PBF Energy Inc (PBF)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,245,900	1,434,900	4,295,800	4,653,600	2,064,900
Total assets	US$ in thousands	14,387,800	13,549,100	11,641,400	10,499,800	9,132,400
Debt-to-assets ratio		0.09	0.11	0.37	0.44	0.23

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,245,900K ÷ $14,387,800K
= 0.09

The debt-to-assets ratio of PBF Energy Inc has shown a declining trend over the past five years. In 2023, the ratio decreased significantly to 0.09 from 0.15 in 2022. This indicates that the company relied less on debt to finance its assets in 2023 compared to the previous year.

Furthermore, the ratio has shown considerable fluctuations in recent years, dropping from 0.45 in 2020 to 0.23 in 2019 before rising sharply to 0.38 in 2021. The decrease in the debt-to-assets ratio suggests that PBF Energy Inc has reduced its debt levels relative to its asset base in recent years.

Overall, the declining trend in the debt-to-assets ratio of PBF Energy Inc indicates a potentially improved financial position in terms of leverage and debt management. It suggests the company may be managing its debt more effectively and possibly decreasing financial risk related to excessive leverage.