InsiderClue
Stocks · Industrials · Air Transportation, Scheduled

Delta Air Lines

DAL Clue Score61
United States Fiscal year ends December CIK 0000027904
$82.17 +0.04% Close, 9 Oct 2026
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Price $82.17 +90.25% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue39.45Operating income7.00Net income4.20EPS, diluted5.55Fiscal year 2017Revenue41.14 +4.3%Operating income5.97Net income3.21 −23.6%EPS, diluted4.43Fiscal year 2018Revenue44.44 +8.0%Operating income5.26Net income3.94 +22.8%EPS, diluted5.67Fiscal year 2019Revenue47.01 +5.8%Operating income6.62Net income4.77 +21.1%EPS, diluted7.30Fiscal year 2020Revenue17.10 −63.6%Operating income−12.47Net income−12.39 −359.8%EPS, diluted−19.49Fiscal year 2021Revenue29.90 +74.9%Operating income1.89Net income0.28EPS, diluted0.44Fiscal year 2022Revenue50.58 +69.2%Operating income3.66Net income1.32 +370.7%EPS, diluted2.06Fiscal year 2023Revenue58.05 +14.8%Operating income5.52Net income4.61 +249.7%EPS, diluted7.17Fiscal year 2024Revenue61.64 +6.2%Operating income6.00Net income3.46 −25.0%EPS, diluted5.33Fiscal year 2025Revenue63.36 +2.8%Operating income5.82Net income5.01 +44.8%EPS, diluted7.66
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 39.45 41.14 44.44 47.01 17.10 29.90 50.58 58.05 61.64 63.36
Growth +4.3% +8.0% +5.8% −63.6% +74.9% +69.2% +14.8% +6.2% +2.8%
Operating income 7.00 5.97 5.26 6.62 −12.47 1.89 3.66 5.52 6.00 5.82
Net income 4.20 3.21 3.94 4.77 −12.39 0.28 1.32 4.61 3.46 5.01
Growth −23.6% +22.8% +21.1% −359.8% +370.7% +249.7% −25.0% +44.8%
EPS, diluted 5.55 4.43 5.67 7.30 −19.49 0.44 2.06 7.17 5.33 7.66

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin17.7%Net margin10.6%Free cash flow margin9.7%Fiscal year 2017Operating margin14.5%Net margin7.8%Free cash flow margin2.8%Fiscal year 2018Operating margin11.8%Net margin8.9%Free cash flow margin4.2%Fiscal year 2019Operating margin14.1%Net margin10.1%Free cash flow margin7.4%Fiscal year 2020Operating margin−72.9%Net margin−72.4%Free cash flow margin−33.3%Fiscal year 2021Operating margin6.3%Net margin0.9%Free cash flow margin0.1%Fiscal year 2022Operating margin7.2%Net margin2.6%Free cash flow margin−0.0%Fiscal year 2023Operating margin9.5%Net margin7.9%Free cash flow margin2.0%Fiscal year 2024Operating margin9.7%Net margin5.6%Free cash flow margin4.7%Fiscal year 2025Operating margin9.2%Net margin7.9%Free cash flow margin6.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 17.7% 14.5% 11.8% 14.1% −72.9% 6.3% 7.2% 9.5% 9.7% 9.2%
Net margin 10.6% 7.8% 8.9% 10.1% −72.4% 0.9% 2.6% 7.9% 5.6% 7.9%
Free cash flow margin 9.7% 2.8% 4.2% 7.4% −33.3% 0.1% −0.0% 2.0% 4.7% 6.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow7.22Capital expenditure−3.39Free cash flow3.82Buybacks−2.60Dividends paid−0.51Fiscal year 2017Operating cash flow5.02Capital expenditure−3.89Free cash flow1.13 −70.4%Buybacks−1.68Dividends paid−0.73Fiscal year 2018Operating cash flow7.01Capital expenditure−5.17Free cash flow1.85 +63.1%Buybacks−1.58Dividends paid−0.91Fiscal year 2019Operating cash flow8.43Capital expenditure−4.94Free cash flow3.49 +89.0%Buybacks−2.03Dividends paid−0.98Fiscal year 2020Operating cash flow−3.79Capital expenditure−1.90Free cash flow−5.69 −263.1%Buybacks−0.34Dividends paid−0.26Fiscal year 2021Operating cash flow3.26Capital expenditure−3.25Free cash flow0.02Buybacks0.00Dividends paid0.00Fiscal year 2022Operating cash flow6.36Capital expenditure−6.37Free cash flow−0.00 −117.6%Buybacks0.00Dividends paid0.00Fiscal year 2023Operating cash flow6.46Capital expenditure−5.32Free cash flow1.14Dividends paid−0.13Fiscal year 2024Operating cash flow8.03Capital expenditure−5.14Free cash flow2.89 +152.8%Dividends paid−0.32Fiscal year 2025Operating cash flow8.34Capital expenditure−4.50Free cash flow3.84 +33.2%Dividends paid−0.44
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 7.22 5.02 7.01 8.43 −3.79 3.26 6.36 6.46 8.03 8.34
Capital expenditure −3.39 −3.89 −5.17 −4.94 −1.90 −3.25 −6.37 −5.32 −5.14 −4.50
Free cash flow 3.82 1.13 1.85 3.49 −5.69 0.02 −0.00 1.14 2.89 3.84
Growth −70.4% +63.1% +89.0% −263.1% −117.6% +152.8% +33.2%
Buybacks −2.60 −1.68 −1.58 −2.03 −0.34 0.00 0.00 n/a n/a n/a
Dividends paid −0.51 −0.73 −0.91 −0.98 −0.26 0.00 0.00 −0.13 −0.32 −0.44

