PBF Energy Inc (PBF)

Financial leverage 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
Total assets	US$ in thousands	12,703,200	13,130,700	14,076,100	13,808,200	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
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
Financial leverage ratio		2.29	2.23	2.25	2.14	2.22	2.19	2.32	2.56	2.75	3.15	4.44	6.78	6.04	6.85	7.00	7.01	6.39	5.27	4.30	4.69

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $12,703,200K ÷ $5,544,200K
= 2.29

The financial leverage ratio of PBF Energy Inc has shown fluctuations over the given periods, ranging from a high of 7.01 as of March 31, 2021, to a low of 2.14 as of March 31, 2024. This ratio measures the company's use of debt to finance its operations and indicates the extent to which it relies on debt financing.

The trend indicates that the company's financial leverage initially increased from 4.69 as of March 31, 2020, to peak at 7.01 by March 31, 2021, before gradually decreasing to 2.29 as of December 31, 2024. The decline in the ratio suggests a reduction in the company's reliance on debt financing compared to equity.

Overall, the decreasing trend in the financial leverage ratio from 2021 to 2024 indicates a more conservative approach by PBF Energy Inc towards debt financing, potentially lowering its financial risk and improving its financial stability in the long run.