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Side-by-side financial comparison of Delek US Holdings, Inc. (DK) and KeyCorp (KEY). Click either name above to swap in a different company.
Delek US Holdings, Inc. is the larger business by last-quarter revenue ($2.4B vs $2.0B, roughly 1.2× KeyCorp). KeyCorp runs the higher net margin — 25.4% vs 3.2%, a 22.2% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 2.3%). KeyCorp produced more free cash flow last quarter ($2.1B vs $382.8M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% CAGR vs -11.9%).
Delek US Holdings, Inc. is an oil refining, logistics and biofuels company founded in 2001 and headquartered in Brentwood, Tennessee.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
DK vs KEY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.4B | $2.0B |
| Net Profit | $78.3M | $510.0M |
| Gross Margin | 9.3% | — |
| Operating Margin | 6.8% | 32.3% |
| Net Margin | 3.2% | 25.4% |
| Revenue YoY | 2.3% | 131.8% |
| Net Profit YoY | 118.9% | 309.0% |
| EPS (diluted) | $1.23 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.4B | $2.0B | ||
| Q3 25 | $2.9B | $1.9B | ||
| Q2 25 | $2.8B | $1.8B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.4B | $865.0M | ||
| Q3 24 | $3.0B | $695.0M | ||
| Q2 24 | $3.3B | $1.5B | ||
| Q1 24 | $3.1B | $1.5B |
| Q4 25 | $78.3M | $510.0M | ||
| Q3 25 | $178.0M | $489.0M | ||
| Q2 25 | $-106.4M | $425.0M | ||
| Q1 25 | $-172.7M | $405.0M | ||
| Q4 24 | $-413.8M | $-244.0M | ||
| Q3 24 | $-76.8M | $-410.0M | ||
| Q2 24 | $-37.2M | $274.0M | ||
| Q1 24 | $-32.6M | $219.0M |
| Q4 25 | 9.3% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | -5.7% | — | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | 6.8% | 32.3% | ||
| Q3 25 | 10.2% | 31.8% | ||
| Q2 25 | -1.2% | 29.3% | ||
| Q1 25 | -4.8% | 29.0% | ||
| Q4 24 | -17.0% | -92.6% | ||
| Q3 24 | -4.0% | -72.8% | ||
| Q2 24 | 0.1% | 22.0% | ||
| Q1 24 | 0.9% | 18.1% |
| Q4 25 | 3.2% | 25.4% | ||
| Q3 25 | 6.2% | 25.8% | ||
| Q2 25 | -3.8% | 23.1% | ||
| Q1 25 | -6.5% | 22.8% | ||
| Q4 24 | -17.4% | -54.7% | ||
| Q3 24 | -2.5% | -59.0% | ||
| Q2 24 | -1.1% | 18.0% | ||
| Q1 24 | -1.0% | 14.3% |
| Q4 25 | $1.23 | $0.43 | ||
| Q3 25 | $2.93 | $0.41 | ||
| Q2 25 | $-1.76 | $0.35 | ||
| Q1 25 | $-2.78 | $0.33 | ||
| Q4 24 | $-6.48 | $-0.30 | ||
| Q3 24 | $-1.20 | $-0.47 | ||
| Q2 24 | $-0.58 | $0.25 | ||
| Q1 24 | $-0.51 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $625.8M | $10.2B |
| Total DebtLower is stronger | $3.2B | $9.9B |
| Stockholders' EquityBook value | $547.3M | $20.4B |
| Total Assets | $6.8B | $184.4B |
| Debt / EquityLower = less leverage | 5.91× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $625.8M | $10.2B | ||
| Q3 25 | $630.9M | $13.3B | ||
| Q2 25 | $615.5M | $11.6B | ||
