Delek US Holdings, Inc. · Petroleum Refining

DK

Elevated riskNext report: Due any day

View price ↗

The short version

A company still losing money with growing sales.

Going well

Sales up 48% in the latest quarter vs a year ago
Buying back shares: share count down 15% in 3 years
Raised its dividend (1.3% yield)

Watch out for

Losing money
Bills due within a year exceed short-term assets

Money moves

No insider buying or selling in the last 30 days
Institutions added 0.6% to their holdings in the quarter ending June 2026 (164 bought, 129 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$78.46+5.4% that day

Company value: $4.8B; Share price times all shares
Price vs profit (P/E): 21.9x; You pay about $22 for each $1 of yearly profit
Price vs sales: 0.40x; Company value is 0.40 times a year of sales
Dividend yield: 1.3%; Yearly dividend as a share of today's price
Cash vs value: 13%; Cash as a share of company value
Debt vs value: 67%; Debt as a share of company value

From DK's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$4.1B+48% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $12.1B, up 11% from the 12 months before. Over 5 years, sales grew about 8.0% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DK. Starting points are the company's recent numbers.

Sales growth+11% a yearRecently: +11% a yearProfit margin2%Last 12 months: 1.9%P/E at the end22xToday: 21.9x. Many steady companies trade at 12x to 25xShare count change-5% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$20.3B

Profit in 5 years$406M

Price these guesses point to$188.66+140% vs $78.46 todayAbout +19% a year, before dividends

What today's price needs: with a 2% margin and a 22x P/E, sales could shrink about 6.9% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/4Mixed

MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-0.2%
MissProfitable every yearSteady profits, not one good year.5 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$6.3M
PassShare count not growingNot diluting owners. Falling means buybacks.-15.1% in 3 years

Revenue: $10.7B; -9.5% vs prior year
5-year growth: +8.0%/yr; revenue, per year
Total debt: $3.2B
Current ratio: 0.82x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Apr 29

Revenue: $4.1B; +47.8% YoY
EPS: $2.71; vs -$1.76
Op. margin: 7.4%; +8.6 pts
Gross margin: 8.9%; +7.0 pts
Free cash flow: $89.1M
Share count: +3.3%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 2.6
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+0.6%

Institutions added 0.6% to their holdings. 164 bought, 129 sold.

Shares held by institutions61.7M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-1.9%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

7.5x · $3.2B debt

Shares outstandingLatest reported

61M

Why elevated risk

Losing money
High debt: 7.55x equity
Bills due within a year exceed short-term assets
1 offering filing in 6 months (may sell new shares)

Earnings reports

Last 12

Next reportDue any dayEstimated from the same quarter last year

Results filedApr 29
Results filedFeb 27
Results filedNov 7, 2025
Results filedAug 6, 2025
Results filedMay 7, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Oct 5 · View filing ↗Big holder Major agreementSep 29 · View filing ↗Offering 5%+ holder update (passive)Aug 10 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

5%+ holder update (passive)Oct 5 · Form SCHEDULE 13G/A ↗Major agreementSep 29 · Form 8-K ↗

SoldWilliam J FinnertyDirector

2,943 shares at $77.17 avg ($76.67 to $77.59) · $227K

-9% of holdings
Now owns 30,405 shares
Not a pre-planned sale
2 transactions
Filed 4 days after trade

Sep 11Form 4 ↗

SoldAmber RussellEVP, Refining

5,392 shares at $75.50 · $407K

-13% of holdings
Now owns 35,670 shares
Not a pre-planned sale
Filed 4 days after trade

Sep 11Form 4 ↗

Shares withheld for taxesMark Wayne HobbsEVP, Delek Logistics

1,227 shares at $74.89 · $92K

-1% of holdings
Now owns 103,099 shares
Filed 4 days after trade

Sep 10Form 4 ↗

Shares withheld for taxesAmber RussellEVP, Refining

1,736 shares at $74.89 · $130K

-4% of holdings
Now owns 41,062 shares
Filed 4 days after trade

Sep 10Form 4 ↗

Shares withheld for taxesRobert G. WrightEVP, Chief Financial Officer

311 shares at $74.89 · $23K

-1% of holdings
Now owns 45,967 shares
Filed 4 days after trade

Sep 10Form 4 ↗

Shares withheld for taxesAvigal SoreqPresident & CEO, Director

5,626 shares at $74.89 · $421K

-2% of holdings
Now owns 225,860 shares
Filed 4 days after trade

Sep 10Form 4 ↗

Insider tradeSep 14 · Form 4 ↗Planned insider saleSep 11 · Form 144 ↗Planned insider saleSep 11 · Form 144 ↗Insider tradeSep 9 · Form 4 ↗Planned insider saleSep 4 · Form 144 ↗Insider tradeSep 3 · Form 4 ↗Planned insider saleSep 1 · Form 144 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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