PBF Energy Inc (PBF)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	14,387,800	13,549,100	11,641,400	10,499,800	9,132,400
Total stockholders’ equity	US$ in thousands	6,488,300	4,929,200	1,926,200	1,642,800	3,039,600
Financial leverage ratio		2.22	2.75	6.04	6.39	3.00

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $14,387,800K ÷ $6,488,300K
= 2.22

The financial leverage ratio of PBF Energy Inc has shown a decreasing trend over the past five years, declining from 6.39 in 2020 to 2.22 in 2023. This indicates that the company's reliance on debt to finance its operations has been reducing over time. A lower financial leverage ratio implies that a company is using less debt relative to equity to fund its assets and operations, which may reduce financial risk and improve financial flexibility. PBF Energy Inc's declining financial leverage ratio suggests a more conservative capital structure strategy in recent years, potentially enhancing its overall financial stability and resilience to economic downturns.