HF Sinclair Corp (DINO) financial statements: income statement, balance sheet and cash flow

HF Sinclair Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), HF Sinclair Corp reported revenue of $26.9B (-6.0% year on year) and net income of $586.0M (+218.5% year on year).

Income statement

HF Sinclair Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Sales and other revenues (Note 4)	$26.9B	$28.6B	$32.0B	$38.2B
Cost of materials and other	$21.8B	$24.6B	—	—
Lower of cost or market inventory valuation adjustments	$417.0M	($43.0M)	$270.4M	$52.4M
Operating expenses	$2.4B	$2.5B	—	—
Total cost of sales	$24.6B	$27.0B	$26.1B	$30.7B
Selling, general and administrative expenses	$456.0M	$447.0M	$498.2M	$426.5M
Depreciation and amortization	$909.0M	$832.0M	$770.6M	$656.8M
Other operating expenses, net	$9.0M	—	—	—
Total operating costs and expenses	$25.9B	$28.3B	$2.4B	$2.3B
Income from operations	$927.0M	$261.0M	$2.2B	$4.1B
Earnings of equity method investments	$33.0M	$32.0M	$17.4M	($260.0K)
Interest income	$42.0M	$75.0M	$93.5M	$30.2M
Interest expense	($217.0M)	($165.0M)	($190.8M)	($175.6M)
Other income (expense), net (Note 5)	($53.0M)	$15.0M	—	—
Total other income (expense)	($195.0M)	($43.0M)	($50.1M)	($118.2M)
Income before income taxes	$732.0M	$218.0M	$2.2B	$3.9B
Current	$139.0M	$83.0M	$249.1M	$841.7M
Deferred	$7.0M	($49.0M)	$192.6M	$53.2M
Total income tax expense	$146.0M	$34.0M	$441.6M	$894.9M
Net income	$586.0M	$184.0M	$1.7B	$3.0B
Less: net income attributable to noncontrolling interest	$7.0M	$7.0M	$121.2M	$118.5M
Net income attributable to HF Sinclair stockholders	$579.0M	$177.0M	$1.6B	$2.9B
Basic (in USD per share)	$3.08	$0.91	$8.29	$14.28
Diluted (in USD per share)	$3.08	$0.91	$8.29	$14.28
Basic (in shares)	186.5M	192.1M	190.0M	202.6M
Diluted (in shares)	186.5M	192.1M	190.0M	202.6M

HF Sinclair Corp income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Sales and other revenues (Note 3)	$10.4B	$7.1B	$7.3B	$6.8B
Cost of materials and other	$8.1B	$6.0B	$5.7B	$5.4B
Lower of cost or market inventory valuation adjustments (Note 9)	$30.0M	($672.0M)	$66.0M	$148.0M
Operating expenses	$654.0M	$624.0M	$590.0M	$572.0M
Total cost of sales	$8.8B	$5.9B	$6.3B	$6.2B
Selling, general and administrative expenses	$130.0M	$115.0M	$105.0M	$114.0M
Depreciation and amortization	$228.0M	$229.0M	$230.0M	$226.0M
Other operating expenses, net (Note 4)	$47.0M	$0	$4.0M	$9.0M
Total operating costs and expenses	$9.2B	$6.3B	$6.7B	$6.5B
Income (loss) from operations	$1.2B	$847.0M	$564.0M	$275.0M
Earnings of equity method investments	$6.0M	$8.0M	$6.0M	$10.0M
Interest income	$15.0M	$10.0M	$11.0M	$7.0M
Interest expense	($20.0M)	($41.0M)	($51.0M)	($53.0M)
Other income (expense), net	$3.0M	$15.0M	($2.0M)	$7.0M
Total other income (expense)	$4.0M	($8.0M)	($36.0M)	($29.0M)
Income before income taxes	$1.2B	$839.0M	$528.0M	$246.0M
Current	$249.0M	$96.0M	$74.0M	$32.0M
Deferred	$30.0M	$93.0M	$49.0M	$4.0M
Total income tax expense	$279.0M	$189.0M	$123.0M	$36.0M
Net income	$893.0M	$650.0M	$405.0M	$210.0M
Less: net income attributable to noncontrolling interests	$1.0M	$2.0M	$2.0M	$2.0M
Net income attributable to HF Sinclair stockholders	$892.0M	$648.0M	$403.0M	$208.0M
Basic (in USD per share)	$4.93	$3.56	$2.15	$1.10
Diluted (in USD per share)	$4.93	$3.56	$2.15	$1.10
Basic (in shares)	179.4M	180.7M	186.5M	188.1M
Diluted (in shares)	179.4M	180.7M	186.5M	188.1M

