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Stocks · Energy · Crude Petroleum & Natural Gas

PAR PACIFIC HOLDINGS, INC.

PARR Clue Score49
United States Fiscal year ends December CIK 0000821483
$81.89 -6.57% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $81.89 +435.23% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,865.0Operating income−19.6Net income−45.8EPS, diluted−1.08Fiscal year 2017Revenue2,443.1 +31.0%Operating income94.0Net income72.6EPS, diluted1.57Fiscal year 2018Revenue3,410.7 +39.6%Operating income81.9Net income39.4 −45.7%EPS, diluted0.85 −45.9%Fiscal year 2019Revenue5,401.5 +58.4%Operating income148.0Net income40.8 +3.5%EPS, diluted0.80 −5.9%Fiscal year 2020Revenue3,124.9 −42.1%Operating income−318.0Net income−409.1 −1,102.4%EPS, diluted−7.68 −1,060.0%Fiscal year 2021Revenue4,710.1 +50.7%Operating income−7.6Net income−81.3EPS, diluted−1.40Fiscal year 2022Revenue7,321.8 +55.4%Operating income437.9Net income364.2EPS, diluted6.08Fiscal year 2023Revenue8,232.0 +12.4%Operating income680.0Net income728.6 +100.1%EPS, diluted11.94 +96.4%Fiscal year 2024Revenue7,974.5 −3.1%Operating income47.6Net income−33.3 −104.6%EPS, diluted−0.59 −104.9%Fiscal year 2025Revenue7,464.7 −6.4%Operating income538.8Net income369.4EPS, diluted7.16
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,865.0 2,443.1 3,410.7 5,401.5 3,124.9 4,710.1 7,321.8 8,232.0 7,974.5 7,464.7
Growth +31.0% +39.6% +58.4% −42.1% +50.7% +55.4% +12.4% −3.1% −6.4%
Operating income −19.6 94.0 81.9 148.0 −318.0 −7.6 437.9 680.0 47.6 538.8
Net income −45.8 72.6 39.4 40.8 −409.1 −81.3 364.2 728.6 −33.3 369.4
Growth −45.7% +3.5% −1,102.4% +100.1% −104.6%
EPS, diluted −1.08 1.57 0.85 0.80 −7.68 −1.40 6.08 11.94 −0.59 7.16
Growth −45.9% −5.9% −1,060.0% +96.4% −104.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−1.1%Net margin−2.5%Free cash flow margin−2.6%Fiscal year 2017Operating margin3.8%Net margin3.0%Free cash flow margin3.1%Fiscal year 2018Operating margin2.4%Net margin1.2%Free cash flow margin1.2%Fiscal year 2019Operating margin2.7%Net margin0.8%Free cash flow margin0.4%Fiscal year 2020Operating margin−10.2%Net margin−13.1%Free cash flow margin−3.2%Fiscal year 2021Operating margin−0.2%Net margin−1.7%Free cash flow margin−1.2%Fiscal year 2022Operating margin6.0%Net margin5.0%Free cash flow margin5.5%Fiscal year 2023Operating margin8.3%Net margin8.9%Free cash flow margin6.0%Fiscal year 2024Operating margin0.6%Net margin−0.4%Free cash flow margin−0.6%Fiscal year 2025Operating margin7.2%Net margin4.9%Free cash flow margin4.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −1.1% 3.8% 2.4% 2.7% −10.2% −0.2% 6.0% 8.3% 0.6% 7.2%
Net margin −2.5% 3.0% 1.2% 0.8% −13.1% −1.7% 5.0% 8.9% −0.4% 4.9%
Free cash flow margin −2.6% 3.1% 1.2% 0.4% −3.2% −1.2% 5.5% 6.0% −0.6% 4.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−23.4Capital expenditure−24.8Free cash flow−48.2Fiscal year 2017Operating cash flow106.5Capital expenditure−31.7Free cash flow74.8Fiscal year 2018Operating cash flow90.6Capital expenditure−48.4Free cash flow42.2 −43.6%Fiscal year 2019Operating cash flow105.6Capital expenditure−83.9Free cash flow21.7 −48.5%Fiscal year 2020Operating cash flow−37.2Capital expenditure−63.5Free cash flow−100.7 −564.0%Buybacks−1.2Fiscal year 2021Operating cash flow−27.6Capital expenditure−29.5Free cash flow−57.2Buybacks−2.1Fiscal year 2022Operating cash flow452.6Capital expenditure−53.0Free cash flow399.6Buybacks−7.8Fiscal year 2023Operating cash flow579.2Capital expenditure−82.3Free cash flow496.9 +24.4%Buybacks−67.8Fiscal year 2024Operating cash flow83.8Capital expenditure−135.5Free cash flow−51.8 −110.4%Buybacks−142.0Fiscal year 2025Operating cash flow445.3Capital expenditure−148.9Free cash flow296.5Buybacks−124.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −23.4 106.5 90.6 105.6 −37.2 −27.6 452.6 579.2 83.8 445.3
Capital expenditure −24.8 −31.7 −48.4 −83.9 −63.5 −29.5 −53.0 −82.3 −135.5 −148.9
Free cash flow −48.2 74.8 42.2 21.7 −100.7 −57.2 399.6 496.9 −51.8 296.5
Growth −43.6% −48.5% −564.0% +24.4% −110.4%
Buybacks n/a n/a n/a n/a −1.2 −2.1 −7.8 −67.8 −142.0 −124.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash47.8Total debt370.4Net cash (debt)−322.6Shareholders’ equity368.9Debt to equity1.00Fiscal year 2017Cash118.3Total debt384.8Net cash (debt)−266.5Shareholders’ equity447.7Debt to equity0.86Fiscal year 2018Cash75.1Total debt392.6Net cash (debt)−317.6Shareholders’ equity512.3Debt to equity0.77Fiscal year 2019Cash126.0Total debt611.9Net cash (debt)−485.9Shareholders’ equity648.2Debt to equity0.94Fiscal year 2020Cash68.3Total debt708.6Net cash (debt)−640.3Shareholders’ equity246.3Debt to equity2.88Fiscal year 2021Cash112.2Total debt564.6Net cash (debt)−452.3Shareholders’ equity265.7Debt to equity2.12Fiscal year 2022Cash490.9Total debt505.5Net cash (debt)−14.6Shareholders’ equity644.5Debt to equity0.78Fiscal year 2023Cash279.1Total debt650.9Net cash (debt)−371.8Shareholders’ equity1,335.4Debt to equity0.49Fiscal year 2024Cash191.9Total debt1,113.0Net cash (debt)−921.0Shareholders’ equity1,191.3Debt to equity0.93Fiscal year 2025Cash164.1Total debt802.9Net cash (debt)−638.8Shareholders’ equity1,511.5Debt to equity0.53
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 47.8 118.3 75.1 126.0 68.3 112.2 490.9 279.1 191.9 164.1
Total debt 370.4 384.8 392.6 611.9 708.6 564.6 505.5 650.9 1,113.0 802.9
Net cash (debt) −322.6 −266.5 −317.6 −485.9 −640.3 −452.3 −14.6 −371.8 −921.0 −638.8
Shareholders’ equity 368.9 447.7 512.3 648.2 246.3 265.7 644.5 1,335.4 1,191.3 1,511.5
Debt to equity 1.00 0.86 0.77 0.94 2.88 2.12 0.78 0.49 0.93 0.53

