Refining was HF Sinclair’s largest segment in fiscal 2025, bringing in $23.82B of $26.87B (89%).
| Segment | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Refining | $34.41B | $28.67B | $25.34B | $23.82B | ||
| Marketing | $3.91B | $4.15B | $3.43B | $3.14B | ||
| Lubricants & Specialties | $3.16B | $2.78B | $2.71B | $2.53B | ||
| Lubricants & Specialty Products | — | — | — | — | ||
| Renewables | $1.02B | $1.19B | $991.00M | $991.00M | ||
| Midstream | $540.00M | $584.00M | $644.00M | $643.00M | ||
| Hep | — | — | — | — | ||
| Corporate, Non-Segment | — | — | — | — | ||
| Intersegment Eliminations | — | — | — | — | ||
| Corporate, Other & Eliminations | -$4.83B | -$5.40B | -$4.54B | -$4.26B | ||
| Total | $38.21B | $31.96B | $28.58B | $26.87B |
HF Sinclair brought in $26.87B from its six segments in fiscal 2025, the year ended December 31, 2025. That was down 6.0% from $28.58B in fiscal 2024. Refining was the largest at $23.82B (88.7%), ahead of Marketing at $3.14B (11.7%) and Lubricants & Specialties at $2.53B (9.4%). The other two segments brought in $1.63B combined.
Compared with fiscal 2024, Renewables grew fastest, up 0.0% to $991.00M, while Marketing fell the most, down 8.3% to $3.14B. From fiscal 2022 to 2025, combined revenue from these segments fell from $38.21B to $26.87B, a compound annual decline of 11.1%. Refining's share of the total fell from 90.1% to 88.7%.
The total is net of Corporate, Other & Eliminations, which took $4.26B off revenue in fiscal 2025.
Transportation Fuels was HF Sinclair’s largest product and service line in fiscal 2025, bringing in $20.93B of $26.87B (78%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|
| Transportation Fuels | $30.25B | $24.58B | $20.93B | ||
| Lubricants & Specialty Products | $2.83B | $2.52B | $2.31B | ||
| Specialty Lubricant Products | — | — | — | ||
| Excess Crude Oil Revenues | $2.34B | $2.15B | $1.34B | ||
| Asphalt, Fuel Oil & Other Products | $2.15B | $2.17B | $1.43B | ||
| Other Revenues | $529.00M | $429.00M | $746.00M | ||
| Transportation & Logistic Services | $109.00M | $118.00M | $121.00M | ||
| Total | $38.21B | $31.96B | $26.87B |
HF Sinclair brought in $26.87B from its six product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 15.9% from $31.96B in fiscal 2023, the previous year with figures. Transportation Fuels was the largest at $20.93B (77.9%), ahead of Lubricants & Specialty Products at $2.31B (8.6%) and Asphalt, Fuel Oil & Other Products at $1.43B (5.3%). The other three lines brought in $2.20B combined.
Compared with fiscal 2023, the previous year with figures, Other Revenues grew fastest, up 73.9% to $746.00M, while Excess Crude Oil Revenues fell the most, down 37.8% to $1.34B. From fiscal 2022 to 2025, combined revenue from these lines fell from $38.21B to $26.87B, a compound annual decline of 11.1%. Transportation Fuels' share of the total fell from 79.2% to 77.9%.
HF Sinclair (DINO) reports its revenue by segment and by product and service. In fiscal 2025, Refining was its largest segment, bringing in $23.82B (88.7% of the total), followed by Marketing at $3.14B (11.7%).
Refining was HF Sinclair's largest segment in fiscal 2025, bringing in $23.82B, or 88.7% of the $26.87B total across its six segments.
Transportation Fuels was HF Sinclair's largest product and service line in fiscal 2025, bringing in $20.93B, or 77.9% of the $26.87B total across its six product and service lines.
Every figure comes from HF Sinclair's annual financial filings, as reported. Each line keeps the name HF Sinclair gives it, and years follow its fiscal calendar.
HF Sinclair's revenue by segment goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.