Delek Logistics Partners Lp Financials

DKL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Delek Logistics Partners Lp (DKL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 36/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Delek Logistics Partners Lp has an operating margin of 17.9%, meaning the company retains $18 of operating profit per $100 of revenue. This results in a moderate score of 62/100, indicating healthy but not exceptional operating efficiency. This is down from 21.6% the prior year.

Growth

Delek Logistics Partners Lp's revenue grew 7.7% year-over-year to $1.0B, a solid pace of expansion. This earns a growth score of 46/100.

Liquidity

Delek Logistics Partners Lp's current ratio of 1.12 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 18/100, which could limit financial flexibility.

Cash Flow

While Delek Logistics Partners Lp generated $237.1M in operating cash flow, capex of $267.8M consumed most of it, leaving -$30.6M in free cash flow. This results in a low score of 17/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

4/9

Delek Logistics Partners Lp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.34x

For every $1 of reported earnings, Delek Logistics Partners Lp generates $1.34 in operating cash flow ($237.1M OCF vs $176.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.0x

Delek Logistics Partners Lp earns $1.0 in operating income for every $1 of interest expense ($181.8M vs $179.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.0B

YoY+7.7%

5Y CAGR+12.5%

10Y CAGR+5.6%

Delek Logistics Partners Lp generated $1.0B in revenue in fiscal year 2025. This represents an increase of 7.7% from the prior year.

EBITDA

$307.4M

YoY+2.8%

5Y CAGR+7.4%

10Y CAGR+12.2%

Delek Logistics Partners Lp's EBITDA was $307.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.8% from the prior year.

Net Income

$176.5M

YoY+23.7%

5Y CAGR+2.1%

10Y CAGR+10.3%

Delek Logistics Partners Lp reported $176.5M in net income in fiscal year 2025. This represents an increase of 23.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$30.6M

YoY-139.6%

Delek Logistics Partners Lp generated -$30.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 139.6% from the prior year.

Cash & Debt

$10.9M

YoY+102.3%

5Y CAGR+20.7%

Delek Logistics Partners Lp held $10.9M in cash against $2.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

21.2%

YoY-4.7pp

5Y CAGR-15.5pp

10Y CAGR-4.8pp

Delek Logistics Partners Lp's gross margin was 21.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.7 percentage points from the prior year.

Operating Margin

17.9%

YoY-3.6pp

5Y CAGR-14.0pp

10Y CAGR+4.8pp

Delek Logistics Partners Lp's operating margin was 17.9% in fiscal year 2025, reflecting core business profitability. This is down 3.6 percentage points from the prior year.

Net Margin

17.4%

YoY+2.2pp

5Y CAGR-10.9pp

10Y CAGR+6.2pp

Delek Logistics Partners Lp's net profit margin was 17.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$10.0M

Delek Logistics Partners Lp spent $10.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$267.8M

YoY+107.5%

5Y CAGR+82.4%

10Y CAGR+29.6%

Delek Logistics Partners Lp invested $267.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 107.5% from the prior year.

