Loading financials from SEC filings…
Oil & gas refining & marketing · Energy · Fiscal year ends Dec 31
Delek US reported revenue of $10.7B in the fiscal year ended Dec 2025, down 9.5% from the year before. Operating income was $301M, an operating margin of 2.8%, and net income was −$23M. Operating cash flow of $536M less capital expenditure of $530M left free cash flow of $6M. Net debt was $2.6B.
Ranks among the 10 oil & gas refining & marketing companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 10,648 | 19,801 | 16,467 | 11,852 | 10,723 |
| Cost of revenue | 10,398 | 19,053 | 15,919 | 11,895 | 10,111 |
| Gross profit | 251 | 748 | 549 | −43.1 | 612 |
| Selling, general & admin | 200 | 314 | 272 | 253 | 270 |
| Operating income | −34.7 | 458 | 245 | −492 | 301 |
| Net interest incomeBanks | −137 | −195 | −318 | – | – |
| Interest expense | 18.1 | 23.4 | 61.4 | – | – |
| Pre-tax income | −137 | 322 | 16.6 | −706 | 38.9 |
| Income tax | −42.0 | 56.4 | −3.0 | −108 | −6.8 |
| Net income | −128 | 257 | 19.8 | −560 | −22.8 |
| Diluted EPS | −1.73 | 3.59 | 0.30 | −8.77 | −0.38 |
| Diluted shares | 74.0 | 71.5 | 65.4 | 63.9 | 60.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 857 | 841 | 822 | 736 | 626 |
| Receivables | 777 | 1,234 | 784 | 618 | 649 |
| Inventory | 1,261 | 1,519 | 941 | 893 | 726 |
| Current assets | 3,020 | 3,717 | 2,666 | 2,332 | 2,068 |
| Net PP&E | 2,307 | 2,776 | 2,696 | 2,940 | 3,273 |
| Goodwill | 730 | 702 | 688 | 475 | 475 |
| Total assets | 6,813 | 8,193 | 7,172 | 6,666 | 6,848 |
| Payables | 1,695 | 1,746 | 1,814 | 1,814 | 1,634 |
| Deferred revenue | 44.6 | 44.6 | 15.7 | 6.9 | 71.0 |
| Current liabilities | 3,127 | 3,086 | 2,685 | 2,516 | 2,529 |
| Short-term debt | 92.2 | 74.5 | 44.5 | 9.5 | 9.5 |
| Long-term debt | 2,126 | 2,979 | 2,555 | 2,756 | 3,224 |
| Total liabilities | 5,799 | 7,123 | 6,212 | 6,091 | 6,300 |
| Shareholders' equity | 1,014 | 1,070 | 960 | 575 | 547 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 371 | 425 | 1,014 | −66.8 | 536 |
| Capital expenditure | 222 | 280 | 393 | 428 | 530 |
| Free cash flow | 149 | 145 | 621 | −495 | 6.3 |
| Depreciation & amortisation | 265 | 275 | 340 | 375 | 398 |
| Stock-based compensation | 24.6 | 29.1 | 27.5 | 33.8 | 86.7 |
| Acquisitions | 0.0 | 626 | 0.0 | 183 | 181 |
| Share buybacks | 0.0 | 64.0 | 0.0 | 0.0 | – |
| Dividends paid | 0.0 | 42.8 | 60.3 | 64.2 | 62.0 |
| Dividend per share | 0.00 | 0.61 | 0.93 | 1.00 | 1.02 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 86.0% | −16.8% | −28.0% | −9.5% |
| Operating income growth (YoY) | – | – | −46.5% | −300.9% | – |
| EPS growth (YoY) | – | – | −91.6% | −3023.3% | – |
| Gross margin | 2.4% | 3.8% | 3.3% | −0.4% | 5.7% |
| Operating margin | −0.3% | 2.3% | 1.5% | −4.1% | 2.8% |
| Net margin | −1.2% | 1.3% | 0.1% | −4.7% | −0.2% |
| Return on equityBlank when equity is negative | −12.7% | 24.0% | 2.1% | −97.4% | −4.2% |
| ROCEEBIT ÷ (assets − current liabilities) | −0.9% | 9.0% | 5.5% | −11.8% | 7.0% |
| Free cash flow margin | 1.4% | 0.7% | 3.8% | −4.2% | 0.1% |
| Cash conversion (CFO ÷ net income) | −2.89x | 1.65x | 51.2x | 0.12x | −23.5x |
| Receivable days | 27 | 23 | 17 | 19 | 22 |
| Inventory days | 44 | 29 | 22 | 27 | 26 |
| Payable days | 60 | 33 | 42 | 56 | 59 |
| Interest cover | −1.92x | 19.6x | 3.99x | – | – |
| Debt ÷ equity | 2.19x | 2.86x | 2.71x | 4.81x | 5.91x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,362 | 2,212 | 1,778 | 2,030 | 2,607 |
| Current ratio | 0.97x | 1.20x | 0.99x | 0.93x | 0.82x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.