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Delek US Holdings, Inc. (DK) stock

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NYSE: DK NYSE Oil & Gas Refining & Marketing Next results ~November 6, 2026

C+ Fundamentals grade

Delek US Holdings, Inc. is a US-listed company in the oil & gas refining & marketing industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$87

Valuation models combined (3)

Base case. Range ~$52–$100. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Delek US Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 14 selling0 purchases and 66 sales by directors and officers, last 12 monthsInsider trades
  • Funds162 adding, 130 cuttingOf 60 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Delek US Holdings files

Where Delek US stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $12.1bn, up 11.4% on a year earlier, against a decline of 5.6% a quarter earlier. Free-cash-flow margin rose to 5.5% from -7.5% a year earlier. Operating margin widened to 4.8% from -6.3%. The diluted share count is down 2.8% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 5 financial-health checks. Our valuation models combined value is $87.00 a share, against a share price of $78.90.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 6, 2026 (estimated)

Delek US Holdings, Inc.'s trailing-twelve-month revenue grew 11.4% year on year, with a free-cash-flow margin of 5.5%. Where it stands out: change in growth rate of +17.0pp ranks 2 of 16 oil & gas refining & marketing companies we cover. Where it lags: long-term debt as % of assets of 42.1% ranks 10 of 12 oil & gas refining & marketing companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 108% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 17.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 11.2 points on a year ago.
  • Shrinking share count. Diluted shares fell 2.8% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 190.3% over 90 days.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 56% and a beta of -0.4 against the S&P 500.
  • Insiders selling. 14 insiders sold $51M of stock over the past 365 days and none bought (82% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 42.1% ranks 10 of 12 oil & gas refining & marketing companies we cover (median 23.4%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.3% ranks 9 of 11 oil & gas refining & marketing companies we cover (median 0.1%).
  • Heavily shorted. 13.6% of the shares available to trade are sold short (2.8 days of average volume to cover).
  • Earnings expected to fall. The consensus expects earnings per share to fall 47% next year.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$5.48 against an average estimate of $2.64: beat by 107.8%
Revenue
$4.09bn, up 47.8% on a year earlier
Next report
November 6, 2026; average EPS estimate $8.12

Delek US Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.6%
  • 1 week-10.6%
  • 1 month-5.4%
  • This year+140.5%
  • 1 year+90.0%
  • 5 years+355.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12.1B
Operating margin
4.8%
Net margin
1.9%
EPS (TTM, diluted)
$3.70

Growth

Revenue growth
+11.4%
Change in growth rate
+17.0 pts
Share count change
−2.8%

Cash

Free cash flow (TTM)
$667M
FCF margin
5.5%
Stock pay % of revenue
0.3%

Earnings

Last results
April 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Dividend
  2. Announcement
  3. Agreement
  4. Financing
  5. Financing
  6. Announcement
  7. Insider trade
  8. Insider trade
  9. Insider trade
  10. Insider trade
  11. Results
  12. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Delek US Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Delek US Holdings, Inc.'s free cash flow after stock-based pay ( $48.2M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Delek US Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$60–$130 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$73 ~$67–$91 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$52 ~$100–$160 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$87 ~$52–$100 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Delek US Holdings, Inc. with Oil & Gas Refining & Marketing in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$17.52$17.80$26.48$25.19$26.84$13.54$12.63$23.24$23.06$17.30$29.19$70.19
Market value$1.1bn$1.1bn$1.9bn$2.2bn$2.1bn$997m$934m$1.7bn$1.5bn$1.1bn$1.8bn$4.3bn
+ Net debt (− = net cash)−$287m$144m$551m$722m$1.1bn$1.6bn$1.4bn$2.3bn$1.8bn$2.1bn$2.7bn$2.6bn
Enterprise value$787m$1.2bn$2.5bn$2.9bn$3.2bn$2.6bn$2.3bn$3.9bn$3.3bn$3.2bn$4.4bn$6.9bn
Multiples
Price / sales 0.3x0.3x0.3x0.2x0.2x0.1x0.1x0.1x0.1x0.1x0.2x0.4x
Price / earnings 55.4x—6.6x6.4x6.6x——6.5x76.2x——19.0x
Price / free cash flow —5.5x13.0x9.2x12.7x—6.3x11.5x2.4x—n/m6.3x
EV / EBITDA 4.5x18.5x7.4x3.6x4.6x—10.1x5.4x5.7x—6.3x6.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Delek US Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Cash operating profit has been a median 2.7% of total assets over 9 years.

