Delta Air Lines, Inc. (DAL) stock
DALNYSEAir Transportation, ScheduledFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 9, 2026Score 9/3024% above fair value
$91.32−0.88 (-0.95%)
Close on Nov 11, 2026Market cap $60.08BP/E 18.2Yield 0.74%
Delta Air Lines operating margin
Operating margin is operating income as a percentage of revenue.
Delta Air Lines's operating margin for the twelve months ending Sep 30, 2026 was 7.4%. For fiscal 2025 it was 9.2%, against 9.7% the year before. The highest annual figure on record is 19.2% in fiscal 2015.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 9.2% | −0.5 |
| FY2024 | Dec 31, 2024 | 9.7% | +0.2 |
| FY2023 | Dec 31, 2023 | 9.5% | +2.3 |
| FY2022 | Dec 31, 2022 | 7.2% | +0.9 |
| FY2021 | Dec 31, 2021 | 6.3% | +79.2 |
| FY2020 | Dec 31, 2020 | -72.9% | −87.0 |
| FY2019 | Dec 31, 2019 | 14.1% | +2.2 |
| FY2018 | Dec 31, 2018 | 11.8% | −2.7 |
| FY2017 | Dec 31, 2017 | 14.5% | −3.2 |
| FY2016 | Dec 31, 2016 | 17.7% | −1.4 |
| FY2015 | Dec 31, 2015 | 19.2% | +13.7 |
| FY2014 | Dec 31, 2014 | 5.5% | −3.5 |
| FY2013 | Dec 31, 2013 | 9.0% | +3.1 |
| FY2012 | Dec 31, 2012 | 5.9% | +0.3 |
| FY2011 | Dec 31, 2011 | 5.6% | −1.4 |
| FY2010 | Dec 31, 2010 | 7.0% | +8.1 |
| FY2009 | Dec 31, 2009 | -1.2% | +35.5 |
| FY2008 | Dec 31, 2008 | -36.6% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 7.2% | −2.9 |
| Q2 FY2026 | Jun 30, 2026 | 9.4% | −3.2 |
| Q1 FY2026 | Mar 31, 2026 | 3.2% | −0.9 |
| Q4 FY2025 | Dec 31, 2025 | 9.2% | −1.9 |
| Q3 FY2025 | Sep 30, 2025 | 10.1% | +1.2 |
| Q2 FY2025 | Jun 30, 2025 | 12.6% | −1.0 |
| Q1 FY2025 | Mar 31, 2025 | 4.1% | −0.4 |
| Q4 FY2024 | Dec 31, 2024 | 11.0% | +1.7 |
| Q3 FY2024 | Sep 30, 2024 | 8.9% | −3.9 |
| Q2 FY2024 | Jun 30, 2024 | 13.6% | −2.4 |
| Q1 FY2024 | Mar 31, 2024 | 4.5% | +6.6 |
| Q4 FY2023 | Dec 31, 2023 | 9.3% | −1.6 |
| Q3 FY2023 | Sep 30, 2023 | 12.8% | +2.4 |
| Q2 FY2023 | Jun 30, 2023 | 16.0% | +5.0 |
| Q1 FY2023 | Mar 31, 2023 | -2.2% | +6.2 |
| Q4 FY2022 | Dec 31, 2022 | 10.9% | +8.2 |
| Q3 FY2022 | Sep 30, 2022 | 10.4% | −13.7 |
| Q2 FY2022 | Jun 30, 2022 | 11.0% | −0.5 |
| Q1 FY2022 | Mar 31, 2022 | -8.4% | +25.3 |
| Q4 FY2021 | Dec 31, 2021 | 2.8% | +24.4 |
| Q3 FY2021 | Sep 30, 2021 | 24.1% | +232.6 |
| Q2 FY2021 | Jun 30, 2021 | 11.5% | +339.4 |
| Q1 FY2021 | Mar 31, 2021 | -33.7% | −28.9 |
| Q4 FY2020 | Dec 31, 2020 | -21.6% | −33.8 |
| Q3 FY2020 | Sep 30, 2020 | -208.6% | −225.0 |
| Q2 FY2020 | Jun 30, 2020 | -328.0% | −345.0 |
| Q1 FY2020 | Mar 31, 2020 | -4.8% | −14.5 |
| Q4 FY2019 | Dec 31, 2019 | 12.2% | +2.1 |
| Q3 FY2019 | Sep 30, 2019 | 16.5% | +2.7 |
| Q2 FY2019 | Jun 30, 2019 | 17.0% | +2.7 |
| Q1 FY2019 | Mar 31, 2019 | 9.7% | +1.3 |
| Q4 FY2018 | Dec 31, 2018 | 10.1% | −1.2 |
| Q3 FY2018 | Sep 30, 2018 | 13.8% | −2.7 |
| Q2 FY2018 | Jun 30, 2018 | 14.3% | −4.1 |
| Q1 FY2018 | Mar 31, 2018 | 8.5% | −2.5 |
| Q4 FY2017 | Dec 31, 2017 | 11.4% | +0.6 |
| Q3 FY2017 | Sep 30, 2017 | 16.5% | – |
| Q2 FY2017 | Jun 30, 2017 | 18.4% | – |
| Q1 FY2017 | Mar 31, 2017 | 11.0% | – |
| Q4 FY2016 | Dec 31, 2016 | 10.8% | – |
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