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PBF Energy USD

At a glance: strengths & risks
✓Margins improving (-0%→2%)✗Revenue declining (-11%)✗Loss-making last FY✗High leverage (3.9x EBITDA)

Sector: Oil refining

Geography: United States

COMM_PBF

Price chart

61.95 USDDay -3.70%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
61.95 USD · -3.70%
Market cap
7.1 bn USD

Growth

Δ revenue y/y
11.9%
Δ EBITDA y/y
—

Multiples

P/E (LTM)
16.1x
P/B (FY)
1.3x
P/E (ann.)
9.0x
EV/EBITDA (LTM)
7.2x
EV/EBITDA (ann.)
5.5x

Cash return

Dividend yield
1.8%
FCF yield (LTM)
-4.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+139.9%
↓ details

Liquidity

Daily turnover (listing)
212.9 mln USD

Shares: yahoo_fundamentals_timeseries/PBF

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK7.9
y/y 11.9%
0.3
y/y —
0.2
y/y -6.7%
0.5
y/y —
0.2
y/y —
-0.3-0.314.7
y/y 13.0%
5.5
y/y 7.9%
14.6%3.1Link
2025-12-31Q4 2025 (3M)OK7.1
y/y -2.9%
0.1
y/y 133.4%
0.2
y/y -7.8%
0.3
y/y 230.3%
0.1
y/y 127.1%
0.4-0.313.0
y/y 2.5%
5.3
y/y -4.1%
-3.0%2.4Link
2025-09-30Q3 2025 (3M)OK7.7
y/y -8.7%
0.3
y/y —
0.2
y/y 1.1%
0.5
y/y —
0.2
y/y —
0.0-0.113.0
y/y -0.7%
5.2
y/y -11.0%
4.4%2.7Link
2025-06-30Q2 2025 (3M)OK7.5
y/y -14.4%
0.0
y/y —
0.2
y/y 2.7%
0.2
y/y 139.5%
0.0
y/y —
0.2-0.213.0
y/y -7.8%
5.1
y/y -18.8%
-0.4%2.6Link
2025-03-31Q1 2025 (3M)OK7.1
y/y -18.3%
-0.5
y/y -452.3%
0.2
y/y 18.0%
-0.3
y/y -214.4%
-0.4
y/y -476.9%
-0.7-0.113.0
y/y -5.7%
5.1
y/y -20.8%
-30.2%2.6Link
2024-12-31Q4 2024 (3M)OK7.4
y/y -19.6%
-0.4
y/y -711.9%
0.2
y/y -45.5%
-0.2
y/y -183.4%
-0.3
y/y -497.7%
-0.3-0.112.7
y/y -11.7%
5.5
y/y -14.6%
-9.3%1.8Link
2024-09-30Q3 2024 (3M)OK8.4
y/y -21.9%
-0.4
y/y -135.9%
0.2
y/y 4257.9%
-0.2
y/y -120.4%
-0.3
y/y -136.4%
-0.1-0.113.1
y/y -10.6%
5.9
y/y -12.5%
-6.3%1.1Link
2024-06-30Q2 2024 (3M)OK8.7
y/y -4.6%
-0.1
y/y -105.4%
0.2
y/y 6943.5%
0.1
y/y -93.7%
-0.1
y/y -106.4%
0.4-0.114.1
y/y 0.3%
6.3
y/y 3.6%
-4.1%0.7Link
2024-03-31Q1 2024 (3M)OK8.6
y/y -7.0%
0.1
y/y -72.7%
0.1
y/y 7715.8%
0.3
y/y -45.0%
0.1
y/y -72.1%
0.0-0.113.8
y/y 5.1%
6.5
y/y 25.7%
6.6%0.7Link
2023-12-31Q4 2023 (3M)OK9.1
y/y —
0.0
y/y —
0.3
y/y —
0.3
y/y —
0.0
y/y —
0.3-0.114.4
y/y —
6.5
y/y —
32.4%0.3Link
2023-09-30Q3 2023 (3M)OK10.7
y/y —
1.1
y/y —
0.0
y/y —
1.1
y/y —
0.8
y/y —
0.5-0.114.7
y/y —
6.7
y/y —
16.4%0.2Link
2023-06-30Q2 2023 (3M)OK9.2
y/y —
1.4
y/y —
0.0
y/y —
1.4
y/y —
1.0
y/y —
0.1-0.214.0
y/y —
6.0
y/y —
73.0%0.7Link
2023-03-31Q1 2023 (3M)OK9.3
y/y —
0.5
y/y —
0.0
y/y —
0.5
y/y —
0.4
y/y —
0.4-0.213.1
y/y —
5.1
y/y —
—0.5Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-2 00002 0004 0006 0008 00010 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-300%-200%-100%0%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-1 000-50005001 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — US Crack Spread (oil refining)

