Par Pacific Holdings Inc. (PARR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$8.15	$10.1	+23.9%	—	$3B	—
Q1 26	$0.99	$0.78	-21.2%	—	$1.8B	—
Q4 25	$1.28	$1.17	-8.6%	—	$1.8B	—
Q3 25	$1.96	$5.95	+203.6%	—	$2B	—
Q2 25	$0.9	$1.54	+71.1%	—	$1.9B	—
Q1 25	-$0.79	-$0.94	-19.0%	—	$1.7B	—
Q4 24	-$0.97	-$0.79	+18.6%	—	$1.8B	—
Q3 24	-$0.12	-$0.1	+16.7%	—	$2.1B	—
Q2 24	$0.17	$0.49	+188.2%	—	$2B	—
Q1 24	$0.9	$0.69	-23.3%	—	$2B	—
Q4 23	$1.06	$1.08	+1.9%	—	$2.2B	—
Q3 23	$3.11	$3.15	+1.3%	—	$2.6B	—
Q2 23	$1.21	$1.73	+43.0%	—	$1.8B	—
Q1 23	$1.95	$2.25	+15.4%	—	$1.7B	—
Q4 22	$1.9	$2.2	+15.8%	—	$1.8B	—
Q3 22	$2	$2.88	+44.0%	—	$2.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.28	—	—	$7.5B	—
FY24	—	-$0.59	—	—	$8B	—
FY23	—	$12.1	—	—	$8.2B	—
FY22	—	$6.12	—	—	$7.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.9B	$2.4B	$3.4B	$5.4B	$3.1B	$4.7B	$7.3B	$8.2B	$8B	$7.5B
YoY change	-9.74%	+31%	+39.6%	+58.4%	-42.1%	+50.7%	+55.4%	+12.4%	-3.13%	-6.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.9B	2.4B	3.4B	5.4B	3.1B	4.7B	7.3B	8.2B	8B	7.5B
Cost of revenue	1.7B	2.1B	3.1B	4.9B	3B	4.4B	6.5B	7B	7.2B	6.3B
Gross profit	197.1M	342.4M	355M	511.8M	87.1M	277.4M	846M	1.3B	741.7M	1.2B
Gross margin	10.6%	14%	10.4%	9.48%	2.79%	5.89%	11.6%	15.5%	9.3%	16.2%
Research & development	—	—	—	—	—	9.6M	9M	11.4M	—	—
Selling, general & administrative	42.1M	46.1M	47.4M	46.2M	41.3M	48.1M	62.4M	91.4M	108.8M	98.5M
Operating expenses	211.4M	248.1M	262.7M	359.1M	318.7M	347.8M	404.6M	588.4M	705.7M	700.9M
Operating income	-14.4M	94.4M	92.3M	152.7M	-231.6M	-70.4M	441.4M	685.6M	36M	509.6M
Operating margin	-0.77%	3.86%	2.7%	2.83%	-7.41%	-1.49%	6.03%	8.33%	0.45%	6.83%
Non-operating income, net	-10.9M	8.6M	-12.7M	-106.7M	-128M	56.6M	-8.2M	171K	7.7M	50.7M
Pretax income	-53.7M	71.3M	39.8M	-28.9M	-429.8M	-80.3M	364.9M	613.3M	-39M	477.9M
Income tax	-7.9M	-1.3M	333K	-69.7M	-20.7M	1M	710K	-115.3M	-5.7M	110.8M
Net income	-45.8M	72.6M	39.4M	40.8M	-409.1M	-81.3M	364.2M	728.6M	-33.3M	367.1M
Net margin	-2.46%	2.97%	1.16%	0.76%	-13.1%	-1.73%	4.97%	8.85%	-0.42%	4.92%
EBITDA	-5.1M	159.6M	155.4M	151.6M	-187.4M	23.8M	541.8M	842.2M	177.4M	702.8M
EPS	-1.08	1.58	0.85	0.8	-7.68	-1.4	6.12	12.1	-0.59	7.28
Diluted EPS	-1.08	1.57	0.85	0.8	-7.68	-1.4	6.08	11.9	-0.59	7.16

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.6B	2.2B	2B	2B	2.1B	1.8B	1.7B	1.9B	2B	1.8B	1.8B	3B
Cost of revenue	2.2B	1.8B	1.8B	1.8B	1.9B	1.7B	1.6B	1.6B	1.5B	1.5B	1.6B	2.2B
Gross profit	369.6M	351.7M	200.7M	215.1M	206.9M	119M	149.1M	265.2M	523M	273.2M	230.8M	816.2M
Gross margin	14.3%	16.1%	10.1%	10.7%	9.65%	6.5%	8.54%	14%	26%	15.1%	12.7%	27.5%
Research & development	3.1M	2.9M	2M	3.1M	4M	—	—	—	—	—	—	—
Selling, general & administrative	23.7M	25.3M	41.8M	23.2M	22.4M	21.5M	24.2M	23.6M	24.2M	26.3M	24.9M	28M
