CVR Energy vs PBF Energy
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The short version
- PBF Energy is the larger business, with $29.3B of revenue in fiscal 2025 against $7.2B for CVR Energy, about 4.1 times as much.
- CVR Energy grew revenue faster (−5.9%, against −11.4%).
- CVR Energy kept more of each dollar of sales as operating profit (2.5% operating margin, against −0.2%).
- CVR Energy turned more of its sales into free cash flow (−0.6% FCF margin, against −2.7%).
- CVR Energy earned a higher return on the capital invested in it (9.1%, against −0.6%).
- Investors pay more for each dollar of CVR Energy’s earnings: a P/E of 85.5x against 6.7x for PBF Energy.
| Latest fiscal year | CVI · FY25 | PBF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.8B | $9.2B |
| Revenue | $7.2B | $29.3B |
| Free cash flow | −$41.0M | −$783M |
| Net income | $27.0M | −$159M |
| Growth | ||
| Revenue growth | −5.9% | −11.4% |
| 5-year growth | 12.8% | 14.2% |
| Share count change | 0.0% | −1.9% |
| Profitability | ||
| Gross margin | 4.8% | −2.0% |
| Operating margin | 2.5% | −0.2% |
| Net margin | 0.4% | −0.5% |
| FCF margin | −0.6% | −2.7% |
| Return on capital | 9.1% | −0.6% |
| Return on equity | 3.8% | −2.9% |
| Balance sheet | ||
| Net debt | $1.3B | $1.7B |
| Net debt / EBITDA | 2.2x | 5.2x |
| Dividends and buybacks | $0.0M | $126M |
| Valuation & quality | ||
| P/E | 85.5x | 6.7x |
| Piotroski F-score | 8 | 4 |
FY16
CVI $4.8B
PBF $15.9B
FY17
CVI $6.0B
PBF $21.8B
FY18
CVI $7.1B
PBF $27.2B
FY19
CVI $6.4B
PBF $24.5B
FY20
CVI $3.9B
PBF $15.1B
FY21
CVI $7.2B
PBF $27.3B
FY22
CVI $10.9B
PBF $46.8B
FY23
CVI $9.2B
PBF $38.3B
FY24
CVI $7.6B
PBF $33.1B
FY25
CVI $7.2B
PBF $29.3B
CVI
PBF
FY16
CVI 1.5%
PBF 3.1%
FY17
CVI 2.4%
PBF 3.4%
FY18
CVI 7.5%
PBF 1.3%
FY19
CVI 9.1%
PBF 2.7%
FY20
CVI −8.5%
PBF −9.4%
FY21
CVI 1.2%
PBF 2.2%
FY22
CVI 8.8%
PBF 8.9%
FY23
CVI 12.1%
PBF 7.7%
FY24
CVI 0.8%
PBF −2.1%
FY25
CVI 2.5%
PBF −0.2%
CVI
PBF
FY16
CVI $134M
PBF $353M
FY17
CVI $128M
PBF $379M
FY18
CVI $526M
PBF $521M
FY19
CVI $626M
PBF $529M
FY20
CVI −$34.0M
PBF −$828M
FY21
CVI $172M
PBF $228M
FY22
CVI $776M
PBF $4.1B
FY23
CVI $743M
PBF $679M
FY24
CVI $225M
PBF −$348M
FY25
CVI −$41.0M
PBF −$783M
CVI
PBF
FY16
CVI 3.0%
PBF 8.9%
FY17
CVI 6.1%
PBF 10.4%
FY18
CVI 17.6%
PBF 6.6%
FY19
CVI 18.4%
PBF 10.8%
FY20
CVI −11.8%
PBF −22.2%
FY21
CVI 4.2%
PBF 10.7%
FY22
CVI 41.3%
PBF 67.4%
FY23
CVI 41.0%
PBF 40.6%
FY24
CVI 2.6%
PBF −8.7%
FY25
CVI 9.1%
PBF −0.6%
CVI
PBF
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.