PBF Energy vs Phillips 66
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The short version
- Phillips 66 is the larger business, with $132.4B of revenue in fiscal 2025 against $29.3B for PBF Energy, about 4.5 times as much.
- Phillips 66 grew revenue faster (β7.5%, against β11.4%).
- Phillips 66 earned a higher return on the capital invested in it (11.2%, against β0.6%).
- Investors pay more for each dollar of Phillips 66βs earnings: a P/E of 16.2x against 6.7x for PBF Energy.
| Latest fiscal year | PBF Β· FY25 | PSX Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.2B | $114.0B |
| Revenue | $29.3B | $132.4B |
| Free cash flow | β$783M | β |
| Net income | β$159M | $4.4B |
| Growth | ||
| Revenue growth | β11.4% | β7.5% |
| 5-year growth | 14.2% | 15.6% |
| Share count change | β1.9% | β3.3% |
| Profitability | ||
| Gross margin | β2.0% | 12.3% |
| Operating margin | β0.2% | β |
| Net margin | β0.5% | 3.3% |
| FCF margin | β2.7% | β |
| Return on capital | β0.6% | 11.2% |
| Return on equity | β2.9% | 15.6% |
| Balance sheet | ||
| Net debt | $1.7B | $18.6B |
| Net debt / EBITDA | 5.2x | 1.9x |
| Dividends and buybacks | $126M | $3.1B |
| Valuation & quality | ||
| P/E | 6.7x | 16.2x |
| Piotroski F-score | 4 | 8 |
Revenue
FY16
PBF $15.9B
PSX $84.3B
FY17
PBF $21.8B
PSX $102.4B
FY18
PBF $27.2B
PSX $111.5B
FY19
PBF $24.5B
PSX $107.3B
FY20
PBF $15.1B
PSX $64.1B
FY21
PBF $27.3B
PSX $111.5B
FY22
PBF $46.8B
PSX $170.0B
FY23
PBF $38.3B
PSX $147.4B
FY24
PBF $33.1B
PSX $143.2B
FY25
PBF $29.3B
PSX $132.4B
PBF
PSX
Operating margin
FY16
PBF 3.1%
PSX β
FY17
PBF 3.4%
PSX β
FY18
PBF 1.3%
PSX β
FY19
PBF 2.7%
PSX β
FY20
PBF β9.4%
PSX β
FY21
PBF 2.2%
PSX β
FY22
PBF 8.9%
PSX β
FY23
PBF 7.7%
PSX β
FY24
PBF β2.1%
PSX β
FY25
PBF β0.2%
PSX β
PBF
PSX
Free cash flow
FY16
PBF $353M
PSX β
FY17
PBF $379M
PSX β
FY18
PBF $521M
PSX β
FY19
PBF $529M
PSX β
FY20
PBF β$828M
PSX β
FY21
PBF $228M
PSX β
FY22
PBF $4.1B
PSX β
FY23
PBF $679M
PSX β
FY24
PBF β$348M
PSX β
FY25
PBF β$783M
PSX β
PBF
PSX
Return on capital
FY16
PBF 8.9%
PSX 6.2%
FY17
PBF 10.4%
PSX 12.2%
FY18
PBF 6.6%
PSX 18.0%
FY19
PBF 10.8%
PSX 10.4%
FY20
PBF β22.2%
PSX β9.7%
FY21
PBF 10.7%
PSX 6.2%
FY22
PBF 67.4%
PSX 30.4%
FY23
PBF 40.6%
PSX 17.0%
FY24
PBF β8.7%
PSX 6.2%
FY25
PBF β0.6%
PSX 11.2%
PBF
PSX
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.