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HF Sinclair Corp (DINO) stock

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NYSE: DINO NYSE Oil & Gas Refining & Marketing Next results ~February 17, 2027

A Fundamentals grade

HF Sinclair Corp is a US-listed company in the oil & gas refining & marketing industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: analysts' forecasts describe a different business from the one in the latest filings (spin-off, disposal or merger).

Price vs value

Under review: analysts' forecasts describe a different business from the one in the latest filings (spin-off, disposal or merger). We'll show the comparison once resolved.

HF Sinclair Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter HF Sinclair files

10-Q filed October 28: HF Sinclair

Revenue for the twelve months to September 2026 was $34.8bn, up 29.5% on a year earlier, faster than the 16.3% growth a quarter earlier. That growth ranks 2 of 11 among the oil & gas refining & marketing companies we cover. Free-cash-flow margin rose to 9.4% from 2.5% a year earlier. Operating margin widened to 13.5% from 2.6%. The diluted share count is down 4.3% on a year earlier, which lifts each remaining share.

Our model value for HF Sinclair is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 30: HF Sinclair

Revenue for the twelve months to June 2026 reached $34.8bn, up 29.5% on a year earlier and faster than the 16.3% growth a quarter earlier. That pace ranks 1 of 11 among the oil and gas refining and marketing companies we cover. Margins improved alongside it, with free cash flow margin rising to 9.4% from 2.5% and operating margin widening to 13.5% from 2.6%. A diluted share count down 4.3% on a year earlier lifts each remaining share. On that basis the fundamentals grade moves from B to B+. At $114 the market is pricing in cash flow shrinking about 3.3% a year for five years, slower than the 13.6% annual revenue growth delivered.

10-Q on SEC EDGAR

Where HF Sinclair stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $31.2bn, up 16.3% on a year earlier, faster than -1.1% a quarter earlier. Free-cash-flow margin rose to 7.4% from 2.1% a year earlier. Operating margin widened to 8.3% from 0.0%. The diluted share count is down 3.4% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 7 financial-health checks. At that price, our model says the market is pricing in cash flow shrinking about 0.4% a year for five years, slower than the 11.2% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 17, 2027 (estimated)

HF Sinclair Corp's trailing-twelve-month revenue grew 29.5% year on year, with a free-cash-flow margin of 9.4%. Where it stands out: operating margin of 13.5% ranks 1 of 14 oil & gas refining & marketing companies we cover.

Our discounted-cash-flow model values the business at ~$320 per share in the base case (~$240–$420 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 383.9% while net income grew 797.5%: a 414pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 29.5% over the last 12 months, against a median of 13.2% for oil & gas refining & marketing companies we cover.
  • Growth speeding up. The growth rate is 13.2 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 10.9 points on a year ago.
  • Shrinking share count. Diluted shares fell 4.3% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Gross margin slipping. Gross margin is down 2.4 points on a year ago.
  • Earnings expected to fall. The consensus expects earnings per share to fall 37% next year.

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$11.75 against an average estimate of $7.83: beat by 50.1%
Revenue
$10.86bn, up 49.7% on a year earlier
Share reaction
-2.0% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 28, 2026; average EPS estimate $8.33

HF Sinclair's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.7%
  • 1 week+0.4%
  • 1 month+1.1%
  • This year+148.0%
  • 1 year+121.7%
  • 5 years+319.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$34.8B
Operating margin
13.5%
Net margin
10.1%
EPS (TTM, diluted)
$19.63

Growth

Revenue growth
+29.5%
Change in growth rate
+13.2 pts
Share count change
−4.3%

Cash

Free cash flow (TTM)
$3.3B
FCF margin
9.4%
Stock pay % of revenue
0.1%

Earnings

Last results
October 28, 2026
Next results (est.)
February 17, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Insider trade
  3. Leadership
  4. Results
  5. Announcement
  6. Announcement
  7. Insider trade
  8. Agreement
  9. Product
  10. Announcement
  11. Results
  12. Announcement
  13. Leadership
  14. Announcement
  15. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

HF Sinclair Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: analysts' forecasts describe a different business from the one in the latest filings (spin-off, disposal or merger).

