Delek US DK
NYSE · Petroleum Refining · $4.0B$62.49−4.54%Nov 5 close · Databento
DK Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing
Nov 5, 2026CLOSE $62.491D −4.54%3M +2.76%SMA20 $73.94SMA50 $73.84RSI(14) 33.9
62.49
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 33.9
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
The numbers
fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$4.0B
EV / FCF1051.6x
Revenue$10.7B −9.5%
True FCF (ex-SBC)$-80.4M +101.3%
Rule of 40-9.4%
ROIC11.2%
True FCF Yield-2.0%
EPS, diluted$-0.38 +95.7%
Modern Valuation (EOD)
Market Cap$4.0B
Enterprise Value$6.6B
EV / True FCF—
EV / FCF1051.60
EV / Gross Profit—
EV / EBIT22.01
EV / Sales0.62
P / E (GAAP)—
P / FCF636.23
P / Oper. CF7.48
P / Book7.32
Owner & Cash Yields
True FCF Yield-2.0%
FCF Yield0.2%
Owner Earn. Yield-6.0%
Earnings Yield-0.6%
Shareholder Yield−0.6%
Buyback Yield0.0%
Dividend Yield1.63%
Dividend / sh$1.02
Payout Ratio-272%
FCF / sh$0.10
EPS (diluted)$-0.38
Compounder & Returns
Rule of 40-9.4%
ROIC11.2%
Cash ROIC (CROIC)0.2%
GP / Assets—
ROE-4.2%
ROA-0.3%
Gross Margin—
Oper. Margin2.8%
Net Margin-0.2%
FCF Margin0.1%
True FCF Margin-0.7%
Quality & Dilution
Cash Conversion—
Accrual Ratio−8.2%
SBC % of FCF1376.2%
SBC % of Rev0.8%
Reinvest. Rate99%
Sales Growth Y/Y−9.5%
Sales 3Y CAGR−18.5%
EPS Growth Y/Y+95.7%
FCF Growth Y/Y+101.3%
FCF 3Y CAGR−64.9%
Share Change Y/Y−5.0%
Balance Sheet & Scale
Revenue (FY)$10.7B
Gross Profit (FY)—
Oper. Income (FY)$301.0M
GAAP Net Income$-22.8M
True FCF (ex-SBC)$-80.4M
Cash & Equiv$625.8M
Total Debt$3.2B
Net Cash (Debt)$-2.6B
Net Cash % MCap−65.3%
Debt / FCF (yrs)514.7y
Current Ratio0.8261.23M sh
Price & Technicals (EOD)
Perf Week−12.11%
Perf Month−17.19%
Perf Quarter+6.89%
Perf Half Y+39.80%
Perf YTD+64.45%
SMA 20 Dist−15.49%$73.94
SMA 50 Dist−15.37%$73.84
SMA 100 Dist−6.21%$66.63
Window High−23.37%$81.55
Window Low+64.45%$38.00
RSI (14) · Vol33.966%v
Income Distribution & Cash Flow ConversionHow every dollar of DK revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$10.1B ($94.3 / $100)
SG&A & Other OpEx$311.1M ($2.9 / $100)
Tax & Non-Operating$323.8M ($3.0 / $100)
Net Profit Kept$-22.8M ($0.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$-22.8M (-0.2% margin)
Operating Cash Flow (OCF)$535.8M(5.0% of rev)
Less: Capital Expenditures−$529.5M(4.9% of rev)
Standard Free Cash Flow (FCF)$6.3M(0.1% margin)
Less: Stock-Based Comp (SBC)−$86.7M(1376.2% of FCF)
True FCF (Owner Cash ex-SBC)$-80.4M(-0.7% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $10.6B | $19.8B | $16.5B | $11.9B | $10.7B | −9.5% | +0.2% | |
| Cost of Revenue (COGS) | $10.4B | $19.1B | $15.9B | $11.9B | $10.1B | −15.0% | −0.7% | |
| Selling, General & Admin (SG&A) | $200.4M | $313.7M | $272.0M | $252.8M | $269.5M | +6.6% | +7.7% | |
| Operating Income (EBIT) | $-34.7M | $457.5M | $244.7M | $-491.5M | $301.0M | +161.2% | — | |
| Interest Expense | $18.1M | $23.4M | $61.4M | — | $61.4M | — | +35.7% | |
| Income Tax Expense | $-42.0M | $56.4M | $-3.0M | $-107.9M | $-6.8M | +93.7% | — | |
| GAAP Net Income | $-128.3M | $257.1M | $19.8M | $-560.4M | $-22.8M | +95.9% | — | |
| Diluted EPS | $-1.73 | $3.59 | $0.30 | $-8.77 | $-0.38 | +95.7% | — | |
| Diluted Shares | 74.0M | 71.5M | 65.4M | 63.9M | 60.7M | −5.0% | −4.8% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $856.5M | $840.9M | $821.8M | $735.6M | $625.8M | −14.9% | −7.5% | |
| Inventory | $1.3B | $1.5B | $941.2M | $893.2M | $726.0M | −18.7% | −12.9% | |
| Total Current Assets | $3.0B | $3.7B | $2.7B | $2.3B | $2.1B | −11.3% | −9.0% | |
| Total Assets | $6.8B | $8.2B | $7.2B | $6.7B | $6.8B | +2.7% | +0.1% | |
| Total Current Liabilities | $3.1B | $3.1B | $2.7B | $2.5B | $2.5B | +0.5% | −5.2% | |
| Total Debt (Short + Long Term) | $2.3B | $3.1B | $2.6B | $2.8B | $3.2B | +16.9% | +8.8% | |
| Stockholders' Equity | $1.0B | $1.1B | $959.7M | $575.2M | $547.3M | −4.9% | −14.3% | |
| Net Cash / (Net Debt) | $-1.5B | $-2.3B | $-1.8B | $-2.0B | $-2.6B | −28.3% | — | |
| Invested Capital | $2.5B | $3.4B | $2.8B | $2.6B | $3.2B | +21.0% | +6.4% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $371.4M | $425.3M | $1.0B | $-66.8M | $535.8M | +902.1% | +9.6% | |
| Depreciation & Amortization (D&A) | $264.6M | $275.0M | $339.5M | $374.5M | $397.8M | +6.2% | +10.7% | |
| Stock-Based Compensation (SBC) | $24.6M | $29.1M | $27.5M | $33.8M | $86.7M | +156.5% | +37.0% | |
| Capital Expenditures (CapEx) | $222.2M | $280.2M | $392.5M | $427.7M | $529.5M | +23.8% | +24.2% | |
| Free Cash Flow (FCF) | $149.2M | $145.1M | $621.1M | $-494.5M | $6.3M | +101.3% | −54.7% | |
| True FCF (ex-SBC Owner Cash) | $124.6M | $116.0M | $593.6M | $-528.3M | $-80.4M | +84.8% | — | |
| Share Repurchases (Buybacks) | $0 | $64.0M | $0 | $0 | $0 | — | — | |
| Dividends Paid | $0 | $42.8M | $60.3M | $64.2M | $62.0M | −3.4% | — | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
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