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Delixy Holdings Ltd (DLXY) stock

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NASDAQ: DLXY Nasdaq Oil & Gas Refining & Marketing

E Fundamentals grade

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

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$8.2

Revenue-to-maturity cash-flow model

Base case. Range ~$8.2–$10 across our lower- and higher-growth cases (0%–5% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Delixy Holdings Ltd 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.

  • Funds3 adding, 5 cuttingOf 2 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Delixy Holdings files

Where Delixy stands after its latest Filing

Revenue for the twelve months was $308m. That puts it 13 of 16 for growth among the oil & gas refining & marketing companies we cover. Free-cash-flow margin held at -1.7%. The diluted share count is up 4.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $8.23 a share, against a share price of $1.52.

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

Delixy Holdings Ltd's trailing-twelve-month revenue fell 2.3% year on year, with a free-cash-flow margin of -1.7%. Where it lags: gross margin of 0.8% ranks 14 of 14 oil & gas refining & marketing companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -2.3% (-11.2pp vs the prior quarter).

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

Nothing in Delixy Holdings Ltd's latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 2.3% over the last 12 months.
  • Growth slowing. The growth rate is 11.2 points lower than a quarter earlier.
  • Loss-making. Operating margin is -1.5%: costs exceed revenue.
  • Burning cash. Free cash flow was -1.7% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 4.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 485% and a beta of -3.5 against the S&P 500.

Price chart

  • 1 day+5.3%
  • 1 week-7.5%
  • 1 month-20.4%
  • This year-63.8%
  • 1 year-70.1%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$308M
Operating margin
-1.5%
Net margin
-1.5%
EPS (TTM, diluted)
$-0.29

Growth

Revenue growth
−2.3%
Change in growth rate
−11.2 pts
Share count change
+4.3%

Cash

Free cash flow (TTM)
-$5.2M
FCF margin
-1.7%

News & updates

Updated October 31, 2026

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

No recent updates are available for DLXY from the sources we follow. See filings →

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

Delixy Holdings Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Delixy Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.74 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$8.2 ~$8.2–$10 Left out: out of range vs price (5.14x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
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
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$4.2 ~$4.3–$14 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity 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. ~$4.2 ~$4.2–$14 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Delixy Holdings Ltd 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 2025
Share price$4.42
Market value$69m
+ Net debt (− = net cash)−$2m
Enterprise value$67m
Multiples
Price / sales 0.2x
Price / earnings —
Price / free cash flow —
EV / EBITDA —

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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

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

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Delixy Holdings Ltd: too few analysts cover it.

Positioning

Short interest
7.5%
of tradable shares
Days to cover
0.02
at average volume
Short interest, 1 month
+678%
to October 15, 2026
Held by institutions
2%
of shares
Held by insiders
30.3%
of shares
Employees
11
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

Return and risk by year

Calendar year 2026 to date
Return
DLXY−64%
Industry peers (median)+105%
S&P 500+11%
Months that ended higher
DLXY46%
S&P 50046%
Largest fall from a high during the year
DLXY−87%
S&P 500−9%

Worst fall since July 9, 2025: 96% from September 29, 2025 to October 30, 2026. Getting back needed a 2111% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.52 – $11.45
From 52-week high
−86.0%
vs 50-day average
−31.6%
vs 200-day average
−45.3%
Volatility (1 year)
485%
Beta vs S&P 500
-3.45

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.

Delixy Holdings Ltd in five measures

Fundamentals grade E
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) Delixy Holdings Ltd
$280M $290M $300M $310M $320M FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY22 Q4: $319.8M Revenue (TTM), FY23 Q4: $289.2M Revenue (TTM), FY24 Q4: $314.9M Revenue (TTM), FY25 Q4: $307.7M $307.7M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY22 Q4 $319.8M
FY23 Q4 $289.2M
FY24 Q4 $314.9M
FY25 Q4 $307.7M
Operating margin (TTM) Delixy Holdings Ltd
-1.5% -1% -0.5% 0% 0.5% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY22 Q4: 0.1% Operating margin (TTM), FY23 Q4: 0.4% Operating margin (TTM), FY24 Q4: 0.2% Operating margin (TTM), FY25 Q4: -1.5% -1.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY22 Q4 0.1%
FY23 Q4 0.4%
FY24 Q4 0.2%
FY25 Q4 -1.5%
FCF margin (TTM) Delixy Holdings Ltd
-2% -1% 0% 1% 2% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY22 Q4: -1.5% FCF margin (TTM), FY23 Q4: 1.4% FCF margin (TTM), FY24 Q4: 0.2% FCF margin (TTM), FY25 Q4: -1.7% -1.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY22 Q4 -1.5%
FY23 Q4 1.4%
FY24 Q4 0.2%
FY25 Q4 -1.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 320 289 315 308
Gross profit 2 4 4 3
EBITDA 0 1 1 —
Operating income 0 1 1 −5
Net income 0 1 1 −4
Diluted EPS $0.02 $0.08 $0.07 −$0.29
Growth (year on year)
Revenue — −9.6% +8.9% −2.3%
Margins
Gross margin 0.7% 1.4% 1.4% 0.8%
EBITDA margin 0.1% 0.4% 0.2% —
Operating margin 0.1% 0.4% 0.2% −1.5%
Net margin 0.1% 0.4% 0.3% −1.5%
Cash flow
Cash from operations −5 4 1 −5
Balance sheet
Cash 6 8 3 2
Total debt 0 0 0 0
Net debt (negative = net cash) −6 −8 −3 −2
Diluted shares 15m 15m 15m 16m
Returned to shareholders
Dividends — 2 5 —
Total returned — 2 5 —