Our value per share comes from a discounted-cash-flow model of HF Sinclair Corp's free cash flow after stock-based pay ( $2B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$21.58$27.62$44.72$49.66$32.59$45.03$111.66
Market value$3.5bn$4.5bn$9.1bn$9.4bn$6.3bn$8.4bn$20.1bn
+ Net debt (− = net cash)−$1.4bn$2.8bn$1.6bn$1.4bn$1.9bn$1.8bn−$533m
Enterprise value$2.1bn$7.3bn$10.7bn$10.8bn$8.1bn$10.2bn$19.5bn
Multiples
Price / sales 0.3x0.2x0.2x0.3x0.2x0.3x0.6x
Price / earnings —8.0x3.1x5.9x35.4x14.5x5.7x
Price / free cash flow 18.7x—2.8x4.9x9.8x9.7x6.1x
EV / EBITDA —5.8x2.3x3.6x7.4x5.6x3.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard HF Sinclair's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 11.8% of total assets over 5 years.

  • Durability 4 / 20

    Operating margin has been a median 9.2%; its worst year was 1.4%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 5 of 5 years, at a median 5.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $24.07 +376% $29.0bn +8%
Next $15.14 −37% $32.8bn +13%

Next year's EPS estimate has moved +75.8% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +84.3% on 90 days ago. In the last 30 days, 11 analysts raised HF Sinclair Corp's forecast and 0 cut it.

Consensus EPS forecast HF Sinclair Corp, last 90 days
$5.00 $10.00 $15.00 $20.00 $25.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $13.06 Current fiscal year, 60 days ago: $13.48 Current fiscal year, 30 days ago: $15.98 Current fiscal year, 7 days ago: $18.51 Current fiscal year, Now: $24.07 $24.07 Next fiscal year, 90 days ago: $8.61 Next fiscal year, 60 days ago: $9.37 Next fiscal year, 30 days ago: $11.82 Next fiscal year, 7 days ago: $14.93 Next fiscal year, Now: $15.14 $15.14

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $13.06$8.61
60 days ago $13.48$9.37
30 days ago $15.98$11.82
7 days ago $18.51$14.93
Now $24.07$15.14

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $7.83 $11.75 +50.1%
Jun 2026 $4.49 $5.31 +18.3%
Mar 2026 −$0.05 $0.69 +1411.0%
Dec 2025 $0.45 $1.20 +165.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026

No numeric guidance in HF Sinclair Corp's latest earnings release (filed October 28, 2026). Some companies give their outlook only on the earnings call.

Our model doesn't use the consensus here: consensus revenue is 0.73x the latest quarter's run rate while reported revenue grew 50% a year: a different business (spin-off, disposal or merger) - not used.

Analyst recommendations

17 analysts, Oct 2026
Buy741%
Hold847%
Sell212%

Monthly trend

  1. Oct 2026258217
  2. Sep 202658216
  3. Aug 202657216
  4. Jul 202657216

Counts of recommendations published by analysts covering HF Sinclair Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.4%
of tradable shares
Days to cover
2.59
at average volume
Short interest, 1 month
−29%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
5.5%
of shares
Employees
5,165
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +123.5%

$49.97 on October 31, 2025 to $111.66

ThenNowEffect
Revenue (last 12 months) $26.9bn $31.2bn +16.3%
P/S multiple 0.4x 0.7x +85.8%
Share count 189m 182m +3.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +123.9%

$49.88 on November 3, 2023 to $111.66

ThenNowEffect
Revenue (last 12 months) $35.0bn $31.2bn −10.7%
Net margin 6.9% 6.1% −10.7%
P/E multiple 4.2x 10.6x +156.1%
Share count 200m 182m +9.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DINO+28%+62%+11%−34%+38%+148%
Industry peers (median)+36%+41%+10%−12%+18%+62%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DINO58%67%50%33%58%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DINO−33%−26%−35%−46%−32%−16%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 77% from June 1, 2018 to October 28, 2020. Getting back needed a 342% gain, reached on March 27, 2026, 1976 days after the low.

