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Delta Air Lines vs Alaska Air Group: DAL and ALK compared
Delta Air Lines is the larger company: $20.2B of revenue in its latest quarter (Q3 2026) against $4.3B for Alaska Air Group (Q3 2026). Delta Air Lines is growing faster (+21% against +14% a year earlier). Delta Air Lines is more profitable, with an operating margin of 7.2% against 1.9%.
Where the money goes: DAL and ALK
Delta Air Lines (DAL) · Q3 2026
Delta Air Lines, Q3 2026: revenue $20.2B (+21% year over year), operating margin 7.2%, net earnings $756M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
Alaska Air Group (ALK) · Q3 2026
Alaska Air Group, Q3 2026: revenue $4.3B (+14% year over year), operating margin 1.9%, net loss $147M, operating cash flow $149M. The chart follows the revenue to costs, profit and cash.
| Delta Air Lines (DAL) | Alaska Air Group (ALK) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $20.2B | $4.3B |
| Revenue growth, Y/Y | +21% | +14% |
| Operating margin | 7.2% | 1.9% |
| Net earnings | $756M | −$147M |
| Net margin | 3.7% | -3.4% |
| Operating cash flow | $1.7B | $149M |
| Free cash flow | $464M | $82.0M |
| Market value | $57.5B | $4.3B |
| P/E | 17.4× | — |
| Analysts’ mean target | $100.78 | $51.69 |
Where the revenue comes from
Delta Air Lines
- Passenger: $15.6B (77%)
- Refinery: $2.6B (13%)
- Loyalty travel awards: $1.3B (6%)
- Cargo: $301M (1%)
Questions
Which is bigger, Delta Air Lines or Alaska Air Group?
Delta Air Lines is the larger company: $20.2B of revenue in its latest quarter (Q3 2026) against $4.3B for Alaska Air Group (Q3 2026).
Is Delta Air Lines or Alaska Air Group growing faster?
Delta Air Lines is growing faster (+21% against +14% a year earlier).
Which is more profitable, Delta Air Lines or Alaska Air Group?
Delta Air Lines is more profitable, with an operating margin of 7.2% against 1.9%.
More: Delta Air Lines earnings · how Delta Air Lines makes money · Alaska Air Group earnings · how Alaska Air Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 9, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.