Delek US Holdings, Inc.
DK Energy Oil & Gas Refining & Marketing
Delek US Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.7 billion, down 9.53% from fiscal 2024. In the quarter to June 2026, revenue grew 47.8%, EPS grew 256.8%, free cash flow grew 173.9% and total debt rose 2.87%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Delek US Holdings, Inc. (DK) Piotroski F-score
Delek US Holdings, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 3.00 |
| FY2024 | 2 | (3.00) |
| FY2023 | 5 | (3.00) |
| FY2022 | 8 | 2.00 |
| FY2021 | 6 | 4.00 |
| FY2020 | 2 | (3.00) |
| FY2019 | 5 | (1.00) |
| FY2018 | 6 | (1.00) |
| FY2017 | 7 | 4.00 |
| FY2016 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.34%) | (8.10%) | Fail | 0 |
| Positive operating cash flow | 535.80m | (66.80m) | Pass | 1 |
| Rising return on assets | (0.34%) | (8.10%) | Pass | 1 |
| Cash flow above net income | 558.60m | 493.60m | Pass | 1 |
| Falling long-term leverage | 0.48 | 0.40 | Fail | 0 |
| Rising current ratio | 0.82 | 0.93 | Fail | 0 |
| No new shares issued | 60,703,600 | 63,882,200 | Pass | 1 |
| Rising gross margin | 5.71% | (0.36%) | Pass | 1 |
| Rising asset turnover | 1.59 | 1.71 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CVI CVR Energy Inc. compare | 8 |
| PARR Par Pacific Holdings, Inc. compare | 7 |
| DK Delek US Holdings, Inc. | 5 |
| UGP Ultrapar Participacoes S.A. compare | 5 |
| CSANY Cosan S.A. Sponsored ADR compare | 4 |
| DKL Delek Logistics Partners, L.P. compare | 4 |
| IEP Icahn Enterprises L.P. compare | 4 |
| PBF PBF Energy Inc. compare | 4 |
| SHI SINOPEC Shangai Petrochemical Company, Ltd. compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover