HF SINCLAIR CORPORATION vs PLAINS GP HOLDINGS LP, two Pipelines stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Plains GP Holdings is the general-partner vehicle that owns the Plains crude network in corporation form, while HF Sinclair refines and markets petroleum, a processor rather than a pipeline sitting in this midstream bucket. Free-cash yields run close, Plains GP at 13.44% against HF Sinclair's 11.31%, both generous. Their reported margins tell different stories, HF Sinclair keeping 4.46% of revenue against the holding entity's razor-thin 0.43%, a figure shaped by partnership accounting. HF Sinclair earns 12.65% on equity, trades at 10.26 times earnings and 1.27 times book, pays a 2.93% dividend, and carries 0.28 turns of debt. The refiner is the operating business; Plains GP is a claim on a pipeline network's cash.
Comparison updated 2026-07-11.
| Metric | DINO | PAGP |
|---|---|---|
| Price | $78.06 | $24.75 |
| Market cap | $14.1B | $16.1B |
| Sector | Pipelines | Pipelines |
| Stage | Mature | Mature |
| Implied growth (priced in) | +16.8% | — |
| P/E | 11.7 | — |
| P/B | 1.45 | — |
| P/S | 0.51 | 0.36 |
| EV/EBITDA | 6.0 | 7.1 |
| Revenue growth | -19.6% | -6.8% |
| Operating margin | 11.9% | 3.2% |
| Net margin | 4.5% | 0.4% |
| Return on equity | 12.7% | — |
| Return on assets | 6.8% | 0.6% |
| Return on invested capital | 10.5% | 94.9% |
| FCF yield | 9.9% | 12.9% |
| Dividend yield | 2.6% | — |
| Debt / equity | 0.28 | — |
| Current ratio | 1.79 | 0.94 |
| Altman Z (solvency) | 3.32 | 7.41 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.