Delek US Holdings, Inc. (DK) 10-Year Financial Performance & Capital Metrics

DK • • Industrial / General

EnergyOil Refining & MarketingTraditional Petroleum Refining & MarketingIntegrated Refiners & Marketers

AboutDelek US Holdings, Inc. engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal. It owns and operates four independent refineries located in Tyler, Texas; El Dorado, Arkansas; Big Spring, Texas; and Krotz Springs, Louisiana, as well as three biodiesel facilities in Crossett, Arkansas, Cleburne, Texas, and New Albany. The Logistics segment gathers, transports, and stores crude oil, intermediate, and refined products; and markets, distributes, transports, and stores refined products for third parties. It owns or leases capacity on approximately 400 miles of crude oil transportation pipelines, approximately 450 miles of refined product pipelines, an approximately 900-mile crude oil gathering system, and associated crude oil storage tanks with an aggregate of approximately 10.2 million barrels of active shell capacity; and owns and operates ten light product distribution terminals, as well as markets light products using third-party terminals. The Retail segment owns and leases 248 convenience store sites located primarily in West Texas and New Mexico. Its convenience stores offer various grades of gasoline and diesel under the DK or Alon brand; and food products and service, tobacco products, non-alcoholic and alcoholic beverages, and general merchandise, as well as money orders to the public primarily under the 7-Eleven and DK or Alon brand names. It serves oil companies, independent refiners and marketers, jobbers, distributors, utility and transportation companies, the U.S. government, and independent retail fuel operators. Delek US Holdings, Inc. was founded in 2001 and is headquartered in Brentwood, Tennessee.Show more

Revenue $11.85B -29.9%
EBITDA -$117M -118.5%
Net Income -$560M -2930.3%
EPS (Diluted) -8.77 -3023.3%
Gross Margin -0.57% -109.4%
EBITDA Margin -0.99% -126.4%
Operating Margin -4.15% -350.6%
Net Margin -4.73% -4141.2%
ROE -73.02% -3841.8%
ROIC -13.22% -299.3%
Debt/Equity 4.98 +74.6%
Interest Coverage -1.57 -278.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.5%
✓Share count reduced 3.2% through buybacks
✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

✗High debt to equity ratio of 5.0x
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.6%

5Y4.97%

3Y3.64%

TTM-21.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-65.3%

EPS CAGR

10Y-

5Y-

3Y-

TTM-67.7%

ROCE

10Y Avg2.38%

5Y Avg-2.5%

3Y Avg1.62%

Latest-11.38%

Peer Comparison

Integrated Refiners & Marketers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DINOHF Sinclair Corporation	9.16B	49.82	54.75	-10.59%	1.46%	4.14%	6.98%	0.33
PSXPhillips 66	56.41B	140.01	28.06	-2.81%	1.14%	5.36%	4.13%	0.70
VLOValero Energy Corporation	56.3B	184.58	21.51	-10.28%	0.62%	2.84%	10.26%	0.42
MPCMarathon Petroleum Corporation	53.38B	177.59	17.60	-6.41%	1.13%	6.35%	11.49%	1.17
CSANCosan S.A.	3.75B	3.79	-0.18	11.36%	-31.04%	-41.23%	100%	1.85
DKDelek US Holdings, Inc.	1.74B	29.01	-3.31	-29.94%	-4.83%	-115.76%		4.98
PARRPar Pacific Holdings, Inc.	1.94B	38.64	-65.49	-3.13%	3.15%	16.9%		1.32

