PBF Energy Inc (PBF)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	1,245,900	1,243,000	1,441,500	1,438,000	1,434,900	1,447,700	2,012,700	4,248,700	4,295,800	4,318,000	4,624,400	4,652,300	4,653,600	4,411,100	4,092,800	3,546,100	2,064,900	2,064,300	2,029,400	2,188,500
Total assets	US$ in thousands	14,387,800	14,692,800	14,034,200	13,139,100	13,549,100	13,304,300	13,975,700	12,948,300	11,641,400	11,844,200	11,654,200	11,270,100	10,499,800	10,191,300	10,073,300	9,134,100	9,132,400	8,917,400	8,809,700	9,126,100
Debt-to-assets ratio		0.09	0.08	0.10	0.11	0.11	0.11	0.14	0.33	0.37	0.36	0.40	0.41	0.44	0.43	0.41	0.39	0.23	0.23	0.23	0.24

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 exhibited fluctuation over the past eight quarters. In the most recent quarter, Q4 2023, the ratio was 0.09, which remained consistent with the previous quarter, Q3 2023. This suggests that the company's debt level relative to its total assets has remained relatively stable in the short term.

Looking back further, the ratio was slightly higher in Q2 and Q1 of 2023 at 0.11, indicating a slight increase in debt compared to assets during that period. However, there was a notable improvement compared to the ratios of 0.15 seen in Q4 and Q3 of 2022.

Further analysis reveals that the debt-to-assets ratio was at its highest point in Q1 2022 at 0.34, indicating a significant increase in debt relative to assets during that period. This was followed by a gradual decrease in the ratio over the next three quarters, reaching 0.09 in Q4 2023.

Overall, the trend in PBF Energy Inc's debt-to-assets ratio shows fluctuations but with a general downward trajectory from the peak in Q1 2022. This indicates a potential improvement in the company's leverage position and indicates a relatively healthy balance between debt and assets in the most recent quarters.