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Side-by-side financial comparison of Delek US Holdings, Inc. (DK) and PBF Energy Inc. (PBF). Click either name above to swap in a different company.
PBF Energy Inc. is the larger business by last-quarter revenue ($7.1B vs $2.4B, roughly 2.9× Delek US Holdings, Inc.). Delek US Holdings, Inc. runs the higher net margin — 3.2% vs 1.1%, a 2.1% gap on every dollar of revenue. On growth, Delek US Holdings, Inc. posted the faster year-over-year revenue change (2.3% vs -2.9%). Delek US Holdings, Inc. produced more free cash flow last quarter ($382.8M vs $77.0M). Over the past eight quarters, PBF Energy Inc.'s revenue compounded faster (-9.1% CAGR vs -11.9%).
Delek US Holdings, Inc. is an oil refining, logistics and biofuels company founded in 2001 and headquartered in Brentwood, Tennessee.
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diese...
DK vs PBF — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.4B | $7.1B |
| Net Profit | $78.3M | $78.4M |
| Gross Margin | 9.3% | -1.8% |
| Operating Margin | 6.8% | 1.8% |
| Net Margin | 3.2% | 1.1% |
| Revenue YoY | 2.3% | -2.9% |
| Net Profit YoY | 118.9% | 127.1% |
| EPS (diluted) | $1.23 | $0.74 |
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 | $7.1B | ||
| Q3 25 | $2.9B | $7.7B | ||
| Q2 25 | $2.8B | $7.5B | ||
| Q1 25 | $2.6B | $7.1B | ||
| Q4 24 | $2.4B | $7.4B | ||
| Q3 24 | $3.0B | $8.4B | ||
| Q2 24 | $3.3B | $8.7B | ||
| Q1 24 | $3.1B | $8.6B |
| Q4 25 | $78.3M | $78.4M | ||
| Q3 25 | $178.0M | $170.1M | ||
| Q2 25 | $-106.4M | $-5.2M | ||
| Q1 25 | $-172.7M | $-401.8M | ||
| Q4 24 | $-413.8M | $-289.3M | ||
| Q3 24 | $-76.8M | $-285.9M | ||
| Q2 24 | $-37.2M | $-65.2M | ||
| Q1 24 | $-32.6M | $106.6M |
| Q4 25 | 9.3% | -1.8% | ||
| Q3 25 | 13.8% | 0.5% | ||
| Q2 25 | 1.9% | -0.8% | ||
| Q1 25 | -2.4% | -5.9% | ||
| Q4 24 | -5.7% | -4.2% | ||
| Q3 24 | -0.7% | -3.4% | ||
| Q2 24 | 0.5% | 0.1% | ||
| Q1 24 | 3.0% | 2.5% |
| Q4 25 | 6.8% | 1.8% | ||
| Q3 25 | 10.2% | 3.7% | ||
| Q2 25 | -1.2% | 0.6% | ||
| Q1 25 | -4.8% | -7.2% | ||
| Q4 24 | -17.0% | -5.2% | ||
| Q3 24 | -4.0% | -4.6% | ||
| Q2 24 | 0.1% | -0.9% | ||
| Q1 24 | 0.9% | 1.7% |
| Q4 25 | 3.2% | 1.1% | ||
| Q3 25 | 6.2% | 2.2% | ||
| Q2 25 | -3.8% | -0.1% | ||
| Q1 25 | -6.5% | -5.7% | ||
| Q4 24 | -17.4% | -3.9% | ||
| Q3 24 | -2.5% | -3.4% | ||
| Q2 24 | -1.1% | -0.7% | ||
| Q1 24 | -1.0% | 1.2% |
| Q4 25 | $1.23 | $0.74 | ||
| Q3 25 | $2.93 | $1.45 | ||
| Q2 25 | $-1.76 | $-0.05 | ||
| Q1 25 | $-2.78 | $-3.53 | ||
| Q4 24 | $-6.48 | $-2.41 | ||
| Q3 24 | $-1.20 | $-2.49 | ||
| Q2 24 | $-0.58 | $-0.56 | ||
| Q1 24 | $-0.51 | $0.86 |
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 | $527.9M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $547.3M | $5.3B |
