# PBF ENERGY INC. (PBF) — Stock CV

PBF Energy Inc. is a $10.1B energy company. Revenue grew 13.5% over the last year, it keeps 4¢ of every dollar of sales as profit, and its net debt equals ~2.2 years of free cash flow. It trades at 7.4× earnings — in the most expensive third of its own history.

> PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. The company owns refineries in Delaware, Ohio, New Jersey, California, and Louisiana.

## Identity

- **Ticker**: PBF
- **Sector**: Energy
- **Industry**: Petroleum Refining
- **Headquarters**: PARSIPPANY, NJ
- **Employees**: 3 678
- **Website**: https://www.pbfenergy.com
- **Market cap**: $10.1B
- **Last price**: $84.85
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $34.4B
- **Net income**: $1.35B
- **Free cash flow**: $743M
- **Net debt**: $1.62B
- **P/E**: 7.4
- **Revenue growth (YoY)**: 13.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 70 |
| Growth | 31 |
| Profitability | 31 |
| Health | 27 |
| Quality | 65 |
| Moat | 16 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +13.5% YoY
- [x] Profitable — $1.35B TTM
- [x] Profit growing — +70.3% YoY
- [x] Generates cash — $743M TTM
- [x] Debt under control — ~2.2y of cash flow to repay
- [x] Established company — $10.1B market cap
- [x] Not printing shares — -4.8% shares over ~5y
- [x] Proven track record — 7/10 profitable years
- [ ] Financially stable — health score 37/100
- [x] Pays a dividend — yield 1.27%
- [x] Valuation not extreme — P/E 7.4

## Experience (career milestones)

- **FY2022** — Became debt-free: cash now exceeds total debt
- **FY2022** — Best year on record: $2.88B net income
- **Nov 30, 2022** — PBF Energy acquired of the common units representing limited partner interests in PBF Logistics
- **2020** — With the acquisition of the Martinez Refinery, PBF Energy currently owns and operates six domestic…
- **FY2019** — Revenue crossed $1B: $24.5B for the year
- **FY2019** — Revenue crossed $10B: $24.5B for the year
- **FY2016** — First recorded profitable year: $171M net income
- **2016** — PBF acquired the 155,000 BPD ExxonMobil refinery in Torrance, California for $537.5M
- **2015** — PBF acquired the 189,000 BPD Chalmette, Louisiana refinery from ExxonMobil and its partner, the state-owned…
- **2012** — PBF went public in December 2012 with a $533 million initial public offering
- **2010** — Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF…
- **2008** — PBF was formed in 2008 as a joint venture by Petroplus Holdings and the private equity companies Blackstone Group…

## Strengths

- Revenue growing 13.5% year over year

## Watch-outs

- Thin interest coverage (0.0×)
- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $27.3B | $231M | $228M |
| FY2022 | $46.8B | $2.88B | $4.14B |
| FY2023 | $38.3B | $2.14B | $679M |
| FY2024 | $33.1B | -$534M | -$348M |
| FY2025 | $29.3B | -$159M | -$783M |

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Source: https://stockcv.com/PBF — derived from company filings; may be delayed or incomplete. Information, not investment advice.