A Business at a Glance
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PAR PACIFIC HOLDINGS, INC.
PARR
$4.0B
Mkt Cap
$77.39
-0.28%
PAR PACIFIC HOLDINGS, INC. (PARR) has a current P/E ratio of 10.8, compared to its historical median P/E of 8.7. The stock is currently considered Fair based on its historical valuation range.
PAR PACIFIC HOLDINGS, INC. (PARR) has a 5-year average return on invested capital (ROIC) of 23.9%. This indicates strong capital allocation and a potential competitive advantage.
PAR PACIFIC HOLDINGS, INC. (PARR) has a market capitalization of $3.8B. It is classified as a mid-cap stock.
PAR PACIFIC HOLDINGS, INC. (PARR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.90%.
Based on historical P/E analysis, PAR PACIFIC HOLDINGS, INC. (PARR) appears fair. The current P/E of 10.8 is 25% above its historical median of 8.7. The estimated fair value CAGR (P/E method) is 49.4%.
PAR PACIFIC HOLDINGS, INC. (PARR) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
Our business is organized into three primary segments: 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.5B | 7.5B | 8.0B | 8.2B | 7.3B | 4.7B |
| Net Income | 454M | 369M | -33M | 729M | 364M | -81M |
| EPS | $9.07 | $7.16 | $-0.59 | $11.94 | $6.08 | $-1.40 |
| Free Cash Flow | 255M | 296M | -52M | 497M | 400M | -57M |
| ROIC | 21.0% | 17.7% | 2.2% | 50.0% | 50.4% | -0.8% |
| Gross Margin | - | 11.6% | 4.7% | 11.7% | 9.1% | 4.3% |
| Debt/Equity | 0.63 | 0.80 | 1.31 | 0.75 | 1.34 | 3.59 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 620M | 539M | 48M | 680M | 438M | -7.6M |
| Operating Margin | 8.2% | 7.2% | 0.6% | 8.3% | 6.0% | -0.2% |
| ROE | 30.0% | 27.3% | -2.6% | 73.6% | 80.0% | -31.8% |
| Shares Outstanding | 49M | 52M | 56M | 61M | 60M | 58M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.1B | 2.1B | 1.9B | 2.4B | 3.4B | 5.4B | 3.1B | 4.7B | 7.3B | 8.2B | 8.0B | 7.5B | 7.5B |
| Gross Margin | 5.5% | 7.1% | 4.4% | 8.9% | 6.5% | 6.6% | -8.9% | 4.3% | 9.1% | 11.7% | 4.7% | 11.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 34M | 44M | 42M | 46M | 47M | 46M | 41M | 48M | 62M | 91M | 109M | 98M | 99M |
| EBIT | -38M | 62M | -20M | 94M | 82M | 148M | -318M | -7.6M | 438M | 680M | 48M | 539M | 620M |
| Op. Margin | -1.2% | 3.0% | -1.1% | 3.8% | 2.4% | 2.7% | -10.2% | -0.2% | 6.0% | 8.3% | 0.6% | 7.2% | 8.2% |
| Net Income | -47M | -40M | -46M | 72M | 39M | 40M | -409M | -81M | 364M | 729M | -33M | 369M | 454M |
| Net Margin | -1.5% | -1.9% | -2.5% | 2.9% | 1.1% | 0.7% | -13.1% | -1.7% | 5.0% | 8.9% | -0.4% | 4.9% | 6.0% |
| Non-Recurring | 1.2M | 7.0M | 0 | 0 | 0 | 0 | 86M | 67M | 169K | 59K | -222K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -13.1% | 18.3% | -7.6% | 13.4% | 10.5% | 12.4% | -38.2% | -0.8% | 50.4% | 50.0% | 2.2% | 17.7% | 21.0% |
| ROE | -18.1% | -12.6% | -12.9% | 17.6% | 8.1% | 7.0% | -91.5% | -31.8% | 80.0% | 73.6% | -2.6% | 27.3% | 30.0% |
