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Par Pacific Holdings Inc (PARR) Fair Value & Analysis

Energy · US · Market cap $3.3B · ISIN US69888T2078

What is Par Pacific Holdings Inc really worth?

PP Par Pacific Holdings Inc logo Par Pacific Holdings Inc PARR · US
Price$81.98
Fair Value$103.13
Upside+25.8%
Quality63/100

A solid business, trading 21% below our fair value of $103.13.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +19.0 %/yr)
!Thin margins · 6.0% net margin
!Mixed vs. peers (8/14)
!Moderate moat 54/100
!The models disagree: range $73.31 to $308.42
!Weak on future: 23 out of 100
!Weak on dividend: 9 out of 100
Evidence: High Range $73.31 – $308.42

Fair value as of: Sep 2, 2026

From 24 valuation models · updated 2 days ago

Share price −1.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide ($73.31 to $308.42). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

$86.03 $11.82 Fair Value $103.13 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.

How to read this chart

60‑month range $11.82 – $86.03 · fair‑value band $73.31 – $308.42 · the $81.98 price screens below the $103.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 2, 2026.

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Analysis

Par Pacific Holdings Inc (PARR) currently trades at $81.98, while our model-based Fair Value estimate is $103.13, implying the stock looks roughly 20.5% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of $302.18 per share, and 19 of the 24 models we run sit above the $81.98 price. Bear case: the Asset-Based group reads lowest at $20.20, and 5 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Par Pacific Holdings Inc generated revenue of $7.5B at a net margin of 6.0%. Revenue grew 4.5% year over year. It earns a return on equity of 33.3%. Net debt stands at $1.2B. Fundamentals as of Sep 2, 2026

Our scenario range runs from $73.31 (bear case) to $308.42 (bull case); at $81.98, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 290% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −59% fair-value upside, at 26%, PARR screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $5.98 per share, which is 5.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV best evidence $64.95 $77.20 $87.77 74
FCF DCF $81.40 $132.14 $290.36 72
Growth DCF $75.67 $155.45 $283.98 72
All 24 models by family
DCF Models
FCF DCF $81.40 $132.14 $290.36 72
Owner Earnings $95.40 $226.79 $492.49 68
5Y Revenue Exit $91.59 $175.37 $351.35 66
5Y EBITDA Exit $59.50 $110.51 $210.36 69
5Y P/E Exit $71.35 $170.79 $305.58 65
10Y Revenue Exit $85.83 $220.18 $310.87 63
10Y EBITDA Exit $67.19 $152.67 $297.77 62
10Y P/E Exit $75.64 $177.60 $343.45 58
Earnings-Based
Graham-Dodd $50.09 $349.34 $490.24 61
Lynch FV $180.48 $257.83 $335.18 59
PEG = 1.0 $180.48 $257.83 $335.18 55
EPV best evidence $64.95 $77.20 $87.77 74
Multiples
P/E Multiple $77.35 $103.13 $128.91 63
P/S Multiple $93.92 $125.23 $156.54 58
P/B Multiple $40.69 $54.26 $67.82 55
EV/EBIT $67.94 $94.80 $121.66 66
EV/EBITDA $48.66 $69.09 $89.53 67
EV/Revenue $85.13 $127.03 $168.94 53
Asset-Based
NCAV (Graham) $15.07 $20.20 $30.14 54
Growth DCF
Growth DCF $75.67 $155.45 $283.98 72
Rev-Margin DCF $102.90 $202.27 $409.56 66
Economic Profit
Residual Income $48.26 $65.10 $355.01 61
ROIC Compounder $92.37 $150.35 $185.74 69
Growth Earnings
Growth-Adj P/E $211.52 $302.18 $392.83 65

Widest divergence: Growth Earnings ($302.18) versus Asset-Based ($20.20). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 9.3
P/S ratio 0.46 P/E × margin
EPS (TTM) $8.83 price ÷ EPS = P/E 9.3
Dividend yield 0.5% payout 4.4%
Net margin 4.9% FY2025
Return on equity 33.3% TTM
More key figures
Profitability
Return on assets (EBIT) 9.0% avg 5y
Operating margin 3.3% TTM
Growth
Revenue (TTM) $7.5B TTM
Revenue growth (YoY) +4.5% 3y avg +0.6%
EPS growth (YoY) +38.7%
Balance sheet & cash flow
Free cash flow $296M FY2025
Net debt $1.2B FY2025 · ≈ 4.1 yrs of FCF

Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 82

Profitability 67
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Par Pacific Holdings, Inc., an energy company, provides renewable and conventional fuels in the United States. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates refineries that convert crude oil into gasoline, distillate, asphalt, and other products.