Balance sheet

HF Sinclair Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$978.0M	$800.0M	$1.4B	$1.7B
Accounts receivable, net: Product and transportation	$1.0B	$1.1B	$1.5B	$1.6B
Crude oil resales	$103.0M	$177.0M	$197.2M	$77.0M
Total Accounts Receivable, net	$1.1B	$1.3B	$1.7B	$1.7B
Inventories: Crude oil and refined products (Note 9)	$2.2B	$2.5B	—	—
Materials, supplies and other	$359.0M	$303.0M	$276.1M	—
Total inventories	$2.6B	$2.8B	$2.9B	$3.2B
Income taxes receivable (Note 15)	$47.0M	$70.0M	$56.5M	$53.6M
Prepayments and other	$78.0M	$95.0M	$89.2M	$112.0M
Total current assets	$4.8B	$5.0B	$6.1B	$6.7B
Properties, plants and equipment, at cost (Note 10)	$11.4B	$10.9B	$10.5B	$10.1B
Less: accumulated depreciation	($4.9B)	($4.4B)	($3.9B)	($3.5B)
Properties, plants and equipment, net	$6.5B	$6.6B	$6.6B	$6.7B
Operating lease right-of-use assets (Note 2)	$349.0M	$355.0M	$348.0M	$351.1M
Other assets: Turnaround costs	$883.0M	$777.0M	$645.0M	$376.2M
Goodwill (Note 11)	$3.0B	$3.0B	$3.0B	$3.0B
Intangibles and other (Note 11)	$955.0M	$962.0M	$972.3M	$982.7M
Total other assets	$4.8B	$4.7B	$4.6B	$4.3B
Total assets	$16.5B	$16.6B	$17.7B	$18.1B
Accounts payable	$1.9B	$2.2B	$2.2B	$2.3B
Income taxes payable (Note 15)	$5.0M	$3.0M	$8.8M	$7.8M
Operating lease liabilities (Note 2)	$85.0M	$77.0M	$107.0M	$109.9M
Current debt (Note 13)	$0	$350.0M	$0	$307.0M
Accrued liabilities (Note 12)	$493.0M	$377.0M	$453.0M	$486.7M
Total current liabilities	$2.5B	$3.0B	$2.8B	$3.2B
Long-term debt (Note 13)	$2.8B	$2.3B	$2.7B	$2.9B
Noncurrent operating lease liabilities (Note 2)	$289.0M	$301.0M	$249.5M	$254.2M
Deferred income taxes (Note 15)	$1.2B	$1.2B	$1.3B	$1.3B
Other long-term liabilities (Note 12)	$478.0M	$441.0M	$418.7M	$397.5M
Total liabilities	$7.3B	$7.3B	—	—
Preferred stock, $1.00 par value – 5,000,000 shares authorized; none issued	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	2.0M	2.0M	2.2M	2.2M
Additional capital	$6.0B	$6.0B	$6.0B	$6.5B
Retained earnings	$5.4B	$5.2B	$5.4B	$4.1B
Accumulated other comprehensive loss (Note 17)	($26.0M)	($47.0M)	($11.8M)	($22.0M)
Common stock held in treasury, at cost - 41,443,642 and 34,826,009 shares as of December 31, 2025 and December 31, 2024	-2.2B	-1.8B	-1.2B	—
Total HF Sinclair stockholders’ equity	$9.2B	$9.3B	$10.2B	$9.2B
Noncontrolling interest	$65.0M	$68.0M	$68.2M	$773.8M
Total equity	$9.2B	$9.3B	$10.2B	$10.0B
Total liabilities and equity	$16.5B	$16.6B	$17.7B	$18.1B

