Stocks DINO Financial statements
Financial statementsHF Sinclair Corp financial statements
Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data HF Sinclair Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2020 | FY2022 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Revenue | 11,184 | 18,389 | 38,205 | 31,964 | 28,580 | 26,869 |
| Cost of revenue | 9,159 | 15,567 | 30,680 | 25,784 | 27,023 | 24,568 |
| Gross profit | 2,025 | 2,822 | 7,525 | 6,180 | 1,557 | 2,301 |
| Selling, general and administrative | 314 | 362 | 427 | 497 | 447 | 456 |
| Operating expenses | 1,300 | 1,517 | 2,335 | 2,438 | ||
| Operating income | -734 | 749 | 4,054 | 2,203 | 261 | 927 |
| Interest expense | 127 | 125 | 176 | 191 | 165 | 217 |
| Interest income | 7.63 | 4.02 | 30 | 94 | 75 | 42 |
| Other non-operating income | -13.3 | 38 | -118 | -50 | -43 | -195 |
| Pre-tax income | -747 | 787 | 3,936 | 2,153 | 218 | 732 |
| Income tax | -232 | 124 | 895 | 442 | 34 | 146 |
| Net income to minority interests | 86.5 | 105 | 118 | 121 | 7 | 7 |
| Net income | -601 | 558 | 2,923 | 1,590 | 177 | 579 |
| EBITDA | -213 | 1,253 | 4,711 | 2,974 | 1,093 | 1,836 |
| EPS, basic | -3.72 | 3.39 | 14.28 | 8.29 | 0.91 | 3.08 |
| EPS, diluted | -3.72 | 3.39 | 14.28 | 8.29 | 0.91 | 3.08 |
| Shares, basic (weighted) | 162 | 163 | 203 | 190 | 192 | 186 |
| Shares, diluted (weighted) | 162 | 163 | 203 | 190 | 192 | 186 |
| Dividend per share | 1.40 | 0.35 | 1.20 | 1.80 | 2.00 | 2.00 |
Balance sheet
| FY2020 | FY2022 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Cash and equivalents | 1,368 | 234 | 1,665 | 1,354 | 800 | 978 |
| Receivables | 1,242 | 1,703 | 1,725 | 1,251 | 1,136 | |
| Inventory | 2,122 | 3,215 | 2,922 | 2,798 | 2,573 | |
| Other current assets | 66.6 | 112 | 89 | 95 | 78 | |
| Total current assets | 3,762 | 6,748 | 6,146 | 5,014 | 4,812 | |
| Property, plant and equipment | 5,415 | 6,689 | 6,627 | 6,558 | 6,533 | |
| Lease right-of-use assets | 396 | 351 | 348 | 355 | 349 | |
| Goodwill | 2,293 | 2,978 | 2,978 | 2,977 | 2,978 | |
| Intangible assets | 299 | 464 | 411 | 351 | 301 | |
| Other non-current assets | 3,343 | 4,337 | 4,595 | 4,716 | 4,816 | |
| Total assets | 12,917 | 18,125 | 17,716 | 16,643 | 16,510 | |
| Accounts payable | 1,613 | 2,334 | 2,206 | 2,236 | 1,902 | |
| Accrued liabilities | 316 | 487 | 453 | 377 | 493 | |
| Short-term debt | 0 | 307 | 0 | 350 | 0 | |
| Total current liabilities | 2,065 | 3,246 | 2,775 | 3,043 | 2,485 | |
| Long-term debt | 3,073 | 2,949 | 2,739 | 2,288 | 2,769 | |
| Lease liabilities | 309 | 254 | 249 | 301 | 289 | |
| Other non-current liabilities | 338 | 397 | 419 | 441 | 478 | |
| Total liabilities | 6,622 | 8,107 | 7,479 | 7,297 | 7,261 | |
| Total debt | 3,073 | 3,276 | 2,756 | 2,638 | 2,769 | |
| Paid-in capital | 4,220 | 6,469 | 5,994 | 5,998 | 6,008 | |
| Retained earnings | 4,414 | 4,130 | 5,379 | 5,170 | 5,373 | |
| Treasury stock | -2,951 | -1,335 | -1,194 | -1,845 | -2,173 | |
| Other comprehensive income | 2.67 | -22 | -12 | -47 | -26 | |
| Shareholders' equity | 5,688 | 9,244 | 10,169 | 9,278 | 9,184 | |
| Minority interests | 607 | 774 | 68 | 68 | 65 | |
| Total equity | 5,722 | 6,295 | 10,018 | 10,237 | 9,346 | 9,249 |
| Total liabilities and equity | 12,917 | 18,125 | 17,716 | 16,643 | 16,510 | |
| Shares outstanding | 162 | 163 |
Cash flow statement
| FY2020 | FY2022 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Net income | -515 | 663 | 3,041 | 1,711 | 184 | 586 |
| Depreciation and amortization | 521 | 504 | 657 | 771 | 832 | 909 |
| Stock-based compensation | 31.7 | 39.3 | 31 | 41 | 23 | 33 |
| Deferred income tax | -177 | 129 | 53 | 193 | -49 | 7 |
| Change in receivables | 255 | -614 | -4 | -17 | 463 | 123 |
| Change in inventory | 230 | -345 | -224 | 30 | 138 | -171 |
| Change in payables | -242 | 612 | 194 | -109 | 25 | -345 |
| Cash from operations | 458 | 407 | 3,777 | 2,297 | 1,110 | 1,315 |
| Capital expenditures | -271 | -725 | -524 | -385 | -470 | -449 |
| Acquisitions | 0 | -624 | -251 | 0 | 0 | |
| Cash from investing | -330 | -1,327 | -774 | -371 | -468 | -516 |
| Debt issued | 749 | 0 | 400 | 0 | 0 | 1,890 |
| Debt repaid | 0 | 0 | -41.4 | -308 | 0 | -1,416 |
| Share buybacks | -7.64 | -7.06 | -1,372 | -999 | -672 | -354 |
| Dividends paid | -229 | -57.7 | -256 | -341 | -386 | -376 |
| Cash from financing | 353 | -212 | -1,561 | -2,244 | -1,182 | -631 |
| Exchange rate effect | 2.16 | -1.53 | -11 | 7 | -14 | 10 |
| Net change in cash | 483 | -1,134 | 1,431 | -311 | -554 | 178 |
| Free cash flow | 187 | -318 | 3,253 | 1,912 | 640 | 866 |
| Interest paid | 120 | 136 | 160 | 203 | 164 | 139 |
| Income taxes paid | 54.3 | -19.8 | 816 | 251 | 110 | 51 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 12.9% | Gross profit / revenue. |
| Operating margin | 8.3% | Operating income / revenue. |
| EBITDA margin | 11.2% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 8.0% | Pre-tax income / revenue. |
| Net margin | 6.1% | Net income / revenue. |
| FCF margin | 7.4% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 8.9% | Cash from operations / revenue. |
| Effective tax rate | 23.1% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 18.6% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 10.1% | Net income / average total assets. |
| Return on invested capital (ROIC) | 18.4% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| SG&A / revenue | 1.5% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.1% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 1.5% | Capital expenditures / revenue. |