Full company description

Par Pacific Holdings, Inc., an energy company, provides renewable and conventional fuels in the United States. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates refineries that convert crude oil into gasoline, distillate, asphalt, and other products. The Retail segment operates convenience stores and fuel retail outlets that sell gasoline, diesel, and retail merchandise, such as soft drinks, prepared food, and other sundries under the Hele, 76, and nomnom brands, as well as unattended cardlock stations. The Logistics segment owns and operates terminals, pipelines, trucking operations, marine vessels, storage facilities, loading and truck racks, and rail facilities for the movement of ethanol, petroleum, and refined products; and a jet fuel storage facility and pipeline that serves Ellsworth Air Force Base in South Dakota. The company also holds interest in crude storage tanks and a crude oil pipeline that provides access to crude oil from power river basin; and refined products pipeline. In addition, it owns and operates a single point mooring, a marine terminal, a unit train-capable rail loading terminal, manifest rail siding, a truck rack, and a proprietary jet fuel pipeline that serves Joint Base Lewis McChord. The company was formerly known as Par Petroleum Corporation and changed its name to Par Pacific Holdings, Inc. in October 2015. Par Pacific Holdings, Inc. was incorporated in 1984 and is headquartered in Houston, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Par Pacific Holdings Inc reported revenue of $7.5B in FY2025 versus $4.7B in FY2021, a compound +12.2%/yr. Reported net income was $369M in FY2025.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$7.5B
Latest YoY
−6.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.0%
Avg. revenue growth/yr (33Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+58.6% (58.1 + 0.5)
Revenue +12.2%/yr
FY21 $4.7B
FY22 $7.3B
FY23 $8.2B
FY24 $8.0B
FY25 $7.5B
Net income
FY21 −$81.3M
FY22 $364M
FY23 $729M
FY24 −$33.3M
FY25 $369M

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Cite: Fair Value Calculator (2026). "Par Pacific Holdings Inc Fair Value". https://www.fairvalue-calculator.com/stock/PARR

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Oil & Gas Refining & Marketing · 109 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 63 · Top 25%
Fair Value upside +26% · Above median
Return on equity (TTM) 33% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 3% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.53× · Higher than median

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 2.18× · Pricier than median
P/S (TTM) 0.44× · Pricier than median
P/FCF 11.1× · Pricier than 75% of peers
EV/EBITDA 5.3× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE68 · sector 13
FUTURE23 · sector 15
PAST100 · sector 33
HEALTH74 · sector 83
DIVIDEND9 · sector 55

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,314 ₹835.66 −36%
Valero Energy Corporation VLO $352.36 $127.32 −64%
Marathon Petroleum Corporation MPC $368.83 $133.18 −64%
Phillips 66 PSX $246.58 $99.41 −60%
Neste Oyj NESTE €31.28 €3.83 −88%
Formosa Petrochemical Corporation 6505 75.80 TWD 15.32 TWD −80%
HF Sinclair Corporation DINO $87.93 $44.96 −49%
Bharat Petroleum Corporation BPCL ₹318.00 ₹846.81 +166%
SK Innovation Co 096770 131,500 KRW 53,541 KRW −59%
Sunoco LP, SUN $75.55 $53.36 −29%

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Frequently asked questions

Is Par Pacific Holdings Inc (PARR) overvalued or undervalued?
As of Sep 2, 2026, our model estimates a fair value of $103.13 versus a price of $81.98, about +26% upside (undervalued).
What is the fair value of PARR?
Our model-based fair value for Par Pacific Holdings Inc is $103.13 (as of Sep 2, 2026), built from audited fundamentals. The current price: $81.98.
What is the quality score of PARR?
Par Pacific Holdings Inc has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Par Pacific Holdings Inc (PARR)?
Par Pacific Holdings Inc reported trailing-twelve-month revenue of about $7.5B (latest available figure, as of Sep 2, 2026).
What is the net profit margin of PARR?
The net profit margin of Par Pacific Holdings Inc is about 6.0%, meaning it keeps roughly 6.0% of revenue as net income. Based on the latest reported figures.
Does Par Pacific Holdings Inc pay a dividend?
Par Pacific Holdings Inc currently shows a dividend yield of about 0.47% relative to its recent price (as of Sep 2, 2026).
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