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

2 of 2 checks passed · December 31, 2025
What it owns · $25m
Short-term assets $25mLonger-term assets $0m
What it owes, and who funded it · $25m
Short-term liabilities $25mLonger-term liabilities $0mShareholders' equity $0m
  • Short-term assets cover short-term liabilities $25m of assets due within a year against $25m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $25m short-term assets against $0 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Delixy Holdings Ltd'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)
$4.7M
Returned to shareholders
790%
of free cash flow
Diluted share count
+4.3%
year over year
Total shareholder yield
18.9%
dividends 18.9% + buybacks 0.0% of market value
Days sales outstanding
27 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas refining & marketing
Last 12 months unless stated DLXY UFG BANL PTLE GPRE CAPL Median
Revenue, last 12 months $308m $264m $538m $72m $1.8bn $3.9bn $10.3bn
Revenue growth, last 12 months −2.3% 70.0% −9.1% −27.0% −23.7% 0.3% 13.0%
Revenue growth, 3-year average — — — — −19.9% −5.4% −0.8%
Revenue growth, latest quarter — — — — −19.3% 22.6% 46.4%
Gross margin 0.8% 1.8% 0.8% 1.3% 16.0% 10.9% 8.0%
Operating margin −1.5% −0.6% −0.5% −0.6% 7.4% 2.9% 2.9%
Operating margin, 3-year average — — — — 1.1% 2.3% 2.3%
Net margin −1.5% −0.7% −0.6% −1.6% 6.8% 1.4% 1.8%
Cash from operations / revenue −1.7% −0.9% 0.7% −17.1% 8.4% 3.0% 5.1%
Free-cash-flow margin −1.7% −0.9% 0.7% — 7.0% 2.3% 4.8%
Free-cash-flow margin, 3-year average — — — — 2.4% 1.8% 2.4%
Stock pay / revenue — 0.0% — 1.3% 0.6% 0.0% 0.1%
Change in share count 4.3% — 0.0% 192.2% 19.2% −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 -2.3% 13.2% 13 of 16
Change in growth rate Growth -11.2pp +12.9pp 13 of 16
Gross margin Profitability 0.8% 7.1% 14 of 14
Operating margin Profitability -1.5% 4.8% 14 of 14
Net margin Profitability -1.5% 1.9% 14 of 16
Free-cash-flow margin Cash generation -1.7% 4.8% 15 of 15
Change in share count Balance sheet 4.3% -1.4% 13 of 15
Days sales outstanding Balance sheet 27 days 26 days 8 of 13

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

Who owns it

Funds buying and selling
Reported value
$60,708
Institutions reporting
5
Shares held vs prior quarter
▲ 16.2%
Positions opened / closed
1 / 3

Top buyers and sellers, Q2 2026: 3 institutions bought and 5 sold ; the biggest buyer was Xtx Topco Ltd (+46K shares) and the biggest seller Morgan Stanley (−15K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Xtx Topco Ltd $26,057 58K 42.9% ▲ 361.1%
Virtu Financial LLC $11,000 24K 18.1% ▼ 26.3%
Citadel Advisors LLC $9,942 22K 16.4% ▲ 28.4%
Two Sigma Securities, LLC $8,097 19K 13.3% New
Two Sigma Investments, LP $5,612 13K 9.2% ▼ 28.6%

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 Delixy Holdings Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Delixy Holdings Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
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.

Delixy Holdings Ltd in brief

What does Delixy Holdings Ltd do?
Delixy Holdings Ltd is a US-listed company in the oil & gas refining & marketing industry. Its financial year ends in December.
What is Delixy Holdings Ltd's stock ticker?
Delixy Holdings Ltd trades under the ticker DLXY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Delixy Holdings Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Delixy Holdings Ltd reported revenue of $308M, 2.3% lower than a year earlier, according to its SEC filings.
What is Delixy Holdings Ltd's free cash flow?
Delixy Holdings Ltd's free-cash-flow margin is -1.7% of revenue over the trailing twelve months, ranking 15 of the 15 oil & gas refining & marketing companies we cover.
Who are Delixy Holdings Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Xtx Topco Ltd, Virtu Financial LLC and Citadel Advisors LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Delixy Holdings Ltd's market cap?
On December 31, 2025, Delixy Holdings Ltd's market capitalisation was about $69.2M and net debt of -$1.8M. Market figures come from third-party market data and may be delayed.
Does Delixy Holdings Ltd pay a dividend?
Yes: Delixy Holdings Ltd paid $4.7M in dividends over the trailing twelve months, a dividend yield of 18.95%.
Who are Delixy Holdings Ltd's competitors?
In our Oil & Gas Refining & Marketing peer group, the companies closest to Delixy Holdings Ltd are Uni-fuels Holdings Ltd, CBL International Ltd, PTL Ltd, Green Plains Inc. and Crossamerica Partners LP. The side-by-side comparison below sets their revenue, margins and growth against Delixy Holdings Ltd's.