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.76Total debt7.01Net cash (debt)−4.25Shareholders’ equity11.28Debt to equity0.62Fiscal year 2017Cash1.81Total debt8.44Net cash (debt)−6.63Shareholders’ equity12.53Debt to equity0.67Fiscal year 2018Cash1.57Total debt9.37Net cash (debt)−7.80Shareholders’ equity13.69Debt to equity0.68Fiscal year 2019Cash2.88Total debt10.11Net cash (debt)−7.22Shareholders’ equity15.36Debt to equity0.66Fiscal year 2020Cash8.31Total debt27.97Net cash (debt)−19.67Shareholders’ equity1.53Debt to equity18.24Fiscal year 2021Cash7.93Total debt25.08Net cash (debt)−17.15Shareholders’ equity3.89Debt to equity6.45Fiscal year 2022Cash3.27Total debt21.38Net cash (debt)−18.12Shareholders’ equity6.58Debt to equity3.25Fiscal year 2023Cash2.74Total debt18.61Net cash (debt)−15.87Shareholders’ equity11.11Debt to equity1.68Fiscal year 2024Cash3.07Total debt15.35Net cash (debt)−12.28Shareholders’ equity15.29Debt to equity1.00Fiscal year 2025Cash4.31Total debt13.31Net cash (debt)−9.00Shareholders’ equity20.85Debt to equity0.64
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.76 1.81 1.57 2.88 8.31 7.93 3.27 2.74 3.07 4.31
Total debt 7.01 8.44 9.37 10.11 27.97 25.08 21.38 18.61 15.35 13.31
Net cash (debt) −4.25 −6.63 −7.80 −7.22 −19.67 −17.15 −18.12 −15.87 −12.28 −9.00
Shareholders’ equity 11.28 12.53 13.69 15.36 1.53 3.89 6.58 11.11 15.29 20.85
Debt to equity 0.62 0.67 0.68 0.66 18.24 6.45 3.25 1.68 1.00 0.64

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2008 31 Dec 2008 FY2009 31 Dec 2009 FY2010 31 Dec 2010 FY2011 31 Dec 2011 FY2012 31 Dec 2012 FY2013 31 Dec 2013 FY2014 31 Dec 2014 FY2015 31 Dec 2015 FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a −1.2% 7.0% 5.6% 5.9% 9.0% 5.5% 19.2% 17.7% 14.5% 11.8% 14.1% −72.9% 6.3% 7.2% 9.5% 9.7% 9.2%
n/a −5.6% 1.9% 2.2% 2.8% 6.7% 2.7% 17.6% 16.1% 13.4% 11.6% 13.2% −91.2% 1.3% 3.8% 9.7% 7.6% 9.8%
n/a −4.4% 1.9% 2.4% 2.8% 27.9% 1.6% 11.1% 10.6% 7.8% 8.9% 10.1% −72.4% 0.9% 2.6% 7.9% 5.6% 7.9%
n/a n/a n/a n/a 1.4% 5.1% 6.7% 12.2% 9.7% 2.8% 4.2% 7.4% −33.3% 0.1% −0.0% 2.0% 4.7% 6.1%
Spending
n/a n/a n/a n/a 5.4% 6.8% 5.6% 7.2% 8.6% 9.5% 11.6% 10.5% 11.1% 10.9% 12.6% 9.2% 8.3% 7.1%
n/a n/a 2.5% −11.1% 1.6% −317.1% 38.5% 36.8% 34.0% 41.7% 23.6% 23.1% n/a 29.6% 31.1% 17.8% 25.8% 19.1%
Returns
−1,020.8% −504.9% 66.1% n/a n/a 90.5% 7.5% 41.7% 37.2% 25.6% 28.7% 31.0% −807.4% 7.2% 20.0% 41.5% 22.6% 24.0%
n/a −2.8% 1.4% 2.0% 2.3% 20.2% 1.2% 8.5% 8.1% 6.0% 6.5% 7.4% −17.2% 0.4% 1.8% 6.3% 4.6% 6.2%
Balance and payout
n/a 56.22 16.17 n/a n/a 0.93 1.05 0.73 0.62 0.67 0.68 0.66 18.24 6.45 3.25 1.68 1.00 0.64
n/a n/a n/a 0.0% 0.0% 1.0% 38.1% 7.9% 12.1% 22.8% 23.1% 20.6% n/a 0.0% 0.0% 2.8% 9.3% 8.8%
n/a n/a n/a n/a 0.0% 18.2% 50.1% 51.4% 81.3% 212.7% 134.6% 86.2% n/a 0.0% n/a 11.2% 11.1% 11.4%