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HF Sinclair DINO Refining — Goodwill

Discontinued — last reported Q4 '25

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Other financials

Income statement

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Revenue$7.1B+11.8%
Gross profit$1.2B+187%
Operating income$847.0M+946%
Net income$648.0M+16,300%
EPS (diluted)$3.56+17,900%

Balance sheet

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Cash & equivalents$1.1B+110%
Total debt$3.3B+4.1%
Total equity$9.7B+5.2%
Total assets$18.2B+9.9%

Cash flow

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Operating cash flow$457.0M+613%
CapEx$102.0M+18.6%
Free cash flow$355.0M+303%

Valuation

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Market cap$11.63B+81.6%
Enterprise value$13.73B+52.2%
P/E9.2×
P/S0.4×+0.3×

Profitability

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Gross margin11.1%+8.6pp
Operating margin6.1%
Net margin4.6%
FCF margin3.6%-4.2pp

Returns & leverage

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Return on equity13.4%
Debt / equity0.3×0.0×
Current ratio1.8×-0.1×

Where this comes from

Reported directly by HF Sinclair in its filing.

Tagged under the XBRL concept us-gaap:GoodwillGross.

The official record: HF Sinclair’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HF Sinclair's refining — goodwill?
HF Sinclair (DINO) reported refining — goodwill of $2.29B in Q4 2025.
How has HF Sinclair's refining — goodwill changed year-over-year?
HF Sinclair's refining — goodwill increased by 15.6% year-over-year, from $1.98B to $2.29B.
What does refining — goodwill mean?
The value of intangible assets acquired through business combinations in the refining segment.
How do you interpret refining — goodwill?
High levels of goodwill relative to total assets may indicate a history of acquisitions, which carries risk of future impairment if business performance declines.
How does refining — goodwill compare across companies?
Standard accounting metric found in balance sheets of companies that grow through M&A.