Price behaviour

52-week range
$44.83 – $128.23
From 52-week high
−12.9%
vs 50-day average
−0.4%
vs 200-day average
+42.8%
Volatility (1 year)
40%
Beta vs S&P 500
-0.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±5.1%
After a week
5 up, 6 down
typical move ±6.3%
After a month
7 up, 4 down
typical move ±7.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −2.0% 0.0% — —
July 28, 2026 −0.9% −1.3% −2.8% +7.0%
May 1, 2026 +6.8% −0.1% +7.8% +9.7%
February 18, 2026 −12.7% +0.2% −13.8% +5.6%
October 30, 2025 −4.4% −0.8% −0.6% −0.9%
July 31, 2025 −2.5% −2.0% +0.3% +18.4%
May 1, 2025 +6.5% +2.2% +13.5% +20.0%
February 20, 2025 −4.1% −2.1% −7.9% −10.0%
October 31, 2024 −5.2% −1.5% +1.7% +3.1%
August 1, 2024 −9.2% −3.3% −9.4% −3.5%
May 8, 2024 +5.3% +0.6% +3.8% −2.1%
February 21, 2024 −1.7% +2.2% −7.2% +4.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

HF Sinclair Corp in five measures

Fundamentals grade A
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) HF Sinclair Corp
$26B $28B $30B $32B $34B $36B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $32B Revenue (TTM), FY24 Q1: $31.4B Revenue (TTM), FY24 Q2: $31.4B Revenue (TTM), FY24 Q3: $29.7B Revenue (TTM), FY24 Q4: $28.6B Revenue (TTM), FY25 Q1: $27.9B Revenue (TTM), FY25 Q2: $26.9B Revenue (TTM), FY25 Q3: $26.9B Revenue (TTM), FY25 Q4: $26.9B Revenue (TTM), FY26 Q1: $27.6B Revenue (TTM), FY26 Q2: $31.2B Revenue (TTM), FY26 Q3: $34.8B $34.8B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $32B
FY24 Q1 $31.4B
FY24 Q2 $31.4B
FY24 Q3 $29.7B
FY24 Q4 $28.6B
FY25 Q1 $27.9B
FY25 Q2 $26.9B
FY25 Q3 $26.9B
FY25 Q4 $26.9B
FY26 Q1 $27.6B
FY26 Q2 $31.2B
FY26 Q3 $34.8B
Revenue growth, TTM YoY HF Sinclair Corp
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -16.3% Revenue growth, TTM YoY, FY24 Q1: -18.0% Revenue growth, TTM YoY, FY24 Q2: -10.1% Revenue growth, TTM YoY, FY24 Q3: -10.7% Revenue growth, TTM YoY, FY24 Q4: -10.6% Revenue growth, TTM YoY, FY25 Q1: -11.1% Revenue growth, TTM YoY, FY25 Q2: -14.6% Revenue growth, TTM YoY, FY25 Q3: -9.5% Revenue growth, TTM YoY, FY25 Q4: -6.0% Revenue growth, TTM YoY, FY26 Q1: -1.1% Revenue growth, TTM YoY, FY26 Q2: 16.3% Revenue growth, TTM YoY, FY26 Q3: 29.5% 29.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -16.3%
FY24 Q1 -18.0%
FY24 Q2 -10.1%
FY24 Q3 -10.7%
FY24 Q4 -10.6%
FY25 Q1 -11.1%
FY25 Q2 -14.6%
FY25 Q3 -9.5%
FY25 Q4 -6.0%
FY26 Q1 -1.1%
FY26 Q2 16.3%
FY26 Q3 29.5%
Operating margin (TTM) HF Sinclair Corp
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 6.9% Operating margin (TTM), FY24 Q1: 6.7% Operating margin (TTM), FY24 Q2: 5.1% Operating margin (TTM), FY24 Q3: 1.4% Operating margin (TTM), FY24 Q4: 0.9% Operating margin (TTM), FY25 Q1: -0.2% Operating margin (TTM), FY25 Q2: 0.0% Operating margin (TTM), FY25 Q3: 2.6% Operating margin (TTM), FY25 Q4: 3.5% Operating margin (TTM), FY26 Q1: 6.1% Operating margin (TTM), FY26 Q2: 8.3% Operating margin (TTM), FY26 Q3: 13.5% 13.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 6.9%
FY24 Q1 6.7%
FY24 Q2 5.1%
FY24 Q3 1.4%
FY24 Q4 0.9%
FY25 Q1 -0.2%
FY25 Q2 0.0%
FY25 Q3 2.6%
FY25 Q4 3.5%
FY26 Q1 6.1%
FY26 Q2 8.3%
FY26 Q3 13.5%
FCF margin (TTM) HF Sinclair Corp
0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 6.0% FCF margin (TTM), FY24 Q1: 6.6% FCF margin (TTM), FY24 Q2: 5.7% FCF margin (TTM), FY24 Q3: 3.6% FCF margin (TTM), FY24 Q4: 2.2% FCF margin (TTM), FY25 Q1: 0.8% FCF margin (TTM), FY25 Q2: 2.1% FCF margin (TTM), FY25 Q3: 2.5% FCF margin (TTM), FY25 Q4: 3.2% FCF margin (TTM), FY26 Q1: 5.1% FCF margin (TTM), FY26 Q2: 7.4% FCF margin (TTM), FY26 Q3: 9.4% 9.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 6.0%
FY24 Q1 6.6%
FY24 Q2 5.7%
FY24 Q3 3.6%
FY24 Q4 2.2%
FY25 Q1 0.8%
FY25 Q2 2.1%
FY25 Q3 2.5%
FY25 Q4 3.2%
FY26 Q1 5.1%
FY26 Q2 7.4%
FY26 Q3 9.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar HF Sinclair took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $26.9B
  2. Selling, general and admin $456M · 1.7%
  3. Other operating costs $25.5B · 94.9%
  4. Operating income $927M · 3.5%
  5. Income tax $146M · 0.5%
  6. Interest and other $202M · 0.8%
  7. Net income $579M · 2.2%

