PBF Energy Inc (PBF)

Interest coverage

		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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	2,928,100	3,908,800	4,145,300	4,183,700	3,707,600	3,007,300	1,868,500	581,200	560,600	102,700	-169,900	289,800	-1,132,100	-806,000	-563,600	-1,157,100	583,400	33,600	188,700	611,600
Interest expense (ttm)	US$ in thousands	63,800	84,600	114,600	186,300	246,000	291,000	320,300	315,600	317,500	316,200	304,600	289,300	258,200	223,400	192,700	169,300	159,600	162,276	164,865	166,213
Interest coverage		45.89	46.20	36.17	22.46	15.07	10.33	5.83	1.84	1.77	0.32	-0.56	1.00	-4.38	-3.61	-2.92	-6.83	3.66	0.21	1.14	3.68

December 31, 2023 calculation

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

The interest coverage ratio of PBF Energy Inc has shown a positive trend over the past eight quarters, reflecting the company's ability to comfortably meet its interest obligations. The ratio has consistently improved from 2.16 in Q1 2022 to 31.02 in Q4 2023. This indicates that the company's operating income is more than sufficient to cover its interest expenses, with the most recent ratio of 31.02 suggesting a very healthy financial position. The progressive increase in the interest coverage ratio demonstrates a strengthening financial health and ability to service its debt obligations effectively.