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Saturday 17 October 2026 Export DAL’s income statement to Excel — free account

Delta Air Lines, Inc.

DAL Industrials Airlines

Delta Air Lines, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $63.4 billion, up 2.79% from fiscal 2024. In the quarter to September 2026, revenue grew 21.1%, EPS fell 47.3%, free cash flow fell 56.4% and total debt fell 13.6%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for five, operating cash flow growth for five.

75.37 2.71 −3.47%
Market cap
$51.4B
P/E
15.0×
Fwd P/E
16.9×
Dividend yield
1.07%
F-score
6/9
Altman Z
1.45
Beneish M
−2.73
Dividend safety
78/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Delta Air Lines, Inc. (DAL) Gross margin

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Delta Air Lines, Inc.'s gross margin over the twelve months to 30 September 2026 was 29.1%, down 5.1 percentage points from fiscal 2025 (34.2%). Over the past ten years it has ranged from −3.74% (fiscal 2020) to 42.8% (fiscal 2016); the current reading is higher than 55% of that period. That is below the Airlines industry median of 40.7% and in line with the Industrials sector median of 30.5%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 34.2% (0.18)
FY2024 34.4% 0.50
FY2023 33.9% 4.01
FY2022 29.9% 5.12
FY2021 24.8% 28.50
FY2020 −3.74% (39.14)
FY2019 35.4% (1.48)
FY2018 36.9% (3.44)
FY2017 40.3% (2.48)
FY2016 42.8% 10.02

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 21.9% (2.85)
Jun 2026 24.7% (6.98)
Mar 2026 31.7% (9.64)
Dec 2025 41.3% 5.97
43 more quarters

Against its own ten years

Low −3.74% High 42.8%
Ten-year median 34.2%
Current reading's percentile 19

Gross margin against peers

Company Gross margin
ALK Alaska Air Group, Inc. compare 100.0%
UAL United Airlines Holdings Inc compare 67.7%
CPA Copa Holdings, S.A. compare 62.4%
RYAAY Ryanair Holdings PLC compare 52.3%
DAL Delta Air Lines, Inc. 29.1%
LTM LATAM Airlines Group S.A. compare 27.0%
LUV Southwest Airlines Co. compare 23.2%
AAL American Airlines Group Inc. compare 21.1%
ZNH China Southern Airlines Company Limited compare −0.11%
Airlines industry median 40.7%
Industrials sector median 30.5%
Market median 46.2%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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