HF Sinclair (DINO) Financials

$74.49 +2.70 (+3.76%)

Closing price 03:59 PM Eastern

Extended Trading

$74.50 +0.01 (+0.02%)

As of 05:41 PM Eastern

Annual Income Statements for HF Sinclair

This table shows HF Sinclair's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-601	558	2,923	1,590	177	579
Consolidated Net Income / (Loss)	-515	663	3,041	1,711	184	586
Net Income / (Loss) Continuing Operations	-515	663	3,041	1,711	184	586
Total Pre-Tax Income	-747	787	3,936	2,153	218	732
Total Operating Income	-734	749	4,054	2,203	261	927
Total Gross Profit	2,025	2,822	5,138	3,471	1,557	2,301
Total Revenue	11,184	18,389	38,205	31,964	28,580	26,869
Operating Revenue	11,184	18,389	38,205	31,964	28,580	26,869
Total Cost of Revenue	9,159	15,567	33,067	28,493	27,023	24,568
Operating Cost of Revenue	9,159	15,567	33,067	28,493	27,023	24,568
Total Operating Expenses	2,759	2,073	1,084	1,268	1,296	1,374
Selling, General & Admin Expense	1,614	1,879	427	497	447	456
Depreciation Expense	521	504	657	771	832	909
Other Operating Expenses / (Income)	78	-310	-	0.00	17	9.00
Total Other Income / (Expense), net	-13	38	-118	-50	-43	-195
Interest Expense	152	125	176	191	165	217
Interest & Investment Income	14	16	30	111	107	75
Other Income / (Expense), net	125	147	28	30	15	-53
Income Tax Expense	-232	124	895	442	34	146
Net Income / (Loss) Attributable to Noncontrolling Interest	87	105	118	121	7.00	7.00
Basic Earnings per Share	($3.72)	$3.39	$14.28	$8.29	$0.91	$3.08
Weighted Average Basic Shares Outstanding	161.98M	162.57M	202.57M	190.04M	192.07M	186.47M
Diluted Earnings per Share	($3.72)	$3.39	$14.28	$8.29	$0.91	$3.08
Weighted Average Diluted Shares Outstanding	161.98M	162.57M	202.57M	190.04M	192.07M	186.47M
Weighted Average Basic & Diluted Shares Outstanding	-	-	196.19M	198.57M	188.41M	180.27M
Cash Dividends to Common per Share	$1.40	$0.35	$1.20	$1.80	$2.00	$2.00

This table shows HF Sinclair's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	791	-62	315	152	-76	-214	-4.00	208	403	-28	648
Consolidated Net Income / (Loss)	825	-34	317	154	-74	-212	-2.00	210	405	-27	650
Net Income / (Loss) Continuing Operations	825	-34	317	154	-74	-212	-2.00	210	405	-27	650
Total Pre-Tax Income	1,060	-72	402	178	-131	-230	-1.00	246	528	-41	839
Total Operating Income	1,071	-77	411	197	-121	-226	81	275	564	7.00	847
Total Gross Profit	1,391	-394	712	507	217	-265	415	624	903	359	1,191
Total Revenue	8,905	7,660	7,027	7,846	7,207	6,500	6,370	6,784	7,251	6,464	7,123
Operating Revenue	8,905	7,660	7,027	7,846	7,207	6,500	6,370	6,784	7,251	6,464	7,123
Total Cost of Revenue	7,514	8,054	6,315	7,339	6,990	6,764	5,955	6,160	6,348	6,105	5,932
Operating Cost of Revenue	7,514	8,054	6,315	7,339	6,990	6,764	5,955	6,160	6,348	6,105	5,932
Total Operating Expenses	320	-318	301	310	338	-39	334	349	339	352	344
Selling, General & Admin Expense	124	-490	103	104	118	-486	104	114	105	133	115
Depreciation Expense	196	212	198	206	210	218	225	226	230	228	229
Other Operating Expenses / (Income)	-	-	0.00	0.00	10	-	5.00	9.00	4.00	-9.00	0.00
Total Other Income / (Expense), net	-11	4.74	-9.00	-19	-10	-4.23	-82	-29	-36	-48	-8.00
Interest Expense	49	50	41	45	40	38	49	53	51	64	41
Interest & Investment Income	28	38	29	27	26	24	20	17	17	21	18
Other Income / (Expense), net	9.81	16	3.00	-1.00	4.00	9.83	-53	7.00	-2.00	-5.00	15
Income Tax Expense	235	-39	85	24	-57	-18	1.00	36	123	-14	189
Net Income / (Loss) Attributable to Noncontrolling Interest	34	28	2.00	2.00	2.00	1.49	2.00	2.00	2.00	1.00	2.00
Basic Earnings per Share	$4.23	($0.35)	$1.57	$0.79	($0.40)	($1.05)	($0.02)	$1.10	$2.15	($0.15)	$3.56
Weighted Average Basic Shares Outstanding	185.46M	190.04M	198.71M	191.51M	189.84M	192.07M	188.49M	188.11M	186.50M	186.47M	180.65M
Diluted Earnings per Share	$4.23	($0.35)	$1.57	$0.79	($0.40)	($1.05)	($0.02)	$1.10	$2.15	($0.15)	$3.56
Weighted Average Diluted Shares Outstanding	185.46M	190.04M	198.71M	191.51M	189.84M	192.07M	188.49M	188.11M	186.50M	186.47M	180.65M
Weighted Average Basic & Diluted Shares Outstanding	179.67M	198.57M	192.16M	190.82M	188.15M	188.41M	188.41M	187.08M	183.95M	180.27M	180.28M
Cash Dividends to Common per Share	$0.45	-	$0.50	$0.50	$0.50	-	$0.50	$0.50	$0.50	-	$0.50

