Delek Logistics Partners, L.P. (DKL) vs World Kinect Corporation (WKC)

Delek Logistics Partners, L.P. and World Kinect Corporation are both Oil & Gas Refining & Marketing companies. Delek Logistics Partners, L.P. is the larger, with a market value of $3.2B against $1.8B — 1.7× the size. World Kinect Corporation has negative trailing earnings, so its P/E is not meaningful; Delek Logistics Partners, L.P. trades at 18.8×. Delek Logistics Partners, L.P. grew revenue faster over the last twelve months: 30.3% against 7.61%. Delek Logistics Partners, L.P. has the higher net margin (12.9% vs −0.43%) and the higher return on invested capital (4.97% vs −2.02%). Both pay a dividend; Delek Logistics Partners, L.P. yields more (9.38% vs 2.42%). Across the 21 metrics below, Delek Logistics Partners, L.P. leads on 14 and World Kinect Corporation on 7.

Valuation

Metric DKL WKC Oil & Gas Refining & Marketing median
P/E 18.78 n/m 15.04
P/S 2.39 0.04 0.41
P/B n/m 1.45 1.87
Price to free cash flow 24.28 93.89 8.78
EV/EBITDA 16.10 8.97 7.94
EV/Sales 4.40 0.06 0.59
Earnings yield 5.33% (8.97%) 6.15%
Free cash flow yield 4.12% 1.07% 10.47%

Profitability

Metric DKL WKC Oil & Gas Refining & Marketing median
Gross margin 17.58% 2.69% 12.22%
Operating margin 15.32% (0.15%) 5.35%
Net margin 12.85% (0.43%) 2.08%
Free cash flow margin 9.84% 0.05% 4.25%
Return on equity (826.14%) (12.49%) 11.39%
Return on assets 5.48% (2.83%) 5.22%
Return on invested capital 4.97% (2.02%) 11.54%

Growth

Metric DKL WKC Oil & Gas Refining & Marketing median
Revenue growth (TTM) 30.33% 7.61% 13.37%
EPS growth (last fiscal year) 10.37% (1,072.57%) —
Revenue growth, 5-year CAGR 12.46% 12.64% 12.77%
Net income growth, 5-year CAGR 4.66% 0.00% 0.00%

Health

Metric DKL WKC Oil & Gas Refining & Marketing median
Debt to equity (34.54) 0.59 0.44
Current ratio 0.96 1.06 1.32
Net debt to EBITDA 7.63 1.81 2.07

Dividend

Metric DKL WKC Oil & Gas Refining & Marketing median
Dividend yield 9.38% 2.42% 3.64%
Payout ratio — 0.29 0.14

Size

Metric DKL WKC Oil & Gas Refining & Marketing median
Market cap 3.15b 1.84b 4.12b

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