DELTA AIR LINES, INC.
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 13,308 | 39.0 |
| Stockholders' equity | 20,853 | 61.0 |
| Total capitalization | 34,161 | 100.0 |
657,912,380 shares outstanding at 30 September 2026 (cover page of the 10-Q filed 9 October 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 13,308 |
| Long-term debt, noncurrent | 11,936 |
| Current maturities | 1,372 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,500,000,000 |
| Common shares issued | 659,669,346 |
| Treasury shares | 6,498,109 |
| Par or stated value per share ($) | 0.0001 |
| Outstanding at 9/30/26 | 657,912,380 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 0.68 | 8.8 |
| 2024 | 0.50 | 9.4 |
| 2023 | 0.20 | 2.8 |
| 2022 | 0.00 | 0.0 |
| 2021 | 0.00 | 0.0 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware. Formerly known as DELTA AIR LINES INC /DE/ (to 8 August 2019).
BUSINESS: Classified by the SEC under Standard Industrial Classification 4512, Air Transportation, Scheduled. Large accelerated filer. Principal executive office: Hartsfield-Jackson Atlanta Intl Airport, 1030 Delta Boulevard, Atlanta, GA 30354-1989. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 63,364 | 61,643 | 58,048 |
| Depreciation and amortization | 2,443 | 2,513 | 2,341 |
| Operating income | 5,822 | 5,995 | 5,521 |
| Income before income taxes | 6,185 | 4,658 | 5,608 |
| Income taxes | 1,180 | 1,201 | 999 |
| Net income | 5,005 | 3,457 | 4,609 |
| Earned per share, diluted ($) | 7.66 | 5.33 | 7.17 |
| Dividends per share ($) | 0.68 | 0.50 | 0.20 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 4,310 | 3,069 |
| Receivables, net | 2,850 | 3,224 |
| Total current assets | 10,968 | 9,844 |
| Property, plant and equipment, net | 39,743 | 37,595 |
| Goodwill | 9,753 | 9,753 |
| Total assets | 81,317 | 75,372 |
| Total current liabilities | 27,624 | 26,670 |
| Long-term debt | 11,936 | 13,546 |
| Stockholders' equity | 20,853 | 15,293 |
| Total liabilities and equity | 81,317 | 75,372 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 63,364 | 5,822 | 5,005 | 7.9 | 7.66 | 0.68 | 8,342 | 4,499 | 3,843 | 81,317 | 60,464d | 13,308 | 20,853 | 24.0 | 0.64 |
| 12/31/24 | 61,643 | 5,995 | 3,457 | 5.6 | 5.33 | 0.50 | 8,025 | 5,140 | 2,885 | 75,372 | 60,079d | 15,347 | 15,293 | 22.6 | 1.00 |
| 12/31/23 | 58,048 | 5,521 | 4,609 | 7.9 | 7.17 | 0.20 | 6,464 | 5,323 | 1,141 | 73,644 | 62,539d | 18,610 | 11,105 | 41.5 | 1.68 |
| 12/31/22 | 50,582 | 3,661 | 1,318 | 2.6 | 2.06 | 0.00 | 6,363 | 6,366 | (3) | 72,288 | 65,706d | 21,381 | 6,582 | 20.0 | 3.25 |
| 12/31/21 | 29,899 | 1,886 | 280 | 0.9 | 0.44 | 0.00 | 3,264 | 3,247 | 17 | 72,459 | 68,572d | 25,084 | 3,887 | 7.2 | 6.45 |
| 12/31/20 | 17,095 | (12,469) | (12,385) | -72.4 | (19.49) | 0.40 | (3,793) | 1,899 | (5,692) | 71,996 | 70,462d | 27,974 | 1,534 | -807.4 | 18.24 |
| 12/31/19 | 47,007 | 6,618 | 4,767 | 10.1 | 7.30 | 1.51 | 8,425 | 4,936 | 3,489 | 64,532 | 49,174d | 10,106 | 15,358 | 31.0 | 0.66 |
| 12/31/18 | 44,438 | 5,264 | 3,935 | 8.9 | 5.67 | 1.31 | 7,014 | 5,168 | 1,846 | 60,266 | 46,579d | 9,368 | 13,687 | 28.7 | 0.68 |
| 12/31/17 | 41,244 | 5,966 | 3,205 | 7.8 | 4.43 | 1.02 | 5,023 | 3,891 | 1,132 | 53,671 | 41,141d | 8,440 | 12,530 | 25.6 | 0.67 |
| 12/31/16 | 39,639 | 6,996 | 4,195 | 10.6 | 5.55 | 0.68 | 7,215 | 3,391 | 3,824 | 51,850 | 40,571d | 7,008 | 11,279 | 37.2 | 0.62 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
DELTA AIR LINES, INC.
CIK 27904 · EIN 58-0218548
PRINCIPAL OFFICE:
Hartsfield-Jackson Atlanta Intl Airport, 1030 Delta Boulevard, Atlanta, GA 30354-1989
Tel.: 4047152191
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
4512 · Air Transportation, Scheduled
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 11 February 2026
FORMER NAMES:
DELTA AIR LINES INC /DE/
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/11/26) · 10-K FY2024 (filed 2/11/25) · 10-K FY2023 (filed 2/12/24) · 10-K FY2022 (filed 2/10/23) · 10-K FY2021 (filed 2/11/22) · 10-K FY2020 (filed 2/12/21) · 10-K FY2019 (filed 2/13/20) · 10-K FY2018 (filed 2/15/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.