PBFPBF Energy Inc.
Is the business good?
The checks split: earnings fully cash-backed (1.1×), but 3 of 9 health tests passed and margins compressing.
Weak, deteriorating fundamentals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 4% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
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.
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
- 1.11×
Cash conversion · operating cash flow covers the operating profit after tax
- 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 is operating cash flow over operating profit after tax.
Oil & Gas Refining & Marketing
Ranks #6 of 9 by RyuScore