Delek Logistics Partners LP (DKL) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Delek Logistics Partners LP $39.49, price $54.97, upside -28.2%, quality 23 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $24.63 – $60.31 · fair‑value band $22.43 – $49.37 · the $54.97 price screens above the $39.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States.
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Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The company operates in four segments: Gathering and Processing, Wholesale Marketing and Terminalling, Storage and Transportation, and Investments in Joint Ventures. It offers tanks, offloading facilities, and trucks and ancillary assets that provide crude oil, hydrocarbon-based products, intermediate and refined products transportation, and storage services. Delek Logistics GP, LLC serves as the general partner of the company. Delek Logistics Partners, LP was incorporated in 2012 and is headquartered in Brentwood, Tennessee. Delek Logistics Partners, LP operates as a subsidiary of Delek US Holdings, Inc.
Stock analysis
Delek Logistics Partners LP (DKL) currently trades at $54.97, while our model-based Fair Value estimate is $39.49, implying the stock looks roughly 39.2% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of $55.47 per share, and 2 of the 11 models we run sit above the $54.97 price.
Bear case: the DCF Models group reads lowest at $7.57, and 9 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: $22.43 (bear) to $49.37 (bull), the price of $54.97 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 23/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Delek Logistics Partners LP reported revenue of $1.0B in FY2025 versus $701M in FY2021, a compound +9.7%/yr. Reported net income was $176M in FY2025, compounding +1.7%/yr from FY2021.
Key figures
Market cap $2.9B · P/E ratio 17.3 · P/S ratio 3.02 · EPS (TTM) $3.17 · Dividend yield 8.2% · Net margin 17.4% · Return on equity 43.9% · Return on assets (EBIT) 12.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 37% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −61% fair-value upside, at −28%, DKL screens cheaper than that median.
Fair Value models
Bear $22.43Fair Value $39.49Bull $49.37
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
Start year 2020 (pandemic). Over 10 years: +5.6% a year
Revenue growth 15 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.6%
Dividend (yield on the price)8.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4% vs 2%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 18%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 5.4%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Refining & Marketing · 108 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score22 · Bottom 25%
Fair Value upside−27% · Below median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets4% · Above median
Net margin (TTM)16% · Top 25%
Operating margin (TTM)13% · Top 25%
Growth and dividend
Revenue growth19% · Top 25%
Dividend yield (TTM)8.2% · Top 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper
P/E (TTM)17.3× · Pricier than median
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)2.73× · Priciest 25%
EV/EBITDA17.6× · Priciest 25%
PEG0.77× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 15
FUTURE (revenue growth)95· sector 14
PAST (return on equity)0· sector 34
HEALTH (low debt)0· sector 81
DIVIDEND (yield)100· sector 51
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Delek Logistics Partners LP (DKL) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $39.49 versus a price of $54.97, about −28% upside (overvalued).
What is the fair value of DKL?
Our model-based fair value for Delek Logistics Partners LP is $39.49 (as of Sep 24, 2026), built from audited fundamentals. The current price: $54.97.
What is the quality score of DKL?
Delek Logistics Partners LP has a Quality Score of 23/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Delek Logistics Partners LP (DKL)?
Our model-based price target is the fair value of $39.49 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario $22.43, optimistic scenario $49.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Delek Logistics Partners LP stock forecast for 2026?
Our models put fair value at $39.49, about −28% upside versus a price of $54.97 (overvalued). Cautious scenario $22.43, optimistic scenario $49.37. The calculation is refreshed regularly with new filings.
What is the revenue of Delek Logistics Partners LP (DKL)?
Delek Logistics Partners LP reported trailing-twelve-month revenue of about $1.1B (latest available figure, as of Sep 24, 2026).
Does Delek Logistics Partners LP pay a dividend?
