DELEK US HOLDINGS, INC. vs MARATHON PETROLEUM CORPORATION, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
10.57 is the figure that defines Delek: turns of debt to equity, a small distressed refiner whose balance sheet is stretched to a degree that makes every other ratio suspect, its negative 6.8% operating margin the honest read. Marathon Petroleum, the pure-refiner giant, runs 0.09 turns and earns a 19.8% return on equity (buyback-flattered, but real earnings behind it). The scale gap is 26-fold, $74.9B against $2.9B. Marathon trades at 16.7 times earnings with a 1.5% dividend; Delek has no usable P/E and pays 2.1% from a balance sheet that can barely afford it. The pair is refining's top and bottom: a cash-returning major against a leveraged survivor, and the leverage line tells you which is which before any margin does.
Comparison updated 2026-07-11.
| Metric | DK | MPC |
|---|---|---|
| Price | $47.83 | $253.99 |
| Market cap | $2.9B | $74.9B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -1.0% | -3.9% |
| P/E | — | 16.7 |
| P/B | 9.54 | 3.20 |
| P/S | 0.27 | 0.55 |
| EV/EBITDA | 8.4 | 6.1 |
| Revenue growth | -4.7% | -1.2% |
| Operating margin | -6.8% | 4.1% |
| Net margin | -0.5% | 3.4% |
| Return on equity | -17.0% | 19.8% |
| Return on assets | -0.7% | 5.3% |
| Return on invested capital | 5.6% | 29.0% |
| FCF yield | 16.6% | 7.6% |
| Dividend yield | 2.1% | 1.5% |
| Debt / equity | 10.57 | 0.09 |
| Current ratio | 0.76 | 1.18 |
| Altman Z (solvency) | 7.11 | 2.97 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.