DKL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.0B+7.7%	$940.6M-7.8%	$1.0B-1.5%	$1.0B+47.9%	$700.9M+24.4%	$563.4M
Cost of Revenue	$798.2M+14.5%	$696.9M-5.2%	$735.4M-6.6%	$787.0M+62.3%	$484.8M+35.9%	$356.7M
Gross Profit	$215.2M-11.7%	$243.7M-14.5%	$285.0M+14.3%	$249.4M+15.4%	$216.1M+4.5%	$206.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$28.6M-20.3%	$35.9M+45.1%	$24.8M-27.5%	$34.2M+59.3%	$21.5M-5.0%	$22.6M
Operating Income	$181.8M-10.3%	$202.8M-15.1%	$238.9M+14.0%	$209.7M+10.1%	$190.5M+6.0%	$179.8M
Interest Expense	$179.3M+18.8%	$151.0M+5.4%	$143.2M+74.0%	$82.3M+63.9%	$50.2M+17.1%	$42.9M
Income Tax	$458K-4.4%	$479K-60.2%	$1.2M+215.4%	$382K+149.7%	$153K-31.4%	$223K
Net Income	$176.5M+23.7%	$142.7M+13.0%	$126.2M-20.6%	$159.1M-3.5%	$164.8M+3.5%	$159.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$255.8M-2.1%	$261.3M+6.1%	$246.3M-1.4%	$249.9M+19.1%	$209.9M-2.0%	$214.1M-19.1%	$264.6M+5.0%	$252.1M
Cost of Revenue	$211.9M+2.2%	$207.3M+13.4%	$182.8M-6.8%	$196.2M+22.0%	$160.9M-2.6%	$165.2M-13.2%	$190.3M+5.4%	$180.6M
Gross Profit	$43.9M-18.7%	$54.0M-15.1%	$63.6M+18.3%	$53.8M+9.7%	$49.0M+0.3%	$48.8M-34.3%	$74.4M+4.0%	$71.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$6.3M+39.6%	$4.5M-49.5%	$8.9M+0.9%	$8.9M-4.9%	$9.3M-40.8%	$15.7M+161.7%	$6.0M+23.7%	$4.9M
Operating Income	$36.4M-19.7%	$45.4M-13.5%	$52.4M+10.2%	$47.6M+25.2%	$38.0M+19.5%	$31.8M-53.5%	$68.5M+6.1%	$64.5M
Interest Expense	$48.5M+1.0%	$48.0M+15.1%	$41.7M+1.5%	$41.1M+6.9%	$38.4M+3.8%	$37.0M+5.0%	$35.3M-12.3%	$40.2M
Income Tax	-$313K-191.0%	$344K+40.4%	$245K+34.6%	$182K+437.0%	-$54K-136.0%	$150K+163.2%	$57K-82.5%	$326K
Net Income	N/A	N/A	N/A	$39.0M	N/A	N/A	N/A	$32.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DKL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.8B+36.1%	$2.0B+24.3%	$1.6B-2.2%	$1.7B+79.6%	$935.1M-2.2%	$956.4M
Current Assets	$400.8M+174.7%	$145.9M+91.3%	$76.3M+16.9%	$65.2M+183.2%	$23.0M-21.4%	$29.3M
Cash & Equivalents	$10.9M+102.3%	$5.4M+43.4%	$3.8M-52.9%	$8.0M+85.7%	$4.3M+1.2%	$4.2M
Inventory	$17.9M+230.1%	$5.4M+139.7%	$2.3M+52.7%	$1.5M-38.4%	$2.4M-23.1%	$3.1M
Accounts Receivable	N/A	N/A	N/A	$53.3M+246.6%	$15.4M-1.9%	$15.7M
Goodwill	$12.2M0.0%	$12.2M0.0%	$12.2M-54.9%	$27.1M+121.7%	$12.2M0.0%	$12.2M
Total Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Current Liabilities	$356.5M+301.6%	$88.8M-2.0%	$90.6M-14.7%	$106.2M+9.7%	$96.8M+242.1%	$28.3M
Long-Term Debt	$2.3B+25.0%	$1.9B+12.0%	$1.7B+1.7%	$1.6B+83.2%	$899.0M	N/A
Total Equity	N/A	N/A	N/A	N/A	N/A	N/A
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$2.8B+1.2%	$2.7B-0.2%	$2.8B+14.9%	$2.4B+17.3%	$2.0B+4.1%	$2.0B+20.8%	$1.6B-1.9%	$1.7B
Current Assets	$400.8M+4.7%	$382.8M-6.6%	$409.8M+161.2%	$156.9M+7.6%	$145.9M+69.8%	$85.9M-11.0%	$96.6M-8.5%	$105.5M
Cash & Equivalents	$10.9M+57.6%	$6.9M+381.3%	$1.4M-31.8%	$2.1M-60.9%	$5.4M-26.4%	$7.3M+43.2%	$5.1M-47.2%	$9.7M
Inventory	$17.9M-3.9%	$18.6M+8.7%	$17.1M+97.9%	$8.7M+59.6%	$5.4M+17.2%	$4.6M+163.8%	$1.8M+6.1%	$1.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$12.2M0.0%	$12.2M0.0%	$12.2M0.0%	$12.2M0.0%	$12.2M0.0%	$12.2M0.0%	$12.2M0.0%	$12.2M
Total Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Liabilities	$356.5M-3.7%	$370.2M-16.4%	$442.6M+354.1%	$97.5M+9.8%	$88.8M+27.6%	$69.6M-0.6%	$70.0M+22.4%	$57.2M
Long-Term Debt	$2.3B+2.5%	$2.3B+3.5%	$2.2B+3.1%	$2.1B+14.4%	$1.9B-1.0%	$1.9B+20.9%	$1.6B-2.2%	$1.6B
Total Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DKL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$237.1M+14.9%	$206.3M-8.4%	$225.3M+17.3%	$192.2M-30.2%	$275.2M+42.6%	$193.0M
Capital Expenditures	$267.8M+107.5%	$129.0M+34.3%	$96.1M-31.9%	$141.1M+512.1%	$23.1M+73.7%	$13.3M
Free Cash Flow	-$30.6M-139.6%	$77.3M-40.2%	$129.2M+153.0%	$51.1M-79.7%	$252.1M+40.3%	$179.7M
Investing Cash Flow	-$444.2M-15.5%	-$384.6M-329.1%	-$89.6M+88.4%	-$770.4M-4609.3%	-$16.4M+86.7%	-$123.1M
Financing Cash Flow	$212.6M+18.2%	$179.9M+228.6%	-$139.9M-124.0%	$581.9M+324.9%	-$258.8M-263.5%	-$71.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$10.0M	$0	$0	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$43.2M-21.4%	$54.9M-48.9%	$107.4M+240.5%	$31.6M-36.8%	$49.9M+100.0%	$24.9M-71.5%	$87.6M+99.8%	$43.9M
Capital Expenditures	$30.6M-54.4%	$67.2M-41.3%	$114.5M+106.4%	$55.5M+20.5%	$46.0M-18.7%	$56.6M+273.6%	$15.2M+34.6%	$11.3M
Free Cash Flow	$12.6M+202.7%	-$12.3M-73.8%	-$7.1M+70.5%	-$23.9M-718.8%	$3.9M+112.2%	-$31.7M-143.7%	$72.5M+122.3%	$32.6M
Investing Cash Flow	-$32.5M+49.1%	-$64.0M+43.3%	-$112.9M+51.9%	-$234.8M-235.1%	-$70.1M+76.6%	-$299.1M-5279.6%	-$5.6M+43.6%	-$9.9M
Financing Cash Flow	-$6.7M-146.1%	$14.5M+201.1%	$4.8M-97.6%	$199.9M+997.4%	$18.2M-93.4%	$276.4M+419.0%	-$86.6M-208.5%	-$28.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0	$0-100.0%	$10.0M	$0	$0	$0	$0