| ROA | -6.1% | -4.9% | -4.5% | 5.8% | 2.8% | 1.9% | -16.9% | -3.5% | 12.4% | 20.4% | -0.9% | 9.6% | 10.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -55M | 132M | -23M | 106M | 91M | 106M | -37M | -28M | 453M | 579M | 84M | 445M | 406M |
| Free Cash Flow | -69M | 110M | -48M | 75M | 42M | 22M | -101M | -57M | 400M | 497M | -52M | 296M | 255M |
| Owner Earnings | -73M | 107M | -62M | 53M | 32M | 13M | -135M | -130M | 343M | 448M | -74M | 284M | 247M |
| CapEx | 14M | 22M | 25M | 32M | 48M | 84M | 64M | 30M | 53M | 82M | 136M | 149M | 151M |
| Maint. CapEx | 15M | 20M | 32M | 46M | 53M | 86M | 90M | 94M | 100M | 120M | 132M | 144M | 142M |
| Growth CapEx | 0 | 2.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.9M | 4.5M | 8.8M |
| D&A | 15M | 20M | 32M | 46M | 53M | 86M | 90M | 94M | 100M | 120M | 132M | 144M | 142M |
| CapEx/OCF | N/A | 16.9% | N/A | 29.8% | 53.5% | 79.4% | N/A | N/A | 11.7% | 14.2% | 161.8% | 33.4% | 37.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.0M | 0 | 0 | 0 | 0 | 1.2M | 2.1M | 7.8M | 68M | 142M | 125M | 110M |
| Buyback Yield | N/A | 0.1% | N/A | N/A | N/A | N/A | N/A | 0.2% | 0.6% | 3.0% | 15.5% | 6.9% | 2.9% |
| Stock-Based Comp | 4.0M | 5.2M | 6.6M | 7.2M | 6.2M | 6.4M | 7.3M | 8.2M | 9.4M | 12M | 26M | 17M | 17M |
| Debt Repayment | 0 | 0 | 202M | 604M | 119M | 241M | 159M | 329M | 447M | 1.3B | 4.1B | 6.4B | 6.4B |
| Balance Sheet | |||||||||||||
| Net Debt | 42M | -2.6M | 323M | 266M | 318M | 907M | 1.0B | 841M | 373M | 727M | 1.4B | 1.1B | 775M |
| Cash & Equiv. | 89M | 168M | 48M | 118M | 75M | 126M | 68M | 112M | 491M | 279M | 192M | 164M | 172M |
| Long-Term Debt | 102M | 154M | 350M | 385M | 393M | 600M | 649M | 554M | 495M | 647M | 1.1B | 798M | 943M |
| Debt/Equity | 0.45 | 0.49 | 1.00 | 0.86 | 0.77 | 1.59 | 4.34 | 3.59 | 1.34 | 0.75 | 1.31 | 0.80 | 0.63 |
| Interest Coverage | -2.1 | 3.1 | -0.7 | 3.0 | 2.1 | 2.0 | -4.5 | -0.1 | 6.4 | 9.4 | 0.6 | 6.5 | 646.4 |
| Equity | 292M | 341M | 369M | 448M | 512M | 648M | 246M | 266M | 645M | 1.3B | 1.2B | 1.5B | 1.5B |
| Total Assets | 735M | 892M | 1.1B | 1.3B | 1.5B | 2.7B | 2.1B | 2.6B | 3.3B | 3.9B | 3.8B | 3.8B | 4.2B |
| Total Liabilities | 443M | 552M | 777M | 900M | 948M | 2.1B | 1.9B | 2.3B | 2.6B | 2.5B | 2.6B | 2.3B | 2.7B |
| Intangibles | 7.5M | 34M | 30M | 27M | 24M | 22M | 19M | 16M | 14M | 11M | 9.5M | 9.5M | 9.7M |
| Retained Earnings | -135M | -175M | -221M | -148M | -109M | -68M | -477M | -559M | -201M | 466M | 296M | 541M | 568M |
| Working Capital | 150M | 167M | 20M | 133M | 79M | -2.1M | -242M | -226M | 88M | 465M | 676M | 670M | 826M |
| Current Assets | 461M | 532M | 403M | 604M | 587M | 1.0B | 636M | 1.1B | 1.9B | 2.0B | 1.8B | 1.8B | 2.2B |
| Current Liabilities | 311M | 365M | 383M | 471M | 507M | 1.0B | 879M | 1.4B | 1.8B | 1.5B | 1.1B | 1.1B | 1.3B |
| Per Share Data | |||||||||||||
| EPS | -1.44 | -1.06 | -1.08 | 1.57 | 0.85 | 0.80 | -7.68 | -1.40 | 6.08 | 11.94 | -0.59 | 7.16 | 9.07 |
