Delek US Holdings

Oil & Gas Refining & Marketing · Energy

Price

$71.47

+7.43 (+11.60%)

Market Cap

$4.38B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Strong

Stability

Weak

Valuation

Mixed

Dividends

Weak

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Share count falling — buybacks

−18.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 74.0M (2021) → 60.7M (2025)

Winston Score History

The full picture

Delek US Holdings is an energy company that buys crude oil and turns it into fuels like gasoline, diesel, and jet fuel. It sells those fuels to gas stations, trucking companies, and other businesses that need refined petroleum products. The company operates refineries mainly in the southern and mid-continent United States, including facilities in Texas, Arkansas, and Louisiana.

Delek makes most of its money on the "crack spread," which is the difference between what it pays for crude oil and what it charges for refined fuels. It also owns retail fuel stations and has a stake in pipeline and logistics assets through Delek Logistics Partners. Refining is a low-margin, commodity-driven business, and Delek's negative return on invested capital reflects how difficult the current margin environment has been. The biggest risk the company faces is a sustained narrowing of crack spreads, which can quickly turn thin profits into losses.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+47.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+256.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

2.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Delek US Holdings grew revenue 48% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

8.9%

Thin — 8.9% gross margin

Profit after running costs

Operating Margin

7.4%

Modest — 7.4% operating margin

Return on the money invested

ROCE

19.1%

Strong — 19.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+11.4%

Steady sales growth (+11.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

775%

Turns 775% of profit into real cash

Spare cash per sale

FCF Margin

8.0%

Modest free cash flow (8.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

7.55

Heavy debt load (7.55)

Covers its interest

Interest Cover

2.04x

Tight — interest eats into profit (2.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

19.6x

Fair value — P/E 19.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

1.51%

Small dividend — 1.51% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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