Current 66spot vs LTM +121%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +139.9% ▲ +1.5 pp 1d

Main driver: US Crack Spread (oil refining) +121% vs LTM; revenue ×2.21 vs costs ×2.12; EBITDA 1 408→2 815; at 7.6× EV/EBITDA → +140%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
US Crack Spread (oil refining) (rev)+100%66.3729.9828.53+121%-5%
US Crack Spread (oil refining) (cost)-92%66.3729.9828.53+121%-5%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue30 170
LTM EBITDA1 408
LTM cash costs (revenue − EBITDA)28 763
2 · Revenue projection
Revenue multiplier — spot×2.213 (+121%)
= Spot revenue66 781
Revenue multiplier — 3y price×0.952 (-5%)
= 3-year-price revenue28 710
3 · Costs projection
Cost multiplier — spot×2.124 (+112%)
= Spot cash costs61 087
Cost multiplier — 3y price×0.958 (-4%)
= 3-year-price cash costs27 564
4 · EBITDA projection (revenue − costs)
= Spot EBITDA8 065
= 3-year-price EBITDA1 790
Conservative EBITDA = min(spot, avg)2 815
5 · Valuation → target market cap
Target EV/EBITDA (capped at current — trough guard)7.6x
Target EV = EV/EBITDA × conservative EBITDA21 458
Net debt3 060
Target market cap = EV − net debt18 398
Current market cap7 669

Upside = target market cap ÷ current − 1 = +139.9%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q29 1589 570-4.3%1 392820+69.7%
2023 Q310 73410 611+1.2%1 0811 134-4.7%
2023 Q49 1396 543+39.7%96436-77.9%
2024 Q18 6468 383+3.1%294578-49.2%
2024 Q28 7368 455+3.3%87558-84.3%
2024 Q38 3827 666+9.3%-221183-220.7%
2024 Q47 3517 155+2.7%-56-83—
2025 Q17 0667 282-3.0%-336-69—
2025 Q27 4758 594-13.0%209-103—
2025 Q37 6518 609-11.1%453-49—
2025 Q47 1407 686-7.1%28279—
2026 Q17 9048 279-4.5%463229+102.4%

Revenue growth & acceleration

Growth steady →
Last-year revenue growth -11% vs -14% the year before — a +2.2 pp move. 3-year CAGR -14%.
revenue growth by year: 2023 -18% · 2024 -14% · 2025 -11%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 7.8x · 3-year average 19.6x

EV/EBITDA3-year 75th pct

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-140.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2026-02-250.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2025-11-140.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2025-08-140.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2025-05-150.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2025-02-270.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2024-11-130.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2024-08-150.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-05-150.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-02-280.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2023-11-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2023-08-160.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-05-160.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-02-280.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2022-11-100.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of PBF Energy — from primary filings.

PBF Energy Inc. refines petroleum into products like gasoline, diesel, jet fuel, and asphalt, and provides logistics services including rail, truck, marine terminaling, and pipeline transportation.

Frequently asked questions

What is PBF Energy's P/E ratio?
PBF Energy trades at a P/E of 16.1x (price to trailing 12-month earnings).
What is PBF Energy's EV/EBITDA?
PBF Energy trades at 7.2x EV/EBITDA.
What is PBF Energy's P/B ratio?
PBF Energy trades at a P/B of 1.3x.
What is PBF Energy's dividend yield?
PBF Energy's trailing 12-month dividend yield is 1.8%.
What is PBF Energy's return on equity (ROE)?
PBF Energy's ROE is 14.5%.
What is PBF Energy's market capitalization?
PBF Energy's market cap is 7.1 bn USD.