Delek Logistics Partners, LP (DKL) Balance Sheet
DKL balance sheet, 2025
December 31, 2025 · U.S. dollars$2.78B assets = $2.77B liabilities + $6.1M equity
Both columns are drawn to the same scale: what DKL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DKL financial health
Descriptive bands, not a rating. Fiscal 2025.
DKL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $415.5M2016 | $2.78B2025 | +23.5%/yr | |
| Total liabilities | $428.8M2016 | $2.77B2025 | +23.0%/yr | |
| Shareholders’ equity | −$13.3M2016 | $6.1M2025 | — | |
| Cash & short-term investments | $59,0002016 | $10.9M2025 | +78.6%/yr | |
| Total debt | $393.7M2016 | $2.38B2025 | +22.1%/yr | |
| Net cash (debt) | −$393.6M2016 | −$2.37B2025 | −$2.0B | |
| Working capital | $11.3M2016 | $44.3M2025 | +$33.0M | |
| Book value per share | −$0.552016 | $0.112025 | — | |
| Current ratio | 1.552016 | 1.122025 | −0.42 | |
| Debt / equity | 53.112024 | 389.202025 | +336.10 | |
| Shares outstanding | 24.4M2016 | 53.6M2025 | +9.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DKL assets
DKL liabilities and equity
DKL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DKL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $10.9M | $5.4M | $3.8M | $8.0M | $4.3M | $4.2M | $5.5M | $4.5M | $4.7M | $59,000 |
| Cash & equivalents | $10.9M | $5.4M | $3.8M | $8.0M | $4.3M | $4.2M | $5.5M | $4.5M | $4.7M | $59,000 |
| Short-term investments | — | — | — | — | — | $253.7M | — | — | $0 | $0 |
| Receivables | $114.5M | $110.8M | $69.6M | $53.3M | $15.4M | $21.6M | $13.2M | $21.6M | $24.1M | $22.0M |
| Inventory | $17.9M | $5.4M | $2.3M | $1.5M | $2.4M | $3.1M | $12.6M | $5.5M | $20.9M | $8.9M |
| Other current assets | $257.4M | $24.3M | $676,000 | $2.5M | $951,000 | $331,000 | $2.2M | $969,000 | $783,000 | $1.1M |
| Total current assets | $400.8M | $145.9M | $76.3M | $65.2M | $23.0M | $29.3M | $33.6M | $32.6M | $50.5M | $32.0M |
| Property, plant & equipment (net) | $1.87B | $1.08B | $955.2M | $948.8M | $470.3M | $489.0M | $298.8M | $312.6M | $255.1M | $251.0M |
| Goodwill & intangible assets | $245.2M | $293.7M | $355.2M | $391.8M | $166.1M | $172.3M | $143.2M | $166.2M | $28.1M | $26.6M |
| Long-term investments | $340.1M | $510.3M | $241.3M | $257.0M | $250.0M | $253.7M | $247.0M | $104.8M | $106.5M | $101.1M |
| Other non-current assets | $0 | $10.8M | $14.2M | $16.4M | $25.6M | $12.1M | $21.9M | $8.5M | $3.4M | $4.8M |
| Total assets | $2.78B | $2.04B | $1.64B | $1.68B | $935.1M | $956.4M | $744.4M | $624.6M | $443.5M | $415.5M |
| Liabilities | ||||||||||
| Accounts payable | $292.9M | $41.4M | $26.3M | $63.5M | $72.6M | $6.7M | $21.4M | $14.2M | $19.1M | $10.9M |
| Short-term debt | $11.3M | $5.3M | $36.7M | $23.0M | $6.8M | $8.7M | $1.4M | $4.4M | $1.0M | $1.1M |
| Deferred revenue | — | — | $10.3M | — | — | — | — | $17.0M | $10.7M | $7.8M |
| Total current liabilities | $356.5M | $88.8M | $90.6M | $106.2M | $96.8M | $28.3M | $35.1M | $36.5M | $31.8M | $20.7M |
| Long-term debt | $2.36B | $1.88B | $1.67B | $1.65B | $899.0M | $992.3M | $833.1M | $700.4M | $422.6M | $392.6M |
| Lease obligations | $35.2M | $11.3M | $15.0M | $20.1M | $20.9M | $24.1M | $3.7M | — | — | — |
| Other long-term liabilities | $52.0M | $41.9M | $39.7M | $37.2M | $43.3M | $44.1M | $27.4M | $22.5M | $18.3M | $15.5M |
| Total liabilities | $2.77B | $2.01B | $1.80B | $1.79B | $1.04B | $1.06B | $895.6M | $759.4M | $472.8M | $428.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $6.1M | $35.5M | −$161.9M | −$110.7M | −$104.0M | −$108.3M | −$146.1M | −$128.3M | −$22.8M | −$7.1M |
