Intrinsic value of Delek US Holdings - DK

Previous Close

$25.33

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$25.33

 
Intrinsic value premium content
 
Up/down potential premium content
 
Rating premium content
 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -12.21
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4,198
  4,282
  4,380
  4,493
  4,619
  4,759
  4,913
  5,080
  5,262
  5,457
  5,666
  5,890
  6,129
  6,384
  6,654
  6,941
  7,245
  7,567
  7,908
  8,268
  8,648
  9,048
  9,471
  9,917
  10,386
  10,881
  11,401
  11,949
  12,526
  13,133
  13,771
Variable operating expenses, $m
 
  1,623
  1,660
  1,703
  1,751
  1,804
  1,862
  1,925
  1,994
  2,068
  2,147
  2,231
  2,321
  2,418
  2,520
  2,629
  2,744
  2,866
  2,995
  3,131
  3,275
  3,427
  3,587
  3,756
  3,933
  4,121
  4,318
  4,525
  4,744
  4,973
  5,215
Fixed operating expenses, $m
 
  3,050
  3,127
  3,205
  3,285
  3,367
  3,451
  3,538
  3,626
  3,717
  3,810
  3,905
  4,002
  4,102
  4,205
  4,310
  4,418
  4,528
  4,642
  4,758
  4,877
  4,998
  5,123
  5,251
  5,383
  5,517
  5,655
  5,797
  5,942
  6,090
  6,242
Total operating expenses, $m
  4,492
  4,673
  4,787
  4,908
  5,036
  5,171
  5,313
  5,463
  5,620
  5,785
  5,957
  6,136
  6,323
  6,520
  6,725
  6,939
  7,162
  7,394
  7,637
  7,889
  8,152
  8,425
  8,710
  9,007
  9,316
  9,638
  9,973
  10,322
  10,686
  11,063
  11,457
Operating income, $m
  -295
  -391
  -406
  -415
  -416
  -411
  -400
  -382
  -358
  -328
  -290
  -245
  -194
  -136
  -71
  2
  84
  173
  272
  379
  496
  623
  761
  910
  1,070
  1,243
  1,428
  1,627
  1,841
  2,069
  2,313
EBITDA, $m
  -179
  -255
  -267
  -271
  -269
  -260
  -244
  -221
  -191
  -154
  -110
  -59
  -1
  65
  139
  222
  313
  412
  521
  640
  769
  909
  1,060
  1,223
  1,398
  1,586
  1,788
  2,005
  2,236
  2,484
  2,748
Interest expense (income), $m
  52
  45
  47
  50
  53
  56
  60
  64
  69
  74
  79
  85
  91
  98
  105
  112
  120
  128
  137
  146
  156
  166
  177
  189
  201
  214
  227
  241
  256
  272
  289
Earnings before tax, $m
  -391
  -436
  -454
  -464
  -469
  -468
  -460
  -447
  -427
  -402
  -370
  -330
  -285
  -234
  -175
  -110
  -36
  45
  135
  233
  340
  457
  584
  721
  869
  1,029
  1,201
  1,386
  1,584
  1,797
  2,025
Tax expense, $m
  -171
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  12
  36
  63
  92
  123
  158
  195
  235
  278
  324
  374
  428
  485
  547
Net income, $m
  -154
  -436
  -454
  -464
  -469
  -468
  -460
  -447
  -427
  -402
  -370
  -330
  -285
  -234
  -175
  -110
  -36
  33
  98
  170
  248
  334
  426
  526
  635
  751
  877
  1,012
  1,157
  1,312
  1,478