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	5.76B	4.2B	7.27B	10.17B	9.3B	7.3B	10.65B	19.8B	16.92B	11.85B
Revenue Growth %	-0.31%	-0.27%	0.73%	0.4%	-0.09%	-0.21%	0.46%	0.86%	-0.15%	-0.3%
Cost of Goods Sold+	5.42B	4.06B	6.76B	9.2B	8.41B	7.59B	10.42B	19.06B	15.88B	11.92B
COGS % of Revenue	0.94%	0.97%	0.93%	0.9%	0.9%	1.04%	0.98%	0.96%	0.94%	1.01%
Gross Profit+	339.8M	135.7M	510.5M	972.8M	890.1M	-287M	225.5M	736.5M	1.04B	-67.9M
Gross Margin %	0.06%	0.03%	0.07%	0.1%	0.1%	-0.04%	0.02%	0.04%	0.06%	-0.01%
Gross Profit Growth %	-0.44%	-0.6%	2.76%	0.91%	-0.09%	-1.32%	1.79%	2.27%	0.41%	-1.07%
Operating Expenses+	259.1M	227.3M	324.1M	360.9M	397.8M	445.3M	260.2M	279M	756.1M	423.6M
OpEx % of Revenue	0.04%	0.05%	0.04%	0.04%	0.04%	0.06%	0.02%	0.01%	0.04%	0.04%
Selling, General & Admin	126M	106.1M	169.8M	247.6M	274.7M	234.6M	200.4M	313.7M	286.4M	252.8M
SG&A % of Revenue	0.02%	0.03%	0.02%	0.02%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.6M	-400K	154.3M	7.3M	123.1M	210.7M	59.8M	-34.7M	469.7M	170.8M
Operating Income+	80.7M	-49.2M	186.4M	611.9M	492.3M	-732.3M	-34.7M	457.5M	279.9M	-491.5M
Operating Margin %	0.01%	-0.01%	0.03%	0.06%	0.05%	-0.1%	-0%	0.02%	0.02%	-0.04%
Operating Income Growth %	-0.78%	-1.61%	4.79%	2.28%	-0.2%	-2.49%	0.95%	14.18%	-0.39%	-2.76%
EBITDA+	214.7M	67.5M	340.4M	813.2M	731M	-464.7M	229.9M	732.5M	631.5M	-117M
EBITDA Margin %	0.04%	0.02%	0.05%	0.08%	0.08%	-0.06%	0.02%	0.04%	0.04%	-0.01%
EBITDA Growth %	-0.55%	-0.69%	4.04%	1.39%	-0.1%	-1.64%	1.49%	2.19%	-0.14%	-1.19%
D&A (Non-Cash Add-back)	134M	116.7M	154M	201.3M	238.7M	267.6M	264.6M	275M	351.6M	374.5M
EBIT	73.4M	-336.8M	392.8M	610.7M	533.8M	-641.7M	-600K	517.6M	312.4M	-393M
Net Interest Income+	-51M	-52.9M	-89.8M	-120.1M	-119.8M	-125.7M	-136.7M	-195.8M	-318.2M	-313M
Interest Income	1.1M	1.5M	4M	5.8M	11.3M	3.3M	500K	0	0	0
Interest Expense	52.1M	54.4M	93.8M	125.9M	131.1M	129M	137.2M	195.8M	318.2M	313M
Other Income/Expense	-47.4M	-342M	119M	-126.4M	-89.6M	-35.1M	-102.6M	-135.7M	-228.1M	-214.5M
Pretax Income+	27.1M	-391.2M	299.3M	485.5M	402.7M	-767.4M	-137.3M	321.8M	51.8M	-706M
Pretax Margin %	0%	-0.09%	0.04%	0.05%	0.04%	-0.11%	-0.01%	0.02%	0%	-0.06%
Income Tax+	-16.6M	-171.5M	-29.2M	96.4M	71.7M	-193.6M	-42M	56.4M	5.1M	-107.9M
Effective Tax Rate %	0.72%	0.39%	0.96%	0.71%	0.77%	0.8%	0.93%	0.8%	0.38%	0.79%
Net Income+	19.4M	-153.7M	288.8M	345.6M	310.6M	-611.4M	-128.3M	257.1M	19.8M	-560.4M
Net Margin %	0%	-0.04%	0.04%	0.03%	0.03%	-0.08%	-0.01%	0.01%	0%	-0.05%
Net Income Growth %	-0.9%	-8.92%	2.88%	0.2%	-0.1%	-2.97%	0.79%	3%	-0.92%	-29.3%
Net Income (Continuing)	37.1M	-219.7M	328.5M	383.6M	331M	-573.8M	-95.3M	265.4M	46.7M	-598.1M
Discontinued Operations	6.6M	86.3M	0	0	5.2M	0	0	25.1M	0	77.2M
Minority Interest	200.6M	190.6M	313.6M	175.5M	169M	118.4M	119.8M	125.9M	114.2M	262.4M
EPS (Diluted)+	0.32	-2.48	4.00	3.98	3.97	-7.75	-2.30	3.60	0.30	-8.77
EPS Growth %	-0.9%	-8.75%	2.61%	-0.01%	-0%	-2.95%	0.7%	2.57%	-0.92%	-30.23%
EPS (Basic)	0.32	-2.48	4.04	4.17	4.01	-7.75	-2.30	3.63	0.30	-8.77
Diluted Shares Outstanding	61.32M	61.92M	72.3M	86.77M	76.57M	73.6M	73.98M	71.52M	65.98M	63.88M
Basic Shares Outstanding	60.82M	61.86M	71.57M	82.8M	75.85M	73.6M	73.98M	70.79M	66M	63.88M
Dividend Payout Ratio	1.91%	-	0.15%	0.23%	0.28%	-	-	0.17%	3.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	988.8M	1.4B	2.61B	2.42B	2.96B	2.3B	3.02B	3.72B	2.67B	2.33B
Cash & Short-Term Investments	302.2M	689.2M	931.8M	1.08B	955.3M	787.5M	856.5M	841.3M	821.8M	735.6M
Cash Only	302.2M	689.2M	931.8M	1.08B	955.3M	787.5M	856.5M	841.3M	821.8M	735.6M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	217.9M	266M	581.7M	514.4M	860.7M	669.9M	780.2M	1.26B	799.2M	624.3M
