Delek Logistics Partners, LP
deleklogistics.comHow Do They Make Money?
Sources
-
10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by reportable segment ↗
Revenue, FY2025
$1B
Sources
-
10-K for FY2025, filed Feb 27, 2026
$1B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Gathering and Processing
|
49%
FY2022: 29%
|
Gathering and Processing, FY2025
$498.1M Sources
|
|
Wholesale Marketing and Terminalling
|
41%
FY2022: 57%
|
Wholesale Marketing and Terminalling, FY2025
$417.6M Sources
|
|
Storage and Transportation
|
9.6%
FY2022: 14%
|
Storage and Transportation, FY2025
$97.6M Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 17 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$30.6M.
Operating income, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
$181.8MView ↗
▼ −10%
vs FY2024 ($202.8M, 22%)
Net income, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
$176.5MView ↗
▲ +24%
vs FY2024 ($142.7M, 15%)
Free cash flow, FY2025
Sources
10-K for FY2025, filed Feb 27, 2026
−$30.6MView ↗
▼ Now a loss
vs FY2024 ($77.3M, 8%)
How Are They Changing?
Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Gathering and Processing share of revenue
vs 47.8% in Q2 FY2025
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 45% in 4 years, from $700.9M in FY2021 to $1B in FY2025, about 10% a year.
Revenue over time
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
$2B$1B$0
$413.3M
$305.4M
$588.9M
$371.1M
$505.7M
$364.7M
$451.5M
$498.1M
$417.6M
100%50%0%
23%
59%
18%
29%
57%
36%
50%
14%
39%
48%
49%
41%
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