DINO (HF Sinclair) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

DINO HF Sinclair Corp DINO
58 GF Score
Price $115.90
GF Value $57.67
Valuation Significantly Overvalued
! 5 Warning Signs
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What is HF Sinclair Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


HF Sinclair  (NYSE:DINO) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


HF Sinclair Cyclically Adjusted PB Ratio Related Terms


HF Sinclair Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for HF Sinclair's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HF Sinclair Cyclically Adjusted PB Ratio Chart

HF Sinclair Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.85 1.23 1.25 0.76 0.95

HF Sinclair Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.86 1.09 0.96 1.27 1.39

DINO vs SUN, PBF, IEP: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas Refining & Marketing subindustry, HF Sinclair's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


HF Sinclair Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, HF Sinclair's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where HF Sinclair's Cyclically Adjusted PB Ratio falls into.


DINO
58GF Score
HF Sinclair Corp DINO
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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HF Sinclair Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

HF Sinclair's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, HF Sinclair's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=58.217/333.9520*333.9520
=58.217

Current CPI (Jun. 2026) = 333.9520.

HF Sinclair Quarterly Data

Book Value per Share CPI Adj_Book
201609 29.574 241.428 40.908
201612 29.896 241.432 41.353
201703 29.450 243.801 40.340
201706 29.570 244.955 40.313
201709 30.832 246.819 41.716
201712 33.239 246.524 45.027
201803 34.834 249.554 46.615
201806 36.318 251.989 48.131
201809 37.623 252.439 49.772
201812 37.526 251.233 49.882
201903 38.618 254.202 50.734
201906 39.367 256.143 51.326
201909 40.413 256.759 52.563
201912 40.220 256.974 52.268
202003 37.746 258.115 48.836
202006 36.532 257.797 47.324
202009 36.272 260.280 46.539
202012 35.232 260.474 45.171
202103 35.939 264.877 45.311
202106 37.174 271.696 45.692
202109 38.953 274.310 47.422
202112 38.616 278.802 46.255
202203 39.766 287.504 46.190
202206 44.782 296.311 50.471
202209 48.486 296.808 54.554
202212 50.830 296.797 57.193
202303 52.263 301.836 57.824
202306 54.550 305.109 59.707
202309 58.635 307.789 63.619
202312 51.188 306.746 55.728
202403 52.122 312.332 55.730
202406 52.182 314.175 55.467
202409 51.397 315.301 54.437
202412 49.606 315.605 52.490
202503 49.112 319.799 51.285
202506 49.968 322.561 51.733
202509 51.618 324.800 53.072
202512 50.878 324.054 52.432
202603 53.968 330.213 54.579
202606 58.217 333.952 58.217

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is HF Sinclair (DINO) Overvalued in 2026?

Based on GuruFocus' analysis, HF Sinclair stock appears to be overvalued. The current stock price of $115.90 is trading 101% above its estimated GF Value™ of $57.67. GuruFocus considers HF Sinclair to be Significantly Overvalued.

Key valuation signals for DINO:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $57.67 vs. price of $115.90 (101% above fair value)
  • GF Score™: 58/100 with 5 warning signs

No single metric tells the full story. See the DINO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


HF Sinclair Business Description

Industry EnergyOil & Gas
Other Exchanges HL80:Germany
Address 2323 Victory Avenue, Suite 1400, Dallas, TX, USA, 75219
HF Sinclair is an integrated petroleum refiner that owns and operates seven refineries serving the Rockies, midcontinent, Southwest, and Pacific Northwest, with a total crude oil throughput capacity of 678,000 barrels per day. It can produce 380 million gallons of renewable diesel annually. It operates a marketing business with over 350 distributors and 1,700 branded wholesale sites across 30 states. It also owns and operates 4,500 miles of petroleum product pipelines and terminals principally in the Southwestern United States.
58GF Score

Get the complete analysis for DINO

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$115.90
Price
$57.67
GF Value