# DELTA AIR LINES, INC. (DAL) · Edgar & Edgarette company card

> Delta Air Lines (DAL) grew revenue 2.8% in FY2025 to $63.4 billion, operating margin 9.2% against a 2.7% median for air transportation, scheduled, equity 25.6% of assets, and dividend per share up 3 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 27904 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/DAL) · [JSON](https://www.pops4.com/boards/company/DAL.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $63.4B |
| Revenue growth, 1 year | 2.8% |
| Revenue growth per year | 20.7% |
| Operating margin | 9.2% (prior year 9.7%) |
| Net margin | 7.9% |
| Operating cash flow | $8.3B |
| Capital spending | $4.5B |
| Free cash flow | $3.8B |
| Cash | $4.3B |
| Long-term debt | $13.3B |
| Total assets | $81.3B |
| Total equity | $20.9B |
| Equity ÷ assets | 25.6% |
| Return on equity | 24.0% |
| Dividend per share | $0.675 |
| Dividend years rising | 3 |

## Readings, computed from those figures

- Altman Z: 0.03 (distress zone)
- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: New ship · no warning signs
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $63.4B (FY2025), total debt $13.3B. Experience: revenue up 2.8% on the year, up 20.7% a year over 4 years; operating margin 9.2%, down from 9.7%. Soundness: equity 25.6% of assets, return on equity 24.0%, payout 8.8% of profit, dividend per share up 3 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $50.9B and $80.7B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $41.6B to $97.0B. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, air transportation, scheduled): operating margin 9.2% against a 2.7% median; growth 2.8% against 3.5%.

Range logged 2026-09-26, receipt 97dff09587208748, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-03-05 ([filing](https://www.sec.gov/Archives/edgar/data/27904/000168316826001510/0001683168-26-001510-index.htm))

## Recent filings

- 8-K · filed 2026-11-06 · 1.01 Entry into a Material Definitive Agreement; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/27904/000119312526451940/0001193125-26-451940-index.htm)
- 10-Q · filed 2026-10-09 · [filing](https://www.sec.gov/Archives/edgar/data/27904/000002790426000038/0000027904-26-000038-index.htm)
- 8-K · filed 2026-10-09 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/27904/000002790426000035/0000027904-26-000035-index.htm)
- 10-Q · filed 2026-07-10 · [filing](https://www.sec.gov/Archives/edgar/data/27904/000002790426000031/0000027904-26-000031-index.htm)
- 8-K · filed 2026-07-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/27904/000002790426000029/0000027904-26-000029-index.htm)
- 8-K · filed 2026-06-22 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/27904/000168316826005025/0001683168-26-005025-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000027904.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=27904

## Cite

POPS4, Edgar & Edgarette: DELTA AIR LINES, INC. (DAL) company card, from the company's own SEC filings, accessed 2026-11-10, https://www.pops4.com/boards/company/DAL. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.