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Delta Air Lines DAL Operating margin

Operating margin at other companies

Southwest Airlines logo
Southwest AirlinesLUV
3.4%+1.6pp
United Airlines Holdings logo
United Airlines HoldingsUAL
8.4%-1.3pp
General Dynamics logo
General DynamicsGD
10.2%0.0pp
Valero Energy logo
Valero EnergyVLO
4.7%+3.7pp
Oneok logo
OneokOKE
16.9%-3.7pp

Other financials

Income statement

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Revenue$15.9B+12.9%
Operating income$501.0M-12.0%
Net income-$289.0M-220%
EPS (diluted)-$0.44-219%

Balance sheet

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Cash & equivalents$5.2B+32.8%
Total debt$19.4B-10.0%
Total equity$20.4B+31.9%
Total assets$84.4B+9.2%

Cash flow

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Operating cash flow$2.4B+2.3%

Valuation

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Market cap$54.04B+54.2%
Enterprise value$68.17B+25.8%
P/E12.1×+2.5×
P/S0.8×+0.3×

Profitability

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Net margin6.9%+1.0pp

Returns & leverage

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Return on equity25%-2.5pp
Debt / equity-0.4×
Current ratio0.4×0.0×

Where this comes from

Calculated from Delta Air Lines’s reported figures.

Based on trailing twelve months.

The official record: Delta Air Lines’s 10-Q, filed April 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Delta Air Lines's operating margin?
Delta Air Lines (DAL) reported operating margin of 8.8% in Q1 2026.
How has Delta Air Lines's operating margin changed year-over-year?
Delta Air Lines's operating margin decreased by 8.1% year-over-year, from 9.6% to 8.8%.
What is the long-term trend for Delta Air Lines's operating margin?
Over 4 years (2021 to 2025), Delta Air Lines's operating margin has grown at a -27.9% compound annual growth rate (CAGR), from -139.7% to 37.8%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.