Days Sales Outstanding	13.8	23.13	29.22	18.46	33.79	33.49	26.74	23.14	17.24	19.23
Inventory	307.6M	392.4M	808.4M	690.9M	946.7M	727.7M	1.26B	1.52B	941.2M	893.2M
Days Inventory Outstanding	20.71	35.26	43.67	27.41	41.1	35	44.15	29.07	21.63	27.35
Other Current Assets	611.7M	35.3M	272.3M	132.9M	178.7M	92.6M	77.5M	56.4M	56.4M	9.6M
Total Non-Current Assets+	2.34B	1.58B	3.32B	3.34B	4.05B	3.83B	3.79B	4.48B	4.51B	4.33B
Property, Plant & Equipment	1.52B	1.1B	2.14B	2.19B	2.61B	2.55B	2.52B	2.96B	2.82B	3.03B
Fixed Asset Turnover	3.79x	3.80x	3.39x	4.63x	3.56x	2.86x	4.23x	6.70x	6.00x	3.91x
Goodwill	74.4M	12.2M	816.6M	857.8M	855.7M	729.7M	729.7M	744.3M	687.5M	475.3M
Intangible Assets	27.3M	26.7M	101.1M	104.4M	110.3M	107.8M	102.7M	315.6M	287.7M	321.6M
Long-Term Investments	605.2M	360M	138.1M	130.3M	455.2M	363.6M	344.1M	359.7M	360.7M	392.9M
Other Non-Current Assets	108.1M	80.7M	126.8M	52.9M	19.9M	84.3M	95.4M	100.4M	352.1M	111.9M
Total Assets+	3.32B	2.99B	5.94B	5.76B	7.02B	6.13B	6.81B	8.19B	7.17B	6.67B
Asset Turnover	1.73x	1.41x	1.22x	1.77x	1.33x	1.19x	1.56x	2.42x	2.36x	1.78x
Asset Growth %	0.15%	-0.1%	0.99%	-0.03%	0.22%	-0.13%	0.11%	0.2%	-0.12%	-0.07%
Total Current Liabilities+	759.7M	940.5M	2.67B	1.66B	2.36B	1.9B	3.13B	3.09B	2.69B	2.52B
Accounts Payable	364.7M	496.4M	975.1M	1.01B	1.6B	1.14B	1.7B	1.75B	1.81B	1.81B
Days Payables Outstanding	24.55	44.6	52.68	40.12	69.44	55.02	59.37	33.42	41.7	55.54
Short-Term Debt	93.9M	84.4M	590.2M	32M	76.9M	83.6M	146.1M	74.5M	44.5M	9.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	1000K	1000K	1000K	1000K
Other Current Liabilities	539.4M	231.4M	905.7M	573.8M	512.1M	535.9M	1.07B	702.5M	308.4M	312.4M
Current Ratio	1.30x	1.49x	0.98x	1.45x	1.26x	1.21x	0.97x	1.20x	0.99x	0.93x
Quick Ratio	0.90x	1.07x	0.68x	1.04x	0.86x	0.83x	0.56x	0.71x	0.64x	0.57x
Cash Conversion Cycle	9.96	13.78	20.21	5.75	5.44	13.46	11.52	18.79	-2.82	-8.96
Total Non-Current Liabilities+	1.21B	862.1M	1.3B	2.27B	2.83B	3.11B	2.67B	4.04B	3.53B	3.57B
Long-Term Debt	711.3M	748.5M	875.4M	1.75B	2.03B	2.31B	2.13B	2.98B	2.56B	2.76B
Capital Lease Obligations	0	0	11.2M	0	144.3M	131.8M	152M	122.4M	85.7M	54.8M
Deferred Tax Liabilities	247.9M	76.2M	199.9M	190.2M	267.9M	255.5M	214.5M	266.5M	264.1M	214.8M
Other Non-Current Liabilities	255.6M	26M	212.8M	327.5M	382.2M	403.5M	179.6M	668.8M	621.9M	549.3M
Total Liabilities	1.97B	1.8B	3.97B	3.93B	5.18B	5.01B	5.8B	7.12B	6.21B	6.09B
Total Debt+	975.7M	832.9M	1.47B	1.78B	2.25B	2.53B	2.42B	3.23B	2.74B	2.86B
Net Debt	673.5M	143.7M	533.8M	704M	1.3B	1.74B	1.57B	2.38B	1.91B	2.13B
Debt / Equity	0.72x	0.70x	0.75x	0.98x	1.23x	2.25x	2.39x	3.02x	2.85x	4.98x
Debt / EBITDA	4.54x	12.34x	4.31x	2.19x	3.08x	-	10.54x	4.40x	4.33x	-
Net Debt / EBITDA	3.14x	2.13x	1.57x	0.87x	1.77x	-	6.82x	3.26x	3.03x	-
Interest Coverage	1.55x	-0.90x	1.99x	4.86x	3.76x	-5.68x	-0.25x	2.34x	0.88x	-1.57x
Total Equity+	1.35B	1.18B	1.96B	1.83B	1.84B	1.13B	1.01B	1.07B	959.7M	575.2M
Equity Growth %	0.13%	-0.13%	0.66%	-0.07%	0%	-0.39%	-0.1%	0.05%	-0.1%	-0.4%
Book Value per Share	22.08	19.10	27.17	21.07	23.97	15.29	13.71	14.95	14.55	9.00
Total Shareholders' Equity	1.15B	991.9M	1.65B	1.65B	1.67B	1.01B	894.2M	943.6M	845.5M	312.8M
Common Stock	700K	700K	800K	900K	900K	900K	900K	900K	800K	800K
Retained Earnings	713.5M	522.3M	767.8M	1B	1.21B	522M	384.7M	507.9M	430M	-205.7M
Treasury Stock	-154.8M	-160.8M	-25M	-514.1M	-692.2M	-694.1M	-694.1M	-694.1M	-694.1M	-694.1M
Accumulated OCI	-45.3M	-20.8M	6.9M	28.6M	100K	-7.2M	-3.8M	-5.2M	-4.8M	-4.1M
Minority Interest	200.6M	190.6M	313.6M	175.5M	169M	118.4M	119.8M	125.9M	114.2M	262.4M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	180M	268.2M	332.1M	560.3M	575.2M	-282.9M	371.4M	425.3M	1.01B	-66.8M
