DELTA AIR LINES, INC. (DAL) closed fiscal year 2025 with a gross margin of 24.2 % and a net margin of 7.9 %.
DELTA AIR LINES, INC. (DAL) closed fiscal year 2025 with a gross margin of 24.2 % and a net margin of 7.9 %. The same year shows an EBITDA margin of 13.0 % and an EBIT margin of 9.2 %. The free cash flow margin was 6.1 %. Against the previous year the gross margin moved −0.4 pp and the net margin +2.3 pp. Across the period the gross margin ranges between 21.0 % in 2022 and 24.6 % in 2024. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 20.95 % | 24.35 % | 24.61 % | 24.17 % |
| EBITDA margin (%) | -31.05 % | 4.32 % | 11.74 % | 9.96 % | 10.20 % | 13.39 % | 9.85 % | 23.68 % | 22.41 % | 19.85 % | 17.09 % | 19.57 % | -59.42 % | 12.99 % | 11.40 % | 13.54 % | 13.80 % | 13.04 % |
| EBIT margin (%) | -36.63 % | -1.15 % | 6.98 % | 5.62 % | 5.93 % | 9.00 % | 5.47 % | 19.17 % | 17.65 % | 14.47 % | 11.85 % | 14.08 % | -72.94 % | 6.31 % | 7.24 % | 9.51 % | 9.73 % | 9.19 % |
| Net margin (%) | -39.31 % | -4.41 % | 1.87 % | 2.43 % | 2.75 % | 27.90 % | 1.63 % | 11.12 % | 10.58 % | 7.77 % | 8.86 % | 10.14 % | -72.45 % | 0.94 % | 2.61 % | 7.94 % | 5.61 % | 7.90 % |
| FCF margin (%) | -8.58 % | 4.02 % | 8.01 % | 7.08 % | 1.39 % | 5.13 % | 6.68 % | 12.24 % | 9.65 % | 2.74 % | 4.15 % | 7.42 % | -33.30 % | 0.06 % | -0.01 % | 1.97 % | 4.68 % | 6.06 % |
