Delek US Holdings, Inc.

Listed Company

DKCIK 0001694426NYSELarge AcceleratedPetroleum RefiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$10.72B

Net Income

$-22.80M

Total Assets

$6.85B

Equity

$547.30M

Shares Out

61.29M

Op. Cash Flow

$535.80M

Business

Delek US Holdings, Inc. is a publicly listed company in Petroleum Refining, incorporated in Delaware. Common stock trades on NYSE under the ticker DK.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	10,723	11,852	16,467	19,801	10,648
Cost of materials and other	8,874	10,782	14,825	18,071	9,644
Operating expenses (excluding depreciation and amortization presented below)	863	764	771	718	514
Depreciation and amortization	374	350	323	264	240
Total cost of sales	10,111	11,895	15,919	19,053	10,398
Insurance proceeds	−100,000	−21	−20	−31	−23
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)	9	3	4	9	110
General and administrative expenses	270	253	272	314	200
Depreciation and amortization	24	25	17	11	25
Asset impairment	18	244	38	0	0
Other operating income, net	−9	−56	−7	−12	−27
Total operating costs and expenses	10,422	12,344	16,223	19,344	10,683
Operating income (loss)	301	−492	245	458	−35
Interest expense, net	345	313	318	196	—
Income from equity method investments	−90	−92	−86	−58	−18
Other expense (income), net	6	−6	−4	−2	−16
Total non-operating expense, net	262	215	228	136	103
Income (loss) from continuing operations before income tax expense (benefit)	39	−706	17	322	−137
Income tax benefit	−7	−108	−3	56	−42
Income (loss) from continuing operations, net of tax	46	−598	20	265	−171
(Loss) income from discontinued operations, including gain on sale of discontinued operations	−3	106	35	33	0
Income tax (benefit) expense	−600,000	29	8	8	0
(Loss) income from discontinued operations, net of tax	−2	77	27	25	0
Net income (loss)	43	−521	47	291	−95
Net income attributed to non-controlling interests	66	40	27	33	33
Net (loss) income attributable to Delek	−23	−560	20	257	−128
(Loss) income from continuing operations (in dollars per share)	−0.34	−9.98	−0.11	3.28	−2.75
(Loss) income from discontinued operations (in dollars per share)	−0.04	1.21	0.41	0.35	0
Total basic (loss) income per share (in dollars per share)	−0.38	−8.77	0.3	3.63	−1.73
(Loss) income from continuing operations (in dollars per share)	−0.34	−9.98	−0.11	3.24	−2.75
(Loss) income from discontinued operations (in dollars per share)	−0.04	1.21	0.41	0.35	0
Total diluted (loss) income per share (in dollars per share)	−0.38	−8.77	0.3	3.59	−1.73
Basic (in shares)	61	64	65	71	74
Diluted (in shares)	61	64	65	72	74

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	626	736	822	841	857
Accounts receivable, net	649	618	784	1,234	777
Inventories, net of inventory valuation reserves	726	893	941	1,519	1,261
Other current assets	68	86	78	123	126
Total current assets	2,068	2,332	2,666	3,717	3,020
Property, plant and equipment	5,587	4,948	4,460	4,349	3,645
Less: accumulated depreciation	−2,314	−2,008	−1,764	−1,573	−1,338
Property, plant and equipment, net	3,273	2,940	2,696	2,776	2,307
Operating lease right-of-use assets	71	92	122	180	209
Goodwill	475	475	688	702	730
Other intangibles, net	406	322	288	316	103
Equity method investments	428	393	361	360	344
Other non-current assets	127	112	124	100	101
Total assets	6,848	6,666	7,172	8,193	6,813
Accounts payable	1,634	1,814	1,814	1,746	1,695
Current portion of long-term debt	10	10	45	75	92
Current portion of operating lease liabilities	27	43	50	50	54
Accrued expenses and other current liabilities	859	650	764	1,167	798
Total current liabilities	2,529	2,516	2,685	3,086	3,127
Long-term debt, net of current portion	3,224	2,756	2,555	2,979	2,126
Obligation under Inventory Intermediation Agreement	120	409	407	492	—
Environmental liabilities, net of current portion	31	33	111	112	110
Asset retirement obligations	34	25	36	35	38
Deferred tax liabilities	218	215	264	267	215
Operating lease liabilities, net of current portion	46	55	86	122	152
Other non-current liabilities	99	83	33	24	32
Total non-current liabilities	3,771	3,575	3,527	4,037	2,672
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding	0	0	0	0	0
Common stock, $0.01 par value, 110,000,000 shares authorized, 77,357,447 shares and 80,127,994 shares issued at December 31, 2025 and December 31, 2024, respectively	800,000	800,000	800,000	900,000	900,000
Additional paid-in capital	1,291	1,216	1,114	1,134	1,207
Accumulated other comprehensive loss	0	−4	−5	−5	−4
Treasury stock, 17,575,527 shares, at cost, at December 31, 2025 and December 31, 2024, respectively	−694	−694	−694	−694	−694
Retained earnings (deficit)	−311	−206	430	508	385
Non-controlling interests in subsidiaries	261	262	114	126	120
Total stockholders equity	547	575	960	1,070	1,014
Total liabilities and stockholders equity	6,848	6,666	7,172	8,193	6,813

