Start with its own history
At 10.76×, HEP is 35.7% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · HEPOil & Gas MidstreamUpdated Nov 4, 2026
Holly Energy Partners, L.P. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
10.76×
35.7% belowthe 10-year annual average
Share price20.45
÷Earnings per share1.9
Price and EPS in quote currency. Calculation details
Investors are paying 10.76 for every 1 of reported earnings per share.
P/E over time
2013 – 2022
Annual P/ESelected-period average 16.73×
3-year average8.58×3 positive annual observations
5-year average10.59×5 positive annual observations
10-year average16.73×10 positive annual observations
Peer median · TTM17.70×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 19 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2022 | 8.80× | +8.3% |
| Dec 31, 2021 | 8.12× | -7.9% |
| Dec 31, 2020 | 8.82× | -15.2% |
| Dec 31, 2019 | 10.40× | -38.1% |
| Dec 31, 2018 | 16.80× | +17.9% |
| Dec 31, 2017 | 14.25× | -24.9% |
| Dec 31, 2016 | 18.97× | -2.5% |
| Dec 31, 2015 | 19.46× | -21.9% |
View all 19 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2014 | 24.93× | -32.2% |
| Dec 31, 2013 | 36.74× | +44.1% |
| Dec 31, 2012 | 25.50× | +30.8% |
| Dec 31, 2011 | 19.49× | +1.8% |
| Dec 31, 2010 | 19.14× | +52.8% |
| Dec 31, 2009 | 12.53× | -22.6% |
| Dec 31, 2008 | 16.18× | -16.4% |
| Dec 31, 2007 | 19.36× | -23.0% |
| Dec 31, 2006 | 25.16× | +15.9% |
| Dec 31, 2005 | 21.71× | -49.6% |
| Dec 31, 2004 | 43.07× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How HEP compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 HEP This stockHolly Energy Partners, L.P. | 10.76× |
 NSNuStar Energy L.P. | 30.50× |
 RTLRRattler Midstream LP | 17.70× |
 CEQPCrestwood Equity Partners LP | 38.71× |
 NEXNexTier Oilfield Solutions Inc. | 8.22× |
 CPECallon Petroleum Company | 5.77× |
 CEIXCONSOL Energy Inc. | 24.97× |
 EURNEuronav N.V. | 5.92× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does HEP’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 17.70×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take HEP into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("HEP", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 20.45 ÷ EPS 1.9 = 10.76×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 4, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
HEP P/E ratio: common questions
The essentials behind the numbers.
Holly Energy Partners, L.P.'s current P/E is 10.76× based on the quote data last updated Nov 4, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.