Shares of revenue. Source: HF Sinclair's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 11.2 18.4 38.2 32.0 28.6 26.9 34.8
Gross profit 2.0 2.8 7.5 6.2 — — —
EBITDA −0.2 1.3 4.7 3.0 1.1 1.8 5.7
Operating income −0.7 0.7 4.1 2.2 0.3 0.9 4.7
Net income −0.6 0.6 2.9 1.6 0.2 0.6 3.5
Diluted EPS −$3.72 $3.39 $14.28 $8.29 $0.91 $3.08 $19.63
Growth (year on year)
Revenue — +64.4% +107.8% −16.3% −10.6% −6.0% +29.5%
EBITDA — — +276.1% −36.9% −63.2% +68.0% +254.9%
Operating income — — +441.1% −45.7% −88.2% — +576.4%
Net income — — +423.5% −45.6% −88.9% — —
Diluted EPS — — +321.2% −41.9% −89.0% — —
Margins
Gross margin 18.1% 15.3% 19.7% 19.3% — — —
EBITDA margin −1.9% 6.8% 12.3% 9.3% 3.8% 6.8% 16.2%
Operating margin −6.6% 4.1% 10.6% 6.9% 0.9% 3.5% 13.5%
Net margin −5.4% 3.0% 7.7% 5.0% 0.6% 2.2% 10.1%
Free-cash-flow margin 1.7% −1.7% 8.5% 6.0% 2.2% 3.2% 9.4%
Cash flow
Cash from operations 0.5 0.4 3.8 2.3 1.1 1.3 3.8
Capital spending 0.3 0.7 0.5 0.4 0.5 0.4 0.5
Free cash flow 0.2 −0.3 3.3 1.9 0.6 0.9 3.3
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.2 −0.4 3.2 1.9 0.6 0.8 3.2
Balance sheet
Cash 1.4 0.2 1.7 1.4 0.8 1.0 3.3
Total debt 0.0 3.1 3.3 2.8 2.7 2.8 2.8
Net debt (negative = net cash) −1.4 2.8 1.6 1.4 1.9 1.8 −0.5
Diluted shares 162m 163m 203m 190m 192m 186m 180m
Returned to shareholders
Dividends 0.2 0.1 0.3 0.3 0.4 0.4 0.4
Buybacks 0.0 0.0 1.4 1.0 0.7 0.4 0.9
Total returned 0.2 0.1 1.6 1.3 1.1 0.7 1.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

7 of 7 checks passed · September 30, 2026
What it owns · $20.7bn
Short-term assets $9.0bnLonger-term assets $11.7bn
What it owes, and who funded it · $20.6bn
Short-term liabilities $4.0bnLonger-term liabilities $4.9bnShareholders' equity $11.7bn
  • Short-term assets cover short-term liabilities $9.0bn of assets due within a year against $4.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $9.0bn short-term assets against $4.9bn of longer-dated liabilities.
  • More cash than debt $3.3bn of cash against $2.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 24% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 42% to 24% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.8bn of operating cash flow against $2.8bn of debt.
  • Operating profit covers interest at least five times over Operating income of $4.7bn against $179m of interest.

