PARRPar Pacific Holdings, Inc.
Is the business good?
The checks split: margins widening, but thin cash backing (0.6×).
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 29% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PARR?
Par Pacific Holdings, Inc. earns 36% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 27 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Oil & Gas Refining & Marketing median 5.8% · 12 months to Q2 2026
- Cash conversion
- 0.63×
Cash conversion · 3.51× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- −2.7%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −10% |
| FY2021 | −0.16% |
| FY2022 | 6.0% |
| FY2023 | 8.3% |
| FY2024 | 0.60% |
| FY2025 | 7.2% |
Details›
- Gross margin12 months to Q2 2026
- 23%
- Operating margin12 months to Q2 2026
- 13%
- Net margin12 months to Q2 2026
- 9.9%
- Free cash flow margin
- 4.8%
- Revenue, trailing twelve months
- $8.62B
- Free cash flow, trailing twelve months
- $412M
- Net income, trailing twelve months
- $857M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 36%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Oil & Gas Refining & Marketing
Ranks #3 of 9 by RyuScore