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PAR PACIFIC HOLDINGS, INC. (PARR)

As-reported financials and SEC filings for PAR PACIFIC HOLDINGS, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About PAR PACIFIC HOLDINGS, INC.

Par Pacific Holdings, Inc. is an energy company based in Houston, Texas, that provides renewable and conventional fuels primarily to the western United States. It operates through three main segments: refining, retail, and logistics. The company owns and runs four refineries in Hawaii, Wyoming, Washington, and Montana, operates fuel retail outlets under various brands in Hawaii, Washington, and Idaho, and manages a multi-modal logistics network for transporting petroleum products across the Pacific and western U.S. regions.

Snapshot

Revenue
$7.46B
Revenue growth (YoY)
-6.4%
Net income
$369.4M
Diluted EPS
$7.16
Gross margin
Operating margin
7.2%
Net margin
4.9%
FCF margin
4.0%
ROE
24.4%
net income / fiscal-year-end equity
P/E
4.3×
trailing when available, otherwise FY EPS
Market cap
$3.80B
Long-term debt / equity
0.53×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Par Pacific Holdings

  • Revenue fell 6.4% to $7.5B in FY2025, after a 3.1% decline the year before.
  • Operating margin turned positive at 7.2% in FY2025, from a 0.2% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $3.0B, up 56.8% from Q2 FY2025.
  • Free cash flow was $296M in FY2025, 4.0% of revenue.
  • Net income turned positive at $369M in FY2025, from a $33M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Par Pacific Holdings’s fundamentals sit among the 61 oil and gas companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin7.2%
39th percentile of 50
Net margin4.9%
39th percentile of 58
FCF margin4.0%
37th percentile of 20
Revenue growth (YoY)-6.4%
24th percentile of 59
ROE24.4%
94th percentile of 49
P/E4.3×
3rd percentile of 41
Long-term debt / equity0.53×
61st percentile of 37
Short interest3.83d
44th percentile of 60

Par Pacific Holdings’s P/E of 4.3 ranks in the 3rd percentile of the 41 peers with a meaningful P/E. Par Pacific Holdings’s return on equity of 24.4% ranks in the 94th percentile of the 49 oil and gas companies reporting it.

No reported insider purchases (code P) in the last 90 days; 9 insider sales totaling $9.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
3
0 new, 3 added
Reduced / exited
5
5 trimmed, 0 exited
Combined position
$129.2M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$46.4M827.0KAdded
Renaissance TechnologiesquantQ2 2026$29.4M524.0KAdded
AQR Capital ManagementquantQ2 2026$20.3M362.0KReduced
Citadel AdvisorsquantQ2 2026$10.9M194.8KReduced
Millennium ManagementquantQ2 2026$10.1M180.8KReduced
D. E. ShawquantQ2 2026$7.6M136.3KReduced
Bridgewater AssociatesQ2 2026$2.9M52.3KAdded
Gotham Asset ManagementQ2 2026$1.4M25.8KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
9
$9.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-18
filed 2026-08-19
PATE WILLIAMDirectorSell41.8K$80.44$3.4M
2026-08-18
filed 2026-08-19
PATE WILLIAMDirectorSell21.0K$80.97$1.7M
2026-08-18
filed 2026-08-19
PATE WILLIAMDirectorSell6.0K$82.17$496K
2026-08-17
filed 2026-08-19
PATE WILLIAMDirectorSell20.6K$82.32$1.7M
2026-08-17
filed 2026-08-18
Clossey TimothyDirectorSell5.4K$83.02$450K
2026-08-17
filed 2026-08-18
Guerra Ivan DanielChief Accounting OfficerSell2.1K$82.37$176K
2026-08-14
filed 2026-08-18
Clossey TimothyDirectorSell8.0K$81.50$653K
2026-08-07
filed 2026-08-11
Mattiussi DanielleSee RemarksSell3.3K$67.29$221K
2026-08-06
filed 2026-08-10
Creamer RichardEVP - Refining and LogisticsSell14.1K$67.67$957K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.7M
settled 2026-08-14
Change vs prior
+3.8%
vs previous settlement
Days to cover
3.83
at avg daily volume
Avg daily volume
1.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.7M+3.8%3.83
2026-07-314.6M+0.7%4.61
2026-07-154.5M-3.0%4.72
2026-06-304.7M+2.7%4.83
2026-06-154.6M-5.8%5.95
2026-05-294.8M+18.3%4.05
2026-05-154.1M+19.3%2.99
2026-04-303.4M-11.4%2.39

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$7.46B$7.97B$8.23B$7.32B$4.71B
Gross profit
Operating income$538.8M$47.6M$680.0M$437.9M$-7.6M
Net income$369.4M$-33.3M$728.6M$364.2M$-81.3M
Diluted EPS$7.16$-0.59$11.94$6.08$-1.40

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$445.3M$83.8M$579.2M$452.6M$-27.6M
Capital expenditure$148.9M$135.5M$82.3M$53.0M$29.5M
Free cash flow$296.5M$-51.8M$496.9M$399.6M$-57.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$2.97B56.8%$462.1M$9.35
Q1 FY2026$1.82B4.5%$54.5M$1.10
Q4 FY2025$1.81B-1.0%$77.7M$1.53
Q3 FY2025$2.01B-6.1%$262.6M$5.16
Q2 FY2025$1.89B-6.1%$59.5M$1.17
Q1 FY2025$1.75B-11.9%$-30.4M$-0.57
Q4 FY2024$1.83B-16.1%$-55.7M$-1.05
Q3 FY2024$2.14B-16.9%$7.5M$0.13

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryCrude Petroleum & Natural Gas
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK821483

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-25
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-05-14
View on EDGAR →
8-K2026-05-11
View on EDGAR →

Largest oil and gas peers

All oil and gas stocksAll Energy companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.