Delta Air Lines (DAL) Operating Margin (2009 - 2026)
Delta Air Lines' (DAL) quarterly Operating Margin came in at 9.43% in Q2 2026, down 319.0% on a YoY basis from 4.31% in Q2 2025, and up 198.56% quarter-over-quarter from 3.16% in Q1 2026.
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Delta Air Lines (DAL) Operating Margin (2009 - 2026) Analysis & Trends
Delta Air Lines (DAL) has reported Operating Margin for 18 consecutive years, with 9.43% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 319.0% year-over-year to 9.43%; the trailing twelve-month figure through Jun 2026 stood at 8.08% (down 126.0% YoY), and the FY2025 full-year result was 9.19%, down 54.0% from the prior year.
- Operating Margin improved to 9.43% in Q2 2026 per DAL's latest filing, from 3.16% in the prior quarter.
- Across five years, Operating Margin topped out at 15.99% in Q2 2023 and bottomed at 8.38% in Q1 2022.
- Historically, Operating Margin has averaged 8.14% across 5 years, with a median of 9.77% in 2026.
- The widest YoY moves for Operating Margin: up 2531 bps in 2022, down 1367 bps in 2022.
- Over 5 years, Operating Margin stood at 10.94% in 2022, then declined by 15 bps to 9.29% in 2023, then climbed by 19 bps to 11.04% in 2024, then fell by 17 bps to 9.17% in 2025, then rose by 3 bps to 9.43% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 9.43%, 3.16%, and 9.17% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 52.71 Bn | 48.04 Bn | 19.07 Bn | 9.43% |
| 2 | Ryanair Holdings | 28.90 Bn | 24.96 Bn | - | 13.12% |
| 3 | Southwest Airlines | 19.37 Bn | 15.58 Bn | 7.33 Bn | 3.38% |
| 4 | Copa Holdings | 5.44 Bn | 4.18 Bn | 1.03 Bn | 8.65% |
| 5 | Alaska Air | 4.69 Bn | 2.03 Bn | 3.76 Bn | -4.13% |
| 6 | Skywest | 3.85 Bn | 3.25 Bn | 1.01 Bn | 14.13% |
| 7 | Grupo Aeromexico, S.A.B. de C.V | 2.30 Bn | 1.27 Bn | - | 4.60% |
| 8 | Allegiant Travel | 2.14 Bn | 1.08 Bn | 902.77 Mn | 2.24% |
| 9 | Jetblue Airways | 1.75 Bn | -274.49 Mn | 2.32 Bn | -5.23% |
| 10 | Frontier Group Holdings | 1.37 Bn | 416.98 Mn | - | -7.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.43% |
| Mar 31, 2026 | 3.16% |
| Dec 31, 2025 | 9.17% |
| Sep 30, 2025 | 10.10% |
| Jun 30, 2025 | 12.63% |
| Mar 31, 2025 | 4.05% |
| Dec 31, 2024 | 11.04% |
| Sep 30, 2024 | 8.91% |
| Jun 30, 2024 | 13.61% |
| Mar 31, 2024 | 4.47% |
| Dec 31, 2023 | 9.29% |
| Sep 30, 2023 | 12.81% |
| Jun 30, 2023 | 15.99% |
| Mar 31, 2023 | -2.17% |
| Dec 31, 2022 | 10.94% |
| Sep 30, 2022 | 10.42% |
| Jun 30, 2022 | 10.99% |
| Mar 31, 2022 | -8.38% |
| Dec 31, 2021 | 2.78% |
| Sep 30, 2021 | 24.09% |