| Retained earnings (deficit) | — | — | — | $485.6M | $326.5M | — | — | — | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$166.3M | −$140.2M | −$112.1M | −$91.4M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $6.1M | $35.5M | −$161.9M | −$110.7M | −$104.0M | −$108.3M | −$146.1M | −$134.8M | −$29.2M | −$13.3M |
| Key figures | ||||||||||
| Total debt | $2.38B | $1.89B | $1.72B | $1.68B | $919.9M | $1.02B | $836.9M | $704.8M | $423.6M | $393.7M |
| Net cash (debt) | −$2.37B | −$1.88B | −$1.72B | −$1.67B | −$915.6M | −$1.01B | −$831.3M | −$700.3M | −$419.0M | −$393.6M |
| Working capital | $44.3M | $57.1M | −$14.3M | −$41.0M | −$73.8M | $1.0M | −$1.5M | −$3.9M | $18.7M | $11.3M |
| Tangible book value | −$239.1M | −$258.1M | −$517.1M | −$502.5M | −$270.1M | −$280.6M | −$289.3M | −$301.1M | −$57.3M | −$39.9M |
| Book value per share | $0.11 | $0.75 | −$3.71 | −$2.54 | −$2.39 | −$3.22 | −$5.98 | −$5.53 | −$1.20 | −$0.55 |
| Shares outstanding | 53.6M | 47.5M | 43.6M | 43.5M | 43.5M | 33.6M | 24.4M | 24.4M | 24.4M | 24.4M |
| Current ratio | 1.12 | 1.64 | 0.84 | 0.61 | 0.24 | 1.04 | 0.96 | 0.89 | 1.59 | 1.55 |
| Quick ratio | 0.35 | 1.31 | 0.81 | 0.58 | 0.20 | 0.91 | 0.53 | 0.72 | 0.91 | 1.07 |
| Debt / equity | 389.20 | 53.11 | — | — | — | — | — | — | — | — |
| Equity / assets | 0.2% | 1.7% | −9.9% | −6.6% | −11.1% | −11.3% | −19.6% | −21.6% | −6.6% | −3.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $13.7M | $9.9M | $10.9M | $6.9M | $1.4M | $2.1M | $5.4M | $7.3M | $5.1M | $9.7M | $3.8M | $4.2M |
| Cash & equivalents | $13.7M | $9.9M | $10.9M | $6.9M | $1.4M | $2.1M | $5.4M | $7.3M | $5.1M | $9.7M | $3.8M | $4.2M |
| Receivables | $427.6M | $146.6M | $114.5M | $91.8M | $389.6M | $144.6M | $110.8M | $72.0M | $88.6M | $93.6M | $69.6M | $108.4M |
| Inventory | $23.7M | $21.0M | $17.9M | $18.6M | $17.1M | $8.7M | $5.4M | $4.6M | $1.8M | $1.7M | $2.3M | $4.1M |
| Other current assets | $5.1M | $358.9M | $257.4M | $265.4M | $1.7M | $1.5M | $24.3M | $2.0M | $1.1M | $615,000 | $676,000 | $962,001 |
| Total current assets | $470.1M | $536.3M | $400.8M | $382.8M | $409.8M | $156.9M | $145.9M | $85.9M | $96.6M | $105.5M | $76.3M | $117.6M |
| Property, plant & equipment (net) | $1.97B | $1.91B | $1.87B | $1.81B | $1.42B | $1.34B | $1.08B | $1.06B | $935.6M | $947.7M | $955.2M | $957.7M |
| Goodwill & intangible assets | $234.1M | $239.6M | $245.2M | $250.8M | $390.4M | $375.8M | $293.7M | $299.4M | $343.5M | $349.5M | $355.2M | $374.9M |
| Long-term investments | $335.7M | $333.8M | $340.1M | $325.8M | $320.2M | $317.5M | $510.3M | $322.7M | $235.9M | $238.2M | $241.3M | $241.9M |
| Other non-current assets | $0 | $0 | $0 | $0 | $214.3M | $206.1M | $10.8M | $197.4M | $11.7M | $13.5M | $14.2M | $17.3M |
| Total assets | $2.87B | $2.91B | $2.78B | $2.75B | $2.75B | $2.40B | $2.04B | $1.96B | $1.62B | $1.65B | $1.64B | $1.71B |
| Liabilities | ||||||||||||
| Accounts payable | $427.1M | $508.5M | $292.9M | $308.4M | $382.4M | $59.9M | $41.4M | $36.1M | $26.2M | $26.3M | $26.3M | $28.0M |
| Short-term debt | $12.0M | $11.5M | $11.3M | $3.5M | $4.3M | $5.5M | $5.3M | $5.4M | $6.0M | $6.4M | $36.7M | $23.1M |
| Deferred revenue | — | — | — | — | — | — | — | $7.6M | $8.4M | $7.6M | $10.3M | $12.0M |
| Total current liabilities | $489.3M | $561.0M | $356.5M | $370.2M | $442.6M | $97.5M | $88.8M | $69.6M | $70.0M | $57.2M | $90.6M | $85.4M |
| Long-term debt | $2.37B | $2.29B | $2.36B | $2.29B | $2.21B | $2.15B | $1.88B | $1.89B | $1.57B | $1.60B | $1.67B | $1.73B |
| Lease obligations | $35.1M | $34.6M | $35.2M | $7.6M | $9.0M | $11.7M | $11.3M | $11.2M | $12.7M | $13.8M | $15.0M | $17.3M |
