Delek Logistics Partners, LP DKL
The Partnership is a Delaware limited partnership formed in 2012 by Delek US Holdings, Inc. ("Delek Holdings") and its subsidiary Delek Logistics GP, LLC, our general partner (our "general partner"). The Partnership provides gathering, processing, pipeline and other transportation services primarily for crude oil and natural gas customers, storage; wholesale marketing and terminalling services primarily for intermediate and refined product customers; and water disposal and recycling services, all through its owned assets and joint ventures located primarily in the Permian Basin (including the Delaware sub-basin) and other select areas in the Gulf Coast region. A significant portion of our existing assets are both integral to and dependent upon the success of Delek Holdings' refining operations, as many of our assets are contracted exclusively to Delek Holdings in support of its Tyler, Texas (the "Tyler Refinery"), El Dorado, Arkansas (the "El Dorado Refinery") and Big Spring, Texas (the "Big Spring Refinery"), collectively (the "Delek Refineries").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.01B | $940.6M | $1.02B | $1.04B | $700.9M | $563.4M | $584.0M | $657.6M | $538.1M | $448.1M |
| Cost of revenue | $798.2M | $696.9M | $735.4M | $787.0M | $484.8M | $356.7M | $432.7M | $509.1M | $432.1M | $355.0M |
| Gross profit | $215.2M | $243.7M | $285.0M | $249.4M | $216.1M | $206.7M | $151.3M | $148.5M | $106.0M | $93.1M |
| SG&A | $28.6M | $35.9M | $24.8M | $34.2M | $21.5M | $22.6M | $20.8M | $17.2M | $11.8M | $10.3M |
| Total operating expenses | $166.8M | $122.0M | $115.7M | $85.4M | $59.5M | $53.8M | $71.3M | $55.9M | $40.2M | $34.9M |
| Operating income | $181.8M | $202.8M | $238.9M | $209.7M | $190.5M | $179.8M | $125.8M | $125.8M | $88.2M | $77.7M |
| Interest expense | $179.3M | $151.0M | $143.2M | $82.3M | $50.2M | $42.9M | $47.3M | $41.3M | $23.9M | $13.6M |
| Pre-tax income | $176.9M | $143.2M | $127.4M | $159.4M | $165.0M | $159.5M | $97.7M | $90.7M | $69.2M | $62.9M |
| Income tax | $458.0K | $479.0K | $1.2M | $382.0K | $153.0K | $223.0K | $967.0K | $534.0K | $222.0K | $81.0K |
| Net income | $176.5M | $142.7M | $126.2M | $159.1M | $164.8M | $159.3M | $96.7M | $90.2M | $69.4M | $62.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.9M | $5.4M | $3.8M | $8.0M | $4.3M | $4.2M | $5.5M | $4.5M | $4.7M | $59.0K |
| Receivables | — | — | — | $53.3M | $15.4M | $15.7M | $13.2M | $21.6M | $23.0M | $19.2M |
| Inventory | $17.9M | $5.4M | $2.3M | $1.5M | $2.4M | $3.1M | $12.6M | $5.5M | $20.9M | $8.9M |
| 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 and equipment | $1.42B | $1.06B | $936.2M | $924.0M | $449.4M | $464.8M | $295.0M | $312.6M | $255.1M | $251.0M |
| Goodwill | $12.2M | $12.2M | $12.2M | $27.1M | $12.2M | $12.2M | $12.2M | $12.2M | $12.2M | $12.2M |
| Other intangibles | $370.5M | $281.5M | $343.0M | $364.8M | $153.9M | $160.1M | $146.6M | $154.0M | $15.9M | $14.4M |
| Total assets | $2.78B | $2.04B | $1.64B | $1.68B | $935.1M | $956.4M | $744.4M | $624.6M | $443.5M | $415.5M |
| Accounts payable | $292.9M | $41.4M | $26.3M | $57.4M | $8.2M | $6.7M | $12.5M | $14.2M | $19.1M | $10.9M |
| Short-term debt | — | $0 | $30.0M | $15.0M | $0 | — | — | — | — | — |
| 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 | $2.34B | $1.88B | $1.67B | $1.65B | $899.0M | — | — | — | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $237.1M | $206.3M | $225.3M | $192.2M | $275.2M | $193.0M | $130.4M | $153.0M | $91.2M | $100.7M |
| Depreciation and amortisation | $125.6M | $96.4M | $92.4M | $63.0M | $42.8M | $35.7M | $26.7M | $26.0M | $21.9M | $20.8M |
| Stock-based compensation | — | — | $2.7M | $2.7M | $2.0M | $1.3M | $1.8M | $674.0K | $610.0K | $599.0K |
| Capital expenditure | $267.8M | $129.0M | $96.1M | $141.1M | $23.1M | $13.3M | $9.1M | $12.9M | $18.2M | $11.3M |
| Investing cash flow | -$444.2M | -$384.6M | -$89.6M | -$770.4M | -$16.4M | -$123.1M | -$147.4M | -$228.0M | -$29.9M | -$72.7M |
| Financing cash flow | $212.6M | $179.9M | -$139.9M | $581.9M | -$258.8M | -$71.2M | $18.0M | $74.9M | -$56.7M | -$28.0M |
| Buybacks | $10.0M | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012666.
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