Loading…
US independent petroleum refiner (formerly HollyFrontier/Sinclair) also making renewable diesel and lubricants.
US independent petroleum refiner (formerly HollyFrontier/Sinclair) also making renewable diesel and lubricants.
Buys crude oil and sells gasoline, diesel and jet fuel, earning the gap between product prices and crude cost (the crack spread); its refineries are mostly inland. Lubricants, built around Petro-Canada bought in 2017, give a steadier line, and renewable diesel turns vegetable oils and fats into fuel.
Moat: narrow (scale, cost advantage). Regional refining scale in less-competitive inland markets supports steadier crack-spread capture.
Headquarters: Dallas, Texas, US · Employees: 5,165
Size HF Sinclair (DINO) is a United States Energy company (Oil Refining/Marketing) with a market value of $16.7B, the 561st largest of 3,117 United States companies the cockpit tracks. Shares closed at $97.18 on 6 Nov 2026.
Performance Over six months the shares gained 34.2%, against -5.0% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 12 in its peer set.
Growth Revenue grew 29.5% over the last twelve months (peer median +15.4%); the operating margin is 13.9% (peer median 8.4%).
Valuation It trades at 5.0× forward earnings against a peer median of 6.8× (4th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -20% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -39 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 24.6 points above its cost of capital (8.0% WACC).
Credit HF Sinclair has 5 bonds outstanding ($2.72B), rated BBB- by the agencies and trading like BBB at a weighted spread of 111 bp.
Short interest Short interest is 3.9% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $34.8B | $26.9B | $28.6B | $32.0B | $38.2B |
| Revenue growth | — | -6% | -11% | -16% | — |
| Gross profit | $5.37B | $1.38B | $742M | $2.71B | $4.52B |
| EBITDA | $5.81B | $1.83B | $1.13B | $3.00B | $4.80B |
| Net income | $3.50B | $574M | $175M | $1.58B | $2.89B |
| Free cash flow | $3.27B | $866M | $646M | $1.92B | $3.26B |
| Capital expenditure | $488M | $449M | $470M | $385M | $524M |
| Total debt | $3.25B | $3.23B | $3.10B | $3.18B | $3.72B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| HF Sinclair DINO | $16.7B | +34% | +29% | 14% | 5.0× | -20.0% |
| Valero Energy VLO | $96.6B | +44% | +25% | 12% | 5.6× | -16.1% |
| Marathon Petroleum MPC | $101B | +53% | +32% | 12% | 5.1× | -16.8% |
| Phillips 66 PSX | $95.8B | +44% | +29% | 10% | 6.6× | -11.3% |
| PBF Energy PBF | $8.16B | +65% | +32% | 8% | 2.6× | n/a |
| CVR Energy CVI | $3.83B | +14% | +34% | 11% | 5.2× | -17.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DINO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.5% | -17.6% | 5th lowest of 12 |
| 6-month return | +34.2% | -5.0% | 3rd highest of 12 |
| Distance from 52-week high | -24.9% | -23.9% | 6th lowest of 12 |
| Revenue growth (TTM) | +29.5% | +15.4% | 2nd highest of 12 |
| Operating margin | 13.9% | 8.4% | 2nd highest of 12 |
| Forward P/E | 5.0× | 6.8× | 4th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -20.0% | -7.7% | least demanding of 9 |
| Growth delivered (Del g) | +19.1% | +12.9% | 2nd highest of 9 |
| Hurdle (Req g minus delivered) | -39.2 pp | -18.0 pp | least demanding of 9 |
| ROIC minus cost of capital | +24.6 pp | +10.0 pp | 2nd highest of 12 |
| EV / EBITDA | 2.9× | 4.8× | 2nd cheapest of 8 |
| Net debt / EBITDA | -0.0× | 1.7× | 2nd least indebted of 10 |
| Bond spread | 111 bp | 135 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HF Sinclair DINO | United States | $16.7B | +34% | +29% | 14% | 5.0× | -20.0% | +19.1% |
| Bharat Petroleum BPCL.NS | India | $14.7B | +4% | +22% | 3% | 23.1× | 5.7% | +14.5% |
| Eneos 5020.T | Japan | $19.8B | -11% | +2% | 7% | 6.7× | -10.6% | +9.0% |
| SK Innovation 096770.KS | South Korea | $13.4B | -25% | +26% | 9% | 4.5× | n/a | n/a |
| Neste NESTE.HE | Finland | $23.6B | -5% | +15% | 14% | 6.9× | -6.5% | +10.0% |
| Formosa Petrochemical Corporati 6505.TW | Taiwan | $24.7B | +58% | +2% | 10% | 10.4× | -7.7% | +8.6% |
| Idemitsu Kosan 5019.T | Japan | $9.54B | -9% | -3% | 6% | 7.1× | -12.8% | +12.2% |
| S-Oil 010950.KS | South Korea | $9.00B | -21% | +19% | 10% | 3.5× | n/a | n/a |
| Hindustan Petroleum HINDPETRO.NS | India | $8.67B | -2% | +17% | 0% | n/a | 24.7% | +13.6% |
| PBF Energy PBF | United States | $8.16B | +65% | +32% | 8% | 2.6× | n/a | n/a |
| ORLEN Spolka Akcyjna PKN.WA | Poland | $38.5B | -10% | +2% | 13% | 5.2× | -7.6% | +25.5% |
| Ampol ALD.AX | Australia | $5.95B | +6% | +15% | 6% | 10.8× | -14.0% | +15.4% |
HF Sinclair has 5 bonds outstanding with $2.72B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 5.70%, a spread of 111 bp over government bonds.