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HF Sinclair DINO Refining — Operating Expenses

Other segment segments

Lubricants & Specialties
$74M+15.6%
Midstream
$59M+28.3%
Renewables
$22M-4.3%
Marketing
$0

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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:DirectOperatingCosts.

The official record: HF Sinclair’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HF Sinclair's refining — operating expenses?
HF Sinclair (DINO) reported refining — operating expenses of $468M in Q1 2026.
How has HF Sinclair's refining — operating expenses changed year-over-year?
HF Sinclair's refining — operating expenses increased by 1.5% year-over-year, from $461M to $468M.
What is the long-term trend for HF Sinclair's refining — operating expenses?
Over 4 years (2021 to 2025), HF Sinclair's refining — operating expenses has grown at a 15.1% compound annual growth rate (CAGR), from $1.04B to $1.83B.
What does refining — operating expenses mean?
The day-to-day costs of running refinery operations, excluding raw materials and depreciation.
How do you interpret refining — operating expenses?
Lower expenses relative to throughput indicate better operational efficiency and cost management.
How does refining — operating expenses compare across companies?
Commonly referred to as 'Refining Operating Expenses' or 'OPEX' in the energy industry.