Delek US Holdings, Inc. (DK) vs Icahn Enterprises L.P. (IEP)

Delek US Holdings, Inc. and Icahn Enterprises L.P. are both Oil & Gas Refining & Marketing companies. Icahn Enterprises L.P. is the larger, with a market value of $4.9B against $4.1B — 1.2× the size. Icahn Enterprises L.P. has negative trailing earnings, so its P/E is not meaningful; Delek US Holdings, Inc. trades at 18.4×. Delek US Holdings, Inc. grew revenue faster over the last twelve months: 11.4% against 10.6%. Delek US Holdings, Inc. has the higher net margin (1.86% vs −4.86%) and the higher return on invested capital (12.2% vs 1.84%). Both pay a dividend; Icahn Enterprises L.P. yields more (31.1% vs 3.26%). Across the 20 metrics below, Delek US Holdings, Inc. leads on 13 and Icahn Enterprises L.P. on 7.

Valuation

Metric DK IEP Oil & Gas Refining & Marketing median
P/E 18.43 n/m 15.04
P/S 0.35 0.44 0.41
P/B 9.84 2.17 1.87
Price to free cash flow 6.19 n/m 8.78
EV/EBITDA 6.69 8.91 7.94
EV/Sales 0.56 0.60 0.59
Earnings yield 5.42% (10.63%) 6.15%
Free cash flow yield 16.16% (5.39%) 10.47%

Profitability

Metric DK IEP Oil & Gas Refining & Marketing median
Gross margin 7.12% 14.49% 12.22%
Operating margin 4.84% 1.07% 5.35%
Net margin 1.86% (4.86%) 2.08%
Free cash flow margin 5.58% (2.37%) 4.25%
Return on equity 62.57% (18.50%) 11.39%
Return on assets 3.07% (3.71%) 5.22%
Return on invested capital 12.22% 1.84% 11.54%

Growth

Metric DK IEP Oil & Gas Refining & Marketing median
Revenue growth (TTM) 11.40% 10.62% 13.37%
EPS growth (last fiscal year) 95.67% 44.68% —
Revenue growth, 5-year CAGR 7.99% 9.54% 12.77%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DK IEP Oil & Gas Refining & Marketing median
Debt to equity 7.55 2.98 0.44
Current ratio 0.76 2.87 1.32
Net debt to EBITDA 3.73 1.12 2.07

Dividend

Metric DK IEP Oil & Gas Refining & Marketing median
Dividend yield 3.26% 31.12% 3.64%
Payout ratio 0.05 — 0.14

Size

Metric DK IEP Oil & Gas Refining & Marketing median
Market cap 4.12b 4.93b 4.12b

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