# Delta Air Lines, Inc.: overview

DAL · NYSE · CIK 27904 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/dal.md) · [Financials](/companies/dal/financials.md) · [Filings](/companies/dal/filings.md) · [Insiders](/companies/dal/insiders.md)

Latest reported revenue: [$20.19bn](/filings/0000027904-26-000038.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 9, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000027904-26-000038).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [15.6 d](/filings/0000027904-26-000013.md) | [14.0](/filings/0000027904-26-000022.md) | [16.6](/filings/0000027904-26-000031.md) | [16.7](/filings/0000027904-26-000038.md) | [16.0 d](/filings/0000027904-26-000013.md) | [15.9](/filings/0000027904-26-000022.md) | [19.8](/filings/0000027904-26-000031.md) | [20.2](/filings/0000027904-26-000038.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [11.0% d](/filings/0000027904-26-000013.md) | [4.1%](/filings/0000027904-26-000022.md) | [12.6%](/filings/0000027904-26-000031.md) | [10.1%](/filings/0000027904-26-000038.md) | [9.2% d](/filings/0000027904-26-000013.md) | [3.2%](/filings/0000027904-26-000022.md) | [9.4%](/filings/0000027904-26-000031.md) | [7.2%](/filings/0000027904-26-000038.md) |
| Net margin | % | [5.4% d](/filings/0000027904-26-000013.md) | [1.7%](/filings/0000027904-26-000038.md) | [12.8%](/filings/0000027904-26-000038.md) | [8.5%](/filings/0000027904-26-000038.md) | [7.6% d](/filings/0000027904-26-000013.md) | [(1.8%)](/filings/0000027904-26-000038.md) | [8.1%](/filings/0000027904-26-000038.md) | [3.7%](/filings/0000027904-26-000038.md) |
| Diluted EPS | $ per share | not reported | [0.37](/filings/0000027904-26-000022.md) | [3.27](/filings/0000027904-26-000031.md) | [2.17](/filings/0000027904-26-000038.md) | not reported | [(0.44)](/filings/0000027904-26-000022.md) | [2.44](/filings/0000027904-26-000031.md) | [1.15](/filings/0000027904-26-000038.md) |
| Free cash flow | $bn | [0.6 d](/filings/0000027904-26-000013.md) | [1.2](/filings/0000027904-26-000022.md) | [0.6 d](/filings/0000027904-26-000031.md) | [0.7 d](/filings/0000027904-26-000038.md) | [1.4 d](/filings/0000027904-26-000013.md) | [1.2](/filings/0000027904-26-000022.md) | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [29.9](/filings/0000027904-24-000003.md) | [50.6](/filings/0000027904-25-000004.md) | [58.0](/filings/0000027904-26-000013.md) | [61.6](/filings/0000027904-26-000013.md) | [63.4](/filings/0000027904-26-000013.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [6.3%](/filings/0000027904-24-000003.md) | [7.2%](/filings/0000027904-25-000004.md) | [9.5%](/filings/0000027904-26-000013.md) | [9.7%](/filings/0000027904-26-000013.md) | [9.2%](/filings/0000027904-26-000013.md) |
| Net margin | % | [0.9%](/filings/0000027904-24-000003.md) | [2.6%](/filings/0000027904-25-000004.md) | [7.9%](/filings/0000027904-26-000013.md) | [5.6%](/filings/0000027904-26-000013.md) | [7.9%](/filings/0000027904-26-000013.md) |
| Diluted EPS | $ per share | [0.44](/filings/0000027904-24-000003.md) | [2.06](/filings/0000027904-25-000004.md) | [7.17](/filings/0000027904-26-000013.md) | [5.33](/filings/0000027904-26-000013.md) | [7.66](/filings/0000027904-26-000013.md) |
| Free cash flow | $bn | [0.0](/filings/0000027904-24-000003.md) | [(0.0)](/filings/0000027904-25-000004.md) | [1.1](/filings/0000027904-26-000013.md) | [2.9](/filings/0000027904-26-000013.md) | [3.8](/filings/0000027904-26-000013.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/dal/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2020-04-02 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 49,303 | $24.5315 | $1.2m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-04-02 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 2,461,432 | $23.859 | $58.7m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-04-02 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 2,727,703 | $22.9646 | $62.6m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-04-01 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 669,041 | $26.0368 | $17.4m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-04-01 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 3,244,166 | $25.2729 | $82.0m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-04-01 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Sale (S) | 3,834,559 | $24.0428 | $92.2m | [Form 4](/filings/0001209191-20-023250.md) |
| 2020-02-27 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 161,860 | $47.1442 | $7.6m | [Form 4](/filings/0001209191-20-014758.md) |
| 2020-02-27 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 607,163 | $46.5137 | $28.2m | [Form 4](/filings/0001209191-20-014758.md) |
| 2020-02-27 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 207,484 | $45.4798 | $9.4m | [Form 4](/filings/0001209191-20-014758.md) |
| 2019-03-11 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 6,500 | $49.9382 | $324.6k | [Form 4](/filings/0001209191-19-019205.md) |
| 2019-03-08 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 2,345,077 | $49.3728 | $115.8m | [Form 4](/filings/0001209191-19-018303.md) |
| 2019-03-07 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 3,600 | $49.7716 | $179.2k | [Form 4](/filings/0001209191-19-018303.md) |
| 2019-03-07 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 1,817,318 | $49.2722 | $89.5m | [Form 4](/filings/0001209191-19-018303.md) |
| 2019-03-06 | [Berkshire Hathaway Inc](/insiders/1067983.md) | 10% owner | Purchase (P) | 1,202,961 | $49.6514 | $59.7m | [Form 4](/filings/0001209191-19-018303.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Berkshire Hathaway Inc](/funds/1067983.md) | 2026-06-30 | $5.37bn | 57,320,000 |  | Added +17,510,544 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $4.22bn | 45,106,139 |  | Added +981,365 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $3.87bn | 41,307,000 |  | Reduced −637,003 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $3.11bn | 33,187,319 |  | Added +5,683,286 |
| [Sanders Capital, LLC](/funds/1508097.md) | 2026-06-30 | $2.73bn | 29,129,629 |  | Reduced −337,526 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $2.47bn | 26,329,259 |  | Reduced −1,053,825 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $2.26bn | 24,129,558 |  | Added +669,444 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $1.94bn | 20,689,945 |  | Added +119,654 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $1.75bn | 18,511,900 |  | Added +541,325 |
| [PRIMECAP MANAGEMENT CO/CA/](/funds/763212.md) | 2026-06-30 | $1.64bn | 17,521,167 |  | Reduced −27,400 |

