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Mplx LP vs Delek Logistics Partners, LP: MPLX and DKL compared
Mplx LP is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $372M for Delek Logistics Partners, LP (Q3 2026). Delek Logistics Partners, LP is growing faster (+42% against -0.4% a year earlier). Mplx LP is more profitable, with an operating margin of 40.9% against 14.4%.
Where the money goes: MPLX and DKL
Mplx LP (MPLX) · Q3 2026
Mplx LP, Q3 2026: revenue $3.6B (-0.4% year over year), operating margin 40.9%, net earnings $1.2B, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
Delek Logistics Partners, LP (DKL) · Q3 2026
Delek Logistics Partners, LP, Q3 2026: revenue $372M (+42% year over year), operating margin 14.4%, net earnings $47.4M, operating cash flow $188M. The chart follows the revenue to costs, profit and cash.
| Mplx LP (MPLX) | Delek Logistics Partners, LP (DKL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.6B | $372M |
| Revenue growth, Y/Y | -0.4% | +42% |
| Operating margin | 40.9% | 14.4% |
| Net earnings | $1.2B | $47.4M |
| Net margin | 32.3% | 12.7% |
| Operating cash flow | $1.5B | $188M |
| Free cash flow | $447M | $129M |
| Market value | $56.6B | $3.0B |
| P/E | 11.9× | 19.2× |
| Analysts’ mean target | $62.92 | $53.33 |
Where the revenue comes from
Mplx LP
- Natural Gas and NGL Services: $1.5B (42%)
- Crude Oil and Products Logistics: $1.3B (35%)
- Other revenues: $817M (23%)
Delek Logistics Partners, LP
- Gathering and Processing: $204M (55%)
- Wholesale Marketing and Terminalling: $141M (38%)
- Storage and Transportation: $27.4M (7%)
Questions
Which is bigger, Mplx LP or Delek Logistics Partners, LP?
Mplx LP is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $372M for Delek Logistics Partners, LP (Q3 2026).
Is Mplx LP or Delek Logistics Partners, LP growing faster?
Delek Logistics Partners, LP is growing faster (+42% against -0.4% a year earlier).
Which is more profitable, Mplx LP or Delek Logistics Partners, LP?
Mplx LP is more profitable, with an operating margin of 40.9% against 14.4%.
More: Mplx LP earnings · how Mplx LP makes money · Delek Logistics Partners, LP earnings · how Delek Logistics Partners, LP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.