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PBF Energy

PBF NYSE Oil & Gas Refining & Marketing Financials FY2016–FY2025

PBF Energy's revenue fell 11.4% to $29.3 billion in fiscal 2025. Its operating margin was −0.2%, up from −2.1% a year earlier. Free cash flow was −$783 million. It paid out $126 million in dividends and buybacks. The diluted share count fell 1.9%.

Last close · Oct 23, 2026

$76.17

3.9%
Value it Compare
Revenue Total sales reported in the income statement.
$29.3B
11.4% vs prior year
Operating margin Operating income as a share of revenue.
−0.2%
1.9 pts
Net income Profit after all expenses, interest and tax.
−$159M
Free cash flow Cash from operations minus capital spending.
−$783M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−0.6%
8.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$9.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
6.7x
On $11.33 EPS (TTM)

What PBF Energy does

No business description yet.

Legal name
PBF ENERGY INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001534504-26-000010
0001534504

Revenue and margins

PBF Energy had $29.3B of revenue in fiscal 2025, down 11.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$783M in fiscal 2025, −2.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

PBF Energy returned $126M to shareholders in fiscal 2025. The diluted share count fell 1.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value PBF Energy yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.7B and divides by 114.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 6.7x · peers 11.6x · sector 17.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably PBF Energy can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.3B$2.2B$1.8B$536M$528M
Debt incl. finance leases $4.3B$2.0B$1.2B$1.5B$2.2B
Net debt / EBITDA 3.6x−0.1x−0.2x—5.2x
Debt / equity 2.2x0.4x0.2x0.3x0.4x
Interest coverage 1.9x16.9x46.3x−9.7x−0.3x
Current ratio 1.4x1.3x1.6x1.3x1.2x
Quick ratio 0.7x0.7x0.8x0.5x0.5x
Total assets $11.6B$13.5B$14.4B$12.7B$13.0B
Total liabilities $9.1B$8.5B$7.8B$7.0B$7.6B
Shareholders' equity $1.9B$4.9B$6.5B$5.5B$5.3B
Net debt (− = net cash) $3.0B−$245M−$538M$968M$1.7B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$125M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Oct 8, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 170,000 $88.03 $15.0M Form 4
Oct 5, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 120,000 $84.13 $10.1M Form 4
Oct 1, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 100,000 $82.00 $8.2M Form 4
Sep 11, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 150,000 $80.60 $12.1M Form 4
Sep 10, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 315,776 $77.78 $24.6M Form 4
Sep 9, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 3,494 $77.23 $0.3M Form 4
Sep 2, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 100,000 $77.02 $7.7M Form 4
Aug 19, 2026 Thomas J. NimbleyDirector Sold 116,008 $73.73 $8.6M Form 4
Aug 18, 2026 Thomas J. NimbleyDirector Sold 125,000 $74.55 $9.3M Form 4
Aug 17, 2026 Empresarial de Capitales S.A. de C.V. Control10% owner Sold 120,000 $74.79 $9.0M Form 4
Aug 17, 2026 Thomas J. NimbleyDirector Sold 100,000 $75.05 $7.5M Form 4
Aug 14, 2026 Thomas J. NimbleyDirector Sold 169,925 $72.65 $12.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✕ ✕
Cash from operations is positive ✓ ✓ ✕
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✕ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✓
F-score 4 / 93 / 94 / 9
Accruals ratio 5.7%−4.3%−0.6%
Altman Z'' 4.291.831.91