This table details how cash moves in and out of HF Sinclair's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	483	-1,134	1,431	-311	-554	178
Net Cash From Operating Activities	458	407	3,777	2,297	1,110	1,315
Net Cash From Continuing Operating Activities	585	407	3,777	2,297	1,110	1,315
Net Income / (Loss) Continuing Operations	-515	663	3,041	1,711	184	586
Consolidated Net Income / (Loss)	-515	663	3,041	1,711	184	586
Depreciation Expense	521	504	657	771	832	909
Non-Cash Adjustments To Reconcile Net Income	575	-461	40	-82	-426	52
Changes in Operating Assets and Liabilities, net	4.54	-299	39	-103	520	-232
Net Cash From Investing Activities	-330	-1,327	-774	-371	-468	-516
Net Cash From Continuing Investing Activities	-271	-1,327	-774	-371	-468	-516
Purchase of Property, Plant & Equipment	-271	-813	-524	-385	-470	-449
Sale of Property, Plant & Equipment	1.55	106	3.00	17	4.00	6.00
Other Investing Activities, net	-	-	-	-3.00	-2.00	-73
Net Cash From Financing Activities	353	-212	-1,561	-2,244	-1,182	-631
Net Cash From Continuing Financing Activities	352	-212	-1,561	-2,244	-1,182	-631
Repayment of Debt	-326	-646	-735	-582	-106	-1,794
Repurchase of Common Equity	-7.64	-7.06	-1,372	-999	-672	-354
Payment of Dividends	-318	-133	-352	-711	-393	-386
Issuance of Debt	1,007	556	910	60	0.00	1,890
Other Financing Activities, net	-3.00	-3.99	-12	-12	-11	13
Effect of Exchange Rate Changes	2.16	-1.53	-11	7.00	-14	10
Cash Interest Paid	120	136	160	203	164	139

This table details how cash moves in and out of HF Sinclair's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	600	-861	-113	-375	363	-430	-253	327	577	-473	170
Net Cash From Operating Activities	1,399	230	317	226	708	-140	-89	587	809	8.00	457
Net Cash From Continuing Operating Activities	1,399	230	317	226	708	-140	-89	587	809	8.00	457
Net Income / (Loss) Continuing Operations	825	-34	317	153	-74	-212	-2.00	210	405	-27	650
Consolidated Net Income / (Loss)	825	-34	317	153	-74	-212	-2.00	210	405	-27	650
Depreciation Expense	196	212	198	205	210	218	225	226	230	228	229
Non-Cash Adjustments To Reconcile Net Income	-144	303	-258	-91	55	-132	-188	-46	69	217	-722
Changes in Operating Assets and Liabilities, net	522	-251	60	-42	517	-15	-124	197	105	-410	300
Net Cash From Investing Activities	-71	-123	-91	-82	-121	-173	-85	-108	-148	-175	-161
Net Cash From Continuing Investing Activities	-71	-123	-91	-82	-121	-173	-85	-108	-148	-175	-161
Purchase of Property, Plant & Equipment	-81	-124	-89	-84	-124	-173	-86	-111	-121	-131	-102
Acquisitions	-1.75	-2.25	-5.00	-	-1.00	-2.00	0.00	-	-	-	-59
Other Investing Activities, net	-	-	-	-	-	-	1.00	-	-	-45	0.00
Net Cash From Financing Activities	-725	-976	-336	-516	-227	-103	-80	-159	-84	-308	-125
Net Cash From Continuing Financing Activities	-725	-976	-336	-516	-227	-103	-80	-159	-84	-308	-125
Repayment of Debt	-33	-432	-62	-44	-	-0.19	-1,375	-7.00	-416	1.00	-2.00
Repurchase of Common Equity	-586	-165	-170	-371	-127	-4.66	0.00	-50	-166	-138	-76
Payment of Dividends	-109	-375	-101	-98	-98	-95	-99	-97	-97	-93	-93
Issuance of Debt	5.00	-	0.00	-	-	-	1,394	-	599	-103	0.00
Other Financing Activities, net	-3.13	-2.67	-3.00	-2.60	-2.85	-2.96	0.00	-5.00	-4.00	25	46
Effect of Exchange Rate Changes	-1.85	7.89	-3.00	-2.05	3.67	-13	1.00	7.00	-	2.00	-1.00
Cash Interest Paid	26	83	24	60	21	59	39	24	64	12	72

This table presents HF Sinclair's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	12,917	18,125	17,716	16,643	16,510
Total Current Assets	3,762	6,748	6,146	5,014	4,812
Cash & Equivalents	234	1,665	1,354	800	978
Accounts Receivable	1,242	1,703	1,725	1,251	1,136
Inventories, net	2,122	3,215	2,922	2,798	2,573
Current Deferred & Refundable Income Taxes	97	54	56	70	47
Other Current Assets	67	112	89	95	78
Plant, Property, & Equipment, net	5,415	6,689	6,627	6,558	6,533
Plant, Property & Equipment, gross	8,448	10,147	10,534	10,931	11,392
Accumulated Depreciation	3,033	3,458	3,907	4,373	4,859
Total Noncurrent Assets	3,739	4,688	4,943	5,071	5,165
Long-Term Investments	-	-	-	-	226
Goodwill	2,293	2,978	2,978	2,977	2,978
Intangible Assets	653	983	972	962	729
Other Noncurrent Operating Assets	794	727	993	1,132	1,232
Total Liabilities & Shareholders' Equity	12,917	18,125	17,716	16,643	16,510
Total Liabilities	6,622	8,108	7,479	7,297	7,261
Total Current Liabilities	2,065	3,246	2,775	3,043	2,485
Accounts Payable	1,613	2,334	2,206	2,236	1,902
Accrued Expenses	316	487	453	377	493
Current Deferred & Payable Income Tax Liabilities	25	7.82	9.00	3.00	5.00
Other Current Liabilities	111	110	107	77	85
Total Noncurrent Liabilities	4,557	4,862	4,704	4,254	4,776
Long-Term Debt	3,073	2,949	2,739	2,288	2,769
Noncurrent Deferred & Payable Income Tax Liabilities	837	1,262	1,297	1,224	1,240
Other Noncurrent Operating Liabilities	647	652	668	742	767
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,294	10,018	10,237	9,346	9,249
Total Preferred & Common Equity	5,688	9,244	10,169	9,278	9,184
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,688	9,244	10,169	9,278	9,184
Common Stock	4,223	6,471	5,996	6,000	6,010
Retained Earnings	4,414	4,130	5,379	5,170	5,373
Treasury Stock	-2,951	-1,335	-1,194	-1,845	-2,173
Accumulated Other Comprehensive Income / (Loss)	2.67	-22	-12	-47	-26
Noncontrolling Interest	607	774	68	68	65

