Delta Air Lines, Inc. (DAL) Financial Statements

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Delta Air Lines financial statements at a glance

Delta Air Lines reported revenue of $63.36 billion for fiscal year 2025 (ended December 31, 2025), up 2.8% from fiscal year 2024. Net income was $5.01 billion, a net margin of 7.9%, and diluted earnings per share were $7.66.

At the end of fiscal year 2025 it had total assets of $81.32 billion, total liabilities of $60.46 billion and shareholders' equity of $20.85 billion, with cash and short-term investments of $4.31 billion and total debt of $20.27 billion.

Its operations brought in $8.34 billion of cash; capital spending was $4.50 billion, leaving free cash flow of $3.84 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

DAL logo

Delta Air Lines, Inc.

DALUnited States
Manufacturing and Production
USD (Local)

Income Statement

Annual • USD

Total Revenue
63.36B
Prev Year: 61.64B
YoY: +2.8%
Operating Revenue
52.67B
Prev Year: 51.72B
YoY: +1.8%
Net Income from Continuing Operation Net Minority Interest
5.00B
Prev Year: 3.46B
YoY: +44.8%
Total Unusual Items Excluding Goodwill
1.19B
Prev Year: -358.00M
YoY: +431.3%
Total Unusual Items
1.19B
Prev Year: -358.00M
YoY: +431.3%
Normalized EBITDA
8.12B
Prev Year: 8.28B
YoY: -1.9%
Tax Rate for Calcs
0.191
Prev Year: 0
Tax Effect of Unusual Items
226.53M
Prev Year: -92.36M
YoY: +345.3%
Cost of Revenue
48.05B
Prev Year: 45.09B
YoY: +6.6%
Gross Profit
15.31B
Prev Year: 16.56B
YoY: -7.5%
Operating Expense
9.49B
Prev Year: 10.56B
YoY: -10.1%
Selling General and Administrative
2.48B
Prev Year: 3.87B
YoY: -35.9%
Selling and Marketing Expense
2.48B
Prev Year: 2.48B
YoY: 0.0%
General and Administrative Expense
-
Prev Year: 1.39B
Other Operating Expenses
7.00B
Prev Year: 6.69B
YoY: +4.7%
Operating Income
5.82B
Prev Year: 6.00B
YoY: -2.9%
Net Non Operating Interest Income Expense
-679.00M
Prev Year: -747.00M
YoY: +9.1%
Non-operating Interest Expense
679.00M
Prev Year: 747.00M
YoY: -9.1%
Other Income Expense
1.04B
Prev Year: -590.00M
YoY: +276.6%
Gain on Sale of Securities
1.21B
Prev Year: -319.00M
YoY: +479.9%
Special Income Charges
-26.00M
Prev Year: -39.00M
YoY: +33.3%
Other Special Charges
26.00M
Prev Year: 39.00M
YoY: -33.3%
Restructuring and Mergers Acquisition
-
Other Non-operating Income (expense)
-144.00M
Prev Year: -232.00M
YoY: +37.9%
Pre-tax Income
6.18B
Prev Year: 4.66B
YoY: +32.8%
Provision for Income Taxes
1.18B
Prev Year: 1.20B
YoY: -1.7%
Net Income Common Stockholders
5.00B
Prev Year: 3.46B
YoY: +44.8%
Net Income
5.00B
Prev Year: 3.46B
YoY: +44.8%
Net Income Including Non-Controlling Interests
5.00B
Prev Year: 3.46B
YoY: +44.8%
Net Income from Continuing Operations
5.00B
Prev Year: 3.46B
YoY: +44.8%
Diluted NI Available to Com Stockholders
5.00B
Prev Year: 3.46B
YoY: +44.8%
Basic EPS
7.72
Prev Year: 5.39
YoY: +43.2%
Diluted EPS
7.66
Prev Year: 5.33
YoY: +43.7%
Weighted Average Shares (basic)
648.00M
Prev Year: 641.00M
YoY: +1.1%
Weighted Average Shares (diluted)
654.00M
Prev Year: 648.00M
YoY: +0.9%
Total Operating Income as Reported
5.82B
Prev Year: 6.00B
YoY: -2.9%
Rent Expense (supplemental)
4.11B
Prev Year: 3.70B
YoY: +11.0%
Total Expenses
57.54B
Prev Year: 55.65B
YoY: +3.4%
Interest Expense
679.00M
Prev Year: 747.00M
YoY: -9.1%
Net Interest Income
-679.00M
Prev Year: -747.00M
YoY: +9.1%
Net Income from Continuing and Discontinued Operation
5.00B
Prev Year: 3.46B
YoY: +44.8%
Normalized Income
4.05B
Prev Year: 3.72B
YoY: +8.7%
EBIT
6.86B
Prev Year: 5.41B
YoY: +27.0%
EBITDA
9.31B
Prev Year: 7.92B
YoY: +17.5%
Reconciled Cost of Revenue
48.05B
Prev Year: 45.09B
YoY: +6.6%
Reconciled Depreciation
2.44B
Prev Year: 2.51B
YoY: -2.8%
Values in USD

Delta Air Lines key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$63.4B$61.6B$58.0B$50.6B$29.9B
Gross profit$15.3B$16.6B$15.5B$11.2B$2.2B
Operating income$5.8B$6.0B$5.5B$3.7B$2.3B
Net income$5.0B$3.5B$4.6B$1.3B$280.0M
Diluted EPS$7.66$5.33$7.17$2.06$0.44
Total assets$81.3B$75.4B$73.6B$72.3B$72.5B
Total liabilities$60.5B$60.1B$62.5B$65.7B$68.6B
Shareholders' equity$20.9B$15.3B$11.1B$6.6B$3.9B
Cash and short-term investments$4.3B$3.1B$3.9B$6.5B$11.3B
Total debt$20.3B$22.8B$27.3B$30.6B$34.7B
Operating cash flow$8.3B$8.0B$6.5B$6.4B$3.3B
Capital spending$4.5B$5.1B$5.3B$6.4B$3.2B
Free cash flow$3.8B$2.9B$1.1B-$3.0M$17.0M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Delta Air Lines's revenue in fiscal year 2025?

$63.36 billion, up 2.8% from $61.64 billion in fiscal year 2024.

How much profit does Delta Air Lines make?

Delta Air Lines reported net income of $5.01 billion for fiscal year 2025 (7.9% of revenue); operating income was $5.82 billion.

How much cash and debt does Delta Air Lines have?

At the end of fiscal year 2025: cash and short-term investments of $4.31 billion and total debt of $20.27 billion.

What is Delta Air Lines's free cash flow?

$3.84 billion in fiscal year 2025 (operating cash flow of $8.34 billion minus capital spending of $4.50 billion).

MoreDelta Air Lines stock overviewDelta Air Lines executive teamDelta Air Lines shareholdersDelta Air Lines revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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