HF Sinclair Corp

Listed Company

DINOCIK 0001915657NYSELarge AcceleratedPipe Lines (No Natural Gas)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$26.87B

Net Income

$579.00M

Total Assets

$16.51B

Equity

$9.18B

Shares Out

180.27M

Op. Cash Flow

$1.31B

Business

HF Sinclair Corp is an independent energy company that produces and markets refined petroleum and renewable fuels and operates integrated refining, logistics and manufacturing businesses. It offers gasoline, diesel, jet fuel, renewable diesel, asphalt, base oils, specialty lubricants, and related marketing and terminal services. Operations are organized into five reportable segments: Refining, Renewables, Marketing, Lubricants & Specialties and Midstream. Its assets and distribution channels serve the Mid‑Continent, Southwest, Rocky Mountains and Pacific Northwest regions of the United States through pipelines, terminals, racks, marine docks and branded retail sites.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales and other revenues (Note 4)	26,869	28,580	31,964	38,205	18,389
Cost of materials and other	21,760	24,582	25,784	30,680	—
Lower of cost or market inventory valuation adjustments	417	−43	271	52	−310
Operating expenses	2,391	2,484	2,438	2,335	—
Total cost of sales	24,568	27,023	28,493	33,067	15,257
Selling, general and administrative expenses	456	447	497	427	362
Depreciation and amortization	909	832	771	657	504
Other operating expenses, net	9	17	0	—	—
Total operating costs and expenses	25,942	28,319	29,761	34,151	1,517
Income from operations	927	261	2,203	4,054	749
Earnings of equity method investments	33	32	17	0	12
Interest income	42	75	94	30	4
Interest expense	−217	−165	−191	−176	—
Other income (expense), net (Note 5)	−53	15	30	28	—
Total other income (expense)	−195	−43	−50	−118	38
Income before income taxes	732	218	2,153	3,936	787
Current	139	83	249	842	−5
Deferred	7	−49	193	53	129
Total income tax expense	146	34	442	895	124
Net income	586	184	1,711	3,041	663
Less: net income attributable to noncontrolling interest	7	7	121	118	105
Net income attributable to HF Sinclair stockholders	579	177	1,590	2,923	558
Basic (in USD per share)	3.08	0.91	8.29	14.28	3.39
Diluted (in USD per share)	3.08	0.91	8.29	14.28	3.39
Basic (in shares)	186	192	190	203	163
Diluted (in shares)	186	192	190	203	163

