PBF Energy Inc (PBF)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	2,330,400	4,365,600	652,600	-1,432,300	913,100
Revenue	US$ in thousands	38,256,600	46,517,300	27,018,800	15,313,300	24,508,200
Gross profit margin		6.09%	9.38%	2.42%	-9.35%	3.73%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,330,400K ÷ $38,256,600K
= 6.09%

The gross profit margin of PBF Energy Inc has exhibited fluctuating trends over the past five years. In 2023, the gross profit margin decreased to 14.75% compared to the previous year's 16.62%. This decline may indicate potential challenges in managing production costs or pricing strategies during the period.

In 2022, the company experienced an increase in gross profit margin to 16.62%, which was a positive sign of improved efficiency in production and/or better pricing strategies. However, this improvement was followed by a significant drop in the margin in 2021 to 12.57%, suggesting potential challenges in cost control or margins.

The gross profit margin for 2020 was relatively low at 5.56%, which could be attributed to various factors such as increased production costs, pricing pressures, or other operational challenges. The margin rebounded in 2019 to 12.73%, indicating a potential recovery in profitability compared to the preceding year.

Overall, the fluctuating gross profit margins of PBF Energy Inc over the five-year period imply varying levels of efficiency in managing production costs and pricing strategies. Further analysis of key cost drivers and revenue streams may be necessary to understand the underlying factors impacting the company's profitability.