Delek Logistics Partners LP currently shows a dividend yield of about 8.17% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Delek Logistics Partners LP (DKL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delek Logistics Partners LP it is $39.49 per share (as of Sep 24, 2026), against a price of $54.97. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Delek Logistics Partners LP stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DKL trades above its calculated fair value: price $54.97, fair value $39.49, a gap of about −28% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DKL?
No. The price is what the market pays today ($54.97); the fair value is what the company's own numbers justify ($39.49). For Delek Logistics Partners LP the two are $15.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is Delek Logistics Partners LP worth?
The market values Delek Logistics Partners LP at about $2.9B (market capitalisation, as of Sep 24, 2026). Per share that is $54.97; our models calculate a fair value of $39.49 per share.
What do the bullish and bearish scenarios say about DKL?
Our models span a range for Delek Logistics Partners LP: cautious scenario $22.43, base $39.49, optimistic $49.37 per share (as of Sep 24, 2026, price $54.97). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DKL?
Delek Logistics Partners LP trades at a price-to-earnings ratio of 17.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $39.49 is built from several models across several years. Other multiples: PEG 0.8, P/S 2.7, EV/EBITDA 17.6.
What is the PEG ratio of DKL?
The PEG ratio of Delek Logistics Partners LP is 0.77 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Delek Logistics Partners LP (DKL)?
Balance-sheet figures for Delek Logistics Partners LP (as of Sep 24, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is DKL from its 52-week high?
Delek Logistics Partners LP trades at $54.97, about 9% below its 52-week high of $60.31 and 37% above the low of $39.98 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $39.49 is for.
Which stocks are comparable to Delek Logistics Partners LP?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Marathon Petroleum Corporation, Phillips 66, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Delek Logistics Partners LP stock attractive at the current price?
The data as of Sep 24, 2026: price $54.97, calculated fair value $39.49 (−28%), Quality Score 23/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DKL calculated?
We run Delek Logistics Partners LP through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $39.49, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Delek Logistics Partners LP itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Delek Logistics Partners LP (DKL)?
The closing price on Sep 23, 2026 was $54.97. Our model-based fair value is $39.49, about −28% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delek Logistics Partners LP right now?
The price sits above even our optimistic bull case ($49.37). The favourable scenario is already priced in. Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($22.43 to $49.37) leaves room in how you read the outcome.
Where does the earnings growth of Delek Logistics Partners LP (DKL) come from?
Earnings per share at Delek Logistics Partners LP grew +1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −2.5 %, EBIT margin +5.9 %, tax rate −0.1 %, residual (interest, one-offs) −2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Delek Logistics Partners LP
How large is the market capitalisation of Delek Logistics Partners LP (DKL)?
The market capitalisation of Delek Logistics Partners LP is $2.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Delek Logistics Partners LP (DKL)?
The price-to-sales ratio of Delek Logistics Partners LP is 3.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Delek Logistics Partners LP (DKL)?
Earnings per share at Delek Logistics Partners LP are $3.17 (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Delek Logistics Partners LP (DKL)?
The dividend yield of Delek Logistics Partners LP is 8.2% (payout 142%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Delek Logistics Partners LP (DKL)?
The net margin of Delek Logistics Partners LP is 17.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Delek Logistics Partners LP (DKL)?
The return on equity (ROE) of Delek Logistics Partners LP is 43.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Delek Logistics Partners LP (DKL)?
On an EBIT basis the return on assets of Delek Logistics Partners LP is 12.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Delek Logistics Partners LP (DKL)?
The operating margin of Delek Logistics Partners LP is 13.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delek Logistics Partners LP (DKL)?
Revenue at Delek Logistics Partners LP is growing +19.0% versus a year earlier (3y avg −0.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Delek Logistics Partners LP (DKL)?
Earnings per share at Delek Logistics Partners LP are growing −17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Delek Logistics Partners LP (DKL) generate?
The free cash flow of Delek Logistics Partners LP is −$30.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Delek Logistics Partners LP (DKL) carry?
The net debt of Delek Logistics Partners LP is $2.4B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Sep 24, 2026