HF Sinclair Corp balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$2.3B	$1.1B	$1.5B	$874.0M
Accounts receivable, net: Product and transportation	$1.6B	$1.6B	$1.2B	$1.2B
Crude oil resales	$150.0M	$298.0M	$111.0M	$184.0M
Total Accounts receivable, net	$1.7B	$1.9B	$1.3B	$1.4B
Inventories: Crude oil and refined products (Note 9)	$2.9B	$2.9B	$2.5B	$2.5B
Materials, supplies and other	$359.0M	$374.0M	$295.0M	$302.0M
Total inventories	$3.3B	$3.3B	$2.8B	$2.8B
Income taxes receivable	$2.0M	$10.0M	$17.0M	$54.0M
Prepayments and other	$102.0M	$119.0M	$62.0M	$75.0M
Total current assets	$7.4B	$6.4B	$5.6B	$5.2B
Properties, plants and equipment, at cost	$11.5B	$11.5B	$11.3B	$11.1B
Less: accumulated depreciation	($5.1B)	($5.0B)	($4.7B)	($4.6B)
Total properties, plants and equipment	$6.4B	$6.5B	$6.5B	$6.5B
Operating lease right-of-use assets	$362.0M	$371.0M	$361.0M	$363.0M
Other assets: Turnaround costs	$876.0M	$926.0M	$840.0M	$888.0M
Goodwill	$3.0B	$3.0B	$3.0B	$3.0B
Equity method investments	$259.0M	$254.0M	—	—
Intangibles and other	$702.0M	$710.0M	$929.0M	$923.0M
Total other assets	$4.8B	$4.9B	$4.7B	$4.8B
Total assets	$19.0B	$18.2B	$17.3B	$16.8B
Accounts payable	$2.5B	$2.7B	$2.2B	$2.2B
Income taxes payable	$149.0M	$14.0M	$12.0M	$2.0M
Operating lease liabilities	$90.0M	$93.0M	$86.0M	$84.0M
Accrued liabilities (Note 10)	$1.0B	$801.0M	$642.0M	$549.0M
Total current liabilities	$3.7B	$3.6B	$3.0B	$2.8B
Long-term debt, net (Note 12)	$2.8B	$2.8B	$2.8B	$2.7B
Noncurrent operating lease liabilities	$297.0M	$304.0M	$301.0M	$304.0M
Deferred income taxes	$1.4B	$1.3B	$1.3B	$1.2B
Other long-term liabilities (Note 10)	$471.0M	$448.0M	$465.0M	$434.0M
Total liabilities	$8.6B	$8.4B	$7.8B	$7.5B
Preferred stock, $1.00 par value – 5,000,000 shares authorized; none issued	0	0	0	0
Common stock, $0.01 par value – 320,000,000 shares authorized; 223,231,546 shares issued as of June 30, 2026 and December 31, 2025	2.0M	2.0M	2.0M	2.0M
Additional capital	$6.0B	$6.0B	$6.0B	$6.0B
Retained earnings	$6.7B	$5.9B	$5.5B	$5.2B
Accumulated other comprehensive loss (Note 15)	($46.0M)	($34.0M)	($27.0M)	($20.0M)
Common stock held in treasury, at cost – 45,447,697 and 41,443,642 shares as of June 30, 2026 and December 31, 2025	-2.4B	-2.2B	-2.1B	-1.9B
Total HF Sinclair stockholders’ equity	$10.3B	$9.7B	$9.4B	$9.3B
Noncontrolling interests	$65.0M	$65.0M	$65.0M	$66.0M
Total equity	$10.3B	$9.7B	$9.5B	$9.3B
Total liabilities and equity	$19.0B	$18.2B	$17.3B	$16.8B

