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

Delta Air Lines brought in $63.4B of revenue in fiscal 2025, Latam Airlines $14.3B in fiscal 2025. Revenue changed by +2.8% at Delta Air Lines and +11.2% at Latam Airlines on the year before, so Latam Airlines grew faster. Delta Air Lines kept 7.9% of its revenue as net profit, Latam Airlines 10.2%. Free cash flow was $3.8B at Delta Air Lines and $2B at Latam Airlines.

Side by side, latest fiscal year

DALLTM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$63.4B$14.3B
Revenue growth+2.8%+11.2%
Net income$5B$1.5B
Net margin7.9%10.2%
Free cash flow$3.8B$2B
Free cash flow margin6.1%13.7%
Earnings per share (diluted)$7.66$0.00
Cash$4.3B$2.2B
Debt$13.3B$8.1B
Price to earnings11.1n/a
Market value$55.9B$15.1B
Dividend yield0.79%n/a
Rank by revenue in sector#13 of 778 · Consumer discretionary#94 of 778 · Consumer discretionary

Over the years

Revenue
DAL FY2018: $44.4BDAL FY2019: $47BDAL FY2020: $17.1BDAL FY2021: $29.9BDAL FY2022: $50.6BDAL FY2023: $58BDAL FY2024: $61.6BDAL FY2025: $63.4BLTM FY2018: $9.9BLTM FY2019: $10.1BLTM FY2020: $3.9BLTM FY2021: $4.9BLTM FY2022: $9.4BLTM FY2023: $11.6BLTM FY2024: $12.8BLTM FY2025: $14.3BFY18FY19FY20FY21FY22FY23FY24FY25
DAL $63.4BLTM $14.3B
Net income
DAL FY2018: $3.9BDAL FY2019: $4.8BDAL FY2020: -$12.4BDAL FY2021: $280MDAL FY2022: $1.3BDAL FY2023: $4.6BDAL FY2024: $3.5BDAL FY2025: $5BLTM FY2018: $309.8MLTM FY2019: $190.4MLTM FY2020: -$4.5BLTM FY2021: -$4.6BLTM FY2022: $1.3BLTM FY2023: $581.8MLTM FY2024: $977MLTM FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
DAL $5BLTM $1.5B
Net margin
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%LTM FY2018: 3.1%LTM FY2019: 1.9%LTM FY2020: -115.9%LTM FY2021: -95.2%LTM FY2022: 14.3%LTM FY2023: 5.0%LTM FY2024: 7.6%LTM FY2025: 10.2%FY18FY19FY20FY21FY22FY23FY24FY25
DAL 7.9%LTM 10.2%
Revenue growth
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%LTM FY2019: +1.8%LTM FY2020: -61.0%LTM FY2021: +24.5%LTM FY2022: +91.7%LTM FY2023: +24.3%LTM FY2024: +10.2%LTM FY2025: +11.2%FY19FY20FY21FY22FY23FY24FY25
DAL +2.8%LTM +11.2%
Free cash flow
DAL FY2018: $1.8BDAL FY2019: $3.5BDAL FY2020: -$5.7BDAL FY2021: $17MDAL FY2022: -$3MDAL FY2023: $1.1BDAL FY2024: $2.9BDAL FY2025: $3.8BLTM FY2018: $1.4BLTM FY2019: $1.6BLTM FY2020: -$819MLTM FY2021: -$771.3MLTM FY2022: -$683.7MLTM FY2023: $1.5BLTM FY2024: $1.8BLTM FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
DAL $3.8BLTM $2B

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

Questions about Delta Air Lines and Latam Airlines

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

Delta Air Lines is bigger by revenue: $63.4B in fiscal 2025, against $14.3B for Latam Airlines in fiscal 2025.

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

Delta Air Lines had a net margin of 7.9% in fiscal 2025; Latam Airlines had 10.2% in fiscal 2025.

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

In their latest fiscal years revenue changed by +2.8% at Delta Air Lines and +11.2% at Latam Airlines.

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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