15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $63.4B | $5.0B | 0.0% | 9.2% | $3.8B | $13.3B | $4.3B |
| 2024 | $61.6B | $3.5B | 0.0% | 9.7% | $2.9B | $15.3B | $3.1B |
| 2023 | $58.0B | $4.6B | 0.0% | 9.5% | $1.1B | $18.6B | $2.7B |
| 2022 | $50.6B | $1.3B | 0.0% | 7.2% | -$3M | $21.4B | $3.3B |
| 2021 | $29.9B | $280M | 0.0% | 6.3% | $17M | $25.1B | $7.9B |
| 2020 | $17.1B | -$12.4B | 0.0% | -72.9% | -$5.7B | $28.0B | $8.3B |
| 2019 | $47.0B | $4.8B | 0.0% | 14.1% | $3.5B | $10.1B | $2.9B |
| 2018 | $44.4B | $3.9B | 0.0% | 11.8% | $1.8B | $9.4B | $1.6B |
| 2017 | $41.1B | $3.2B | 0.0% | 14.5% | $1.1B | $8.4B | $1.8B |
| 2016 | $39.5B | $4.2B | 0.0% | 17.7% | $3.8B | $7.0B | $2.8B |
| 2015 | — | $4.5B | — | — | $5.0B | $7.9B | $2.0B |
| 2014 | — | $659M | — | — | $2.7B | $9.4B | $2.1B |
| 2013 | — | $10.5B | — | — | $1.9B | $10.8B | $2.8B |
| 2012 | — | $1.0B | — | — | $508M | $12.1B | $2.4B |
| 2011 | — | $854M | — | — | — | $13.1B | $2.7B |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $15.9B | -$289M | 0.0% | 3.2% | $1.2B | $13.2B | $5.1B |
| Dec '25 | $16.0B | $1.2B | 0.0% | 9.2% | $1.4B | $13.3B | $4.3B |
| Sep '25 | $16.7B | $1.4B | 0.0% | 10.1% | $687M | $14.2B | $3.8B |
| Jun '25 | $16.6B | $2.1B | 0.0% | 12.6% | $648M | $14.4B | $3.3B |
| Mar '25 | $14.0B | $240M | 0.0% | 4.1% | $1.2B | $15.1B | $3.7B |
| Dec '24 | $15.6B | $843M | 0.0% | 11.0% | $584M | $15.3B | $3.1B |
| Sep '24 | $15.7B | $1.3B | 0.0% | 8.9% | -$54M | $16.6B | $4.0B |
| Jun '24 | $16.7B | $1.3B | 0.0% | 13.6% | $1.1B | $16.8B | $4.1B |
| Mar '24 | $13.7B | $37M | 0.0% | 4.5% | $1.2B | $18.1B | $3.9B |
| Dec '23 | $14.2B | $2.0B | 0.0% | 9.3% | -$1.1B | $18.6B | $2.7B |
| Sep '23 | $15.5B | $1.1B | 0.0% | 12.8% | -$193M | $18.0B | $2.8B |
| Jun '23 | $15.6B | $1.8B | 0.0% | 16.0% | $1.2B | $18.6B | $2.7B |
| Mar '23 | $12.8B | -$363M | 0.0% | -2.2% | $1.2B | $20.3B | $3.2B |
| Dec '22 | $13.4B | $829M | 0.0% | 10.9% | -$1.0B | $21.4B | $3.3B |
| Sep '22 | $14.0B | $695M | 0.0% | 10.4% | -$573M | $21.5B | $7.0B |
| Jun '22 | $13.8B | $735M | 0.0% | 11.0% | $1.6B | $23.1B | $9.2B |
| Mar '22 | $9.3B | -$940M | 0.0% | -8.4% | $5M | $23.8B | $7.7B |
| Dec '21 | $9.5B | -$408M | 0.0% | 2.8% | -$662M | $25.1B | $7.9B |
| Sep '21 | $9.2B | $1.2B | 0.0% | 24.1% | -$679M | $26.1B | $8.8B |
| Jun '21 | $7.1B | $652M | 0.0% | 11.5% | $1.1B | $27.3B | $10.4B |
How the market has priced DAL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Delta Air Lines's revenue has grown 30.0% per year. These are computed facts, not advice.
As of FY2025, Delta Air Lines reported $13.3B of total debt against $4.3B of cash.
In FY2025, gross margin was —, operating margin 9.2%, and net margin 7.9%.
As of Jun '26, Delta Air Lines traded at a price-to-earnings ratio of about 12.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.