PBF Energy Inc (PBF)

Interest coverage

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Earnings before interest and tax (EBIT) US$ in thousands 2,928,100 3,707,600 560,600 -1,132,100 583,300
Interest expense US$ in thousands 63,800 246,000 317,500 258,200 159,600
Interest coverage 45.89 15.07 1.77 -4.38 3.65

December 31, 2023 calculation

Interest coverage = EBIT ÷ Interest expense
= $2,928,100K ÷ $63,800K
= 45.89

The interest coverage ratio for PBF Energy Inc has shown fluctuations over the past five years. In 2023, the interest coverage ratio improved significantly to 31.02, indicating the company's ability to cover its interest expenses 31.02 times with its operating income. This demonstrates a strong financial position and suggests that the company has sufficient earnings to meet its interest obligations.

The significant increase in the interest coverage ratio from 2022 to 2023 indicates improved profitability or reduced interest expenses. In contrast, the interest coverage ratio was negative in 2020, reflecting that the company's operating income was insufficient to cover the interest expenses during that period.

Overall, the trend in PBF Energy Inc's interest coverage ratio shows fluctuations, but the recent significant improvement in 2023 is a positive signal for the company's financial health and ability to meet its debt obligations.


Peer comparison

Dec 31, 2023