Delek us Holdings, Inc. (DK): Taurus’s case theory

We encountered a Saudi thesis On Delek Us Holdings, Inc. On Substack’s Research’s Research. In this article, we will summarize the bull thesis on DK. Delek Us Holdings, Inc. At 24.47 dollars from August 22nd^{The second abbreviation}. DK’s Thurly and Forward P/E 4.61 and 20.33, respectively according to Yahoo’s funding.

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Delek US Holdings (DK) is an integrated energy refinery and logistics operator with four internal refineries across the Texas, Arkansas and Louisiana, and the majority share in Delek Logistics (DKL), which runs more than 1500 miles of tubes and limbs and raises 10 %. The DKL ownership value in DKL is $ 1.46 billion, for its institutional value of $ 1.8 billion, which means a bleak implicit of only $ 343 million. The administration estimates that EBITDA in the middle of the session at 343-493 million dollars, including saving costs, while independent estimates indicate $ 333 million except for it, which means that a cup is trading at only 1.0X EV/eBitda when retracting the DKL share.

DK also has excellent offers for SMS (SRES) that covers 2016-2024, which amounts to $ 1.8 billion; Even a 50 % relief means $ 900 million in payments, almost three times the value of the current heel. The court files indicate that the Environmental Protection Agency is preparing to issue decisions soon, and provides a great catalyst. Meanwhile, DK generates about $ 140 million in the cycle -free cash flow annually after DKL distributions, with the management indicating that this may reach $ 300 million, including cost discounts.

In a basic state without SRES, the fair value by the fourth quarter of 2026 is estimated at $ 42.2 per share, or 70 % of the upward trend, based on FCF revenue by 12 % and 3.5X in the middle of the EBITDA cycle, compared to 6X. During the next six quarters, DK is expected to reduce the stocks and redeploy, leading to the leadership of the leverage less than 1.0X. If Sre Relift is realized, the fair value rises to $ 58, or +135 %, with an additional increase in debt reduction, re -purchases, and higher profits. This combination of reduced value, structural simplicity, and organizational stimuli makes DK a very special position.

Previously, we covered a Saudi thesis On Delek Us Holdings, Inc. (DK) by Matt Lindsay in May 2025, which highlighted the DK grade through its share in Delek Logistics and the value of SOTP $ 47. The company’s shares have been estimated at about 36 % since our coverage with improving implementation. This thesis still exists, as it shares long -term research in a similar point of view, but it stresses stimuli of small buttock exemptions and evaluating heels.

Delek us Holdings, Inc. It is not listed in our list from 30 shares more popular among hedge boxes. According to our database, 21 DK hedgeboards wallet held at the end of the first quarter, which was 23 in the previous quarter. Although we acknowledge the DK capabilities as an investment, we believe that some of the artificial intelligence shares provide greater potential in the upward direction and carry less risks on the negative side. If you are looking for a stock of artificial intelligence with less than very apprecia The best inventory of artificial intelligence in the short term.