PARR (Par Pacific Holdings, Inc.) Stock Financials & Earnings

PARRPar Pacific Holdings, Inc.

Mkt Cap$2B

Energy·Oil & Gas Refining & Marketing·🇺🇸 United States·NYSE

Revenue (TTM)$7.5B

Net Income (TTM)$369M

EPS (TTM)$7.29

Free Cash Flow (TTM)$323M

Gross Margin18.1%

Op. Margin7.2%

Net Margin4.9%

FCF Margin4.3%

P/S Ratio (TTM)0.3x

P/E Ratio (TTM)6.6x

YoY Rev Growth-6.4%

Employees—

Earnings Reports

▶Q4 2025NEW

Par Pacific Holdings, Inc. owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates ...

CEO William MonteleoneIPO Sep 5, 2012www.parpacific.com

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.7B	$372M	$261M
Q2 23	$1.8B	$181M	$46M
Q3 23	$2.6B	$370M	$197M
Q4 23	$2.2B	$352M	$175M
Q1 24	$2.0B	$201M	$10M
Q2 24	$2.0B	$215M	$49M
Q3 24	$2.1B	$207M	$36M
Q4 24	$1.8B	$119M	-$47M
Q1 25	$1.7B	$149M	-$16M
Q2 25	$1.9B	$265M	$97M
Q3 25	$2.0B	$559M	$359M
Q4 25	$1.8B	$381M	$99M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	0.2x	2.4x
Q2 23	0.2x	2.6x
Q3 23	0.3x	4.0x
Q4 23	0.2x	2.8x
Q1 24	0.3x	4.4x
Q2 24	0.2x	3.0x
Q3 24	0.1x	3.1x
Q4 24	0.1x	—
Q1 25	0.1x	—
Q2 25	0.2x	—
Q3 25	0.3x	8.2x
Q4 25	0.2x	4.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$139M	$126M
Q2 23	$173M	$156M
Q3 23	$269M	$246M
Q4 23	-$2M	-$31M
Q1 24	$25M	$3M
Q2 24	-$5M	-$42M
Q3 24	$78M	$50M
Q4 24	-$15M	-$63M
Q1 25	-$1M	-$42M
Q2 25	$134M	$85M
Q3 25	$140M	$107M
Q4 25	$200M	$173M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$13M
Q2 23	$18M
Q3 23	$23M
Q4 23	$29M
Q1 24	$23M
Q2 24	$37M
Q3 24	$28M
Q4 24	$48M
Q1 25	$41M
Q2 25	$48M
Q3 25	$32M
Q4 25	$28M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+24.8%	-3.2%
Q2 23	-15.3%	-10.1%
Q3 23	+25.4%	+34.4%
Q4 23	+20.7%	+17.6%
Q1 24	+17.5%	+38.5%
Q2 24	+13.1%	+13.3%
Q3 24	-16.9%	-11.5%
Q4 24	-16.1%	-6.4%
Q1 25	-11.9%	-10.7%
Q2 25	-6.1%	-8.7%
Q3 25	-6.1%	-21.5%
Q4 25	-1.0%	-8.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	0.1%
Q2 23	$4M	0.2%
Q3 23	$3M	0.1%
Q4 23	$3M	0.1%
Q1 24	$16M	0.8%
Q2 24	$3M	0.2%
Q3 24	$3M	0.1%
Q4 24	$3M	0.2%
Q1 25	$4M	0.2%
Q2 25	$4M	0.2%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$3M	$19M	—
Q2 23	$3M	$23M	—
Q3 23	$3M	$24M	—
Q4 23	$3M	$25M	—
Q1 24	$2M	$42M	—
Q2 24	$3M	$23M	—
Q3 24	$4M	$22M	—
Q4 24	—	$22M	—
Q1 25	—	$24M	—
Q2 25	—	$24M	—
Q3 25	—	$24M	$140M
Q4 25	—	$26M	—

Revenue Segments

Quarter	Fuel Revenue	Other Revenue
Q1 25	$1.6B	$109M
Q2 25	$1.8B	$59M
Q3 25	$1.9B	$69M
Q4 25	$1.7B	$74M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$661M	$0	$661M
Q2 23	$191M	$0	$191M
Q3 23	$347M	$0	$347M
Q4 23	$279M	$0	$279M
Q1 24	$228M	$0	$228M
Q2 24	$180M	$0	$180M
Q3 24	$183M	$0	$183M
Q4 24	$192M	$0	$192M
Q1 25	$134M	$0	$134M
Q2 25	$169M	$0	$169M
Q3 25	$159M	$0	$159M
Q4 25	$164M	$0	$164M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	61M	+1.1%
Q2 23	61M	-0.1%
Q3 23	61M	+0.7%
Q4 23	61M	-1.3%
Q1 24	59M	-2.7%
Q2 24	58M	-1.6%
Q3 24	56M	-3.1%
Q4 24	55M	-1.7%
Q1 25	54M	-2.7%
Q2 25	51M	-5.4%
Q3 25	51M	+0.1%
Q4 25	51M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$5M	577
FY 15	$3M	744
FY 16	$2M	863
FY 17	$3M	905
FY 18	$3M	1K
FY 19	$4M	1K
FY 20	$2M	1K
FY 21	$4M	1K
FY 22	$5M	1K
FY 23	$5M	2K
FY 24	$4M	2K
FY 25	$4M	2K