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PBF Energy Inc.

PBF Energy Oil & Gas Refining & Marketing

PBF Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $29.3 billion, down 11.4% from fiscal 2024.

Revenue
+58.6%
EPS
+773.9%
Free cash flow
+4,076.3%
Total debt
−11.8%

Quarter to September 2026, against a year earlier

75.32 2.68 −3.44%
Market cap
$9.3B
P/E
3.3×
Fwd P/E
2.7×
Dividend yield
1.46%
F-score
4/9
Altman Z
2.90
Beneish M
−2.64
Dividend safety
14/100
Overview Business Profile
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Insider Decisions last twelve months

Sold, $m 1,011.53
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 4 8 18 2 1 4 7 17 3 3 —
Insider Ownership 14.66%

Capital & Financial Ratios $m

Size
Market Cap 9,250.00
Revenue ttm 38,854.90
Net income ttm 2,737.60
Free cash flow ttm 2,624.90
Net debt Q (409.80)
Valuation
P/E 3.29
Forward P/E 2.70
Price / sales 0.23
Forward P/S Powerpack
Price / FCF 3.45
Price / book 1.12
Financial health
Current ratio Q 1.59 (at or above 1.5: strong)
Debt / equity Q 0.26 (at or below 0.5: strong)
Interest coverage Q 77.24
Growth
Revenue growth Q +58.58% (above 0%: growing)
Operating income growth Q +634.84% (above 0%: growing)
EPS, this year +698.12% (at or above 15%: strong)
EPS, next year A −20.02% (below 0%: weak)
Revenue, next year A +44.07% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A 0.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.2×, against a ten-year median of 0.2×; over the ten years it ranged from 0.1× in 2022 to 0.3× in 2021.
P/E against its own 10 years 27.71%
10-year low 10-year high
P/S against its own 10 years 96.11%
10-year low 10-year high
P/B against its own 10 years 74.49%
10-year low 10-year high
EV/Sales against its own 10 years 58.88%
10-year low 10-year high
EV/FCF against its own 10 years 14.84%
10-year low 10-year high

Dividends raised 4 years running

Yield
1.46%
Annual rate
1.10
Payout ratio
4.91%
Growth, 2016–25
−0.96%/yr
  1. 1.20 ’16
  2. 1.20 ’17 +0%
  3. 1.20 ’18 +0%
  4. 1.20 ’19 +0%
  5. 0.30 ’20 −75%
  6. 0.50 ’22 +67%
  7. 0.85 ’23 +70%
  8. 1.03 ’24 +21%
  9. 1.10 ’25 +7%
  10. 1.16 ’26e +6%
paid forecast Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,784 536 528 2,544
Receivables 1,363 1,165 1,167 2,071
Inventory 3,183 2,595 2,563 3,215
Other — — — —
6,597 4,544 4,452 8,031
2023 2024 2025 Q'26
Payables 959 736 801 777
ST’ Debt — — — 21
Other — — — —
4,217 3,626 3,669 5,041

