Stock fact sheet · data as of
Delek Logistics Partners, LP (DKL): fair value, margin of safety and Wheel Score
Ticker symbol DKL · Energy · Oil & Gas Midstream · United States · Partnership units · Blend Income
DKL trades as units of Delek Logistics Partners, LP, a limited partnership: owners receive a K-1 tax form instead of a 1099, and the payouts are distributions rather than dividends.
Is DKL undervalued?
At 52.31 (close of 5 Nov 2026), DKL trades within a few percent of the GLS average fair value of 50.17 (4.3% above fair value). 8 models produced a value and they split 4 above the price to 4 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
There is a wide gap between Lynch (14.91) and DCF (96.74). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for DKL, so the nightly engine files it under Blend (value score 39, growth score 43, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for DKL
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 96.74 | +85% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | 53.24 | +2% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 14.91 | -71% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 15.45 | -70% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 71.49 | +37% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 50.65 | -3% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 66.66 | +27% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 32.19 | -38% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -41.05 | -178% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 57.00 | +9% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Delek Logistics Partners, LP scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. On durability DKL scores 6.0/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are moderate - ROIC 7.4%, ROE 2886.2%, ROA 6.3% - with debt at 389.20 times equity and a free-cash-flow yield of 4.2%. Debt of 389.20 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 8.66% (payout ratio 156%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Wholesale Marketing and Terminalling 55%, Gathering And Processing 35%, Storage And Transportation 11% (quarter Q4 FY2023).
Institutional ownership scores 3/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 13 Aug 2026.
| Piotroski F-score | 7 / 9 | ROIC | 7.4% |
|---|---|---|---|
| GLS Moat | 6.0 / 10 | ROE | 2886.2% |
| Debt / equity | 389.20 | ROA | 6.3% |
| Free-cash-flow yield | 4.2% | Payout ratio | 156% |
| Institutions | 3 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 34: Weak
With a Wheel Score of 34 Delek Logistics Partners, LP sits in the Weak band. It fails filter 3, below fair value - trades 4% above our fair value; and filter 5, can repay its debt - 9.9 years to repay its debt (over 3); Value (weak) is its weakest part.
Implied volatility is 36% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 5,706 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 133k shares a day on a market cap of $3.0B, with a beta of 0.45 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 4% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Fails | 9.9 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 4% above fair value | |
| Premium | Strong | implied volatility 36% | |
| Moat | Good | moat 6.0/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Weak | Red Flags score 62/100 | |
| Option trading | Weak | 158 contracts a day, 5,706 open interest | |
| Stability | Fair | beta 0.45, $3.0B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Delek Logistics Partners, LP reports earnings on 6 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Midstream
The 12 companies below are the closest to Delek Logistics Partners, LP by market cap within the Oil & Gas Midstream industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| EE Excelerate Energy, Inc. | 34.29 | 63.78 | +46% | 80Good | $3.9B |
| KNTK Kinetik Holdings Inc. | 51.17 | 203.51 | +75% | 47Weak | $4.1B |
| LPG Dorian LPG Ltd. | 49.43 | 84.86 | +42% | 80Good | $2.1B |
| GLNG Golar LNG Limited | 44.88 | 34.79 | -29% | 40Weak | $4.6B |
| NGL NGL Energy Partners LP | 15.52 | 36.03 | +57% | 43Weak | $1.9B |
| PAGP Plains GP Holdings LP | 26.93 | 67.82 | +60% | 41Weak | $5.3B |
| GEL Genesis Energy, L.P. | 13.26 | 33.67 | +61% | 48Weak | $1.6B |
| GLP Global Partners LP | 43.47 | 59.60 | +27% | 47Weak | $1.5B |
| TEN Tsakos Energy Navigation Limited | 46.80 | 88.10 | +47% | 49Weak | $1.4B |
| HESM Hess Midstream LP | 31.80 | 50.30 | +37% | 54Fair | $6.6B |
| PBT Permian Basin Royalty Trust | 28.49 | 8.25 | -246% | 35Weak | $1.3B |
| SOBO South Bow Corporation | 34.05 | 45.58 | +25% | 50Fair | $7.1B |
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Start free See the Sunday ScanQuestions about DKL
Is DKL undervalued right now?
Not meaningfully: at 52.31 the stock trades within a few percent of the GLS average fair value of 50.17 (4.3% above fair value, data as of 5 Nov 2026).
What is the Wheel Score of DKL and what does it mean?
DKL scores 34 out of 100 (Weak) - it fails Wheel Trade Filters 3, 5. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for DKL?
50.17 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Delek Logistics Partners, LP report earnings next?
The next earnings report is due on 6 Nov 2026 (before the open), 1 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does DKL have listed options, and how liquid are they?
Yes. The nightly snapshot found 36 listed contracts with 5,706 open interest across all expiries and implied volatility of 36% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is DKL a partnership?
Yes. DKL trades as units of Delek Logistics Partners, LP, a limited partnership: owners receive a K-1 tax form instead of a 1099, and the payouts are distributions rather than dividends.