HF Sinclair (HAM:HL80) Cyclically Adjusted PB Ratio: (As of Sep. 09, 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.

HAM:HL80 HF Sinclair Corp HAM:HL80
49 GF Score
Price €89.24
GF Value €47.03
Valuation Significantly Overvalued
! 5 Warning Signs
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What is HF Sinclair Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


HF Sinclair  (HAM:HL80) 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 0.94 1.37 1.38 0.82 1.03

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 0.93 1.18 1.03 1.36 1.48

HAM:HL80 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.


HAM:HL80
49GF Score
HF Sinclair Corp HAM:HL80
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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)
=50.532/333.9520*333.9520
=50.532

Current CPI (Jun. 2026) = 333.9520.

HF Sinclair Quarterly Data

Book Value per Share CPI Adj_Book
201609 23.533 241.428 32.552
201612 25.024 241.432 34.614
201703 24.216 243.801 33.170
201706 23.163 244.955 31.579
201709 22.948 246.819 31.049
201712 25.581 246.524 34.653
201803 25.606 249.554 34.266
201806 28.354 251.989 37.577
201809 29.535 252.439 39.072
201812 30.225 251.233 40.177
201903 31.427 254.202 41.286
201906 32.078 256.143 41.822
201909 33.771 256.759 43.924
201912 33.244 256.974 43.202
202003 31.274 258.115 40.463
202006 29.523 257.797 38.244
202009 27.963 260.280 35.878
202012 26.158 260.474 33.537
202103 27.195 264.877 34.287
202106 27.806 271.696 34.177
202109 29.957 274.310 36.470
202112 30.882 278.802 36.991
202203 33.013 287.504 38.346
202206 39.081 296.311 44.046
202209 45.149 296.808 50.799
202212 44.277 296.797 49.820
202303 45.026 301.836 49.817
202306 46.598 305.109 51.003
202309 50.849 307.789 55.171
202312 46.626 306.746 50.761
202403 47.636 312.332 50.933
202406 48.150 314.175 51.181
202409 45.989 315.301 48.709
202412 47.029 315.605 49.763
202503 45.104 319.799 47.100
202506 43.016 322.561 44.535
202509 43.678 324.800 44.909
202512 43.144 324.054 44.462
202603 46.682 330.213 47.211
202606 50.532 333.952 50.532

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 (HAM:HL80) Overvalued in 2026?

Based on GuruFocus' analysis, HF Sinclair stock appears to be overvalued. The current stock price of €89.24 is trading 89.8% above its estimated GF Value™ of €47.03. GuruFocus considers HF Sinclair to be Significantly Overvalued.

Key valuation signals for HAM:HL80:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €47.03 vs. price of €89.24 (89.8% above fair value)
  • GF Score™: 49/100 with 5 warning signs

No single metric tells the full story. See the HAM:HL80 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


HF Sinclair Business Description

Industry EnergyOil & Gas
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.
49GF Score

Get the complete analysis for HAM:HL80

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

€89.24
Price
€47.03
GF Value