Par Pacific Holdings Inc (PARR)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	3,863,950	3,888,750	3,609,970	3,327,430	3,280,650	3,107,100	3,245,340	2,920,440	2,570,250	2,521,000	2,524,380	2,502,470	2,133,860	2,272,410	2,224,800	2,140,920	2,700,560	2,652,880	2,672,410	2,648,100
Total stockholders’ equity	US$ in thousands	1,335,420	1,071,260	919,311	887,993	644,537	546,892	278,729	125,917	265,700	253,502	169,692	276,067	246,274	379,940	392,476	430,388	648,242	579,510	659,563	611,202
Financial leverage ratio		2.89	3.63	3.93	3.75	5.09	5.68	11.64	23.19	9.67	9.94	14.88	9.06	8.66	5.98	5.67	4.97	4.17	4.58	4.05	4.33

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,863,950K ÷ $1,335,420K
= 2.89

The financial leverage ratio for Par Pacific Holdings Inc has been fluctuating over the past eight quarters. The trend indicates a significant decrease from Q1 2022 to Q2 2022, followed by a more stable but relatively high level from Q3 2022 to Q4 2023. A financial leverage ratio above 1 suggests that the company relies more on debt to finance its operations and investments. The ratio exceeding 5 in Q2 2022, Q3 2022, Q4 2022, and Q1 2023 is notably high and might raise concerns about the company's ability to meet its debt obligations. It is crucial for stakeholders to closely monitor how Par Pacific Holdings manages its debt levels to ensure sustainable financial health.