DKL vs PAGP
Delek Logistics Partners, LP and Plains GP Holdings LP, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DKL | PAGP |
|---|---|---|
| Revenue | $1.0B | $44.3B |
| Net income | $176.5M | $260.0M |
| Gross margin | 21.2% | 8.7% |
| Net margin | 17.4% | 3.8% |
| Return on equity | · | · |
| Diluted EPS | · | · |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $-30.6M | $2.3B |
| Equity | · | · |
| Net debt / equity | · | · |
| Current ratio | 1.12× | 0.96× |
| Revenue CAGR 5y | 12.5% | 13.7% |
| Profit CAGR 5y | 2.1% | · |
PAGP bills 43.7× the revenue of DKL, and DKL keeps more of each dollar of revenue as profit (17.4% against 3.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | DKL | PAGP |
|---|---|---|
| FY2025 | $1.0B | $44.3B |
| FY2024 | $940.6M | $48.9B |
| FY2023 | $1.0B | $47.3B |
| FY2022 | $1.0B | $57.3B |
| FY2021 | $700.9M | $42.1B |
| FY2020 | $563.4M | $23.3B |
| FY2019 | $584.0M | $33.7B |
| FY2018 | $657.6M | $34.1B |
| FY2017 | $538.1M | $26.2B |
| FY2016 | $448.1M | $20.2B |
Bottom line
| Fiscal year | DKL | PAGP |
|---|---|---|
| FY2025 | $176.5M | $260.0M |
| FY2024 | $142.7M | $103.0M |
| FY2023 | $126.2M | $198.0M |
| FY2022 | $159.1M | $168.0M |
| FY2021 | $164.8M | $60.0M |
| FY2020 | $159.3M | $-568.0M |
| FY2019 | $96.7M | $331.0M |
| FY2018 | $90.2M | $334.0M |
| FY2017 | $69.4M | $-731.0M |
| FY2016 | $62.8M | $94.0M |
15 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$43,248,677,000 | PAGP |
| FY2024 | −$47,948,364,000 | PAGP |
| FY2023 | −$46,315,591,000 | PAGP |
| FY2022 | −$56,305,593,000 | PAGP |
| FY2021 | −$41,377,098,000 | PAGP |
| FY2020 | −$22,726,582,000 | PAGP |
| FY2019 | −$33,085,008,000 | PAGP |
| FY2018 | −$33,397,391,000 | PAGP |
| FY2017 | −$25,684,925,000 | PAGP |
| FY2016 | −$19,733,941,000 | PAGP |
| FY2015 | −$22,562,331,000 | PAGP |
| FY2014 | −$42,622,747,000 | PAGP |
| FY2013 | −$41,341,572,000 | PAGP |
| FY2012 | −$36,774,414,000 | PAGP |
| FY2011 | −$33,530,921,000 | PAGP |
PAGP has reported the higher revenue in every one of these 15 fiscal years. The gap has widened since the earliest year compared.
15 of 16 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +13.6 pp | DKL |
| FY2024 | +13.0 pp | DKL |
| FY2023 | +9.4 pp | DKL |
| FY2021 | +22.1 pp | DKL |
| FY2020 | +38.7 pp | DKL |
| FY2019 | +10.4 pp | DKL |
| FY2018 | +7.5 pp | DKL |
| FY2017 | +13.1 pp | DKL |
| FY2016 | +10.7 pp | DKL |
| FY2015 | +7.7 pp | DKL |
DKL has kept the higher net margin in every one of these 10 fiscal years.
10 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DKL's net margin has been more volatile than PAGP's over the 10 comparable fiscal years — 5.1 percentage points of standard deviation against 4.5.
10 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
DKL led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 11 comparable fiscal years — a year missing data on either side is not counted.