| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 93 | 10.3x | 17.8x | Top tier | |
Growth | 48 | 16.3% | 7.1% | Around median | |
Quality | 64 | 15.6% | 4.5% | Around median | |
Safety | 84 | 0.3x | 2.6x | Top tier | |
Capital Return | 52 | 1.85% | 2.12% | Around median | |
Momentum | 100 | 65.3% | 2.9% | Top tier | |
Sentiment | 92 | 9 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
HF Sinclair Corporation operates across an integrated energy value chain that includes oil refining, fuel marketing, transportation and storage, as well as renewable fuels and specialty oils and lubricants. The majority of its earnings come from refining, while Marketing, Midstream, Renewables, and Lubricants and Specialties provide additional income sources; in Q2 FY2026, adjusted EBITDA for these segments was $28 million, $112 million, $123 million, and $207 million, respectively, compared with $1 billion for the Refining segment.
In Q2 FY2026, the company reported revenue of $10.4 billion and net income attributable to shareholders of $892 million, equivalent to $4.93 per diluted share. After excluding special items that reduced net income by $68 million, adjusted net income was $960 million and adjusted earnings per share were $5.31, compared with adjusted net income of $322 million and earnings of $1.70 per share in Q2 FY2025; adjusted EBITDA also rose to $1.5 billion from $665 million.
The Q2 FY2026 earnings mix reflects strong benefits from refining margins and production volumes in the Mid-Con and West regions, as crude throughput increased to approximately 640 thousand barrels per day from 616 thousand a year earlier and exceeded the company's guidance range. At the same time, Renewables improved from an adjusted loss of $2 million to an adjusted profit of $123 million, and the contribution from Lubricants and Specialties jumped to $207 million from $55 million, broadening the earnings base beyond refining despite the segment's continued dominance.
The analyst consensus rating for DINO is "Buy," with an average price target of $89.71 and a wide range between $78 and $114; the average is below the 52-week range high of $100.13, while the highest target exceeds that high. The 52-week range of $45.71–$100.13 reflects the sensitivity of the company's valuation to the refining-margin cycle, while the separation of Lubricants and Specialties could support a revaluation of the more stable business, with separation costs and regulatory exposure to RINs remaining countervailing factors.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Net income attributable to shareholders was $892 million, or $4.93 per diluted share, in Q2 FY2026. After excluding $68 million in special items, adjusted net income reached $960 million and adjusted earnings per share reached $5.31, compared with $322 million and $1.70 in Q2 FY2025. The improvement came primarily from refining margins and volumes in Mid-Con and West, along with sharp increases in Renewables and Lubricants and Specialties.
HF Sinclair announced on July 28, 2026, that it is targeting a separation of the business through the capital markets within 12 to 18 months and under a structure it intends to be tax-efficient for the company and shareholders. Management expects the standalone entity, led by Matt Joyce, to operate under a less capital-intensive model, with a normalized EBITDA range of between $300 million and $350 million on a last-12-month basis. The business will retain Tulsa supply and work with global base oil suppliers, but it will also incur additional costs associated with establishing a standalone public company.
Refining remained the largest contributor, with adjusted EBITDA of $1 billion in Q2 FY2026 out of the group's total of $1.5 billion. However, Lubricants and Specialties generated $207 million, Renewables generated $123 million, Midstream generated $112 million, and Marketing generated $28 million. Branded fuel sales also rose to 387 million gallons, and the company added 63 locations, with more than 100 locations in the development pipeline over the next 6 to 12 months.
Automated analysis for informational purposes only — not investment advice.
HF Sinclair expects to process between 590 thousand and 620 thousand barrels of crude per day in Q3 FY2026, compared with approximately 640 thousand barrels per day in Q2. The decline reflects turnaround work at El Dorado beginning in September 2026, while the company also plans maintenance at the Renewables segment's Cheyenne facility during the quarter. In contrast, management said on July 28, 2026, that the refining environment remained supportive and that it expected a strong quarter excluding the impact of maintenance.
The first phase of Go West targets an increase in capacity of approximately 35 thousand barrels per day to transport Rockies production to Nevada, with startup targeted for 2029. Management explained that subsequent phases could raise total capacity to approximately 140–150 thousand barrels per day and open broader access to western markets, including California. However, the company did not provide economic guidance for the project on the July 28, 2026 call, and the final investment decision for the first phase was still in progress during FY2026.
On August 3, 2026, the U.S. Environmental Protection Agency deemed two hardship exemption petitions for two HF Sinclair refineries ineligible for the 2024 biofuel blending requirements, while granting a full exemption to a Delek refinery. The company had stated on the July 28, 2026 call that other petitions for 2023, 2024, and 2025 were still pending, and that delays in exemptions limit its ability to offset a material compliance burden. It also warned that the RINs bank could become negative or close to balance by the end of 2026, which could push prices higher if no regulatory or legislative relief occurs.