| Q1 25 | $623.8M | $15.3B | ||
| Q4 24 | $735.6M | $17.5B | ||
| Q3 24 | $1.0B | $22.8B | ||
| Q2 24 | $657.9M | $15.5B | ||
| Q1 24 | $753.4M | $13.2B |
| Q4 25 | $3.2B | $9.9B | ||
| Q3 25 | $3.2B | $10.9B | ||
| Q2 25 | $3.1B | $12.1B | ||
| Q1 25 | $3.0B | $12.4B | ||
| Q4 24 | $2.8B | $12.1B | ||
| Q3 24 | $2.8B | $15.7B | ||
| Q2 24 | $2.5B | $16.9B | ||
| Q1 24 | $2.5B | $20.8B |
| Q4 25 | $547.3M | $20.4B | ||
| Q3 25 | $444.8M | $20.1B | ||
| Q2 25 | $294.9M | $19.5B | ||
| Q1 25 | $429.4M | $19.0B | ||
| Q4 24 | $575.2M | $18.2B | ||
| Q3 24 | $875.4M | $16.9B | ||
| Q2 24 | $982.8M | $14.8B | ||
| Q1 24 | $1.0B | $14.5B |
| Q4 25 | $6.8B | $184.4B | ||
| Q3 25 | $7.1B | $187.4B | ||
| Q2 25 | $7.1B | $185.5B | ||
| Q1 25 | $6.9B | $188.7B | ||
| Q4 24 | $6.7B | $187.2B | ||
| Q3 24 | $7.0B | $189.8B | ||
| Q2 24 | $6.9B | $187.4B | ||
| Q1 24 | $7.2B | $187.5B |
| Q4 25 | 5.91× | 0.49× | ||
| Q3 25 | 7.14× | 0.54× | ||
| Q2 25 | 10.51× | 0.62× | ||
| Q1 25 | 7.07× | 0.65× | ||
| Q4 24 | 4.81× | 0.67× | ||
| Q3 24 | 3.19× | 0.93× | ||
| Q2 24 | 2.50× | 1.14× | ||
| Q1 24 | 2.41× | 1.43× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $502.8M | $2.2B |
| Free Cash FlowOCF − Capex | $382.8M | $2.1B |
| FCF MarginFCF / Revenue | 15.8% | 104.8% |
| Capex IntensityCapex / Revenue | 4.9% | 5.3% |
| Cash ConversionOCF / Net Profit | 6.42× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $6.3M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $502.8M | $2.2B | ||
| Q3 25 | $44.0M | $396.0M | ||
| Q2 25 | $51.4M | $1.2B | ||
| Q1 25 | $-62.4M | $-140.0M | ||
| Q4 24 | $-163.5M | $664.0M | ||
| Q3 24 | $-21.6M | $-1.2B | ||
| Q2 24 | $-48.4M | $-217.0M | ||
| Q1 24 | $166.7M | $359.0M |
| Q4 25 | $382.8M | $2.1B | ||
| Q3 25 | $-64.0M | $367.0M | ||
| Q2 25 | $-114.4M | $1.2B | ||
| Q1 25 | $-198.1M | $-150.0M | ||
| Q4 24 | $-354.0M | $599.0M | ||
| Q3 24 | $-140.6M | $-1.2B | ||
| Q2 24 | $-128.3M | $-230.0M | ||
| Q1 24 | $128.4M | $347.0M |
| Q4 25 | 15.8% | 104.8% | ||
| Q3 25 | -2.2% | 19.4% | ||
| Q2 25 | -4.1% | 65.8% | ||
| Q1 25 | -7.5% | -8.5% | ||
| Q4 24 | -14.9% | 69.2% | ||
| Q3 24 | -4.6% | -175.8% | ||
| Q2 24 | -3.9% | -15.1% | ||
| Q1 24 | 4.1% | 22.6% |
| Q4 25 | 4.9% | 5.3% | ||
| Q3 25 | 3.7% | 1.5% | ||
| Q2 25 | 6.0% | 1.3% | ||
| Q1 25 | 5.1% | 0.6% | ||
| Q4 24 | 8.0% | 7.5% | ||
| Q3 24 | 3.9% | 2.4% | ||
| Q2 24 | 2.4% | 0.9% | ||
| Q1 24 | 1.2% | 0.8% |
| Q4 25 | 6.42× | 4.33× | ||
| Q3 25 | 0.25× | 0.81× | ||
| Q2 25 | — | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DK
| Refining | $2.2B | 91% |
| Other | $173.0M | 7% |
| Gravity Water Intermediate Holdings LLC Gravity | $22.5M | 1% |
| Related Party | $20.8M | 1% |
| Logistics | $1.3M | 0% |
KEY
Segment breakdown not available.