  • Pricing power 6 / 20

    Gross margin has been a median 3.5%, moving by 4.0 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Operating margin has been a median 0.7%; its worst year was -6.3%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -0.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.7% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 6, 2026, before the open. Analysts expect revenue of $4.0bn and EPS of $8.12 (range $2.96 to $9.39) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $17.68 +168% $14.5bn +35%
Next $9.32 −47% $13.4bn −7%

Next year's EPS estimate has moved +190.3% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +142.2% on 90 days ago. In the last 30 days, 3 analysts raised Delek US Holdings, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Delek US Holdings, Inc., last 90 days
$0.00 $5.00 $10.00 $15.00 $20.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.30 Current fiscal year, 60 days ago: $11.94 Current fiscal year, 30 days ago: $15.93 Current fiscal year, 7 days ago: $17.53 Current fiscal year, Now: $17.68 $17.68 Next fiscal year, 90 days ago: $3.21 Next fiscal year, 60 days ago: $4.49 Next fiscal year, 30 days ago: $7.85 Next fiscal year, 7 days ago: $9.03 Next fiscal year, Now: $9.32 $9.32

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.30$3.21
60 days ago $11.94$4.49
30 days ago $15.93$7.85
7 days ago $17.53$9.03
Now $17.68$9.32

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.64 $5.48 +107.8%
Mar 2026 −$1.62 $0.08 +105.0%
Dec 2025 −$0.19 $2.31 +1292.5%
Sept 2025 $0.18 $7.13 +3892.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, April 29, 2026

No numeric guidance in Delek US Holdings, Inc.'s latest earnings release (filed April 29, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Delek US Holdings, Inc.'s revenue by +11.9% next year and +0.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.7%, weight 68%) and the company's own record (+4.0%, weight 32%) . How the weights are set.

Analyst recommendations

14 analysts, Nov 2026
Buy536%
Hold857%
Sell17%

Monthly trend

  1. Nov 202658114
  2. Oct 2026164112
  3. Sep 2026155112

Counts of recommendations published by analysts covering Delek US Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.6%
of tradable shares
Days to cover
2.84
at average volume
Short interest, 1 month
+31%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.6%
of shares
Employees
1,902
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +90.0%

$36.93 on October 31, 2025 to $70.19

ThenNowEffect
Revenue (last 12 months) $10.8bn $12.1bn +11.4%
P/S multiple 0.2x 0.4x +65.8%
Share count 62m 61m +2.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +204.9%

$23.02 on November 3, 2023 to $70.19

ThenNowEffect
Revenue (last 12 months) $17.7bn $12.1bn −31.9%
P/S multiple 0.1x 0.4x +297.0%
Share count 68m 61m +12.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DK−7%+84%−1%−25%+69%+141%
Industry peers (median)+36%+41%+11%−12%+18%+62%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DK42%75%42%25%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DK−47%−36%−28%−53%−42%−22%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 84% from June 4, 2018 to March 12, 2020. Getting back needed a 535% gain, reached on March 26, 2026, 2205 days after the low.

Price behaviour

52-week range
$26.26 – $81.55
From 52-week high
−13.9%
vs 50-day average
−5.1%
vs 200-day average
+32.5%
Volatility (1 year)
56%
Beta vs S&P 500
-0.41

