PBF Energy Inc. (PBF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+18.3%

$89.72

vs $75.81 price

Levered DCF

$88.55

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

4.16

Safe zone

Rating

A+

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-19.51×	-5.78×	2.57×	1.74×	6.76×	-0.61×	11.79×	29.43×
P/B	0.58×	0.56×	0.85×	1.01×	0.81×	0.52×	1.24×	1.41×
P/S	0.11×	0.09×	0.14×	0.11×	0.06×	0.06×	0.15×	0.14×
EV / EBITDA	-21.55×	-2,026.75×	1.59×	1.25×	4.63×	-9.79×	4.92×	6.73×
Gross margin	-1.9%	-1.1%	6.3%	10.0%	3.3%	-10.8%	3.7%	2.2%
Operating margin	-0.2%	-2.1%	7.7%	8.9%	2.2%	-9.4%	2.6%	1.3%
Net margin	-0.5%	-1.6%	5.6%	6.1%	0.8%	-9.2%	1.3%	0.5%
Current ratio	1.21×	1.25×	1.56×	1.26×	1.38×	1.58×	1.52×	1.52×
Debt / equity	0.55×	0.42×	0.32×	0.54×	2.6×	3.4×	0.79×	0.72×
Interest coverage	-0.3×	-5.67×	21.26×	15.58×	1.88×	-5.49×	4.07×	2.11×
Dividend yield	4.1%	3.9%	1.9%	0.5%	2.5%	4.2%	3.8%	3.7%
Payout ratio	-79.8%	-22.6%	4.9%	0.9%	17.2%	-2.6%	44.9%	108.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.0%	-9.6%	33.0%	58.4%	12.0%	-84.8%	10.5%	4.8%
Return on invested capital	-0.4%	-5.3%	21.4%	38.8%	7.2%	-17.4%	7.6%	5.1%
Return on assets	-1.2%	-4.2%	14.9%	21.2%	2.0%	-13.3%	3.5%	1.6%
Free cash flow yield	-25.3%	-11.3%	12.4%	82.8%	14.6%	-97.5%	14.1%	13.8%
Earnings yield	-5.1%	-17.3%	39.0%	57.5%	14.8%	-163.9%	8.5%	3.4%
Enterprise value	$5.5B	$4.9B	$5.8B	$5.4B	$5.2B	$4.8B	$5.3B	$5.1B
Net debt / EBITDA	-9.36×	-740.75×	0.07×	0.1×	3.25×	-8.07×	1.45×	1.76×
Cash conversion cycle (days)	36	33	36	28	39	40	36	29