| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 2 | — | — | 4 | 5 | — | — | — | — | 5 | 3 |
| total | individual payouts | |
|---|---|---|
| 2026 | ‡‡‡‡‡ |
|
| 2025 | ‡‡‡‡ |
|
| 2024 | ‡‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 279.45 | 192.27 | 164.46 | 186.85 |
| Receivables | 367.25 | 398.13 | 312.67 | 514.38 |
| Inventory | 1,160.40 | 1,089.32 | 1,228.79 | 1,441.16 |
| Other | — | — | — | — |
| 1,989.50 | 1,772.24 | 1,776.09 | 2,454.31 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 391.33 | 436.80 | 341.56 | 539.48 |
| ST’ Debt | 4.26 | 4.89 | 4.93 | 1.05 |
| Other | 594.36 | 194.20 | 161.49 | 162.31 |
| 1,524.60 | 1,096.27 | 1,106.14 | 1,333.65 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,823.75 | 2,968.87 | — | — |
—
|
| ’25 | 1,745.04 | 1,893.44 | 2,012.94 | 1,813.24 |
7,464.65
|
| ’24 | 1,980.84 | 2,017.47 | 2,143.93 | 1,832.22 |
7,974.46
|
| ’23 | 1,685.21 | 1,783.93 | 2,579.31 | 2,183.51 |
8,231.96
|
| ’22 | 1,350.29 | 2,106.33 | 2,056.29 | 1,808.88 |
7,321.79
|
| ’21 | 888.68 | 1,217.53 | 1,310.37 | 1,293.52 |
4,710.09
|
| ’20 | 1,204.08 | 515.30 | 689.98 | 715.51 |
3,124.87
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (40.71) | 282.57 | — | — |
—
|
| ’25 | (1.40) | 133.58 | 219.36 | 93.80 |
445.34
|
| ’24 | 25.43 | (4.68) | 78.49 | (15.47) |
83.78
|
| ’23 | 139.10 | 173.15 | 269.21 | (2.29) |
579.16
|
| ’22 | (7.68) | 35.34 | 341.40 | 83.55 |
452.61
|
| ’21 | (30.74) | 32.55 | 52.78 | (82.22) |
(27.62)
|
| ’20 | 14.50 | 19.27 | (7.81) | (63.17) |
(37.21)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (83.78) | 242.86 | — | — |
—
|
| ’25 | (42.32) | 87.71 | 187.09 | 70.07 |
302.55
|
| ’24 | 2.80 | (41.52) | 50.16 | (63.14) |
(51.70)
|
| ’23 | 125.93 | 155.63 | 246.22 | (29.58) |
498.20
|
| ’22 | (23.96) | 22.66 | 332.69 | 69.45 |
400.84
|
| ’21 | 63.94 | 26.72 | 46.29 | (89.94) |
47.01
|
| ’20 | (0.44) | 4.05 | (20.08) | (84.20) |
(100.68)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1.10 | 9.35 | — | — |
—
|
| ’25 | (0.57) | 1.17 | 5.16 | 1.53 |
7.16
|
| ’24 | (0.06) | 0.32 | 0.13 | (1.01) |
(0.59)
|
| ’23 | 3.90 | 0.49 | 2.79 | 4.77 |
11.94
|
| ’22 | (2.31) | 2.50 | 4.47 | 1.40 |
6.08
|
| ’21 | (1.15) | (1.84) | 1.37 | 0.14 |
(1.40)
|
| ’20 | (4.18) | (0.76) | (0.27) | (2.47) |
(7.68)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 11.66 | 20.30 | 14.84 | 11.86 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 25.38 | 37.50 | 40.70 | 48.40 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,397 | 1,814 | 1,787 | 1,758 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.24 | 4.54 | 4.46 | 4.25 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,321.79 | 8,231.96 | 7,974.46 | 7,464.65 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.92% | 16.93% | 10.95% | 18.15% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 364.90 | 613.31 | (39.02) | 477.87 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.98% | 7.45% | (0.49%) | 6.40% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 364.19 | 728.64 | (33.32) | 367.09 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 99.77 | 119.83 | 131.59 | 144.33 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 122.96 | 137.12 | 140.46 | 147.11 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 6.12 | 12.14 | (0.59) | 7.28 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.60 | 9.65 | 1.48 | 8.78 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.87) | (1.35) | (2.39) | (2.81) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.73 | 8.30 | (0.91) | 5.96 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 10.82 | 22.24 | 20.98 | 29.79 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 59.54 | 60.04 | 56.78 | 50.74 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 3.61 | 3.00 | 0.00 | 4.70 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.18 | 0.27 | 0.12 | 0.24 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.04 | 1.64 | 0.78 | 1.18 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.18 | 0.31 | 0.23 | 0.33 | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.32 | 5.18 | (36.03) | 8.04 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 452.61 | 579.16 | 83.78 | 445.34 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (51.76) | (80.95) | (135.48) | (142.78) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 400.84 | 498.20 | (51.70) | 302.55 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 87.75 | 464.89 | 675.98 | 669.96 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 511.84 | 663.30 | 1,124.66 | 814.87 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.92 | 383.85 | 932.39 | 650.41 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 644.54 | 1,335.42 | 1,191.30 | 1,511.54 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.45% | 20.40% | (0.87%) | 9.64% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 41.38% | 24.72% | 1.40% | 15.58% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 80.02% | 73.60% | (2.64%) | 27.33% | ‡‡‡‡‡ | — | — |
ROE
|
Par Pacific Holdings (PARR) has evolved from a modest refiner into a diversified downstream powerhouse across Hawaii, the Rockies, and Pacific Northwest, driving revenue from $1.87 billion in 2016 to a peak of $8.23 billion in 2023—a 340% surge fueled by acquisitions, high crack spreads, and post-pandemic demand. Yet, profitability remains volatile: EBT margins hit 7.5% in 2023 amid Ukraine-driven diesel booms, only to flip to losses in 2024 due to maintenance and softening spreads. Balance sheet strength shines with equity up 107% to $1.34 billion by 2023 and attractive valuations (P/E at 3.0x peak, current PS at 0.12x), though rising debt to $1.12 billion in 2024 warrants caution.
Analysts forecast revenue contraction to $6.33 billion by 2026 before a rebound, with EPS recovering sharply to $6.09 in 2025 and stabilizing near $3.70, supported by renewables pivots and logistics assets like Hawaii’s jet fuel monopoly. Stock price has mirrored cycles, holding near 2023 highs despite 2024 dips, with 33% upside to high targets. Insider selling—$5.8 million with no buys, including CEO transactions—adds skepticism amid cycle risks from OPEC cuts and EV shifts.
This high-drama refiner offers mean-reversion potential for patient investors, blending fortified fundamentals, undervaluation, and analyst bets on $350-190 million annual net income ahead—but cyclical pitfalls and bearish insider signals demand scrutiny.
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