Operating CF Margin %	0.03%	0.06%	0.05%	0.06%	0.06%	-0.04%	0.03%	0.02%	0.06%	-0.01%
Operating CF Growth %	-0.43%	0.49%	0.24%	0.69%	0.03%	-1.49%	2.31%	0.15%	1.38%	-1.07%
Net Income	43.7M	-219.7M	328.5M	383.6M	331M	-570.4M	-170.5M	290.5M	46.7M	-520.9M
Depreciation & Amortization	134M	116.4M	153.3M	199.4M	203.8M	278.4M	264.6M	275M	339.5M	374.5M
Stock-Based Compensation	16.8M	16.4M	17.5M	21.4M	25.8M	22.8M	24.6M	29.1M	27.5M	33.8M
Deferred Taxes	17.4M	-154.4M	-49.4M	-29M	62.1M	-32.1M	-59.4M	61.6M	-1.6M	-103.6M
Other Non-Cash Items	20.5M	331M	-181.8M	-400K	26.7M	164.1M	38M	57.2M	89.9M	199.1M
Working Capital Changes	-52.4M	178.5M	64M	-14.7M	-74.2M	-145.7M	274.1M	-288.1M	511.6M	-49.7M
Change in Receivables	-36.5M	-48.1M	-155.8M	112.7M	-276.7M	259.7M	-253.3M	-429.1M	460M	179.8M
Change in Inventory	114M	-53.7M	-191.1M	138.7M	-417.7M	244.4M	-342.3M	-251.1M	559.4M	1.1M
Change in Payables	-75.8M	221M	290.9M	-128.1M	565.2M	-480.3M	702.5M	300.9M	-299.7M	-220.8M
Cash from Investing+	-460.4M	180.5M	25.2M	-125.3M	-691.3M	-191.3M	-178.4M	-931.6M	-408M	-241.5M
Capital Expenditures	-221.3M	-47M	-177.5M	-323.7M	-432.9M	-272.2M	-223.2M	-280.2M	-392.5M	-427.7M
CapEx % of Revenue	0.04%	0.01%	0.02%	0.03%	0.05%	0.04%	0.02%	0.01%	0.02%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	9.4M	900K	5.6M	86.3M	1.9M	72.2M	46.5M	-25.7M	-3.6M	186.6M
Cash from Financing+	138.5M	-61.7M	-104.6M	-297.6M	-7.9M	306.4M	-124M	491.1M	-624.7M	221.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-37.1M	-37.5M	-44M	-80.1M	-86.8M	-69.1M	0	-42.8M	-60.3M	-64.2M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	25.4M	-41.2M	-95.5M	-161.3M	-13.7M	106.6M	5.9M	-149M	-15.8M	-67.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-41.3M	221.2M	154.6M	236.6M	142.3M	-555.1M	148.2M	139.5M	616.8M	-497.4M
FCF Margin %	-0.01%	0.05%	0.02%	0.02%	0.02%	-0.08%	0.01%	0.01%	0.04%	-0.04%
FCF Growth %	-1.69%	6.36%	-0.3%	0.53%	-0.4%	-4.9%	1.27%	-0.06%	3.42%	-1.81%
FCF per Share	-0.67	3.57	2.14	2.73	1.86	-7.54	2.00	1.95	9.35	-7.79
FCF Conversion (FCF/Net Income)	9.28x	-1.74x	1.15x	1.62x	1.85x	0.46x	-2.89x	1.65x	51.19x	0.12x
Interest Paid	48.9M	51.9M	82.1M	120.1M	126.2M	123.7M	125.3M	186.7M	323.5M	300.1M
Taxes Paid	5.1M	1.7M	70.5M	103.9M	94.2M	3.6M	4.2M	27.6M	10.8M	3.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.52%	-12.12%	18.36%	18.23%	16.96%	-41.31%	-12%	24.68%	1.95%	-73.02%
Return on Invested Capital (ROIC)	3.59%	-2.2%	7.31%	18.25%	13.04%	-18.31%	-0.96%	11.37%	6.64%	-13.22%
Gross Margin	5.9%	3.23%	7.02%	9.56%	9.57%	-3.93%	2.12%	3.72%	6.12%	-0.57%
Net Margin	0.34%	-3.66%	3.97%	3.4%	3.34%	-8.37%	-1.2%	1.3%	0.12%	-4.73%
Debt / Equity	0.72x	0.70x	0.75x	0.98x	1.23x	2.25x	2.39x	3.02x	2.85x	4.98x
Interest Coverage	1.55x	-0.90x	1.99x	4.86x	3.76x	-5.68x	-0.25x	2.34x	0.88x	-1.57x
FCF Conversion	9.28x	-1.74x	1.15x	1.62x	1.85x	0.46x	-2.89x	1.65x	51.19x	0.12x
Revenue Growth	-30.78%	-27.15%	73.11%	39.98%	-8.59%	-21.47%	45.83%	85.96%	-14.56%	-29.94%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Refining	-	8.77B	8.1B	5.36B	9.17B	19.76B	16.41B	11.78B
Refining Growth	-	-	-7.70%	-33.76%	70.95%	115.56%	-16.98%	-28.18%
Logistics	-	416.8M	323M	379.8M	282.1M	1.04B	1.02B	940.6M
Logistics Growth	-	-	-22.50%	17.59%	-25.72%	267.39%	-1.54%	-7.82%
Retail	-	-	-	681.7M	797.4M	956.9M	882.7M	-
Retail Growth	-	-	-	-	16.97%	20.00%	-7.75%	-
Retail	-	915.4M	838M	-	-	-	-	-
Retail Growth	-	-	-8.46%	-	-	-	-	-
Asphalt	11.8M	-	-	-	-	-	-	-
Asphalt Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Delek US Holdings, Inc. (DK) reported $10.67B in revenue for fiscal year 2024. This represents a 48% increase from $7.20B in 2011.

