Delta Air Lines annual operating margin
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Delta Air Lines Operating Margin Growth & History (DAL)
Delta Air Lines's operating margin was 9.19% for fiscal 2025.
View full Delta Air Lines company overviewDelta Air Lines annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 9.19% | −0.54 pp |
| 2024 | 2024-12-31 | 9.73% | +0.21 pp |
| 2023 | 2023-12-31 | 9.51% | +2.27 pp |
| 2022 | 2022-12-31 | 7.24% | +0.93 pp |
| 2021 | 2021-12-31 | 6.31% | +79.25 pp |
| 2020 | 2020-12-31 | −72.94% | −87.02 pp |
| 2019 | 2019-12-31 | 14.08% | +2.23 pp |
| 2018 | 2018-12-31 | 11.85% | −2.66 pp |
| 2017 | 2017-12-31 | 14.50% | −3.23 pp |
| 2016 | 2016-12-31 | 17.73% | −1.43 pp |
| 2015 | 2015-12-31 | 19.17% | +13.70 pp |
| 2014 | 2014-12-31 | 5.47% | −3.54 pp |
| 2013 | 2013-12-31 | 9.00% | +3.07 pp |
| 2012 | 2012-12-31 | 5.93% | +0.31 pp |
| 2011 | 2011-12-31 | 5.62% | −1.36 pp |
| 2010 | 2010-12-31 | 6.98% | +8.14 pp |
| 2009 | 2009-12-31 | −1.15% | — |
Delta Air Lines quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 9.43% | −3.19 pp |
| Q1 2026 | 2026-03-31 | 3.16% | −0.89 pp |
| Q4 2025 | 2025-12-31 | 9.17% | −1.87 pp |
| Q3 2025 | 2025-09-30 | 10.10% | +1.19 pp |
| Q2 2025 | 2025-06-30 | 12.63% | −0.98 pp |
| Q1 2025 | 2025-03-31 | 4.05% | −0.41 pp |
| Q4 2024 | 2024-12-31 | 11.03% | +1.73 pp |
| Q3 2024 | 2024-09-30 | 8.91% | −3.90 pp |
| Q2 2024 | 2024-06-30 | 13.61% | −2.38 pp |
| Q1 2024 | 2024-03-31 | 4.47% | +6.64 pp |
| Q4 2023 | 2023-12-31 | 9.30% | −1.63 pp |
| Q3 2023 | 2023-09-30 | 12.81% | +2.39 pp |
| Q2 2023 | 2023-06-30 | 15.99% | +5.00 pp |
| Q1 2023 | 2023-03-31 | −2.17% | +6.21 pp |
| Q4 2022 | 2022-12-31 | 10.93% | +8.16 pp |
| Q3 2022 | 2022-09-30 | 10.42% | −13.67 pp |
| Q2 2022 | 2022-06-30 | 10.99% | −0.46 pp |
| Q1 2022 | 2022-03-31 | −8.38% | +25.31 pp |
| Q4 2021 | 2021-12-31 | 2.78% | +24.37 pp |
| Q3 2021 | 2021-09-30 | 24.09% | +232.64 pp |
| Q2 2021 | 2021-06-30 | 11.45% | +339.45 pp |
| Q1 2021 | 2021-03-31 | −33.69% | −28.91 pp |
| Q4 2020 | 2020-12-31 | −21.60% | −33.83 pp |
| Q3 2020 | 2020-09-30 | −208.56% | −225.05 pp |
| Q2 2020 | 2020-06-30 | −328.00% | −344.97 pp |
| Q1 2020 | 2020-03-31 | −4.77% | −14.51 pp |
| Q4 2019 | 2019-12-31 | 12.23% | +2.07 pp |
| Q3 2019 | 2019-09-30 | 16.49% | +2.73 pp |
| Q2 2019 | 2019-06-30 | 16.98% | +2.67 pp |
| Q1 2019 | 2019-03-31 | 9.74% | +1.27 pp |
| Q4 2018 | 2018-12-31 | 10.16% | −1.20 pp |
| Q3 2018 | 2018-09-30 | 13.76% | −2.72 pp |
| Q2 2018 | 2018-06-30 | 14.30% | −4.14 pp |
| Q1 2018 | 2018-03-31 | 8.47% | −2.51 pp |
| Q4 2017 | 2017-12-31 | 11.36% | −0.12 pp |
| Q3 2017 | 2017-09-30 | 16.48% | −2.30 pp |
| Q2 2017 | 2017-06-30 | 18.44% | −4.75 pp |
| Q1 2017 | 2017-03-31 | 10.98% | −5.67 pp |
| Q4 2016 | 2016-12-31 | 11.48% | −6.59 pp |
| Q3 2016 | 2016-09-30 | 18.78% | −1.14 pp |
| Q2 2016 | 2016-06-30 | 23.19% | +0.09 pp |
| Q1 2016 | 2016-03-31 | 16.65% | +1.76 pp |
| Q4 2015 | 2015-12-31 | 18.07% | +26.65 pp |
| Q3 2015 | 2015-09-30 | 19.92% | +12.45 pp |
| Q2 2015 | 2015-06-30 | 23.11% | +8.24 pp |
| Q1 2015 | 2015-03-31 | 14.89% | +7.94 pp |
| Q4 2014 | 2014-12-31 | −8.58% | −16.31 pp |
| Q3 2014 | 2014-09-30 | 7.47% | −7.43 pp |
| Q2 2014 | 2014-06-30 | 14.87% | +5.45 pp |
| Q1 2014 | 2014-03-31 | 6.95% | +4.34 pp |
| Q4 2013 | 2013-12-31 | 7.72% | +3.64 pp |
| Q3 2013 | 2013-09-30 | 14.90% | +1.72 pp |
| Q2 2013 | 2013-06-30 | 9.42% | +8.04 pp |
| Q1 2013 | 2013-03-31 | 2.61% | −1.93 pp |
| Q4 2012 | 2012-12-31 | 4.08% | −4.56 pp |
| Q3 2012 | 2012-09-30 | 13.18% | +4.42 pp |
| Q2 2012 | 2012-06-30 | 1.38% | −3.88 pp |
| Q1 2012 | 2012-03-31 | 4.54% | +5.73 pp |
| Q4 2011 | 2011-12-31 | 8.64% | −2.56 pp |
| Q3 2011 | 2011-09-30 | 8.76% | — |
| Q2 2011 | 2011-06-30 | 5.26% | — |
| Q1 2011 | 2011-03-31 | −1.19% | — |
| Q3 2010 | 2010-09-30 | 11.21% | — |
Delta Air Lines operating margin trends
Over the last five reported fiscal years, Delta Air Lines's operating margin increased from −72.94% to 9.19%, a change of +82.13 percentage points. The latest reported quarter, Q2 2026, shows 9.43%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Delta Air Lines filings at SEC.gov ↗