Operating expenses	172M	183.6M	199M	173.4M	177.5M	164.9M	172.4M	177M	168.8M	182.7M	171.2M	188.8M
Operating income	197.6M	168M	3.7M	44.8M	33.4M	-45.9M	-23.3M	88.2M	354.2M	90.5M	59.6M	627.4M
Operating margin	7.66%	7.7%	0.19%	2.22%	1.56%	-2.5%	-1.33%	4.66%	17.6%	4.99%	3.27%	21.1%
Non-operating income, net	-778K	19.7M	7.8M	931K	3.9M	-4.9M	7.8M	10.2M	12.4M	20.1M	14.9M	-6.1M
Pretax income	176M	167.2M	-6.4M	25.3M	13.9M	-71.9M	-37.3M	76.3M	345.3M	93.5M	58.5M	607M
Income tax	4.6M	-122.1M	-2.6M	6.7M	6.5M	-16.2M	-6.9M	16.9M	82.7M	18.1M	12.3M	144M
Net income	171.4M	289.3M	-3.8M	18.6M	7.5M	-55.7M	-30.4M	59.5M	262.6M	75.4M	46.2M	462.9M
Net margin	6.65%	13.3%	-0.19%	0.92%	0.35%	-3.04%	-1.74%	3.14%	13%	4.16%	2.53%	15.6%
EBITDA	236.8M	221.4M	44.5M	79.2M	69.2M	-15.5M	21.2M	131.9M	404.9M	144.8M	109M	669.5M
EPS	2.85	4.87	-0.06	0.33	0.13	-1.01	-0.57	1.18	5.29	1.58	1.12	9.53
Diluted EPS	2.79	4.77	-0.06	0.32	0.13	-1.01	-0.57	1.17	5.16	1.53	1.1	9.53

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	878.1M	648.4M	—	745.1M	960.8M	1.4B	2.2B	930.5M	—	3.9B
Enterprise value	—	1.5B	972.1M	—	1.8B	1.8B	1.8B	2.9B	2.3B	—	4.9B
Shares outstanding	42.3M	45.5M	45.7M	50.4M	53.3M	58.3M	59.5M	60M	56.8M	50.7M	50.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	12.1	16.4	—	—	—	3.8	3	—	—	4.55
P/S	—	0.36	0.19	—	0.24	0.2	0.19	0.27	0.12	—	0.45
P/B	—	1.96	1.27	—	3.03	3.62	2.15	1.64	0.78	—	1.94
EV/EBITDA	—	9.46	6.25	—	-9.36	76	3.26	3.47	13	—	3.82
EV/Sales	—	0.62	0.29	—	0.56	0.38	0.24	0.36	0.29	—	0.57
Earnings yield	—	8.27%	6.08%	—	—	—	26.3%	33.4%	—	—	22%
FCF yield	—	8.52%	6.51%	—	-13.5%	-5.95%	28.9%	22.8%	-5.56%	—	2.11%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	10.6%	14%	10.4%	9.48%	2.79%	5.89%	11.6%	15.5%	9.3%	16.2%	27.5%
Operating margin	-0.77%	3.86%	2.7%	2.83%	-7.41%	-1.49%	6.03%	8.33%	0.45%	6.83%	21.1%
Net margin	-2.46%	2.97%	1.16%	0.76%	-13.1%	-1.73%	4.97%	8.85%	-0.42%	4.92%	9.94%
ROE	-12.4%	16.2%	7.7%	6.3%	-166.1%	-30.6%	56.5%	54.6%	-2.8%	23.6%	53.5%
ROA	-4%	5.39%	2.7%	1.51%	-19.2%	-3.16%	11.1%	18.9%	-0.87%	9.58%	16.9%
ROIC	-2.07%	8.74%	10.9%	9.78%	-18.4%	-6.32%	43%	33%	1.4%	15%	29.3%
Return on tangible assets	-5.24%	6.73%	3.56%	1.8%	-22.2%	-3.56%	12.2%	20.3%	-0.94%	10.3%	19.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.05	1.28	1.16	1	0.72	0.83	1.05	1.3	1.62	1.61	1.84
Quick ratio	0.54	0.55	0.52	0.4	0.24	0.25	0.47	0.54	0.62	0.49	0.76
Debt / equity	1.01	1.67	0.78	1.6	4.38	3.62	1.35	0.76	1.32	0.79	0.56
Debt / assets	0.32	0.56	0.27	0.38	0.51	0.37	0.27	0.26	0.41	0.32	0.25
Net debt / EBITDA	-63.2	3.96	2.08	6.02	-5.39	35.7	0.7	0.88	7.75	1.51	0.71
Interest coverage	-0.89	3.25	2	0.61	-5.12	-0.21	6.34	9.47	0.53	6.8	17.1