| Owner EPS | -2.25 | 2.85 | -1.45 | 1.17 | 0.69 | 0.26 | -2.53 | -2.24 | 5.73 | 7.34 | -1.30 | 5.51 | 5.01 |
| Book Value | 8.94 | 9.05 | 8.69 | 9.80 | 11.20 | 12.85 | 4.62 | 4.58 | 10.76 | 21.88 | 21.09 | 29.30 | 30.77 |
| Cash Flow/Share | -1.67 | 3.52 | -0.55 | 2.33 | 1.98 | 2.09 | -0.70 | -0.48 | 7.56 | 9.49 | 1.48 | 8.63 | 12.11 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 32.7M | 37.7M | 42.4M | 45.7M | 45.7M | 50.5M | 53.3M | 58.1M | 59.9M | 61.0M | 56.5M | 51.6M | 49.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | 12.4 | 16.5 | 29.6 | N/A | N/A | 3.6 | 3.1 | N/A | 4.9 | 8.5 |
| P/FCF | N/A | 8.0 | N/A | 11.9 | 15.2 | 55.0 | N/A | N/A | 3.3 | 4.5 | N/A | 6.1 | 15.0 |
| EV/EBIT | N/A | 14.2 | N/A | 12.3 | 11.7 | 11.4 | N/A | N/A | 2.0 | 3.4 | 34.6 | 4.2 | 7.4 |
| Price/Book | 1.8 | 2.6 | 1.7 | 2.0 | 1.2 | 1.8 | 2.9 | 3.4 | 2.1 | 1.7 | 0.8 | 1.2 | 2.5 |
| Price/Sales | 0.2 | 0.4 | 0.4 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.5 |
| FCF Yield | -13.2% | 12.6% | -7.8% | 8.4% | 6.6% | 1.8% | -14.1% | -6.3% | 30.1% | 22.3% | -5.7% | 16.4% | 6.7% |
| Market Cap | 523M | 876M | 620M | 892M | 640M | 1.2B | 713M | 910M | 1.3B | 2.2B | 914M | 1.8B | 3.8B |
| Avg. Price | 18.60 | 21.04 | 16.74 | 17.51 | 17.84 | 20.49 | 11.01 | 15.25 | 17.14 | 29.15 | 26.35 | 26.81 | 77.39 |
| Year-End Price | 16.00 | 23.26 | 14.62 | 19.53 | 13.99 | 23.66 | 13.38 | 15.67 | 22.17 | 36.59 | 16.19 | 35.01 | 77.39 |
PAR PACIFIC HOLDINGS, INC. passes 7 of 9 quality checks, indicating strong fundamentals.
PAR PACIFIC HOLDINGS, INC. trades at 10.8x trailing earnings, compared to its 15-year median P/E of 8.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.8x vs a median of 9.0x. The company's 5-year average ROIC is 23.9% with a gross margin of 8.3%. Total shareholder yield (buybacks) is 2.9%. At current prices, the estimated annualized return to fair value is +50.3%.
PAR PACIFIC HOLDINGS, INC. (PARR) reported annual revenue of $7.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
PAR PACIFIC HOLDINGS, INC. (PARR) has a net profit margin of 4.9%. This is a modest margin.
PAR PACIFIC HOLDINGS, INC. (PARR) generated $296 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PAR PACIFIC HOLDINGS, INC. (PARR) has a debt-to-equity ratio of 0.80. This indicates moderate leverage.
PAR PACIFIC HOLDINGS, INC. (PARR) reported earnings per share (EPS) of $7.16 in its most recent fiscal year.
PAR PACIFIC HOLDINGS, INC. (PARR) has a return on equity (ROE) of 27.3%. This indicates the company generates strong returns for shareholders.
PAR PACIFIC HOLDINGS, INC. (PARR) has a 5-year average gross margin of 8.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for PAR PACIFIC HOLDINGS, INC. (PARR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PAR PACIFIC HOLDINGS, INC. (PARR) has a book value per share of $29.30, based on its most recent annual SEC filing.