CrossAmerica Partners LP (CAPL) vs Delek Logistics Partners, L.P. (DKL)

CrossAmerica Partners LP and Delek Logistics Partners, L.P. are both Oil & Gas Refining & Marketing companies. Delek Logistics Partners, L.P. is the larger, with a market value of $3.2B against $824.9M — 3.8× the size. CrossAmerica Partners LP trades at the lower P/E: 15.6× against 18.8×. Delek Logistics Partners, L.P. grew revenue faster over the last twelve months: 30.3% against 0.29%. Delek Logistics Partners, L.P. has the higher net margin (12.9% vs 1.36%) and the lower return on invested capital (4.97% vs 11.5%). Both pay a dividend; Delek Logistics Partners, L.P. yields more (9.38% vs 9.36%). Across the 22 metrics below, CrossAmerica Partners LP leads on 12 and Delek Logistics Partners, L.P. on 10.

Valuation

Metric CAPL DKL Oil & Gas Refining & Marketing median
P/E 15.57 18.78 15.04
P/S 0.21 2.39 0.41
P/B n/m n/m 1.87
Price to free cash flow 5.95 24.28 8.78
EV/EBITDA 8.15 16.10 7.94
EV/Sales 0.40 4.40 0.59
Earnings yield 6.42% 5.33% 6.15%
Free cash flow yield 16.81% 4.12% 10.47%

Profitability

Metric CAPL DKL Oil & Gas Refining & Marketing median
Gross margin 10.94% 17.58% 12.22%
Operating margin 2.93% 15.32% 5.35%
Net margin 1.36% 12.85% 2.08%
Free cash flow margin 3.57% 9.84% 4.25%
Return on equity (54.75%) (826.14%) 11.39%
Return on assets 5.22% 5.48% 5.22%
Return on invested capital 11.54% 4.97% 11.54%

Growth

Metric CAPL DKL Oil & Gas Refining & Marketing median
Revenue growth (TTM) 0.29% 30.33% 13.37%
EPS growth (last fiscal year) 96.15% 10.37% —
Revenue growth, 5-year CAGR 13.64% 12.46% 12.77%
Net income growth, 5-year CAGR (18.28%) 4.66% 0.00%

Health

Metric CAPL DKL Oil & Gas Refining & Marketing median
Debt to equity (6.77) (34.54) 0.44
Current ratio 0.76 0.96 1.32
Net debt to EBITDA 3.63 7.63 2.07

Dividend

Metric CAPL DKL Oil & Gas Refining & Marketing median
Dividend yield 9.36% 9.38% 3.64%
Payout ratio — — 0.14

Size

Metric CAPL DKL Oil & Gas Refining & Marketing median
Market cap 824.92m 3.15b 4.12b

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