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Delta Air Lines, Inc. (DAL) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for DAL. Market data source · as of 2026-06-30.

Section freshness

Price Aug 19, 11:12 AM EDT · Statements Jun 29, 8:00 PM EDT

Financial read

DAL latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$19.76B

+18.7% YoY

Net income

$1.60B

+655.0% QoQ

Net margin

8.12%

Operating margin 9.43%

Balance sheet coverage

DAL balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-06-30

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$86.32B

Liabilities —

Cash / debt

$4.67B

Net cash -$8.24B

Equity / working capital

$21.82B

Working capital -$19.37B

Financial statements

DAL statement coverage.

Income statement, balance sheet, and cash-flow figures for DAL, with quarterly and annual history in the tables below.

Data last updated

Jun 29, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual DAL statements, sourced from Market data source · as of 2026-06-30.

Financial statement period

DAL statement history

Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q2 FY2026	$19.76B	$1.86B	$1.60B	8.12%	+24.6%	+655.0%
Q1 FY2026	$15.85B	$501.00M	-$289.00M	-1.82%	-0.9%	-123.7%
Q4 FY2025	$16.00B	$1.47B	$1.22B	7.61%	-4.0%	-14.0%
Q3 FY2025	$16.67B	$1.68B	$1.42B	8.50%	+0.2%	-33.5%
Q2 FY2025	$16.65B	$2.10B	$2.13B	12.79%	+18.6%	+787.5%
Q1 FY2025	$14.04B	$569.00M	$240.00M	1.71%	-9.8%	-71.5%
Q4 FY2024	$15.56B	$1.72B	$843.00M	5.42%	-0.7%	-33.7%
Q3 FY2024	$15.68B	$1.40B	$1.27B	8.11%	-5.9%	-2.5%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total debt	Total equity	Debt QoQ
Q2 FY2026	$4.67B	$14.24B	$33.60B	$86.32B	$12.90B	$21.82B	-2.5%
Q1 FY2026	$5.05B	$13.66B	$32.70B	$84.43B	$13.23B	$20.38B	-0.5%
Q4 FY2025	$4.31B	$10.97B	$27.62B	$81.32B	$13.31B	$20.85B	-6.1%
Q3 FY2025	$3.79B	$11.23B	$28.25B	$79.62B	$14.17B	$18.82B	-1.4%
Q2 FY2025	$3.33B	$10.98B	$28.55B	$78.39B	$14.38B	$17.44B	-4.6%
Q1 FY2025	$3.71B	$11.24B	$29.70B	$77.34B	$15.08B	$15.45B	-1.8%
Q4 FY2024	$3.07B	$9.84B	$26.67B	$75.37B	$15.35B	$15.29B	-7.4%
Q3 FY2024	$3.97B	$11.06B	$28.12B	$75.37B	$16.58B	$13.65B	-1.2%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	Net income	Dividends paid
Q2 FY2026	$1.59B	$1.60B	$123.00M
Q1 FY2026	$2.43B	-$289.00M	$129.00M
Q4 FY2025	$2.26B	$1.22B	$122.00M
Q3 FY2025	$1.85B	$1.42B	$122.00M
Q2 FY2025	$1.86B	$2.13B	$97.00M
Q1 FY2025	$2.38B	$240.00M	$99.00M
Q4 FY2024	$1.89B	$843.00M	$96.00M
Q3 FY2024	$1.27B	$1.27B	$97.00M

Valuation and returns

Enterprise value: $73.80B; Market data source

Return on equity: 19.33%; Market data source

Return on assets: 4.58%; Market data source

Debt / equity: 0.59; Current ratio 0.42

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $63.36B; Annual statement 2025-12-31

Annual income base: $5.00B; Annual statement 2025-12-31

Market cap / annual revenue: 0.92; Live market value divided by annual revenue

Market cap / annual income: 11.68; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue1.16

EV / annual operating income12.68

Market capitalization bridge

Market cap / annual revenue0.92

Market cap / annual income11.68

TTM valuation multiples

TTM revenue: $68.29B; Trailing twelve months

TTM EBIT: $5.52B; TTM operating income

Market cap / TTM revenue: 0.86; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 1.08; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income14.80

EV / TTM EBIT13.38

Revenue, net income, and free cash flow

Revenue$19.76BNet income$1.60B

Q1 FY2025Q4 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Revenue / employee: $662,980.583; 103,000 employees

Net income / employee: $38,349.515; TTM net income divided by employees

Market cap / employee: $567,758.498; Live value per employee

Growth vs cost pressure

Revenue growth YoY+18.7%

Debt growth YoY-10.3%

Quarterly margin heatmap

Gross margin

Q1 FY2025

—

Q2 FY2025

—

Q3 FY2025

—

Q4 FY2025

—

Q1 FY2026

—

Q2 FY2026

—

Operating margin

Q1 FY2025

4.05%

Q2 FY2025

12.63%

Q3 FY2025

10.10%

Q4 FY2025

9.17%

Q1 FY2026

3.16%

Q2 FY2026

9.43%

Net margin

Q1 FY2025

1.71%

Q2 FY2025

12.79%

Q3 FY2025

8.50%

Q4 FY2025

7.61%

Q1 FY2026

-1.82%

Q2 FY2026

8.12%

Profit bridge

EBIT$1.86B

Pretax income$2.01B

Tax expense$405.00M

Other income statement lines

Income before tax$2.01B

Income tax expense$405.00M

Balance sheet · Q2 FY2026

Cash & equivalents: $4.67B

Total debt: $12.90B

Net cash: -$8.24B; Net debt position

Total equity: $21.82B

Balance sheet detail

Current assets: $14.24B

Current liabilities: $33.60B

Current debt: $2.80B

Long-term debt: $10.10B

Debt and liquidity

Debt / revenuei0.19

Debt / income3.27

Cash / debt0.36

Quick ratioi0.14

Cash + short-term investments + receivables / current liabilities

Cash generation

Operating cash flow: $1.59B

Capital returned: $123.00M; Buybacks + dividends paid

Cash-flow detail

Depreciation & amortization: $656.00M

Investing cash flow: -$1.51B

Financing cash flow: -$545.00M

Dividends paid: $123.00M

Frequently asked

Common questions.

What financial data is available for DAL?

The DAL Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for Delta Air Lines, Inc.. Missing modules and empty line items are omitted.

How current are DAL's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is Delta Air Lines, Inc.'s reported net margin?

Delta Air Lines, Inc.'s fresh reported margin field is 5.79%. The Financials page shows the supporting period data currently available for DAL.