Delek US Holdings, Inc. (DK) saw revenue decline by 29.9% over the past year.

Delek US Holdings, Inc. (DK) reported a net loss of $514.9M for fiscal year 2024.

Dividend & Returns

Yes, Delek US Holdings, Inc. (DK) pays a dividend with a yield of 3.46%. This makes it attractive for income-focused investors.

Delek US Holdings, Inc. (DK) has a return on equity (ROE) of -73.0%. Negative ROE indicates the company is unprofitable.

Delek US Holdings, Inc. (DK) had negative free cash flow of $738.9M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Delek US Holdings, Inc. (DK) 10-Year Financial Performance & Capital Metrics

DK • • Industrial / General

EnergyOil Refining & MarketingTraditional Petroleum Refining & MarketingIntegrated Refiners & Marketers

Revenue $11.85B -29.9%
EBITDA -$117M -118.5%
Net Income -$560M -2930.3%
EPS (Diluted) -8.77 -3023.3%
Gross Margin -0.57% -109.4%
EBITDA Margin -0.99% -126.4%
Operating Margin -4.15% -350.6%
Net Margin -4.73% -4141.2%
ROE -73.02% -3841.8%
ROIC -13.22% -299.3%
Debt/Equity 4.98 +74.6%
Interest Coverage -1.57 -278.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.5%
✓Share count reduced 3.2% through buybacks
✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

✗High debt to equity ratio of 5.0x
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.6%

5Y4.97%

3Y3.64%

TTM-21.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-65.3%

EPS CAGR

10Y-

5Y-

3Y-

TTM-67.7%

ROCE

10Y Avg2.38%

5Y Avg-2.5%

3Y Avg1.62%

Latest-11.38%

Peer Comparison

Integrated Refiners & Marketers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DINOHF Sinclair Corporation	9.16B	49.82	54.75	-10.59%	1.46%	4.14%	6.98%	0.33
PSXPhillips 66	56.41B	140.01	28.06	-2.81%	1.14%	5.36%	4.13%	0.70
VLOValero Energy Corporation	56.3B	184.58	21.51	-10.28%	0.62%	2.84%	10.26%	0.42
MPCMarathon Petroleum Corporation	53.38B	177.59	17.60	-6.41%	1.13%	6.35%	11.49%	1.17
CSANCosan S.A.	3.75B	3.79	-0.18	11.36%	-31.04%	-41.23%	100%	1.85
DKDelek US Holdings, Inc.	1.74B	29.01	-3.31	-29.94%	-4.83%	-115.76%		4.98
PARRPar Pacific Holdings, Inc.	1.94B	38.64	-65.49	-3.13%	3.15%	16.9%		1.32

