What is the primary revenue source for Delta Air Lines (DAL)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze DAL's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Delta Air Lines's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Delta Air Lines Makes Money: DAL Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

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Revenue grew while operating profit fell, so growth did not translate into better earnings.

The largest revenue segment accounts for 77.86% of revenue, indicating concentration.

Operating margin declined by 2.35 percentage points year over year.

Revenue: USD 55.80B
Largest revenue segment share (Passenger): 77.86%
Selling, general and administrative: USD 2.02B
Income tax expense: USD 798.00M

View calculation evidence

YoY periods: 9M 2026 compared with 9M 2025

Source metrics

RevenueOperating revenue · RevenueFromContractWithCustomerExcludingAssessedTax
Operating marginOperating income · operating_income / revenue * 100
Largest revenue segment share (Passenger)Passenger · segment_value / revenue * 100
Selling, general and administrativesum(SellingAndMarketingExpense, GeneralAndAdministrativeExpense)
Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit

Assets

Where is the money tied up, and how is the company financed?

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Current assets do not cover near-term liabilities, indicating short-term funding pressure.

Property, plant and equipment: USD 42.21B
Goodwill: USD 9.75B
Accounts receivable: USD 4.33B
Shareholder equity: USD 22.51B

View calculation evidence

YoY periods: 9M 2026 compared with 9M 2025

Source metrics

Accounts receivableAccounts receivable, net of allowance for uncollectible accounts of $13 and $13 · ReceivablesNetCurrent
Shareholder equityTotal stockholders' equity · StockholdersEquity
Property, plant and equipmentProperty and equipment, net of accumulated depreciation and amortization of $26,369 and $24,719 · PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
GoodwillGoodwill · Goodwill

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Net income: USD 2.07B

View calculation evidence

YoY periods: 9M 2026 compared with 9M 2025

Source metrics

Net incomeNet (loss) income · NetIncomeLoss

Some conclusions lack complete source metrics and should be interpreted cautiously.

Capital expenditure data is missing, so free cash flow cannot be calculated.

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

The company returned cash to shareholders, but free cash flow data is missing, so coverage cannot be assessed.

Cash dividends: USD 393.00M
Net shareholder return: USD 393.00M

View calculation evidence

YoY periods: 9M 2026 compared with 9M 2025

Source metrics

Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Cash dividendsPayments of dividends · PaymentsOfDividends · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?