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  689
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,980
  2,342
  2,396
  2,458
  2,527
  2,604
  2,688
  2,779
  2,878
  2,985
  3,100
  3,222
  3,353
  3,492
  3,640
  3,797
  3,964
  4,140
  4,326
  4,523
  4,731
  4,950
  5,181
  5,425
  5,682
  5,952
  6,237
  6,537
  6,852
  7,184
  7,533
Adjusted assets (=assets-cash), $m
  2,291
  2,342
  2,396
  2,458
  2,527
  2,604
  2,688
  2,779
  2,878
  2,985
  3,100
  3,222
  3,353
  3,492
  3,640
  3,797
  3,964
  4,140
  4,326
  4,523
  4,731
  4,950
  5,181
  5,425
  5,682
  5,952
  6,237
  6,537
  6,852
  7,184
  7,533
Revenue / Adjusted assets
  1.832
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
  1.828
Average production assets, $m
  1,168
  1,190
  1,218
  1,249
  1,284
  1,323
  1,366
  1,412
  1,463
  1,517
  1,575
  1,637
  1,704
  1,775
  1,850
  1,930
  2,014
  2,104
  2,198
  2,298
  2,404
  2,515
  2,633
  2,757
  2,887
  3,025
  3,170
  3,322
  3,482
  3,651
  3,828
Working capital, $m
  462
  -146
  -149
  -153
  -157
  -162
  -167
  -173
  -179
  -186
  -193
  -200
  -208
  -217
  -226
  -236
  -246
  -257
  -269
  -281
  -294
  -308
  -322
  -337
  -353
  -370
  -388
  -406
  -426
  -447
  -468
Total debt, $m
  833
  787
  831
  883
  940
  1,004
  1,073
  1,150
  1,232
  1,321
  1,416
  1,518
  1,626
  1,742
  1,865
  1,995
  2,134
  2,280
  2,435
  2,598
  2,771
  2,953
  3,146
  3,348
  3,562
  3,786
  4,023
  4,272
  4,534
  4,810
  5,100
Total liabilities, $m
  1,988
  1,947
  1,991
  2,043
  2,100
  2,164
  2,233
  2,310
  2,392
  2,481
  2,576
  2,678
  2,786
  2,902
  3,025
  3,155
  3,294
  3,440
  3,595
  3,758
  3,931
  4,113
  4,306
  4,508
  4,722
  4,946
  5,183
  5,432
  5,694
  5,970
  6,260
Total equity, $m
  992
  396
  405
  415
  427
  440
  454
  470
  486
  504
  524
  545
  567
  590
  615
  642
  670
  700
  731
  764
  799
  837
  876
  917
  960
  1,006
  1,054
  1,105
  1,158
  1,214
  1,273
Total liabilities and equity, $m
  2,980
  2,343
  2,396
  2,458
  2,527
  2,604
  2,687
  2,780
  2,878
  2,985
  3,100
  3,223
  3,353
  3,492
  3,640
  3,797
  3,964
  4,140
  4,326
  4,522
  4,730
  4,950
  5,182
  5,425
  5,682
  5,952
  6,237
  6,537
  6,852
  7,184
  7,533
Debt-to-equity ratio
  0.840
  1.990
  2.050
  2.120
  2.200
  2.280
  2.360
  2.450
  2.530
  2.620
  2.700
  2.790
  2.870
  2.950
  3.030
  3.110
  3.190
  3.260
  3.330
  3.400
  3.470
  3.530
  3.590
  3.650
  3.710
  3.760
  3.820
  3.870
  3.920
  3.960
  4.010
Adjusted equity ratio
  0.132
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169
  0.169

