PBF
PBF Energy Inc.
PBF's fundamentals are strong: revenue grew 32% and its operating margin went from −1.9% to 9.8%. At 3.2x earnings, it's trading in line with its usual 3.0x. Analysts expect that strong growth to continue, though they disagree widely on how much.
PBF Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Strong |
PBF's revenue, profitability, cash flow and balance sheet are all currently healthy.
PBF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 1.9x | $43.44 | -39% |
| Forward | 2.7x | $70.96 | — |
| Fair | 3x | $68.24 | -3.8% |
| Current | 3.2x | $70.96 | — |
| Expensive | 11x | $240 | +238% |
Historical ranges are pointers, not guarantees.
PBF's PE is in its fair range at 3.2x. If earnings grow as analysts expect, today's price would be 2.7x next year's earnings.
PBF Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for PBF, with profitability improving. However, they disagree widely on these estimates.
PBF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $26.10 | +16% |
| Q3 2026 | $22.47 | +$27.01 |
| Q2 2026 | $11.38 | +$19.86 |
| Q1 2026 | $3.79 | +$12.78 |
| Q4 2025 | -$1.39 | +$3.21 |
| Q3 2025 | -$4.54 | -$2.02 |
| Q2 2025 | -$8.48 | -239% |
| Q1 2025 | -$8.99 | -162% |
| Q4 2024 | -$4.60 | -128% |
PBF has returned to profit: it earned $22.47 per share over the past year, after losing money the year before.
PBF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.1B | +59% |
| Q2 2026 | $11.7B | +56% |
| Q1 2026 | $7.9B | +12% |
| Q4 2025 | $7.1B | -2.9% |
| Q3 2025 | $7.7B | -8.7% |
| Q2 2025 | $7.5B | -14% |
| Q1 2025 | $7.1B | -18% |
| Q4 2024 | $7.4B | -20% |
PBF's revenue is growing: $12.1B last quarter, up 59% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +14 points |
| Q2 2026 | 11% | +10 points |
| Q1 2026 | 3.8% | +11 points |
| Q4 2025 | 1.8% | +7 points |
| Q3 2025 | 3.7% | +8.4 points |
| Q2 2025 | 0.6% | +1.4 points |
| Q1 2025 | -7.2% | -8.9 points |
| Q4 2024 | -5.2% | -4.7 points |
PBF's operating margin was 17% last quarter, up 14 points from the same quarter a year ago, near the top of its range since 2019.
PBF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +$1.9B |
| Q2 2026 | $1.5B | +4076% |
| Q1 2026 | -$673.1M | +$99.3M |
| Q4 2025 | $77M | +$502.7M |
| Q3 2025 | -$122.8M | +$47M |
| Q2 2025 | $35M | -91% |
| Q1 2025 | -$772.4M | -$648.6M |
| Q4 2024 | -$425.7M | -290% |
PBF's free cash flow has turned positive after two years mostly in the red: $2.6B over the past year.
PBF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.4% | +1.7M shares |
| 1 year | +4.1% | +4.8M shares |
| 3 years | -5.3% | -6.9M shares |
| 5 years | +1.2% | +1.4M shares |
| Available history | +0.7% | +903K shares |
PBF has 123M diluted shares, up 4.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $29M |
| Q3 2024 | $75M |
| Q2 2024 | $100.1M |
| Q1 2024 | $125M |
PBF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 2.9x | Moderate |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.1x | Net Cash |
| Q4 2023 | -0.2x | Net Cash |
| Q3 2023 | -0.2x | Net Cash |
| Q2 2023 | -0.0x | Net Cash |
PBF has more cash than debt.
PBF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.7 | Neutral |
| Stochastic | 36.8 | Neutral |
PBF's weekly RSI is 55 (neutral) and its Stochastic is 37 (neutral).
PBF PE vs Energy Sector
| Metric | PBF | Sector median | Relative |
|---|---|---|---|
| PE | 3.2x | 13x | 76% below |
| PE % | 51 | 61 | 10 pts below |
PBF is trading at 3.2x earnings, a 76% discount to the Energy sector's median of 13x.
PBF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $77.0 | 7.8% below |
| 20 week MA | $71.1 | 0.2% below |
| 50 week MA | $51.2 | 39% above |
| 100 week MA | $38.2 | 86% above |
| 200 week MA | $40.6 | 75% above |
PBF has slipped below its 8- and 20-week averages, though it's still 75% above its 200-week average.
PBF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.1 | $6.88 | -78% |
| 2021 | $6.88 | $12.3 | +79% |
| 2022 | $12.3 | $41.1 | +233% |
| 2023 | $41.1 | $44.0 | +7% |
| 2024 | $44.0 | $25.4 | -42% |
| 2025 | $25.4 | $26.2 | +3% |
| 2026 YTD | $26.2 | $71.0 | +171% |
PBF's yearly returns have swung widely, from +233% in 2022 to −78% in 2020. It's up 171% so far in 2026.