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HF Sinclair DINO Refining — Inventory Adjustments

Discontinued — last reported Q4 '21

Similar metrics at other companies

LYBRefining — LCM inventory valuation charge (benefit)

-$11M—

LYBRefining — Impairment of materials and supplies

$43M—

LYBRefining — Materials and supplies fair value

$0—

SUNFuel Distribution and Marketing — Inventory adjustments

-$120M-20.0%

SNEXCrude Oil And Low Sulfur Fuel Oil — Inventory adjustments

$7.6M—

LYBRefining — Impairment of intangible assets

$32M—

Other financials

Income statement

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

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

Operating cash flow$457.0M+613%

CapEx$102.0M+18.6%

Free cash flow$355.0M+303%

Valuation

Market cap$11.63B+81.6%

Enterprise value$13.73B+52.2%

P/E9.2×—

P/S0.4×+0.3×

Profitability

Gross margin11.1%+8.6pp

Operating margin6.1%—

Net margin4.6%—

FCF margin3.6%-4.2pp

Returns & leverage

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:InventoryAdjustments.

The official record: HF Sinclair’s 10-K, filed February 28, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is HF Sinclair's refining — inventory adjustments?: HF Sinclair (DINO) reported refining — inventory adjustments of -$318.9M in Q4 2021.
What does refining — inventory adjustments mean?: Accounting adjustments made to inventory value due to market price fluctuations.
How do you interpret refining — inventory adjustments?: Negative adjustments signal falling market prices for refined products, hurting margins.
How does refining — inventory adjustments compare across companies?: Standard inventory valuation metric for commodity-based businesses.