This table presents HF Sinclair's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	18,226	18,006	18,197	18,902	17,916	17,382	16,888	16,542	16,843	17,264	18,172
Total Current Assets	6,827	6,559	6,693	7,402	6,322	5,843	5,356	4,987	5,173	5,644	6,439
Cash & Equivalents	1,447	1,365	1,615	2,215	1,241	866	1,229	547	874	1,451	1,148
Accounts Receivable	1,806	1,617	1,631	1,949	1,814	1,663	1,328	1,309	1,356	1,331	1,893
Inventories, net	3,437	3,449	3,259	3,134	3,131	3,160	2,688	2,975	2,814	2,783	3,269
Current Deferred & Refundable Income Taxes	31	43	112	29	43	54	48	70	54	17	10
Other Current Assets	106	84	77	76	94	100	64	86	75	62	119
Plant, Property, & Equipment, net	6,733	6,656	6,628	6,580	6,588	6,551	6,543	6,518	6,518	6,512	6,494
Plant, Property & Equipment, gross	10,061	10,220	10,313	10,373	10,610	10,687	10,815	11,003	11,140	11,253	11,464
Accumulated Depreciation	3,328	3,564	3,685	3,793	4,022	4,135	4,271	4,485	4,622	4,741	4,970
Total Noncurrent Assets	4,666	4,791	4,876	4,919	5,006	4,987	4,988	5,037	5,152	5,108	5,239
Long-Term Investments	-	-	-	-	-	-	-	-	-	-	254
Goodwill	2,969	2,979	2,979	2,977	2,978	2,977	2,978	2,978	2,978	2,978	2,978
Intangible Assets	977	986	979	958	977	963	945	922	923	929	710
Other Noncurrent Operating Assets	720	827	919	984	1,051	1,047	1,065	1,137	1,251	1,201	1,297
Total Liabilities & Shareholders' Equity	18,226	18,006	18,197	18,902	17,916	17,382	16,888	16,542	16,843	17,264	18,172
Total Liabilities	8,448	7,955	7,706	8,287	7,640	7,425	7,217	7,289	7,495	7,769	8,443
Total Current Liabilities	3,242	3,118	2,888	3,477	2,918	2,759	2,963	2,664	2,841	2,950	3,590
Accounts Payable	2,415	2,109	2,001	2,366	2,277	2,172	2,016	2,124	2,206	2,210	2,682
Accrued Expenses	533	533	466	553	486	482	499	461	549	642	801
Current Deferred & Payable Income Tax Liabilities	183	60	4.20	137	57	16	20	2.00	2.00	12	14
Other Current Liabilities	110	108	109	113	98	89	78	77	84	86	93
Total Noncurrent Liabilities	5,205	4,838	4,818	4,809	4,722	4,665	4,254	4,625	4,654	4,819	4,853
Long-Term Debt	3,334	2,933	2,888	2,862	2,679	2,636	2,287	2,676	2,677	2,768	2,771
Noncurrent Deferred & Payable Income Tax Liabilities	1,229	1,278	1,323	1,346	1,308	1,301	1,239	1,226	1,239	1,285	1,330
Other Noncurrent Operating Liabilities	642	627	607	602	736	728	728	723	738	766	752
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,779	10,051	10,491	10,615	10,276	9,957	9,670	9,253	9,348	9,495	9,729
Total Preferred & Common Equity	9,015	9,271	9,709	9,825	10,208	9,890	9,604	9,187	9,282	9,430	9,664
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	9,015	9,271	9,709	9,825	10,208	9,890	9,604	9,187	9,282	9,430	9,664
Common Stock	6,500	6,472	6,483	6,494	5,994	5,999	6,003	6,005	6,013	6,020	6,017
Retained Earnings	3,624	4,396	4,816	5,523	5,594	5,650	5,479	5,071	5,184	5,493	5,930
Treasury Stock	-1,072	-1,577	-1,576	-2,168	-1,358	-1,732	-1,860	-1,845	-1,895	-2,056	-2,249
Accumulated Other Comprehensive Income / (Loss)	-36	-20	-13	-25	-22	-27	-19	-44	-20	-27	-34
Noncontrolling Interest	763	780	782	791	68	67	67	66	66	65	65

