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Sunoco SUN Refinery — Operating expenses, excluding non-cash compensation

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Other financials

Income statement

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Revenue$14.3B+165%
Gross profit$1.5B+157%
Operating income$583.0M+187%
Net income$283.0M+229%
EPS (diluted)$0.94+185%

Balance sheet

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Cash & equivalents$773.0M+566%
Total debt$15.4B+82.1%
Total assets$29.9B+107%

Cash flow

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Operating cash flow$1.1B+353%
CapEx$173.0M+8.1%
Free cash flow$928.0M+1,018%

Valuation

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Market cap$13.82B+91.7%
Enterprise value$28.49B+83.0%
P/E11.9×-4.6×
P/S0.4×0.0×

Profitability

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Gross margin11.9%+1.4pp
Operating margin4.8%+0.9pp
Net margin2.9%+0.9pp
FCF margin4.2%

Returns & leverage

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Current ratio1.3×-0.2×

Where this comes from

Reported directly by Sunoco in its filing.

Tagged under the XBRL concept sun:OperatingExpensesExcludingNonCashCompensation.

The source filing: Sunoco’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:26 PM EST
Fiscal year
FY2025
Accession
0001552275-26-000021

| Operating and lease expenses, excluding non-cash unit-based compensation: | | | | | Fuel Distribution | $492 | $325 | $350 | | Pipeline Systems | 196 | 136 | 2 | | Terminals | 181 | 150 | 67 | | Refinery | 5 | — | — | | Total | $874 | $611 | $419 |

Item 16. Form 10-K Summary

FAQ

What is Sunoco's refinery — operating expenses, excluding non-cash compensation?
Sunoco (SUN) reported refinery — operating expenses, excluding non-cash compensation of $1.25M in Q4 2025.
What does refinery — operating expenses, excluding non-cash compensation mean?
This metric represents the cash-based operational costs incurred to run the refinery segment, excluding stock-based compensation and other non-cash charges. It captures the core day-to-day expenses required to maintain production and distribution activities within the refinery business unit. Monitoring this helps investors understand the underlying cash efficiency of the segment's operations.

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