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	5.76B	4.2B	7.27B	10.17B	9.3B	7.3B	10.65B	19.8B	16.92B	11.85B
Revenue Growth %	-0.31%	-0.27%	0.73%	0.4%	-0.09%	-0.21%	0.46%	0.86%	-0.15%	-0.3%
Cost of Goods Sold+	5.42B	4.06B	6.76B	9.2B	8.41B	7.59B	10.42B	19.06B	15.88B	11.92B
COGS % of Revenue	0.94%	0.97%	0.93%	0.9%	0.9%	1.04%	0.98%	0.96%	0.94%	1.01%
Gross Profit+	339.8M	135.7M	510.5M	972.8M	890.1M	-287M	225.5M	736.5M	1.04B	-67.9M
Gross Margin %	0.06%	0.03%	0.07%	0.1%	0.1%	-0.04%	0.02%	0.04%	0.06%	-0.01%
Gross Profit Growth %	-0.44%	-0.6%	2.76%	0.91%	-0.09%	-1.32%	1.79%	2.27%	0.41%	-1.07%
Operating Expenses+	259.1M	227.3M	324.1M	360.9M	397.8M	445.3M	260.2M	279M	756.1M	423.6M
OpEx % of Revenue	0.04%	0.05%	0.04%	0.04%	0.04%	0.06%	0.02%	0.01%	0.04%	0.04%
Selling, General & Admin	126M	106.1M	169.8M	247.6M	274.7M	234.6M	200.4M	313.7M	286.4M	252.8M
SG&A % of Revenue	0.02%	0.03%	0.02%	0.02%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.6M	-400K	154.3M	7.3M	123.1M	210.7M	59.8M	-34.7M	469.7M	170.8M
Operating Income+	80.7M	-49.2M	186.4M	611.9M	492.3M	-732.3M	-34.7M	457.5M	279.9M	-491.5M
Operating Margin %	0.01%	-0.01%	0.03%	0.06%	0.05%	-0.1%	-0%	0.02%	0.02%	-0.04%
Operating Income Growth %	-0.78%	-1.61%	4.79%	2.28%	-0.2%	-2.49%	0.95%	14.18%	-0.39%	-2.76%
EBITDA+	214.7M	67.5M	340.4M	813.2M	731M	-464.7M	229.9M	732.5M	631.5M	-117M
EBITDA Margin %	0.04%	0.02%	0.05%	0.08%	0.08%	-0.06%	0.02%	0.04%	0.04%	-0.01%
EBITDA Growth %	-0.55%	-0.69%	4.04%	1.39%	-0.1%	-1.64%	1.49%	2.19%	-0.14%	-1.19%
D&A (Non-Cash Add-back)	134M	116.7M	154M	201.3M	238.7M	267.6M	264.6M	275M	351.6M	374.5M
EBIT	73.4M	-336.8M	392.8M	610.7M	533.8M	-641.7M	-600K	517.6M	312.4M	-393M
Net Interest Income+	-51M	-52.9M	-89.8M	-120.1M	-119.8M	-125.7M	-136.7M	-195.8M	-318.2M	-313M
Interest Income	1.1M	1.5M	4M	5.8M	11.3M	3.3M	500K	0	0	0
Interest Expense	52.1M	54.4M	93.8M	125.9M	131.1M	129M	137.2M	195.8M	318.2M	313M
Other Income/Expense	-47.4M	-342M	119M	-126.4M	-89.6M	-35.1M	-102.6M	-135.7M	-228.1M	-214.5M
Pretax Income+	27.1M	-391.2M	299.3M	485.5M	402.7M	-767.4M	-137.3M	321.8M	51.8M	-706M
Pretax Margin %	0%	-0.09%	0.04%	0.05%	0.04%	-0.11%	-0.01%	0.02%	0%	-0.06%
Income Tax+	-16.6M	-171.5M	-29.2M	96.4M	71.7M	-193.6M	-42M	56.4M	5.1M	-107.9M
Effective Tax Rate %	0.72%	0.39%	0.96%	0.71%	0.77%	0.8%	0.93%	0.8%	0.38%	0.79%
Net Income+	19.4M	-153.7M	288.8M	345.6M	310.6M	-611.4M	-128.3M	257.1M	19.8M	-560.4M
Net Margin %	0%	-0.04%	0.04%	0.03%	0.03%	-0.08%	-0.01%	0.01%	0%	-0.05%
Net Income Growth %	-0.9%	-8.92%	2.88%	0.2%	-0.1%	-2.97%	0.79%	3%	-0.92%	-29.3%
Net Income (Continuing)	37.1M	-219.7M	328.5M	383.6M	331M	-573.8M	-95.3M	265.4M	46.7M	-598.1M
Discontinued Operations	6.6M	86.3M	0	0	5.2M	0	0	25.1M	0	77.2M
Minority Interest	200.6M	190.6M	313.6M	175.5M	169M	118.4M	119.8M	125.9M	114.2M	262.4M
EPS (Diluted)+	0.32	-2.48	4.00	3.98	3.97	-7.75	-2.30	3.60	0.30	-8.77
EPS Growth %	-0.9%	-8.75%	2.61%	-0.01%	-0%	-2.95%	0.7%	2.57%	-0.92%	-30.23%
EPS (Basic)	0.32	-2.48	4.04	4.17	4.01	-7.75	-2.30	3.63	0.30	-8.77
Diluted Shares Outstanding	61.32M	61.92M	72.3M	86.77M	76.57M	73.6M	73.98M	71.52M	65.98M	63.88M
Basic Shares Outstanding	60.82M	61.86M	71.57M	82.8M	75.85M	73.6M	73.98M	70.79M	66M	63.88M
Dividend Payout Ratio	1.91%	-	0.15%	0.23%	0.28%	-	-	0.17%	3.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	988.8M	1.4B	2.61B	2.42B	2.96B	2.3B	3.02B	3.72B	2.67B	2.33B
Cash & Short-Term Investments	302.2M	689.2M	931.8M	1.08B	955.3M	787.5M	856.5M	841.3M	821.8M	735.6M
Cash Only	302.2M	689.2M	931.8M	1.08B	955.3M	787.5M	856.5M	841.3M	821.8M	735.6M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	217.9M	266M	581.7M	514.4M	860.7M	669.9M	780.2M	1.26B	799.2M	624.3M
Days Sales Outstanding	13.8	23.13	29.22	18.46	33.79	33.49	26.74	23.14	17.24	19.23
Inventory	307.6M	392.4M	808.4M	690.9M	946.7M	727.7M	1.26B	1.52B	941.2M	893.2M