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	978	800	1,354	1,665	234
Accounts receivable, net: Product and transportation	1,033	1,074	1,528	1,626	1,130
Crude oil resales	103	177	197	77	111
Total Accounts Receivable, net	1,136	1,251	1,725	1,703	1,242
Inventories: Crude oil and refined products (Note 9)	2,214	2,495	2,646	—	—
Materials, supplies and other	359	303	276	—	—
Total inventories	2,573	2,798	2,922	3,215	2,122
Income taxes receivable (Note 15)	47	70	56	54	97
Prepayments and other	78	95	89	112	67
Total current assets	4,812	5,014	6,146	6,748	3,762
Properties, plants and equipment, at cost (Note 10)	11,392	10,931	10,534	10,147	8,448
Less: accumulated depreciation	−4,859	−4,373	−3,907	−3,458	−3,033
Properties, plants and equipment, net	6,533	6,558	6,627	6,689	5,415
Operating lease right-of-use assets (Note 2)	349	355	348	351	396
Other assets: Turnaround costs	883	777	645	376	397
Goodwill (Note 11)	2,978	2,977	2,978	2,978	2,293
Intangibles and other (Note 11)	955	962	972	983	653
Total other assets	4,816	4,716	4,595	4,337	3,343
Total assets	16,510	16,643	17,716	18,125	12,917
Accounts payable	1,902	2,236	2,206	2,334	1,613
Income taxes payable (Note 15)	5	3	9	8	25
Operating lease liabilities (Note 2)	85	77	107	110	111
Current debt (Note 13)	0	350	0	307	0
Accrued liabilities (Note 12)	493	377	453	487	316
Total current liabilities	2,485	3,043	2,775	3,246	2,065
Long-term debt (Note 13)	2,769	2,288	2,739	2,949	3,073
Noncurrent operating lease liabilities (Note 2)	289	301	249	254	309
Deferred income taxes (Note 15)	1,240	1,224	1,297	1,262	837
Other long-term liabilities (Note 12)	478	441	419	397	338
Total liabilities	7,261	7,297	7,479	—	—
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $1.00 par value 5,000,000 shares authorized; none issued	0	0	0	0	0
Common stock, $0.01 par value 320,000,000 shares authorized; 223,231,546 shares issued as of December 31, 2025 and December 31, 2024	2	2	2	2	3
Additional capital	6,008	5,998	5,994	6,469	4,220
Retained earnings	5,373	5,170	5,379	4,130	4,414
Accumulated other comprehensive loss (Note 17)	−26	−47	−12	−22	3
Common stock held in treasury, at cost - 41,443,642 and 34,826,009 shares as of December 31, 2025 and December 31, 2024	−2,173	−1,845	−1,194	−1,335	—
Total HF Sinclair stockholders equity	9,184	9,278	10,169	9,244	5,688
Noncontrolling interest	65	68	68	774	607
Total equity	9,249	9,346	10,237	10,018	6,295
Total liabilities and equity	16,510	16,643	17,716	18,125	12,917

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Asset impairments	3	17	0	—	—
Earnings of equity method investments, net of distributions	−1	1	8	20	0
Loss on early extinguishment of debt	24	0	0	−1	—
Gain on sale of assets	−2	−2	−7	−2	−90
Loss on sale of equity method investment	47	0	0	—	—
Equity-based compensation expense	33	23	41	31	39
Change in fair value of derivative instruments	64	−34	17	10	−34
Accounts receivable	123	463	−17	−4	−614
Inventories	−171	138	30	−224	−345
Income taxes receivable	24	−14	−3	43	−6
Prepayments and other	2	11	8	−41	−19
Accounts payable	−345	25	−109	194	612
Income taxes payable	2	−6	1	−17	23
Accrued liabilities	62	−63	−30	78	84
Turnaround expenditures	−437	−413	−556	−145	−214
Other, net	−32	40	−32	32	−15
Net cash provided by operating activities	1,315	1,110	2,297	3,777	407
Additions to properties, plants and equipment	−449	−470	−385	−524	−725
Purchase of precious metals	−72	0	0	—	—
Proceeds from sale of assets	6	4	17	3	106
Other, net	−1	−2	−3	—	—
Net cash used for investing activities	−516	−468	−371	−774	−1,327
Borrowings under credit agreements	0	0	60	510	556
Repayments under credit agreements	−350	−106	−273	−682	−629
Proceeds from issuance of senior notes	1,890	0	0	400	0
Redemption of senior notes	−1,416	0	−308	−41	—
Purchase of treasury stock, inclusive of excise tax	−354	−672	−999	−1,372	−7
Dividends	−376	−386	−341	−256	−58
Distributions to noncontrolling interest	−10	−7	−102	−96	−75
Proceeds from financing arrangements	133	0	0	—	—
Payments on financing arrangements	−109	0	0	—	—
Payments on finance leases	−11	−11	−12	−12	−4
HEP Merger Transaction consideration	0	0	−268	0	0
Deferred financing costs	−25	0	−1	−9	−15
Other, net	−3	0	0	−3	−3
Net cash used for financing activities	−631	−1,182	−2,244	−1,561	−212
Effect of exchange rate on cash flow	10	−14	7	−11	−2
Net change for the period	178	−554	−311	1,431	−1,134
Cash paid for interest	−139	−164	−203	−160	−136
Increase (decrease) in accrued and unpaid capital expenditures	16	−1	−6	−32	−15

Filings

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