From HF Sinclair Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$872M
Dividends (TTM)
$365M
Returned to shareholders
38%
of free cash flow
Buybacks, last 3 fiscal years
$2B
Diluted share count
−4.3%
year over year
Total shareholder yield
6.3%
dividends 1.9% + buybacks 4.4% of market value
Dividend payout ratio
10%
of net income paid out
Sales & admin spending
1.5%
of revenue
Days sales outstanding
22 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas refining & marketing
Last 12 months unless stated DINO PBF WKC UGP DK PARR Median
Revenue, last 12 months $34.8bn $38.9bn $45.6bn $25.5bn $12.1bn $8.6bn $10.3bn
Revenue growth, last 12 months 29.5% 31.5% 21.1% 2.5% 11.4% 13.2% 13.0%
Revenue growth, 3-year average 1.5% −1.0% −2.8% — −12.0% 5.5% −0.8%
Revenue growth, latest quarter 49.7% 58.6% 41.3% — 47.8% 56.8% 46.4%
Gross margin 18.5% 8.9% 2.5% 6.6% 7.1% 14.2% 8.0%
Operating margin 13.5% 9.8% −0.1% 0.1% 4.8% 13.4% 2.9%
Operating margin, 3-year average 5.8% 2.3% −0.1% — −0.3% 6.4% 2.3%
Net margin 10.1% 7.0% −0.4% 1.7% 1.9% 9.9% 1.8%
Cash from operations / revenue 10.8% 9.0% 0.3% 3.8% 10.5% 6.4% 5.1%
Free-cash-flow margin 9.4% 6.8% 0.2% 3.0% 5.5% 4.8% 4.8%
Free-cash-flow margin, 3-year average 5.2% 1.1% 0.4% 1.7% 0.2% 2.4% 2.4%
Stock pay / revenue 0.1% 0.1% 0.1% 0.0% 0.3% 0.2% 0.1%
Change in share count −4.3% 4.3% −6.3% −2.0% −2.8% −6.4% −1.4%

Median of all 16 companies we cover in oil & gas refining & marketing. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

16 oil & gas refining & marketing companies
Measure Company Peer median Rank
Revenue growth Growth 29.5% 13.2% 3 of 16
Change in growth rate Growth +13.2pp +12.9pp 6 of 16
Operating margin Profitability 13.5% 4.8% 1 of 14
Net margin Profitability 10.1% 1.9% 1 of 16
Free-cash-flow margin Cash generation 9.4% 4.8% 1 of 15
Stock pay as % of revenue Cash generation 0.1% 0.1% 7 of 11
Long-term debt as % of assets Balance sheet 13.4% 23.4% 3 of 12
Change in share count Balance sheet -4.3% -1.4% 5 of 15
Days sales outstanding Balance sheet 22 days 26 days 4 of 13

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Refining $20.5B 76.4% ▼ 5.4%
Marketing $3.1B 11.7% ▼ 8.3%
Lubricants and Specialties $2.5B 9.4% ▼ 6.7%
Renewables $551M 2.1% ▼ 14.4%
Midstream $121M 0.5% ▲ 13.1%
Products and services
Line of business Revenue Share YoY
Refined Product $24.7B 90.4% ▼ 7.3%
Transportation Fuels $20.9B 84.9% —
Lubricants and Specialty Products $2.3B 9.4% —
Asphalt Fuel Oil and Other Products $1.4B 5.8% —
Crude Oil $1.3B 4.9% —
Other $746M 2.7% —
Renewable Identification Numbers RI Ns $430M 1.6% —
Transportation and Logistic Services $121M 0.4% —

From HF Sinclair Corp's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.8B
Institutions reporting
683
Shares held vs prior quarter
▲ 5.7%
Positions opened / closed
93 / 58