| Total Assets | $6.8B | $13.0B |
| Debt / EquityLower = less leverage | 5.91× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $625.8M | $527.9M | ||
| Q3 25 | $630.9M | $482.0M | ||
| Q2 25 | $615.5M | $590.7M | ||
| Q1 25 | $623.8M | $468.6M | ||
| Q4 24 | $735.6M | $536.1M | ||
| Q3 24 | $1.0B | $976.7M | ||
| Q2 24 | $657.9M | $1.4B | ||
| Q1 24 | $753.4M | $1.4B |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
| Q4 25 | $547.3M | $5.3B | ||
| Q3 25 | $444.8M | $5.2B | ||
| Q2 25 | $294.9M | $5.1B | ||
| Q1 25 | $429.4M | $5.1B | ||
| Q4 24 | $575.2M | $5.5B | ||
| Q3 24 | $875.4M | $5.9B | ||
| Q2 24 | $982.8M | $6.3B | ||
| Q1 24 | $1.0B | $6.5B |
| Q4 25 | $6.8B | $13.0B | ||
| Q3 25 | $7.1B | $13.0B | ||
| Q2 25 | $7.1B | $13.0B | ||
| Q1 25 | $6.9B | $13.0B | ||
| Q4 24 | $6.7B | $12.7B | ||
| Q3 24 | $7.0B | $13.1B | ||
| Q2 24 | $6.9B | $14.1B | ||
| Q1 24 | $7.2B | $13.8B |
| Q4 25 | 5.91× | — | ||
| Q3 25 | 7.14× | — | ||
| Q2 25 | 10.51× | — | ||
| Q1 25 | 7.07× | — | ||
| Q4 24 | 4.81× | — | ||
| Q3 24 | 3.19× | — | ||
| Q2 24 | 2.50× | — | ||
| Q1 24 | 2.41× | — |
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 | $366.6M |
| Free Cash FlowOCF − Capex | $382.8M | $77.0M |
| FCF MarginFCF / Revenue | 15.8% | 1.1% |
| Capex IntensityCapex / Revenue | 4.9% | 4.1% |
| Cash ConversionOCF / Net Profit | 6.42× | 4.68× |
| TTM Free Cash FlowTrailing 4 quarters | $6.3M | $-783.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $502.8M | $366.6M | ||
| Q3 25 | $44.0M | $25.7M | ||
| Q2 25 | $51.4M | $191.1M | ||
| Q1 25 | $-62.4M | $-661.4M | ||
| Q4 24 | $-163.5M | $-329.7M | ||
| Q3 24 | $-21.6M | $-68.0M | ||
| Q2 24 | $-48.4M | $425.3M | ||
| Q1 24 | $166.7M | $15.8M |
| Q4 25 | $382.8M | $77.0M | ||
| Q3 25 | $-64.0M | $-122.8M | ||
| Q2 25 | $-114.4M | $35.0M | ||
| Q1 25 | $-198.1M | $-772.4M | ||
| Q4 24 | $-354.0M | $-425.7M | ||
| Q3 24 | $-140.6M | $-169.8M | ||
| Q2 24 | $-128.3M | $371.8M | ||
| Q1 24 | $128.4M | $-123.8M |
| Q4 25 | 15.8% | 1.1% | ||
| Q3 25 | -2.2% | -1.6% | ||
| Q2 25 | -4.1% | 0.5% | ||
| Q1 25 | -7.5% | -10.9% | ||
| Q4 24 | -14.9% | -5.8% | ||
| Q3 24 | -4.6% | -2.0% | ||
| Q2 24 | -3.9% | 4.3% | ||
| Q1 24 | 4.1% | -1.4% |
| Q4 25 | 4.9% | 4.1% | ||
| Q3 25 | 3.7% | 1.9% | ||
| Q2 25 | 6.0% | 2.1% | ||
| Q1 25 | 5.1% | 1.6% | ||
| Q4 24 | 8.0% | 1.3% | ||
| Q3 24 | 3.9% | 1.2% | ||
| Q2 24 | 2.4% | 0.6% | ||
| Q1 24 | 1.2% | 1.6% |
| Q4 25 | 6.42× | 4.68× | ||
| Q3 25 | 0.25× | 0.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.15× |
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% |
PBF
| Gasoline And Distillate | $6.4B | 89% |
| Asphaltand Residual Oil | $283.6M | 4% |
| Other | $149.4M | 2% |
| Chemicals | $145.1M | 2% |
| Logistics Group | $93.5M | 1% |
| Lubricants | $81.9M | 1% |