This table displays calculated financial ratios and metrics derived from HF Sinclair's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	64.43%	107.76%	-16.34%	-10.59%	-5.99%
EBITDA Growth	0.00%	1,690.75%	238.64%	-36.61%	-63.12%	60.92%
EBIT Growth	0.00%	247.13%	355.64%	-45.30%	-87.64%	216.67%
NOPAT Growth	0.00%	222.90%	396.17%	-44.10%	-87.42%	236.87%
Net Income Growth	0.00%	228.81%	358.50%	-43.74%	-89.25%	218.48%
EPS Growth	0.00%	191.13%	321.24%	-41.95%	-89.02%	238.46%
Operating Cash Flow Growth	0.00%	-11.19%	828.74%	-39.18%	-51.68%	18.47%
Free Cash Flow Firm Growth	0.00%	0.00%	107.73%	164.36%	-62.10%	34.61%
Invested Capital Growth	0.00%	0.00%	27.10%	0.12%	-3.77%	-1.29%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-3.98%	-3.90%	-0.13%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-22.46%	-11.78%	14.66%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-28.86%	-35.88%	33.44%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-27.75%	-44.27%	44.89%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-27.79%	-49.22%	46.50%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-31.71%	-43.48%	41.28%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	49.32%	-22.96%	-25.05%	12.68%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-25.85%	13.91%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.45%	0.96%	2.11%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	18.11%	15.35%	13.45%	10.86%	5.45%	8.56%
EBITDA Margin	-0.79%	7.61%	12.40%	9.40%	3.88%	6.64%
Operating Margin	-6.56%	4.07%	10.61%	6.89%	0.91%	3.45%
EBIT Margin	-5.44%	4.87%	10.68%	6.99%	0.97%	3.25%
Profit (Net Income) Margin	-4.60%	3.61%	7.96%	5.35%	0.64%	2.18%
Tax Burden Percent	68.92%	84.26%	77.26%	79.47%	84.40%	80.05%
Interest Burden Percent	122.69%	87.86%	96.42%	96.42%	78.99%	83.75%
Effective Tax Rate	0.00%	15.74%	22.74%	20.53%	15.60%	19.95%
Return on Invested Capital (ROIC)	0.00%	13.82%	30.20%	15.07%	1.93%	6.68%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	16.08%	26.09%	12.40%	-0.32%	-1.92%
Return on Net Nonoperating Assets (RNNOA)	0.00%	7.25%	7.08%	1.82%	-0.05%	-0.38%
Return on Equity (ROE)	0.00%	21.07%	37.29%	16.90%	1.88%	6.30%
Cash Return on Invested Capital (CROIC)	0.00%	-186.18%	6.33%	14.95%	5.77%	7.97%
Operating Return on Assets (OROA)	0.00%	6.94%	26.30%	12.46%	1.61%	5.27%
Return on Assets (ROA)	0.00%	5.13%	19.59%	9.55%	1.07%	3.54%
Return on Common Equity (ROCE)	0.00%	19.04%	34.13%	16.19%	1.87%	6.26%
Return on Equity Simple (ROE_SIMPLE)	0.00%	11.66%	32.90%	16.83%	1.98%	0.00%
Net Operating Profit after Tax (NOPAT)	-514	631	3,132	1,751	220	742
NOPAT Margin	-4.59%	3.43%	8.20%	5.48%	0.77%	2.76%
Net Nonoperating Expense Percent (NNEP)	0.00%	-2.25%	4.12%	2.67%	2.25%	8.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	23.60%	13.49%	1.84%	6.18%
Cost of Revenue to Revenue	81.89%	84.65%	86.55%	89.14%	94.55%	91.44%
SG&A Expenses to Revenue	14.43%	10.22%	1.12%	1.55%	1.56%	1.70%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.67%	11.27%	2.84%	3.97%	4.53%	5.11%
Earnings before Interest and Taxes (EBIT)	-609	896	4,082	2,233	276	874
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-88	1,399	4,739	3,004	1,108	1,783
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.04	0.94	0.71	0.92
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.83	1.54	1.24	1.61
Price to Revenue (P/Rev)	0.00	0.00	0.25	0.30	0.23	0.32
Price to Earnings (P/E)	0.00	0.00	3.30	6.03	37.26	14.64
Dividend Yield	5.96%	4.66%	2.50%	3.37%	5.71%	4.34%
Earnings Yield	0.00%	0.00%	30.28%	16.57%	2.68%	6.83%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.04	0.95	0.76	0.94
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.31	0.35	0.30	0.38
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	2.54	3.68	7.67	5.79
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	2.94	4.95	30.80	11.82
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	3.84	6.31	38.59	13.92
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	3.18	4.81	7.66	7.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	18.29	6.36	12.91	11.66
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.49	0.33	0.27	0.28	0.30
Long-Term Debt to Equity	0.00	0.49	0.29	0.27	0.24	0.30
Financial Leverage	0.00	0.45	0.27	0.15	0.16	0.20
Leverage Ratio	0.00	2.05	1.90	1.77	1.75	1.78
Compound Leverage Factor	0.00	1.80	1.84	1.71	1.39	1.49
Debt to Total Capital	0.00%	32.80%	24.53%	21.11%	22.01%	23.04%
Short-Term Debt to Total Capital	0.00%	0.00%	2.31%	0.00%	2.92%	0.00%
Long-Term Debt to Total Capital	0.00%	32.80%	22.21%	21.11%	19.09%	23.04%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	6.48%	5.83%	0.52%	0.57%	0.54%
Common Equity to Total Capital	0.00%	60.72%	69.64%	78.37%	77.42%	76.42%
Debt to EBITDA	0.00	2.20	0.69	0.91	2.38	1.55
Net Debt to EBITDA	0.00	2.03	0.34	0.46	1.66	1.00
Long-Term Debt to EBITDA	0.00	2.20	0.62	0.91	2.07	1.55
Debt to NOPAT	0.00	4.87	1.04	1.56	11.97	3.73
Net Debt to NOPAT	0.00	4.50	0.51	0.79	8.34	2.41
Long-Term Debt to NOPAT	0.00	4.87	0.94	1.56	10.39	3.73
Altman Z-Score	0.00	0.00	4.12	3.64	2.89	3.13
Noncontrolling Interest Sharing Ratio	0.00%	9.64%	8.46%	4.16%	0.69%	0.72%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	1.82	2.08	2.21	1.65	1.94
Quick Ratio	0.00	0.71	1.04	1.11	0.67	0.85
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-8,501	657	1,737	658	886
Operating Cash Flow to CapEx	170.03%	57.52%	724.95%	624.18%	238.20%	296.84%
Free Cash Flow to Firm to Interest Expense	0.00	-67.92	3.73	9.09	3.99	4.08
Operating Cash Flow to Interest Expense	3.00	3.25	21.46	12.03	6.73	6.06
Operating Cash Flow Less CapEx to Interest Expense	1.24	-2.40	18.50	10.10	3.90	4.02
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	1.42	2.46	1.78	1.66	1.62
Accounts Receivable Turnover	0.00	14.81	25.95	18.65	19.21	22.51
Inventory Turnover	0.00	7.34	12.39	9.29	9.45	9.15
Fixed Asset Turnover	0.00	3.40	6.31	4.80	4.34	4.11
Accounts Payable Turnover	0.00	9.65	16.75	12.55	12.17	11.87
Days Sales Outstanding (DSO)	0.00	24.65	14.07	19.57	19.00	16.21
Days Inventory Outstanding (DIO)	0.00	49.76	29.45	39.31	38.63	39.90
Days Payable Outstanding (DPO)	0.00	37.83	21.79	29.08	30.00	30.74
Cash Conversion Cycle (CCC)	0.00	36.58	21.73	29.80	27.63	25.37
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	9,133	11,608	11,622	11,184	11,040
Invested Capital Turnover	0.00	4.03	3.68	2.75	2.51	2.42
Increase / (Decrease) in Invested Capital	0.00	9,133	2,475	14	-438	-144
Enterprise Value (EV)	0.00	0.00	12,017	11,047	8,501	10,332
Market Capitalization	0.00	0.00	9,653	9,594	6,595	8,476
Book Value per Share	$0.00	$34.99	$46.05	$56.60	$49.31	$49.93
Tangible Book Value per Share	$0.00	$16.87	$26.32	$34.61	$28.38	$28.55
Total Capital	0.00	9,367	13,273	12,976	11,984	12,018
Total Debt	0.00	3,073	3,255	2,739	2,638	2,769
Total Long-Term Debt	0.00	3,073	2,949	2,739	2,288	2,769
Net Debt	0.00	2,838	1,590	1,385	1,838	1,791
Capital Expenditures (CapEx)	269	707	521	368	466	443
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	1,463	2,145	2,017	1,521	1,349
Debt-free Net Working Capital (DFNWC)	0.00	1,697	3,810	3,371	2,321	2,327
Net Working Capital (NWC)	0.00	1,697	3,503	3,371	1,971	2,327
Net Nonoperating Expense (NNE)	1.28	-32	91	40	36	156
Net Nonoperating Obligations (NNO)	0.00	2,838	1,590	1,385	1,838	1,791
Total Depreciation and Amortization (D&A)	521	504	657	771	832	909
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	7.95%	5.61%	6.31%	5.32%	5.02%
Debt-free Net Working Capital to Revenue	0.00%	9.23%	9.97%	10.55%	8.12%	8.66%
Net Working Capital to Revenue	0.00%	9.23%	9.17%	10.55%	6.90%	8.66%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$14.28	$8.29	$0.91	$3.08
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	202.57M	190.04M	192.07M	186.47M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$14.28	$8.29	$0.91	$3.08
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	202.57M	190.04M	192.07M	186.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	196.19M	198.57M	188.41M	180.27M
Normalized Net Operating Profit after Tax (NOPAT)	-132	631	3,132	1,751	235	742
Normalized NOPAT Margin	-1.18%	3.43%	8.20%	5.48%	0.82%	2.76%
Pre Tax Income Margin	-6.68%	4.28%	10.30%	6.74%	0.76%	2.72%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-3.99	7.16	23.19	11.69	1.67	4.03
NOPAT to Interest Expense	-3.37	5.04	17.80	9.17	1.34	3.42
EBIT Less CapEx to Interest Expense	-5.76	1.51	20.23	9.76	-1.15	1.99
NOPAT Less CapEx to Interest Expense	-5.14	-0.61	14.84	7.24	-1.49	1.38
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	-61.86%	20.06%	11.58%	41.55%	213.59%	65.87%
Augmented Payout Ratio	-63.34%	21.13%	56.69%	99.94%	578.80%	126.28%

