Stock fact sheet · data as of
Delek Logistics Partners, LP (DKL): fair value, margin of safety and Wheel Score
Energy · Oil & Gas Midstream · United States · High Yield Income
Is DKL undervalued?
At 55.94 (close of 16 Oct 2026), DKL trades 13% over the GLS average fair value of 49.57. 3 of the 8 models land above the price and 5 below. A negative margin of safety costs Value points in the Wheel Score (7 of 25 here) - the models see no discount, which does not make the business a poor one, only the price a full one.
There is a wide gap between Lynch (14.93) and DCF (92.99). 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.
The nightly engine files DKL under High Yield Income: a dividend yield above 4%.
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 | 92.99 | +66% | 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 | 53.28 | -5% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 14.93 | -73% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 14.98 | -73% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 71.49 | +28% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 50.38 | -10% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 66.36 | +19% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 32.19 | -42% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -41.05 | -173% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 56.33 | +1% | 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 Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 2.9/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
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 4.0%. 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 8.06% (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.
| Piotroski F-score | 7 / 9 | ROIC | 7.4% |
|---|---|---|---|
| GLS Moat | 2.9 / 10 | ROE | 2886.2% |
| Debt / equity | 389.20 | ROA | 6.3% |
| Free-cash-flow yield | 4.0% | Payout ratio | 156% |
| Institutions | 3 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 57: Fair
A Wheel Score of 57 puts Delek Logistics Partners, LP in the Fair band - below the 70 the Sunday Scan requires. Value 7/25, Health 16/20, Moat 4/15, Premium 20/20 and Stability 10/20; the weakest part is Moat (4/15).
Implied volatility is 37% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 8,565 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 102k shares a day on a market cap of $3.2B, 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 gives that 10 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 7 / 25 | -13% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 4 / 15 | moat 2.9/10 | |
| Premium | 20 / 20 | implied volatility 37% | |
| Stability | 10 / 20 | 102k shares/day, $3.2B cap, beta 0.45 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 6 Nov 2026 (before the open), 21 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
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. | 32.51 | 35.30 | +8% | 74Good | $3.7B |
| KNTK Kinetik Holdings Inc. | 53.44 | 169.33 | +68% | 82Prime | $4.3B |
| LPG Dorian LPG Ltd. | 53.68 | 84.77 | +37% | 82Prime | $2.3B |
| GLNG Golar LNG Limited | 44.95 | 34.79 | -29% | 60Fair | $4.6B |
| PAGP Plains GP Holdings LP | 27.11 | 67.24 | +60% | 77Good | $5.4B |
| NGL NGL Energy Partners LP | 14.81 | 35.80 | +59% | 45Weak | $1.8B |
| GEL Genesis Energy, L.P. | 13.94 | 33.60 | +59% | 75Good | $1.7B |
| GLP Global Partners LP | 49.08 | 59.35 | +17% | 69Good | $1.7B |
| HESM Hess Midstream LP | 30.62 | 50.03 | +39% | 90Prime | $6.3B |
| TEN Tsakos Energy Navigation Limited | 53.71 | 67.21 | +20% | 70Good | $1.6B |
| PBT Permian Basin Royalty Trust | 34.60 | 8.17 | -324% | 42Weak | $1.6B |
| SOBO South Bow Corporation | 34.03 | 44.93 | +24% | 84Prime | $7.1B |
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Start free See the Sunday ScanQuestions about DKL
Is DKL undervalued right now?
No: at 55.94 the stock trades 13% above the GLS average fair value of 49.57 (data as of 16 Oct 2026). The margin of safety is negative.
What is the Wheel Score of DKL and what does it mean?
DKL scores 57 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for DKL?
49.57 per share as of 16 Oct 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), 21 days from the data date of 16 Oct 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 114 listed contracts with 8,565 open interest across all expiries and implied volatility of 37% 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.