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Delta Air Lines DAL Q4 2025 Annual earnings

Reported January 13, 2026 · Before market open

Revenue$14.6BMiss by $76.1M
EPS$1.55Beat by $0.02
Revenue estimate$14.7B
EPS estimate$1.53

Next report

Oct 9, 2026 (In 6 days)
Revenue estimate$17.6B
EPS estimate$1.88

Financials

Q4 2025

Income statement

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Revenue$16.0B+2.9%
Operating income$1.5B-14.6%
Net income$1.2B+44.6%
EPS (diluted)$1.86+44.2%

Balance sheet

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Cash & equivalents$4.5B+31.6%
Total debt$20.3B-11.0%
Total equity$20.9B+36.4%
Total assets$81.3B+7.9%

Cash flow

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Operating cash flow$2.3B+19.3%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$45.32B+16.1%
Enterprise value$61.09B+4.6%
P/E9.1×-2.2×
P/S0.7×+0.1×

Profitability

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Operating margin9.2%-0.5pp
Net margin7.9%+2.3pp

Returns & leverage

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Return on equity27.7%+1.5pp
Debt / equity1×-0.5×
Current ratio0.4×0.0×

Segments

By product

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Refinery$1.4B+24.5%
Loyalty and related$853.0M+0.8%
Miscellaneous$364.0M+17.4%
MRO$227.0M+4.1%

By segment

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Airline$14.6B+1.2%
Refinery$1.7B-0.5%

FAQ

When did Delta Air Lines report Q4 2025 earnings?
Delta Air Lines (DAL) reported Q4 2025 earnings on January 13, 2026 before market open.
What were Delta Air Lines's Q4 2025 revenue and EPS?
Delta Air Lines reported revenue of $14.6B and eps of $1.55 for Q4 2025.
Did Delta Air Lines beat estimates in Q4 2025?
Revenue missed the consensus estimate of $14.7B by $76.1M. EPS beat the consensus estimate of $1.53 by $0.02.
How did Delta Air Lines's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 6.1% from $15.6B a year earlier and eps declined 16.2% from $1.85.
Where can I find Delta Air Lines's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000027904-26-000008) and the 10-K periodic report (0000027904-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.