Compound Annual Growth %

10y 5y 3y
Sales 8.37% 14.18% (14.44%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 10.03% 19.87% 2.53%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 11.34 Actual 12.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.15 0.49 Beat by 0.64
Q1 FY26 −0.79 −0.88 Miss by 0.09
Q2 FY26 4.05 6.22 Beat by 2.17
Q3 FY26 11.34 12.78 Beat by 1.44
Q4 FY26 7.49 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.65 7.54 12.57 — —
’25 (3.53) (0.05) 1.45 0.66 (1.39)
’24 0.86 (0.56) (2.49) (2.52) (4.60)
’23 2.86 7.88 6.11 (0.40) 16.52
’22 (0.18) 9.65 8.40 4.86 22.84
’21 (0.34) 0.39 0.49 1.36 1.90
’20 (8.93) 3.23 (3.49) (2.47) (11.64)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 7,904 11,678 12,133 — —
’25 7,066 7,475 7,651 7,140 29,332
’24 8,646 8,736 8,382 7,351 33,115
’23 9,295 9,158 10,734 9,139 38,325
’22 9,142 14,078 12,765 10,846 46,830
’21 4,925 6,898 7,187 8,244 27,253
’20 5,278 2,516 3,668 3,655 15,116
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (324) 1,589 1,878 — —
’25 (661) 191 26 367 (78)
’24 16 425 (68) (330) 43
’23 438 68 527 306 1,339
’22 312 1,957 1,380 1,123 4,772
’21 (14) 78 261 152 477
’20 (236) (393) (164) 161 (632)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (673) 1,462 1,759 — —
’25 (772) 35 48 77 (613)
’24 (124) 372 (170) (426) (347)
’23 202 (139) 396 224 683
’22 194 1,849 1,215 881 4,139
’21 (51) 31 204 52 235
’20 (301) 81 (201) 137 (285)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 15,920 21,787 27,186 24,508 15,116 27,253 46,830 38,325 33,115 29,332 38,855 +7.0% 42,259 38,192 36,062 +7.1%
Gross margin, % 13.23 12.14 8.55 11.00 1.91 10.91 15.54 13.29 6.75 7.07 15.91 (6.2) pt
EBT 363 799 209 480 (1,331) 328 3,558 2,886 (769) (235) 3,623 n/m
EBT margin, % 2.28 3.67 0.77 1.96 (8.81) 1.20 7.60 7.53 (2.32) (0.80) 9.32 (3.1) pt
Net income 226 483 175 375 (1,333) 316 2,973 2,162 (540) (160) 2,738 n/m
Per share, $
Per share, $ Revenue 161.90 198.46 236.01 204.43 126.37 226.66 381.98 306.71 284.87 257.18 323.44 +5.3%
Earnings 1.74 3.79 1.11 2.66 (11.64) 1.92 23.47 17.13 (4.59) (1.39) 22.87 n/m
Cash flow 6.63 6.25 7.27 7.79 (5.28) 3.97 38.92 10.71 0.37 (0.68) 29.21 n/m
Capex (2.79) (2.79) (2.34) (3.07) 2.90 (2.01) (5.17) (5.24) (3.36) (4.69) (7.36) +6.0%
Free cash flow 3.84 3.45 4.94 4.71 (2.38) 1.96 33.76 5.47 (2.99) (5.37) 21.85 n/m
Book value 26.14 26.44 28.20 29.91 18.41 21.06 41.24 53.07 48.85 47.78 67.46 +6.9%
Shares, m 98 110 115 120 120 120 123 125 116 114 117 +1.7%
Valuation, ×
Valuation, × P/E 16.35 9.67 26.35 11.79 0.00 6.76 1.60 2.60 0.00 0.00 3.29 7.5
P/S 0.18 0.18 0.14 0.15 0.06 0.06 0.10 0.14 0.09 0.11 0.23 0.1
P/B 1.09 1.37 1.16 1.05 0.39 0.62 0.91 0.84 0.54 0.57 1.12 0.9
EV/Sales 0.26 0.26 0.19 0.21 0.26 0.17 0.09 0.15 0.14 0.18 0.22 0.2
EV/FCF 11.01 14.76 8.97 9.04 (13.94) 19.80 1.07 8.17 (13.14) (8.59) 3.29 3.7
Cash, $m
Cash, $m Operating cash flow 652 686 838 934 (632) 477 4,772 1,339 43 (78) 3,509 n/m
Capex (274) (307) (269) (369) 347 (242) (633) (655) (391) (535) (884) +7.7%
Free cash flow 378 379 569 565 (285) 235 4,139 683 (347) (613) 2,625 n/m
Balance, $m
Balance, $m Working capital 1,351 1,384 1,102 1,315 1,416 1,440 1,346 2,379 918 783 2,991 (5.9%)
Net debt 1,362 1,613 1,336 1,347 3,120 3,101 (187) (491) 957 1,646 (410) +2.1%
Shareholders’ equity 2,571 2,903 3,249 3,586 2,202 2,533 5,056 6,631 5,679 5,450 8,104 +8.7%
Returns, %
Returns, % ROA 2.49 5.28 1.59 3.73 (14.18) 2.09 22.84 15.32 (3.94) (1.23) 17.92 (3.7) pt
ROIC 7.94 10.13 4.88 8.22 (16.64) 6.63 53.31 30.04 (6.58) (0.48) 30.87 (8.4) pt
ROE 7.32 15.19 4.17 9.35 (48.12) 9.76 75.82 36.63 (8.67) (2.85) 40.28 (10.2) pt
People
People Employees 3,165 3,165 3,266 3,442 3,729 3,418 3,616 3,776 3,855 3,678 — +1.7%
Revenue/emp, $m 5.03 6.88 8.32 7.12 4.05 7.97 12.95 10.15 8.59 7.98 — +5.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