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -154
  -436
  -454
  -464
  -469
  -468
  -460
  -447
  -427
  -402
  -370
  -330
  -285
  -234
  -175
  -110
  -36
  33
  98
  170
  248
  334
  426
  526
  635
  751
  877
  1,012
  1,157
  1,312
  1,478
Depreciation, amort., depletion, $m
  116
  136
  140
  143
  147
  152
  156
  162
  167
  174
  180
  186
  194
  202
  210
  219
  229
  239
  250
  261
  273
  286
  299
  313
  328
  344
  360
  377
  396
  415
  435
Funds from operations, $m
  467
  -300
  -314
  -321
  -322
  -316
  -304
  -285
  -260
  -228
  -189
  -144
  -92
  -32
  35
  110
  193
  272
  348
  431
  522
  619
  725
  840
  963
  1,095
  1,237
  1,389
  1,552
  1,727
  1,913
Change in working capital, $m
  199
  -3
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
Cash from operations, $m
  268
  -333
  -311
  -317
  -318
  -311
  -299
  -279
  -254
  -221
  -182
  -137
  -84
  -24
  44
  120
  203
  283
  360
  443
  534
  633
  740
  855
  979
  1,112
  1,255
  1,408
  1,572
  1,747
  1,935
Maintenance CAPEX, $m
  0
  -133
  -135
  -138
  -142
  -146
  -150
  -155
  -160
  -166
  -172
  -179
  -186
  -194
  -202
  -210
  -219
  -229
  -239
  -250
  -261
  -273
  -286
  -299
  -313
  -328
  -344
  -360
  -377
  -396
  -415
New CAPEX, $m
  -47
  -23
  -27
  -31
  -35
  -39
  -43
  -47
  -50
  -54
  -58
  -62
  -66
  -71
  -75
  -80
  -85
  -90
  -95
  -100
  -106
  -111
  -118
  -124
  -131
  -137
  -145
  -152
  -160
  -169
  -177
Cash from investing activities, $m
  181
  -156
  -162
  -169
  -177
  -185
  -193
  -202
  -210
  -220
  -230
  -241
  -252
  -265
  -277
  -290
  -304
  -319
  -334
  -350
  -367
  -384
  -404
  -423
  -444
  -465
  -489
  -512
  -537
  -565
  -592
Free cash flow, $m
  449
  -489
  -473
  -487
  -495
  -496
  -492
  -481
  -464
  -442
  -413
  -378
  -336
  -288
  -233
  -170
  -101
  -35
  26
  94
  168
  248
  336
  432
  535
  646
  766
  895
  1,034
  1,183
  1,342
Issuance/(repayment) of debt, $m
  -24
  38
  45
  51
  57
  64
  70
  76
  82
  89
  95
  102
  109
  116
  123
  130
  138
  146
  155
  164
  173
  182
  192
  203
  213
  225
  237
  249
  262
  276
  290
Issuance/(repurchase) of shares, $m
  -6
  0
  438
  446
  449
  446
  436
  420
  399
  371
  337
  297
  250
  196
  135
  67
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -24
  38
  483
  497
  506
  510
  506
  496
  481
  460
  432
  399
  359
  312
  258
  197
  138
  146
  155
  164
  173
  182
  192
  203
  213
  225
  237
  249
  262
  276
  290
Total cash flow (excl. dividends), $m
  425
  -451
  -428
  -436
  -437
  -433
  -422
  -405
  -382
  -353
  -318
  -276
  -228
  -172
  -110
  -40
  38
  111
  181
  257
  340
  431
  529
  634
  748
  871
  1,003
  1,144
  1,296
  1,459
  1,632
Retained Cash Flow (-), $m
  161
  -9
  -9
  -10
  -12
  -13
  -14
  -15
  -17
  -18
  -19
  -21
  -22
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -35
  -37
  -39
  -41
  -43
  -46
  -48
  -51
  -53
  -56
  -59
Prev. year cash balance distribution, $m
 
  605
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  145
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  9
  81
  149
  224
  305
  394
  489
  593
  705
  825
  955
  1,094
  1,243
  1,403
  1,573
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  139
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  2
  18
  28
  34
  39
  41
  41
  39
  36
  32
  28
  23
  19
  15
  12
Current shareholders' claim on cash, %
  100
  100.0
  59.9
  35.9
  21.7
  13.3
  8.3
  5.3
  3.5
  2.4
  1.7
  1.3
  1.0
  0.8
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7
  0.7

Delek US Holdings, Inc. operates as an integrated energy company that operates in petroleum refining, wholesale distribution, and convenience store retailing businesses. The company operates in three segments: Refining, Logistics, and Retail. The Refining segment owns and operates two refineries in Tyler, Texas, and El Dorado, Arkansas; and produces various petroleum-based products used in transportation and industrial markets. This segment offers a range of products, such as gasoline, diesel, jet fuels, liquefied petroleum gas, and natural gas liquids, as well as biodiesel blended products. The Logistics segment gathers, transports, and stores crude oil and intermediate products, as well as markets, distributes, transports, and stores refined products. It also offers crude oil and refined product transportation services; terminalling; and wholesale marketing services to third parties in Texas, Tennessee, and Arkansas, as well as markets light products using third-party terminals. This segment owns approximately 400 miles of crude oil transportation pipelines, 245 miles of active refined product pipelines, 600-mile crude oil gathering system, and associated crude oil storage tanks with an aggregate of approximately 8.5 million barrels of active shell capacity. The Retail segment markets gasoline, diesel, and other refined petroleum products, as well as convenience merchandise. As of December 31, 2015, this segment operated a network of approximately 358 company-operated convenience store locations under the MAPCO Express, MAPCO Mart, Discount Food Mart, Fast Food and Fuel, East Coast, Delta Express, and Favorite Markets brands. The company serves oil companies, independent refiners and marketers, jobbers, distributors, utility and transportation companies, independent retail fuel operators, and the United States government. Delek US Holdings, Inc. was founded in 2001 and is headquartered in Brentwood, Tennessee.