Top buyers and sellers, Q2 2026: 349 institutions bought and 302 sold ; the biggest buyer was Citadel Advisors LLC (+4.0M shares) and the biggest seller Merewether Investment Management, LP (−550K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 18.5M 11.9% ▼ 1.0%
Tctc Holdings, LLC $859M 12.3M 7.9% 0.0%
Dimensional Fund Advisors LP $664M 9.5M 6.1% ▲ 3.1%
Vanguard Portfolio Management LLC $617M 8.9M 5.7% ▼ 2.6%
Vanguard Capital Management LLC $481M 6.9M 4.4% ▼ 1.4%
State Street Corp $447M 6.4M 4.1% ▼ 3.6%
Charles Schwab Investment Management Inc $388M 5.6M 3.6% ▲ 5.7%
AQR Capital Management LLC $324M 4.6M 3.0% ▼ 9.7%
Victory Capital Management Inc $323M 4.6M 3.0% ▲ 9.8%
Citadel Advisors LLC $297M 4.3M 2.7% ▲ 1412.6%
LSV Asset Management $253M 3.6M 2.3% ▼ 0.9%
Geode Capital Management, LLC $217M 3.1M 2.0% ▼ 0.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not HF Sinclair Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $3.5M 4 trades by 2 insiders, last 12 months Insider sales History → $1.7M 6 trades by 5 insiders · 0% under pre-set plans
Net ▲ $1.8M net buying
Insider Date Trade Shares Price Value
Myers Franklin CEO October 29, 2026 Buy 10,000 $110.80 $1.1M
Myers Franklin CEO August 11, 2026 Buy 15,000 $85.30 $1.3M
Kunneman Dale SVP and CHRO August 5, 2026 Sell 8,936 $84.59 $755,896
Hardy Rhoman J Director June 16, 2026 Buy 1,508 $66.32 $100,011
Fernandez Manuel J Director June 2, 2026 Sell 635 $73.09 $46,412
Joyce Matthew SVP, Lubricants & Specialties May 26, 2026 Sell 2,384 $69.73 $166,236
Garg Vivek Acting CFO, VP, CAO & CONTR May 19, 2026 Sell 717 $71.89 $51,545
Myers Franklin CEO and President May 18, 2026 Buy 15,000 $69.11 $1M
Pompa Valerie EVP, Operations May 15, 2026 Sell 10,000 $69.05 $690,500
Garg Vivek VP, CAO and Controller November 5, 2025 Sell 314 $53.28 $16,730

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of HF Sinclair Corp shares.

  • Julia Letlow(R-LA 5):Sale (full), $1,001 - $15,000, traded February 20, 2026, filed March 12, 2026
  • Julia Letlow(R-LA 5):Sale (partial), $1,001 - $15,000, traded August 8, 2025, filed January 13, 2026
  • Julia Letlow(R-LA 5):Purchase, $1,001 - $15,000, traded October 23, 2024, filed January 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 17, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 28, 2026
  • May 1, 2026
  • February 18, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on HF Sinclair Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

HF Sinclair Corp in brief

What does HF Sinclair Corp do?
HF Sinclair Corp is a US-listed company in the oil & gas refining & marketing industry. Its financial year ends in December.
What is HF Sinclair Corp's stock ticker?
HF Sinclair Corp trades under the ticker DINO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is HF Sinclair Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, HF Sinclair Corp reported revenue of $34.8B, 29.5% higher than a year earlier, according to its SEC filings.
What is HF Sinclair Corp's free cash flow?
HF Sinclair Corp's free-cash-flow margin is 9.4% of revenue over the trailing twelve months, ranking 1 of the 15 oil & gas refining & marketing companies we cover.
Who are HF Sinclair Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Tctc Holdings, LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is HF Sinclair Corp buying back stock, and does it pay a dividend?
HF Sinclair Corp spent $872M on share repurchases over the trailing twelve months, and its diluted share count fell 4.3% over the year.
What is HF Sinclair Corp's market cap?
On November 2, 2026, HF Sinclair Corp's market capitalisation was about $20.1B, with a price-to-earnings ratio of 5.7 and net debt of -$533M. Market figures come from third-party market data and may be delayed.
Does HF Sinclair Corp pay a dividend?
Yes: HF Sinclair Corp paid $365M in dividends over the trailing twelve months, a dividend yield of 1.86% and a payout ratio of 10.3%.
How much debt does HF Sinclair Corp have?
HF Sinclair Corp's debt-to-equity ratio is 23.7%, from its latest balance sheet (41.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are HF Sinclair Corp's competitors?
In our Oil & Gas Refining & Marketing peer group, the companies closest to HF Sinclair Corp are PBF Energy Inc., World Kinect Corp, Ultrapar Holdings Inc, Delek US Holdings, Inc. and PAR Pacific Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against HF Sinclair Corp's.
Are insiders buying or selling HF Sinclair Corp stock?
Over the last 12 months, HF Sinclair Corp's directors and officers reported 4 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is HF Sinclair Corp's next earnings date?
Around February 17, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — HF Sinclair Corp announces its own schedule.