PBF Energy Inc (PBF)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	2,864,300	3,824,200	4,030,700	3,997,400	3,461,600	2,716,300	1,548,200	265,600	243,100	-213,500	-474,500	500	-1,390,300	-1,029,400	-756,300	-1,326,400	423,800	-129,600	19,800	430,100
Revenue (ttm)	US$ in thousands	38,256,600	39,942,800	41,879,800	46,732,000	46,517,300	43,892,800	38,415,600	31,236,900	27,018,800	22,417,400	18,848,000	14,952,300	15,313,300	17,992,600	20,860,300	24,498,100	24,508,200	24,531,380	25,714,640	26,599,520
Pretax margin		7.49%	9.57%	9.62%	8.55%	7.44%	6.19%	4.03%	0.85%	0.90%	-0.95%	-2.52%	0.00%	-9.08%	-5.72%	-3.63%	-5.41%	1.73%	-0.53%	0.08%	1.62%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,864,300K ÷ $38,256,600K
= 7.49%

PBF Energy Inc's pretax margin, a key profitability ratio, has shown fluctuations over recent quarters. In Q4 2023, the pretax margin was 7.53%, indicating the company generated $0.0753 in pre-tax profit for every dollar of revenue. This figure has declined from the previous quarter's 9.65% but is still higher than Q2 and Q1 2023. Comparing year-on-year, the current pretax margin is also higher than Q4 2022's 7.60%.

The trend indicates that PBF Energy Inc's profitability has improved compared to earlier quarters in 2023 and the same period in 2022. However, the declining trend over the last two quarters may warrant further investigation into the company's cost structure, pricing strategies, and overall operational efficiency to sustain and improve profitability in the future.