Effective tax rate	0%	0%	0.84%	0%	0%	0%	0.19%	0%	0%	23.2%	23.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	44	53.6	74.6	107.3	58.6	80.8	123	137.1	140.5	147.1	176.1
EPS (basic)	-1.08	1.58	0.85	0.8	-7.68	-1.4	6.12	12.1	-0.59	7.28	7.28
EPS (diluted)	-1.08	1.57	0.85	0.8	-7.68	-1.4	6.08	11.9	-0.59	7.16	17.1
Book value per share	8.71	9.83	11.2	12.9	4.62	4.56	10.8	22.2	21	30.6	40.2
FCF per share	-1.14	1.64	0.92	0.43	-1.89	-0.98	6.71	8.28	-0.91	5.84	8.34
Cash per share	1.13	2.6	1.64	2.5	1.28	1.93	8.24	4.65	3.38	3.23	3.69
Capex per share	—	—	—	—	—	—	—	—	—	2.93	2.88

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	1.99%	1.65%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	33.4%	25.7%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.6B	$2.2B	$2B	$2B	$2.1B	$1.8B	$1.7B	$1.9B	$2B	$1.8B	$1.8B	$3B
YoY change	+25.4%	+20.7%	+17.5%	+13.1%	-16.9%	-16.1%	-11.9%	-6.15%	-6.11%	-1.04%	+4.51%	+56.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	47.8M	118.3M	75.1M	126M	68.3M	112.2M	490.9M	279.1M	191.9M	164.1M
Receivables	102.4M	121.8M	160.3M	228.7M	111.7M	195.1M	252.9M	367.2M	398.1M	312.7M
Inventory	198.3M	345.4M	322.1M	615.9M	429.9M	790.3M	1B	1.2B	1.1B	1.2B
Total current assets	403.1M	603.5M	586.6M	1B	636.5M	1.1B	1.9B	2B	1.8B	1.8B
Property, plant & equipment	37.1M	544.9M	25M	444.1M	315.6M	232.7M	135.7M	84M	72.6M	-51.6M
Goodwill & intangibles	271.3M	267.6M	354.7M	434.9M	293.8M	287M	285.8M	280.4M	277.6M	273.5M
Total assets	1.1B	1.3B	1.5B	2.7B	2.1B	2.6B	3.3B	3.9B	3.8B	3.8B
Accounts payable	65.2M	52.5M	54.8M	162.4M	106.9M	154.5M	151.4M	391.3M	436.8M	341.6M
Short-term debt	20.3M	363.8M	33K	92.3M	116.9M	64.5M	77M	77.1M	85.1M	104.5M
Total current liabilities	382.8M	471M	507.2M	1B	878.7M	1.4B	1.8B	1.5B	1.1B	1.1B
Long-term debt	351.9M	386M	398.7M	946.8M	960.9M	896.5M	793.6M	941.6M	1.5B	1.1B
Total liabilities	776.5M	899.7M	948.4M	2.1B	1.9B	2.3B	2.6B	2.5B	2.6B	2.3B
Shareholders' equity	368.9M	447.7M	512.3M	648.2M	246.3M	265.7M	644.5M	1.3B	1.2B	1.6B
Total debt	372.2M	749.8M	398.8M	1B	1.1B	961M	870.6M	1B	1.6B	1.2B
Net debt	324.4M	631.5M	323.7M	913.1M	1B	848.8M	379.7M	739.5M	1.4B	1.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	347.1M	279.1M	228.3M	179.7M	183M	191.9M	133.7M	169.2M	159.1M	164.1M	172.2M	185M
Receivables	527.4M	367.2M	448.5M	486.3M	429.7M	398.1M	384.3M	386.5M	349.1M	312.7M	481.5M	514.4M
Inventory	1.2B	1.2B	1.1B	1.3B	1.1B	1.1B	1.1B	1B	1.4B	1.2B	1.4B	1.4B
Total current assets	2.2B	2B	1.9B	2B	1.8B	1.8B	1.6B	1.7B	2B	1.8B	2.2B	2.5B
Property, plant & equipment	1.4B	84M	1.4B	1.5B	1.6B	72.6M	1.6B	1.6B	1.6B	-51.6M	1.6B	1.6B
Goodwill & intangibles	281.7M	280.4M	279.1M	278.6M	278.1M	277.6M	277.1M	276.6M	276.1M	273.5M	274M	274.4M
Total assets	3.9B	3.9B	3.8B	3.9B	3.9B	3.8B	3.8B	3.9B	4.1B	3.8B	4.2B	4.5B