Cash flow statement

HF Sinclair Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$586.0M	$184.0M	$1.7B	$3.0B
Depreciation and amortization	$909.0M	$832.0M	$770.6M	$656.8M
Asset impairments	$3.0M	$17.0M	—	—
Lower of cost or market inventory valuation adjustments	$417.0M	($43.0M)	$270.4M	$52.4M
Earnings of equity method investments, net of distributions	($1.0M)	$1.0M	$8.1M	$19.8M
Loss on early extinguishment of debt	$24.0M	$0	$0	($604.0K)
Gain on sale of assets	($2.0M)	($2.0M)	($6.9M)	($2.1M)
Loss on sale of equity method investment	$47.0M	—	—	—
Deferred income tax expense (benefit)	$7.0M	($49.0M)	$192.6M	$53.2M
Equity-based compensation expense	$33.0M	$23.0M	$41.1M	$30.3M
Change in fair value of derivative instruments	$64.0M	($34.0M)	$16.6M	$10.0M
Accounts receivable	$123.0M	$463.0M	($17.1M)	($4.3M)
Inventories	($171.0M)	$138.0M	$30.2M	($224.4M)
Income taxes receivable	$24.0M	($14.0M)	($2.7M)	$42.6M
Prepayments and other	$2.0M	$11.0M	$8.1M	($40.8M)
Accounts payable	($345.0M)	$25.0M	($108.9M)	$194.4M
Income taxes payable	$2.0M	($6.0M)	$925.0K	($17.2M)
Accrued liabilities	$62.0M	($63.0M)	($29.6M)	$78.3M
Turnaround expenditures	($437.0M)	($413.0M)	($555.7M)	($144.8M)
Other, net	($32.0M)	$40.0M	($31.3M)	$32.3M
Net cash provided by operating activities	$1.3B	$1.1B	$2.3B	$3.8B
Additions to properties, plants and equipment	($449.0M)	($470.0M)	($353.5M)	($485.0M)
Purchase of precious metals	($72.0M)	—	—	—
Proceeds from sale of assets	$6.0M	$4.0M	$17.4M	$3.3M
Other, net	($1.0M)	—	—	—
Net cash used for investing activities	($516.0M)	($468.0M)	($371.3M)	($774.5M)
Borrowings under credit agreements	$0	$0	$60.0M	$510.0M
Repayments under credit agreements	($350.0M)	($106.0M)	($272.5M)	($682.0M)
Proceeds from issuance of senior notes	$1.9B	$0	$0	$0
Redemption of senior notes	($1.4B)	$0	($307.8M)	($41.4M)
Purchase of treasury stock, inclusive of excise tax	($354.0M)	($672.0M)	($999.3M)	($1.4B)
Dividends	($376.0M)	($386.0M)	($340.7M)	($255.9M)
Distributions to noncontrolling interest	($10.0M)	($7.0M)	($102.5M)	($96.2M)
Proceeds from financing arrangements	$133.0M	—	—	—
Payments on financing arrangements	($109.0M)	—	—	—
Payments on finance leases	($11.0M)	($11.0M)	($11.9M)	($11.7M)
HEP Merger Transaction consideration	$0	$0	($267.6M)	—
Deferred financing costs	($25.0M)	$0	($899.0K)	($9.3M)
Other, net	($3.0M)	$0	($600.0K)	($2.5M)
Net cash used for financing activities	($631.0M)	($1.2B)	($2.2B)	($1.6B)
Effect of exchange rate on cash flow	$10.0M	($14.0M)	$6.7M	($11.3M)
Net change for the period	$178.0M	($554.0M)	($311.3M)	$1.4B
Cash and cash equivalents at beginning of period	$800.0M	$1.4B	$1.7B	$234.4M
Cash and cash equivalents at end of period	$978.0M	$800.0M	—	—
Cash paid for interest	($139.0M)	($164.0M)	($203.1M)	($160.4M)