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±7.4%
After a week
9 up, 3 down
typical move ±9.1%
After a month
7 up, 5 down
typical move ±14.4%
Results releasedNext dayS&P 500 next day5 days21 days
April 29, 2026 +13.5% +1.0% +10.3% +9.1%
February 27, 2026 +14.4% −0.4% +17.0% +26.5%
November 7, 2025 +6.5% +1.7% +4.4% −7.8%
August 6, 2025 −1.6% +0.7% +3.1% +50.5%
May 7, 2025 +8.8% +1.1% +26.5% +38.6%
February 25, 2025 −7.7% −0.4% −2.9% −0.6%
November 6, 2024 +10.7% +3.3% +20.7% +17.2%
August 6, 2024 −7.4% +0.2% −0.3% −8.0%
May 7, 2024 +4.3% +0.1% +4.2% −3.9%
February 27, 2024 −12.8% +0.1% −9.3% +9.5%
November 7, 2023 0.0% +0.4% +7.0% −0.2%
August 7, 2023 −0.5% +0.4% +3.2% +1.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Delek US Holdings, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Delek US Holdings, Inc.
$10B $12B $14B $16B $18B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $17B Revenue (TTM), FY23 Q4: $16.5B Revenue (TTM), FY24 Q1: $15.8B Revenue (TTM), FY24 Q2: $15B Revenue (TTM), FY24 Q3: $13.4B Revenue (TTM), FY24 Q4: $11.9B Revenue (TTM), FY25 Q1: $11.4B Revenue (TTM), FY25 Q2: $10.8B Revenue (TTM), FY25 Q3: $10.7B Revenue (TTM), FY25 Q4: $10.7B Revenue (TTM), FY26 Q1: $10.7B Revenue (TTM), FY26 Q2: $12.1B $12.1B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $17B
FY23 Q4 $16.5B
FY24 Q1 $15.8B
FY24 Q2 $15B
FY24 Q3 $13.4B
FY24 Q4 $11.9B
FY25 Q1 $11.4B
FY25 Q2 $10.8B
FY25 Q3 $10.7B
FY25 Q4 $10.7B
FY26 Q1 $10.7B
FY26 Q2 $12.1B
Revenue growth, TTM YoY Delek US Holdings, Inc.
-30% -20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -9.9% Revenue growth, TTM YoY, FY23 Q4: -18.7% Revenue growth, TTM YoY, FY24 Q1: -19.6% Revenue growth, TTM YoY, FY24 Q2: -15.2% Revenue growth, TTM YoY, FY24 Q3: -21.1% Revenue growth, TTM YoY, FY24 Q4: -28.0% Revenue growth, TTM YoY, FY25 Q1: -27.9% Revenue growth, TTM YoY, FY25 Q2: -27.9% Revenue growth, TTM YoY, FY25 Q3: -20.5% Revenue growth, TTM YoY, FY25 Q4: -9.5% Revenue growth, TTM YoY, FY26 Q1: -5.6% Revenue growth, TTM YoY, FY26 Q2: 11.4% 11.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -9.9%
FY23 Q4 -18.7%
FY24 Q1 -19.6%
FY24 Q2 -15.2%
FY24 Q3 -21.1%
FY24 Q4 -28.0%
FY25 Q1 -27.9%
FY25 Q2 -27.9%
FY25 Q3 -20.5%
FY25 Q4 -9.5%
FY26 Q1 -5.6%
FY26 Q2 11.4%
Operating margin (TTM) Delek US Holdings, Inc.
-10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 1.7% Operating margin (TTM), FY23 Q4: 1.5% Operating margin (TTM), FY24 Q1: 0.9% Operating margin (TTM), FY24 Q2: 0.7% Operating margin (TTM), FY24 Q3: -1.7% Operating margin (TTM), FY24 Q4: -4.1% Operating margin (TTM), FY25 Q1: -5.7% Operating margin (TTM), FY25 Q2: -6.3% Operating margin (TTM), FY25 Q3: -2.5% Operating margin (TTM), FY25 Q4: 2.8% Operating margin (TTM), FY26 Q1: 2.3% Operating margin (TTM), FY26 Q2: 4.8% 4.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 1.7%
