Delta Air Lines

Industrials Passenger Airlines Atlanta, Georgia Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2025
                
$63.4B
                    3y CAGR +7.8%
                    
                    P68
                    
                    +2.8%
                    
                    Net income
                    FY2025
                
$5.0B
                    Net margin +7.9%
                    
                    P28
                    
                    +44.8%
                    
                    Total assets
                    FY2025
                
$81.3B
                    ROA +6.2%
                    
                    P32
                    
                    +7.9%
                    
                    Operating cash flow
                    FY2025
                
$8.3B
                    
                    +4.0%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $81.3B

Total liabilities $27.6B

Shareholders equity $20.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-14.1%	-27.1%	-41.2%	-58.8%	—
Short Term Investments	—	—	-42.3%	-3.5%	—
Accounts Receivable	+4.3%	+10.3%	+14.1%	+32.1%	—
Inventory	+0.4%	-3.3%	-8.7%	-9.7%	—
Prepaid Expenses	+18.5%	+23.8%	+32.2%	+67.7%	—
Other Current Assets	+35.8%	+27.8%	+14.1%	-28.2%	—
Total Current Assets	-8.9%	-14.8%	-19.7%	-18.4%	—
Property,Plant and Equipment	+8.4%	+9.4%	+11.1%	+15.2%	—
Operating Lease Assets	-3.6%	-2.8%	-1.6%	-2.8%	—
Goodwill	+0.0%	+0.0%	+0.0%	+0.0%	—
Intangible Assets	-0.1%	-0.1%	-0.2%	-0.1%	—
Other Noncurrent Assets	+35.8%	+27.8%	+14.1%	-28.2%	—
Total Assets	+2.9%	+1.3%	+0.8%	-0.2%	—
Liabilities
Accounts Payable	+5.4%	+3.1%	+2.4%	+20.4%	—
Accrued Liabilities	+2.7%	+1.2%	-3.8%	+1.9%	—
Current Portion of Long Term Debt	-2.2%	+6.2%	+32.2%	+36.8%	—
Operating Lease Liabilities	+3.6%	+2.8%	+3.9%	+1.6%	—
Other Current Liabilities	-2.4%	-5.2%	-10.0%	-9.6%	—
Total Current Liabilities	+7.1%	+8.4%	+12.3%	+23.7%	—
Long Term Debt	-15.7%	-16.9%	-17.7%	-18.0%	—
Operating Lease Liabilities Noncurrent	-6.7%	-6.2%	-4.3%	-2.7%	—
Deferred Tax Liabilities	-17.1%	-33.2%	-64.7%	+8.8%	—
Other Noncurrent Liabilities	-2.4%	-5.2%	-10.0%	-9.6%	—
Total Liabilities	+7.1%	+8.4%	+12.3%	+23.7%	—
Equity
Common Stock	—	—	—	—	—
Additional Paid In Capital	+0.9%	+0.8%	+0.8%	+0.7%	—
Retained Earnings	—	—	—	—	—
Treasury Stock	-4.2%	-3.8%	—	+11.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	+52.2%	+57.9%	+69.0%	+69.3%	—
Total Liabilitiesand Equity	+2.9%	+1.3%	+0.8%	-0.2%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $63.4B

Operating income $5.8B

Net income $5.0B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+20.7%	+27.3%	+39.3%	+69.2%	—
Expenses Cost of Revenue	+19.7%	+25.7%	+36.9%	+67.5%	—
Expenses Selling,General and Administrative	+27.1%	+37.6%	+56.5%	+98.4%	—
Expenses Depreciation and Amortization	+5.2%	+7.9%	+8.2%	+5.5%	—
Expenses Share Based Compensation	+20.4%	+16.6%	+9.9%	+0.7%	—
Expenses Operating Expenses	+19.7%	+25.7%	+36.9%	+67.5%	—
Other Income Expense Operating Income	+32.6%	+47.0%	+71.1%	+94.1%	—
Other Income Expense Interest Expense	-9.4%	-0.6%	-12.6%	-18.2%	—
Other Income Expense Other Income/expense	—	—	—	—	—
Other Income Expense Income Before Tax	+98.5%	+127.0%	+275.4%	+380.9%	—
Income Tax Income Tax Expense	+77.8%	+116.7%	+191.0%	+405.1%	—
net Income net Income	+105.6%	+131.1%	+305.7%	+370.7%	—
net Income Comprehensive Income	+27.9%	+25.5%	+44.4%	+21.0%	—
Earnings Per Share Basic Eps	+104.7%	+130.5%	+304.8%	+370.5%	—
Earnings Per Share Diluted Eps	+104.3%	+129.7%	+303.7%	+368.2%	—
Earnings Per Share Weighted Average Shares Basic	+0.5%	+0.3%	+0.2%	+0.3%	—
Earnings Per Share Weighted Average Shares Diluted	+0.5%	+0.4%	+0.2%	+0.0%	—

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $8.3B

Investing cash flow $-4.2B

Financing cash flow $-3.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+105.6%	+131.1%	+305.7%	+370.7%	—
Operating Activities Depreciation and Amortization	+5.2%	+7.9%	+8.2%	+5.5%	—
Operating Activities Stock Based Compensation	+20.4%	+16.6%	+9.9%	+0.7%	—
Operating Activities Deferred Income Taxes	+76.2%	+115.8%	+191.9%	+413.9%	—
Operating Activities Changes In Operating Assets and Liabilities	-16.5%	-13.8%	—	+214.9%	—
Operating Activities Other Non Cash Items	—	-27.0%	—	—	—
Operating Activities net Cash From Operating Activities	+26.4%	+35.0%	+40.7%	+94.9%	—
Investing Activities Other Investing Activities	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+3.9%	—	-32.1%	—	—
Financing Activities Dividends Paid	—	—	—	—	—
Financing Activities Other Financing Activities	—	-44.1%	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	-14.9%	-26.4%	-37.1%	-59.5%	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	-14.9%	-26.4%	-37.1%	-59.5%	—
Cash Reconciliation Cash At End of Period	-14.9%	-26.4%	-37.1%	-59.5%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+9.2%	+9.7%	+9.5%	+7.2%	+6.3%
Operating margin	+9.2%	+9.7%	+9.5%	+7.2%	+6.3%
Net margin	+7.9%	+5.6%	+7.9%	+2.6%	+0.9%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+7.8%	+27.3%	+50.3%	+2.5%	-12.4%
Returns
ROE	+24.0%	+22.6%	+41.5%	+20.0%	+7.2%
ROA	+6.2%	+4.6%	+6.3%	+1.8%	+0.4%
ROIC	+15.8%	+16.1%	+16.8%	+10.2%	+6.3%
Liquidity
Current ratio	0.40x	0.37x	0.39x	0.50x	0.76x
Quick ratio	0.26x	0.24x	0.22x	0.25x	0.49x
Leverage
D/E	1.32x	1.74x	2.38x	3.94x	5.39x
Interest coverage	157.35x	111.02x	131.45x	81.36x	34.29x
Efficiency
Asset turnover	0.78x	0.82x	0.79x	0.70x	0.41x
Cash conversion cycle	-7d	-2d	-2d	-6d	-5d

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Delta Air Lines

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