Delta Air Lines (DAL) Operating Margin (2009 - 2026)

Delta Air Lines has reported Operating Margin for 18 years, with the latest figure at 3.16% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin fell 89.0% year-over-year to 3.16%; the trailing twelve-month figure through Mar 2026 stood at 8.83% (down 78.0% YoY), and the FY2025 full-year result was 9.19%, down 54.0% from the prior year.
• Operating Margin for Q1 2026 stood at 3.16%, down from 9.17% in the prior quarter.
• The five-year high for Operating Margin was 15.99% in Q2 2023, with the low at 8.38% in Q1 2022.
• Historically, Operating Margin has averaged 8.06% across 5 years, with a median of 10.1% in 2025.
• The largest YoY upside for Operating Margin was 2531 bps in 2022 against a maximum downside of 1367 bps in 2022.
• Delta Air Lines' Operating Margin stood at 10.94% in 2022, then slipped by 15 bps to 9.29% in 2023, then gained by 19 bps to 11.04% in 2024, then dropped by 17 bps to 9.17% in 2025, then sank by 66 bps to 3.16% in 2026.
• The last three Operating Margin figures came in at 3.16% (Q1 2026), 9.17% (Q4 2025), and 10.1% (Q3 2025), per Business Quant data.