$5.5 B

PBF Mkt cap, 15-Oct-2018

$13.2 B

PBF Energy Revenue Q2, 2018
PBF Energy Gross profit (Q2, 2018)645.4 M
PBF Energy Gross profit margin (Q2, 2018), %4.9%
PBF Energy Net income (Q2, 2018)329.5 M
PBF Energy EBIT (Q2, 2018)517.9 M
PBF Energy Cash, 30-Jun-2018478.3 M
PBF Energy EV7.3 B

PBF Energy Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

19.2b19.8b13.1b15.9b

Revenue growth, %

4%(34%)21%

EBIT

319.9m150.7m360.1m498.9m

EBIT margin, %

2%1%3%3%

Interest expense

93.8m98.8m106.2m150.0m

Interest income

93.8m98.8m106.2m150.0m

Pre tax profit

230.8m55.9m282.3m363.2m

Income tax expense

16.7m(22.4m)86.7m137.7m

Net Income

214.1m78.3m195.5m225.5m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

4.9b4.7b5.3b5.3b3.0b3.6b3.2b2.8b3.9b4.5b4.8b5.0b5.5b5.8bwdxefcqufszuzezftuxetqsqxt13.2b

Cost of goods sold

4.8b5.6b12.6b

Gross profit

648.0m161.3m645.4m

Gross profit Margin, %

12%3%5%

General and administrative expense

30.7m36.6m33.0m34.3m36.0m39.2m53.3m37.6m43.4m44.0m43.8m41.1m58.3m62.8m121.5m

Operating expense total

30.7m36.6m33.0m34.3m36.0m39.2m53.3m37.6m43.4m44.0m43.8m41.1m58.3m62.8m121.5m

EBIT

(55.6m)260.2m87.9m284.1m172.4m273.8m90.1m(5.4m)234.8m129.7m694.0k(111.1m)587.2m95.7m517.9m

EBIT margin, %

(1%)5%2%5%6%8%3%0%6%3%0%(2%)11%2%4%

Interest expense

26.2m25.3m26.2m24.4m22.2m26.9m28.0m37.5m35.9m38.5m37.2m40.7m37.0m43.2m86.6m

Pre tax profit

(84.2m)233.0m59.3m265.3m152.3m248.9m67.0m(45.8m)197.1m88.1m(39.1m)(176.2m)551.2m52.8m436.0m

Income tax expense

(19.3m)49.7m13.5m95.3m49.1m90.4m11.5m(22.5m)76.4m31.7m(19.0m)(72.0m)204.0m10.9m106.5m

Net Income

(64.9m)183.3m45.8m170.0m103.1m158.5m55.5m(23.3m)120.6m56.4m(20.0m)(104.2m)347.2m41.8m329.5m

PBF Energy Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

77.0m397.9m944.3m746.3m

Accounts Receivable

596.6m551.3m454.8m620.2m

Inventories

1.4b1.1b1.2b1.9b

Current Assets

2.2b2.3b3.0b3.4b

PP&E

1.8b1.9b2.4b3.3b

Total Assets

4.4b5.2b6.1b7.6b

Accounts Payable

402.3m335.3m315.7m535.9m

Short-term debt

12.0m39.7m

Current Liabilities

1.6b1.5b1.5b2.1b

Long-term debt

723.5m1.3b1.8b2.1b

Total Debt

735.6m1.3b1.8b2.1b

Additional Paid-in Capital

657.5m1.5b1.9b2.2b

Retained Earnings

3.6m(123.3m)(83.5m)(44.9m)

Total Equity

1.7b1.7b2.1b2.6b

Debt to Equity Ratio

0.4 x0.7 x0.9 x0.8 x

Debt to Assets Ratio

0.2 x0.2 x0.3 x0.3 x

Financial Leverage

2.6 x3.1 x2.9 x3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

57.4m237.1m317.5m477.4m449.5m623.8m472.8m740.3m1.4b625.4m306.1m173.0m300.9m363.0m478.3m

Accounts Receivable

577.9m529.6m713.2m698.4m441.2m540.2m395.6m541.5m647.9m653.6m610.2m611.6m776.0m831.1m1.0b