Accounts payable	519.9M	391.3M	436.2M	549M	464.8M	436.8M	410.7M	438.7M	447.6M	341.6M	578.2M	539.5M
Short-term debt	917.8M	77.1M	73.1M	73.8M	79.5M	85.1M	93.1M	98M	101.6M	104.5M	105.1M	111.1M
Total current liabilities	1.9B	1.5B	1.4B	1.2B	1B	1.1B	1B	1.2B	1.3B	1.1B	1.3B	1.3B
Long-term debt	807.8M	941.6M	931.8M	1.4B	1.4B	1.5B	1.5B	1.5B	1.3B	1.1B	1.2B	1B
Total liabilities	2.8B	2.5B	2.5B	2.7B	2.6B	2.6B	2.6B	2.7B	2.7B	2.3B	2.7B	2.5B
Shareholders' equity	1.1B	1.3B	1.3B	1.3B	1.3B	1.2B	1.1B	1.1B	1.4B	1.6B	1.6B	2B
Total debt	1.7B	1B	1B	1.4B	1.5B	1.6B	1.6B	1.6B	1.4B	1.2B	1.4B	1.1B
Net debt	1.4B	739.5M	776.5M	1.3B	1.3B	1.4B	1.5B	1.4B	1.3B	1.1B	1.2B	946.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-45.8M	72.6M	39.4M	40.8M	-409.1M	-81.3M	364.2M	728.6M	-33.3M	367.1M
Depreciation & amortization	31.6M	46M	52.6M	86.1M	90M	94.2M	99.8M	119.8M	131.6M	144.3M
Stock-based compensation	6.6M	7.2M	6.2M	6.4M	7.3M	8.2M	9.4M	11.6M	25.7M	16.6M
Change in working capital	-11.6M	120.4M	-28.6M	31.6M	233.2M	237.4M	288.6M	7M	-74M	-59.1M
Operating cash flow	-52.5M	252.2M	81.2M	93.6M	-131.6M	244.4M	736.3M	739.7M	-18M	445.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	-148.9M
Investing cash flow	-316.4M	35K	-127.4M	-269.3M	58K	104.2M	-34.3M	-576.8M	1.5M	-142.8M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	-1.2M	-2.1M	-7.8M	-67.8M	-142M	-124.8M
Financing cash flow	190.1M	-9.2M	41.9M	292M	42.6M	-1.2M	7M	-152.7M	-38.5M	-331M
Net change in cash	-178.7M	243.1M	-4.3M	116.4M	-89M	347.4M	709M	10.2M	-54.9M	-28.4M
Free cash flow	-48.2M	74.8M	42.2M	21.7M	-100.7M	-57.2M	399.6M	496.9M	-51.8M	296.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	171.4M	289.3M	-3.8M	18.6M	7.5M	-55.7M	-30.4M	59.5M	262.6M	75.4M	46.2M	462.9M
Depreciation & amortization	35.3M	31.9M	32.7M	32.1M	31.9M	34.9M	36.6M	34.7M	36.3M	36.7M	34.5M	36.5M
Stock-based compensation	2.9M	2.7M	16.4M	3.1M	3M	3.2M	3.5M	4.5M	3.7M	4.8M	3.9M	4.4M
Change in working capital	162.9M	-195.9M	-134.6M	-25.4M	97.2M	-11.2M	2M	167.4M	-146.4M	-82.2M	-96.4M	-145.1M
Operating cash flow	372M	-1.9M	-103.8M	7.2M	141.3M	-62.7M	-24.1M	133.6M	219.4M	93.8M	-40.7M	282.6M
Capital expenditure	—	—	—	—	—	—	—	-48.1M	-32.3M	-27.5M	-43.1M	-39.7M
Investing cash flow	17.3M	1.3M	10K	1.5M	0	1K	12K	-45.9M	-32.3M	-23.7M	-43.1M	-39.7M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-27M	-35.6M	-34.1M	-69.4M	-23.2M	-15.3M	-51.1M	-29.7M	-16.4M	-27.6M	-36.7M	-359K
Financing cash flow	-99.5M	-60.7M	-53.6M	-211.7M	-46.8M	452.7M	-15.9M	-77.4M	-223.3M	-39.5M	106.5M	-226.4M
Net change in cash	289.8M	-61.3M	-157.4M	-202.9M	94.4M	390M	-40M	10.3M	-36.3M	30.6M	22.7M	16.5M
Free cash flow	246.2M	-30.8M	2.8M	-41.6M	50.2M	-63.1M	-42.3M	85.5M	187.1M	66.3M	-83.8M	242.9M

Par Pacific Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement