Delek Logistics Partners, LP (DKL) Key Metrics
DKL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.32B
- Enterprise value
- $5.57B
- P/E (TTM)
- 19.9 10-yr median 11.2
- Forward P/E
- 10.3
- PEG ratio
- 0.77
- Price / sales
- 2.8 10-yr median 1.9
- Price / book
- 445.1
- EV / EBITDA
- 10.8 10-yr median 9.8
- Dividend yield
- 7.86% $4.51 a year
- Beta
- 0.45
DKL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDKL valuation Price multiples at each fiscal year-end price.
DKL returns How much profit the business earns on the capital it uses.
DKL per-share figures Results divided by the shares outstanding at year-end.
DKL financial health Debt, liquidity and how easily interest is covered.
DKL efficiency & capital use Working capital cycle and where the cash goes.
DKL valuation history
DKL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DKL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DKL cash returned to shareholders
DKL price vs earnings per share
DKL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.39B | $2.01B | $1.88B | $1.97B | $1.86B | $1.08B | $780.4M | $713.6M | $772.8M | $695.5M |
| Enterprise value | $4.76B | $3.89B | $3.60B | $3.64B | $2.77B | $2.09B | $1.61B | $1.41B | $1.19B | $1.09B |
| P/E ratio | 13.5 | 14.1 | 14.9 | 12.4 | 11.3 | 6.8 | 8.1 | 7.9 | 11.1 | 11.1 |
| Price / sales | 2.4 | 2.1 | 1.8 | 1.9 | 2.6 | 1.9 | 1.3 | 1.1 | 1.4 | 1.6 |
| Price / book | 390.8 | 56.5 | — | — | — | — | — | — | — | — |
| Price / free cash flow | — | 26.9 | 15.1 | 43.3 | 7.4 | 6.0 | 6.4 | — | 11.1 | 7.8 |
| Price / operating cash flow | 10.1 | 9.7 | 8.4 | 10.2 | 6.7 | 5.6 | 6.0 | 4.8 | 8.8 | 6.9 |
| EV / sales | 4.7 | 4.1 | 3.5 | 3.5 | 4.0 | 3.7 | 2.8 | 2.2 | 2.2 | 2.4 |
| EV / EBITDA | 9.8 | 9.8 | 9.7 | 11.7 | 10.5 | 8.3 | 9.0 | 9.0 | 10.4 | 11.2 |
| EV / free cash flow | — | 52.2 | 28.8 | 80.1 | 11.0 | 11.6 | 13.3 | — | 17.1 | 12.2 |
| Earnings yield | 7.4% | 7.1% | 6.7% | 8.1% | 8.9% | 14.8% | 12.4% | 12.6% | 9.0% | 9.0% |
| Free cash flow yield | −1.3% | 3.7% | 6.6% | 2.3% | 13.5% | 16.7% | 15.5% | −1.3% | 9.0% | 12.9% |
| Dividend yield | 10.0% | 10.2% | 9.6% | 8.7% | 8.7% | 14.6% | 10.5% | 24.2% | 8.9% | 8.7% |
| Shareholder yield (dividends + buybacks) | 10.4% | 13.7% | 9.6% | 8.7% | 8.7% | 14.6% | 10.5% | 24.2% | 8.9% | 8.7% |
| Share price at fiscal year-end | $44.62 | $42.26 | $43.17 | $45.25 | $42.73 | $32.00 | $31.96 | $29.25 | $31.70 | $28.55 |
| Per share | ||||||||||
| Revenue per share | $18.92 | $19.81 | $23.40 | $23.82 | $16.13 | $16.77 | $23.92 | $26.95 | $22.07 | $18.39 |
| Earnings per share | $3.30 | $3.01 | $2.89 | $3.66 | $3.79 | $4.74 | $3.96 | $3.70 | $2.85 | $2.58 |
| Operating cash flow per share | $4.43 | $4.35 | $5.17 | $4.42 | $6.33 | $5.74 | $5.34 | $6.06 | $3.60 | $4.13 |
| Free cash flow per share | −$0.57 | $1.57 | $2.87 | $1.05 | $5.78 | $5.35 | $4.97 | −$0.38 | $2.85 | $3.67 |
| Cash per share | $0.20 | $0.11 | $0.09 | $0.18 | $0.10 | $0.13 | $0.23 | $0.19 | $0.19 | $0.00 |
| Book value per share | $0.11 | $0.75 | −$3.71 | −$2.54 | −$2.39 | −$3.22 | −$5.98 | −$5.53 | −$1.20 | −$0.55 |
| Tangible book value per share | −$4.47 | −$5.44 | −$11.86 | −$11.55 | −$6.21 | −$8.35 | −$11.85 | −$12.34 | −$2.35 | −$1.64 |
| Dividends per share | $4.45 | $4.31 | $4.13 | $3.93 | $3.72 | $4.67 | $3.36 | $7.09 | $2.81 | $2.49 |
| Capex per share | $5.00 | $2.78 | $2.30 | $3.37 | $0.55 | $0.40 | $0.37 | $6.44 | $0.75 | $0.46 |
| Debt per share | $44.44 | $39.74 | $39.41 | $38.65 | $21.17 | $30.25 | $34.27 | $28.89 | $17.38 | $16.16 |
| Shares outstanding | 53.6M | 47.5M | 43.6M | 43.5M | 43.5M | 33.6M | 24.4M | 24.4M | 24.4M | 24.4M |