FY23 Q4 1.5%
FY24 Q1 0.9%
FY24 Q2 0.7%
FY24 Q3 -1.7%
FY24 Q4 -4.1%
FY25 Q1 -5.7%
FY25 Q2 -6.3%
FY25 Q3 -2.5%
FY25 Q4 2.8%
FY26 Q1 2.3%
FY26 Q2 4.8%
FCF margin (TTM) Delek US Holdings, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 1.3% FCF margin (TTM), FY23 Q4: 3.7% FCF margin (TTM), FY24 Q1: 3.6% FCF margin (TTM), FY24 Q2: 2.7% FCF margin (TTM), FY24 Q3: -0.9% FCF margin (TTM), FY24 Q4: -4.2% FCF margin (TTM), FY25 Q1: -7.3% FCF margin (TTM), FY25 Q2: -7.5% FCF margin (TTM), FY25 Q3: -6.9% FCF margin (TTM), FY25 Q4: -0.1% FCF margin (TTM), FY26 Q1: 4.3% FCF margin (TTM), FY26 Q2: 5.5% 5.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 1.3%
FY23 Q4 3.7%
FY24 Q1 3.6%
FY24 Q2 2.7%
FY24 Q3 -0.9%
FY24 Q4 -4.2%
FY25 Q1 -7.3%
FY25 Q2 -7.5%
FY25 Q3 -6.9%
FY25 Q4 -0.1%
FY26 Q1 4.3%
FY26 Q2 5.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4.3 4.2 7.3 10.2 9.3 7.3 10.6 19.8 16.5 11.9 10.7 12.1
Gross profit — 0.0 0.4 1.0 0.9 −0.3 0.3 0.7 0.5 −0.0 0.6 0.9
EBITDA 0.2 0.1 0.3 0.8 0.7 −0.5 0.2 0.7 0.6 −0.1 0.7 1.0
Operating income 0.1 −0.0 0.2 0.6 0.5 −0.7 −0.0 0.5 0.2 −0.5 0.3 0.6
Net income 0.0 −0.2 0.3 0.3 0.3 −0.6 −0.1 0.3 0.0 −0.6 −0.0 0.2
Diluted EPS $0.32 −$2.49 $4.00 $3.95 $4.06 −$8.31 −$1.73 $3.59 $0.30 −$8.77 −$0.38 $3.70
Growth (year on year)
Revenue — −1.7% +73.1% +40.8% −9.1% −21.5% +45.8% +86.0% −16.8% −28.0% −9.5% +11.4%
EBITDA — −61.5% — +143.2% −15.4% −167.7% — +218.6% −20.2% −120.0% — —
Operating income — — — +239.4% −19.5% −248.8% — — −46.5% — — —
Net income — — — +17.8% −8.7% −296.8% — — — — — —
Diluted EPS — — — −1.3% +2.8% −304.7% — — — — — —
Margins
Gross margin — 0.8% 5.9% 9.5% 9.6% −3.6% 2.4% 3.8% 3.3% −0.4% 5.7% 7.1%
EBITDA margin 4.1% 1.6% 4.6% 7.9% 7.4% −6.4% 2.2% 3.7% 3.5% −1.0% 6.5% 8.3%
Operating margin 1.6% −1.2% 2.5% 6.0% 5.3% −10.0% −0.3% 2.3% 1.5% −4.1% 2.8% 4.8%
Net margin 0.5% −3.7% 4.0% 3.3% 3.3% −8.4% −1.2% 1.3% 0.1% −4.7% −0.2% 1.9%
Free-cash-flow margin −0.2% 4.8% 2.0% 2.3% 1.7% −7.6% 1.4% 0.7% 3.8% −4.2% 0.1% 5.7%
Cash flow
Cash from operations 0.2 0.2 0.3 0.6 0.6 −0.3 0.4 0.4 1.0 −0.1 0.5 1.3
Capital spending 0.2 0.0 0.2 0.3 0.4 0.3 0.2 0.3 0.4 0.4 0.5 0.6
Free cash flow −0.0 0.2 0.1 0.2 0.2 −0.6 0.1 0.1 0.6 −0.5 0.0 0.7
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0
Free cash flow after stock pay −0.0 0.2 0.1 0.2 0.1 −0.6 0.1 0.1 0.6 −0.5 −0.1 0.6
Balance sheet
Cash 0.3 0.7 0.9 1.1 1.0 0.8 0.9 0.8 0.8 0.7 0.6 0.6
Total debt 0.0 0.8 1.5 1.8 2.1 2.4 2.2 3.1 2.7 2.8 3.3 3.2
Net debt (negative = net cash) −0.3 0.1 0.6 0.7 1.1 1.6 1.4 2.3 1.8 2.1 2.7 2.6
Diluted shares 61m 62m 72m 87m 77m 74m 74m 72m 65m 64m 61m 61m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1
Buybacks 0.0 0.0 0.0 0.4 0.2 0.0 0.0 0.1 0.0 0.0 — —
Total returned 0.1 0.0 0.1 0.4 0.3 0.1 0.0 0.1 0.1 0.1 0.1 0.1