This table displays calculated financial ratios and metrics derived from HF Sinclair's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	180,273,187.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	180,273,187.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.59
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-15.98%	-14.75%	-7.11%	0.16%	-19.07%	-15.14%	-9.35%	-13.54%	0.61%	-0.55%	11.82%
EBITDA Growth	-15.07%	-85.23%	-10.09%	-55.16%	-92.77%	-98.62%	-58.66%	26.68%	751.61%	11,400.00%	331.23%
EBIT Growth	-18.79%	-107.23%	-18.44%	-72.21%	-110.86%	-253.52%	-93.24%	43.88%	580.34%	100.92%	2,978.57%
NOPAT Growth	-17.81%	-108.48%	-19.23%	-69.22%	-110.14%	-193.77%	-82.51%	37.74%	610.76%	103.10%	1,057.32%
Net Income Growth	-15.65%	-105.37%	-17.76%	-71.28%	-108.98%	-531.94%	-100.63%	36.36%	647.30%	87.32%	32,600.00%
EPS Growth	-4.94%	-110.00%	-12.29%	-69.85%	-109.46%	-200.00%	-101.27%	39.24%	637.50%	85.71%	17,900.00%
Operating Cash Flow Growth	60.27%	-74.81%	78.33%	-53.89%	-49.42%	-160.93%	-128.08%	162.05%	14.10%	105.71%	613.48%
Free Cash Flow Firm Growth	108.72%	0.00%	104.65%	26,861.07%	-56.07%	512.27%	-27.51%	57.04%	71.22%	-46.78%	141.96%
Invested Capital Growth	-0.82%	0.12%	-1.78%	-2.86%	-4.26%	-3.77%	-2.83%	-4.91%	-2.40%	-1.29%	-2.50%
Revenue Q/Q Growth	13.68%	-13.99%	-8.26%	11.65%	-8.14%	-9.81%	-2.00%	6.50%	6.88%	-10.85%	10.19%
EBITDA Q/Q Growth	42.55%	-88.18%	308.02%	-34.37%	-77.02%	-97.74%	12,045.94%	100.79%	55.91%	-70.96%	374.35%
EBIT Q/Q Growth	53.09%	-105.66%	770.05%	-52.50%	-159.81%	-84.10%	112.95%	907.14%	99.29%	-99.64%	43,000.00%
NOPAT Q/Q Growth	50.71%	-106.46%	697.34%	-47.35%	-149.63%	-87.16%	135.84%	314.03%	84.28%	-98.87%	13,291.79%
Net Income Q/Q Growth	54.37%	-104.07%	1,040.76%	-51.53%	-148.27%	-186.20%	99.06%	10,600.00%	92.86%	-106.67%	2,507.41%
EPS Q/Q Growth	61.45%	-108.27%	548.57%	-49.68%	-150.63%	-162.50%	98.10%	5,600.00%	95.45%	-106.98%	2,473.33%
Operating Cash Flow Q/Q Growth	185.51%	-83.53%	37.38%	-28.71%	213.20%	-119.84%	36.61%	759.55%	37.82%	-99.01%	5,612.50%
Free Cash Flow Firm Q/Q Growth	48,448.06%	-107.31%	878.16%	-3.66%	-20.90%	-31.43%	38.87%	108.54%	-13.82%	-78.68%	531.43%
Invested Capital Q/Q Growth	-4.16%	0.45%	0.79%	0.11%	-5.53%	0.96%	1.77%	-2.03%	-3.04%	2.11%	0.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.62%	-5.15%	15.66%	6.42%	3.01%	-4.07%	6.51%	9.20%	12.45%	5.55%	16.72%
EBITDA Margin	14.34%	1.97%	8.71%	5.12%	1.28%	0.03%	3.97%	7.49%	10.92%	3.56%	15.32%
Operating Margin	12.03%	-1.00%	5.85%	2.51%	-1.68%	-3.48%	1.27%	4.05%	7.78%	0.11%	11.89%
EBIT Margin	12.14%	-0.80%	5.88%	2.50%	-1.63%	-3.33%	0.44%	4.16%	7.75%	0.03%	12.10%
Profit (Net Income) Margin	9.26%	-0.44%	4.51%	1.96%	-1.03%	-3.26%	-0.03%	3.10%	5.59%	-0.42%	9.13%
Tax Burden Percent	77.83%	46.48%	78.74%	86.49%	56.40%	92.10%	200.00%	85.37%	76.70%	65.85%	77.47%
Interest Burden Percent	98.05%	118.07%	97.30%	90.40%	111.87%	106.50%	-3.57%	87.23%	93.95%	-2,050.00%	97.33%
Effective Tax Rate	22.17%	0.00%	21.26%	13.51%	0.00%	0.00%	0.00%	14.63%	23.30%	0.00%	22.53%
Return on Invested Capital (ROIC)	26.83%	-1.93%	12.24%	5.74%	-3.08%	-6.10%	2.15%	8.13%	14.67%	0.18%	22.64%
ROIC Less NNEP Spread (ROIC-NNEP)	26.21%	-0.57%	11.83%	4.73%	-2.20%	-9.44%	-1.14%	6.74%	12.64%	-1.57%	22.28%
Return on Net Nonoperating Assets (RNNOA)	3.65%	-0.08%	1.93%	0.78%	-0.26%	-1.55%	-0.21%	1.25%	1.80%	-0.31%	4.11%
Return on Equity (ROE)	30.48%	-2.02%	14.17%	6.51%	-3.34%	-7.65%	1.94%	9.37%	16.46%	-0.12%	26.75%
Cash Return on Invested Capital (CROIC)	0.00%	14.95%	15.95%	13.74%	7.84%	5.77%	2.46%	5.09%	7.11%	7.97%	14.39%
Operating Return on Assets (OROA)	21.77%	-1.42%	10.29%	4.42%	-2.71%	-5.53%	0.71%	6.52%	12.21%	0.05%	19.26%
Return on Assets (ROA)	16.61%	-0.78%	7.88%	3.46%	-1.71%	-5.43%	-0.05%	4.86%	8.80%	-0.68%	14.52%
Return on Common Equity (ROCE)	28.16%	-1.93%	13.58%	6.24%	-3.19%	-7.60%	1.93%	9.31%	16.35%	-0.12%	26.56%
Return on Equity Simple (ROE_SIMPLE)	24.12%	0.00%	16.09%	12.76%	3.77%	0.00%	-1.47%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	834	-54	323	170	-85	-158	57	235	433	4.90	656
NOPAT Margin	9.36%	-0.70%	4.60%	2.17%	-1.17%	-2.43%	0.89%	3.46%	5.97%	0.08%	9.21%
Net Nonoperating Expense Percent (NNEP)	0.62%	-1.36%	0.41%	1.01%	-0.88%	3.34%	3.29%	1.39%	2.03%	1.76%	0.35%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.42%	-	-	-	-1.32%	0.48%	1.95%	3.53%	0.04%	5.25%