| Change in shares outstanding | +12.8% | +8.9% | +0.2% | +0.1% | +29.4% | +37.6% | +0.1% | +0.1% | +0.1% | +0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 847.5% | — | — | — | — | — | — | — | — | — |
| Return on invested capital (ROIC) | 8.5% | 11.7% | 15.2% | 17.6% | 22.2% | 22.6% | 19.9% | 26.2% | 22.9% | 21.5% |
| Return on assets (ROA) | 7.3% | 7.7% | 7.6% | 12.2% | 17.4% | 18.7% | 14.1% | 16.9% | 16.2% | 15.9% |
| Return on tangible assets | 7.0% | 8.2% | 9.8% | 12.4% | 21.4% | 20.3% | 16.1% | 19.7% | 16.7% | 16.1% |
| Free cash flow margin | −3.0% | 7.9% | 12.2% | 4.4% | 35.8% | 31.9% | 20.8% | −1.4% | 12.9% | 20.0% |
| Income quality (OCF / net income) | 1.34 | 1.45 | 1.78 | 1.21 | 1.67 | 1.21 | 1.35 | 1.64 | 1.26 | 1.60 |
| Financial health | ||||||||||
| Total debt | $2.38B | $1.89B | $1.72B | $1.68B | $919.9M | $1.02B | $836.9M | $704.8M | $423.6M | $393.7M |
| Cash & short-term investments | $10.9M | $5.4M | $3.8M | $8.0M | $4.3M | $4.2M | $5.5M | $4.5M | $4.7M | $59,000 |
| Net debt | $2.37B | $1.88B | $1.72B | $1.67B | $915.6M | $1.01B | $831.3M | $700.3M | $419.0M | $393.6M |
| Debt / equity | 389.20 | 53.11 | — | — | — | — | — | — | — | — |
| Debt / assets | 0.86 | 0.92 | 1.05 | 1.00 | 0.98 | 1.06 | 1.12 | 1.13 | 0.96 | 0.95 |
| Net debt / EBITDA | 4.89 | 4.77 | 4.63 | 5.37 | 3.45 | 4.02 | 4.65 | 4.44 | 3.64 | 4.05 |
| Current ratio | 1.12 | 1.64 | 0.84 | 0.61 | 0.24 | 1.04 | 0.96 | 0.89 | 1.59 | 1.55 |
| Quick ratio | 1.07 | 1.58 | 0.82 | 0.60 | 0.21 | 0.93 | 0.60 | 0.74 | 0.93 | 1.12 |
| Interest coverage | 1.0 | 1.3 | 1.7 | 2.5 | 3.8 | 4.2 | 2.7 | 3.0 | 3.7 | 5.7 |
| Working capital | $44.3M | $57.1M | −$14.3M | −$41.0M | −$73.8M | $1.0M | −$1.5M | −$3.9M | $18.7M | $11.3M |
| Invested capital | $2.37B | $1.92B | $1.55B | $1.56B | $811.6M | $903.9M | $685.2M | $565.5M | $389.7M | $380.4M |
| Tangible asset value | −$239.1M | −$258.1M | −$517.1M | −$502.5M | −$270.1M | −$280.6M | −$294.3M | −$301.1M | −$57.3M | −$39.9M |
| Net current asset value | −$2.37B | −$1.86B | −$1.73B | −$1.72B | −$1.02B | −$1.04B | −$862.0M | −$726.8M | −$422.3M | −$396.8M |
| Graham number | $2.91 | $7.11 | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$49.81 | −$40.33 | −$40.06 | −$40.02 | −$23.52 | −$31.04 | −$35.78 | −$30.17 | −$18.03 | −$16.74 |
| Capital allocation | ||||||||||
| Dividends paid | $238.1M | $204.7M | $180.0M | $171.1M | $161.7M | $156.8M | $82.0M | $172.9M | $68.5M | $60.6M |
| Share buybacks (net) | $10.0M | $70.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 134.9% | 143.5% | 142.6% | 107.6% | 98.1% | 98.4% | 84.8% | 191.8% | 98.6% | 96.5% |
| Dividends + buybacks / free cash flow | — | 369.5% | 144.1% | 376.2% | 64.4% | 87.2% | 67.6% | — | 98.5% | 67.8% |
| Capex / revenue | 26.4% | 14.0% | 9.8% | 14.2% | 3.4% | 2.4% | 1.6% | 23.9% | 3.4% | 2.5% |
| Capex / operating cash flow | 112.9% | 63.9% | 44.5% | 76.3% | 8.7% | 6.9% | 7.0% | 106.2% | 20.7% | 11.2% |
| Capex / depreciation | 2.09 | 1.31 | 1.01 | 2.09 | 0.48 | 0.31 | 0.27 | 4.91 | 0.83 | 0.54 |
| Stock-based compensation / revenue | — | — | — | — | — | 0.5% | — | 0.1% | 0.1% | 0.1% |
| SG&A / revenue | 2.8% | 3.8% | 2.7% | 3.3% | 3.1% | 4.0% | 3.6% | 2.6% | 2.2% | 2.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 40.6 | 35.0 | 22.0 | 12.1 | 9.6 | 11.3 | 10.9 | 12.7 | 15.7 | 23.3 |
| Days of inventory on hand | 5.3 | 2.0 | 0.9 | 0.9 | 2.1 | 8.1 | 7.6 | 9.4 | 13.0 | 10.4 |
| Days payables outstanding | 76.1 | 17.7 | 22.1 | 31.4 | 29.7 | 14.3 | 15.0 | 12.0 | 13.2 | 11.7 |
| Cash conversion cycle (days) | -30.2 | 19.3 | 0.8 | -18.4 | -18.0 | 5.0 | 3.5 | 10.2 | 15.5 | 22.0 |