| D&A / revenue | 2.9% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -6.0% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -11.1% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 19.2% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 47.8% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | -32.6% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 2.6% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 255.2% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -38.8% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 68.0% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | -27.0% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income growth, 1y | 227.1% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -41.7% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS growth, 1y | 238.5% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -40.0% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 18.5% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -29.7% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 23.5% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 35.3% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -35.7% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 35.9% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 0.0% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 18.6% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 7.4% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -1.0% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -0.2% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets growth, 1y | -0.8% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -3.1% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Share count change, 1y | -2.9% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -2.7% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 2.9% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 1.97x | Current assets / current liabilities. |
| Quick ratio | 1.07x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.60x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.27x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 14.6% | Total debt / total assets. |
| Liabilities / assets | 45.5% | Total liabilities / total assets. |
| Net debt | $510.0M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Net debt / EBITDA | 0.15x | Net debt / EBITDA (twelve months), when EBITDA is positive. |
| Interest coverage | 14.7x | Operating income / interest expense. |
| Working capital | $3.64B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 15.7% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $7.31B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 1.64x | Revenue / average total assets. |
| Fixed asset turnover | 4.86x | Revenue / average property, plant and equipment. |
| Inventory turnover | 8.30x | Cost of revenue / average inventory. |
| Days inventory | 44 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 17.9x | Revenue / average receivables. |
| Days sales outstanding | 20 days | 365 x average receivables / revenue. |
| Days payables | 33 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 31 days | Days inventory + days sales outstanding - days payables. |
| FCF conversion | 120.7% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 17.0% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $10.67 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $174.05 | Revenue / diluted weighted shares. |
| FCF per share | $12.89 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $15.52 | Cash from operations / diluted weighted shares. |
| Book value per share | $57.32 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $40.73 | Tangible book value / shares outstanding. |
| Cash per share | $12.61 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 19.1% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 15.8% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 24.2% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $18.99B | Share price x shares outstanding. |
| Enterprise value | $19.50B | Market cap + total debt - cash - short-term investments. |
| P/E | 9.92x | Market cap / net income. Only when net income is positive. |
| P/S | 0.61x | Market cap / revenue. |
| P/B | 1.85x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 2.60x | Market cap / tangible book value, when positive. |
| P/FCF | 8.21x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 6.82x | Market cap / cash from operations, when positive. |
| EV/Sales | 0.62x | Enterprise value / revenue. |
| EV/EBIT | 7.54x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 5.57x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 8.43x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 12.2% | Free cash flow / market cap. |
| Earnings yield | 10.1% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.9% | Dividends paid over the period / market cap. |
| Shareholder yield | 4.9% | (Dividends paid + share buybacks) / market cap. |
What was HF Sinclair Corp's revenue in fiscal 2025?
HF Sinclair Corp reported revenue of $26.87B for fiscal 2025, 6% lower than the year before.
Was HF Sinclair Corp profitable in fiscal 2025?
Yes. Net income was $579.0M, a net margin of 2.2%.
How much free cash flow did HF Sinclair Corp generate in fiscal 2025?
Cash from operations of $1.32B minus capital expenditures of $449.0M left free cash flow of $866.0M.