FINANCIAL RATIOS  of  Delek US Holdings (DK)

Valuation Ratios
P/E Ratio -10.2
Price to Sales 0.4
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 5.9
Price to Free Cash Flow 7.1
Growth Rates
Sales Growth Rate -12.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -78.7%
Cap. Spend. - 3 Yr. Gr. Rate -25.9%
Financial Strength
Quick Ratio 8
Current Ratio 0.1
LT Debt to Equity 75.5%
Total Debt to Equity 84%
Interest Coverage -7
Management Effectiveness
Return On Assets -4%
Ret/ On Assets - 3 Yr. Avg. 2.4%
Return On Total Capital -8.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2.2%
Return On Equity -14.4%
Return On Equity - 3 Yr. Avg. 2.7%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 8.1%
Gross Margin - 3 Yr. Avg. 10.9%
EBITDA Margin -5.3%
EBITDA Margin - 3 Yr. Avg. 1.6%
Operating Margin -7%
Oper. Margin - 3 Yr. Avg. -0.4%
Pre-Tax Margin -9.3%
Pre-Tax Margin - 3 Yr. Avg. -1.6%
Net Profit Margin -3.7%
Net Profit Margin - 3 Yr. Avg. -0.3%
Effective Tax Rate 43.7%
Eff/ Tax Rate - 3 Yr. Avg. -0.5%
Payout Ratio -24.7%

DK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DK stock intrinsic value calculation we used $4198 million for the last fiscal year's total revenue generated by Delek US Holdings. The default revenue input number comes from 2016 income statement of Delek US Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DK stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DK is calculated based on our internal credit rating of Delek US Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Delek US Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DK stock the variable cost ratio is equal to 37.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2976 million in the base year in the intrinsic value calculation for DK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Delek US Holdings.

Corporate tax rate of 27% is the nominal tax rate for Delek US Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DK are equal to 27.8%.

Life of production assets of 8.8 years is the average useful life of capital assets used in Delek US Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DK is equal to -3.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $992 million for Delek US Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 64.619 million for Delek US Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Delek US Holdings at the current share price and the inputted number of shares is $1.6 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
PSX Phillips 66 78.91 prem.  prem.
VLO Valero Energy 64.82 prem.  prem.
HFC HollyFrontier 26.63 prem.  prem.
CLMT Calumet Specia 4.10 prem.  prem.
PBF PBF Energy 21.75 prem.  prem.
ALJ Alon USA Energ 12.79 prem.  prem.
MPC Marathon Petro 51.17 prem.  prem.
TSO Tesoro 91.06 prem.  prem.

COMPANY NEWS

▶ How to Uncover Institutional Buying   [Jun-20-17 05:37PM  Zacks]
▶ Your Best Stocks Will Be in the Best Industries   [Jun-14-17 05:45PM  Zacks]
▶ These Energy Stocks Were the Top Gainers Last Week   [Jun-05-17 04:19PM  Market Realist]
▶ Oil Production Cut Extended to March 2018   [May-26-17 12:38PM  GuruFocus.com]
▶ Has Short Interest in Marathon Petroleum Fallen?   [May-23-17 09:06AM  Market Realist]
▶ Delek US Holdings beats 1Q profit forecasts   [May-08-17 05:01PM  Associated Press]
▶ Better Buy: Clean Energy Fuels Corp. vs. Delek US Holdings   [Feb-22-17 10:37AM  at Motley Fool]
Stock chart of DK Financial statements of DK Annual reports of DK
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.