Inventories

1.5b1.5b1.7b1.8b1.1b1.3b1.1b1.2b1.3b1.8b2.1b1.9b2.3b2.6b2.5b

Current Assets

2.2b2.4b2.8b3.0b2.3b2.7b2.3b3.0b3.9b3.5b3.1b2.7b3.4b3.9b4.1b

PP&E

1.7b1.8b1.8b1.9b1.9b2.0b2.0b2.4b2.5b3.3b3.4b3.5b3.5b3.5b3.6b

Total Assets

4.3b4.7b5.7b5.9b5.2b5.5b5.1b6.2b7.0b7.5b7.5b7.5b8.0b8.3b8.5b

Accounts Payable

563.9m246.8m339.2m377.3m313.2m354.6m212.8m388.2m373.8m369.7m380.6m449.2m447.6m666.8m637.9m

Short-term debt

13.0m135.9m59.7m4.4m3.2m

Current Liabilities

1.6b1.6b1.9b1.8b1.4b1.6b1.1b1.6b1.9b2.0b2.0b2.1b2.3b2.6b2.5b

Long-term debt

722.6m710.3m1.0b1.1b1.3b1.4b1.4b1.8b2.2b2.3b2.1b2.2b2.2b2.2b2.2b

Total Debt

722.6m710.3m1.0b1.1b1.3b1.4b1.4b1.8b2.4b2.4b2.1b2.2b2.2b2.2b2.2b

Total Liabilities

2.7b2.9b3.6b3.7b3.4b3.7b3.2b4.1b4.8b5.2b5.0b5.1b5.3b5.4b5.4b

Common Stock

88.0k92.0k92.0k92.0k93.0k93.0k93.0k94.0k94.0k94.0k

Additional Paid-in Capital

659.7m1.2b1.5b1.5b1.6b1.6b1.6b1.9b1.9b2.0b2.3b2.3b2.3b2.3b2.3b

Retained Earnings

64.6m64.7m179.3m233.8m472.0m

Total Equity

1.6b1.8b2.1b2.2b1.8b1.9b1.9b2.0b2.2b2.3b2.5b2.4b2.7b2.9b3.2b

Debt to Equity Ratio

0.7 x0.7 x

Debt to Assets Ratio

0.3 x0.3 x

Financial Leverage

2.6 x2.6 x2.8 x2.7 x2.9 x3 x2.7 x3 x3.2 x3.3 x3 x3.2 x3 x2.8 x2.7 x

PBF Energy Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

214.1m78.3m195.5m225.5m

Accounts Receivable

(92.9m)45.4m97.6m(165.4m)

Inventories

46.0m(394.0m)(271.9m)236.6m

Accounts Payable

42.2m(67.0m)(24.3m)217.6m

Cash From Operating Activities

291.3m456.3m560.4m651.9m

Purchases of PP&E

(318.4m)(476.4m)(354.0m)(298.7m)

Cash From Investing Activities

(313.3m)(663.6m)(812.1m)(1.4b)

Long-term Borrowings

Dividends Paid

(37.9m)(88.6m)(106.6m)(117.5m)

Cash From Financing Activities

(187.0m)528.2m798.1m544.0m

Interest Paid

92.8m98.5m100.4m146.1m

Income Taxes Paid

1.1m65.5m124.0m3.8m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

(64.9m)183.3m45.8m170.0m103.1m(124.2m)223.0m41.8m329.5m

Depreciation and Amortization

27.4m33.2m34.7m68.0m47.7m134.6m215.1m88.0m182.3m

Accounts Receivable

8.5m(155.8m)121.5m(81.5m)

Inventories

(178.7m)(349.2m)(278.3m)(80.8m)

Accounts Payable

(138.8m)(102.5m)31.9m61.7m

Cash From Operating Activities

322.2m

Purchases of PP&E

(220.4m)(267.2m)(24.9m)(115.7m)

Cash From Investing Activities

(428.6m)(609.9m)(93.3m)(365.2m)

Dividends Paid

(65.8m)(98.7m)(33.2m)(67.2m)

Cash From Financing Activities

(109.9m)(157.7m)(31.3m)(37.3m)

PBF Energy Ratios

USDY, 2018

EV/EBIT

14.1 x

Debt/Equity

0.7 x

Debt/Assets

0.3 x

Financial Leverage

2.7 x
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