| Receivables turnover | 8.99 | 10.43 | 16.61 | 30.17 | 37.89 | 32.37 | 33.57 | 28.76 | 23.31 | 15.70 |
| Payables turnover | 4.80 | 20.60 | 16.51 | 11.61 | 12.28 | 25.45 | 24.31 | 30.51 | 27.74 | 31.28 |
| Inventory turnover | 68.69 | 181.22 | 395.35 | 406.17 | 175.91 | 45.31 | 47.79 | 38.65 | 28.00 | 35.12 |
| Asset turnover | 0.42 | 0.51 | 0.61 | 0.79 | 0.74 | 0.66 | 0.85 | 1.23 | 1.25 | 1.13 |
| Average receivables | $112.7M | $90.2M | $61.4M | $34.3M | $18.5M | $17.4M | $17.4M | $22.9M | $23.1M | $28.5M |
| Average payables | $167.1M | $33.8M | $44.9M | $68.0M | $39.6M | $14.0M | $17.8M | $16.7M | $15.0M | $10.8M |
| Average inventory | $11.7M | $3.8M | $1.9M | $1.9M | $2.8M | $7.9M | $9.1M | $13.2M | $14.9M | $9.7M |
| Intangibles / total assets | 8.8% | 14.4% | 21.6% | 23.3% | 17.8% | 18.0% | 19.2% | 26.6% | 6.3% | 6.4% |
Computed from DKL's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DKL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Delek Logistics Partners traded at 13.5 times earnings, against a 10-year median of 11.2. Based on the latest twelve months, the trailing P/E is 19.9 and the forward P/E is 10.3. Delek Logistics Partners earned a return on equity of 847.5% and a return on invested capital of 8.5% in fiscal 2025. It ended the year with $2.4 billion of debt and $10.9 million in cash and short-term investments, net debt of $2.4 billion. It returned $248.1 million to shareholders: $238.1 million in dividends and $10.0 million in share buybacks. The share count rose 119.8% from 24.4M to 53.6M over 9 years.
See the DKL income statement, the DKL chart for price history, or the DKL stock overview for the latest quote and news.
DKL key metrics FAQ
What is Delek Logistics Partners's P/E ratio?
Delek Logistics Partners's trailing P/E ratio is 19.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.3. At the end of fiscal 2025 it was 13.5, compared with a 10-year median of 11.2.
What is Delek Logistics Partners's EV/EBITDA?
Delek Logistics Partners's enterprise value was 9.8 times EBITDA at the end of fiscal 2025 (enterprise value $4.8 billion, EBITDA $484.4 million); the current EV/EBITDA is 10.8.
What is Delek Logistics Partners's return on equity?
Delek Logistics Partners's return on equity (ROE) was 847.5% in fiscal 2025: net income of $176.5 million on average shareholders' equity of $20.8 million. ROE is high partly because years of buybacks have reduced equity on the balance sheet.
What is Delek Logistics Partners's ROIC?
Delek Logistics Partners's return on invested capital was 8.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Delek Logistics Partners have?
Delek Logistics Partners had total debt of $2.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 389.20 and $2.4 billion of net debt (4.89 times EBITDA).
What is Delek Logistics Partners's dividend yield?
Delek Logistics Partners's forward dividend yield is 7.86%. Delek Logistics Partners paid $238.1 million in dividends in fiscal 2025 ($4.45 per share), a payout ratio of 134.9%.
Does Delek Logistics Partners buy back its shares?
Yes. Delek Logistics Partners spent $10.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +12.8% over the year, to 53.6M..
What is Delek Logistics Partners's free cash flow yield?
Delek Logistics Partners generated -$30.6 million of free cash flow in fiscal 2025, a free cash flow yield of −1.3% on its market value at year-end ($2.4 billion).
What is Delek Logistics Partners's current ratio?
Delek Logistics Partners's current ratio was 1.12 at the end of fiscal 2025: current assets were 1.12 times current liabilities.