Par Pacific vs REX American Resources
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The short version
- Par Pacific is the larger business, with $7.5B of revenue in fiscal 2025 against $651M for REX American Resources, about 11 times as much.
- REX American Resources grew revenue faster (1.2%, against −6.4%).
- REX American Resources turned more of its sales into free cash flow (7.6% FCF margin, against 4.0%).
- Investors pay more for each dollar of REX American Resources’s earnings: a P/E of 10.9x against 4.5x for Par Pacific.
| Latest fiscal year | PARR · FY25 | REX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $1.3B |
| Revenue | $7.5B | $651M |
| Free cash flow | $296M | $49.4M |
| Net income | $369M | $95.1M |
| Growth | ||
| Revenue growth | −6.4% | 1.2% |
| 5-year growth | 19.0% | 11.8% |
| Share count change | −9.1% | −5.9% |
| Profitability | ||
| Gross margin | — | 14.4% |
| Operating margin | 7.2% | — |
| Net margin | 5.0% | 14.6% |
| FCF margin | 4.0% | 7.6% |
| Return on capital | 19.3% | — |
| Return on equity | 27.3% | 16.2% |
| Balance sheet | ||
| Net debt | $653M | — |
| Net debt / EBITDA | 1.0x | — |
| Dividends and buybacks | $125M | $33.4M |
| Valuation & quality | ||
| P/E | 4.5x | 10.9x |
| Piotroski F-score | 6 | — |
Revenue
FY16
PARR $1.9B
REX $454M
FY17
PARR $2.4B
REX $453M
FY18
PARR $3.4B
REX $487M
FY19
PARR $5.4B
REX $418M
FY20
PARR $3.1B
REX $373M
FY21
PARR $4.7B
REX $775M
FY22
PARR $7.3B
REX $855M
FY23
PARR $8.2B
REX $833M
FY24
PARR $8.0B
REX $643M
FY25
PARR $7.5B
REX $651M
PARR
REX
Operating margin
FY16
PARR −1.1%
REX —
FY17
PARR 3.9%
REX —
FY18
PARR 2.4%
REX —
FY19
PARR 2.7%
REX —
FY20
PARR −10.2%
REX —
FY21
PARR −0.2%
REX —
FY22
PARR 6.0%
REX —
FY23
PARR 8.3%
REX —
FY24
PARR 0.6%
REX —
FY25
PARR 7.2%
REX —
PARR
REX
Free cash flow
FY16
PARR −$48.2M
REX $54.9M
FY17
PARR $74.8M
REX $17.0M
FY18
PARR $42.2M
REX $37.2M
FY19
PARR $21.7M
REX $6.6M
FY20
PARR −$101M
REX −$1.8M
FY21
PARR −$57.2M
REX $86.6M
FY22
PARR $400M
REX $39.2M
FY23
PARR $497M
REX $90.3M
FY24
PARR −$51.8M
REX −$7.1M
FY25
PARR $296M
REX $49.4M
PARR
REX
Return on capital
FY16
PARR −3.0%
REX —
FY17
PARR 13.4%
REX —
FY18
PARR 10.5%
REX —
FY19
PARR 11.9%
REX —
FY20
PARR −24.7%
REX —
FY21
PARR −0.7%
REX —
FY22
PARR 62.7%
REX —
FY23
PARR 56.9%
REX —
FY24
PARR 2.0%
REX —
FY25
PARR 19.3%
REX —
PARR
REX
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.