Par Pacific Holdings (PARR) AI Stock Analysis

• Market Cap: $1.79B
• Dividend Yield: N/A
• Average Volume (3M): 1.21M
• Price to Earnings (P/E): 7.4
• Beta (1Y): 0.71
• Revenue Growth: -10.11%
• EPS Growth: -7.00%
• Country: US
• Employees: 1,787
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 5.95
• Shares Outstanding: 50,291,042
• 10 Day Avg. Volume: 1,415,586
• 30 Day Avg. Volume: 1,212,697
• PEG Ratio: 0.27
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 0.12
• P/FCF Ratio: -17.98
• Enterprise Value/Market Cap: 1.85
• Enterprise Value/Revenue: 0.44
• Enterprise Value/Gross Profit: 3.02
• Enterprise Value/Ebitda: 6.11
• 1Y Price Target: $46.43
• Price Target Upside: 32.62% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 6.79
• Revenue Forecast (FY): $7.31B

• Rating: 67 Neutral
• Price Target: $41.00 ▲(17.11% Upside)

Par Pacific Holdings demonstrates strong valuation and positive corporate events, contributing to a favorable outlook. However, financial performance and technical analysis reveal challenges, including cash flow issues and bearish market momentum, which moderate the overall score.

Positive Factors

Joint Venture for Renewable Fuels

The joint venture for renewable fuels positions Par Pacific in the growing renewable energy sector, enhancing its long-term strategic growth and sustainability efforts.

Improved Leverage Management

Improved leverage management strengthens Par Pacific's balance sheet, providing greater financial stability and flexibility for future investments and operations.

Repricing of Term Loan

The repricing of the term loan reduces borrowing costs, improving Par Pacific's financial profile and enhancing its ability to invest in growth opportunities.

Negative Factors

Inconsistent Revenue Growth

Inconsistent revenue growth can hinder Par Pacific's ability to plan and execute long-term strategies, affecting its competitive position and market confidence.

Cash Flow Challenges

Negative free cash flow growth limits Par Pacific's ability to reinvest in its operations and pursue strategic initiatives, potentially impacting long-term growth.

Washington Capture Rates

Lower capture rates in Washington reflect operational challenges that could affect profitability and market competitiveness if not addressed.

Par Pacific Holdings Business Overview & Revenue Model

Company Description

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 three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota. The Retail segment operates 119 fuel retail outlets, which sell merchandise, such as soft drinks, prepared foods, and other sundries in Hawaii under the Hele, 76, and nomnom brands; and gasoline, diesel, and retail merchandise in Washington and Idaho under the Cenex, nomnom, and Zip Trip brand names. The Logistics segment owns and operates terminals, pipelines, a single point mooring, and trucking operations to distribute refined products throughout the island of Oahu, Maui, Hawaii, Molokai, and Kauai. It also leases marine vessels; owns and operates a crude oil pipeline gathering system, a refined products pipeline, storage facilities, and loading racks in Wyoming; and a jet fuel storage facility and pipeline that serves Ellsworth Air Force Base in South Dakota. In addition, this segment owns and operates a marine terminal, a unit train-capable rail loading terminal, storage facilities, a truck rack, and a proprietary pipeline that serves Joint Base Lewis McChord. The company was formerly known as Par Petroleum Corporation and changed its name to Par Pacific Holdings, Inc. in October 2015. Par Pacific Holdings, Inc. was incorporated in 1984 and is headquartered in Houston, Texas.

How the Company Makes Money

Par Pacific generates revenue primarily through its refining operations, where it earns money by processing crude oil and selling the refined products such as gasoline and diesel. The company benefits from the margins between the cost of crude oil and the selling prices of refined products. Key revenue streams also include logistics and transportation services, where Par Pacific charges for the movement and storage of petroleum products. Furthermore, retail operations contribute to the revenue through direct sales at convenience stores and gas stations. Strategic partnerships with suppliers and distributors, along with favorable market conditions in the energy sector, play a significant role in enhancing its earnings.

Par Pacific Holdings Financial Statement Overview

Summary

Par Pacific Holdings has shown improvements in profitability and operational efficiency, but faces challenges with leverage and cash flow management. The income statement is strong, but the balance sheet and cash flow metrics reveal ongoing risks.

Income Statement

Par Pacific Holdings has shown strong gross profit margins, particularly in the TTM period, with a notable improvement from previous years. The net profit margin has also turned positive, indicating improved profitability. However, revenue growth has been inconsistent, with a recent decline in the TTM period. The EBIT and EBITDA margins have shown improvement, reflecting better operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved significantly in the TTM period, indicating better leverage management. However, it remains a concern compared to industry norms. Return on equity has improved, showing better profitability relative to shareholder equity. The equity ratio is low, suggesting a higher reliance on debt financing.

