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Delta Air Lines DAL Loyalty and related — Loyalty program deferred revenue

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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$55.94B+54.1%
Enterprise value$70.1B+25.8%
P/E14.2×+6.1×
P/S0.8×+0.2×

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:ContractWithCustomerLiabilityNoncurrent.

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

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Questions, answered.

What is Delta Air Lines's loyalty and related — loyalty program deferred revenue?
Delta Air Lines (DAL) reported loyalty and related — loyalty program deferred revenue of $4.33B in Q2 2026.
How has Delta Air Lines's loyalty and related — loyalty program deferred revenue changed year-over-year?
Delta Air Lines's loyalty and related — loyalty program deferred revenue decreased by 5.4% year-over-year, from $4.57B to $4.33B.
What is the long-term trend for Delta Air Lines's loyalty and related — loyalty program deferred revenue?
Over 4 years (2021 to 2025), Delta Air Lines's loyalty and related — loyalty program deferred revenue has grown at a -1.6% compound annual growth rate (CAGR), from $19.18B to $17.98B.
What does loyalty and related — loyalty program deferred revenue mean?
This represents the total obligation related to loyalty program miles or points that have been earned by customers but not yet redeemed. It serves as a measure of the total outstanding liability the company holds toward its loyalty program members. This balance is critical for understanding the long-term financial commitment to the loyalty ecosystem.