DAL vs LUV
Delta AIR Lines, Inc. and Southwest Airlines Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DAL | LUV |
|---|---|---|
| Revenue | $63.4B | $28.1B |
| Net income | $5.0B | $441.0M |
| Gross margin | · | · |
| Net margin | 7.9% | 1.6% |
| Return on equity | 27.7% | 4.8% |
| Diluted EPS | $7.66 | $0.79 |
| Dividend / share | $0.68 | $0.72 |
| Payout ratio | 8.8% | 90.5% |
| Free cash flow | $3.8B | $-831.0M |
| Equity | $20.9B | $8.0B |
| Net debt / equity | 0.43× | 0.21× |
| Current ratio | 0.40× | 0.52× |
| Revenue CAGR 5y | 30.0% | 25.4% |
| Profit CAGR 5y | · | · |
DAL bills 2.3× the revenue of LUV, and keeps more of each dollar of revenue as profit (7.9% against 1.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | DAL | LUV |
|---|---|---|
| FY2025 | $63.4B | $28.1B |
| FY2024 | $61.6B | $27.5B |
| FY2023 | $58.0B | $26.1B |
| FY2022 | $50.6B | $23.8B |
| FY2021 | $29.9B | $15.8B |
| FY2020 | $17.1B | $9.0B |
| FY2019 | $47.0B | $22.4B |
| FY2018 | $44.4B | $22.0B |
| FY2017 | $41.1B | $21.1B |
| FY2016 | $39.5B | $20.3B |
Bottom line
| Fiscal year | DAL | LUV |
|---|---|---|
| FY2025 | $5.0B | $441.0M |
| FY2024 | $3.5B | $465.0M |
| FY2023 | $4.6B | $465.0M |
| FY2022 | $1.3B | $539.0M |
| FY2021 | $280.0M | $977.0M |
| FY2020 | $-12.4B | $-3.1B |
| FY2019 | $4.8B | $2.3B |
| FY2018 | $3.9B | $2.5B |
| FY2017 | $3.2B | $3.4B |
| FY2016 | $4.2B | $2.2B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$35,301,000,000 | DAL |
| FY2024 | +$34,160,000,000 | DAL |
| FY2023 | +$31,957,000,000 | DAL |
| FY2022 | +$26,768,000,000 | DAL |
| FY2021 | +$14,109,000,000 | DAL |
| FY2020 | +$8,047,000,000 | DAL |
| FY2019 | +$24,579,000,000 | DAL |
| FY2018 | +$22,473,000,000 | DAL |
| FY2017 | +$19,992,000,000 | DAL |
| FY2016 | +$19,161,000,000 | DAL |
| FY2015 | +$20,884,000,000 | DAL |
| FY2014 | +$21,757,000,000 | DAL |
| FY2013 | +$20,074,000,000 | DAL |
| FY2012 | +$19,582,000,000 | DAL |
| FY2011 | +$19,457,000,000 | DAL |
| FY2010 | +$19,651,000,000 | DAL |
| FY2009 | +$17,713,000,000 | DAL |
| FY2008 | +$11,674,000,000 | DAL |
DAL has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +6.3 pp | DAL |
| FY2024 | +3.9 pp | DAL |
| FY2023 | +6.2 pp | DAL |
| FY2022 | +0.3 pp | DAL |
| FY2021 | −5.3 pp | LUV |
| FY2020 | −38.5 pp | LUV |
| FY2019 | −0.1 pp | LUV |
| FY2018 | −2.4 pp | LUV |
| FY2017 | −8.1 pp | LUV |
| FY2016 | −0.1 pp | LUV |
| FY2015 | +0.1 pp | DAL |
| FY2014 | −4.5 pp | LUV |
| FY2013 | +23.6 pp | DAL |
| FY2012 | +0.3 pp | DAL |
| FY2011 | +1.3 pp | DAL |
| FY2010 | −1.9 pp | LUV |
| FY2009 | −5.4 pp | LUV |
| FY2008 | −40.9 pp | LUV |
The higher net margin has changed hands between DAL and LUV over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DAL's net margin has been more volatile than LUV's over the 18 comparable fiscal years — 21.4 percentage points of standard deviation against 10.0.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DAL and LUV over these 18 fiscal years — DAL led in 8 and LUV in 10.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DAL's return on equity has been more volatile than LUV's over the 15 comparable fiscal years — 267.4 percentage points of standard deviation against 16.7.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between DAL and LUV over these 15 fiscal years — DAL led in 10 and LUV in 5.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.