Delek US Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Delek US Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,198	7,267	10,233	9,298	7,302	10,648	19,801	16,467	11,852	10,723
Cost of revenue	4,166	6,835	9,260	8,408	7,563	10,398	19,053	15,919	11,895	10,111
Gross profit	31.8	432	973	890	-261	251	748	549	-43.1	612
Selling, general and administrative	106	176	248	275	235	200	314	272	253	270
Operating expenses	247	376	539	580
Operating income	-49.2	180	612	492	-732	-34.7	458	245	-492	301
Interest expense	54.4	93.8	126	131	129	18.1	23.4	61.4
Interest income	1.5	4	5.8	11.3	3.3	0.5
Other non-operating income	-342	119	-126	-89.6	-35.1	-103	-136	-228	-215	-262
Pre-tax income	-391	299	486	403	-767	-137	322	16.6	-706	38.9
Income tax	-172	-29.2	102	71.7	-194	-42	56.4	-3	-108	-6.8
Income from continuing operations	-240	295	357	305	-608
Net income to minority interests	20.3	33.8	34.8	25.6	37.6	33	33.4	26.9	39.5	66.1
Net income	-154	289	340	311	-611	-128	257	19.8	-560	-22.8
EBITDA	67.2	334	811	687	-465	230	733	584	-117	699
EPS, basic	-2.49	4.04	4.11	4.10	-8.31	-1.73	3.63	0.30	-8.77	-0.38
EPS, diluted	-2.49	4.00	3.95	4.06	-8.31	-1.73	3.59	0.30	-8.77	-0.38
Shares, basic (weighted)	61.9	71.6	82.8	75.9	73.6	74	70.8	65.4	63.9	60.7
Shares, diluted (weighted)	61.9	72.3	86.8	76.6	73.6	74	71.5	65.4	63.9	60.7
Dividend per share	0.60	0.60	0.96	1.14	0.93	0.00	0.61	0.93	1.01	1.02

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	689	932	1,079	955	788	857	841	822	736	626
Receivables	266	580	514	793	528	777	1,234	784	618	649
Inventory	392	808	678	947	728	1,261	1,519	941	893	726
Other current assets	49.3	130	149	269	256	126	123	77.8	85.5	67.5
Total current assets	1,397	2,612	2,420	2,963	2,300	3,020	3,717	2,666	2,332	2,068
Property, plant and equipment	1,103	2,141	2,195	2,428	2,367	2,307	2,776	2,696	2,940	3,273
Lease right-of-use assets				184	182	209	180	122	92.2	71.4
Goodwill	12.2	817	858	856	730	730	702	688	475	475
Intangible assets	26.7	101	104	110	108	103	316	288	322	406
Other non-current assets	80.7	127	52.9	67.8	84.3	101	100	124	112	127
Total assets	2,980	5,935	5,761	7,016	6,134	6,813	8,193	7,172	6,666	6,848
Accounts payable	495	973	1,011	1,600	1,144	1,695	1,746	1,814	1,814	1,634
Accrued liabilities			46.5	47.6	30.2	44.4	91.2	64.7	43.2	73.3
Short-term debt	84.4	590	32	36.4	33.4	92.2	74.5	44.5	9.5	9.5
Total current liabilities	935	2,672	1,664	2,356	1,903	3,127	3,086	2,685	2,516	2,529
Long-term debt	749	875	1,751	2,031	2,315	2,126	2,979	2,555	2,756	3,224
Lease liabilities				144	132	152	122	85.7	54.8	46.1
Other non-current liabilities	26	83	62.9	30.9	33.7	31.8	23.7	33.1	82.6	98.8
Total liabilities	1,797	3,971	3,953	5,181	5,018	5,799	7,123	6,212	6,091	6,300
Total debt	833	1,466	1,783	2,067	2,348	2,218	3,054	2,600	2,765	3,233
Paid-in capital	651	900	1,135	1,152	1,185	1,207	1,134	1,114	1,216	1,291
Retained earnings	522	768	982	1,206	522	385	508	430	-206	-311
Treasury stock	-161	-25	-514	-692	-694	-694	-694	-694	-694	-694
Other comprehensive income	-20.8	6.9	28.6	0.1	-7.2	-3.8	-5.2	-4.8	-4.1	0
Shareholders' equity	1,183	1,964
Minority interests	191	314	176	169	118	120	126	114	262	261
Total equity	1,183	1,964	1,808	1,835	1,116	1,014	1,070	960	575	547
Total liabilities and equity	2,980	5,935	5,761	7,016	6,134	6,813	8,193	7,172	6,666	6,848
Shares outstanding	67.2	81.5

