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Delek Logistics Partners vs Plains GP: revenue, profit, margins and growth compared

Delek Logistics Partners brought in $1B of revenue in fiscal 2025, Plains GP $44.3B in fiscal 2025. Revenue changed by +7.7% at Delek Logistics Partners and -9.5% at Plains GP on the year before, so Delek Logistics Partners grew faster. Delek Logistics Partners kept 17.4% of its revenue as net profit, Plains GP 0.6%. Free cash flow was -$30.6M at Delek Logistics Partners and $2.3B at Plains GP.

Side by side, latest fiscal year

DKLPAGP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1B$44.3B
Revenue growth+7.7%-9.5%
Net income$176.5M$260M
Net margin17.4%0.6%
Free cash flow-$30.6M$2.3B
Free cash flow margin-3.0%5.2%
Earnings per share (diluted)n/an/a
Cash$10.9M$329M
Debt$2.3B$1.1B
Price to earningsn/an/a
Market value$2.9B$5.3B
Dividend yieldn/an/a
Rank by revenue in sector#81 of 129 · Energy#8 of 129 · Energy

Over the years

Revenue
DKL FY2018: $657.6MDKL FY2019: $584MDKL FY2020: $563.4MDKL FY2021: $700.9MDKL FY2022: $1BDKL FY2023: $1BDKL FY2024: $940.6MDKL FY2025: $1BPAGP FY2018: $34.1BPAGP FY2019: $33.7BPAGP FY2020: $23.3BPAGP FY2021: $42.1BPAGP FY2022: $57.3BPAGP FY2023: $47.3BPAGP FY2024: $48.9BPAGP FY2025: $44.3BFY18FY19FY20FY21FY22FY23FY24FY25
DKL $1BPAGP $44.3B
Net income
DKL FY2018: $90.2MDKL FY2019: $96.7MDKL FY2020: $159.3MDKL FY2021: $164.8MDKL FY2022: $159.1MDKL FY2023: $126.2MDKL FY2024: $142.7MDKL FY2025: $176.5MPAGP FY2018: $334MPAGP FY2019: $331MPAGP FY2020: -$568MPAGP FY2021: $60MPAGP FY2022: $168MPAGP FY2023: $198MPAGP FY2024: $103MPAGP FY2025: $260MFY18FY19FY20FY21FY22FY23FY24FY25
DKL $176.5MPAGP $260M
Net margin
DKL FY2018: 13.7%DKL FY2019: 16.6%DKL FY2020: 28.3%DKL FY2021: 23.5%DKL FY2022: 15.3%DKL FY2023: 12.4%DKL FY2024: 15.2%DKL FY2025: 17.4%PAGP FY2018: 1.0%PAGP FY2019: 1.0%PAGP FY2020: -2.4%PAGP FY2021: 0.1%PAGP FY2022: 0.3%PAGP FY2023: 0.4%PAGP FY2024: 0.2%PAGP FY2025: 0.6%FY18FY19FY20FY21FY22FY23FY24FY25
DKL 17.4%PAGP 0.6%
Revenue growth
DKL FY2019: -11.2%DKL FY2020: -3.5%DKL FY2021: +24.4%DKL FY2022: +47.9%DKL FY2023: -1.5%DKL FY2024: -7.8%DKL FY2025: +7.7%PAGP FY2019: -1.1%PAGP FY2020: -30.8%PAGP FY2021: +80.7%PAGP FY2022: +36.3%PAGP FY2023: -17.4%PAGP FY2024: +3.3%PAGP FY2025: -9.5%FY19FY20FY21FY22FY23FY24FY25
DKL +7.7%PAGP -9.5%
Free cash flow
DKL FY2018: $140MDKL FY2019: $121.3MDKL FY2020: $179.7MDKL FY2021: $252.1MDKL FY2022: $51.1MDKL FY2023: $129.2MDKL FY2024: $77.3MDKL FY2025: -$30.6MPAGP FY2018: $970MPAGP FY2019: $1.3BPAGP FY2020: $772MPAGP FY2021: $1.7BPAGP FY2022: $1.9BPAGP FY2023: $2.3BPAGP FY2024: $2BPAGP FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
DKL -$30.6MPAGP $2.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Delek Logistics Partners and Plains GP

Which is bigger by revenue, Delek Logistics Partners or Plains GP?

Plains GP is bigger by revenue: $44.3B in fiscal 2025, against $1B for Delek Logistics Partners in fiscal 2025.

Which keeps more of its revenue as profit, Delek Logistics Partners or Plains GP?

Delek Logistics Partners had a net margin of 17.4% in fiscal 2025; Plains GP had 0.6% in fiscal 2025.

Which grew revenue faster, Delek Logistics Partners or Plains GP?

In their latest fiscal years revenue changed by +7.7% at Delek Logistics Partners and -9.5% at Plains GP.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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