Cash Flow

Cash flow metrics indicate challenges, with negative free cash flow growth in the TTM period. The operating cash flow to net income ratio is weak, suggesting issues in converting income into cash. However, the free cash flow to net income ratio is strong, indicating efficient cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.48B	7.97B	8.23B	7.32B	4.71B	3.12B
Gross Profit	1.09B	741.72M	1.27B	846.00M	277.37M	87.14M
EBITDA	539.72M	175.37M	805.59M	532.96M	80.46M	-269.55M
Net Income	236.00M	-33.32M	728.64M	364.19M	-81.30M	-409.09M
Balance Sheet
Total Assets	4.08B	3.83B	3.86B	3.28B	2.57B	2.13B
Cash, Cash Equivalents and Short-Term Investments	159.41M	191.92M	279.11M	490.93M	112.22M	68.31M
Total Debt	1.65B	1.57B	1.02B	870.63M	960.98M	1.08B
Total Liabilities	2.68B	2.64B	2.53B	2.64B	2.30B	1.89B
Stockholders Equity	1.40B	1.19B	1.34B	644.54M	265.70M	246.27M
Cash Flow
Free Cash Flow	87.33M	-51.76M	496.88M	399.58M	-57.16M	-100.74M
Operating Cash Flow	256.34M	83.78M	579.16M	452.61M	-27.62M	-37.21M
Investing Cash Flow	-166.73M	-133.99M	-659.04M	-87.31M	74.63M	-63.46M
Financing Cash Flow	-113.53M	-36.96M	-135.60M	13.41M	-1.09M	42.56M

Par Pacific Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 35.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PARR, the sentiment is Negative. The current price of 35.01 is below the 20-day moving average (MA) of 40.93, below the 50-day MA of 40.98, and above the 200-day MA of 29.43, indicating a neutral trend. The MACD of -1.84 indicates Positive momentum. The RSI at 27.09 is Positive, neither overbought nor oversold. The STOCH value of 8.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PARR.

Par Pacific Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUN	72 Outperform	$8.04B	17.90	8.27%	6.88%	-5.18%	-33.14%
DINO	68 Neutral	$8.53B	22.30	4.07%	4.26%	-9.55%	27.65%
PARR	67 Neutral	$1.79B	7.36	17.81%	―	-10.11%	-7.00%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
CVI	60 Neutral	$2.65B	15.85	21.78%	10.50%	-7.21%	135.72%
PBF	55 Neutral	$3.07B	-5.61	-9.47%	4.14%	-15.35%	-81.94%
DK	49 Neutral	$1.78B	-3.62	-115.95%	3.42%	-22.37%	-27.22%

Par Pacific Holdings Corporate Events

Par Pacific amends term loan to reduce borrowing costs

On December 17, 2025, Par Pacific Holdings, Inc. and its affiliates amended their existing term loan credit agreement, securing a 50-basis-point reduction in the applicable margin so that base rate and SOFR loans now bear interest at the base rate plus 2.25% and 3.25%, respectively, which should lower borrowing costs and modestly improve the company’s financing profile. Separately, on December 16, 2025, its renewable fuels joint venture Hawaii Renewables, LLC entered into an uncommitted $25 million letter of credit facility with Wells Fargo to support payments to crude oil and soybean oil suppliers and executed an amended and restated pledge and security agreement that expands and refines the collateral granted to Wells Fargo, tightening the security structure around derivatives and letter of credit obligations and reinforcing the financial framework for the venture’s feedstock procurement.

Par Pacific Holdings Forms Joint Venture for Renewable Fuels

On October 21, 2025, Par Pacific Holdings announced the closing of a joint venture with Alohi Renewable Energy LLC to develop a renewable fuels manufacturing facility in Kapolei, Hawaii. This joint venture, in which Mitsubishi Corporation and ENEOS Corporation acquired a 36.5% equity stake, aims to produce renewable diesel, sustainable aviation fuel, renewable naphtha, and low carbon liquified petroleum gases, with the facility expected to be the state’s largest, producing approximately 61 million gallons per year.

Par Pacific Holdings Signs Framework Agreement with Wells Fargo

On October 2, 2025, Hawaii Renewables, a subsidiary of Par Pacific Holdings, entered into a Framework Agreement with Wells Fargo for commodity swap transactions involving soybean oil and crude oil. This agreement, which includes a related ISDA Master Agreement, outlines monthly prepaid swaps and is set for an initial one-year term with automatic renewals. The arrangement aims to support HR’s payment obligations and inventory management, while Par Pacific guarantees HR’s obligations under these agreements. Additionally, HR granted Wells Fargo a security interest in certain collateral to secure its obligations, and both parties agreed on a Credit Support Annex to manage collateral delivery based on market exposure.