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $7.6bn
Short-term assets $2.6bnLonger-term assets $4.9bn
What it owes, and who funded it · $3.8bn
Short-term liabilities $3.4bnShareholders' equity $423m
  • Short-term assets cover short-term liabilities $2.6bn of assets due within a year against $3.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $629m of cash against $3.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 755% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 210% to 755% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.3bn of operating cash flow against $3.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Delek US Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$61.8M
Diluted share count
−2.8%
year over year
Total shareholder yield
1.4%
dividends 1.4% + buybacks 0.0% of market value
Dividend payout ratio
28%
of net income paid out
Sales & admin spending
1.9%
of revenue
Days sales outstanding
26 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas refining & marketing
Last 12 months unless stated DK PARR UGP CLMT DINO CAPL Median
Revenue, last 12 months $12.1bn $8.6bn $25.5bn $4.6bn $34.8bn $3.9bn $10.3bn
Revenue growth, last 12 months 11.4% 13.2% 2.5% 12.8% 29.5% 0.3% 13.0%
Revenue growth, 3-year average −12.0% 5.5% — — 1.5% −5.4% −0.8%
Revenue growth, latest quarter 47.8% 56.8% — 40.8% 49.7% 22.6% 46.4%
Gross margin 7.1% 14.2% 6.6% 6.6% 18.5% 10.9% 8.0%
Operating margin 4.8% 13.4% 0.1% 1.0% 13.5% 2.9% 2.9%
Operating margin, 3-year average −0.3% 6.4% — 0.7% 5.8% 2.3% 2.3%
Net margin 1.9% 9.9% 1.7% −3.0% 10.1% 1.4% 1.8%
Cash from operations / revenue 10.5% 6.4% 3.8% 3.2% 10.8% 3.0% 5.1%
Free-cash-flow margin 5.5% 4.8% 3.0% 1.3% 9.4% 2.3% 4.8%
Free-cash-flow margin, 3-year average 0.2% 2.4% 1.7% — 5.2% 1.8% 2.4%
Stock pay / revenue 0.3% 0.2% 0.0% — 0.1% 0.0% 0.1%
Change in share count −2.8% −6.4% −2.0% 1.0% −4.3% −1.4% −1.4%

