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Companies / Industrials / Delta Air Lines
DAL

Delta Air Lines

IndustrialsAir TransportationS&P 500
Ticker DALATLANTA, GAFiscal year ends DecemberBook value per share $34.27Diluted shares 657.0M

Delta Air Lines, Inc. (NYSE: DAL) is a global airline that transports passengers and cargo through its own network and regional carrier arrangements, serving customers in domestic and international markets. Its offerings include main-cabin and premium air travel, Delta Connection regional flights, cargo services, the… From the company’s description.

In fiscal 2025, Delta Air Lines reported revenue of $63.36B, up 2.8% from fiscal 2024, and net income of $5.00B. Its operating margin was 9.2%, and operations generated $8.34B in cash. Over the twelve months to Sep 30, 2026, revenue was $71.80B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$63.36BFY2025
+2.8% year over year
Last 12 mo $71.80B
9.19%FY2025
−0.5 percentage points
Last 12 mo 7.36%
$5.00BFY2025
+44.8% year over year
24.00%FY2025
+1.4 percentage points
Last 12 mo 14.61%
Cash & financing
$8.34BFY2025
+4.0% year over year
Last 12 mo $8.00B
$3.84BFY2025
+33.2% year over year
Last 12 mo $3.02B
0.68FY2025
Was 1.06× a year earlier
Last 12 mo 0.57
654.0MFY2025
+0.9% year over year
Last 12 mo 657.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Delta Air Lines does

In the company’s own words

Delta Air Lines, Inc. (NYSE: DAL) is a global airline that transports passengers and cargo through its own network and regional carrier arrangements, serving customers in domestic and international markets. Its offerings include main-cabin and premium air travel, Delta Connection regional flights, cargo services, the SkyMiles loyalty program, vacation packages through Delta Vacations, and aircraft maintenance services through Delta TechOps. Delta also operates Monroe Energy, which runs a refinery and related logistics assets that supply jet fuel to the airline and produce other refined products. Delta reports airline and refinery operations as separate segments. Its network is supplemented by commercial partnerships and joint ventures with international airlines, and it is a member of the SkyTeam alliance. At December 31, 2025, Delta operated a fleet of 1,314 aircraft and had approximately 103,000 full-time equivalent employees; it served more than 200 million customers during 2025. Major brands include Delta One, First Class, Delta Premium Select, Delta Comfort+, SkyMiles and Delta Connection. Its website is http://ir.delta.com/.

Company details
Sector
Industrials
Industry (SIC)
Air Transportation
Headquarters
ATLANTA, GA
Fiscal year end
December
CIK
27904
SIC
4512

Financial performance, year by year

Fiscal 2013–2025 · USD
$-20.80B$4.45B$29.71B$54.96B$80.22B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Delta Air Lines — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

844
funds hold it
3 of 35
superinvestors hold it
$22.48B
held by funds, at market
40.3%
of shares held by funds
21
bond issues held by funds

Superinvestors in Delta Air Lines · what they did last quarter

Warren BuffettINCREASED +44.0%
Berkshire Hathaway
1.8%of 13F portfolio
Bill NygrenDECREASED -3.7%
Harris Associates (Oakmark)
2.2%of 13F portfolio
Stanley DruckenmillerNEW
Duquesne Family Office
1.3%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Delta Air Lines’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.08%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.09%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.57%of fund net assets
—of fund net assets
VANGUARD PRIMECAP FUND
VPMCX · VANGUARD CHESTER FUNDS
0.92%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Delta Air Lines’s bonds, as funds hold them

Funds report holding 21 issues of Delta Air Lines’s debt, $1.00B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.66%, maturing 2027 to 2045.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Delta Air Lines and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Delta Air Lines's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Delta Air Lines's last four quarterly filings that the numbers alone won't show?”
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