DKL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	21.2%-4.7pp	25.9%-2.0pp	27.9%+3.9pp	24.1%-6.8pp	30.8%-5.9pp	36.7%
Operating Margin	17.9%-3.6pp	21.6%-1.9pp	23.4%+3.2pp	20.2%-6.9pp	27.2%-4.7pp	31.9%
Net Margin	17.4%+2.2pp	15.2%+2.8pp	12.4%-3.0pp	15.3%-8.2pp	23.5%-4.8pp	28.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	6.3%-0.6pp	7.0%-0.7pp	7.7%-1.8pp	9.5%-8.2pp	17.6%+1.0pp	16.7%
Current Ratio	1.12-0.5	1.64+0.8	0.84+0.2	0.61+0.4	0.24-0.8	1.04
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	-3.0%-11.2pp	8.2%-4.4pp	12.7%+7.7pp	4.9%-31.0pp	36.0%+4.1pp	31.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	17.2%-3.5pp	20.6%-5.2pp	25.8%+4.3pp	21.5%-1.8pp	23.4%+0.5pp	22.8%-5.3pp	28.1%-0.3pp	28.4%
Operating Margin	14.2%-3.1pp	17.4%-3.9pp	21.3%+2.2pp	19.0%+0.9pp	18.1%+3.3pp	14.9%-11.0pp	25.9%+0.3pp	25.6%
Net Margin	N/A	N/A	N/A	15.6%	N/A	N/A	N/A	13.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	1.6%	N/A	N/A	N/A	2.0%
Current Ratio	1.12+0.1	1.03+0.1	0.93-0.7	1.61-0.0	1.64+0.4	1.24-0.1	1.38-0.5	1.84
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	4.9%+9.6pp	-4.7%-1.8pp	-2.9%+6.7pp	-9.6%-11.4pp	1.8%+16.6pp	-14.8%-42.2pp	27.4%+14.5pp	12.9%

