$Delek Logistics Partners LP (DKL.US)$Over the past five yea...
$Delek Logistics Partners LP(DKL.US$Over the past five years, revenue has fluctuated from 540 million to 700 million, with an average growth rate of 9.2%. Operating profit increased from 88 million to 191 million during the same period, an average growth rate of 20%, and net profit was similar.
Revenue surged 50% in the first three quarters of 2022, operating profit increased by only 5% due to too rapid 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. The interest burden is very heavy.
Over the past 5 years, the balance ratio increased from 106% to 111%, and fell slightly to 107% in Q3 2022.
The balance sheet shows a long-term loan of 900 million dollars, 5.5 times the net profit of 2021. In other words, based on that year's profit calculation, it will take 5.5 years to pay off the debt. The current price-earnings ratio is 12.8 times, which is not very attractive.
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