DAL Delta Air Lines margins

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Relative Growth: Rel. Growth: 78
Relative Strength: Rel. Strength: 73
Relative Valuation: Rel. Valuation: 78
Relative Profitability: Rel. Profitability: 59
Gross margin
44%
Operating margin
8.1%
EBITDA margin
11.9%
Net margin
5.8%

Based on the latest figures, Delta Air Lines reports a gross margin of 44%, an operating margin of 8.1%, an EBITDA margin of 11.9%, and a net margin of 5.8%. Gross margin had the largest decline, falling by 3 percentage points, while the other available margins also weakened.

DAL margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Delta Air Lines recorded average margins of 46.21% gross, 9.49% operating, 14.09% EBITDA, and 7.12% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.

DAL margin expansion

Year-over-year margin changes in percentage points

The largest decrease was in gross margin, which fell by 3 percentage points. The other available margins also declined.

Gross margin expansion
-3pp
Operating margin expansion
-1.2pp
EBITDA margin expansion
-2.4pp
Net margin expansion
-1.4pp

DAL Gross margin

Reviewing the last 3 years, Delta Air Lines recorded an average gross margin of 46.21%. At present, Delta Air Lines's current gross margin is 44%, which is 2.2 percentage points below its three-year average. The highest gross margin for Delta Air Lines was 47% in Jun 2025, while the lowest was 44% in Jun 2026.

DAL Operating margin

The average operating margin for Delta Air Lines was 9.49% across the past 3 years. At present, the current operating margin for Delta Air Lines is 8.1%, 1.4 percentage points below its three-year average. The operating margin for Delta Air Lines moved between 8.1% in Jun 2026 and 10.9% in Mar 2024.

DAL EBITDA margin

Over the last 3 years, Delta Air Lines's EBITDA margin averaged 14.09%. The current EBITDA margin of 11.9% is 2.2 percentage points below its three-year average. During this period, EBITDA margin reached a high of 15.9% in Mar 2024 and a low of 11.9% in Jun 2026.

DAL Net margin

Over the last 3 years, Delta Air Lines's net margin averaged 7.12%. Currently, Delta Air Lines's current net margin is 5.8%, which is 1.3 percentage points below its three-year average. During this period, net margin reached a high of 8.5% in Mar 2024 and a low of 5.6% in Dec 2024.

DAL margin group comparison

Margins compared with peer-group, industry and sector averages

Delta Air Lines's gross margin of 44% is above the Industrials sector and the industry average but below its peers average. Compared to its Industrials sector average of 32.7%, Delta Air Lines's gross margin is 35% higher.

DAL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Delta Air Lines's gross margin?

The current gross margin for DAL is 44% as of Jun 30, 2026.

What is Delta Air Lines's operating margin?

The current operating margin for DAL is 8.1% as of Jun 30, 2026.

What is Delta Air Lines's EBITDA margin?

The current EBITDA margin for DAL is 11.9% as of Jun 30, 2026.

What is Delta Air Lines's net margin?

For the period ending Jun 30, 2026, DAL recorded a net margin of 5.8%.

What are the average margins of DAL?

Over the last 3 years, Delta Air Lines's margins averaged 46.2% gross, 9.5% operating, 14.1% EBITDA, and 7.1% net.

What are the highest historical margins of DAL?

Delta Air Lines's highest recorded margins during the past 5 years were 47% gross in Jun 2025, 10.9% operating in Mar 2024, 15.9% EBITDA in Mar 2024, and 8.5% net in Mar 2024.

What are the lowest historical margins of DAL?

Delta Air Lines's lowest recorded margins during the past 5 years were 35.4% gross in Dec 2021, 5.3% operating in Sep 2022, 7.4% EBITDA in Sep 2022, and 0.2% net in Sep 2022.