Is the business good?
How good a business is PBF?
PBF Energy Inc. earns 22% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
22%
Return on invested capital · cost of capital 9.0% · 13 points above what the capital costs: growth creates value
- Operating margin
- 5.8%
Operating margin · Oil & Gas Refining & Marketing median 5.8% · 12 months to Q2 2026
- Cash conversion
- 0.55×
Cash conversion · some of the reported profit has not turned into cash yet
- Share count, year on year
- +5.5%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −9.4% |
| FY2021 | 2.2% |
| FY2022 | 8.9% |
| FY2023 | 7.7% |
| FY2024 | −2.1% |
| FY2025 | −0.19% |
Details›
- Gross margin12 months to Q2 2026
- 3.9%
- Operating margin12 months to Q2 2026
- 5.8%
- Net margin12 months to Q2 2026
- 3.9%
- Free cash flow margin
- 2.2%
- Revenue, trailing twelve months
- $34.4B
- Free cash flow, trailing twelve months
- $743M
- Net income, trailing twelve months
- $1.35B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 22%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Oil & Gas Refining & Marketing
Ranks #8 of 11 by Smart Score