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
PBF Energy PBF $9.2B −11.4% −0.2% −2.7% −0.6% 6.7x 4
HF Sinclair DINO $21.8B −6.0% 3.5% 3.2% 6.6% 11.6x 8 Compare →
World Kinect WKC $1.9B −12.5% −1.5% 0.6% −20.9% — 5 Compare →
Par Pacific PARR $3.8B −6.4% 7.2% 4.0% 19.3% 4.5x 6 Compare →
CVR Energy CVI $5.8B −5.9% 2.5% −0.6% 9.1% 85.5x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $15.9B $21.8B $27.2B $24.5B $15.1B $27.3B $46.8B $38.3B $33.1B $29.3B
Gross profit $683M $961M $603M $913M −$1.6B $887M $4.7B $2.4B −$372M −$571M
Operating income $500M $732M $358M $649M −$1.4B $597M $4.2B $3.0B −$699M −$54.3M
Interest expense $150M $154M $170M $160M $258M $318M $246M $63.8M $72.0M $182M
Pretax income $363M $799M $209M $480M −$1.3B $328M $3.6B $2.9B −$769M −$235M
Income tax $138M $316M $33.5M $104M $2.1M $12.1M $585M $724M −$228M −$74.1M
Net income $171M $416M $128M $319M −$1.4B $231M $2.9B $2.1B −$534M −$159M
Diluted EPS $1.74 $3.73 $1.10 $2.64 −$11.64 $1.90 $22.84 $16.52 −$4.60 −$1.39
Diluted shares 0.10B 0.11B 0.12B 0.12B 0.12B 0.12B 0.13B 0.13B 0.12B 0.11B
Cash flow
Cash from operations $652M $686M $838M $934M −$632M $477M $4.8B $1.3B $43.4M −$78.0M
Capital expenditure $299M $307M $318M $405M $196M $249M $633M $660M $391M $705M
Free cash flow $353M $379M $521M $529M −$828M $228M $4.1B $679M −$348M −$783M
Depreciation and amortization $144M $208M $208M $258M $326M $221M $262M $314M $358M $372M
Stock-based compensation $22.7M $26.8M $26.0M $37.3M $34.2M $35.6M $54.3M $51.5M $44.3M $39.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $1.2B $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.7M $1.0M $8.2M $4.9M $1.6M $0.0M $156M $533M $329M $0.0M
Dividends paid $118M $132M $139M $144M $35.9M $0.0M $24.7M $106M $119M $126M
Dividends and buybacks $118M $133M $147M $148M $37.5M $0.0M $181M $638M $448M $126M
Balance sheet
Cash and short-term investments $786M $573M $597M $815M $1.6B $1.3B $2.2B $1.8B $536M $528M
Total debt $2.2B $2.2B $1.9B $2.1B $4.7B $4.3B $2.0B $1.2B $1.5B $2.1B
Finance lease liabilities $0.0M $0.0M $0.0M $24.9M $82.7M $81.7M $69.6M $58.3M $46.6M $38.0M
Current assets $3.4B $3.8B $3.2B $3.8B $3.9B $5.2B $6.5B $6.6B $4.5B $4.5B
Current liabilities $2.1B $2.4B $2.1B $2.5B $2.5B $3.8B $5.2B $4.2B $3.6B $3.7B
Inventory $1.9B $2.2B $1.9B $2.1B $1.7B $2.5B $2.8B $3.2B $2.6B $2.6B
Property and equipment, net $3.3B $3.5B $3.8B $4.0B $4.8B $4.9B $5.4B $5.0B $5.1B $5.5B
Total assets $7.6B $8.1B $8.0B $9.1B $10.5B $11.6B $13.5B $14.4B $12.7B $13.0B
Total liabilities $5.1B $5.2B $4.8B $5.5B $8.3B $9.1B $8.5B $7.8B $7.0B $7.6B
Shareholders' equity $2.0B $2.3B $2.7B $3.0B $1.6B $1.9B $4.9B $6.5B $5.5B $5.3B
Margins
Gross margin 4.3% 4.4% 2.2% 3.7% −10.8% 3.3% 10.0% 6.3% −1.1% −2.0%
Operating margin 3.1% 3.4% 1.3% 2.7% −9.4% 2.2% 8.9% 7.7% −2.1% −0.2%
EBITDA margin 4.0% 4.3% 2.1% 3.7% −7.2% 3.0% 9.4% 8.5% −1.0% 1.1%
Net margin 1.1% 1.9% 0.5% 1.3% −9.2% 0.9% 6.1% 5.6% −1.6% −0.5%
FCF margin 2.2% 1.7% 1.9% 2.2% −5.5% 0.8% 8.8% 1.8% −1.1% −2.7%
Returns
Return on capital 8.9% 10.4% 6.6% 10.8% −22.2% 10.7% 67.4% 40.6% −8.7% −0.6%
Return on capital employed 9.8% 13.0% 6.2% 10.4% −19.3% 7.5% 51.2% 31.9% −7.3% −0.6%
Return on equity 9.3% 19.1% 5.1% 11.2% −59.5% 12.9% 83.9% 37.5% −8.9% −2.9%
Return on assets 2.5% 5.3% 1.6% 3.7% −14.2% 2.1% 22.8% 15.3% −3.9% −1.2%
Growth
Revenue growth 21.3% 36.9% 24.8% −9.9% −38.3% 80.3% 71.8% −18.2% −13.6% −11.4%
Net income growth 16.7% 143.3% −69.1% 149.0% −535.9% — 1,145.4% −25.6% −124.9% —
EPS growth 5.5% 114.4% −70.5% 140.0% −540.9% — 1,102.1% −27.7% −127.9% —
FCF growth 71.1% 7.3% 37.3% 1.6% −256.6% — 1,713.6% −83.6% −151.2% —
Share count change 10.1% 9.9% 4.3% 2.6% −1.0% 1.6% 3.4% 2.9% −10.3% −1.9%
Financial health
Net debt / EBITDA 2.2x 1.8x 2.4x 1.4x — 3.6x −0.1x −0.2x — 5.2x
Debt / equity 1.1x 1.0x 0.7x 0.7x 2.8x 2.2x 0.4x 0.2x 0.3x 0.4x
Interest coverage 3.3x 4.7x 2.1x 4.1x −5.5x 1.9x 16.9x 46.3x −9.7x −0.3x
Current ratio 1.7x 1.6x 1.5x 1.5x 1.6x 1.4x 1.3x 1.6x 1.3x 1.2x
Quick ratio 0.8x 0.7x 0.6x 0.7x 0.9x 0.7x 0.7x 0.8x 0.5x 0.5x
Capital allocation
Capex / revenue 1.9% 1.4% 1.2% 1.7% 1.3% 0.9% 1.4% 1.7% 1.2% 2.4%
Stock comp / revenue 0.1% 0.1% 0.1% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1%
Payouts / FCF 33.5% 35.0% 28.3% 28.1% — 0.0% 4.4% 94.0% — —
Quality scores
Piotroski F-score 6.0 7.0 5.0 6.0 3.0 7.0 7.0 4.0 3.0 4.0
Altman Z'' 2.1 2.4 2.0 2.2 −0.1 1.2 3.8 4.3 1.8 1.9
Accruals ratio −7.0% −3.4% −8.8% −7.2% −7.8% −2.2% −15.1% 5.7% −4.3% −0.6%

Source: SEC EDGAR XBRL filings (CIK 0001534504). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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