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 $1.9B — 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 20.0×. 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 (7.86% vs 2.38%). 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 19.99 n/m 16.35
P/S 2.54 0.04 0.44
P/B n/m 1.46 2.05
Price to free cash flow 25.84 95.00 9.98
EV/EBITDA 16.66 9.05 8.04
EV/Sales 4.55 0.06 0.59
Earnings yield 5.00% (8.86%) 5.71%
Free cash flow yield 3.87% 1.05% 9.13%

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%) 31.15%
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 7.86% 2.38% 1.71%
Payout ratio 1.57 — 0.35

Size

Metric DKL WKC Oil & Gas Refining & Marketing median
Market cap 3.23b 1.88b 4.71b

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