PAR PACIFIC HOLDINGS, INC. PARR
Par Pacific Holdings, Inc., headquartered in Houston, Texas, is a growth-oriented energy company providing both renewable and conventional fuels to the western United States.
1) Refining - We own and operate four refineries with total operating crude oil throughput capacity of 219 Mbpd. Our refineries in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana, convert crude oil into gasoline, distillate, asphalt and other products to serve the state of Hawaii and areas ranging from Washington state to the Dakotas and Wyoming.
2) Retail - We operate fuel retail outlets in Hawaii, Washington, and Idaho. We operate convenience stores and fuel retail sites under our "Hele" and "nomnom" brands, "76" branded fuel retail sites and other sites operated by third parties that sell gasoline, diesel, and retail merchandise such as soft drinks, prepared foods, and other sundries. We also operate unattended cardlock stations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.46B | $7.97B | $8.23B | $7.32B | $4.71B | $3.12B | $5.40B | $3.41B | $2.44B | $1.87B |
| Cost of revenue | — | — | — | — | — | — | — | — | — | $1.64B |
| Gross profit | — | — | — | — | — | — | — | — | — | $228.7M |
| SG&A | $98.5M | $108.8M | $91.4M | $62.4M | $48.1M | $41.3M | $46.2M | $47.4M | $46.1M | $42.1M |
| Total operating expenses | $6.93B | $7.93B | $7.55B | $6.88B | $4.72B | $3.44B | $5.25B | $3.33B | $2.35B | $1.88B |
| Operating income | $538.8M | $47.6M | $680.0M | $437.9M | -$7.6M | -$318.0M | $148.0M | $81.9M | $94.0M | -$19.6M |
| Interest expense | $82.4M | $82.8M | $72.5M | $68.3M | $66.5M | $70.2M | $74.8M | $39.8M | $31.6M | $28.5M |
| Pre-tax income | $477.9M | -$39.0M | $613.3M | $364.9M | -$80.3M | -$429.8M | -$28.9M | $39.8M | $71.3M | -$53.7M |
| Income tax | $110.8M | $5.7M | $115.3M | $710.0K | $1.0M | $20.7M | $69.7M | $333.0K | $1.3M | $7.9M |
| Net income | $369.4M | -$33.3M | $728.6M | $364.2M | -$81.3M | -$409.1M | $40.8M | $39.4M | $72.6M | -$45.8M |
| EPS, basic | 7.28 | -0.59 | 12.14 | 6.12 | -1.40 | -7.68 | 0.80 | 0.85 | 1.58 | -1.08 |
| EPS, diluted | 7.16 | -0.59 | 11.94 | 6.08 | -1.40 | -7.68 | 0.80 | 0.85 | 1.57 | -1.08 |
| Shares, diluted (wtd. avg.) | $51.6M | $56.8M | $61.0M | $59.9M | $58.3M | $53.3M | $50.5M | $45.8M | $45.6M | $42.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $164.1M | $191.9M | $279.4M | $494.9M | $116.2M | $70.3M | $128.4M | $75.8M | $119.1M | $49.0M |
| Receivables | $312.7M | $398.1M | $367.2M | $252.9M | $195.1M | $111.7M | $228.7M | $160.3M | $121.8M | $102.4M |
| Inventory | $1.23B | $1.09B | $1.16B | $1.04B | $790.3M | $429.9M | $615.9M | $322.1M | $345.4M | $198.3M |
| Total current assets | $1.78B | $1.77B | $1.99B | $1.88B | $1.13B | $636.5M | $1.03B | $586.6M | $603.5M | $403.1M |
| Property, plant and equipment | — | — | — | — | — | — | $961.9M | $538.3M | $450.0M | $451.3M |
| Goodwill | $127.3M | $129.3M | $129.3M | $129.3M | $127.3M | $128.0M | $195.9M | $153.4M | $107.2M | $105.7M |
| Other intangibles | $9.5M | $9.5M | $10.9M | $13.6M | $16.2M | $18.9M | $21.5M | $23.9M | $26.6M | $29.9M |
| Total assets | $3.83B | $3.83B | $3.86B | $3.28B | $2.57B | $2.13B | $2.70B | $1.46B | $1.35B | $1.15B |
| Accounts payable | $341.6M | $436.8M | $391.3M | $151.4M | $154.5M | $106.9M | $162.4M | $54.8M | $52.5M | $65.2M |
| Short-term debt | $4.9M | $4.9M | $4.3M | $11.0M | $10.8M | $59.9M | $12.3M | $33.0K | $0 | $20.3M |
| Total current liabilities | $1.11B | $1.10B | $1.52B | $1.79B | $1.36B | $878.7M | $1.03B | $507.2M | $471.0M | $382.8M |
| Long-term debt | $797.9M | $1.11B | $646.6M | $494.6M | $553.7M | $648.7M | $599.6M | $392.6M | $384.8M | $350.1M |
| Total liabilities | $2.28B | $2.64B | $2.53B | $2.64B | $2.30B | $1.89B | $2.05B | $948.4M | $899.7M | $776.5M |
| Retained earnings | $541.4M | $295.8M | $465.9M | -$200.7M | -$559.1M | -$477.0M | -$67.9M | -$108.8M | -$148.2M | -$220.8M |
| Total equity | $1.51B | $1.19B | $1.34B | $644.5M | $265.7M | $246.3M | $648.2M | $512.3M | $447.7M | $368.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $445.3M | $83.8M | $579.2M | $452.6M | -$27.6M | -$37.2M | $105.6M | $90.6M | $106.5M | -$23.4M |
| Depreciation and amortisation | $144.3M | $131.6M | $119.8M | $99.8M | $94.2M | $90.0M | $86.1M | $52.6M | $46.0M | $31.6M |
| Stock-based compensation | $16.6M | $25.7M | $11.6M | $9.4M | $8.2M | $7.3M | $6.4M | $6.2M | $7.2M | $6.6M |
| Capital expenditure | $148.9M | $135.5M | $82.3M | $53.0M | $29.5M | $63.5M | $83.9M | $48.4M | $31.7M | $24.8M |
| Investing cash flow | -$142.8M | -$134.0M | -$659.0M | -$87.3M | $74.6M | -$63.5M | -$353.2M | -$175.8M | -$31.7M | -$286.2M |
| Financing cash flow | -$330.4M | -$37.0M | -$135.6M | $13.4M | -$1.1M | $42.6M | $300.2M | $41.9M | -$4.8M | $190.1M |
| Buybacks | $124.8M | $142.0M | $67.8M | $7.8M | $2.1M | $1.2M | — | — | — | — |
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 0000821483-26-000005.
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