Par Pacific Holdings, Inc. (PARR) Stock

Par Pacific Holdings, Inc. (PARR) is a Energy stock trading at $72.39 (as of 2026-08-20), with a market capitalization of $3.63B and a trailing P/E of 10.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Par Pacific Holdings, Inc. owns and operates energy and infrastructure businesses through Refining, Retail, and Logistics segments. It produces refined fuels at three refineries, operates fuel retail outlets and related merchandise brands, and provides distribution services via terminals, pipelines, marine and trucking operations across Hawaii and other regional markets.

Understand Par Pacific Holdings, Inc.: how it makes money

Par Pacific Holdings operates refining, retail fuel outlets, and a logistics business, making money by producing refined petroleum products at its refineries and selling fuel and other merchandise through its 119 retail outlets.

The profit model is structurally driven by refinery performance, where operational availability and throughput feed into the Refining segment's adjusted EBITDA, and that refining earnings power is complemented by retail sales volumes and logistics earnings.

Business quality (Weak): Clear operating focus (refining availability and throughput, plus retail sales volumes), but investor attention should center on how much the refining asset performance translates into segment adjusted EBITDA, since that appears to be the dominant operating metric.

Valuation: At 6× earnings, PARR trades 64% below the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

Refining operations appear highly reliable, with Operational Availability of 99.0 percent: Strong availability supports steady refinery output, which feeds into the Refining segment's adjusted EBITDA.
Scale in refining and retail operations, including Combined Refinery Throughput of 191,000 barrels per day and 119 fuel retail outlets: Higher throughput and a sizable retail footprint can help underpin segment adjusted EBITDA and retail sales volumes.

Bear case

Segment results are tied to Refining segment adjusted EBITDA and operational performance: If operational availability or throughput falls, the Refining segment's adjusted EBITDA could be pressured, which can flow through to overall profitability.
Retail contribution depends on retail sales volume dynamics, shown by Retail Fuel Sales Volume of 28,064,000: Lower retail fuel sales volume would likely reduce the Retail segment's adjusted EBITDA contribution.

Valuation — source: SEC EDGAR (first-party)
Price	$72.39
Market Cap	$3.63B
P/E Ratio	10.5
EV / EBITDA	6.8
Price / Book	2.39
Price / Sales	0.49
FCF Yield	4.1%
DCF Value (model)	$147.10
DCF Upside vs Price	103.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$7.46B
Net Margin	4.9%
Revenue Growth (YoY)	-6.4%
EPS Growth (YoY)	-1333.9%
FCF Growth (YoY)	-672.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.73 (safe)

Valuation vs Sector & Industry
Stock P/E	10.5
Sector P/E (Energy)	16.8
Industry P/E (Petroleum & Natural Gas)	16.7
vs Sector	-37.5%
vs Industry	-37.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($463.98M)
Institutional Holders Tracked	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	William Monteleone
Employees	1,787
Country	US
IPO Date	2012-09-05

Related Companies (Business model: Exploration & Production (Upstream Oil & Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.