Western Refining was founded in 2000 and is headquartered in El Paso, US

Chief Executive Officer

Western Refining has an office in El Paso

El Paso, US (HQ)

Anson Mills Building 123 W Mills Ave

## Revenue (2016) | $7.7 b |

## Revenue growth (2015-16), % | (21%) |

## Gross profit | $1.8 b |

## Gross profit margin (2016), % | 23% |

## Net income (2016) | $187 m |

## Market capitalization (21-Mar-2017) | $3.9 b |

## Closing share price (21-Mar-2017) | $36.2 |

## Cash (31-Dec-2016) | $268.6 m |

Western Refining's current market capitalization is $3.9 b.

- Source: Company Filings

Western Refining's revenue was reported to be $7.7 b in FY, 2016 which is a **20.9% decrease** from the previous period.

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Revenue | $10.1 b | $15.2 b | $9.8 b | $7.7 b |

## Revenue growth, % | 50% | (35%) | (21%) | |

## Cost of goods sold | $8.7 b | $12.7 b | $7.5 b | $6 b |

## Gross profit | $1.4 b | $2.4 b | $2.3 b | $1.8 b |

## Gross profit Margin, % | 14% | 16% | 23% | 23% |

## Operating expense total | $9.5 b | $14.1 b | $8.9 b | $7.4 b |

## EBIT | $571.9 m | $1.1 b | $930.1 m | $343.4 m |

## EBIT margin, % | 6% | 7% | 10% | 4% |

## Interest income | $746 k | $1.2 m | $703 k | $692 k |

## Pre tax profit | $453.5 m | $1 b | $838.4 m | $241.9 m |

## Income tax expense | $153.9 m | $292.6 m | $224 m | $54.9 m |

## Net Income | $299.6 m | $710.1 m | $614.4 m | $187 m |

- Source: Company Filings

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Cash | $468.1 m | $431.2 m | $772.5 m | $268.6 m |

## Accounts Receivable | ||||

## Inventories | $557.4 m | $629.2 m | $547.5 m | $772 m |

## Current Assets | $1.8 b | $1.8 b | $1.9 b | $1.7 b |

## PP&E | $2.1 b | $2.2 b | $2.3 b | $2.4 b |

## Goodwill | $1.3 b | $1.3 b | $1.3 b | $1.3 b |

## Total Assets | $5.5 b | $5.7 b | $5.8 b | $5.6 b |

## Accounts Payable | $879 m | $681.8 m | $554 m | $753.9 m |

## Total Debt | $1.4 b | $1.5 b | $1.7 b | $1.9 b |

## Current Liabilities | $1.4 b | $1 b | $807.9 m | $984 m |

## Non-Current Liabilities | $1.5 b | $1.9 b | $2.1 b | $2.3 b |

## Total Liabilities | $2.9 b | $2.9 b | $2.9 b | $3.3 b |

## Additional Paid-in Capital | $625.8 m | $487.7 m | $492.8 m | $633.4 m |

## Retained Earnings | $624.2 m | $890.4 m | $1.2 b | $1.1 b |

## Total Equity | $2.6 b | $2.8 b | $2.9 b | $1.7 b |

## Debt to Equity Ratio | 0.5 x | 0.5 x | 0.6 x | 1.1 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x | 0.3 x |

## Financial Leverage | 2.1 x | 2 x | 2 x | 3.3 x |

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Net Income | $299.6 m | $710.1 m | $614.4 m | $187 m |

## Depreciation and Amortization | $13 m | $17.4 m | $26.9 m | $39.2 m |

## Accounts Receivable | ($129.5 m) | $132.1 m | $108.6 m | ($64.8 m) |

## Inventories | $37.8 m | ($71.8 m) | $81.7 m | ($91 m) |

## Accounts Payable | ||||

## Cash From Operating Activities | $441.2 m | $737.6 m | $843.1 m | $383.7 m |

## Capital Expenditures | ($205.7 m) | ($223.3 m) | ($290.9 m) | ($301 m) |

## Cash From Investing Activities | ($895.9 m) | ($380.9 m) | ($191.8 m) | ($226.3 m) |

## Long-term Borrowings | ($325.4 m) | ($6.1 m) | ($7.4 m) | ($135.4 m) |

## Dividends Paid | ($52.5 m) | ($293.7 m) | ($129.2 m) | ($153.7 m) |

## Interest Paid | $1.8 m | |||

## Income Taxes Paid | $1 k | |||

## Free Cash Flow | $646.8 m | $960.9 m | $1.1 b | $684.7 m |