Days Inventory Outstanding	20.71	35.26	43.67	27.41	41.1	35	44.15	29.07	21.63	27.35
Other Current Assets	611.7M	35.3M	272.3M	132.9M	178.7M	92.6M	77.5M	56.4M	56.4M	9.6M
Total Non-Current Assets+	2.34B	1.58B	3.32B	3.34B	4.05B	3.83B	3.79B	4.48B	4.51B	4.33B
Property, Plant & Equipment	1.52B	1.1B	2.14B	2.19B	2.61B	2.55B	2.52B	2.96B	2.82B	3.03B
Fixed Asset Turnover	3.79x	3.80x	3.39x	4.63x	3.56x	2.86x	4.23x	6.70x	6.00x	3.91x
Goodwill	74.4M	12.2M	816.6M	857.8M	855.7M	729.7M	729.7M	744.3M	687.5M	475.3M
Intangible Assets	27.3M	26.7M	101.1M	104.4M	110.3M	107.8M	102.7M	315.6M	287.7M	321.6M
Long-Term Investments	605.2M	360M	138.1M	130.3M	455.2M	363.6M	344.1M	359.7M	360.7M	392.9M
Other Non-Current Assets	108.1M	80.7M	126.8M	52.9M	19.9M	84.3M	95.4M	100.4M	352.1M	111.9M
Total Assets+	3.32B	2.99B	5.94B	5.76B	7.02B	6.13B	6.81B	8.19B	7.17B	6.67B
Asset Turnover	1.73x	1.41x	1.22x	1.77x	1.33x	1.19x	1.56x	2.42x	2.36x	1.78x
Asset Growth %	0.15%	-0.1%	0.99%	-0.03%	0.22%	-0.13%	0.11%	0.2%	-0.12%	-0.07%
Total Current Liabilities+	759.7M	940.5M	2.67B	1.66B	2.36B	1.9B	3.13B	3.09B	2.69B	2.52B
Accounts Payable	364.7M	496.4M	975.1M	1.01B	1.6B	1.14B	1.7B	1.75B	1.81B	1.81B
Days Payables Outstanding	24.55	44.6	52.68	40.12	69.44	55.02	59.37	33.42	41.7	55.54
Short-Term Debt	93.9M	84.4M	590.2M	32M	76.9M	83.6M	146.1M	74.5M	44.5M	9.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	1000K	1000K	1000K	1000K
Other Current Liabilities	539.4M	231.4M	905.7M	573.8M	512.1M	535.9M	1.07B	702.5M	308.4M	312.4M
Current Ratio	1.30x	1.49x	0.98x	1.45x	1.26x	1.21x	0.97x	1.20x	0.99x	0.93x
Quick Ratio	0.90x	1.07x	0.68x	1.04x	0.86x	0.83x	0.56x	0.71x	0.64x	0.57x
Cash Conversion Cycle	9.96	13.78	20.21	5.75	5.44	13.46	11.52	18.79	-2.82	-8.96
Total Non-Current Liabilities+	1.21B	862.1M	1.3B	2.27B	2.83B	3.11B	2.67B	4.04B	3.53B	3.57B
Long-Term Debt	711.3M	748.5M	875.4M	1.75B	2.03B	2.31B	2.13B	2.98B	2.56B	2.76B
Capital Lease Obligations	0	0	11.2M	0	144.3M	131.8M	152M	122.4M	85.7M	54.8M
Deferred Tax Liabilities	247.9M	76.2M	199.9M	190.2M	267.9M	255.5M	214.5M	266.5M	264.1M	214.8M
Other Non-Current Liabilities	255.6M	26M	212.8M	327.5M	382.2M	403.5M	179.6M	668.8M	621.9M	549.3M
Total Liabilities	1.97B	1.8B	3.97B	3.93B	5.18B	5.01B	5.8B	7.12B	6.21B	6.09B
Total Debt+	975.7M	832.9M	1.47B	1.78B	2.25B	2.53B	2.42B	3.23B	2.74B	2.86B
Net Debt	673.5M	143.7M	533.8M	704M	1.3B	1.74B	1.57B	2.38B	1.91B	2.13B
Debt / Equity	0.72x	0.70x	0.75x	0.98x	1.23x	2.25x	2.39x	3.02x	2.85x	4.98x
Debt / EBITDA	4.54x	12.34x	4.31x	2.19x	3.08x	-	10.54x	4.40x	4.33x	-
Net Debt / EBITDA	3.14x	2.13x	1.57x	0.87x	1.77x	-	6.82x	3.26x	3.03x	-
Interest Coverage	1.55x	-0.90x	1.99x	4.86x	3.76x	-5.68x	-0.25x	2.34x	0.88x	-1.57x
Total Equity+	1.35B	1.18B	1.96B	1.83B	1.84B	1.13B	1.01B	1.07B	959.7M	575.2M
Equity Growth %	0.13%	-0.13%	0.66%	-0.07%	0%	-0.39%	-0.1%	0.05%	-0.1%	-0.4%
Book Value per Share	22.08	19.10	27.17	21.07	23.97	15.29	13.71	14.95	14.55	9.00
Total Shareholders' Equity	1.15B	991.9M	1.65B	1.65B	1.67B	1.01B	894.2M	943.6M	845.5M	312.8M
Common Stock	700K	700K	800K	900K	900K	900K	900K	900K	800K	800K
Retained Earnings	713.5M	522.3M	767.8M	1B	1.21B	522M	384.7M	507.9M	430M	-205.7M
Treasury Stock	-154.8M	-160.8M	-25M	-514.1M	-692.2M	-694.1M	-694.1M	-694.1M	-694.1M	-694.1M
Accumulated OCI	-45.3M	-20.8M	6.9M	28.6M	100K	-7.2M	-3.8M	-5.2M	-4.8M	-4.1M
Minority Interest	200.6M	190.6M	313.6M	175.5M	169M	118.4M	119.8M	125.9M	114.2M	262.4M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	180M	268.2M	332.1M	560.3M	575.2M	-282.9M	371.4M	425.3M	1.01B	-66.8M
Operating CF Margin %	0.03%	0.06%	0.05%	0.06%	0.06%	-0.04%	0.03%	0.02%	0.06%	-0.01%
Operating CF Growth %	-0.43%	0.49%	0.24%	0.69%	0.03%	-1.49%	2.31%	0.15%	1.38%	-1.07%
Net Income	43.7M	-219.7M	328.5M	383.6M	331M	-570.4M	-170.5M	290.5M	46.7M	-520.9M
Depreciation & Amortization	134M	116.4M	153.3M	199.4M	203.8M	278.4M	264.6M	275M	339.5M	374.5M