Median of all 16 companies we cover in oil & gas refining & marketing. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

16 oil & gas refining & marketing companies
Measure Company Peer median Rank
Revenue growth Growth 11.4% 13.2% 10 of 16
Change in growth rate Growth +17.0pp +12.9pp 2 of 16
Gross margin Profitability 7.1% 7.1% 7 of 14
Operating margin Profitability 4.8% 4.8% 7 of 14
Net margin Profitability 1.9% 1.9% 8 of 16
Free-cash-flow margin Cash generation 5.5% 4.8% 7 of 15
Stock pay as % of revenue Cash generation 0.3% 0.1% 9 of 11
Long-term debt as % of assets Balance sheet 42.1% 23.4% 10 of 12
Change in share count Balance sheet -2.8% -1.4% 6 of 15
Days sales outstanding Balance sheet 26 days 26 days 6 of 13

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Refining $10.2B 95.2% ▼ 8.4%
Logistics $514M 4.8% ▲ 21.5%

From Delek US Holdings, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.1B
Institutions reporting
299
Shares held vs prior quarter
▲ 0.6%
Positions opened / closed
59 / 36

Top buyers and sellers, Q2 2026: 162 institutions bought and 130 sold ; the biggest buyer was Dimensional Fund Advisors LP (+638K shares) and the biggest seller Goldman Sachs Group Inc (−771K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $275M 5.4M 8.8% ▲ 5.5%
Vanguard Portfolio Management LLC $197M 3.9M 6.3% ▲ 6.7%
State Street Corp $164M 3.2M 5.2% ▲ 5.8%
Rubric Capital Management LP $137M 2.7M 4.4% 0.0%
Vanguard Capital Management LLC $135M 2.7M 4.3% ▲ 1.6%
Two Sigma Investments, LP $111M 2.2M 3.5% ▲ 14.8%
FMR LLC $103M 2.0M 3.3% ▲ 13.0%
Allianz Asset Management Gmbh $94.4M 1.9M 3.0% ▲ 2.2%
River Road Asset Management, LLC $93.4M 1.8M 3.0% ▼ 25.9%
Goldman Sachs Group Inc $81M 1.6M 2.6% ▼ 32.6%
Geode Capital Management, LLC $78.1M 1.5M 2.5% ▲ 8.2%
Ion Fund Management Ltd $75.3M 1.5M 2.4% ▲ 8.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Delek US Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $51.4M 66 trades by 14 insiders · 82% under pre-set plans
Net ▼ $51.4M net selling
Insider Date Trade Shares Price Value
Finnerty William J Director September 11, 2026 Sell 1,341 $76.67 $102,814
Finnerty William J Director September 11, 2026 Sell 1,602 $77.59 $124,299
Russell Amber EVP, Refining September 11, 2026 Sell 5,392 $75.50 $407,096
Sutil Vicky Director September 4, 2026 Sell pre-set plan 6,397 $71.50 $457,386
Spiegel Reuven EVP, Special Projects September 1, 2026 Sell 500 $73.36 $36,680
Spiegel Reuven EVP, Special Projects September 1, 2026 Sell 7,000 $73.20 $512,400
Sullivan Gary M Jr. Director August 24, 2026 Sell 27,688 $69.01 $1.9M
Finnerty William J Director August 21, 2026 Sell 1,457 $64.70 $94,268
Marcogliese Richard J Director August 21, 2026 Sell 2,000 $71.05 $142,100
Spiegel Reuven EVP, Special Projects August 18, 2026 Sell pre-set plan 10,000 $68.21 $682,100
Soreq Avigal President & CEO August 17, 2026 Sell pre-set plan 4,603 $64.38 $296,341
Soreq Avigal President & CEO August 17, 2026 Sell pre-set plan 13,074 $67.20 $878,573

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Delek US Holdings, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Van Taylor(R-TX 3):Sale (full), $1,001 - $15,000, traded March 25, 2019, filed April 15, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around August 5, 2026 estimated from the company's past filing pattern, not announced

  • April 29, 2026
  • February 27, 2026
  • November 7, 2025
  • August 6, 2025
  • May 7, 2025
  • February 25, 2025

Recent SEC filings

Data status

When each part of this page on Delek US Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Delek US Holdings, Inc. in brief

What does Delek US Holdings, Inc. do?
Delek US Holdings, Inc. is a US-listed company in the oil & gas refining & marketing industry. Its financial year ends in December.
What is Delek US Holdings, Inc.'s stock ticker?
Delek US Holdings, Inc. trades under the ticker DK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Delek US Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Delek US Holdings, Inc. reported revenue of $12.1B, 11.4% higher than a year earlier, according to its SEC filings.
What is Delek US Holdings, Inc.'s free cash flow?
Delek US Holdings, Inc.'s free-cash-flow margin is 5.5% of revenue over the trailing twelve months, ranking 7 of the 15 oil & gas refining & marketing companies we cover.
Who are Delek US Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Delek US Holdings, Inc.'s market cap?
On November 2, 2026, Delek US Holdings, Inc.'s market capitalisation was about $4.3B, with a price-to-earnings ratio of 19.0 and net debt of $2.6B. Market figures come from third-party market data and may be delayed.
Does Delek US Holdings, Inc. pay a dividend?
Yes: Delek US Holdings, Inc. paid $61.8M in dividends over the trailing twelve months, a dividend yield of 1.41% and a payout ratio of 27.5%.
How much debt does Delek US Holdings, Inc. have?
Delek US Holdings, Inc.'s debt-to-equity ratio is 754.6%, from its latest balance sheet (209.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Delek US Holdings, Inc.'s competitors?
In our Oil & Gas Refining & Marketing peer group, the companies closest to Delek US Holdings, Inc. are PAR Pacific Holdings, Inc., Ultrapar Holdings Inc, Calumet, Inc., HF Sinclair Corp and Crossamerica Partners LP. The side-by-side comparison below sets their revenue, margins and growth against Delek US Holdings, Inc.'s.
Are insiders buying or selling Delek US Holdings, Inc. stock?
Over the last 12 months, Delek US Holdings, Inc.'s directors and officers reported 0 open-market purchases and 66 sales on Form 4. The insider trading page charts every trade.
When is Delek US Holdings, Inc.'s next earnings date?
Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Delek US Holdings, Inc. announces its own schedule.