PBF Energy is an independent U.S. petroleum refiner and supplier of unbranded fuels and other petroleum products. It buys crude oil and other feedstocks and processes them into gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks. It sells those products to commercial customers and major oil companies, generally through short-term contracts or on the spot market.

PBF owns and operates six refineries: Delaware City in Delaware, Paulsboro in New Jersey, Toledo in Ohio, Chalmette in Louisiana, and Torrance and Martinez in California. Their combined processing capacity is approximately 1,000,000 bpd under the operating conditions described at the end of 2025. Two of the refineries operate as a single unit.

PBF Energy Inc. vs peers in Oil & Gas Refining & Marketing (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DINO HF Sinclair Corporation $19.7B 11.0× 4.4× +53.15% (above 0%: growing) +348.18% (above 0%: growing) +191.21% (above 0%: growing) 21.72% 11.24% Compare
SUN Sunoco LP $14.5B 15.6× 7.3× +164.55% (above 0%: growing) +184.85% (above 0%: growing) +955.68% (above 0%: growing) 10.27% 4.09% Compare
PBF PBF Energy Inc. $9.3B 6.8× 2.7× +56.23% (above 0%: growing) +15,420.00% (above 0%: growing) +4,076.29% (above 0%: growing) 15.56% 10.89%
UGP Ultrapar Participacoes S.A. $6.2B 9.2× — +36.71% (above 0%: growing) +61.11% (above 0%: growing) +873.56% (above 0%: growing) 11.12% 7.25% Compare
CVI CVR Energy Inc. $5.9B 85.8× 20.1× +55.48% (above 0%: growing) n/m +104.65% (above 0%: growing) 4.27% 2.85% Compare
DK Delek US Holdings, Inc. $4.5B 20.0× 5.8× +47.83% (above 0%: growing) n/m +173.86% (above 0%: growing) 8.93% 7.40% Compare
PARR Par Pacific Holdings, Inc. $3.8B 4.4× 3.4× +56.80% (above 0%: growing) +707.63% (above 0%: growing) +176.88% (above 0%: growing) 28.72% 21.37% Compare
IEP Icahn Enterprises L.P. $3.7B — (loss-making) 18.5× +25.58% (above 0%: growing) n/m +12.90% (above 0%: growing) 3.09% (8.67%) Compare
DKL Delek Logistics Partners, L.P. $3.2B 19.5× 16.1× +56.18% (above 0%: growing) −34.94% (below 0%: shrinking) +193.34% (above 0%: growing) 17.18% 16.09% Compare
Median of peers $5.2B 15.6× 7.3× +54.32% +184.85% +184.05% 10.69% 7.33%

All 19 Oil & Gas Refining & Marketing stocks →

Pay and ownership Proxy statement filed 17 March 2026

Ownership

Directors and executive officers, together 5.50%
Carlos Slim Helú, et al. Paseo de las Palmas 22.40%
BlackRock, Inc. 8.50%
The Vanguard Group 7.90%
The Goldman Sachs Group, Inc. Goldman Sachs & Co. LLC 5.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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stockrow.com/PBF · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com