HF Sinclair Corp DINO
References herein to HF Sinclair Corporation ("HF Sinclair" or the "Company") include HF Sinclair and its consolidated subsidiaries. In this document, the words "we," "our," "ours" and "us" refer only to HF Sinclair and its consolidated subsidiaries or, in certain contexts, to HF Sinclair or an individual consolidated subsidiary and not to any other person, with certain exceptions. References herein to Holly Energy Partners, L.P. ("HEP") with respect to time periods prior to the HEP Merger Transaction (as defined below) refer to HEP and its consolidated subsidiaries.
On December 1, 2023, we completed the merger of HEP into an indirect wholly owned subsidiary of HF Sinclair pursuant to an Agreement and Plan of Merger dated August 15, 2023 (the "HEP Merger Transaction"). Consideration paid in connection with the merger included cash and shares of HF Sinclair common stock.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $26.87B | $28.58B | $31.96B | $38.20B | $18.39B | $11.18B | $17.49B |
| Cost of revenue | — | — | $25.78B | $30.68B | $15.57B | $9.16B | $13.92B |
| Gross profit | — | — | $6.18B | $7.52B | $2.82B | $2.02B | $3.57B |
| SG&A | $456.0M | $447.0M | $497.0M | $427.0M | $362.0M | $313.6M | $354.2M |
| Total operating expenses | — | — | $2.44B | $2.33B | $1.52B | $1.30B | $1.39B |
| Operating income | $927.0M | $261.0M | $2.20B | $4.05B | $749.2M | -$733.7M | $1.28B |
| Interest expense | $217.0M | $165.0M | $191.0M | $176.0M | $125.2M | $126.5M | $143.3M |
| Pre-tax income | $732.0M | $218.0M | $2.15B | $3.94B | $787.2M | -$747.0M | $1.17B |
| Income tax | $146.0M | $34.0M | $442.0M | $895.0M | $123.9M | $232.1M | $299.2M |
| Net income | $579.0M | $177.0M | $1.59B | $2.92B | $558.3M | -$601.4M | $772.4M |
| EPS, basic | 3.08 | 0.91 | 8.29 | 14.28 | 3.39 | -3.72 | 4.64 |
| EPS, diluted | 3.08 | 0.91 | 8.29 | 14.28 | 3.39 | -3.72 | 4.61 |
| Shares, diluted (wtd. avg.) | $186.5M | $192.1M | $190.0M | $202.6M | $162.6M | $162.0M | $167.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $978.0M | $800.0M | $1.35B | $1.67B | $234.0M | $1.37B | $885.2M |
| Receivables | $1.14B | $1.25B | $1.73B | $1.70B | $1.24B | — | — |
| Inventory | $2.57B | $2.80B | $2.92B | $3.21B | $2.12B | — | — |
| Total current assets | $4.81B | $5.01B | $6.15B | $6.75B | $3.76B | — | — |
| Goodwill | $2.98B | $2.98B | $2.98B | $2.98B | $2.29B | — | — |
| Other intangibles | $301.0M | $351.0M | $411.0M | $463.7M | $299.1M | — | — |
| Total assets | $16.51B | $16.64B | $17.72B | $18.13B | $12.92B | — | — |
| Accounts payable | $1.90B | $2.24B | $2.21B | $2.33B | $1.61B | — | — |
| Short-term debt | $0 | $350.0M | $0 | $307.0M | $0 | — | — |
| Total current liabilities | $2.48B | $3.04B | $2.77B | $3.25B | $2.07B | — | — |
| Long-term debt | $2.77B | $2.29B | $2.74B | $2.95B | $3.07B | — | — |
| Total liabilities | $7.26B | $7.30B | $7.48B | — | — | — | — |
| Retained earnings | $5.37B | $5.17B | $5.38B | $4.13B | $4.41B | — | — |
| Total equity | $9.18B | $9.28B | $10.24B | $10.02B | $6.29B | $5.72B | $6.51B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.31B | $1.11B | $2.30B | $3.78B | $406.7M | $457.9M | $1.55B |
| Depreciation and amortisation | $909.0M | $832.0M | $771.0M | $657.0M | $503.5M | $520.9M | $509.9M |
| Stock-based compensation | $33.0M | $23.0M | $41.0M | $31.0M | $39.3M | $31.7M | $42.3M |
| Capital expenditure | $449.0M | $470.0M | $385.0M | $524.0M | $725.1M | $270.9M | $263.7M |
| Investing cash flow | -$516.0M | -$468.0M | -$371.0M | -$774.0M | -$1.33B | -$330.2M | -$972.9M |
| Financing cash flow | -$631.0M | -$1.18B | -$2.24B | -$1.56B | -$211.8M | $353.2M | -$848.3M |
| Dividends paid | $376.0M | $386.0M | $341.0M | $256.0M | $57.7M | $229.5M | $225.2M |
| Buybacks | $354.0M | $672.0M | $999.0M | $1.37B | $7.1M | $7.6M | $533.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001915657-26-000016.
Others in SIC 4610
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ENB | ENBRIDGE INC | $109.40B | — | — |
| MPLX | MPLX LP | $60.50B | — | 5.8% |
| PAA | PLAINS ALL AMERICAN PIPELINE LP | $18.13B | — | -9.5% |
| PAGP | PLAINS GP HOLDINGS LP | $5.52B | — | -9.5% |
| DKL | Delek Logistics Partners, LP | $2.96B | — | 7.7% |
| GEL | GENESIS ENERGY LP | $1.94B | — | -1.8% |
| SOBO | South Bow Corp | — | — | -6.3% |