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American Airlines vs Delta Air Lines: revenue, profit, margins and growth compared

American Airlines brought in $54.6B of revenue in fiscal 2025, Delta Air Lines $63.4B in fiscal 2025. Revenue changed by +0.8% at American Airlines and +2.8% at Delta Air Lines on the year before, so Delta Air Lines grew faster. American Airlines kept 0.2% of its revenue as net profit, Delta Air Lines 7.9%. Free cash flow was -$680M at American Airlines and $3.8B at Delta Air Lines.

Side by side, latest fiscal year

AALDAL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$54.6B$63.4B
Revenue growth+0.8%+2.8%
Net income$111M$5B
Net margin0.2%7.9%
Free cash flow-$680M$3.8B
Free cash flow margin-1.2%6.1%
Earnings per share (diluted)$0.17$7.66
Cash$1.1B$4.3B
Debt$24.6B$13.3B
Price to earnings81.611.1
Market value$9.2B$55.9B
Dividend yieldn/a0.79%
Rank by revenue in sector#17 of 778 · Consumer discretionary#13 of 778 · Consumer discretionary

Over the years

Revenue
AAL FY2018: $44.5BAAL FY2019: $45.8BAAL FY2020: $17.3BAAL FY2021: $29.9BAAL FY2022: $49BAAL FY2023: $52.8BAAL FY2024: $54.2BAAL FY2025: $54.6BDAL FY2018: $44.4BDAL FY2019: $47BDAL FY2020: $17.1BDAL FY2021: $29.9BDAL FY2022: $50.6BDAL FY2023: $58BDAL FY2024: $61.6BDAL FY2025: $63.4BFY18FY19FY20FY21FY22FY23FY24FY25
AAL $54.6BDAL $63.4B
Net income
AAL FY2018: $1.4BAAL FY2019: $1.7BAAL FY2020: -$8.9BAAL FY2021: -$2BAAL FY2022: $127MAAL FY2023: $822MAAL FY2024: $846MAAL FY2025: $111MDAL FY2018: $3.9BDAL FY2019: $4.8BDAL FY2020: -$12.4BDAL FY2021: $280MDAL FY2022: $1.3BDAL FY2023: $4.6BDAL FY2024: $3.5BDAL FY2025: $5BFY18FY19FY20FY21FY22FY23FY24FY25
AAL $111MDAL $5B
Net margin
AAL FY2018: 3.2%AAL FY2019: 3.7%AAL FY2020: -51.2%AAL FY2021: -6.7%AAL FY2022: 0.3%AAL FY2023: 1.6%AAL FY2024: 1.6%AAL FY2025: 0.2%DAL FY2018: 8.9%DAL FY2019: 10.1%DAL FY2020: -72.4%DAL FY2021: 0.9%DAL FY2022: 2.6%DAL FY2023: 7.9%DAL FY2024: 5.6%DAL FY2025: 7.9%FY18FY19FY20FY21FY22FY23FY24FY25
AAL 0.2%DAL 7.9%
Revenue growth
AAL FY2019: +2.8%AAL FY2020: -62.1%AAL FY2021: +72.4%AAL FY2022: +63.9%AAL FY2023: +7.8%AAL FY2024: +2.7%AAL FY2025: +0.8%DAL FY2019: +5.8%DAL FY2020: -63.6%DAL FY2021: +74.9%DAL FY2022: +69.2%DAL FY2023: +14.8%DAL FY2024: +6.2%DAL FY2025: +2.8%FY19FY20FY21FY22FY23FY24FY25
AAL +0.8%DAL +2.8%
Free cash flow
AAL FY2018: -$212MAAL FY2019: -$453MAAL FY2020: -$8.5BAAL FY2021: $496MAAL FY2022: -$373MAAL FY2023: $1.2BAAL FY2024: $1.3BAAL FY2025: -$680MDAL FY2018: $1.8BDAL FY2019: $3.5BDAL FY2020: -$5.7BDAL FY2021: $17MDAL FY2022: -$3MDAL FY2023: $1.1BDAL FY2024: $2.9BDAL FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
AAL -$680MDAL $3.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about American Airlines and Delta Air Lines

Which is bigger by revenue, American Airlines or Delta Air Lines?

Delta Air Lines is bigger by revenue: $63.4B in fiscal 2025, against $54.6B for American Airlines in fiscal 2025.

Which keeps more of its revenue as profit, American Airlines or Delta Air Lines?

American Airlines had a net margin of 0.2% in fiscal 2025; Delta Air Lines had 7.9% in fiscal 2025.

Which grew revenue faster, American Airlines or Delta Air Lines?

In their latest fiscal years revenue changed by +0.8% at American Airlines and +2.8% at Delta Air Lines.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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