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Frequently Asked Questions

What is Delek Logistics Partners Lp's annual revenue?

Delek Logistics Partners Lp (DKL) reported $1.0B in total revenue for fiscal year 2025. This represents a 7.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Delek Logistics Partners Lp's revenue growing?

Delek Logistics Partners Lp (DKL) revenue grew by 7.7% year-over-year, from $940.6M to $1.0B in fiscal year 2025.

Is Delek Logistics Partners Lp profitable?

Yes, Delek Logistics Partners Lp (DKL) reported a net income of $176.5M in fiscal year 2025, with a net profit margin of 17.4%.

What is Delek Logistics Partners Lp's EBITDA?

Delek Logistics Partners Lp (DKL) had EBITDA of $307.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Delek Logistics Partners Lp have?

As of fiscal year 2025, Delek Logistics Partners Lp (DKL) had $10.9M in cash and equivalents against $2.3B in long-term debt.

What is Delek Logistics Partners Lp's gross margin?

Delek Logistics Partners Lp (DKL) had a gross margin of 21.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Delek Logistics Partners Lp's operating margin?

Delek Logistics Partners Lp (DKL) had an operating margin of 17.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Delek Logistics Partners Lp's net profit margin?

Delek Logistics Partners Lp (DKL) had a net profit margin of 17.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Delek Logistics Partners Lp's free cash flow?

Delek Logistics Partners Lp (DKL) generated -$30.6M in free cash flow during fiscal year 2025. This represents a -139.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Delek Logistics Partners Lp's operating cash flow?

Delek Logistics Partners Lp (DKL) generated $237.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Delek Logistics Partners Lp's total assets?

Delek Logistics Partners Lp (DKL) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Delek Logistics Partners Lp's capital expenditures?

Delek Logistics Partners Lp (DKL) invested $267.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Delek Logistics Partners Lp buy back shares?

Yes, Delek Logistics Partners Lp (DKL) spent $10.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Delek Logistics Partners Lp's current ratio?

Delek Logistics Partners Lp (DKL) had a current ratio of 1.12 as of fiscal year 2025, which is considered adequate.

What is Delek Logistics Partners Lp's return on assets (ROA)?

Delek Logistics Partners Lp (DKL) had a return on assets of 6.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Delek Logistics Partners Lp's Piotroski F-Score?

Delek Logistics Partners Lp (DKL) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Delek Logistics Partners Lp's earnings high quality?

Delek Logistics Partners Lp (DKL) has an earnings quality ratio of 1.34x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Delek Logistics Partners Lp cover its interest payments?

Delek Logistics Partners Lp (DKL) has an interest coverage ratio of 1.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Delek Logistics Partners Lp?

Delek Logistics Partners Lp (DKL) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.