## Recent filings

[All 1,909 filings](/companies/dal/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-09 | 16:22 ET | [10-Q](/filings/0000027904-26-000038.md) | Quarterly report, period 2026-09-30 | 0000027904-26-000038 |
| 2026-10-09 | 06:30 ET | [8-K](/filings/0000027904-26-000035.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000027904-26-000035 |
| 2026-07-10 | 16:17 ET | [10-Q](/filings/0000027904-26-000031.md) | Quarterly report, period 2026-06-30 | 0000027904-26-000031 |
| 2026-07-10 | 06:30 ET | [8-K](/filings/0000027904-26-000029.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000027904-26-000029 |
| 2026-06-22 | 16:30 ET | [8-K](/filings/0001683168-26-005025.md) | 5.07 Shareholder vote results | 0001683168-26-005025 |
| 2026-06-12 | 16:30 ET | [8-K](/filings/0001683168-26-004816.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation | 0001683168-26-004816 |
| 2026-06-02 | 17:30 ET | [SCHEDULE 13D/A](/filings/0001683168-26-004467.md) | Ownership report, active investor, amended | 0001683168-26-004467 |
| 2026-04-24 | 16:30 ET | [DEF 14A](/filings/0001308179-26-000345.md) | Proxy statement, period 2026-06-18 | 0001308179-26-000345 |
| 2026-04-08 | 16:21 ET | [10-Q](/filings/0000027904-26-000022.md) | Quarterly report, period 2026-03-31 | 0000027904-26-000022 |
| 2026-04-08 | 06:30 ET | [8-K](/filings/0000027904-26-000020.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000027904-26-000020 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000027904-26-000013.md), filed Feb 11, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 27904
- Tickers: DAL
- Exchange: NYSE
- SIC code: 4512 Air Transportation, Scheduled
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 17:08 ET. No prices; not investment advice.