HF Sinclair Corp
$102.18
+0.03 (+0.03%) · delayed · Nov 13, 2026
Five-year price
52w $45.71 to $129.37
- Market cap
- $17.5B
- Enterprise value
- $19.3B
- P/E
- 33.2×
- 25.0× on 3y avg EPS
- EV / EBIT
- 20.8×
- FCF yield
- 4.9%
- ROIC
- 6.8%
- Debt / equity
- 0.30
- Piotroski F
- 6/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ●ROIC > 12% (5y avg)5y avg ROIC 12.0%
- ○ROE > 15% (5y avg)5y avg ROE 13.1%
- ●Stable operating marginsMargin volatility 3.3% (σ, 5y)
- ●Earnings convert to cashFCF / net income 137% (5y avg)
- ●Growing revenueRevenue CAGR 5y 19.2%
- ○Shrinking share countDiluted shares 15.1% over 5y
Value
20
- ○P/E below 15P/E 33.2
- ○EV/EBIT below 12EV/EBIT 20.8
- ○FCF yield above 6%FCF yield 4.9%
- ○Price below Graham NumberGraham Number $60.94
- ●P/B below 3P/B 1.9
Safety
80
- ●Debt / equity below 0.5D/E 0.30
- ●Debt payable in < 4 yrs of earningsNet debt $1.8B
- ○Interest coverage > 8xCoverage 4.3x
- ●Current ratio > 1.5Current ratio 1.94
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
40
- ●Adequate size (revenue > $2B)Revenue $26.9B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.94
- –Earnings stability (no loss, 10y)6 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -12%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 25.0
- ○P/E × P/B ≤ 22.5Product 47.6
Valuation lab
What do you have to believe?
At $102.18, the market is pricing in about 7.1% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $1.8B · 171M shares · 5y revenue CAGR 19.2%
Intrinsic value
$265.76
Price
$102.18
Margin of safety
62%
What the price implies
The market is paying for 7.1% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
69% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 11,184 | 18,389 | 38,205 | 31,964 | 28,580 | 26,869 |
| Gross profit | — | — | — | — | — | — |
| Operating income | (734) | 749 | 4,054 | 2,203 | 261 | 927 |
| Operating margin | -6.6% | 4.1% | 10.6% | 6.9% | 0.9% | 3.5% |
| Pre-tax income | (747) | 787 | 3,936 | 2,153 | 218 | 732 |
| Income tax | (232) | 124 | 895 | 442 | 34 | 146 |
| Net income | (601) | 558 | 2,923 | 1,590 | 177 | 579 |
| EPS (diluted) | -3.72 | 3.39 | 14.28 | 8.29 | 0.91 | 3.08 |
| Diluted shares | 162 | 163 | 203 | 190 | 192 | 186 |
Who owns it