Blue Dolphin Energy Company

AI-generated fair value estimate for this company.

Method: 10-year normalized FCF DCF: $13.0M normalized annual FCF, well below the unusually strong $32.5M H1 2026 profit, reflecting the cyclicality of independent-refiner crack spreads; 2% annual growth; 12% discount rate; 2% terminal growth; -$45.92M net debt ($0.4M cash less $46.32M total debt); 14.92M shares outstanding.

Reasoning: Blue Dolphin is a small, leveraged independent refiner whose earnings are highly sensitive to refining crack spreads; using its currently elevated H1 2026 results directly would overstate normal earning power, so the DCF uses a normalized mid-cycle FCF estimate. The higher discount rate and minimal growth reflect commodity-cycle and balance-sheet leverage risk.