| Other long-term liabilities | $77.7M | $73.3M | $52.0M | $71.2M | $66.9M | $54.8M | $41.9M | $42.0M | $38.2M | $38.4M | $39.7M | $36.8M |
| Total liabilities | $2.94B | $2.93B | $2.77B | $2.73B | $2.72B | $2.30B | $2.01B | $2.01B | $1.67B | $1.70B | $1.80B | $1.85B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | −$69.3M | −$20.2M | $6.1M | $17.5M | $32.0M | $97.4M | $35.5M | −$115.1M | −$51.3M | −$42.5M | −$161.9M | −$139.2M |
| Total shareholders' equity | −$69.3M | −$20.2M | $6.1M | $17.5M | $32.0M | $97.4M | $35.5M | −$45.1M | −$51.3M | −$42.5M | −$161.9M | −$139.2M |
| Key figures | ||||||||||||
| Total debt | $2.41B | $2.33B | $2.38B | $2.30B | $2.22B | $2.16B | $1.89B | $1.91B | $1.58B | $1.62B | $1.72B | $1.76B |
| Net cash (debt) | −$2.39B | −$2.32B | −$2.37B | −$2.29B | −$2.22B | −$2.16B | −$1.88B | −$1.90B | −$1.57B | −$1.61B | −$1.72B | −$1.75B |
| Working capital | −$19.1M | −$24.6M | $44.3M | $12.6M | −$32.8M | $59.5M | $57.1M | $16.4M | $26.5M | $48.3M | −$14.3M | $32.3M |
| Tangible book value | −$303.4M | −$259.7M | −$239.1M | −$233.3M | −$358.4M | −$278.4M | −$258.1M | −$344.5M | −$394.8M | −$392.0M | −$517.1M | −$514.1M |
| Book value per share | −$1.30 | −$0.38 | $0.11 | $0.33 | $0.60 | $1.82 | $0.70 | −$0.96 | −$1.09 | −$0.96 | −$3.71 | −$3.19 |
| Shares outstanding | 53.2M | 53.6M | 53.6M | 53.5M | 53.5M | 53.6M | 51.1M | 47.1M | 47.2M | 44.4M | 43.6M | 43.6M |
| Current ratio | 0.96 | 0.96 | 1.12 | 1.03 | 0.93 | 1.61 | 1.64 | 1.24 | 1.38 | 1.84 | 0.84 | 1.38 |
| Quick ratio | 0.90 | 0.28 | 0.35 | 0.27 | 0.88 | 1.51 | 1.31 | 1.14 | 1.34 | 1.81 | 0.81 | 1.32 |
| Debt / equity | — | — | 389.20 | 131.41 | 69.41 | 22.14 | 53.11 | — | — | — | — | — |
| Equity / assets | −2.4% | −0.7% | 0.2% | 0.6% | 1.2% | 4.1% | 1.7% | −2.3% | −3.2% | −2.6% | −9.9% | −8.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
DKL financial position
At the end of fiscal 2025 (December 31, 2025), Delek Logistics Partners had total assets of $2.8 billion (up 36.1% from a year earlier), total liabilities of $2.8 billion and shareholders' equity of $6.1 million. It held $10.9 million in cash and short-term investments against $2.4 billion of debt, net debt of $2.4 billion. Its current ratio was 1.12. In the latest quarter (ended June 30, 2026) total assets were $2.9 billion and equity -$69.3 million.
Related: DKL income statement, DKL cash flow statement, DKL key metrics. See the DKL stock overview for the latest quote and news.
DKL balance sheet FAQ
What are Delek Logistics Partners's total assets?
Delek Logistics Partners reported total assets of $2.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.0 billion a year earlier.
How much debt does Delek Logistics Partners have?
Delek Logistics Partners had $2.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 389.20.
How much cash does Delek Logistics Partners have?
Delek Logistics Partners held $10.9 million in cash and short-term investments at the end of fiscal 2025; with $2.4 billion of debt that is net debt of $2.4 billion.
What is Delek Logistics Partners's book value?
Delek Logistics Partners's shareholders' equity (book value) was $6.1 million at the end of fiscal 2025, or $0.11 per share.
What is Delek Logistics Partners's current ratio?
Delek Logistics Partners had current assets of $400.8 million and current liabilities of $356.5 million, a current ratio of 1.12 (it can cover its short-term obligations).
How much goodwill does Delek Logistics Partners have?
Delek Logistics Partners carried $245.2 million of goodwill and intangible assets, 8.8% of total assets, at the end of fiscal 2025.