$Delek Logistics Partners LP (DKL.US)$Revenue fluctuated fro...
$Delek Logistics Partners LP (DKL.US)$Revenue fluctuated from 540 million to 700 million over the past 5 years, with an average growth rate of 9.2%. Operating profit increased from 88 million to 191 million during the same period, with an average growth rate of 20%. Net profit was also similar.
In the first three quarters of 2022, revenue surged 50%. Operating profit increased by only 5% due to excessive cost growth, net profit fell 5.5%, and profit growth pressure was high.
The income statement shows that interest expenses reached 26% of operating profit in 2021 and 36% in the first three quarters of 2022, and the interest burden is very heavy.
The balance ratio has increased from 106% to 111% over the past 5 years, and declined slightly to 107% in Q3 2022.
The balance sheet shows that long-term loans of 900 million yuan are 5.5 times the net profit in 2021, which means that it will take 5.5 years to pay off the debt based on current year's profit. The current price-earnings ratio is 12.8 times, which is not very attractive.
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