Delek US vs. Par Pacific: Which Energy Stock Is a Better Buy in 2026?

Sara Appino, The Motley Fool

Tue, July 7, 2026 astatine 6:23 AM CDT 5 min read

In a shifting vigor landscape, choosing betwixt Delek US (NYSE:DK) and Par Pacific (NYSE:PARR) requires a look astatine however these autarkic refiners negociate determination marketplace volatility and operational efficiency.

Both companies run successful the competitory midstream and downstream segments, yet they prosecute antithetic determination strategies. While Delek focuses connected the Permian Basin and Gulf Coast, Par Pacific leverages niche markets similar Hawaii. Comparing them reveals however infrastructure and geographic positioning power their fiscal stableness and currency travel generation.

The lawsuit for Delek US

Delek US operates 4 refineries crossed Texas, Arkansas, and Louisiana, which are supported by a 63.3% involvement successful Delek Logistics. The institution relies connected a superior lawsuit successful its refining conception for astir 12% of its consolidated revenue, and lawsuit attraction similar this adds a furniture of hazard to the business. It besides utilizes a captious inventory statement with Citi to negociate crude proviso done aboriginal 2028.

During FY 2025, gross reached astir $10.7 billion, which represented a alteration of astir 9.5% compared to the anterior year. This diminution successful top-line income contributed to a nett nonaccomplishment of astir $22.8 cardinal for the period. While this nonaccomplishment was narrower than the erstwhile year, it highlights the interaction that fluctuating refining margins and little throughput tin person connected the bottommost line.

As of its December 2025 equilibrium sheet, Delek US reported a debt-to-equity ratio of 11.7x. This metric, which compares full indebtedness to shareholder equity, suggests a precocious level of leverage comparative to its equity base. The existent ratio, a measurement of a company's quality to wage short-term obligations with existent assets, was adjacent to 0.8x. Free currency flow, oregon the currency remaining aft paying for superior projects, was astir $22.0 cardinal for the fiscal year.

The lawsuit for Par Pacific

Par Pacific operates a refining capableness of astir 219,000 barrels per time crossed 4 facilities, with a beardown accent connected the Pacific Northwest and Hawaii. Its concern exemplary integrates refining with 121 retail locations nether brands similar Hele and 76. One lawsuit accounts for astir 12% of consolidated revenue, and lawsuit attraction similar this adds a furniture of hazard to the business.

In FY 2025, Par Pacific reported gross of adjacent to $7.5 billion, a alteration of astir 6.4% from the anterior year. Despite the little income volume, the institution achieved a nett income of astir $369.4 million. This resulted successful a nett margin, which is the percent of gross remaining arsenic nett aft each expenses, of astir 4.9% for the fiscal period.