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.
Peer comparison
Dec 31, 2023