | $75.4B+0.2% | $75.2B+0.3% | $75.0B |
| Current Assets | $11.0B-2.3% | $11.2B+2.3% | $11.0B-2.3% | $11.2B+14.1% | $9.8B-11.0% | $11.1B-4.5% | $11.6B+0.1% | $11.6B |
| Cash & Equivalents | $4.3B+13.7% | $3.8B+13.8% | $3.3B-10.2% | $3.7B+20.9% | $3.1B-22.7% | $4.0B-3.4% | $4.1B+6.0% | $3.9B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $9.8B0.0% | $9.8B0.0% | $9.8B0.0% | $9.8B0.0% | $9.8B0.0% | $9.8B0.0% | $9.8B0.0% | $9.8B |
| Total Liabilities | $60.5B-0.6% | $60.8B-0.3% | $61.0B-1.5% | $61.9B+3.0% | $60.1B-2.7% | $61.7B-1.7% | $62.8B-1.6% | $63.8B |
| Current Liabilities | $27.6B-2.2% | $28.2B-1.1% | $28.6B-3.9% | $29.7B+11.4% | $26.7B-5.1% | $28.1B-2.2% | $28.8B+1.0% | $28.5B |
| Long-Term Debt | $11.9B-3.0% | $12.3B-0.8% | $12.4B-0.3% | $12.4B-8.2% | $13.5B-2.4% | $13.9B-1.4% | $14.1B-9.6% | $15.6B |
| Total Equity | $20.9B+10.8% | $18.8B+7.9% | $17.4B+12.9% | $15.4B+1.0% | $15.3B+12.1% | $13.6B+10.2% | $12.4B+11.1% | $11.2B |
| Retained Earnings | $13.3B+10.0% | $12.1B+11.9% | $10.8B+21.4% | $8.9B+1.6% | $8.8B+10.6% | $7.9B+17.4% | $6.8B+20.3% | $5.6B |
DAL Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.3B+22.4% | $1.8B-0.5% | $1.9B-21.9% | $2.4B+25.6% | $1.9B+48.7% | $1.3B-48.0% | $2.4B+1.7% | $2.4B |
| Capital Expenditures | $907.0M-21.8% | $1.2B-4.1% | $1.2B-1.2% | $1.2B-6.6% | $1.3B-1.4% | $1.3B+1.5% | $1.3B+9.6% | $1.2B |
| Free Cash Flow | $1.4B+96.9% | $687.0M+6.0% | $648.0M-43.8% | $1.2B+97.6% | $584.0M+1181.5% | -$54.0M-104.7% | $1.1B-6.1% | $1.2B |
| Investing Cash Flow | -$728.0M+29.7% | -$1.0B+13.7% | -$1.2B+2.0% | -$1.2B-4.7% | -$1.2B-4.0% | -$1.1B-38.9% | -$809.0M-27.0% | -$637.0M |
| Financing Cash Flow | -$1.0B-170.8% | -$370.0M+65.4% | -$1.1B-68.8% | -$634.0M+60.1% | -$1.6B-328.6% | -$371.0M+75.5% | -$1.5B-92.1% | -$787.0M |
| Dividends Paid | $122.0M-1.6% | $124.0M-44.1% | $222.0M+124.2% | $99.0M+3.1% | $96.0M-1.0% | $97.0M-40.1% | $162.0M+153.1% | $64.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
DAL Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 9.2%-0.9pp | 10.1%-2.5pp | 12.6%+8.6pp | 4.0%-7.0pp | 11.0%+2.1pp | 8.9%-4.7pp | 13.6%+9.1pp | 4.5% |
| Net Margin | 7.6%-0.9pp | 8.5%-4.3pp | 12.8%+11.1pp | 1.7%-3.7pp | 5.4%-2.7pp | 8.1%+0.3pp | 7.8%+7.6pp | 0.3% |
| Return on Equity | 5.8%-1.7pp | 7.5%-4.7pp | 12.2%+10.7pp | 1.6%-4.0pp | 5.5%-3.8pp | 9.3%-1.2pp | 10.5%+10.2pp | 0.3% |
| Return on Assets | 1.5%-0.3pp | 1.8%-0.9pp | 2.7%+2.4pp | 0.3%-0.8pp | 1.1%-0.6pp | 1.7%-0.1pp | 1.7%+1.7pp | 0.1% |
| Current Ratio | 0.400.0 | 0.40+0.0 | 0.380.0 | 0.380.0 | 0.37-0.0 | 0.390.0 | 0.400.0 | 0.41 |
| Debt-to-Equity | 0.57-0.1 | 0.65-0.1 | 0.71-0.1 | 0.80-0.1 | 0.89-0.1 | 1.02-0.1 | 1.14-0.3 | 1.40 |
| FCF Margin | 8.5%+4.3pp | 4.1%+0.2pp | 3.9%-4.3pp | 8.2%+4.5pp | 3.8%+4.1pp | -0.3%-7.2pp | 6.9%-2.0pp | 8.8% |
Note: The current ratio is below 1.0 (0.40), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Delta Air Lines Inc Del's annual revenue?
