PBF Energy (PBF) financial statements
PBF Energy reported revenue of $29.3B in fiscal 2025, up 7.0% a year over 9 years.
Net income was -$158M and the operating margin -0.2%, against 3.1% in 2016.
Free cash flow was -$783M.
The diluted share count rose 11% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PBF Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.9B | $21.8B | $27.2B | $24.5B | $15.1B | $27.3B | $46.8B | $38.3B | $33.1B | $29.3B |
| Cost of revenue | $15.2B | $20.8B | $26.6B | $23.6B | $16.7B | $26.4B | $42.2B | $35.9B | $33.5B | $29.9B |
| Gross profit | $683M | $961M | $603M | $913M | -$1.6B | $887M | $4.7B | $2.4B | -$372M | -$571M |
| Selling, general and admin | $166M | $214M | $277M | $284M | $248M | $247M | $469M | $362M | $260M | $332M |
| Operating income | $499M | $732M | $358M | $649M | -$1.4B | $597M | $4.2B | $3.0B | -$699M | -$54M |
| Interest expense | $150M | $154M | $170M | $160M | $258M | $318M | $246M | $64M | $72M | $182M |
| Pre-tax income | $363M | $799M | $209M | $480M | -$1.3B | $328M | $3.6B | $2.9B | -$769M | -$235M |
| Income tax | $138M | $316M | $34M | $104M | $2M | $12M | $585M | $724M | -$228M | -$74M |
| Net income | $171M | $416M | $128M | $319M | -$1.4B | $231M | $2.9B | $2.1B | -$534M | -$158M |
| EPS (diluted) | $1.74 | $3.73 | $1.10 | $2.64 | -$11.64 | $1.90 | $22.84 | $16.52 | -$4.60 | -$1.39 |
| Diluted shares | 104M | 114M | 119M | 122M | 121M | 123M | 127M | 131M | 117M | 115M |
| Gross margin | 4.3% | 4.4% | 2.2% | 3.7% | -10.8% | 3.3% | 10.0% | 6.3% | -1.1% | -1.9% |
| Operating margin | 3.1% | 3.4% | 1.3% | 2.6% | -9.4% | 2.2% | 8.9% | 7.7% | -2.1% | -0.2% |
| Net margin | 1.1% | 1.9% | 0.5% | 1.3% | -9.2% | 0.8% | 6.1% | 5.6% | -1.6% | -0.5% |
Balance sheet
Fiscal years, from PBF Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $786M | $573M | $597M | $815M | $1.6B | $1.3B | $2.2B | $1.8B | $536M | $528M |
| Inventory | $1.9B | $2.2B | $1.9B | $2.1B | $1.7B | $2.5B | $2.8B | $3.2B | $2.6B | $2.6B |
| Total current assets | $3.4B | $3.8B | $3.2B | $3.8B | $3.9B | $5.2B | $6.5B | $6.6B | $4.5B | $4.5B |
| Property, plant and equipment | $3.3B | $3.5B | $3.8B | $4.0B | $4.8B | $4.9B | $5.4B | $5.0B | $5.1B | $5.5B |
| Total assets | $7.6B | $8.1B | $8.0B | $9.1B | $10.5B | $11.6B | $13.5B | $14.4B | $12.7B | $13.0B |
| Total current liabilities | $2.1B | $2.4B | $2.1B | $2.5B | $2.5B | $3.8B | $5.2B | $4.2B | $3.6B | $3.7B |
| Long-term debt | $2.1B | $2.2B | $1.9B | $2.1B | $4.7B | $4.3B | $1.4B | $1.2B | $1.5B | $2.1B |
| Total liabilities | $5.1B | $5.2B | $4.8B | $5.5B | $8.3B | $9.1B | $8.5B | $7.8B | $7.0B | $7.6B |
| Shareholders' equity | $2.0B | $2.3B | $2.7B | $3.0B | $1.6B | $1.9B | $4.9B | $6.5B | $5.5B | $5.3B |
| Net debt | $1.4B | $1.6B | $1.3B | $1.2B | $3.0B | $3.0B | -$769M | -$538M | $921M | $1.6B |
Cash flow
Fiscal years, from PBF Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $652M | $686M | $838M | $934M | -$632M | $477M | $4.8B | $1.3B | $43M | -$78M |
| Capital spending | $299M | $307M | $318M | $405M | $196M | $249M | $633M | $660M | $391M | $705M |
| Free cash flow | $353M | $379M | $520M | $529M | -$828M | $228M | $4.1B | $679M | -$348M | -$783M |
| Stock-based compensation | $23M | $27M | $26M | $37M | $34M | $36M | $54M | $52M | $44M | $39M |
| Dividends paid | $117M | $132M | $139M | $144M | — | — | — | — | — | — |
| Share buybacks (net) | -$743,000 | -$1M | -$8M | -$5M | -$2M | $0 | -$156M | -$532M | -$329M | $0 |
| Net borrowing | -$195M | — | — | — | — | — | — | -$666M | $0 | $0 |
| Free cash flow margin | 2.2% | 1.7% | 1.9% | 2.2% | -5.5% | 0.8% | 8.8% | 1.8% | -1.0% | -2.7% |
| Dividends per share | $1.13 | $1.16 | $1.17 | $1.18 | — | — | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for PBF.
Open PBF in InvestinglyQuestions
What was PBF Energy's revenue in 2025?
$29.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does PBF Energy generate?
-$783M in fiscal 2025 (operating cash flow minus capital spending).
From PBF Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.