COMPARE · Reviewed August 7, 2026
CSAN vs DK
Verdict: Side-by-side breakdown using the Bull Rankings model. CSAN scored 54.7, DK scored 55.0 — DK leads.
Compare another set
Different reporting periods. DK's fundamentals are as of June 2026, but CSAN's are as of December 2024 — a 18-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
CSAN
Cosan S.A.
54.7
$2.88 · $2.8B
fundamentals as of
Score gap
0.3
DK leads
DK
Delek US Holdings, Inc.
55
$58.46 · $3.6B
fundamentals as of
The model, pillar by pillar (0–100 each)
CSAN
stronger →← stronger
DK
46
Qualityreturns · margins · balance sheet
57
50
Growthrevenue & earnings expansion
48
98
Valuevaluation vs sector peers
61
CSAN is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
CSAN
DK
$1.0bC+
FCF
$681mC+
+11.4%B
Rev
+11.4%B
1.10C
D/E
8.12D
0.4xA
P/S
—
—
PEG
0.38A
—
P/E
15.9xB
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
CSAN
DK
85% below
Price vs fair valuelower is cheaper
72% below
decline
Growth the price implies10-yr FCF · lower = less priced in
decline
+480%
1-yr DCF upside
+294%
+546%
5-yr DCF upside
+253%
+653%
10-yr DCF upside
+200%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
CSAN
Why this score
- Cyclical growth
- Foreign reporter (BRL)
DK
No notable signals flagged.
The companies
CSANCosan S.A.
Why now
Oil & Gas Refining & Marketing · market cap $2.8b. Down 52% from 52-week high of $6.00 — deep drawdown territory. Revenue growing +11%, comfortably above the S&P median. 4 sell-side analysts rate this a Hold with a mean 1-yr target of $3.69 (implying +28% upside).
Moat
Turnaround / out-of-favor name — GAAP-unprofitable for now, so the durability case is forward-looking: it rests on a recovery (margin normalization, a cyclical upturn or restructuring) or an un-monetized asset (IP / network effects / first-mover position) rather than on current reported results.
Risk
Currently unprofitable (margin -18.6%) — path to GAAP profitability is the core thesis risk. Down 52% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. ROE -21% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate.
DKDelek US Holdings, Inc.
Why now
Oil & Gas Refining & Marketing · market cap $3.6b. 15% off the 52-week high of $68.93. Revenue growing +11%, comfortably above the S&P median. PEG 0.38 — paying under fair value for the growth rate. 12 sell-side analysts rate this a Buy with a mean 1-yr target of $62.00 (implying +6% upside).
Moat
ROE 53% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
D/E 8.12 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Net margin 1.9% is thin — operating leverage cuts both ways; input-cost inflation or pricing pressure hits the bottom line first. Reserve-replacement treadmill — every barrel or ounce extracted has to be replaced through exploration or acquisition; underspending on replacement reserves shows up in production declines 2-3 years out.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.