Cost of Revenue to Revenue	84.38%	105.15%	84.34%	93.58%	96.99%	104.07%	93.49%	90.80%	87.55%	94.45%	83.28%
SG&A Expenses to Revenue	1.39%	-6.40%	10.11%	1.34%	1.64%	-7.48%	1.63%	1.68%	1.45%	2.06%	1.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.59%	-4.15%	9.82%	3.91%	4.69%	-0.59%	5.24%	5.14%	4.68%	5.45%	4.83%
Earnings before Interest and Taxes (EBIT)	1,081	-61	413	196	-117	-216	28	282	562	2.00	862
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,277	151	612	402	92	2.08	253	508	792	230	1,091
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.03	0.94	1.04	1.03	0.89	0.71	0.67	0.83	1.04	0.92	1.16
Price to Tangible Book Value (P/TBV)	1.72	1.54	1.70	1.70	1.50	1.24	1.17	1.44	1.77	1.61	1.88
Price to Revenue (P/Rev)	0.30	0.30	0.34	0.32	0.29	0.23	0.22	0.29	0.36	0.32	0.41
Price to Earnings (P/E)	4.52	6.03	6.86	8.49	25.90	37.26	0.00	0.00	24.92	14.64	9.14
Dividend Yield	3.19%	3.37%	3.88%	3.60%	4.38%	5.71%	6.08%	4.87%	3.82%	4.34%	3.21%
Earnings Yield	22.15%	16.57%	14.58%	11.79%	3.86%	2.68%	0.00%	0.00%	4.01%	6.83%	10.94%
Enterprise Value to Invested Capital (EV/IC)	1.02	0.95	1.04	1.02	0.90	0.76	0.74	0.86	1.03	0.94	1.14
Enterprise Value to Revenue (EV/Rev)	0.36	0.35	0.39	0.38	0.34	0.30	0.30	0.36	0.42	0.38	0.46
Enterprise Value to EBITDA (EV/EBITDA)	3.06	3.68	4.14	4.91	7.95	7.67	11.20	11.23	7.19	5.79	4.84
Enterprise Value to EBIT (EV/EBIT)	3.78	4.95	5.68	7.35	23.18	30.80	0.00	0.00	17.06	11.82	7.42
Enterprise Value to NOPAT (EV/NOPAT)	4.89	6.31	7.26	9.29	25.25	38.59	0.00	1,525.22	21.82	13.92	9.51
Enterprise Value to Operating Cash Flow (EV/OCF)	3.98	4.81	4.98	5.51	6.74	7.66	11.92	9.01	9.57	7.86	6.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.36	6.44	7.33	11.24	12.91	29.59	16.51	14.36	11.66	7.84
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.27	0.26	0.26	0.27	0.28	0.29	0.29	0.29	0.30	0.28
Long-Term Debt to Equity	0.27	0.27	0.26	0.26	0.24	0.24	0.29	0.29	0.29	0.30	0.28
Financial Leverage	0.14	0.15	0.16	0.16	0.12	0.16	0.18	0.19	0.14	0.20	0.18
Leverage Ratio	1.82	1.77	1.77	1.74	1.76	1.75	1.76	1.77	1.78	1.78	1.83
Compound Leverage Factor	1.79	2.09	1.72	1.57	1.97	1.87	-0.06	1.55	1.67	-36.55	1.78
Debt to Total Capital	22.99%	21.11%	20.68%	20.93%	21.42%	22.01%	22.43%	22.26%	22.57%	23.04%	22.17%
Short-Term Debt to Total Capital	2.23%	0.00%	0.00%	0.00%	2.84%	2.92%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	20.76%	21.11%	20.68%	20.93%	18.58%	19.09%	22.43%	22.26%	22.57%	23.04%	22.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.74%	0.52%	0.52%	0.53%	0.54%	0.57%	0.55%	0.55%	0.53%	0.54%	0.52%
Common Equity to Total Capital	71.27%	78.37%	78.80%	78.54%	78.03%	77.42%	77.01%	77.19%	76.90%	76.42%	77.31%
Debt to EBITDA	0.82	0.91	0.91	1.08	2.10	2.38	3.57	3.13	1.78	1.55	1.06
Net Debt to EBITDA	0.25	0.46	0.49	0.73	1.12	1.66	2.84	2.11	0.85	1.00	0.52
Long-Term Debt to EBITDA	0.74	0.91	0.91	1.08	1.82	2.07	3.57	3.13	1.78	1.55	1.06
Debt to NOPAT	1.31	1.56	1.60	2.04	6.67	11.97	-55.40	424.92	5.40	3.73	2.08
Net Debt to NOPAT	0.39	0.79	0.86	1.37	3.56	8.34	-44.08	286.19	2.57	2.41	1.03
Long-Term Debt to NOPAT	1.18	1.56	1.60	2.04	5.79	10.39	-55.40	424.92	5.40	3.73	2.08
Altman Z-Score	3.34	3.22	3.33	3.33	3.07	2.79	2.80	2.87	3.05	2.95	3.12
Noncontrolling Interest Sharing Ratio	7.62%	4.16%	4.17%	4.15%	4.23%	0.69%	0.69%	0.69%	0.69%	0.72%	0.69%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.13	2.21	2.17	2.12	1.81	1.65	1.87	1.82	1.91	1.94	1.79
Quick Ratio	1.20	1.11	1.05	0.92	0.86	0.67	0.70	0.78	0.94	0.85	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	929	-68	535	516	408	280	389	810	698	149	940
Operating Cash Flow to CapEx	2,106.94%	187.28%	358.90%	269.47%	577.57%	-81.93%	-103.49%	538.53%	685.59%	6.15%	448.04%
Free Cash Flow to Firm to Interest Expense	19.08	-1.37	13.16	11.35	10.10	7.27	7.93	15.29	13.69	2.33	22.93
Operating Cash Flow to Interest Expense	28.73	4.65	7.79	4.97	17.52	-3.65	-1.82	11.08	15.86	0.13	11.15
Operating Cash Flow Less CapEx to Interest Expense	27.37	2.17	5.62	3.13	14.48	-8.10	-3.57	9.02	13.55	-1.91	8.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.79	1.78	1.75	1.77	1.66	1.66	1.62	1.57	1.58	1.62	1.59
Accounts Receivable Turnover	17.73	18.65	18.32	19.09	18.15	19.21	17.88	17.80	20.24	22.51	17.25