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	398	375	340	275	265
Non-cash lease expense	40	46	60	64	61
Deferred income taxes	−11	−104	−2	62	−39
Dividends from equity method investments	41	74	61	32	29
Non-cash lower of cost or market/net realizable value adjustment	8	−11	400,000	2	8
Loss on extinguishment of debt	0	4	0	0	—
Equity-based and non-cash compensation expense	87	34	28	29	25
Other	16	500,000	5	15	−11
Accounts receivable	−22	180	460	−429	−253
Inventories and other current assets	149	85	559	−251	−469
Fair value of derivatives	7	−6	4	−5	40
Accounts payable and other current liabilities	−42	−221	−300	301	703
Obligation under Inventory Intermediation Agreements	−96	1	−192	102	140
Non-current assets and liabilities, net	−12	−94	−16	−11	−12
Cash provided by (used in) operating activities - continuing operations	538	−84	979	394	—
Cash (used in) provided by operating activities - discontinued operations	−2	17	35	32	—
Net cash provided by (used in) operating activities	536	−67	1,014	425	371
Business combination, net of cash acquired	−181	−183	0	−626	0
Equity method investment contributions	−2	−19	0	−100,000	−2
Distributions from equity method investments	16	5	15	10	10
Purchases of property, plant and equipment	−530	−428	−393	−280	−222
Purchase of equity securities	0	0	−12	0	0
Purchases of intangible assets	−13	−3	−4	−6	−1
Proceeds from sale of property, plant and equipment	10	10	2	200,000	12
Insurance and settlement proceeds	11	16	10	0	7
Other	−9	−2	0	0	—
Cash used in investing activities - continuing operations	−698	−603	−382	−901	—
Cash provided by (used in) investing activities - discontinued operations	0	362	−26	−30	—
Net cash used in investing activities	−698	−242	−408	−932	−178
Proceeds from long-term revolvers	9,871	6,922	3,546	3,385	1,339
Payments on long-term revolvers	−10,095	−7,272	−3,981	−2,473	−1,828
Proceeds from term debt	700	1,059	0	1,250	400
Payments on term debt	−10	−541	−28	−1,289	−43
Proceeds from product and other financing agreements	2,070	1,110	1,187	995	916
Repayments of product and other financing agreements	−2,041	−1,096	−1,213	−1,007	−878
Proceeds from Inventory Intermediation Agreement	0	0	32	539	0
Repayments on Inventory Intermediation Agreement	−193	0	0	—	—
Proceeds from termination of Supply & Offtake Obligation	0	0	26	−587	0
Repurchase of common stock	−79	−42	−85	−130	0
Distribution to non-controlling interest	−87	−57	−39	−36	−32
Proceeds from issuance of Delek Logistic common limited partner units, net	0	298	0	3	0
Redemption of Delek Logistics preferred units	0	−71	—	—	—
Dividends paid	−62	−64	−60	−43	0
Deferred financing costs paid	−11	−18	−5	−63	−6
Other	−11	−7	−5	—	—
Cash provided by (used in) financing activities - continuing operations	52	222	−625	491	—
Net cash provided by (used in) financing activities	52	222	−625	491	−124
Net decrease in cash and cash equivalents	−110	−87	−19	−15	69
Interest, net of capitalized interest of $12.1 million, $4.5 million, and $5.5 million in the 2025, 2024, and 2023 periods, respectively	342	300	324	187	125
Income taxes	2	4	11	28	4
Delek Logistics preferred units issued in connection with H2O Acquisition	0	70	0	0	—
Delek Logistics common units issued in connection with Gravity Acquisition	92	0	0	—	—
(Decrease) increase in accrued capital expenditures	−8	15	−28	35	5
Non-cash lease liability arising from obtaining right-of-use assets during the period	57	16	56	28	103
Non-cash right of use asset decrease due to lease termination during the period	−4	0	0	—	—
Capitalized interest	12	5	6	2	900,000

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