Delta Air Lines Inc Del (DAL) reported $52K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Delta Air Lines Inc Del's revenue growing?
Delta Air Lines Inc Del (DAL) revenue declined by 100% year-over-year, from $61.6B to $52K in fiscal year 2025.
Is Delta Air Lines Inc Del profitable?
Yes, Delta Air Lines Inc Del (DAL) reported a net income of $5K in fiscal year 2025, with a net profit margin of 9.7%.
What is Delta Air Lines Inc Del's earnings per share (EPS)?
Delta Air Lines Inc Del (DAL) reported diluted earnings per share of $7.66 for fiscal year 2025. This represents a 43.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Delta Air Lines Inc Del's EBITDA?
Delta Air Lines Inc Del (DAL) had EBITDA of $8K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Delta Air Lines Inc Del have?
As of fiscal year 2025, Delta Air Lines Inc Del (DAL) had $4K in cash and equivalents against $12K in long-term debt.
What is Delta Air Lines Inc Del's gross margin?
Delta Air Lines Inc Del (DAL) had a gross margin of 87.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Delta Air Lines Inc Del's operating margin?
Delta Air Lines Inc Del (DAL) had an operating margin of 11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Delta Air Lines Inc Del's net profit margin?
Delta Air Lines Inc Del (DAL) had a net profit margin of 9.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Delta Air Lines Inc Del pay dividends?
Yes, Delta Air Lines Inc Del (DAL) paid $0.20 per share in dividends during fiscal year 2025.
What is Delta Air Lines Inc Del's return on equity (ROE)?
Delta Air Lines Inc Del (DAL) has a return on equity of 24.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Delta Air Lines Inc Del's free cash flow?
Delta Air Lines Inc Del (DAL) generated $4K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Delta Air Lines Inc Del's operating cash flow?
Delta Air Lines Inc Del (DAL) generated $8K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Delta Air Lines Inc Del's total assets?
Delta Air Lines Inc Del (DAL) had $81K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Delta Air Lines Inc Del's capital expenditures?
Delta Air Lines Inc Del (DAL) invested $4K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Delta Air Lines Inc Del have outstanding?
Delta Air Lines Inc Del (DAL) had 653M shares outstanding as of fiscal year 2025.
What is Delta Air Lines Inc Del's current ratio?
Delta Air Lines Inc Del (DAL) had a current ratio of 0.40 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Delta Air Lines Inc Del's debt-to-equity ratio?
Delta Air Lines Inc Del (DAL) had a debt-to-equity ratio of 0.57 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Delta Air Lines Inc Del's return on assets (ROA)?
Delta Air Lines Inc Del (DAL) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Delta Air Lines Inc Del's Altman Z-Score?
Delta Air Lines Inc Del (DAL) has an Altman Z-Score of 447202.68, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Delta Air Lines Inc Del's Piotroski F-Score?
Delta Air Lines Inc Del (DAL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Delta Air Lines Inc Del's earnings high quality?
Delta Air Lines Inc Del (DAL) has an earnings quality ratio of 1.67x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Delta Air Lines Inc Del?
Delta Air Lines Inc Del (DAL) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.