| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 79 | 22.2x | 17.3x | Top tier | |
Growth | 61 | 11.4% | 7.1% | Around median | |
Quality | 81 | 16.1% | 4.5% | Top tier | |
Safety | 47 | 2.6x | 2.6x | Around median | |
Capital Return | 53 | 1.29% | 0.06% | Around median | |
Momentum | 97 | 95.5% | -1.6% | Top tier | |
Sentiment | 36 | 6 | 3 | Bottom tier |
The floor: what the company is worth if growth stopped today
26% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Delek US Holdings operates through an integrated system combining oil refining, supply and marketing, and logistics services in U.S. oil basins. The company operates four refineries: Tyler, El Dorado, Big Spring, and Krotz Springs, benefiting from access to crude oil and the production of distillates and jet fuel, while its supply and marketing activities include wholesale trading and asphalt. The Delek Logistics, or DKL, business adds income streams from the transportation and processing of crude oil, gas, and water in the Permian Basin, with third-party contributions expected to exceed 80% of DKL's pro forma earnings before interest, taxes, depreciation, and amortization during fiscal year 2026.
In quarter 2 of fiscal year 2026, revenue increased to $4.1 billion, and gross profit reached $365.1 million, equivalent to a gross margin of approximately 8.9%. The company recorded net income of $169.5 million, or $2.71 per share, compared with a net loss of $201.3 million and a gross loss of $130.2 million in quarter 1 of fiscal year 2026. On an adjusted basis, net income reached $344 million and earnings per share were $5.48, while adjusted earnings before interest, taxes, depreciation, and amortization reached $639 million.
Refining led the improvement in performance due to higher margins, increased distillate production, and higher utilization rates following the completion of Big Spring maintenance. The logistics segment achieved its best quarterly result in its history, with adjusted earnings before interest, taxes, depreciation, and amortization of $144 million, supported by crude oil, gas, and water activities in the Permian. Supply and marketing results also improved by $60 million from the previous quarter, including $25 million from wholesale marketing, compared with a $3 million decline in the asphalt contribution.
The average analyst target is $62.4, approximately 15% below the 52-week range high of $73.39, while the target range extends from $45 to $83 and is accompanied by a Neutral consensus. No positive price-to-earnings ratio is available because of the trailing twelve-month loss of $100.1 million, so the valuation is tied to the sustainability of the refining recovery, DKL's growth, and EOP gains after separating the effect of RVO adjustments. The breadth of the target range compared with the 52-week range of $25.85 to $73.39 confirms that analysts clearly disagree over the extent of the revaluation justified by the quarter 2 fiscal year 2026 results.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Delek US recorded revenue of $4.1 billion and net income of $169.5 million, or $2.71 per share, in quarter 2 of fiscal year 2026. The improvement came primarily from higher refining margins, strong distillate production, and increased throughput following the completion of Big Spring maintenance. Supply and marketing results also improved by $60 million from the previous quarter, and EOP contributed approximately $60 million to the income statement.
DKL generated adjusted earnings before interest, taxes, depreciation, and amortization of $144 million in quarter 2 of fiscal year 2026, its best quarterly result in history. It reaffirmed its fiscal year 2026 guidance of between $520 million and $560 million, with third-party contributions expected to exceed 80% on a pro forma basis. Management believes this economic separation, together with the growth of crude oil, gas, and water services in the Permian, supports the strategy of presenting the value of each part of the group more clearly.
Automated analysis for informational purposes only — not investment advice.
Delek is targeting total throughput of between 296 thousand and 316 thousand barrels per day in quarter 3 of fiscal year 2026. The range is distributed between 72 thousand and 77 thousand barrels per day at Tyler, 78 thousand and 83 thousand at El Dorado, 68 thousand and 73 thousand at Big Spring, and 78 thousand and 83 thousand at Krotz Springs. The company also expects operating expenses of between $220 million and $230 million, general and administrative expenses of between $50 million and $55 million, and depreciation and amortization of between $110 million and $120 million.
Operations generated $263 million in quarter 2 of fiscal year 2026 despite a $138 million outflow due to changes in working capital. During the same period, the company paid approximately $16 million in dividends and $20 million for share repurchases, while also reducing the term loan from $920 million to $850 million. Management estimated mid-cycle free cash flow at between $650 million and $700 million, including DKL distributions, but this is a forward-looking estimate that depends on margins, execution, and regulatory conditions.
The company recorded strong earnings in quarter 2 of fiscal year 2026, but trailing twelve-month net income remained negative at $100.1 million, with earnings per share of approximately negative $1.66. Fiscal year 2025 also recorded a net loss of $22.8 million and negative earnings per share of $0.38. Therefore, cumulative earnings do not produce a meaningful positive price-to-earnings ratio, and the stock's valuation depends more heavily on the sustainability of cash flow, the refining recovery, and DKL's growth.