PBF Energy Inc (PBF)

Debt-to-capital ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Long-term debt US$ in thousands 1,457,300 1,254,400 1,251,500 1,248,600 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
Total stockholders’ equity US$ in thousands 5,544,200 5,881,700 6,265,100 6,455,900 6,488,300 6,718,500 6,044,900 5,137,900 4,929,200 4,218,200 3,147,600 1,911,000 1,926,200 1,729,200 1,664,400 1,606,700 1,642,800 1,935,400 2,344,800 1,948,300
Debt-to-capital ratio 0.21 0.18 0.17 0.16 0.16 0.16 0.19 0.22 0.23 0.26 0.39 0.69 0.69 0.71 0.74 0.74 0.74 0.70 0.64 0.65

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,457,300K ÷ ($1,457,300K + $5,544,200K)
= 0.21

The debt-to-capital ratio of PBF Energy Inc has shown fluctuations over the past few years, starting at 0.65 in March 2020 and peaking at 0.74 in December 2020 and March 2021. Subsequently, the ratio decreased to 0.39 in June 2022 and then experienced a significant decline to 0.16 by December 2023. The ratio slightly increased to 0.21 by December 2024.

The trend indicates that PBF Energy Inc has been actively managing its capital structure by reducing its reliance on debt financing and increasing its equity base. The declining debt-to-capital ratio suggests a more conservative approach to capital allocation and potentially improved financial health, as lower ratios indicate a lower level of debt relative to total capital. However, the uptick in the ratio by the end of 2024 may indicate a slight shift back towards increased debt usage.

Overall, monitoring the debt-to-capital ratio of PBF Energy Inc is crucial for assessing its financial leverage and risk exposure, as well as understanding its capital allocation strategies and financial stability.