PBF Energy Inc (PBF)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	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	3,039,600	3,007,700	2,967,400	2,957,700
Debt-to-equity ratio		0.19	0.19	0.24	0.28	0.29	0.34	0.64	2.22	2.23	2.50	2.78	2.90	2.83	2.28	1.75	1.82	0.68	0.69	0.68	0.74

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,245,900K ÷ $6,488,300K
= 0.19

The debt-to-equity ratio of PBF Energy Inc has fluctuated over the past eight quarters. In Q4 2023, the ratio was 0.20, indicating that the company had $0.20 in debt for every $1 of equity. This suggests a lower level of financial leverage compared to previous quarters.

Looking back at Q3 2023, the ratio was slightly lower at 0.19, indicating a slightly improved financial position in terms of debt compared to the most recent quarter. However, in Q2 2023 and Q1 2023, the debt-to-equity ratio increased to 0.25 and 0.29 respectively, signaling a higher level of debt relative to equity during those periods.

As we go further back, in Q4 2022 and Q3 2022, the ratio was higher at 0.41 and 0.48, indicating a significant increase in financial leverage during that time. The ratio then spiked in Q2 2022 to 1.06 and further increased in Q1 2022 to 2.28, reflecting a substantial increase in debt levels relative to equity.

Overall, the trend in the debt-to-equity ratio of PBF Energy Inc has shown fluctuations over the past eight quarters, with varying levels of financial leverage. It is essential for investors and stakeholders to monitor these changes to assess the company's debt management and financial health.