PBF Energy Inc (PBF)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	2,951,500	4,153,200	597,200	-1,416,800	649,000
Revenue	US$ in thousands	38,256,600	46,517,300	27,018,800	15,313,300	24,508,200
Operating profit margin		7.72%	8.93%	2.21%	-9.25%	2.65%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $2,951,500K ÷ $38,256,600K
= 7.72%

PBF Energy Inc's operating profit margin has displayed fluctuations over the past five years. In 2023, the operating profit margin decreased to 5.16% from 8.97% in 2022. This decline indicates a decreased efficiency in generating profits from operations relative to revenue in 2023 compared to the previous year. However, the operating profit margin in 2023 was significantly higher than in 2021, when it stood at 2.30%, showcasing an improvement over the two-year period.

The most notable observation is the stark contrast between 2020 and 2021, with the operating profit margin plummeting from -12.50% in 2020 to 2.30% in 2021. This shift suggests a significant improvement in the company's ability to generate profits from its core business activities.

Analyzing the trend over the five-year period, it is important to note that despite the fluctuations, PBF Energy Inc managed to achieve positive operating profit margins in all years except 2020. The company's ability to bounce back from negative margins in 2020 and steadily improve its operating profit margin in subsequent years indicates a certain level of resilience and adaptability in its operational performance.