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Delta Air Lines DAL Air traffic liability — Liabilities and deferred revenue

Other product segments

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$435M+6.9%

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Other financials

Income statement

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Revenue$19.8B+18.7%
Operating income$1.9B-11.3%
Net income$1.6B-24.7%
EPS (diluted)$2.44-25.4%

Balance sheet

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Cash & equivalents$4.8B+35.3%
Total debt$18.9B-8.1%
Total equity$21.8B+25.1%
Total assets$86.3B+10.1%

Cash flow

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Operating cash flow$1.6B-14.1%

Valuation

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Market cap$58.26B+67.7%
Enterprise value$72.42B+25.8%
P/E14.8×+7.0×
P/S0.9×+0.3×

Profitability

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Operating margin8.1%-1.3pp
Net margin5.8%-1.5pp

Returns & leverage

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Return on equity20.1%-9.9pp
Debt / equity-0.4×
Current ratio0.4×0.0×

Where this comes from

Reported directly by Delta Air Lines in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInContractWithCustomerLiability.

The official record: Delta Air Lines’s 10-K, filed February 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Delta Air Lines's air traffic liability — liabilities and deferred revenue?
Delta Air Lines (DAL) reported air traffic liability — liabilities and deferred revenue of $15.75M in Q4 2025.
How has Delta Air Lines's air traffic liability — liabilities and deferred revenue changed year-over-year?
Delta Air Lines's air traffic liability — liabilities and deferred revenue increased by 26.0% year-over-year, from $12.5M to $15.75M.
What is the long-term trend for Delta Air Lines's air traffic liability — liabilities and deferred revenue?
Over 4 years (2021 to 2025), Delta Air Lines's air traffic liability — liabilities and deferred revenue has grown at a -56.8% compound annual growth rate (CAGR), from $1.81B to $63M.
What does air traffic liability — liabilities and deferred revenue mean?
This metric represents the balance of advance ticket sales and other passenger-related obligations for which the airline has received payment but has not yet provided the transportation service. It serves as a critical indicator of future revenue recognition and reflects the volume of bookings made by customers for upcoming travel. As a liability, it tracks the company's obligation to fulfill these travel commitments in future reporting periods.