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-133	323	375	336	-574	-95.3	291	46.7	-521	43.3
Depreciation and amortization	116	153	199	194	268	265	275	340	375	398
Stock-based compensation	16.4	17.5	21.4	25.8	22.8	24.6	29.1	27.5	33.8	86.7
Deferred income tax	-153	-48	-26.8	64.6	-33	-38.9	61.6	-1.6	-104	-10.5
Change in receivables	-48.1	-156	113	-277	260	-253	-429	460	180	-21.5
Change in payables	224	291	-128	565	-480	703	301	-300	-221	-42
Cash from operations	248	320	560	575	-283	371	425	1,014	-66.8	536
Capital expenditures	-46.3	-172	-322	-413	-269	-222	-280	-393	-428	-530
Acquisitions	0	196	0	0	0	0	-626	0	-183	-181
Purchases of investments						0	0	-11.9	0	0
Cash from investing	201	37.6	-125	-691	-191	-178	-932	-408	-242	-698
Stock issued	0	0
Share buybacks	-6	-25	-365	-178	-1.9	0	-64	0	0
Dividends paid	-37.5	-44	-80.1	-86.8	-69.1	0	-42.8	-60.3	-64.2	-62
Cash from financing	-61.7	-105	-298	-7.9	306	-124	491	-625	222	52.3
Net change in cash	387	253	137	-124	-168	69	-15.2	-19.1	-86.6	-110
Free cash flow	202	148	238	162	-552	149	145	621	-495	6.3
Interest paid	51.9	82.1	120	126	124	125	187	324	300	342
Income taxes paid	1.7	70.5	104	94.2	3.6	4.2	27.6	-4.8	-1.5	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $67.84 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	7.1%	Gross profit / revenue.
Operating margin	4.8%	Operating income / revenue.
EBITDA margin	8.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.6%	Pre-tax income / revenue.
Net margin	1.9%	Net income / revenue.
FCF margin	5.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.5%	Cash from operations / revenue.
Effective tax rate	8.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	3.0%	Net income / average total assets.
SG&A / revenue	1.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.9%	Capital expenditures / revenue.
D&A / revenue	3.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-9.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-18.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit CAGR, 3y	-6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 3y	-13.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 3y	-1.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	8.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-64.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	1.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	18.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	1.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.76x	Current assets / current liabilities.
Quick ratio	0.44x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Debt / assets	42.2%	Total debt / total assets.
Liabilities / assets	94.4%	Total liabilities / total assets.
Net debt	$2.56B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.55x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$808.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	11.6%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.60x	Revenue / average total assets.
Fixed asset turnover	3.51x	Revenue / average property, plant and equipment.
Inventory turnover	11.2x	Cost of revenue / average inventory.
Days inventory	33 days	365 x average inventory / cost of revenue.
Receivables turnover	13.9x	Revenue / average receivables.
Days sales outstanding	26 days	365 x average receivables / revenue.
Days payables	60 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-2 days	Days inventory + days sales outstanding - days payables.
FCF conversion	303.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	46.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.59	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$192.95	Revenue / diluted weighted shares.
FCF per share	$10.90	Free cash flow / diluted weighted shares.
Operating cash flow per share	$20.34	Cash from operations / diluted weighted shares.
Cash per share	$10.06	(Cash + short-term investments) / shares outstanding.
Payout ratio	27.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	9.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.15B	Share price x shares outstanding.
Enterprise value	$6.72B	Market cap + total debt - cash - short-term investments.
P/E	18.5x	Market cap / net income. Only when net income is positive.
P/S	0.34x	Market cap / revenue.
P/FCF	6.10x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.27x	Market cap / cash from operations, when positive.
EV/Sales	0.56x	Enterprise value / revenue.
EV/EBIT	11.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.68x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.86x	Enterprise value / free cash flow, when both are positive.
FCF yield	16.4%	Free cash flow / market cap.
Earnings yield	5.4%	Net income / market cap (the inverse of P/E).
Dividend yield	1.5%	Dividends paid over the period / market cap.
Shareholder yield	1.5%	(Dividends paid + share buybacks) / market cap.

What was Delek US Holdings, Inc.'s revenue in fiscal 2025?

Delek US Holdings, Inc. reported revenue of $10.72B for fiscal 2025, 9.5% lower than the year before.

Was Delek US Holdings, Inc. profitable in fiscal 2025?

No. It reported a net loss of $22.8M.

How much free cash flow did Delek US Holdings, Inc. generate in fiscal 2025?

Cash from operations of $535.8M minus capital expenditures of $529.5M left free cash flow of $6.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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