Inventory Turnover	8.42	9.29	7.78	8.14	8.80	9.45	8.73	8.53	9.08	9.15	7.86
Fixed Asset Turnover	5.00	4.80	4.75	4.77	4.53	4.34	4.26	4.11	4.12	4.11	4.25
Accounts Payable Turnover	11.57	12.55	11.68	12.52	11.69	12.17	12.12	11.64	11.76	11.87	10.21
Days Sales Outstanding (DSO)	20.59	19.57	19.92	19.12	20.11	19.00	20.41	20.51	18.03	16.21	21.16
Days Inventory Outstanding (DIO)	43.35	39.31	46.89	44.83	41.49	38.63	41.79	42.78	40.19	39.90	46.43
Days Payable Outstanding (DPO)	31.55	29.08	31.26	29.15	31.24	30.00	30.12	31.35	31.05	30.74	35.73
Cash Conversion Cycle (CCC)	32.39	29.80	35.56	34.80	30.37	27.63	32.08	31.94	27.18	25.37	31.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,570	11,622	11,714	11,727	11,078	11,184	11,382	11,151	10,812	11,040	11,098
Invested Capital Turnover	2.87	2.75	2.66	2.64	2.63	2.51	2.42	2.35	2.46	2.42	2.46
Increase / (Decrease) in Invested Capital	-95	14	-212	-346	-493	-438	-332	-576	-266	-144	-284
Enterprise Value (EV)	11,854	11,047	12,144	11,978	9,979	8,501	8,390	9,609	11,174	10,332	12,681
Market Capitalization	10,108	9,594	10,638	10,141	8,505	6,595	6,195	7,740	9,792	8,476	11,247
Book Value per Share	$53.36	$56.60	$51.37	$51.47	$50.33	$49.31	$48.76	$49.27	$50.41	$49.93	$53.61
Tangible Book Value per Share	$31.99	$34.61	$31.47	$30.96	$29.77	$28.38	$28.06	$28.56	$29.52	$28.55	$33.15
Total Capital	13,785	12,976	12,955	12,593	12,307	11,984	11,929	12,025	12,263	12,018	12,500
Total Debt	3,170	2,739	2,679	2,636	2,637	2,638	2,676	2,677	2,768	2,769	2,771
Total Long-Term Debt	2,862	2,739	2,679	2,636	2,287	2,288	2,676	2,677	2,768	2,769	2,771
Net Debt	955	1,385	1,438	1,769	1,407	1,838	2,129	1,803	1,317	1,791	1,369
Capital Expenditures (CapEx)	66	123	88	84	123	171	86	109	118	130	102
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,018	2,017	2,164	2,217	1,514	1,521	1,776	1,458	1,243	1,349	1,701
Debt-free Net Working Capital (DFNWC)	4,233	3,371	3,405	3,084	2,743	2,321	2,323	2,332	2,694	2,327	2,849
Net Working Capital (NWC)	3,925	3,371	3,405	3,084	2,393	1,971	2,323	2,332	2,694	2,327	2,849
Net Nonoperating Expense (NNE)	8.78	-20	6.85	17	-10	54	59	25	28	32	6.20
Net Nonoperating Obligations (NNO)	955	1,385	1,438	1,769	1,407	1,838	2,129	1,803	1,317	1,791	1,369
Total Depreciation and Amortization (D&A)	196	212	199	205	210	218	225	226	230	228	229
Debt-free, Cash-free Net Working Capital to Revenue	6.06%	6.31%	6.88%	7.05%	5.09%	5.32%	6.36%	5.43%	4.62%	5.02%	6.16%
Debt-free Net Working Capital to Revenue	12.72%	10.55%	10.83%	9.81%	9.22%	8.12%	8.32%	8.68%	10.01%	8.66%	10.31%
Net Working Capital to Revenue	11.79%	10.55%	10.83%	9.81%	8.05%	6.90%	8.32%	8.68%	10.01%	8.66%	10.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.23	($0.35)	$1.57	$0.79	($0.40)	($1.05)	($0.02)	$1.10	$2.15	($0.15)	$3.56
Adjusted Weighted Average Basic Shares Outstanding	185.46M	190.04M	198.71M	191.51M	189.84M	192.07M	188.49M	188.11M	186.50M	186.47M	180.65M
Adjusted Diluted Earnings per Share	$4.23	($0.35)	$1.57	$0.79	($0.40)	($1.05)	($0.02)	$1.10	$2.15	($0.15)	$3.56
Adjusted Weighted Average Diluted Shares Outstanding	185.46M	190.04M	198.71M	191.51M	189.84M	192.07M	188.49M	188.11M	186.50M	186.47M	180.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	179.67M	198.57M	192.16M	190.82M	188.15M	188.41M	188.41M	187.08M	183.95M	180.27M	180.28M
Normalized Net Operating Profit after Tax (NOPAT)	834	-54	323	170	-78	-158	57	235	433	4.90	656
Normalized NOPAT Margin	9.36%	-0.70%	4.60%	2.17%	-1.08%	-2.43%	0.89%	3.46%	5.97%	0.08%	9.21%
Pre Tax Income Margin	11.90%	-0.94%	5.72%	2.26%	-1.82%	-3.54%	-0.02%	3.63%	7.28%	-0.63%	11.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	22.21	-1.23	10.16	4.32	-2.91	-5.62	0.57	5.32	11.02	0.03	21.02
NOPAT to Interest Expense	17.13	-1.09	7.95	3.75	-2.09	-4.11	1.16	4.43	8.48	0.08	16.00
EBIT Less CapEx to Interest Expense	20.84	-3.72	7.99	2.47	-5.94	-10.07	-1.18	3.26	8.71	-2.00	18.54
NOPAT Less CapEx to Interest Expense	15.76	-3.57	5.78	1.90	-5.13	-8.57	-0.60	2.37	6.17	-1.95	13.52
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	18.66%	41.55%	42.53%	54.24%	185.60%	213.59%	-289.63%	-493.67%	97.25%	65.87%	30.69%
Augmented Payout Ratio	70.50%	99.94%	98.75%	156.66%	415.48%	578.80%	-661.48%	-722.78%	152.25%	126.28%	65.43%

