Delek Logistics vs Delek US

This page compares Delek Logistics Partners LP and Delek US Holdings, Inc., examining their business models, financial performance, and market context in a neutral, accessible way. It highlights how each company operates and positions itself within the energy sector. Educational content, not financial advice.

This page compares Delek Logistics Partners LP and Delek US Holdings, Inc., examining their business models, financial performance, and market context in a neutral, accessible way. It highlights how e...

About The Companies

Delek Logistics (DKL)

Delek Logistics Partners LP (DKL) is a US-listed master limited partnership operating in the midstream oil and gas sector. It owns and operates pipelines, terminals and storage assets that move and store crude oil and refined products, serving refiners and marketers. Revenues are driven by throughput volumes, terminal utilisation and contractual fee structures rather than commodity prices alone, though demand and refining activity influence performance. With a market capitalisation around $2.36bn, DKL has historically attracted investors seeking distribution income, but payouts can fluctuate with business conditions and capital needs. Key risks include exposure to commodity cycles, regulatory and environmental requirements, counterparty concentration and leverage. Investors should note potential tax reporting differences (K‑1 forms) and that this is general educational information, not personalised investment advice; values can rise and fall and income is not guaranteed.

Delek US (DK)

Delek US Holdings, Inc. (DK) is a US-based downstream energy company that operates oil refineries, asphalt plants and logistics and marketing businesses. With a market capitalisation near $2.03bn, the company’s earnings are closely tied to crude oil prices, refining margins (crack spreads) and refinery utilisation. Delek generates cash from refined product sales and midstream fees and has pursued operational improvements and selective capital projects to enhance margins. Investors should be aware that refining is cyclical: profits can swing materially with changes in fuel demand, inventory valuations and regulatory developments. Delek has historically carried leverage and its capital returns (dividends or buybacks) depend on cash flow and board priorities. This summary is for educational purposes and not personalised financial advice — values can rise or fall and past performance is not a reliable guide to future results. Consider your risk tolerance and carry out further research before acting.

Comparison Snapshot

Key Financial Metrics

DKL

Metric

DK

$2.39B

Market Cap

$2.05B

-1.68%

Potential Profit

25.66%

Buy

Analyst Rating

Hold

Which Baskets Do They Appear In?

Refining a New Opportunity: Venezuelan Crude Returns

Following a renewed U.S. license, Chevron has resumed oil shipments from Venezuela, creating a new supply of heavy crude for the market. This development presents a potential investment opportunity in U.S. refiners and logistics firms positioned to benefit from this strategic shift.

Published: August 18, 2025

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Venezuelan Oil's Return to U.S. Refiners

Chevron has resumed shipping crude oil from Venezuela to the U.S., marking a significant policy shift and restoring a key supply chain. This creates a potential investment opportunity in U.S. refiners and energy logistics companies that are set to benefit from the influx of desirable heavy crude.

Published: August 17, 2025

Explore Basket

Which Baskets Do They Appear In?

Refining a New Opportunity: Venezuelan Crude Returns

Following a renewed U.S. license, Chevron has resumed oil shipments from Venezuela, creating a new supply of heavy crude for the market. This development presents a potential investment opportunity in U.S. refiners and logistics firms positioned to benefit from this strategic shift.

Published: August 18, 2025

Explore Basket

Venezuelan Oil's Return to U.S. Refiners

Chevron has resumed shipping crude oil from Venezuela to the U.S., marking a significant policy shift and restoring a key supply chain. This creates a potential investment opportunity in U.S. refiners and energy logistics companies that are set to benefit from the influx of desirable heavy crude.

Published: August 17, 2025

Explore Basket

Investment Analysis

Delek Logistics

DKL

Pros

Delek Logistics owns and operates diverse midstream assets, including crude oil and refined product pipelines, gas processing, and storage facilities, providing stable infrastructure cash flows.
The company benefits from strong cash flow growth initiatives, exemplified by the Enterprise Optimization Plan targeting $130-170 million in annual run-rate improvements.
It maintains a high dividend yield near 9.8%, reflecting robust distribution capability supported by consistent logistics segment Adjusted EBITDA around $120 million.

Considerations

Delek Logistics carries substantial total debt around $2.2 billion with a leverage ratio above 4x, indicating elevated financial risk and limited liquidity cushion.
Cash on hand is quite low relative to debt, approximately $1.4 million, creating reliance on revolving credit facilities and capital markets financing.
The company operates in a cyclically sensitive energy sector, exposing it to commodity price swings and regulatory shifts that can impact volumes and margins.

Delek US

DK

Pros

Delek US Holdings has demonstrated operational improvement, with refining segment Adjusted EBITDA increasing significantly year-over-year to $113.6 million.
The company’s Enterprise Optimization Plan has exceeded targets, delivering meaningful cash flow gains and efficiency enhancements in its operations.
It has actively managed capital allocation by repurchasing shares totaling around $20.5 million recently, indicating management confidence in valuation.

Considerations

Despite initiatives, Delek US reported a net loss of $106.4 million in Q2 2025, reflecting ongoing profitability challenges in a volatile refining environment.
The company’s adjusted EBITDA shows mixed performance, with some segments facing headwinds and overall financial results pressured by commodity and operational factors.
Delek US’s exposure to refining and marketing makes it vulnerable to volatile oil price fluctuations, regulatory changes, and demand uncertainties in the energy sector.

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About The Companies

Comparison Snapshot

Which Baskets Do They Appear In?

Refining a New Opportunity: Venezuelan Crude Returns

Venezuelan Oil's Return to U.S. Refiners

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Venezuelan Oil's Return to U.S. Refiners

Investment Analysis

Delek Logistics

Pros

Considerations

Delek US

Pros

Considerations

Why invest with Nemo?

Zero Commission

Trusted & Regulated

6% Interest on Cash

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Frequently asked questions

About The Companies

Comparison Snapshot

Delek Logistics vs Delek US

About The Companies

Comparison Snapshot

Which Baskets Do They Appear In?

Refining a New Opportunity: Venezuelan Crude Returns

Venezuelan Oil's Return to U.S. Refiners

Which Baskets Do They Appear In?

Refining a New Opportunity: Venezuelan Crude Returns

Venezuelan Oil's Return to U.S. Refiners

Investment Analysis

Delek Logistics

Pros

Considerations

Delek US

Pros

Considerations

Why invest with Nemo?

Zero Commission

Trusted & Regulated

6% Interest on Cash

Discover More Comparisons

Delek Logistics vs TGS

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Frequently asked questions

What is the difference between a midstream operator and a refining company in this comparison?

How should I interpret the ‘enterprise optimisation plan’ referenced for both stocks?

What does Adjusted EBITDA tell me, and how reliable is it for comparing these two companies?

Which stock shows higher dividend yield and what does that imply about income potential?

How should I weigh debt levels in these two companies when evaluating risk?

What does it mean if a company reports a quarterly loss while the other shows positive Adjusted EBITDA growth?

How might cyclical energy market conditions affect these two stocks differently?

What role do regulatory changes play for both stocks in this comparison?

If I am new to reading these metrics, what should I compare first?

Is the information here an offer to buy or sell, and how should I use it in decision making?

What does ‘complexity’ mean in comparing these two stocks, and what should I look for?

About The Companies

Comparison Snapshot