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,865.0 2,443.1 3,410.7 5,401.5 3,124.9 4,710.1 7,321.8 8,232.0 7,974.5 7,464.7
Growth +31.0% +39.6% +58.4% −42.1% +50.7% +55.4% +12.4% −3.1% −6.4%
1,636.3 n/a n/a n/a n/a n/a n/a n/a n/a n/a
42.1 46.1 47.4 46.2 41.3 48.1 62.4 91.4 108.8 98.5
−19.6 94.0 81.9 148.0 −318.0 −7.6 437.9 680.0 47.6 538.8
Growth −12.8% +80.6% −314.9% +55.3% −93.0% +1,031.2%
−53.7 71.3 39.8 −28.9 −429.8 −80.3 364.9 613.3 −39.0 477.9
−7.9 −1.3 0.3 −69.7 −20.7 1.0 0.7 −115.3 −5.7 110.8
−45.8 72.6 39.4 40.8 −409.1 −81.3 364.2 728.6 −33.3 369.4
Growth −45.7% +3.5% −1,102.4% +100.1% −104.6%
Per share
−1.08 1.58 0.85 0.80 −7.68 −1.40 6.12 12.14 −0.59 7.28
−1.08 1.57 0.85 0.80 −7.68 −1.40 6.08 11.94 −0.59 7.16
Growth −45.9% −5.9% −1,060.0% +96.4% −104.9%
42.3 45.5 45.7 50.4 53.3 58.3 59.5 60.0 56.8 50.7
42.3 45.6 45.8 50.5 53.3 58.3 59.9 61.0 56.8 51.6
Growth +7.6% +0.4% +10.3% +5.6% +9.3% +2.8% +1.9% −6.9% −9.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 19.0% a year over five years.
  • The diluted share count fell 3.2% in five years, so buybacks did some of the work per share.
  • Operating margin is up 17.4 points on five years ago, at 7.2%.
  • A net loss in 4 of 10 years on file.