Financials Breakdown Chart

Key Financial Trends

HF Sinclair (DINO) has delivered mixed quarterly results in 2025, with a standout performance in Q3 followed by a softer showing in Q4. The company’s quarterly revenue has hovered around 6.4 to 7.3 billion, while gross profit and margins have remained positive but modest. Cash flow has been volatile as well: strong operating cash flow in mid-year gave way to a sizable cash outflow in Q4, largely tied to financing activity and capital spending. The balance sheet shows a growing long-term debt load and fluctuating but generally solid liquidity, with cash balances peaking in the first half of 2025 before the December quarter’s cash outflow.

Key trends to watch moving forward include ongoing capital expenditures (PPE) weighing on investing cash flow, a rising debt balance, and the sensitivity of quarterly net income to commodity prices and financing costs. Retail investors should factor these dynamics into assessments of DINO’s near-term profitability and cash-generation ability.

Q3 2025 net income of $405 million, marking a profitable quarter after several swings in 2025.
Q3 2025 net cash from continuing operating activities of $809 million, indicating strong operating cash flow for the quarter.
Q3 2025 revenue of $7.251 billion, suggesting a robust top line relative to earlier quarters in 2025.
Q3 2025 gross profit of about $903 million, with gross margin roughly in the low teens (positive margin despite overall volatility).
Q3 2025 cash balance around $1.45 billion, indicating improved liquidity on the balance sheet (cash and equivalents).
Depreciation expense in Q3 2025 of about $230 million, a large non-cash deduction that supports operating cash flow but reduces reported income.
Capital expenditures on PPE in 2025 quarters (e.g., roughly $121–$131 million per quarter), indicating ongoing investment in asset base and capacity expansion.
Q4 2025 net income of $-27 million, reflecting a quarterly loss despite earlier positive quarters.
Q4 2025 net change in cash and equivalents of about $-473 million, driven by overall cash outflows including financing and invest activities.
Long-term debt trending higher and around $2.77 billion by Q3 2025, contributing to a higher leverage profile.

05/05/26 03:57 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About HF Sinclair's Financials

When does HF Sinclair's financial year end?

According to the most recent income statement we have on file, HF Sinclair's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has HF Sinclair's net income changed over the last 5 years?

HF Sinclair's net income appears to be on an upward trend, with a most recent value of $586 million in 2025, falling from -$514.90 million in 2020. The previous period was $184 million in 2024. Find out what analysts predict for HF Sinclair in the coming months.

What is HF Sinclair's operating income?

HF Sinclair's total operating income in 2025 was $927 million, based on the following breakdown:

Total Gross Profit: $2.30 billion
Total Operating Expenses: $1.37 billion

How has HF Sinclair's revenue changed over the last 5 years?

Over the last 5 years, HF Sinclair's total revenue changed from $11.18 billion in 2020 to $26.87 billion in 2025, a change of 140.3%.

How much debt does HF Sinclair have?

HF Sinclair's total liabilities were at $7.26 billion at the end of 2025, a 0.5% decrease from 2024, and a 9.6% increase since 2021.

How much cash does HF Sinclair have?

In the past 4 years, HF Sinclair's cash and equivalents has ranged from $234.44 million in 2021 to $1.67 billion in 2022, and is currently $978 million as of their latest financial filing in 2025.

How has HF Sinclair's book value per share changed over the last 5 years?

Over the last 5 years, HF Sinclair's book value per share changed from 0.00 in 2020 to 49.93 in 2025, a change of 4,992.7%.

Related Companies

Financial statements for NYSE:DINO last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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HF Sinclair (DINO) Financials

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HF Sinclair (DINO) Financials

Annual Income Statements for HF Sinclair

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Quarterly Metrics And Ratios for HF Sinclair

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