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Midstream MLP operating pipelines, storage and water-gathering assets, mainly supporting parent Delek US refineries.
Midstream MLP operating pipelines, storage and water-gathering assets, mainly supporting parent Delek US refineries.
Charges fees for moving and storing barrels under long-term contracts, many with minimum volume commitments, so income rests on contracted throughput rather than oil prices; the parent's refineries are the biggest customer. Delek US also owns the general partner and most units, and has sold assets to the partnership over time.
Moat: narrow (scale, installed base, switching costs). Long-term contracts with parent Delek US anchor stable fee-based cash flow.
Headquarters: Brentwood, Tennessee, United States · Founded: 2012
Size Delek Logistics Partners LP (DKL) is a United States Energy company (Oil & Gas Pipelines) with a market value of $2.99B, the 1557th largest of 3,117 United States companies the cockpit tracks. Shares closed at $51.77 on 6 Nov 2026.
Performance Over six months the shares gained 1.4%, against -8.4% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 12 in its peer set.
Growth Revenue grew 30.3% over the last twelve months (peer median +9.5%); the operating margin is 15.4% (peer median 23.9%).
Valuation It trades at 11.8× forward earnings against a peer median of 14.9× (4th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.1 points above its cost of capital (6.2% WACC).
Backlog Backlog (remaining performance obligations) was $420M at 30 Sep 2026, down 28% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Short interest Short interest is 0.8% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.20B | $1.01B | $941M | $1.02B | $1.04B |
| Revenue growth | — | +8% | -8% | -2% | — |
| Gross profit | $208M | $212M | $239M | $280M | $247M |
| EBITDA | $330M | $311M | $298M | $353M | $307M |
| Net income | $154M | $176M | $143M | $126M | $159M |
| Free cash flow | $136M | -$30.6M | $81.6M | $138M | $52.8M |
| Capital expenditure | $221M | $280M | $132M | $100M | $147M |
| Total debt | $2.41B | $2.38B | $1.89B | $1.72B | $1.68B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Delek Logistics Partners LP DKL | $2.99B | +1% | +30% | 15% | 11.8× | 13.0% |
| Genesis Energy, L.P GEL | $1.57B | -21% | -17% | 19% | n/a | 2.2% |
| Sunoco LP SUN | $12.6B | -8% | +136% | 5% | 6.5× | -3.8% |
| HF Sinclair DINO | $16.7B | +34% | +29% | 14% | 5.0× | -20.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DKL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.5% | -3.6% | 4th lowest of 12 |
| 6-month return | +1.4% | -8.4% | 4th highest of 12 |
| Distance from 52-week high | -15.8% | -20.4% | 3rd highest of 12 |
| Revenue growth (TTM) | +30.3% | +9.5% | 2nd highest of 12 |
| Operating margin | 15.4% | 23.9% | 5th lowest of 12 |
| Forward P/E | 11.8× | 14.9× | 4th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 13.0% | 2.6% | 3rd most demanding of 10 |
| Growth delivered (Del g) | +12.2% | +10.5% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | +0.8 pp | -2.8 pp | 5th most demanding of 10 |
| ROIC minus cost of capital | +0.1 pp | -1.5 pp | 5th highest of 12 |
| EV / EBITDA | 16.3× | 17.0× | 6th cheapest of 11 |
| Net debt / EBITDA | 7.2× | 3.4× | 2nd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Delek Logistics Partners LP DKL | United States | $2.99B | +1% | +30% | 15% | 11.8× | 13.0% | +12.2% |
| Rockpoint Gas Storage RGSI.TO | Canada | $2.26B | -16% | +15% | 75% | 8.7× | -3.8% | +21.7% |
| Golar LNG GLNG | United States | $4.40B | -23% | +95% | 46% | n/a | n/a | n/a |
| NGL Energy Partners LP NGL | United States | $1.87B | -8% | -22% | 12% | 11.9× | 1.2% | -9.6% |
| Plains GP Holdings LP PAGP | United States | $5.10B | +11% | +9% | 3% | 14.7× | 2.6% | +13.4% |
| Friedrich Vorwerk VH2.DE | Germany | $1.50B | -5% | +22% | 19% | 11.1× | -8.0% | +19.3% |
| South Bow SOBO.TO | Canada | $6.54B | -8% | -26% | 24% | 16.5× | 13.9% | -25.8% |
| Sinopec Kantons 0934.HK | Hong Kong | $1.31B | +3% | +10% | 27% | 9.2× | 7.7% | +1.8% |
| Kinetik KNTK | United States | $7.92B | +3% | +10% | 9% | 25.1× | 33.0% | +63.6% |
| Antero Midstream AM | United States | $8.97B | -9% | +8% | 55% | 15.1× | 2.5% | +5.3% |
| Keyera KEY.TO | Canada | $10.6B | 0% | 0% | 11% | 17.4× | n/a | n/a |
| DT Midstream DTM | United States | $11.6B | -20% | +13% | 50% | 23.5× | 12.4% | +10.5% |
Delek Logistics Partners LP reported $420M of remaining performance obligations at 30 Sep 2026, down 28% from a year earlier and down 9% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.89.