Stock-Based Compensation	16.8M	16.4M	17.5M	21.4M	25.8M	22.8M	24.6M	29.1M	27.5M	33.8M
Deferred Taxes	17.4M	-154.4M	-49.4M	-29M	62.1M	-32.1M	-59.4M	61.6M	-1.6M	-103.6M
Other Non-Cash Items	20.5M	331M	-181.8M	-400K	26.7M	164.1M	38M	57.2M	89.9M	199.1M
Working Capital Changes	-52.4M	178.5M	64M	-14.7M	-74.2M	-145.7M	274.1M	-288.1M	511.6M	-49.7M
Change in Receivables	-36.5M	-48.1M	-155.8M	112.7M	-276.7M	259.7M	-253.3M	-429.1M	460M	179.8M
Change in Inventory	114M	-53.7M	-191.1M	138.7M	-417.7M	244.4M	-342.3M	-251.1M	559.4M	1.1M
Change in Payables	-75.8M	221M	290.9M	-128.1M	565.2M	-480.3M	702.5M	300.9M	-299.7M	-220.8M
Cash from Investing+	-460.4M	180.5M	25.2M	-125.3M	-691.3M	-191.3M	-178.4M	-931.6M	-408M	-241.5M
Capital Expenditures	-221.3M	-47M	-177.5M	-323.7M	-432.9M	-272.2M	-223.2M	-280.2M	-392.5M	-427.7M
CapEx % of Revenue	0.04%	0.01%	0.02%	0.03%	0.05%	0.04%	0.02%	0.01%	0.02%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	9.4M	900K	5.6M	86.3M	1.9M	72.2M	46.5M	-25.7M	-3.6M	186.6M
Cash from Financing+	138.5M	-61.7M	-104.6M	-297.6M	-7.9M	306.4M	-124M	491.1M	-624.7M	221.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-37.1M	-37.5M	-44M	-80.1M	-86.8M	-69.1M	0	-42.8M	-60.3M	-64.2M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	25.4M	-41.2M	-95.5M	-161.3M	-13.7M	106.6M	5.9M	-149M	-15.8M	-67.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-41.3M	221.2M	154.6M	236.6M	142.3M	-555.1M	148.2M	139.5M	616.8M	-497.4M
FCF Margin %	-0.01%	0.05%	0.02%	0.02%	0.02%	-0.08%	0.01%	0.01%	0.04%	-0.04%
FCF Growth %	-1.69%	6.36%	-0.3%	0.53%	-0.4%	-4.9%	1.27%	-0.06%	3.42%	-1.81%
FCF per Share	-0.67	3.57	2.14	2.73	1.86	-7.54	2.00	1.95	9.35	-7.79
FCF Conversion (FCF/Net Income)	9.28x	-1.74x	1.15x	1.62x	1.85x	0.46x	-2.89x	1.65x	51.19x	0.12x
Interest Paid	48.9M	51.9M	82.1M	120.1M	126.2M	123.7M	125.3M	186.7M	323.5M	300.1M
Taxes Paid	5.1M	1.7M	70.5M	103.9M	94.2M	3.6M	4.2M	27.6M	10.8M	3.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.52%	-12.12%	18.36%	18.23%	16.96%	-41.31%	-12%	24.68%	1.95%	-73.02%
Return on Invested Capital (ROIC)	3.59%	-2.2%	7.31%	18.25%	13.04%	-18.31%	-0.96%	11.37%	6.64%	-13.22%
Gross Margin	5.9%	3.23%	7.02%	9.56%	9.57%	-3.93%	2.12%	3.72%	6.12%	-0.57%
Net Margin	0.34%	-3.66%	3.97%	3.4%	3.34%	-8.37%	-1.2%	1.3%	0.12%	-4.73%
Debt / Equity	0.72x	0.70x	0.75x	0.98x	1.23x	2.25x	2.39x	3.02x	2.85x	4.98x
Interest Coverage	1.55x	-0.90x	1.99x	4.86x	3.76x	-5.68x	-0.25x	2.34x	0.88x	-1.57x
FCF Conversion	9.28x	-1.74x	1.15x	1.62x	1.85x	0.46x	-2.89x	1.65x	51.19x	0.12x
Revenue Growth	-30.78%	-27.15%	73.11%	39.98%	-8.59%	-21.47%	45.83%	85.96%	-14.56%	-29.94%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Refining	-	8.77B	8.1B	5.36B	9.17B	19.76B	16.41B	11.78B
Refining Growth	-	-	-7.70%	-33.76%	70.95%	115.56%	-16.98%	-28.18%
Logistics	-	416.8M	323M	379.8M	282.1M	1.04B	1.02B	940.6M
Logistics Growth	-	-	-22.50%	17.59%	-25.72%	267.39%	-1.54%	-7.82%
Retail	-	-	-	681.7M	797.4M	956.9M	882.7M	-
Retail Growth	-	-	-	-	16.97%	20.00%	-7.75%	-
Retail	-	915.4M	838M	-	-	-	-	-
Retail Growth	-	-	-8.46%	-	-	-	-	-
Asphalt	11.8M	-	-	-	-	-	-	-
Asphalt Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Delek US Holdings, Inc. (DK) reported $10.67B in revenue for fiscal year 2024. This represents a 48% increase from $7.20B in 2011.

Delek US Holdings, Inc. (DK) saw revenue decline by 29.9% over the past year.

Delek US Holdings, Inc. (DK) reported a net loss of $514.9M for fiscal year 2024.

Dividend & Returns

Yes, Delek US Holdings, Inc. (DK) pays a dividend with a yield of 3.46%. This makes it attractive for income-focused investors.

Delek US Holdings, Inc. (DK) has a return on equity (ROE) of -73.0%. Negative ROE indicates the company is unprofitable.

Delek US Holdings, Inc. (DK) had negative free cash flow of $738.9M in fiscal year 2024, likely due to heavy capital investments.