TacticScaleWhat Par Pacific Does & How It Makes Money (PARR)
Updated October 2026 · reflects Par Pacific's latest reported financials
U.S. oil refiner with gas stations and fuel logistics networks. It makes money mainly on the margin between the cost of crude oil and the price of the refined fuels it sells.
How Par Pacific makes money
It makes money mainly on the margin between the cost of crude oil and the price of the refined fuels it sells. Its gas stations and convenience stores add fuel and merchandise sales, and its pipelines, terminals and storage add logistics income.
What Par Pacific does
Par Pacific Holdings is a Houston-based U.S. energy company that produces and sells conventional and renewable fuels. Its Refining segment runs refineries that turn crude oil into gasoline, distillate, asphalt and other products. The Retail segment runs convenience stores and fuel outlets under the Hele, 76 and nomnom brands, along with unattended cardlock stations. The Logistics segment gives the company a connected supply chain. It includes terminals, pipelines, trucking, marine vessels, storage, rail facilities and a single point mooring. The company also has an interest in a crude pipeline with access to Powder River Basin crude, and it runs dedicated jet fuel pipelines serving Ellsworth Air Force Base and Joint Base Lewis McChord. Founded in 1984 and formerly called Par Petroleum, the company took its current name in 2015.
Products & services
- Refined fuels (gasoline, distillate, asphalt)
- Renewable fuels
- Hele, 76 and nomnom convenience stores and fuel stations
- Unattended cardlock fueling stations
- Pipelines, terminals, marine and rail logistics
- Jet fuel pipelines serving Ellsworth AFB and Joint Base Lewis McChord
What is Par Pacific worth?
On an owner-earnings DCF, Par Pacific's most-likely value is about $71 versus a recent price near $82 (13% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$50) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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