HF Sinclair Corp cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.5B	$650.0M	$613.0M	$208.0M
Depreciation and amortization	$457.0M	$229.0M	$681.0M	$451.0M
Asset impairments	$47.0M	$0	$1.0M	$1.0M
Lower of cost or market inventory valuation adjustments	($642.0M)	($672.0M)	$97.0M	$31.0M
Earnings of equity method investments, net of distributions	($12.0M)	($7.0M)	($6.0M)	($1.0M)
Loss on early extinguishment of debt	$0	$0	$24.0M	$16.0M
Gain on sale of assets	$0	—	($1.0M)	($1.0M)
Loss on sale of equity method investment	$0	$0	$40.0M	$40.0M
Deferred income tax expense	$123.0M	$93.0M	$54.0M	$5.0M
Equity-based compensation expense	$15.0M	$7.0M	$20.0M	$13.0M
Change in fair value – derivative instruments	($56.0M)	($16.0M)	$41.0M	$40.0M
Accounts receivable	($609.0M)	($753.0M)	($73.0M)	($96.0M)
Inventories	($65.0M)	($20.0M)	($65.0M)	($25.0M)
Income taxes receivable	$45.0M	$36.0M	$53.0M	$17.0M
Prepayments and other	($7.0M)	($10.0M)	$18.0M	$3.0M
Accounts payable	$608.0M	$777.0M	($16.0M)	($22.0M)
Income taxes payable	$145.0M	$9.0M	$9.0M	$0
Accrued liabilities	$551.0M	$277.0M	$157.0M	$156.0M
Turnaround expenditures	($175.0M)	($119.0M)	($315.0M)	($284.0M)
Other, net	($1.0M)	($24.0M)	($25.0M)	($54.0M)
Net cash provided by operating activities	$2.0B	$457.0M	$1.3B	$498.0M
Additions to properties, plants and equipment	($220.0M)	($102.0M)	($318.0M)	($197.0M)
Acquisitions, net of cash acquired	($38.0M)	($38.0M)	—	—
Investment in equity method investment	($22.0M)	($21.0M)	—	$0
Proceeds from sale of assets	$0	—	$5.0M	$2.0M
Other, net	$0	$0	($28.0M)	—
Net cash used for investing activities	($280.0M)	($161.0M)	($341.0M)	($193.0M)
Purchase of treasury stock, inclusive of excise tax	($255.0M)	($76.0M)	($216.0M)	($50.0M)
Dividends	($180.0M)	($91.0M)	($284.0M)	($190.0M)
Payments on financing arrangements	($25.0M)	($25.0M)	—	—
Distributions to noncontrolling interests	($3.0M)	($2.0M)	($9.0M)	($6.0M)
Proceeds from financing arrangements	$71.0M	$71.0M	—	—
Redemption of senior notes	$0	$0	($1.4B)	($1.0B)
Repayments under credit agreements	$0	$0	($350.0M)	($350.0M)
Proceeds from issuance of senior notes	$0	$0	$1.9B	$1.4B
Deferred financing costs	$0	$0	($25.0M)	($19.0M)
Other, net	($8.0M)	($2.0M)	($4.0M)	($3.0M)
Net cash used for financing activities	($400.0M)	($125.0M)	($323.0M)	($239.0M)
Effect of exchange rate on cash flow	($3.0M)	($1.0M)	$8.0M	$8.0M
Net change for the period	$1.3B	$170.0M	$651.0M	$74.0M
Cash and cash equivalents at beginning of period	$978.0M	$978.0M	$800.0M	$800.0M
Cash and cash equivalents at end of period	$2.3B	$1.1B	$1.5B	$874.0M
Cash paid for interest	($83.0M)	($72.0M)	($127.0M)	($63.0M)
Decrease in accrued and unpaid capital expenditures	($16.0M)	($14.0M)	$0	($8.0M)

HF Sinclair Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.