Delek Us Holdings, Inc.
DK
Petroleum Refining
Mkt Cap
$1.739BPE
-22.55Debt
$2.573BCash
$753.4MEV
$3.558BFCF
$529.6MP/E Ratio
-22.55Debt
$2.573BCash
$753.4MEV
$3.558BFCF
$529.6MCharts data: {"Earnings":[{"time":"2015-12-30","value":19400000},{"time":"2016-12-30","value":-153700000},{"time":"2017-12-30","value":288800000},{"time":"2018-12-30","value":340100000},{"time":"2019-12-30","value":310600000},{"time":"2020-12-30","value":-608000000},{"time":"2021-12-30","value":-203500000},{"time":"2022-12-30","value":257100000},{"time":"2023-12-30","value":19800000}],"Sales":[{"time":"2015-12-30","value":4270500000},{"time":"2016-12-30","value":3905800000},{"time":"2017-12-30","value":7267100000},{"time":"2018-12-30","value":10233100000},{"time":"2019-12-30","value":9298200000},{"time":"2020-12-30","value":7301800000},{"time":"2021-12-30","value":10648200000},{"time":"2022-12-30","value":20245800000},{"time":"2023-12-30","value":16917400000}],"Net Margins":[{"time":"2015-12-30","value":0.004542793583889474},{"time":"2016-12-30","value":-0.03935173331967843},{"time":"2017-12-30","value":0.039740749404852005},{"time":"2018-12-30","value":0.033235285495109006},{"time":"2019-12-30","value":0.03340431481361984},{"time":"2020-12-30","value":-0.08326713960941137},{"time":"2021-12-30","value":-0.019111211284536352},{"time":"2022-12-30","value":0.01269893014847524},{"time":"2023-12-30","value":0.0011703926135221724}],"Assets":[{"time":"2016-12-30","value":2979800000},{"time":"2017-12-30","value":5935200000},{"time":"2018-12-30","value":5760600000},{"time":"2019-12-30","value":7016300000},{"time":"2020-12-30","value":6134100000},{"time":"2021-12-30","value":6728000000},{"time":"2022-12-30","value":8192800000},{"time":"2023-12-30","value":7171800000}],"Stockholders Equity":[{"time":"2015-12-30","value":1353900000},{"time":"2016-12-30","value":1182500000},{"time":"2017-12-30","value":1964200000},{"time":"2018-12-30","value":1808100000},{"time":"2019-12-30","value":1835300000},{"time":"2020-12-30","value":1125100000},{"time":"2021-12-30","value":947500000},{"time":"2022-12-30","value":1069500000},{"time":"2023-12-30","value":959700000}],"ROE":[{"time":"2015-12-30","value":0.014328975552108722},{"time":"2016-12-30","value":-0.12997885835095138},{"time":"2017-12-30","value":0.14703187048162103},{"time":"2018-12-30","value":0.1880980034290139},{"time":"2019-12-30","value":0.16923663706206069},{"time":"2020-12-30","value":-0.5403964092080704},{"time":"2021-12-30","value":-0.21477572559366753},{"time":"2022-12-30","value":0.24039270687237027},{"time":"2023-12-30","value":0.02063144732728978}],"ROA":[{"time":"2016-12-30","value":-0.01651117524666085},{"time":"2017-12-30","value":0.0504279552500337},{"time":"2018-12-30","value":0.10622157414158247},{"time":"2019-12-30","value":0.07016518677935664},{"time":"2020-12-30","value":-0.11868081707177908},{"time":"2021-12-30","value":-0.019381688466111772},{"time":"2022-12-30","value":0.05974758324382384},{"time":"2023-12-30","value":0.03902785911486656}]}
Delek US Holdings, Inc. engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal. It owns and operates refineries located in Tyler, Texas; El Dorado, Arkansas; Big Spring, Texas; and Krotz Springs, Louisiana, as well as biodiesel facilities in Crossett, Arkansas, Cleburne, Texas, and New Albany, Mississippi. The Logistics segment gathers, transports, and stores crude oil, intermediate, and refined products; and markets, distributes, transports, and stores refined products, as well as disposes and recycles water for third parties. It owns or leases crude oil transportation pipelines, refined product pipelines, crude oil gathering systems, and associated crude oil storage tanks; and owns and operates light product distribution terminals, as well as markets light products using third-party terminals. The Retail segment owns and leases convenience store sites located primarily in West Texas and New Mexico. Its convenience stores offer various grades of gasoline and diesel under the DK or Alon brand; and food products and service, tobacco products, non-alcoholic and alcoholic beverages, and general merchandise, as well as money orders to the public primarily under the 7-Eleven and DK or Alon brand names. It serves oil companies, independent refiners and marketers, jobbers, distributors, utility and transportation companies, government, and independent retail fuel operators. Delek US Holdings, Inc. was founded in 2001 and is headquartered in Brentwood, Tennessee.
DCF
Discounted Cash Flow Valuation of Delek Us Holdings, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $529.6M | $607.6M | $690.5M | $777.3M | $866.6M | $956.8M | $1.046B | $1.132B | $1.213B | $1.287B | $1.351B | $13.51B |
| DCF | $528.4M | $522.1M | $511.1M | $495.5M | $475.7M | $452.2M | $425.6M | $396.6M | $365.9M | $334.1M | $3.341B | |
| Value | $7.848B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -16%
Earnings Stability -49%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 0.45% | -3.9% | 4% | 3.3% | 3.3% | -8.3% | -1.9% | 1.3% | 0.12% | -0.48% |
| ROA | - | -1.7% | 5% | 11% | 7% | -12% | -1.9% | 6% | 3.9% | 2.4% |
| ROE | 1.4% | -13% | 15% | 19% | 17% | -54% | -21% | 24% | 2.1% | -7.4% |
What is the average Net Margin?
The average Net Margin over the past 5 years is -0.36%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.45%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +2.28%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.77%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -2.28%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -0.85%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | - | 4.13 | 12.78 | 6.83 | 13.10 | -4.37 | 15.68 | 28.05 | 4.55 | 4.86 |
| Debt Equity | - | 0.78 | 1.06 | 1.01 | 1.16 | 2.14 | 2.47 | 2.99 | 2.82 | 2.49 |
| MIN | ||||||||||
| Graham Stability | - | - | - | 100% | 100% | -190% | -1.4K% | - | - | -1.4K% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 4.86.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 1.53.
What is the Graham’s Stability?
Graham’s Stability measure stands at -14.30.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 23% | 11% | 32% | -16% | -0.38% |
| Net Income | - | -43% | - | -92% | -22% |
| Stockholders Equity | -2.9% | -12% | -5.2% | -10% | -3.7% |
| FCF | 15% | 17% | - | 420% | 48% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +10.58%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -0.38%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -43.37%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -21.7%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -11.9%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -3.73%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +17.22%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +47.98%.